In 2025, after experiencing volatility, hospital stocks are continuously attracting investors.

The main reason is very simple – the hospital business is a Defensive Stock that does not depend on market conditions. Healthcare is always necessary, regardless of whether the economy is booming or cooling down. This is why these stocks generate steady income and predictable profits.

Why are hospital stocks interesting in 2025?

1. Steady Revenue

After investing in construction and equipment, the next step is continuous cash flow from service users. Unlike other businesses that require repeated investments to maintain profit margins, hospitals have a very strong financial base.

2. Low risk, suitable for long-term holding

During market crises, hospital stocks do not fall sharply. Conversely, when the market recovers, they do not surge like cyclical stocks but remain stable and consistent. This is a characteristic of Defensive Stocks.

3. Growing demand from an aging society

Increasing population, aging society, and new disease outbreaks all indicate that medical services will continue to be in higher demand.

Comparison table of 7 high-performing hospital stocks in 2025

Three-level approach to selecting hospital stocks

Level 1: Study customer types

Focus on foreign clients: BH, BDMS, BCH – these stocks have high revenue from foreigners, ranging from 30-67%. Keep a close eye on international economic conditions.

Focus on domestic clients: VIBHA, CHG, PR9, THG – mainly revenue from local patients. Less risk but slower growth.

Level 2: Analyze financial ratios

PE Ratio: What is an appropriate PE? Compare with industry. BH has a PE of 18.34, which is reasonable for a 23% growth profit forecasted for BCH.

ROE: Return on equity. BH leads with 31.91%, indicating efficient use of shareholders’ capital. VIBHA has only 8.49%, which is much lower and should be considered carefully.

Level 3: Growth strategies

Mergers and acquisitions: BDMS is the largest with a Market Cap of 355,980 billion, with a broad network and sustainability.

Expanding new branches: CHG plans to increase beds and expand service areas but requires patience for payback.

Niche focus: PR9 emphasizes digital platform development, with 9 CARE providing online services. A modern, consistent strategy.

Analysis of each hospital’s identity

( BH – The core of the dividend group

Market Cap 139,110.29 billion, current price 183 Baht, ROE 31.91% )highest###

Highlights: Established since 1984, a major social security provider. 66.52% revenue from general patients. Plans to adjust service prices and expand to accommodate foreign patients. Highest ROE in the group, demonstrating excellent capital management.

( BDMS – The diversified giant

Market Cap 355,980.84 billion, current price 23.30 Baht, ROE 16.77%

Highlights: Founded in 1975, with multiple regional networks. Supports over 5,500 outpatient visits daily. 67% revenue from foreigners. Plans to build new hospitals and expand specialty centers. Stability from large scale.

) BCH – The pioneer network

Market Cap 34,164.35 billion, current price 14.40 Baht, ROE 11.88%

Highlights: Leading private hospital with 15 hospitals in the network. Krungsri Securities recently upgraded this stock to “Buy.” Expected profit growth of 23% in 2025. Domestic revenue increased to 71%.

CHG – The mid-sized, affordable option

Market Cap 23,320.00 billion, current price 2.24 Baht, ROE 15.42%

Highlights: 12 subsidiaries, 15 branches. Plans to add beds and branches. Low stock price makes it suitable for investors with limited capital.

PR9 – The digital forward

Market Cap 16,984.08 billion, current price 21.30 Baht, ROE 13.57%

Highlights: Continuous investment in technology. 9 CARE platform offers online services. 68% of revenue from self-paying patients. Good relationships with medical schools.

VIBHA – A good choice for beginners

Market Cap 24,572.58 billion, current price 1.88 Baht, ROE 8.49%

Highlights: Analysts from Unta recommend “Buy.” Target price 2.74 Baht. Plans to increase beds. Low ROE but cheap price, suitable for long-term investors.

THG – Important info, beware

Market Cap 10,678.09 billion, current price 13.50 Baht, ROE -6.91% ###negative###

Note: A clear warning sign. This year, there are allegations against management. Stock price rose slightly after clarification, but some analysts expect a decline. Further research is necessary before making decisions.

5-step strategy to choose the right hospital stock

( Step 1: Study hospital information

Research service quality, expenses, public health policies. Visit hospital websites, read reviews, follow news about medical startups.

) Step 2: Check financial reports

Review income, expenses, profitability. Compare PE with industry. Check ROE to understand capital efficiency.

Step 3: Analyze organizational structure

Understand management, business planning, growth strategies, sustainable debt structure.

Step 4: Monitor stock prices and news

Study historical price trends. Follow financial and investment news affecting stocks.

Step 5: Seek expert advice

If lacking expertise, consult experienced stock analysts and healthcare professionals.

What to understand about PE and ROE

PE ###Price-to-Earnings###: Tells you how much investors are willing to pay for 1 Baht of profit. High PE may indicate high risk or high growth potential. Low PE could mean undervalued stock or company facing issues.

ROE (Return on Equity): Shows how much profit a company makes from shareholders’ equity. High ROE (like BH at 31.91%) indicates efficient capital use. Low ROE (like VIBHA at 8.49%) may suggest uncertain future prospects.

Key point: Always compare these figures with other data to make suitable decisions aligned with your financial goals and risk level.

Final invitation

For investors seeking long-term portfolio stability, these 7 hospital stocks have their own potential and strengths.

If you want foreign clients, choose BH, BDMS, BCH. For stability in large companies, choose BDMS. For low prices, choose CHG, VIBHA. For digital innovation, choose PR9. For learning, be cautious with THG.

Remember – investing involves risks. Study thoroughly before making decisions.