I just noticed that hospital stocks are currently a hot topic in the Thai stock market. The advantage of this group is that they are defensive stocks that provide steady income and low risk. Regardless of the economic situation, people still need medical services.

In 2025, hospital stocks performed quite well. Although in 2026 there were reports that many stocks had fallen significantly, there are still top-tier companies that remain trustworthy and continue to have good dividend potential.

Let's see which ones are worth watching.

Starting with the largest in the market, BDMS (Bangkok Dusit Medical Services) is a regional medical leader with hospitals in several countries, both in Thailand and abroad. This company has a market cap of 319,430 million baht, a stock price of 20 baht, with a P/E ratio of 19.5 times, and an ROE of 16.8%. It is considered a stable choice suitable for investors seeking safety.

Another interesting stock is BH (Bumrungrad Hospital). This company has a high foreign customer base, which is a key advantage. Its stock price is 167.50 baht, with an ROE of 31.9%, which is impressive. The P/E ratio is 19.3 times. If you're looking for higher returns, this could be a good option.

For BCH (Bangkok Chain Hospital), it is a high-market-cap company within the industry, with a network of over 15 hospitals. Its stock price is only 10.20 baht, making it quite accessible for general investors. The P/E ratio is 19.7 times. Good news is that analysts recently upgraded their recommendation to "Buy."

When it comes to specialized hospitals, RAM (Ramkhamhaeng Hospital) is well-known for treating specific conditions such as heart and brain diseases. Its stock price is 18.20 baht, but the P/E ratio is quite high at 33.41 times, so careful consideration is needed.

For more affordable options, VIBHA (Vibhavadi Hospital) is priced at only 1.88 baht, with a market cap of 18,470 million baht. Analysts are optimistic about the outlook for 2025 due to the easing of social security concerns. However, the P/E ratio is high at 47.6 times, so caution is advised.

CHG (Chularat Hospital) has a stock price of 1.50 baht, making it quite inexpensive. Its market cap is 17,270 million baht, with a P/E ratio of 21.7 times and an ROE of 10.23%. It’s suitable for investors with limited funds who want gradual growth.

Finally, PR9 (Praram 9 Hospital) plans to develop Thailand into a regional medical hub. Its stock price is between 18.7 and 18.9 baht, with a P/E ratio of 18.4 times and an ROE of 14%. It balances well with other stocks.

Based on these figures, if you want hospital stocks with good and stable dividends, BDMS and BH are good choices. For BCH, CHG, and VIBHA, if you're young and patient, they have growth potential worth monitoring.

The key thing to remember is that before investing in any hospital stock, you should study who the main customer base is. If they focus on foreign clients, keep an eye on the economic conditions of those countries. If they target domestic customers, consider social security policies and the Thai economic situation. Also, review each hospital’s growth strategy—whether they plan to expand branches, merge, or focus on specialized expertise.

If you're looking to add stability to your long-term portfolio, hospital stocks are a good option because they are businesses that are easy to understand, generate steady income, and are less dependent on economic fluctuations. Study the options carefully and choose the one that aligns with your investment goals.