WHA Corporation (WHA-R) Fair Value & Analysis
Real Estate · TH · Market cap 81.5B THB
Fair value as of: Jul 18, 2026
From 17 valuation models · updated 3 days ago
Share price +9.0% over the past month.
Price vs Fair Value (12 months)
12‑month range 2.88 THB – 5.45 THB · fair‑value band 3.70 THB – 5.96 THB · the 5.45 THB price screens above the 4.14 THB fair value. As of Jul 18, 2026.
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WHA Corporation (WHA-R) currently trades at 5.45 THB, while our model-based Fair Value estimate is 4.14 THB, implying the stock looks roughly 24.0% overvalued today. We read business quality at 63/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, WHA Corporation generated revenue of 15.0B THB at a net margin of 30.5%. Revenue declined 40.6% year over year. It earns a return on equity of 12.1%. Net debt stands at 46.6B THB. Fundamentals as of Jul 18, 2026
Our scenario range runs from 3.70 THB (bear case) to 5.96 THB (bull case); at 5.45 THB, the current price sits within that range. The share trades near its 52-week high and 98% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -8% fair-value upside, at -24%, WHA-R screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 18, 2026. TTM = trailing twelve months.
About the company
WHA Corporation Public Company Limited, together with its subsidiaries, develops, rents, and sells lands, buildings, factories, warehouses, and other properties in Thailand and internationally. It also develops and manages properties in industrial estates and zones. In addition, the company provides digital, data center, Internet connection, and other IT services; and public utilities, facilities, and other related services. Further, it is involved in the water utility and power, mobility, and logistics businesses. WHA Corporation Public Company Limited was founded in 2003 and is headquartered in Samut Prakan, Thailand.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
WHA Corporation reported revenue of 15.3B THB in FY2025 versus 10.4B THB in FY2021, a compound +10.0%/yr. Reported net income was 5.1B THB in FY2025, compounding +18.7%/yr from FY2021.
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.