Business Alignment Public Company Limited

BIZ.BK

Medical - Devices · Healthcare

Price

5.95 THB

+0.00 (+0.00%)

Market Cap

3.57B THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 29, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Exceptional

Cash Flow

Mixed

Stability

Exceptional

Valuation

Good

Dividends

Exceptional

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Winston Score History

The full picture

Established in Bangkok, Thailand, in 2000, Business Alignment Public Company Limited is primarily engaged in the provision and setup of specialized medical equipment and software systems for radiotherapy-based cancer treatment throughout Thailand. Its services also encompass the construction of facilities designed to house these medical devices, as well as comprehensive repair and maintenance for them. Furthermore, the company manages and operates its own hospital dedicated exclusively to cancer care.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+28.5% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+75.0% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

0 THB/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Cash Runway

~3 months

295M THB cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

Business Alignment Public Company Limited is growing revenue at 28% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.2% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 601.8M (2021) → 600.7M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

22.7%

Thin — 22.7% gross margin

Profit after running costs

Operating Margin

19.0%

Healthy — 19.0% operating margin

Return on the money invested

ROCE

44.5%

Exceptional — 44.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+38.1%

Fast-growing sales (+38.1% YoY)

Profit growth

EPS YoY

+97.2%

Earnings growing fast (+97.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

44%

Weak — only 44% of profit becomes cash

Spare cash per sale

FCF Margin

7.7%

Modest free cash flow (7.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.39

Conservative — low debt load (0.39)

Covers its interest

Interest Cover

61.00x

Comfortably covers interest (61.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

8.2x

Attractive valuation — P/E 8.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

8.40%

Healthy income — 8.40% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+25.3%

Dividend growing fast (25.3% YoY)

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