View Future GrowthWHA Corporation 過去の業績過去 基準チェック /26WHAは、平均年間12.9%の収益成長を遂げていますが、 Real Estate業界の収益は、年間 減少しています。収益は、平均年間1.5% 8.8%収益成長率で 成長しています。 WHAの自己資本利益率は11.6%であり、純利益率は30.6%です。主要情報12.90%収益成長率12.93%EPS成長率Real Estate 業界の成長8.35%収益成長率8.82%株主資本利益率11.58%ネット・マージン30.59%次回の業績アップデート14 Aug 2026最近の業績更新Reported Earnings • 17hSecond quarter 2026 earnings: EPS and revenues miss analyst expectationsSecond quarter 2026 results: EPS: ฿0.044 (down from ฿0.066 in 2Q 2025). Revenue: ฿2.50b (down 33% from 2Q 2025). Net income: ฿659.2m (down 33% from 2Q 2025). Profit margin: 26% (in line with 2Q 2025). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.Reported Earnings • May 16First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: ฿0.10 (down from ฿0.14 in 1Q 2025). Revenue: ฿3.17b (down 38% from 1Q 2025). Net income: ฿1.51b (down 27% from 1Q 2025). Profit margin: 48% (up from 41% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.お知らせ • Jan 26+ 3 more updatesWHA Corporation Public Company Limited to Report Q1, 2026 Results on May 13, 2026WHA Corporation Public Company Limited announced that they will report Q1, 2026 results on May 13, 2026Reported Earnings • Aug 09Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: ฿0.066 (down from ฿0.09 in 2Q 2024). Revenue: ฿3.33b (up 14% from 2Q 2024). Net income: ฿980.1m (down 24% from 2Q 2024). Profit margin: 29% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 10First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: ฿0.14 (up from ฿0.091 in 1Q 2024). Revenue: ฿4.70b (up 36% from 1Q 2024). Net income: ฿2.08b (up 52% from 1Q 2024). Profit margin: 44% (up from 40% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Reported Earnings • Feb 22Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.29 (down from ฿0.30 in FY 2023). Revenue: ฿11.3b (down 31% from FY 2023). Net income: ฿4.36b (down 1.5% from FY 2023). Profit margin: 39% (up from 27% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.すべての更新を表示Recent updatesReported Earnings • 17hSecond quarter 2026 earnings: EPS and revenues miss analyst expectationsSecond quarter 2026 results: EPS: ฿0.044 (down from ฿0.066 in 2Q 2025). Revenue: ฿2.50b (down 33% from 2Q 2025). Net income: ฿659.2m (down 33% from 2Q 2025). Profit margin: 26% (in line with 2Q 2025). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.Reported Earnings • May 16First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: ฿0.10 (down from ฿0.14 in 1Q 2025). Revenue: ฿3.17b (down 38% from 1Q 2025). Net income: ฿1.51b (down 27% from 1Q 2025). Profit margin: 48% (up from 41% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.Upcoming Dividend • May 05Upcoming dividend of ฿0.14 per shareEligible shareholders must have bought the stock before 11 May 2026. Payment date: 28 May 2026. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (4.8%).Declared Dividend • Mar 01Final dividend increased to ฿0.14Dividend of ฿0.14 is 16% higher than last year. Ex-date: 11th May 2026 Payment date: 28th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not covered by cash flows (215% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 9.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Feb 27WHA Corporation Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2025, Payable on May 28, 2026WHA Corporation Public Company Limited at its AGM to be held on 28 April 2026 proposed cash dividend payment from 2025 operating performance for the year ended December 31, 2025 at THB 0.1438 per share in the amount not exceeding THB 2,150 million. The Company has determined the Record Date for the shareholders' right to receive the dividend on May 12, 2026 and the dividend payment date shall be on May 28, 2026. However, the right to receive the dividend is uncertain as it is subject to the approval of this Annual General Meeting of Shareholders. Ex-dividend date is 11 May 2026.お知らせ • Feb 26WHA Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026WHA Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026, at 14:00 SE Asia Standard Time.Valuation Update With 7 Day Price Move • Feb 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿3.94, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Real Estate industry in Thailand. Total returns to shareholders of 16% over the past three years.お知らせ • Jan 26+ 3 more updatesWHA Corporation Public Company Limited to Report Q1, 2026 Results on May 13, 2026WHA Corporation Public Company Limited announced that they will report Q1, 2026 results on May 13, 2026Declared Dividend • Nov 16Dividend of ฿0.067 announcedShareholders will receive a dividend of ฿0.067. Ex-date: 27th November 2025 Payment date: 12th December 2025 Dividend yield will be 6.1%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend.Reported Earnings • Aug 09Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: ฿0.066 (down from ฿0.09 in 2Q 2024). Revenue: ฿3.33b (up 14% from 2Q 2024). Net income: ฿980.1m (down 24% from 2Q 2024). Profit margin: 29% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Price Target Changed • Aug 04Price target decreased by 8.6% to ฿4.25Down from ฿4.65, the current price target is an average from 15 analysts. New target price is 22% above last closing price of ฿3.48. Stock is down 30% over the past year. The company is forecast to post earnings per share of ฿0.33 for next year compared to ฿0.29 last year.Reported Earnings • May 10First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: ฿0.14 (up from ฿0.091 in 1Q 2024). Revenue: ฿4.70b (up 36% from 1Q 2024). Net income: ฿2.08b (up 52% from 1Q 2024). Profit margin: 44% (up from 40% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 30Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 07 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 65% and the cash payout ratio is 97%. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (5.8%).お知らせ • Apr 24WHA Corporation Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025WHA Corporation Public Company Limited announced that at its AGM held on April 24, 2025, the meeting acknowledged the interim dividend payment and approved the additional dividend payment from the 2024 operating performance at THB 0.1237 per share in the amount not exceeding THB 1,850 million; and it is not necessary to allocate its net profit for legal reserve because the legal reserve had fully been allocated as required by law. The Record Date for the shareholders' right to receive the dividend shall be on May 8, 2025 and the dividend payment date shall be on May 23, 2025.New Risk • Apr 10New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Dividend is not well covered by cash flows (97% cash payout ratio).Buy Or Sell Opportunity • Apr 10Now 24% overvaluedOver the last 90 days, the stock has fallen 45% to ฿2.84. The fair value is estimated to be ฿2.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 3.7% per annum over the same time period.Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿2.94, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total loss to shareholders of 2.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿2.53 per share.Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to ฿3.44, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿2.03 per share.Declared Dividend • Feb 26Final dividend increased to ฿0.12Dividend of ฿0.12 is 5.7% higher than last year. Ex-date: 7th May 2025 Payment date: 23rd May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Feb 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change).お知らせ • Feb 24+ 1 more updateWHA Corporation Public Company Limited, Annual General Meeting, Apr 24, 2025WHA Corporation Public Company Limited, Annual General Meeting, Apr 24, 2025, at 14:00 SE Asia Standard Time. Location: b.e. 2020, ThailandReported Earnings • Feb 22Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.29 (down from ฿0.30 in FY 2023). Revenue: ฿11.3b (down 31% from FY 2023). Net income: ฿4.36b (down 1.5% from FY 2023). Profit margin: 39% (up from 27% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Declared Dividend • Nov 11Dividend of ฿0.067 announcedShareholders will receive a dividend of ฿0.067. Ex-date: 21st November 2024 Payment date: 6th December 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.0% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: ฿0.031 (down from ฿0.042 in 3Q 2023). Revenue: ฿2.05b (down 17% from 3Q 2023). Net income: ฿459.2m (down 26% from 3Q 2023). Profit margin: 22% (down from 25% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 10Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: ฿0.09 (up from ฿0.058 in 2Q 2023). Revenue: ฿2.32b (down 18% from 2Q 2023). Net income: ฿1.29b (up 49% from 2Q 2023). Profit margin: 56% (up from 30% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 11First quarter 2024 earnings released: EPS: ฿0.091 (vs ฿0.035 in 1Q 2023)First quarter 2024 results: EPS: ฿0.091 (up from ฿0.035 in 1Q 2023). Revenue: ฿3.28b (up 41% from 1Q 2023). Net income: ฿1.36b (up 161% from 1Q 2023). Profit margin: 42% (up from 23% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.お知らせ • Apr 26WHA Corporation Public Company Limited Approves Dividend, Payable on May 24, 2024WHA Corporation Public Company Limited held the 2024 Annual General Meeting of Shareholders on April 25, 2024, the Meeting acknowledged the interim dividend and approved the additional dividend payment from 2023 operating performance at THB 0.1170 per share in the amount of not exceeding THB 1,750 million; and did not allocate its net profit for legal reserve because the legal reserve had fully been allocated as required by law. The Record Date for the shareholders' right to receive the dividend shall be on May 10, 2024 and the dividend payment date shall be on May 24, 2024.Declared Dividend • Feb 25Final dividend increased to ฿0.12Dividend of ฿0.12 is 17% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 43% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: ฿0.30 (up from ฿0.27 in FY 2022). Revenue: ฿14.9b (up 3.9% from FY 2022). Net income: ฿4.43b (up 9.4% from FY 2022). Profit margin: 30% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 24WHA Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024WHA Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the Company's 2023 operating performance and the management discussion and analysis (MD&A); to consider and approve the Company's financial statements for the fiscal year ended December 31, 2023 audited by the certified public accountant; to consider and approve the dividend payment for the 2023 performance and legal reserve allocation; to consider and approve the appointment of directors to replace the directors who are due to retire by rotation; to consider and approve the directors' remuneration for 2024; to consider and approve the appointment of auditors and the auditor's fee for 2024; and to consider other business (if any).お知らせ • Feb 23WHA Corporation Public Company Limited Declares Dividend, Payable on May 10, 2024The board of directors of WHA Corporation Public Company Limited at its meeting held on February 23, 2024, Approved to propose the 2024 Annual General Meeting of Shareholders to consider approving the additional dividend payment from the 2023 operating performance at the rate of THB 0.1170 per share, amounting to not more than THB 1,750 million approximately. The Record Date for the shareholders' right to receive the dividend shall be May 10, 2024 and the dividend payment date shall be on May 24, 2024. However, the right to receive the dividend is uncertain as it is subject to the approval from the Annual General Meeting of Shareholders to be held on April 25, 2024.Upcoming Dividend • Nov 15Upcoming dividend of ฿0.067 per share at 3.3% yieldEligible shareholders must have bought the stock before 22 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (4.3%).お知らせ • Nov 10Wha Corporation Public Company Limited Announces Dividend for the Operating Period from 01-Jan-2023 to 30-Sep-2023, Payable on 08-Dec-2023WHA Corporation Public Company Limited announced cash dividend of 0.0669 baht per share for the operating period from 01-Jan-2023 to 30-Sep-2023. Ex-dividend date 22-Nov-2023, Record date for the right to receive dividends 23-Nov-2023 and Payment date 08-Dec-2023.Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: ฿0.042 (vs ฿0.017 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.042 (up from ฿0.017 in 3Q 2022). Revenue: ฿2.12b (up 22% from 3Q 2022). Net income: ฿622.8m (up 141% from 3Q 2022). Profit margin: 29% (up from 15% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 11Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: ฿0.058 (up from ฿0.019 in 2Q 2022). Revenue: ฿2.67b (up 49% from 2Q 2022). Net income: ฿866.1m (up 199% from 2Q 2022). Profit margin: 32% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 04Upcoming dividend of ฿0.10 per share at 3.8% yieldEligible shareholders must have bought the stock before 11 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (6.2%). In line with average of industry peers (4.1%).Reported Earnings • Feb 27Full year 2022 earnings released: EPS: ฿0.27 (vs ฿0.17 in FY 2021)Full year 2022 results: EPS: ฿0.27 (up from ฿0.17 in FY 2021). Revenue: ฿13.7b (up 28% from FY 2021). Net income: ฿4.05b (up 56% from FY 2021). Profit margin: 30% (up from 24% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Nov 18Upcoming dividend of ฿0.067 per shareEligible shareholders must have bought the stock before 25 November 2022. Payment date: 09 December 2022. Payout ratio is a comfortable 65% and the cash payout ratio is 83%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (3.2%).Board Change • Nov 16High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Director Ajarin Pattanapanchai was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 13Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: EPS: ฿0.017 (up from ฿0.011 in 3Q 2021). Revenue: ฿1.98b (up 78% from 3Q 2021). Net income: ฿258.6m (up 61% from 3Q 2021). Profit margin: 13% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year.Reported Earnings • Aug 14Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: ฿0.019 (up from ฿0.017 in 2Q 2021). Revenue: ฿1.79b (up 9.0% from 2Q 2021). Net income: ฿289.6m (up 11% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is forecast to stay flat compared to a 22% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year.Major Estimate Revision • May 25Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿8.58b to ฿11.0b. EPS estimate unchanged from ฿0.23 at last update. Real Estate industry in Thailand expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at ฿4.08. Share price fell 2.5% to ฿3.10 over the past week.Reported Earnings • May 16First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.044 (up from ฿0.009 in 1Q 2021). Revenue: ฿1.58b (up 58% from 1Q 2021). Net income: ฿656.1m (up 387% from 1Q 2021). Profit margin: 42% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 76%. Over the next year, revenue is expected to shrink by 1.6% compared to a 18% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (5.1%). In line with average of industry peers (3.1%).Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Apr 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Mar 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Feb 25Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿0.17 (up from ฿0.17 in FY 2020). Revenue: ฿10.4b (up 28% from FY 2020). Net income: ฿2.59b (up 2.6% from FY 2020). Profit margin: 25% (down from 31% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 1.4%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Nov 18Upcoming dividend of ฿0.027 per shareEligible shareholders must have bought the stock before 25 November 2021. Payment date: 09 December 2021. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.3%).Reported Earnings • Nov 16Third quarter 2021 earnings released: EPS ฿0.011 (vs ฿0.029 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.11b (up 5.2% from 3Q 2020). Net income: ฿160.3m (down 63% from 3Q 2020). Profit margin: 14% (down from 41% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 11Second quarter 2021 earnings released: EPS ฿0.023 (vs ฿0.036 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.18b (up 26% from 2Q 2020). Net income: ฿260.2m (down 52% from 2Q 2020). Profit margin: 12% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.009 (vs ฿0.007 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.04b (up 12% from 1Q 2020). Net income: ฿134.7m (up 36% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year.Upcoming Dividend • Apr 30Upcoming dividend of ฿0.064 per shareEligible shareholders must have bought the stock before 07 May 2021. Payment date: 25 May 2021. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (4.8%). Lower than average of industry peers (3.8%).Executive Departure • Apr 29Independent Director has left the companyOn the 26th of April, Somsak Pratomsrimek's tenure as Independent Director ended after 9.0 years in the role. We don't have any record of a personal shareholding under Somsak's name. A total of 2 executives have left over the last 12 months.Is New 90 Day High Low • Mar 09New 90-day high: ฿3.50The company is up 12% from its price of ฿3.12 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.18 per share.Analyst Estimate Surprise Post Earnings • Mar 03Revenue and earnings miss expectationsRevenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 51%, compared to a 12% growth forecast for the Real Estate industry in Thailand.Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.17 (vs ฿0.22 in FY 2019)The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: ฿6.91b (down 44% from FY 2019). Net income: ฿2.52b (down 22% from FY 2019). Profit margin: 37% (up from 26% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Feb 09New 90-day high: ฿3.34The company is up 18% from its price of ฿2.82 on 11 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.05 per share.Is New 90 Day High Low • Nov 29New 90-day high: ฿3.22The company is up 1.0% from its price of ฿3.20 on 31 August 2020. The Thai market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.97 per share.Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.029The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: ฿1.05b (down 49% from 3Q 2019). Net income: ฿428.6m (down 25% from 3Q 2019). Profit margin: 41% (up from 27% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year.Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 18% share price gain to ฿2.82, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 14.8x. This compares to an average P/E of 10x in the Real Estate industry in Thailand. Total return to shareholders over the past three years is a loss of 23%.Is New 90 Day High Low • Oct 16New 90-day low: ฿2.72The company is down 12% from its price of ฿3.10 on 17 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.85 per share.Is New 90 Day High Low • Sep 22New 90-day low: ฿2.82The company is down 16% from its price of ฿3.34 on 24 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.80 per share.収支内訳WHA Corporation の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史SET:WHA 収益、費用、利益 ( )THB Millions日付収益収益G+A経費研究開発費30 Jun 2613,8834,2472,322031 Mar 2614,9974,5682,382031 Dec 2517,0655,1352,496030 Sep 2515,1214,9362,240030 Jun 2515,5354,7612,200031 Mar 2514,7145,0702,137031 Dec 2413,0714,3591,972030 Sep 2417,9315,5272,138030 Jun 2417,5855,6902,156031 Mar 2417,4995,2682,137031 Dec 2316,3704,4262,105030 Sep 2316,8234,8532,155030 Jun 2316,0864,4892,108031 Mar 2315,0323,9132,042031 Dec 2214,3144,0461,982030 Sep 2212,1283,2391,721030 Jun 2211,5013,1411,643031 Mar 2211,3533,1111,635031 Dec 2110,7422,5901,604030 Sep 218,1552,0091,418030 Jun 218,1002,2771,367031 Mar 218,1862,5591,303031 Dec 208,1232,5241,295030 Sep 207,5962,2711,395030 Jun 208,6192,4121,509031 Mar 209,6532,9221,705031 Dec 1912,4093,2291,731030 Sep 1912,7123,4891,774030 Jun 1912,2173,2821,741031 Mar 1911,3092,5341,629031 Dec 1810,9522,9071,608030 Sep 1811,9493,1531,643030 Jun 1812,1803,2961,607031 Mar 1813,5803,9661,691031 Dec 1711,4773,2661,702030 Sep 1720,1343,9601,773030 Jun 1719,8503,4971,747031 Mar 1718,4622,8591,542031 Dec 1618,8622,8981,495030 Sep 1613,9862,2821,359030 Jun 1613,6992,1871,267031 Mar 1613,6012,0781,331031 Dec 1512,4751,9541,133030 Sep 158,0191,0827890質の高い収益: WHAは 高品質の収益 を持っています。利益率の向上: WHAの現在の純利益率 (30.6%)は、昨年(30.6%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: WHAの収益は過去 5 年間で年間12.9%増加しました。成長の加速: WHAは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: WHAは過去 1 年間で収益成長率がマイナス ( -10.8% ) となったため、 Real Estate業界平均 ( -5.8% ) と比較することが困難です。株主資本利益率高いROE: WHAの 自己資本利益率 ( 11.6% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YReal-estate-management-and-development 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/13 11:54終値2026/08/13 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋WHA Corporation Public Company Limited 15 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。29 アナリスト機関Narumon EkasamutBofA Global ResearchWikij TirawannaratBualuang Securities PCLPanjapon TaensricharoenBualuang Securities PCL26 その他のアナリストを表示
Reported Earnings • 17hSecond quarter 2026 earnings: EPS and revenues miss analyst expectationsSecond quarter 2026 results: EPS: ฿0.044 (down from ฿0.066 in 2Q 2025). Revenue: ฿2.50b (down 33% from 2Q 2025). Net income: ฿659.2m (down 33% from 2Q 2025). Profit margin: 26% (in line with 2Q 2025). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.
Reported Earnings • May 16First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: ฿0.10 (down from ฿0.14 in 1Q 2025). Revenue: ฿3.17b (down 38% from 1Q 2025). Net income: ฿1.51b (down 27% from 1Q 2025). Profit margin: 48% (up from 41% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.
お知らせ • Jan 26+ 3 more updatesWHA Corporation Public Company Limited to Report Q1, 2026 Results on May 13, 2026WHA Corporation Public Company Limited announced that they will report Q1, 2026 results on May 13, 2026
Reported Earnings • Aug 09Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: ฿0.066 (down from ฿0.09 in 2Q 2024). Revenue: ฿3.33b (up 14% from 2Q 2024). Net income: ฿980.1m (down 24% from 2Q 2024). Profit margin: 29% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 10First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: ฿0.14 (up from ฿0.091 in 1Q 2024). Revenue: ฿4.70b (up 36% from 1Q 2024). Net income: ฿2.08b (up 52% from 1Q 2024). Profit margin: 44% (up from 40% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Feb 22Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.29 (down from ฿0.30 in FY 2023). Revenue: ฿11.3b (down 31% from FY 2023). Net income: ฿4.36b (down 1.5% from FY 2023). Profit margin: 39% (up from 27% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • 17hSecond quarter 2026 earnings: EPS and revenues miss analyst expectationsSecond quarter 2026 results: EPS: ฿0.044 (down from ฿0.066 in 2Q 2025). Revenue: ฿2.50b (down 33% from 2Q 2025). Net income: ฿659.2m (down 33% from 2Q 2025). Profit margin: 26% (in line with 2Q 2025). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.
Reported Earnings • May 16First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: ฿0.10 (down from ฿0.14 in 1Q 2025). Revenue: ฿3.17b (down 38% from 1Q 2025). Net income: ฿1.51b (down 27% from 1Q 2025). Profit margin: 48% (up from 41% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.
Upcoming Dividend • May 05Upcoming dividend of ฿0.14 per shareEligible shareholders must have bought the stock before 11 May 2026. Payment date: 28 May 2026. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (4.8%).
Declared Dividend • Mar 01Final dividend increased to ฿0.14Dividend of ฿0.14 is 16% higher than last year. Ex-date: 11th May 2026 Payment date: 28th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not covered by cash flows (215% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 9.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 27WHA Corporation Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2025, Payable on May 28, 2026WHA Corporation Public Company Limited at its AGM to be held on 28 April 2026 proposed cash dividend payment from 2025 operating performance for the year ended December 31, 2025 at THB 0.1438 per share in the amount not exceeding THB 2,150 million. The Company has determined the Record Date for the shareholders' right to receive the dividend on May 12, 2026 and the dividend payment date shall be on May 28, 2026. However, the right to receive the dividend is uncertain as it is subject to the approval of this Annual General Meeting of Shareholders. Ex-dividend date is 11 May 2026.
お知らせ • Feb 26WHA Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026WHA Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026, at 14:00 SE Asia Standard Time.
Valuation Update With 7 Day Price Move • Feb 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿3.94, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Real Estate industry in Thailand. Total returns to shareholders of 16% over the past three years.
お知らせ • Jan 26+ 3 more updatesWHA Corporation Public Company Limited to Report Q1, 2026 Results on May 13, 2026WHA Corporation Public Company Limited announced that they will report Q1, 2026 results on May 13, 2026
Declared Dividend • Nov 16Dividend of ฿0.067 announcedShareholders will receive a dividend of ฿0.067. Ex-date: 27th November 2025 Payment date: 12th December 2025 Dividend yield will be 6.1%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend.
Reported Earnings • Aug 09Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: ฿0.066 (down from ฿0.09 in 2Q 2024). Revenue: ฿3.33b (up 14% from 2Q 2024). Net income: ฿980.1m (down 24% from 2Q 2024). Profit margin: 29% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Aug 04Price target decreased by 8.6% to ฿4.25Down from ฿4.65, the current price target is an average from 15 analysts. New target price is 22% above last closing price of ฿3.48. Stock is down 30% over the past year. The company is forecast to post earnings per share of ฿0.33 for next year compared to ฿0.29 last year.
Reported Earnings • May 10First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: ฿0.14 (up from ฿0.091 in 1Q 2024). Revenue: ฿4.70b (up 36% from 1Q 2024). Net income: ฿2.08b (up 52% from 1Q 2024). Profit margin: 44% (up from 40% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 30Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 07 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 65% and the cash payout ratio is 97%. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (5.8%).
お知らせ • Apr 24WHA Corporation Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025WHA Corporation Public Company Limited announced that at its AGM held on April 24, 2025, the meeting acknowledged the interim dividend payment and approved the additional dividend payment from the 2024 operating performance at THB 0.1237 per share in the amount not exceeding THB 1,850 million; and it is not necessary to allocate its net profit for legal reserve because the legal reserve had fully been allocated as required by law. The Record Date for the shareholders' right to receive the dividend shall be on May 8, 2025 and the dividend payment date shall be on May 23, 2025.
New Risk • Apr 10New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Dividend is not well covered by cash flows (97% cash payout ratio).
Buy Or Sell Opportunity • Apr 10Now 24% overvaluedOver the last 90 days, the stock has fallen 45% to ฿2.84. The fair value is estimated to be ฿2.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 3.7% per annum over the same time period.
Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿2.94, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total loss to shareholders of 2.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿2.53 per share.
Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to ฿3.44, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿2.03 per share.
Declared Dividend • Feb 26Final dividend increased to ฿0.12Dividend of ฿0.12 is 5.7% higher than last year. Ex-date: 7th May 2025 Payment date: 23rd May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Feb 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change).
お知らせ • Feb 24+ 1 more updateWHA Corporation Public Company Limited, Annual General Meeting, Apr 24, 2025WHA Corporation Public Company Limited, Annual General Meeting, Apr 24, 2025, at 14:00 SE Asia Standard Time. Location: b.e. 2020, Thailand
Reported Earnings • Feb 22Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.29 (down from ฿0.30 in FY 2023). Revenue: ฿11.3b (down 31% from FY 2023). Net income: ฿4.36b (down 1.5% from FY 2023). Profit margin: 39% (up from 27% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Nov 11Dividend of ฿0.067 announcedShareholders will receive a dividend of ฿0.067. Ex-date: 21st November 2024 Payment date: 6th December 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.0% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: ฿0.031 (down from ฿0.042 in 3Q 2023). Revenue: ฿2.05b (down 17% from 3Q 2023). Net income: ฿459.2m (down 26% from 3Q 2023). Profit margin: 22% (down from 25% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 10Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: ฿0.09 (up from ฿0.058 in 2Q 2023). Revenue: ฿2.32b (down 18% from 2Q 2023). Net income: ฿1.29b (up 49% from 2Q 2023). Profit margin: 56% (up from 30% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 11First quarter 2024 earnings released: EPS: ฿0.091 (vs ฿0.035 in 1Q 2023)First quarter 2024 results: EPS: ฿0.091 (up from ฿0.035 in 1Q 2023). Revenue: ฿3.28b (up 41% from 1Q 2023). Net income: ฿1.36b (up 161% from 1Q 2023). Profit margin: 42% (up from 23% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
お知らせ • Apr 26WHA Corporation Public Company Limited Approves Dividend, Payable on May 24, 2024WHA Corporation Public Company Limited held the 2024 Annual General Meeting of Shareholders on April 25, 2024, the Meeting acknowledged the interim dividend and approved the additional dividend payment from 2023 operating performance at THB 0.1170 per share in the amount of not exceeding THB 1,750 million; and did not allocate its net profit for legal reserve because the legal reserve had fully been allocated as required by law. The Record Date for the shareholders' right to receive the dividend shall be on May 10, 2024 and the dividend payment date shall be on May 24, 2024.
Declared Dividend • Feb 25Final dividend increased to ฿0.12Dividend of ฿0.12 is 17% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 43% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: ฿0.30 (up from ฿0.27 in FY 2022). Revenue: ฿14.9b (up 3.9% from FY 2022). Net income: ฿4.43b (up 9.4% from FY 2022). Profit margin: 30% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 24WHA Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024WHA Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the Company's 2023 operating performance and the management discussion and analysis (MD&A); to consider and approve the Company's financial statements for the fiscal year ended December 31, 2023 audited by the certified public accountant; to consider and approve the dividend payment for the 2023 performance and legal reserve allocation; to consider and approve the appointment of directors to replace the directors who are due to retire by rotation; to consider and approve the directors' remuneration for 2024; to consider and approve the appointment of auditors and the auditor's fee for 2024; and to consider other business (if any).
お知らせ • Feb 23WHA Corporation Public Company Limited Declares Dividend, Payable on May 10, 2024The board of directors of WHA Corporation Public Company Limited at its meeting held on February 23, 2024, Approved to propose the 2024 Annual General Meeting of Shareholders to consider approving the additional dividend payment from the 2023 operating performance at the rate of THB 0.1170 per share, amounting to not more than THB 1,750 million approximately. The Record Date for the shareholders' right to receive the dividend shall be May 10, 2024 and the dividend payment date shall be on May 24, 2024. However, the right to receive the dividend is uncertain as it is subject to the approval from the Annual General Meeting of Shareholders to be held on April 25, 2024.
Upcoming Dividend • Nov 15Upcoming dividend of ฿0.067 per share at 3.3% yieldEligible shareholders must have bought the stock before 22 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (4.3%).
お知らせ • Nov 10Wha Corporation Public Company Limited Announces Dividend for the Operating Period from 01-Jan-2023 to 30-Sep-2023, Payable on 08-Dec-2023WHA Corporation Public Company Limited announced cash dividend of 0.0669 baht per share for the operating period from 01-Jan-2023 to 30-Sep-2023. Ex-dividend date 22-Nov-2023, Record date for the right to receive dividends 23-Nov-2023 and Payment date 08-Dec-2023.
Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: ฿0.042 (vs ฿0.017 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.042 (up from ฿0.017 in 3Q 2022). Revenue: ฿2.12b (up 22% from 3Q 2022). Net income: ฿622.8m (up 141% from 3Q 2022). Profit margin: 29% (up from 15% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 11Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: ฿0.058 (up from ฿0.019 in 2Q 2022). Revenue: ฿2.67b (up 49% from 2Q 2022). Net income: ฿866.1m (up 199% from 2Q 2022). Profit margin: 32% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 04Upcoming dividend of ฿0.10 per share at 3.8% yieldEligible shareholders must have bought the stock before 11 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (6.2%). In line with average of industry peers (4.1%).
Reported Earnings • Feb 27Full year 2022 earnings released: EPS: ฿0.27 (vs ฿0.17 in FY 2021)Full year 2022 results: EPS: ฿0.27 (up from ฿0.17 in FY 2021). Revenue: ฿13.7b (up 28% from FY 2021). Net income: ฿4.05b (up 56% from FY 2021). Profit margin: 30% (up from 24% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Nov 18Upcoming dividend of ฿0.067 per shareEligible shareholders must have bought the stock before 25 November 2022. Payment date: 09 December 2022. Payout ratio is a comfortable 65% and the cash payout ratio is 83%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (3.2%).
Board Change • Nov 16High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Director Ajarin Pattanapanchai was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 13Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: EPS: ฿0.017 (up from ฿0.011 in 3Q 2021). Revenue: ฿1.98b (up 78% from 3Q 2021). Net income: ฿258.6m (up 61% from 3Q 2021). Profit margin: 13% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year.
Reported Earnings • Aug 14Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: ฿0.019 (up from ฿0.017 in 2Q 2021). Revenue: ฿1.79b (up 9.0% from 2Q 2021). Net income: ฿289.6m (up 11% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is forecast to stay flat compared to a 22% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year.
Major Estimate Revision • May 25Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿8.58b to ฿11.0b. EPS estimate unchanged from ฿0.23 at last update. Real Estate industry in Thailand expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at ฿4.08. Share price fell 2.5% to ฿3.10 over the past week.
Reported Earnings • May 16First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.044 (up from ฿0.009 in 1Q 2021). Revenue: ฿1.58b (up 58% from 1Q 2021). Net income: ฿656.1m (up 387% from 1Q 2021). Profit margin: 42% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 76%. Over the next year, revenue is expected to shrink by 1.6% compared to a 18% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.
Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (5.1%). In line with average of industry peers (3.1%).
Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Apr 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Mar 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Kritsana Sukboonyasatit was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Feb 25Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿0.17 (up from ฿0.17 in FY 2020). Revenue: ฿10.4b (up 28% from FY 2020). Net income: ฿2.59b (up 2.6% from FY 2020). Profit margin: 25% (down from 31% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 1.4%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Nov 18Upcoming dividend of ฿0.027 per shareEligible shareholders must have bought the stock before 25 November 2021. Payment date: 09 December 2021. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.3%).
Reported Earnings • Nov 16Third quarter 2021 earnings released: EPS ฿0.011 (vs ฿0.029 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.11b (up 5.2% from 3Q 2020). Net income: ฿160.3m (down 63% from 3Q 2020). Profit margin: 14% (down from 41% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 11Second quarter 2021 earnings released: EPS ฿0.023 (vs ฿0.036 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.18b (up 26% from 2Q 2020). Net income: ฿260.2m (down 52% from 2Q 2020). Profit margin: 12% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.009 (vs ฿0.007 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.04b (up 12% from 1Q 2020). Net income: ฿134.7m (up 36% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year.
Upcoming Dividend • Apr 30Upcoming dividend of ฿0.064 per shareEligible shareholders must have bought the stock before 07 May 2021. Payment date: 25 May 2021. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (4.8%). Lower than average of industry peers (3.8%).
Executive Departure • Apr 29Independent Director has left the companyOn the 26th of April, Somsak Pratomsrimek's tenure as Independent Director ended after 9.0 years in the role. We don't have any record of a personal shareholding under Somsak's name. A total of 2 executives have left over the last 12 months.
Is New 90 Day High Low • Mar 09New 90-day high: ฿3.50The company is up 12% from its price of ฿3.12 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.18 per share.
Analyst Estimate Surprise Post Earnings • Mar 03Revenue and earnings miss expectationsRevenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 51%, compared to a 12% growth forecast for the Real Estate industry in Thailand.
Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.17 (vs ฿0.22 in FY 2019)The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: ฿6.91b (down 44% from FY 2019). Net income: ฿2.52b (down 22% from FY 2019). Profit margin: 37% (up from 26% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Feb 09New 90-day high: ฿3.34The company is up 18% from its price of ฿2.82 on 11 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.05 per share.
Is New 90 Day High Low • Nov 29New 90-day high: ฿3.22The company is up 1.0% from its price of ฿3.20 on 31 August 2020. The Thai market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.97 per share.
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.029The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: ฿1.05b (down 49% from 3Q 2019). Net income: ฿428.6m (down 25% from 3Q 2019). Profit margin: 41% (up from 27% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year.
Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 18% share price gain to ฿2.82, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 14.8x. This compares to an average P/E of 10x in the Real Estate industry in Thailand. Total return to shareholders over the past three years is a loss of 23%.
Is New 90 Day High Low • Oct 16New 90-day low: ฿2.72The company is down 12% from its price of ฿3.10 on 17 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.85 per share.
Is New 90 Day High Low • Sep 22New 90-day low: ฿2.82The company is down 16% from its price of ฿3.34 on 24 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.80 per share.