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    Healthcare

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    Medical - Care Facilities
Bangkok Dusit Medical Services Public Company Limited

Bangkok Dusit Medical Services Public Company Limited

BDULF
Bangkok Dusit Medical Services Public Company LimitedUS flagOther OTC
0.56
USD
- -
- -
8.90BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.27
3.62
4.06
4.38
4.64
4.97
5.25
4.28
4.68
5.78
6.35
6.79
7.02
7.02
Basic EPS, GAAP
0.4
0.48
0.52
0.54
0.66
0.59
0.99
0.45
0.5
0.79
0.9
1.01
1
0.98
Free Cash Flow per Basic Share
0.04
0.15
0.42
0.22
-0.3
0.46
0.42
0.32
0.64
0.96
0.79
0.71
0.76
0.76
Dividend per Share
0.18
0.2
0.23
0.36
0.32
0.36
0.44
0.3
0.8
0.5
0.65
0.7
0.75
0.35
Book Value per Share
1.31
1.51
1.79
1.98
2.32
2.52
3
3.06
2.79
3.12
3.37
3.64
3.88
4.13
Tangible Book Value per Share
1.97
1.95
2.35
2.55
3
3.45
4.27
4.57
4.34
4.71
5.02
5.29
5.64
5.91
Basic Weighted Avg Shares
15,463
15,491
15,491
15,491
15,491
15,570
15,743
15,892
15,892
15,892
15,892
15,892
15,892
15,892
Sales/Revenue/Turnover
50,615
56,054
62,834
67,904
71,933
77,373
82,723
68,074
74,451
91,934
100,853
107,867
111,507
111,602
Operating Margin (%)
15.08
15.99
15.65
14.61
14.33
15.24
14.57
12.52
15.07
18.47
18.73
18.96
18.08
17.71
Depreciation Expense
3,244
3,716
4,387
4,803
5,168
5,386
5,752
6,413
6,321
5,950
5,848
6,132
6,848
7,026
Net Income, GAAP
6,261
7,394
8,021
8,386
10,216
9,191
15,517
7,214
7,936
12,606
14,358
15,987
15,848
15,560
Effective Tax Rate (%)
17.59
17.89
18.53
17.98
19.51
22.12
19.48
26.45
19.85
19.58
20.22
18.65
18.41
18.39
Profit Margin (%)
12.37
13.19
12.76
12.35
14.2
11.88
18.76
10.6
10.66
13.71
14.24
14.82
14.21
13.94
Working Capital
-1,513
-1,160
-1,712
-5,282
977
-13,301
-2,938
18,792
8,539
7,183
5,112
1,646
-520
3,435
LT Debt
18,789
27,411
27,060
25,933
37,711
24,753
19,130
23,736
15,384
17,182
15,317
13,540
10,608
10,676
Total Equity
42,685
47,717
54,997
58,305
65,871
73,438
87,182
91,463
87,765
93,949
99,091
103,927
110,009
114,301
Return on Invested Capital (%)
10.13
10.13
9.72
9.26
8.47
8.38
8.6
5.48
8.03
12.11
12.73
13.78
13.07
12.6
Return on Capital (%)
16.31
15.47
14.7
13.92
15.5
12.03
20.04
9.79
11.09
17.3
18.73
20.3
19.13
18.49
Return on Common Equity (%)
33.9
33.94
31.41
28.74
30.73
24.48
35.87
15.03
17.06
26.84
27.83
28.68
26.53
24.33

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
8,131
6,879
3,345
LT Borrowings
3,000
3,000
3,000
LT Finance Leases
7,530
7,608
7,676
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
15,892
15,892
15,892
Market Capitalization
325,064
304,956
342,545

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
22,132
23,109
25,273
Cash, Cash Equivalents & STI
7,050
7,242
8,122
Accounts Receivable, Net
11,119
11,638
12,313
Inventories
3,042
3,422
3,150
Total Current Liabilities
25,633
23,629
21,838
Payables & Accruals
15,955
15,236
17,325
ST Debt
8,131
6,879
3,345
Deferred Revenue
204
190
193

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.33%
3.84%
5.85%
Free Cash Flow
-43.39%
26.13%
6.62%
Net Income, GAAP
12.49%
18.65%
-0.87%
Sales/Revenue/Turnover
6.36%
10.58%
3.37%
Total Cash Common Dividend
22.66%
35.18%
7.17%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
26,609
25,704
28,151
27,404
107,867
2025
28,084
26,727
28,243
28,453
111,507
2026
28,179
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.26
0.21
0.27
- -
1.01
2025
0.27
0.22
0.27
- -
1
2026
0.26
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.35
0.35
- -
0.7
2025
- -
- -
0.35
- -
0.75
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Poramaporn Prasarttong-Osoth
Full Time Employees
36,994
Sector
Healthcare
Industry
Medical - Care Facilities
Address
2, Soi Soonvijai 7 Bangkok Thailand 10310
IPO Date
Jan 8, 2009
Website
bdms.co.th
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Business
Bangkok Dusit Medical Services Public Company Limited Bangkok Dusit Medical Services Public Company Limited operates as Thailand's largest private healthcare provider, managing an extensive network of over 50 hospitals across the country and in Cambodia through six primary groups including Bangkok Hospital Group with multiple branches, Samitivej Hospital Group, BNH Hospital, Phyathai Hospital Group, Paolo Hospital Group, and Royal Hospital Group; it delivers comprehensive medical services ranging from primary care and wellness programs at BDMS Wellness Clinic to advanced tertiary treatments in centers of excellence for orthopedics, trauma, cardiology, neuroscience, solid organ cancer, hematology cancer, and specialized areas such as robotic surgery, neurology, oncology, IVF, bone marrow transplants, CAR-T cell therapy, and medical tourism packages targeting international patients from Asia-Pacific and beyond. Founded in 1969 and headquartered at 2 Soi Soonvijai 7, New Phetchaburi Road in Bangkok, Thailand, the company serves diverse patient segments including Thai nationals under universal coverage, civil servants, social security recipients, and over two million annual international patients, with operations spanning central Thailand including Bangkok and its vicinity, northern, northeastern, eastern, and southern regions as well as Cambodia. The company supports its hospital operations with subsidiaries providing ancillary services such as National Healthcare Systems for blood diagnostics, A.N.B. Laboratories and Medicpharma for laboratory testing and pharmaceutical production, and BDMS Medevac Center for emergency medical transportation and referrals. It emphasizes value-based care, adopting global clinical guidelines, advanced technologies like AI-driven diagnostics, electronic health records, genetic testing, and wearable devices for preventive health, while focusing on high-growth markets in tourist destinations like Chiang Mai, Pattaya, and Phuket. Recent developments include the opening of Phyathai Sriracha 2 Hospital, a 113-bed secondary care facility in Chonburi's Eastern Economic Corridor, in March 2024 to address demand and reduce overcrowding at nearby tertiary sites; the launch of Phuket Cancer Center at Bangkok Siriroj Hospital, the first radiotherapy facility in Phuket and the Andaman region, in October 2024 with coordination from Wattanosoth Cancer Hospital; and the planned early 2025 opening of Samitivej International Children's Hospital with 103 beds in Bangkok's Srinakarin area. In May 2025, BDMS secured a pioneering 1,000 million baht green loan from TMBThanachart Bank, supported by the International Finance Corporation, to develop Bangkok International Hospital to LEED Healthcare Gold standards, marking Thailand's first such financing for a hospital. Additional expansions encompass a new rehabilitation building at Bangkok Hospital, bed additions at Bangkok Hospital Chiang Mai, and the forthcoming 220-bed Phyathai Bowin Hospital, alongside sustained partnerships such as with AstraZeneca in 2024 and an extended media alliance with CNN International for health programming.