bearish
Thonburi Healthcare Group (THG TB): High Debt Has Clouded Near-Term Growth Prospect
654 Views27 Dec 2023 09:30
SUMMARY
- Thonburi Healthcare Group (THG TB) has underperformed most of its peers over the last six months. Thus far this year, the company’s financial performance also remained unimpressive.
- Despite a healthy 29% YoY increase in normalized medical services revenue, normalized net profit decreased 8% YoY in 3Q23 as the company experienced significantly higher financial costs.
- Although the company is repaying debts, debt level is still elevated and is expected to remain so in the near-term due to upcoming capex plans.
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Tina Banerjee
Global Healthcare Analyst
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