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Thonburi Healthcare Group Public Company Limited (THG.BK)

THB7.55 +0.10 (+1.34%)
TH SET Healthcare Medical - Care Facilities
Address No. 34/1 Soi Issaraparp 44 10700
Bangkok, TH
CEO Paiboon Eksaengsri
Website thg.co.th
IPO 2017-12-07
ISIN TH7923010006

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Description

Thonburi Healthcare Group Public Company Limited, alongside its affiliated entities, manages private hospitals throughout Thailand. The company's operations are divided into three primary segments: Medical Services, Healthcare Solution Provision, and Other Businesses. It offers a comprehensive range of medical treatments, encompassing specialized care in neurosciences, orthopedics, gastroenterology, cardiology, and obstetrics and gynecology. Additionally, the group provides management expertise for provincial government hospitals and heart centers across both public and private sectors. Its varied business interests also include offering elder care and senior living facilities, in-home healthcare services, and operating patient rehabilitation centers. Furthermore, the company engages in real estate development for senior housing, oversees elderly care facilities, and distributes a wide array of dental supply brands such as Adec, W&H, AO, Heraeus, Ivoclar, Megagen, SAM, Melag, and Alpro. Other ventures involve the retail sale of pharmaceuticals and medical supplies in specialized outlets, the creation of hospital management software, and broader property development. Thonburi Healthcare Group operates a network of hospitals that includes four facilities in or near Bangkok (Thonburi, Thonburi 2, Thonburi Bamrungmuang, and Thonburi Burana Hospital in Pathum Thani), four provincial hospitals (Rajyindee, Ubonrak Thonburi, Sirivej Chanthaburi, and Thonburi Thungsong), and one international hospital located in the Republic of the Union of Myanmar. Founded in 1976, the company maintains its headquarters in Bangkok, Thailand.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
THB7.55 +0.10 (+1.34%)
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Volume Profile
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Liquidity & share structure
Average Volume
1M
Beta
-0.31
Float Shares
360.36M
Free Float %
40.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.34% -5.03% -13.71% -16.57% -1.31% -11.70% -11.70% -87.48% -65.93% -77.58% -77.58%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
7.55
DCF (Unlevered) 28.48 +277.2%
DCF (Levered) 10.01 +32.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 0% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 0 0
Hold 1 0
Sell 1 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.22
Distress
Piotroski F-Score
7 / 9
Strong
MOAT Score
1 / 10
No MOAT
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Medical - Care Facilities: +10.2%
    -4.0% Q1'26: -3.5% (vs Q1'25)
  • EPS growth Medical - Care Facilities: +19.2%
    +103.9% Q1'26: -2.6% (vs Q1'25)
  • FCF margin FCF growth · Medical - Care Facilities: +32.0%
    +1.8% Q1'26: +6.3% (vs Q1'25)
  • EBIT margin Medical - Care Facilities: +11.3%
    +3.5% Q1'26: +2.4% (vs Q1'25)
  • ROIC Medical - Care Facilities: +6.8%
    +1.1% Q1'26: +0.7% (vs Q1'25)
  • Share dilution Medical - Care Facilities: +0.0%
    +39.0% Q1'26: +111.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Medical - Care Facilities: 0.99×
    2.66× Q1'26: 2.80× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.28) × ERP
WACC = 69% × Ke + 31% × Kd (9.6%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 28.39 Current price: 7.55
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
2 Rev. Ana.
2 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Revenue
6.61B
est: 6.60B (+0.2%)
7.09B
est: 7.08B (+0.2%)
8.23B
est: 8.06B (+2.2%)
7.31B
est: 7.32B (0.0%)
10.85B
est: 10.01B (+8.4%)
11.54B
est: 11.57B (-0.3%)
9.84B
est: 9.49B (+3.7%)
9.48B
est: 9.98B (-5.0%)
9.10B
est: 9.08B (+0.2%)
9.44B
9.11B – 9.77B
+4.0% YoY
9.70B
9.06B – 10.34B
+2.7% YoY
9.98B
9.63B – 10.32B
+2.9% YoY
EBITDA
1.13B
est: 1.18B (-4.7%)
1.05B
est: 1.27B (-16.8%)
1.11B
est: 1.44B (-22.8%)
1.10B
est: 1.31B (-16.1%)
2.92B
est: 1.79B (+62.8%)
3.13B
est: 2.07B (+51.2%)
2.08B
est: 1.72B (+20.7%)
-60.30M
est: 1.81B (-103.3%)
1.47B
est: 1.65B (-10.5%)
1.71B
1.65B – 1.77B
+4.0% YoY
1.76B
1.64B – 1.88B
+2.7% YoY
1.81B
1.75B – 1.87B
+2.9% YoY
EBIT
825.03M
est: 485.91M (+69.8%)
530.07M
est: 521.64M (+1.6%)
469.37M
est: 593.61M (-20.9%)
327.64M
est: 538.88M (-39.2%)
2.03B
est: 737.25M (+175.4%)
2.33B
est: 852.41M (+173.7%)
939.36M
est: 694.63M (+35.2%)
-1.23B
est: 730.55M (-268.9%)
315.85M
est: 664.23M (-52.4%)
691.05M
667.06M – 715.04M
+4.0% YoY
710.01M
662.96M – 757.06M
+2.7% YoY
730.28M
704.93M – 755.63M
+2.9% YoY
Net Income
553.84M
est: 454.22M (+21.9%)
347.60M
est: 369.40M (-5.9%)
462.39M
est: 329.20M (+40.5%)
22.81M
est: 46.37M (-50.8%)
1.34B
est: 957.03M (+39.7%)
1.60B
est: 1.47B (+9.3%)
295.41M
est: 7.22M (+3,990.9%)
-1.76B
est: 115.27M (-1,630.7%)
96.22M
est: 96.22M (+0.0%)
282.72M
269.96M – 295.48M
+193.8% YoY
414.00M
343.85M – 928.39M
+46.4% YoY
1.11B
1.06B – 1.16B
+167.5% YoY
SGA
1.01B
est: 1.13B (-11.4%)
1.38B
est: 1.22B (+13.1%)
1.40B
est: 1.39B (+0.8%)
1.40B
est: 1.26B (+11.6%)
1.57B
est: 1.72B (-9.1%)
1.72B
est: 1.99B (-13.6%)
1.81B
est: 1.63B (+10.9%)
1.81B
est: 1.72B (+5.4%)
1.74B
est: 1.56B (+11.7%)
1.62B
1.57B – 1.68B
+4.0% YoY
1.67B
1.56B – 1.78B
+2.7% YoY
1.72B
1.66B – 1.78B
+2.9% YoY
EPS
0.72
est: 0.54 (+34.3%)
0.41
est: 0.44 (-5.9%)
0.54
est: 0.39 (+39.0%)
0.03
est: 0.05 (-50.7%)
1.59
est: 1.13 (+40.8%)
1.89
est: 1.71 (+10.7%)
0.35
est: 0.01 (+5,609.6%)
-2.08
est: 0.10 (-2,225.6%)
0.08
est: 0.06 (+47.3%)
0.24
0.23 – 0.25
+332.8% YoY
0.54
0.29 – 0.79
+125.0% YoY
0.94
0.90 – 0.98
+74.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-14 B+ 3/5 4/5 3/5 4/5 2/5 1/5 4/5
2026-05-13 B 3/5 4/5 3/5 3/5 2/5 1/5 4/5
2026-05-12 B 3/5 4/5 3/5 3/5 2/5 1/5 4/5
2026-05-11 B 3/5 4/5 3/5 3/5 2/5 1/5 4/5
2026-05-08 B 3/5 4/5 2/5 3/5 2/5 1/5 4/5
2026-05-07 B 3/5 4/5 2/5 3/5 2/5 1/5 4/5
2026-05-06 B 3/5 4/5 2/5 3/5 2/5 1/5 4/5
2026-05-05 B 3/5 4/5 2/5 3/5 2/5 1/5 4/5
2026-04-30 B 3/5 4/5 2/5 4/5 2/5 1/5 4/5
2026-04-29 B 3/5 4/5 2/5 4/5 2/5 1/5 4/5
2026-04-28 B 3/5 4/5 2/5 4/5 2/5 1/5 4/5
2026-04-27 B 3/5 4/5 2/5 4/5 2/5 1/5 4/5
2026-04-24 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-23 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-22 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-21 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-20 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-17 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5
2026-04-16 B 3/5 4/5 2/5 4/5 1/5 1/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-99.63M
OE per share TTM
-0.30
Owner's Yield
-0.74%
Maintenance CapEx ratio
627.48%
Maint CapEx / Avg PPE
123.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 11 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 T. Rowe Price Small-Mid Cap ETF TMSL 0.68% 18.72M 0.55%
2 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.01% 65.4K 0.65%
3 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.00% 25.3K 0.48%
4 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.00% 57.0K 0.26%
5 Vanguard FTSE Global All Cap ex Canada Index ETF VXC.TO 0.00% 4.5K 0.22%
6 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 13.6K 0.22%
7 Vanguard Growth ETF Portfolio VGRO.TO 0.00% 7.3K 0.22%
8 Vanguard Balanced ETF Portfolio VBAL.TO 0.00% 3.2K 0.22%
9 Vanguard Conservative ETF Portfolio VCNS.TO 0.00% 372.80 0.22%
10 Vanguard Retirement Income ETF Portfolio VRIF.TO 0.00% 122.49 0.31%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
57.4K
Shares Outstanding
901.06M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Chalermkul Apibunyopas Chief Executive Officer of Thonburi Thawiwatthana Hospital, Director & Acting Chief Sustainability Officer 2M male
Paiboon Eksaengsri Group Chief Executive Officer & Director 465.0K
Nalin Vanasin Chief Sustainability Officer & Director 77.3K female
Associate Visit Vamvanij Chief Executive Officer Thonburi Hospital 12.7K
Nattakan Jittinapat Company Secretary female
Hathaichanok Pangnoi Head of Internal Audit female
Pumipat Chatnoraset Accounting Director male
Siripong Luengvarinkul Chief Executive Officer of Thonburi Hospital, Chief Operating Officer & Director
Vachiraboon Sastararuji Acting Chief Executive Officer at Thonburi Hospital
Yothika Sripongphankul Acting Chief Financial Officer female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits