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WHA Corporation PCL WHA.BK · THB

Real Estate · SET · 🇹🇭 Thailand

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4.84

-0.82%

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 15.26bn

FY2016FY2025

Net income

THB 5.14bn

FY2016FY2025

Free cash flow

−THB 768.3m

FY2016FY2025

Shareholders' equity

THB 36.91bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 15.26bnTHB 11.33bnTHB 14.87bnTHB 13.73bnTHB 10.42bnTHB 6.91bnTHB 10.46bnTHB 8.32bnTHB 9.51bnTHB 17.82bn
Gross profitTHB 7.43bnTHB 6.12bnTHB 6.91bnTHB 6.14bnTHB 4.75bnTHB 3.07bnTHB 4.06bnTHB 3.69bnTHB 4.51bnTHB 6.41bn
Operating incomeTHB 4.94bnTHB 5.39bnTHB 6.85bnTHB 5.22bnTHB 4.66bnTHB 4.23bnTHB 5.23bnTHB 2.84bnTHB 3.74bnTHB 5.02bn
Net incomeTHB 5.14bnTHB 4.36bnTHB 4.43bnTHB 4.05bnTHB 2.59bnTHB 2.52bnTHB 3.23bnTHB 2.91bnTHB 3.27bnTHB 3.17bn
Diluted earnings per share0.340.290.300.270.170.170.210.200.220.21

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 101.40bnTHB 101.54bnTHB 90.22bnTHB 86.30bnTHB 82.77bnTHB 82.62bnTHB 82.26bnTHB 78.34bnTHB 73.62bnTHB 74.78bn
Cash and short-term investmentsTHB 3.60bnTHB 8.22bnTHB 6.51bnTHB 7.17bnTHB 3.57bnTHB 3.80bnTHB 2.93bnTHB 3.98bnTHB 2.49bnTHB 4.74bn
Total liabilitiesTHB 60.80bnTHB 63.03bnTHB 52.90bnTHB 50.69bnTHB 48.74bnTHB 50.45bnTHB 49.16bnTHB 47.33bnTHB 45.09bnTHB 52.82bn
DebtTHB 49.44bnTHB 48.88bnTHB 41.29bnTHB 40.57bnTHB 38.78bnTHB 41.63bnTHB 39.22bnTHB 36.38bnTHB 34.40bnTHB 42.00bn
Shareholders' equityTHB 36.91bnTHB 34.83bnTHB 33.49bnTHB 32.05bnTHB 30.59bnTHB 28.81bnTHB 29.48bnTHB 27.23bnTHB 25.24bnTHB 21.43bn
Shares outstanding14,947m14,947m14,947m14,947m14,945m14,968m15,038m14,574m14,524m15,258m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 1.32bnTHB 2.93bnTHB 5.00bnTHB 4.42bnTHB 2.67bnTHB 2.63bnTHB 2.05bnTHB 422.7mTHB 1.76bn−THB 1.58bn
Capital spending−THB 2.09bn−THB 2.13bn−THB 1.43bn−THB 1.54bn−THB 1.29bn−THB 1.49bn−THB 1.20bn−THB 542.2m−THB 721.7m−THB 269.7m
Free cash flow−THB 768.3mTHB 794.0mTHB 3.57bnTHB 2.88bnTHB 1.38bnTHB 1.13bnTHB 844.2m−THB 119.5mTHB 1.04bn−THB 1.85bn
Dividends paid−THB 2.85bn−THB 2.75bn−THB 2.50bn−THB 2.10bn−THB 1.69bn−THB 1.73bn−THB 2.87bn−THB 1.78bn−THB 2.95bn−THB 11.5m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 2.50bnTHB 3.17bnTHB 5.30bnTHB 1.93bnTHB 3.33bnTHB 4.70bnTHB 3.68bnTHB 2.05bn
Gross profitTHB 1.01bnTHB 1.59bnTHB 2.10bnTHB 992.5mTHB 1.58bnTHB 2.77bnTHB 2.09bnTHB 994.3m
Operating incomeTHB 549.6mTHB 1.09bnTHB 1.19bnTHB 862.0mTHB 1.41bnTHB 2.49bnTHB 1.64bnTHB 956.2m
Net incomeTHB 659.2mTHB 1.51bnTHB 1.45bnTHB 634.3mTHB 980.1mTHB 2.08bnTHB 1.25bnTHB 459.2m
Diluted earnings per share0.040.100.100.040.070.140.080.03
Cash from operationsTHB 1.43bn−THB 82.0mTHB 34.0mTHB 401.0mTHB 453.0mTHB 433.0mTHB 5.48bnTHB 414.0m
Capital spending−THB 604.0m−THB 472.0m−THB 506.0m−THB 421.0m−THB 725.0m−THB 436.0m−THB 543.0m−THB 569.0m
Free cash flowTHB 822.0m−THB 554.0m−THB 472.0m−THB 20.0m−THB 272.0m−THB 3.0mTHB 4.94bn−THB 155.0m
Total assetsTHB 106.43bnTHB 104.13bnTHB 101.40bnTHB 100.76bnTHB 100.74bnTHB 102.55bnTHB 101.54bnTHB 98.31bn
Cash and short-term investmentsTHB 3.74bnTHB 3.51bnTHB 3.60bnTHB 4.72bnTHB 6.17bnTHB 7.99bnTHB 8.22bnTHB 4.76bn
DebtTHB 15.74bnTHB 49.18bnTHB 49.44bnTHB 48.37bnTHB 49.26bnTHB 48.71bnTHB 48.39bnTHB 47.96bn
Shareholders' equityTHB 37.44bnTHB 38.39bnTHB 36.91bnTHB 36.11bnTHB 35.07bnTHB 36.65bnTHB 34.83bnTHB 34.78bn

Financial ratios

Data as of 17 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin48.7%54.0%46.4%44.7%45.6%44.4%
Operating margin32.3%47.5%46.0%38.1%44.7%61.2%
Net margin33.6%38.5%29.8%29.5%24.9%36.5%
Return on equity13.9%12.5%13.2%12.6%8.5%8.8%
Return on assets5.1%4.3%4.9%4.7%3.1%3.1%
Free cash flow yield4.9%7.3%9.2%8.6%5.7%5.9%
Revenue growth34.7%-23.8%8.3%31.8%50.7%-33.9%
Earnings growth17.8%-1.5%9.4%56.2%2.6%-21.8%
Current ratio1.43x1.50x1.28x1.17x0.96x1.18x
Debt to equity1.34x1.39x1.23x1.26x1.26x1.44x
Equity ratio36.4%34.3%37.1%37.1%37.0%34.9%
Interest coverage3.69x3.91x5.55x4.64x4.21x3.92x
Buybacks as a share of market value0.0%0.0%0.0%-0.0%0.2%0.5%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue3.6%17.2%2.9%
Operating income-1.9%3.1%5.2%
Net income8.3%15.3%10.1%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin50.9%48.2%47.5%43.9%
Operating margin38.8%40.6%43.1%39.3%
Net margin35.7%32.5%31.8%28.9%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings9.618.917.915.120.318.018.121.517.814.3
Price to sales3.27.35.34.45.06.65.67.56.12.5

Dividends and splits

Per share, in the currency the company pays

Paid for 9 years. Last went ex-dividend on 11 May 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.1440.1910.1840.1670.140.090.090.165
  • 10-for-1 split · 6 May 2015
  • 21-for-20 split · 6 May 2014
  • 3-for-2 split · 2 Sept 2013
  • 6-for-5 split · 23 Apr 2013

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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