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IHH Healthcare Berhad, an investment holding company, (Q0F) Fair Value & Analysis

Healthcare · SG · Market cap 25.1B SGD

IH IHH Healthcare Berhad, an investment holding company, Q0F · SG
Price2.67 SGD
Fair Value1.44 SGD
Upside-46.1%
Quality52/100
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Healthy Growth
Thin margins · 8.1% net margin
Low debt · generates free cash flow
3.85% dividend yield
Mixed vs. peers (8/15)
Narrow moat 43/100
Evidence: Medium Range 0.9000 SGD – 1.80 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Share price −5.7% over the past month.

A solid business, but screening 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.80 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (0.9000 SGD to 1.80 SGD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

3.05 SGD 1.54 SGD Fair Value 1.44 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1.54 SGD – 3.05 SGD · fair‑value band 0.9000 SGD – 1.80 SGD · the 2.67 SGD price screens above the 1.44 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

IHH Healthcare Berhad, an investment holding company, (Q0F) currently trades at 2.67 SGD, while our model-based Fair Value estimate is 1.44 SGD, implying the stock looks roughly 46.1% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, IHH Healthcare Berhad, an investment holding company, generated revenue of 26.0B SGD at a net margin of 8.1%. Revenue grew 4.1% year over year. It earns a return on equity of 7.9%. Net debt stands at 11.8B SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.9000 SGD (bear case) to 1.80 SGD (bull case); at 2.67 SGD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at -46%, Q0F screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 2.11 SGD 4.32 SGD 8.14 SGD 80
Residual Income 2.77 SGD 2.92 SGD 3.11 SGD 76
Rev-Margin DCF 2.94 SGD 6.02 SGD 10.06 SGD 74
All 24 models by family
DCF Models
FCF DCF 2.14 SGD 4.60 SGD 8.97 SGD 38
Owner Earnings 0.2400 SGD 1.01 SGD 31
5Y Revenue Exit 2.94 SGD 6.14 SGD 10.59 SGD 39
5Y EBITDA Exit 4.60 SGD 9.62 SGD 16.08 SGD 41
5Y P/E Exit 2.70 SGD 5.62 SGD 9.03 SGD 38
10Y Revenue Exit 2.52 SGD 5.49 SGD 10.25 SGD 36
10Y EBITDA Exit 3.76 SGD 8.06 SGD 14.93 SGD 37
10Y P/E Exit 2.49 SGD 5.10 SGD 8.92 SGD 35
Earnings-Based
Graham-Dodd 1.62 SGD 7.98 SGD 11.00 SGD 54
Lynch FV 2.15 SGD 3.07 SGD 3.99 SGD 50
PEG = 1.0 2.15 SGD 3.07 SGD 3.99 SGD 46
EPV 2.90 SGD 3.50 SGD 4.03 SGD 59
Multiples
P/E Multiple 3.92 SGD 5.23 SGD 6.54 SGD 63
P/S Multiple 3.03 SGD 4.04 SGD 5.05 SGD 58
P/B Multiple 3.03 SGD 4.04 SGD 5.05 SGD 55
EV/EBIT 4.95 SGD 6.83 SGD 8.71 SGD 53
EV/EBITDA 6.22 SGD 8.53 SGD 10.83 SGD 54
EV/Revenue 3.33 SGD 5.06 SGD 6.78 SGD 43
Asset-Based
NCAV (Graham) 1.71 SGD 2.30 SGD 3.43 SGD 50
Growth DCF
Growth DCF 2.11 SGD 4.32 SGD 8.14 SGD 80
Rev-Margin DCF 2.94 SGD 6.02 SGD 10.06 SGD 74
Economic Profit
Residual Income 2.77 SGD 2.92 SGD 3.11 SGD 76
ROIC Compounder 2.90 SGD 3.60 SGD 4.89 SGD 72
Growth Earnings
Growth-Adj P/E 3.39 SGD 4.84 SGD 6.30 SGD 68

Widest divergence: DCF Models (5.49 SGD) versus Asset-Based (2.30 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 26.0B SGD
Revenue growth (YoY) +4.1%
Net margin 8.1%
Return on equity 7.9%
Free cash flow 1.9B SGD FY2025
P/E ratio 32.5
More key figures
Operating margin 14.5%
EPS (TTM) 0.0800 SGD
Dividend yield 3.9%
EPS growth (YoY) +2.5%
Net debt 11.8B SGD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 65

Profitability 39
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

IHH Healthcare Berhad, an investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally. It provides primary care services, such as outpatient treatment, check-ups, vaccinations, preventive care, and patient education services.

Full company description

IHH Healthcare Berhad, an investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally. It provides primary care services, such as outpatient treatment, check-ups, vaccinations, preventive care, and patient education services. The company also offers secondary care facilities, including medical emergencies and acute treatment, as well as specialist consultation, diagnostics, and lab services; tertiary care services comprising specialist consultative care, advanced treatment, complex surgery, and inpatient care services; and quaternary care services, such as organ transplants, neurosurgery, cardiac surgery, and reconstructive plastic surgery. In addition, it provides ancillary services, including diagnostics, laboratory testing, radiology, physiotherapy, and integrated rehabilitation and advanced molecular diagnostics services. Further, the company offers medical education; train and develop nurses, doctors, clinicians, and allied healthcare professionals; administrative, management, consultancy services; emergency, home, and ambulatory care services; healthcare information systems, web-based applications, and other technology solutions; and real estate investment trust services. Additionally, it provides services for medical diagnostic laboratory tests; develops, constructs, and leases medical facility buildings and healthcare facilities; provides catering, laundry, and cleaning services for hospitals; and haemodialysis services, as well as imports and wholesales drug and medical materials. The company engages in the letting of properties; and computer software designing, development, customization, integration, implementation, maintenance, and related services. IHH Healthcare Berhad was incorporated in 2010 and is based in Kuala Lumpur, Malaysia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IHH Healthcare Berhad, an investment holding company, reported revenue of 25.7B SGD in FY2025 versus 17.1B SGD in FY2021, a compound +10.7%/yr. Reported net income was 2.1B SGD in FY2025, compounding +3.1%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
25.7B SGD
Latest YoY
+5.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.9%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.8%
Revenue +10.7%/yr
FY21 17.1B SGD
FY22 18.0B SGD
FY23 20.9B SGD
FY24 24.4B SGD
FY25 25.7B SGD
Net income +3.1%/yr
FY21 1.9B SGD
FY22 1.5B SGD
FY23 3.0B SGD
FY24 2.7B SGD
FY25 2.1B SGD

Q0F screens 46% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "IHH Healthcare Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/Q0F

Peer Group

Medical Care Facilities · 265 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Below median
Fair Value upside −46% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 15% · Top 25%
Revenue growth 4% · Below median
Dividend yield (TTM) 3.9% · Top 25%
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 32.5× · Pricier than median
P/B 0.65× · Cheaper than 75% of peers
P/S (TTM) 0.75× · Cheaper than median
P/FCF 10.3× · Pricier than 75% of peers
EV/EBITDA 4.8× · Cheaper than 75% of peers
PEG 4.18× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 25
FUTURE 21 · sector 24
PAST 32 · sector 30
HEALTH 87 · sector 90
DIVIDEND 77 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $414.59 $547.67 +32%
Fresenius SE FRE €46.82 €32.15 -31%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
Tenet Healthcare Corporation THC $266.79 $330.25 +24%
Rede D'Or São Luiz S.A RDOR3 R$33.97 R$47.31 +39%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,565 ₹2,955 -65%
Aier Eye Hospital Group 300015 ¥8.87 ¥7.67 -14%
Max Healthcare Institute Limited MAXHEALTH ₹1,008 ₹284.87 -72%
Bangkok Dusit Medical Services Public Company BDMS 19.70 THB 18.57 THB -6%
Fortis Healthcare Limited FORTIS ₹906.15 ₹300.29 -67%

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Frequently asked questions

Is IHH Healthcare Berhad, an investment holding company, (Q0F) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.44 SGD versus a price of 2.67 SGD, about −46% (overvalued).
What is the fair value of Q0F?
Our model-based fair value for IHH Healthcare Berhad, an investment holding company, is 1.44 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 2.67 SGD.
What is the quality score of Q0F?
IHH Healthcare Berhad, an investment holding company, has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of IHH Healthcare Berhad, an investment holding company, (Q0F)?
IHH Healthcare Berhad, an investment holding company, reported trailing-twelve-month revenue of about 26.0B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of Q0F?
The net profit margin of IHH Healthcare Berhad, an investment holding company, is about 8.1%, meaning it keeps roughly 8.1% of revenue as net income. Based on the latest reported figures.
Does IHH Healthcare Berhad, an investment holding company, pay a dividend?
IHH Healthcare Berhad, an investment holding company, currently shows a dividend yield of about 3.85% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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