Praram 9 Hospital PCL

Praram 9 Hospital PCL maintains a strong liquidity position, with a current ratio of 3.71 and cash and equivalents amounting to 962.05 million THB, indicating a solid ability to meet short-term obligations. The company's price-to-book ratio of 2.54 and a price-to-tangible-book ratio of 2.54 suggest that the market values the company at a premium relative to its book value.

In terms of profitability, the company's return on equity (ROE) of 2.71% and return on assets (ROA) of 2.34% are below the industry's preferred metrics, indicating that the company is not generating returns as efficiently as its peers. The operating income of 160.38 million THB and net income of 139.10 million THB reflect a moderate level of profitability, but the high price-to-earnings ratio of 93.84 suggests that the market is paying a premium for these earnings.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification, which may expose it to higher concentration risk. The company's free cash flow is negative at -52.33 million THB, indicating that it is not generating sufficient cash from operations to cover its capital expenditures of -107.55 million THB.

Looking ahead, the company is expected to see a growth in revenue, with a positive outlook for the current fiscal year. The mean price target of 23.97 THB and median price target of 23.00 THB suggest that analysts have a positive outlook on the company's future performance. The company's liquidity risk is low, and there are no immediate filing-based liquidity or dilution flags, indicating a stable financial position.

Recent events and filings do not indicate any significant changes in the company's operations or financial status. The company's capital structure is characterized by a low debt-to-equity ratio of 0.0, suggesting that it is primarily financed through equity. The company's market cap of 13.05 billion THB and a market price of 16.6 THB per share indicate a relatively high valuation in the market.

Revenue grew 15.2% CAGR over four years, demonstrating strong top-line expansion momentum for the hospital.

Net income surged 34.8% CAGR over four years, significantly outpacing revenue growth and indicating operating leverage.

Analysts project 48.9% upside to a mean price target of 23.97 THB, signaling strong market confidence.

Return on equity of 2.7% falls below the healthcare cohort median of 4.6%, indicating inefficient capital utilization.

Long-term debt increased to 15.98 million THB in FY2026, nearly tripling from the prior year's level.

Revenue THB 1.29B, +3,7% YoY; Operating income −6,9% YoY.

• ▍Revenue THB 1.29B, +3,7% YoY
• ▍Operating income −6,9% YoY
• ▍Net income −8,0% YoY
• ▍Free cash flow +11,0% YoY
• ▍Net margin 14.3%

Revenue THB 1.40B, +11,3% YoY; Operating income +17,7% YoY.

• ▍Revenue THB 1.40B, +11,3% YoY
• ▍Operating income +17,7% YoY
• ▍Net income +5,0% YoY
• ▍Free cash flow −214,9% YoY
• ▍Net margin 15.5%

Revenue THB 1.37B, +11,3% YoY; Operating income +2,2% YoY.

• ▍Revenue THB 1.37B, +11,3% YoY
• ▍Operating income +2,2% YoY
• ▍Net income +7,4% YoY
• ▍Free cash flow −9,3% YoY
• ▍Net margin 16.3%

Revenue THB 1.28B, +17,8% YoY; Operating income +34,8% YoY.

• ▍Revenue THB 1.28B, +17,8% YoY
• ▍Operating income +34,8% YoY
• ▍Net income +30,8% YoY
• ▍Free cash flow +60,4% YoY
• ▍Net margin 14.2%

Revenue THB 1.24B; Operating income THB 239.1M.

• ▍Revenue THB 1.24B
• ▍Operating income THB 239.1M
• ▍Net margin 16.1%

Revenue THB 1.26B; Operating income THB 219.7M.

• ▍Revenue THB 1.26B
• ▍Operating income THB 219.7M
• ▍Net margin 16.4%

Revenue THB 1.23B; Operating income THB 243.6M.

• ▍Revenue THB 1.23B
• ▍Operating income THB 243.6M
• ▍Net margin 16.9%

Revenue THB 1.09B; Operating income THB 160.4M.

• ▍Revenue THB 1.09B
• ▍Operating income THB 160.4M
• ▍Net margin 12.8%

Revenue THB 5.29B, +13,8% YoY; Operating income +19,2% YoY.

• ▍Revenue THB 5.29B, +13,8% YoY
• ▍Operating income +19,2% YoY
• ▍Net income +15,4% YoY
• ▍Free cash flow −40,2% YoY
• ▍Net margin 15.5%

Revenue THB 4.65B, +10,3% YoY; Operating income +22,6% YoY.

• ▍Revenue THB 4.65B, +10,3% YoY
• ▍Operating income +22,6% YoY
• ▍Net income +27,8% YoY
• ▍Free cash flow +33,3% YoY
• ▍Net margin 15.3%

Revenue THB 4.22B, +2,3% YoY; Operating income −4,7% YoY.

• ▍Revenue THB 4.22B, +2,3% YoY
• ▍Operating income −4,7% YoY
• ▍Net income −1,7% YoY
• ▍Free cash flow −47,5% YoY
• ▍Net margin 13.2%

Revenue THB 4.12B, +37,4% YoY; Operating income +133,3% YoY.

• ▍Revenue THB 4.12B, +37,4% YoY
• ▍Operating income +133,3% YoY
• ▍Net income +127,8% YoY
• ▍Free cash flow +188,5% YoY
• ▍Net margin 13.8%