Washington H Soul Pattinson & Company Ltd (SOL) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Washington H Soul Pattinson & Company Ltd stock A$63.72, price A$47.48, upside +34.2%, quality 47 out of 100. Rating: undervalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range A$19.96 – A$47.67 · fair‑value band A$43.95 – A$89.82 · the A$47.48 price screens below the A$63.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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WHSP Holdings Limited, an investment company, engages in investing various industries and asset classes in Australia. It operates through six segments: Listed Companies, Private Companies, Emerging Companies Portfolio, Real Assets, Credit Portfolio, and Treasury.
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The company invests in largely uncorrelated listed companies; managed listed equities; unlisted and growing companies; credit related financial instruments; and property development. It also engages in the manufacturing, distribution, and sale of building products.
The company was formerly known as WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED and changed its name to WHSP Holdings Limited in September 2025. WHSP Holdings Limited was founded in 1872 and is headquartered in Sydney, Australia.
Stock analysis
Washington H Soul Pattinson & Company Ltd (SOL) currently trades at A$47.48, while our model-based Fair Value estimate is A$63.72, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of A$94.03 per share, and 5 of the 9 models we run sit above the A$47.48 price.
Bear case: the Asset-Based group reads lowest at A$7.76, and 4 of the 9 models stay below the price. Data coverage for this calculation is medium.
Scenario range: A$43.95 (bear) to A$89.82 (bull), the price of A$47.48 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Washington H Soul Pattinson & Company Ltd reported revenue of A$1.5B in FY2026 versus A$2.6B in FY2022, a compound −12.6%/yr. Reported net income was A$2.2B in FY2026.
Key figures
Market cap A$18.0B (≈ $12.6B) Large · P/E ratio 8.1 · P/S ratio 6.11 · EPS (TTM) A$5.88 · Dividend yield 2.3% · Net margin 74.3% · Return on equity 19.8% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at 34%, SOL screens cheaper than that median.
Fair Value models
BearA$43.95Fair Value A$63.72BullA$89.82
Price A$47.48 · Upside +34.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 3 months old). Earnings retained since then (A$1.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner EarningsA$51.71A$94.03A$177.4173
Residual IncomeA$40.91A$56.51A$105.6772
DDM Multi-StageA$10.74A$19.75A$25.9766
All 9 models by family
DCF Models
Owner EarningsA$51.71A$94.03A$177.4173
Earnings-Based
Graham-DoddA$39.22A$185.86A$255.6464
Lynch FVA$49.37A$70.53A$91.6961
Dividend Discount
Gordon GGMA$10.74A$25.21A$46.8764
DDM Multi-StageA$10.74A$19.75A$25.9766
Multiples
P/E MultipleA$56.23A$74.97A$93.7163
P/B MultipleA$34.41A$45.87A$57.3455
Asset-Based
NCAV (Graham)A$5.12A$7.76A$9.7054
Economic Profit
Residual IncomeA$40.91A$56.51A$105.6772
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.43/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+143.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+60.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
Start year 2021 (pandemic). Over 10 years: +10.3% a year
Revenue growth 37 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+23.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.8%
Dividend (yield on the price)2.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.17.7% vs 24.9%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → −9%
2026 sits 318% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Revenue per share shrinking 2.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (76 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The merger with Brickworks created a deferred tax asset that strengthens capital allocation as the main strength, while the absence of a clear moat together with low ROE and ROA despite high margins remains the central weakness.
Main risk: Volatility in thermal coal prices together with ESG-related regulatory and investor pressures could reduce the value of its stake in New Hope Corporation and weigh on portfolio returns.
Bull case: The company could offset sector-specific pressures by accelerating diversification into data centers, uranium and private credit while using the post-merger tax position to fund selective long-term holdings.
Bear case: Should coal prices stay weak and competitive or regulatory headwinds intensify in telecom holdings without offsetting gains elsewhere, recurring cash flows from the portfolio could stagnate and constrain new investment capacity.
Soul Patts merger with Brickworks created a substantial deferred tax asset, turning a previous constraint into a structural benefit for capital allocation. Recurring net cash flow from investments grew modestly last year while one-offs drove most of the profit surge. Our models see the shares as undervalued. Will the improved tax position enable faster portfolio growth than the slower underlying cash flow expansion can support?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 384 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+34.2% · Above median
Profitability
Return on equity (12 months)19.8% · Top 25%
Return on assets15.6% · Top 25%
Net margin (12 months)74.3% · Top 25%
Operating margin (12 months)−33.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)18.3% · Above median
Dividend yield (12 months)2.3% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Washington H Soul Pattinson & Company Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SOL
Frequently asked questions
Is Washington H Soul Pattinson & Company Ltd (SOL) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of A$63.72 versus a price of A$47.48, about +34% upside (undervalued).
What is the fair value of SOL?
Our model-based fair value for Washington H Soul Pattinson & Company Ltd is A$63.72 (as of Nov 4, 2026), built from audited fundamentals. The current price: A$47.48.
What is the quality score of SOL?
Washington H Soul Pattinson & Company Ltd has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Washington H Soul Pattinson & Company Ltd (SOL)?
Our model-based price target is the fair value of A$63.72 (as of Nov 4, 2026) from 9 valuation models. Cautious scenario A$43.95, optimistic scenario A$89.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Washington H Soul Pattinson & Company Ltd stock forecast for 2026?
Our models put fair value at A$63.72, about +34% upside versus a price of A$47.48 (undervalued). Cautious scenario A$43.95, optimistic scenario A$89.82. The calculation is refreshed regularly with new filings.
What is the revenue of Washington H Soul Pattinson & Company Ltd (SOL)?
Washington H Soul Pattinson & Company Ltd reported trailing-twelve-month revenue of about A$2.9B (latest available figure, as of Nov 4, 2026).
Does Washington H Soul Pattinson & Company Ltd pay a dividend?
Washington H Soul Pattinson & Company Ltd currently shows a dividend yield of 2.34% relative to its recent price (as of Nov 4, 2026).
What is the intrinsic value of Washington H Soul Pattinson & Company Ltd (SOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Washington H Soul Pattinson & Company Ltd it is A$63.72 per share (as of Nov 4, 2026), against a price of A$47.48. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Washington H Soul Pattinson & Company Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, SOL trades below its calculated fair value: price A$47.48, fair value A$63.72, a gap of about +34% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SOL?
No. The price is what the market pays today (A$47.48); the fair value is what the company's own numbers justify (A$63.72). For Washington H Soul Pattinson & Company Ltd the two are A$16.24 per share apart. That gap is exactly why we show both numbers side by side.
How much is Washington H Soul Pattinson & Company Ltd worth?
The market values Washington H Soul Pattinson & Company Ltd at about A$18.0B (market capitalisation, as of Nov 4, 2026). Per share that is A$47.48; our models calculate a fair value of A$63.72 per share.
What do the bullish and bearish scenarios say about SOL?
Our models span a range for Washington H Soul Pattinson & Company Ltd: cautious scenario A$43.95, base A$63.72, optimistic A$89.82 per share (as of Nov 4, 2026, price A$47.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SOL?
Washington H Soul Pattinson & Company Ltd trades at a price-to-earnings ratio of 8.1 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$63.72 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2026), reported earnings: 19.6. Other multiples: PEG 3.5, P/B 1.4, P/S 6.1, EV/EBITDA 11.6.
What is the PEG ratio of SOL?
The PEG ratio of Washington H Soul Pattinson & Company Ltd is 3.55 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Washington H Soul Pattinson & Company Ltd (SOL)?
Balance-sheet figures for Washington H Soul Pattinson & Company Ltd (as of Nov 4, 2026): return on equity 19.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is SOL from its 52-week high?
Washington H Soul Pattinson & Company Ltd trades at A$47.48, at its 52-week high of A$47.67 and 38% above the low of A$34.31 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of A$63.72 is for.
Which stocks are comparable to Washington H Soul Pattinson & Company Ltd?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Washington H Soul Pattinson & Company Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price A$47.48, calculated fair value A$63.72 (+34%), Quality Score 47/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SOL calculated?
We run Washington H Soul Pattinson & Company Ltd through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$63.72, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. Washington H Soul Pattinson & Company Ltd currently trades 25% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Washington H Soul Pattinson & Company Ltd (SOL)?
The closing price on Nov 5, 2026 was A$47.48. Our model-based fair value is A$63.72, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Washington H Soul Pattinson & Company Ltd right now?
The large discount to fair value meets weak quality (47/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (A$43.95 to A$89.82) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Washington H Soul Pattinson & Company Ltd
How large is the market capitalisation of Washington H Soul Pattinson & Company Ltd (SOL)?
The market capitalisation of Washington H Soul Pattinson & Company Ltd is A$18.0B (≈ $12.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Washington H Soul Pattinson & Company Ltd (SOL)?
The price-to-sales ratio of Washington H Soul Pattinson & Company Ltd is 6.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Washington H Soul Pattinson & Company Ltd (SOL)?
Earnings per share at Washington H Soul Pattinson & Company Ltd are A$5.88 (price ÷ EPS = P/E 8.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Washington H Soul Pattinson & Company Ltd (SOL)?
The dividend yield of Washington H Soul Pattinson & Company Ltd is 2.3% (payout 18.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Washington H Soul Pattinson & Company Ltd (SOL)?
The net margin of Washington H Soul Pattinson & Company Ltd is 74.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Washington H Soul Pattinson & Company Ltd (SOL)?
The return on equity (ROE) of Washington H Soul Pattinson & Company Ltd is 19.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Washington H Soul Pattinson & Company Ltd (SOL)?
On an EBIT basis the return on assets of Washington H Soul Pattinson & Company Ltd is 1.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Washington H Soul Pattinson & Company Ltd (SOL)?
The operating margin of Washington H Soul Pattinson & Company Ltd is −33.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Washington H Soul Pattinson & Company Ltd (SOL)?
Revenue at Washington H Soul Pattinson & Company Ltd is growing +18.3% versus a year earlier (3y avg +60.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Washington H Soul Pattinson & Company Ltd (SOL)?
Earnings per share at Washington H Soul Pattinson & Company Ltd are growing +540% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Washington H Soul Pattinson & Company Ltd (SOL) generate?
The free cash flow of Washington H Soul Pattinson & Company Ltd is −A$200M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Washington H Soul Pattinson & Company Ltd (SOL) hold?
Washington H Soul Pattinson & Company Ltd holds more cash than debt, A$1.9B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Some data
Nov 4, 2026