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Wha Utilities and Power PCL WHAUP.BK · THB

Utilities · SET · 🇹🇭 Thailand

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6.85

-0.72%

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 3.19bn

FY2016FY2025

Net income

THB 1.02bn

FY2016FY2025

Free cash flow

THB 403.1m

FY2016FY2025

Shareholders' equity

THB 13.49bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 3.19bnTHB 2.93bnTHB 2.78bnTHB 2.44bnTHB 2.18bnTHB 1.70bnTHB 1.86bnTHB 1.71bnTHB 1.63bnTHB 1.60bn
Gross profitTHB 1.31bnTHB 1.05bnTHB 1.00bnTHB 782.1mTHB 704.6mTHB 499.8mTHB 692.8mTHB 588.3mTHB 541.4mTHB 539.0m
Operating incomeTHB 900.8mTHB 709.1mTHB 727.3mTHB 675.1mTHB 759.2mTHB 1.18bnTHB 2.44bnTHB 2.66bnTHB 2.44bnTHB 448.7m
Net incomeTHB 1.02bnTHB 1.12bnTHB 1.63bnTHB 454.1mTHB 735.5mTHB 812.7mTHB 2.14bnTHB 2.25bnTHB 1.98bnTHB 967.9m
Diluted earnings per share0.270.290.430.120.190.190.490.580.520.28

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 31.65bnTHB 31.25bnTHB 29.82bnTHB 27.65bnTHB 25.84bnTHB 26.17bnTHB 26.42bnTHB 23.77bnTHB 21.38bnTHB 18.65bn
Cash and short-term investmentsTHB 1.20bnTHB 1.60bnTHB 1.30bnTHB 721.2mTHB 904.5mTHB 1.78bnTHB 754.6mTHB 853.5mTHB 591.6mTHB 147.5m
Total liabilitiesTHB 18.16bnTHB 17.68bnTHB 16.25bnTHB 15.02bnTHB 13.45bnTHB 14.01bnTHB 12.86bnTHB 9.72bnTHB 8.80bnTHB 11.23bn
DebtTHB 16.87bnTHB 16.52bnTHB 15.11bnTHB 13.93bnTHB 12.39bnTHB 13.11bnTHB 11.76bnTHB 8.99bnTHB 7.93bnTHB 10.42bn
Shareholders' equityTHB 13.49bnTHB 13.56bnTHB 13.57bnTHB 12.62bnTHB 12.38bnTHB 12.16bnTHB 13.56bnTHB 14.05bnTHB 12.58bnTHB 7.42bn
Shares outstanding3,825m3,825m3,825m3,825m3,915m4,357m4,350m3,857m3,825m3,513m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 1.92bnTHB 1.75bnTHB 1.39bnTHB 780.5mTHB 1.47bnTHB 1.90bnTHB 1.09bnTHB 730.9mTHB 870.3mTHB 58.3m
Capital spending−THB 1.52bn−THB 1.79bn−THB 1.28bn−THB 1.44bn−THB 585.4m−THB 1.03bn−THB 819.1m−THB 322.3m−THB 352.3m−THB 160.2m
Free cash flowTHB 403.1m−THB 37.3mTHB 113.1m−THB 658.9mTHB 886.1mTHB 864.4mTHB 274.5mTHB 408.6mTHB 518.0m−THB 101.9m
Dividends paid−THB 965.7m−THB 965.8m−THB 612.0m−THB 841.5m−THB 965.8m−THB 965.7m−THB 1.16bn−THB 778.0m−THB 778.0m—

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 867.2mTHB 1.12bnTHB 768.8mTHB 955.8mTHB 765.1mTHB 704.6mTHB 713.4mTHB 769.4m
Gross profitTHB 362.2mTHB 631.7mTHB 276.4mTHB 475.8mTHB 304.3mTHB 254.1mTHB 216.1mTHB 292.6m
Operating incomeTHB 269.1mTHB 527.2mTHB 164.7mTHB 491.2mTHB 211.7mTHB 304.5mTHB 225.8mTHB 226.4m
Net incomeTHB 531.8mTHB 303.2mTHB 164.3mTHB 486.7mTHB 141.5mTHB 223.8mTHB 235.5mTHB 80.9m
Diluted earnings per share0.140.080.040.130.040.060.060.02
Cash from operationsTHB 1.12bnTHB 303.0mTHB 601.0mTHB 378.0mTHB 553.0mTHB 384.0mTHB 627.0mTHB 324.0m
Capital spending−THB 498.0m−THB 439.0m−THB 361.0m−THB 343.0m−THB 395.0m−THB 420.0m−THB 493.0m−THB 555.0m
Free cash flowTHB 624.0m−THB 136.0mTHB 240.0mTHB 35.0mTHB 158.0m−THB 36.0mTHB 134.0m−THB 231.0m
Total assetsTHB 32.64bnTHB 31.99bnTHB 31.65bnTHB 31.44bnTHB 30.98bnTHB 31.56bnTHB 31.25bnTHB 31.15bn
Cash and short-term investmentsTHB 1.51bnTHB 834.0mTHB 1.20bnTHB 1.09bnTHB 1.06bnTHB 1.49bnTHB 1.60bnTHB 1.32bn
DebtTHB 2.99bnTHB 16.31bnTHB 16.43bnTHB 16.23bnTHB 16.20bnTHB 15.99bnTHB 16.08bnTHB 15.72bn
Shareholders' equityTHB 13.62bnTHB 13.81bnTHB 13.49bnTHB 13.53bnTHB 13.09bnTHB 13.72bnTHB 13.56bnTHB 13.65bn

Financial ratios

Data as of 29 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin41.0%36.0%36.1%32.0%32.3%29.4%
Operating margin28.2%24.2%26.1%27.6%34.8%69.4%
Net margin31.8%38.2%58.6%18.6%33.7%47.9%
Return on equity7.5%8.2%12.0%3.6%5.9%6.7%
Return on assets3.2%3.6%5.5%1.6%2.8%3.1%
Free cash flow yield12.7%13.1%9.9%8.2%7.5%9.5%
Revenue growth9.2%5.2%13.9%12.0%28.4%-8.6%
Earnings growth-9.2%-31.4%259.2%-38.3%-9.5%-62.0%
Current ratio0.47x0.61x0.47x0.27x0.27x0.74x
Debt to equity1.22x1.19x1.08x1.07x0.98x1.06x
Equity ratio42.6%43.4%45.5%45.7%47.9%46.5%
Interest coverage1.65x1.32x1.56x1.63x1.85x2.72x
Buybacks as a share of market value0.0%0.0%0.0%2.3%10.1%-0.2%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue9.4%13.5%7.5%
Operating income10.1%-5.2%-6.4%
Net income30.8%4.6%-1.8%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin38.6%36.6%35.2%34.8%
Operating margin26.3%26.6%32.5%62.3%
Net margin34.9%37.2%37.9%60.8%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Price to earnings15.816.59.234.521.722.511.19.515.6
Price to sales5.06.35.46.47.310.812.812.519.0

Dividends and splits

Per share, in the currency the company pays

Paid for 8 years. Last went ex-dividend on 28 Apr 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.1930.2530.2530.160.220.2530.2530.151
  • 5-for-1 split · 13 Jul 2017

Sources and methodology

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

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.