Bumrungrad Hospital Public Company Limited (SET: BH) reported third-quarter 2026 total revenues of THB 6,727 million, representing a 2.2% year-on-year increase from THB 6,582 million in 3Q25. Net profit reached THB 2,065 million, rising 1.5% YoY from THB 2,035 million in the prior-year period, delivering a net profit margin of 30.7%.
Key Financial Highlights
- Total Revenues: THB 6,727 million, up 2.2% YoY.
Net Profit: THB 2,065 million, up 1.5% YoY with a 30.7% net profit margin.
EBITDA: THB 2,812 million, up 3.0% YoY; EBITDA margin expanded to 41.8%.
Diluted EPS: THB 2.38, up 1.5% from THB 2.35 in 3Q25.
Revenues from hospital operations grew 2.8% YoY to THB 6,676 million. Operational expansion was driven by an 8.2% surge in revenue from domestic Thai patients. Non-Thai patient revenue remained virtually flat, up 0.2% YoY. This rebalanced the quarterly revenue contribution, with Thai patients accounting for 34.9% of operational revenue—up from 33.2% in 3Q25—while non-Thai patients generated 65.1%.
Core operating profitability expanded as EBITDA rose 3% YoY to THB 2,812 million, widening the EBITDA margin to 41.8% from 41.5%. Cost of hospital operations increased 2.7% to THB 3,143 million, tracking top-line growth due to higher medical supply costs and physicians’ fees. Operating costs held steady at 47.1% of operational revenues. Marketing campaigns pushed selling expenses up 15.2% to THB 192 million, while administrative overhead decreased 1.4% to THB 877 million.
BH maintains a net cash balance sheet, recording a net debt-to-equity ratio of -0.2x and a net debt-to-EBITDA ratio of -0.5x. Cash and cash equivalents totaled THB 5,422 million as of September 30, 2026, backed by THB 6,978 million in nine-month operating cash flows. Balance sheet liquidity remains solid with a current ratio of 3.3x and a quick ratio of 2.4x. Basic Earnings Per Share (EPS) rose to THB 2.60.
Management continues to execute on operational efficiencies while leveraging core tertiary care services. Performance through the first nine months demonstrates resilient international market demand, supported by revenue growth from key regional corridors including Myanmar (+20.5% YoY) and the Middle East (+5.7% YoY).
