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WHA Corporation (WHA) Fair Value & Analysis

Real Estate · TH · Market cap 74.4B THB

WC WHA Corporation WHA · BK
Price5.10 THB
Fair Value4.14 THB
Upside-18.8%
Quality90/100
Evidence: Medium Range 3.70 THB – 5.96 THB

Fair value as of: Jun 26, 2026

From 17 valuation models · updated 3 days ago

Share price +4.1% over the past month.

Price vs Fair Value (12 months)

5.10 THB 2.70 THB Fair Value 4.14 THB Jun 2025 Jun 2026

12‑month range 2.70 THB – 5.10 THB · fair‑value band 3.70 THB – 5.96 THB · the 5.10 THB price screens above the 4.14 THB fair value. As of Jun 26, 2026.

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Analysis

WHA Corporation (WHA) currently trades at 5.10 THB, while our model-based Fair Value estimate is 4.14 THB — implying the stock looks roughly 18.8% overvalued today. We read business quality at 90/100 (high 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 Jun 26, 2026

Key figures & financial health

Revenue (TTM) 15.0B THB
Revenue growth (YoY) -40.6%
Net margin 30.5%
Return on equity 12.1%
Free cash flow −768M THB FY2025
P/E ratio 16.1
More key figures
Operating margin 31.5%
EPS (TTM) 0.3100 THB
Dividend yield 4.3%
EPS growth (YoY) -27.4%
Net debt 46.6B THB FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 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.

Revenue +10.0%/yr
FY21 10.4B THB
FY22 13.7B THB
FY23 14.9B THB
FY24 11.3B THB
FY25 15.3B THB
Net income +18.7%/yr
FY21 2.6B THB
FY22 4.0B THB
FY23 4.4B THB
FY24 4.4B THB
FY25 5.1B THB

Open the full interactive analysis →

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Frequently asked questions

Is WHA Corporation (WHA) undervalued?
As of Jun 26, 2026, our model estimates a fair value of 4.14 THB versus a price of 5.10 THB — about −19% (overvalued). Model-based estimate, not financial advice.
What is the fair value of WHA?
Our 21-model fair value for WHA Corporation is 4.14 THB (as of Jun 26, 2026), built from audited fundamentals. The current price is 5.10 THB.
What is the quality score of WHA?
WHA Corporation has a Quality Score of 90/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of WHA Corporation (WHA)?
WHA Corporation reported trailing-twelve-month revenue of about 15.0B THB (latest available figure, as of Jun 26, 2026).
What is the net profit margin of WHA?
The net profit margin of WHA Corporation is about 30.5%, meaning it keeps roughly 30.5% of revenue as net income. Based on the latest reported figures.
Does WHA Corporation pay a dividend?
WHA Corporation currently shows a dividend yield of about 4.27% relative to its recent price (as of Jun 26, 2026).

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.