White Horse Bhd (XKLS:5009) Book Value per Share: RM2.46 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XKLS:5009 White Horse Bhd XKLS:5009
29 GF Score
Price RM0.47
GF Value RM0.59
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is White Horse Bhd Book Value per Share?

White Horse Bhd XKLS:5009 -1.06% 29 Book Value per Share is RM2.46 as of Mar. 2026. GuruFocus rates XKLS:5009 with a GF Score™ of 29/100 and a GF Value™ of RM0.59 (Modestly Undervalued). The stock has 2 warning signs investors should review.

White Horse Bhd's book value per share for the quarter that ended in Mar. 2026 was RM2.46.

During the past 12 months, White Horse Bhd's average Book Value Per Share Growth Rate was -2.80% per year. During the past 3 years, the average Book Value Per Share Growth Rate was -2.80% per year. During the past 5 years, the average Book Value Per Share Growth Rate was -1.10% per year. During the past 10 years, the average Book Value Per Share Growth Rate was -2.90% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the book value growth rate using book value per share data.

During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of White Horse Bhd was 8.10% per year. The lowest was -6.00% per year. And the median was 0.90% per year.

White Horse Bhd's current price is RM0.465. Its book value per share for the quarter that ended in Mar. 2026 was RM2.46. Hence, today's PB Ratio of White Horse Bhd is 0.19.

During the past 13 years, the highest P/B Ratio of White Horse Bhd was 0.64. The lowest was 0.19. And the median was 0.28.

Good Sign:

White Horse Bhd stock PB Ratio (=0.19) is close to 10-year low of 0.19.


White Horse Bhd  (XKLS:5009) Book Value per Share Explanation

Usually a company's book value and Tangible Book per Share may not reflect its true value. The assets may be carried on the balance sheets at the original cost minus depreciation. This may underestimate the true economic values of the assets. It also may over-estimate their true economic value because the assets can become obsolete.

For financial companies such as banks and insurance companies, their assets may be reported in current market value of the assets owned. Book values of financial companies are more accurate indicator of the economic value of the company.


White Horse Bhd Book Value per Share Related Terms


White Horse Bhd Book Value per Share Historical Data

* Premium members only.

The historical data trend for White Horse Bhd's Book Value per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

White Horse Bhd Book Value per Share Chart

White Horse Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Book Value per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.72 2.71 2.65 2.57 2.49

White Horse Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Book Value per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.53 2.52 2.51 2.49 2.46

XKLS:5009 vs CRH, VMC, MLM: Book Value per Share Comparison

For the Building Materials subindustry, White Horse Bhd's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


White Horse Bhd PB Ratio vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, White Horse Bhd's PB Ratio distribution charts can be found below:

* The bar in red indicates where White Horse Bhd's PB Ratio falls into.


XKLS:5009
29GF Score
White Horse Bhd XKLS:5009
Book Value per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

White Horse Bhd Book Value per Share Calculation

White Horse Bhd's Book Value Per Share for the fiscal year that ended in Dec. 2025 is calculated as:

Book Value Per Share=(Total Stockholders Equity-Preferred Stock)/Shares Outstanding (EOP)
=(548.9-0.0)/220.5
=2.49

White Horse Bhd's Book Value Per Share for the quarter that ended in Mar. 2026 is calculated as:

Book Value Per Share=(Total Stockholders Equity-Preferred Stock)/Shares Outstanding (EOP)
=(541.5-0.0)/220.5
=2.46

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Theoretically it is what the shareholders will receive if the company is liquidated. Total Stockholders Equity is a balance sheet item and equal to Total Assets less Total Liabilities of the company.

Book value may include intangible items which may come from the company's past acquisitions. Book value less intangibles is called Tangible Book.

Frequently Asked Questions Learn more about Book Value per Share →
What does a Book Value per Share of RM2.46 mean?
White Horse Bhd (XKLS:5009) has a Book Value per Share of RM2.46 as of Mar. 2026. Book value per share gives the per-share value of a company's stockholder equity. View historical data on White Horse Bhd and its competitors.
Is White Horse Bhd's Book Value per Share too high?
White Horse Bhd's current Book Value per Share is RM2.46. Overall, White Horse Bhd has a GF Score™ of 29/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does White Horse Bhd's Book Value per Share compare to CRH and VMC?
White Horse Bhd's Book Value per Share of RM2.46 can be compared against companies in the Building Materials industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Book Value per Share for a Building Materials company?
A good Book Value per Share depends on the Building Materials industry context. However, Book Value per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Book Value per Share mean?
A high Book Value per Share can signal that a stock is expensive relative to its fundamentals. Book value per share gives the per-share value of a company's stockholder equity. View historical data on White Horse Bhd and its competitors. White Horse Bhd's current Book Value per Share is RM2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is White Horse Bhd stock overvalued right now?
Based on GuruFocus' analysis, White Horse Bhd (XKLS:5009) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.59, compared to a current price of RM0.47 — trading 21.2% below its estimated fair value. The current Book Value per Share is RM2.46. White Horse Bhd's overall GF Score™ is 29/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Book Value per Share calculated?
Book Value per Share is calculated from a company's financial statements. For White Horse Bhd (XKLS:5009), the current Book Value per Share is RM2.46 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is White Horse Bhd (XKLS:5009) Overvalued in 2026?

Based on GuruFocus' analysis, White Horse Bhd stock appears to be undervalued. The current stock price of RM0.47 is trading 21.2% below its estimated GF Value™ of RM0.59. GuruFocus considers White Horse Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:5009:

  • Book Value per Share: RM2.46
  • GF Value™: RM0.59 vs. price of RM0.47 (21.2% below fair value)
  • GF Score™: 29/100 with 2 warning signs

No single metric tells the full story. See the XKLS:5009 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


White Horse Bhd Business Description

Address Pasir Gudang Industrial Estate, PLO 464, Jalan Gangsa, Pasir Gudang, JHR, MYS, 81700
White Horse Bhd. is an investment holding company, which is engaged in the manufacturing of ceramic wall, floor tiles and the provision of management services. Its segments include Malaysia, Vietnam, and Others. The Malaysia segment includes the manufacturing and distribution of ceramic homogenous tiles in Malaysia. The Vietnam segment includes the manufacturing and distribution of ceramic homogenous tiles in Vietnam. The other segments include the distribution of ceramic homogenous tiles in Indonesia, the Philippine, Singapore, and Thailand, and China. The product portfolio of the group consists of ceramic wall tiles, ceramic floor tiles and porcelain tiles. It generates the majority of revenue from the Malaysian segment.
29GF Score

Get the complete analysis for XKLS:5009

Book Value per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM0.47
Price
RM0.59
GF Value