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Employees: 1,998
Size Bayzed Health (2609.HK) is a Hong Kong Health Care company (Hospital/Nursing Management) with a market value of $453M, the 784th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.69 on 6 Nov 2026.
Performance Over six months the shares fell 49.4%, against -2.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +10.9%); the operating margin is 4.7% (peer median 9.5%).
Valuation It trades at 2.9× enterprise value to sales against a peer median of 2.2× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.7 points below its cost of capital (5.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.26B | HK$1.21B | HK$1.29B | HK$1.18B | HK$933M |
| Revenue growth | — | -6% | +9% | +27% | — |
| Gross profit | HK$216M | HK$207M | HK$195M | HK$171M | HK$70.0M |
| EBITDA | HK$170M | HK$123M | HK$127M | HK$114M | HK$36.6M |
| Net income | HK$32.5M | -HK$14.1M | -HK$14.6M | -HK$29.2M | -HK$67.5M |
| Free cash flow | HK$214M | HK$179M | HK$140M | HK$71.4M | HK$81.0M |
| Capital expenditure | HK$62.4M | HK$41.1M | HK$50.4M | HK$59.5M | HK$42.3M |
| Total debt | n/a | HK$606M | HK$550M | HK$584M | HK$514M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2609.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.1% | -0.7% | 3rd lowest of 20 |
| 6-month return | -49.4% | -2.2% | lowest of 20 |
| Distance from 52-week high | -62.8% | -22.6% | lowest of 20 |
| Revenue growth (TTM) | -1.9% | +10.9% | 2nd lowest of 21 |
| Operating margin | 4.7% | 9.5% | 4th lowest of 21 |
| EV / Sales | 2.9× | 2.2× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 17.4% | 4.0% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +9.2% | +15.5% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | +8.2 pp | -8.4 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | -2.7 pp | +1.6 pp | 6th lowest of 21 |
| EV / EBITDA | 21.4× | 10.0× | 6th most expensive of 19 |
| Net debt / EBITDA | -0.2× | 0.6× | 4th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bayzed Health 2609.HK | Hong Kong | $453M | -49% | -2% | 5% | 2.9× | 17.4% | +9.2% |
| Bright Eye Hospital 301239.SZ | China | $419M | -23% | +11% | 9% | 1.4× | -3.7% | +15.5% |
| China Resources Medical 1515.HK | Hong Kong | $415M | -12% | 0% | 6% | 0.5× | -7.3% | +26.3% |
| Voxel VOX.WA | Poland | $405M | +50% | +14% | 24% | 2.7× | 1.1% | +12.2% |
| Artemis Medicare Services ARTEMISMED.NS | India | $514M | +16% | +15% | 14% | 4.4× | 45.8% | +21.5% |
| Garofalo Health Care GHC.MI | Italy | $540M | +1% | +4% | 10% | 1.5× | 1.8% | +18.3% |
| Liaoning He Eye Hospital 301103.SZ | China | $365M | -21% | +3% | 4% | 1.1× | -2.1% | +5.4% |
| Q & M Dental Group (Singapore) QC7.SI | Singapore | $353M | -18% | +16% | 9% | 2.6× | 8.2% | +7.5% |
| Viemed Healthcare VMD | United States | $348M | +2% | +25% | 8% | 1.2× | 6.2% | +15.5% |
| Indraprastha Medical INDRAMEDCO.NS | India | $321M | -21% | +11% | 15% | 2.0× | 16.7% | +19.3% |
| Community Health Systems CYH | United States | $312M | -21% | -8% | 7% | 0.9× | n/a | n/a |
| Kovai Medical Center & Hospital KOVAI.NS | India | $689M | +4% | +15% | 21% | 4.0× | 16.3% | +18.1% |
| MEDICLIN Aktiengesellschaft MED.DE | Germany | $285M | +48% | +3% | 8% | 0.7× | -9.1% | +3.5% |
| Paras Healthcare PARASHLTH.NS | India | $844M | n/a | +24% | 11% | 5.6× | n/a | n/a |
| Clinica Baviera CBAV.MC | Spain | $940M | -7% | +11% | 20% | 2.5× | 0.7% | +19.7% |
| HealthCare Global Enterprises HCG.NS | India | $950M | -2% | +14% | 8% | 3.4× | n/a | n/a |
| Thomson Medical A50.SI | Singapore | $953M | -21% | +6% | 10% | 5.5× | 20.9% | +11.8% |
| Jupiter Life Line Hospitals JLHL.NS | India | $1,000M | +14% | +17% | 16% | 6.0× | n/a | n/a |
| Yatharth Hospital and Trauma Care Services YATHARTH.NS | India | $1.05B | +25% | +50% | 16% | 6.8× | n/a | n/a |
| Rhon-klinikum RHK.DE | Germany | $1.08B | +14% | +5% | 3% | 0.6× | n/a | n/a |
| Ramsay Generale de Sante GDS.PA | France | $1.09B | -15% | +3% | 4% | 0.9× | 6.3% | +6.0% |