WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust stock THB 8.86, price THB 10.80, that is 18.0% below the price, quality 69 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 6.61 THB – 11.31 THB · fair‑value band 4.97 THB – 12.40 THB · the 10.80 THB price screens above the 8.86 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is a real estate investment trust externally managed by WHA Real Estate Management Company Limited.
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The firm invests mostly in property or property leasehold rights and generate benefit from such properties including to improve, alter, develop or dispose other assets in which the Trust invest or possess whatsoever lease, sub-lease or sale or other process for the benefit of the property and create the revenue and return to the Trust and the unitholders.
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust was formed on December 8, 2014 and is based in Bangkok, Thailand.
Stock analysis
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) currently trades at 10.80 THB, while our model-based Fair Value estimate is 8.86 THB, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 9.92 THB per share, and 3 of the 16 models we run sit above the 10.80 THB price.
Bear case: the Asset-Based group reads lowest at 6.82 THB, and 13 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 4.97 THB (bear) to 12.40 THB (bull), the price of 10.80 THB 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 69/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust reported revenue of 3.5B THB in FY2025 versus 2.6B THB in FY2021, a compound +7.9%/yr. Reported net income was 2.3B THB in FY2025, compounding +3.3%/yr from FY2021.
Key figures
Market cap 37.5B THB (≈ $1.1B) Small · P/E ratio 15.2 · P/S ratio 10.6 · EPS (TTM) 0.7100 THB · Dividend yield 6.3% · Net margin 69.8% · Return on equity 6.7% · Return on assets (EBIT) 5.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 5% fair-value upside, at −18%, WHART screens richer than that median.
Fair Value models
Bear4.97 THBFair Value 8.86 THBBull12.40 THB
Price 10.80 THB · Downside -18.0%
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 2025 figures (about 10 months old). Earnings retained since then (0.0282 THB 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.
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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.0%
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.
+3.1%
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.
+6.4%
Start year 2020 (pandemic). Over 10 years: +26.5% a year
Revenue growth 11 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.
+31.4%
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What shareholders gained per year (last 5 years), in THB ⓘ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. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+4.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.8%
Dividend (yield on the price)6.3%
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.−1.8% vs 14.6%, slowing
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +16.5% a year for the price.
Compare WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust with another stock
Price, fair value, quality and upside side by side.
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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.REIT - Diversified · 138 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−18.0% · Below median
Profitability
Return on equity (12 months)6.7% · Above median
Return on assets4.3% · Above median
Net margin (12 months)69.8% · Top 25%
Operating margin (12 months)90.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)3.2% · Above median
Dividend yield (12 months)6.3% · Above median
Balance sheet
Debt / equity0.33× · Below median
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/E (12 months)15.2× · Pricier than median
P/B1.02× · Priciest 25%
P/S (12 months)10.62× · Priciest 25%
Price / free cash flow (fiscal year)17.6× · Pricier than median
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). "WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust Fair Value". https://www.fairvalue-calculator.com/stock/WHART
Frequently asked questions
Is WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 8.86 THB versus a price of 10.80 THB, about 18% lower (overvalued).
What is the fair value of WHART?
Our model-based fair value for WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 8.86 THB (as of Nov 5, 2026), built from audited fundamentals. The current price: 10.80 THB.
What is the quality score of WHART?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust has a Quality Score of 69/100. 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Our model-based price target is the fair value of 8.86 THB (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 4.97 THB, optimistic scenario 12.40 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust stock forecast for 2026?
Our models put fair value at 8.86 THB, about 18% lower versus a price of 10.80 THB (overvalued). Cautious scenario 4.97 THB, optimistic scenario 12.40 THB. The calculation is refreshed regularly with new filings.
What is the revenue of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust reported trailing-twelve-month revenue of about 3.5B THB (latest available figure, as of Nov 5, 2026).
Does WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust pay a dividend?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust currently shows a dividend yield of 6.27% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) and when is the ex-dividend date?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust pays a dividend of 0.677 THB per share a year, a dividend yield of 6.3%. The last ex-dividend date was Aug 19, 2026. A dividend has been paid every year since at least 2015. The payout ratio is 84.7% of earnings (on adjusted earnings, reported 95.4%). Free cash flow covers the dividend 0.88 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
For today's price to be fair in a discounted-cash-flow model, WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust would have to grow free cash flow by +17.9 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.4 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of WHART use?
Our models discount WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust at 11.6 %: a base by market capitalisation (small), damped by beta 0.37, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust that is +17.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) delivered so far?
Over the past 5 years revenue at WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust grew +6.4 % a year. The price currently implies free-cash-flow growth of +17.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (+17.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The free-cash-flow yield on the price is 5.70 %: that much free cash flow WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust it is 8.86 THB per share (as of Nov 5, 2026), against a price of 10.80 THB. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust stock overvalued or undervalued in 2026?
As of Nov 5, 2026, WHART trades above its calculated fair value: price 10.80 THB, fair value 8.86 THB, a gap of about −18% (overvalued). 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 WHART?
No. The price is what the market pays today (10.80 THB); the fair value is what the company's own numbers justify (8.86 THB). For WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust the two are 1.94 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust worth?
The market values WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust at about 37.5B THB (market capitalisation, as of Nov 5, 2026). Per share that is 10.80 THB; our models calculate a fair value of 8.86 THB per share.
What do the bullish and bearish scenarios say about WHART?
Our models span a range for WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust: cautious scenario 4.97 THB, base 8.86 THB, optimistic 12.40 THB per share (as of Nov 5, 2026, price 10.80 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WHART?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust trades at a price-to-earnings ratio of 15.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 8.86 THB is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 14.2 (reported for FY2025: 15.9). Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 15.9. Other multiples: P/B 1.0, P/S 10.6, EV/EBITDA 17.1.
How solid is the balance sheet of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Balance-sheet figures for WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (as of Nov 5, 2026): return on equity 6.7%, debt of 0.33 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is WHART from its 52-week high?
WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust trades at 10.80 THB, about 4% below its 52-week high of 11.31 THB and 18% above the low of 9.16 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 8.86 THB is for.
Which stocks are comparable to WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust stock attractive at the current price?
The data as of Nov 5, 2026: price 10.80 THB, calculated fair value 8.86 THB (−18%), Quality Score 69/100, from 16 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 WHART calculated?
We run WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 8.86 THB builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust itself currently trades above fair value. 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The closing price on Nov 6, 2026 was 10.80 THB. Our model-based fair value is 8.86 THB, about 18% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust right now?
Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (4.97 THB to 12.40 THB) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust
How large is the market capitalisation of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The market capitalisation of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 37.5B THB (≈ $1.1B). 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The price-to-sales ratio of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 10.6 (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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Earnings per share at WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust are 0.7100 THB (price ÷ EPS = P/E 15.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The dividend yield of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 6.3% (payout 84.7%, on adjusted earnings, reported 95.4%). 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The net margin of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 69.8% (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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The return on equity (ROE) of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 6.7% (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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
On an EBIT basis the return on assets of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 5.4% (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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
The operating margin of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 90.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Revenue at WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is growing +3.2% versus a year earlier (3y avg +3.1%). 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 WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART)?
Earnings per share at WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust are growing +17.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) carry?
The net debt of WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust is 16.4B THB (fiscal year 2025, ≈ 7.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 5, 2026