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.
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.
WHA PCLBKK:WHA-R +2.16%81 Capex-to-Operating-Income is 1.10 as of Jun. 2026, which is 182% above its 10-year median of 0.39. GuruFocus rates BKK:WHA-R with a GF Score™ of 81/100 and a GF Value™ of ฿3.67 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 774 Real Estate companies, WHA PCL ranks worse than 83.72% on this metric.
Capex-to-Operating-Income measures a company's investments in physical assets such as property, industrial buildings or equipment to its operating income.
Capex-to-Operating-Income assesses how much emphasis a company is placing upon investing in capital-intensive projects. The ratio is generally a good gauge to quantify how much focus on growth a company has. Typically, smaller companies that are still growing and expanding will have a higher Capex to Operating Income Ratio, since such businesses are likely investing more in physical assets. Lower ratios could indicate that a company has reached maturity and it is no longer pursuing aggressive growth.
WHA PCL Capex-to-Operating-Income Related Terms
WHA PCL Capex-to-Operating-Income Historical Data
* Premium members only.
The historical data trend for WHA PCL's Capex-to-Operating-Income 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.
BKK:WHA-R vs CBRE, BEKE, JLL: Capex-to-Operating-Income Comparison
For the Real Estate Services subindustry, WHA PCL's Capex-to-Operating-Income, along with its competitors' market caps and Capex-to-Operating-Income 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.
WHA PCL Capex-to-Operating-Income vs Real Estate Industry
For the Real Estate industry and Real Estate sector, WHA PCL's Capex-to-Operating-Income distribution charts can be found below:
* The bar in red indicates where WHA PCL's Capex-to-Operating-Income falls into.
* 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.
What does a Capex-to-Operating-Income of 1.10 mean?
WHA PCL (BKK:WHA-R) has a Capex-to-Operating-Income of 1.10 as of Jun. 2026. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on WHA PCL and its competitors. This is 182% above median its historical median of 0.39. Over the past decade, WHA PCL's Capex-to-Operating-Income has ranged from 0.06 to 0.84. According to the industry distribution chart, WHA PCL ranks #648 out of 774 companies in the Real Estate industry, placing it in the top 83.7%.
Is WHA PCL's Capex-to-Operating-Income too high?
WHA PCL's current Capex-to-Operating-Income of 1.10 is 182% above median its 10-year median of 0.39. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 0.84. The Real Estate industry median Capex-to-Operating-Income is 0.09. WHA PCL's value of 1.10 is 1122.2% above this industry median. Based on the distribution chart, WHA PCL ranks #648 out of 774 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, WHA PCL has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WHA PCL's Capex-to-Operating-Income compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, WHA PCL ranks #648 out of 774 companies for Capex-to-Operating-Income. This places WHA PCL in the lower half of its industry. The industry median Capex-to-Operating-Income is 0.09. WHA PCL's value of 1.10 is 1122.2% above this benchmark. Historically, WHA PCL's own Capex-to-Operating-Income has ranged from 0.06 to 0.84 over the past decade. While the company's 10-year median is 0.39 vs. the industry median of 0.09, WHA PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Income for a Real Estate company?
The median Capex-to-Operating-Income among Real Estate companies is 0.09, based on 774 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Income significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WHA PCL's current Capex-to-Operating-Income of 1.10 is 1122.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Income mean?
A high Capex-to-Operating-Income can signal that a stock is expensive relative to its fundamentals. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on WHA PCL and its competitors. For the Real Estate industry, the median Capex-to-Operating-Income is 0.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WHA PCL's current Capex-to-Operating-Income is 1.10, which is 182% above median its own 10-year median of 0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WHA PCL stock overvalued right now?
Based on GuruFocus' analysis, WHA PCL (BKK:WHA-R) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿3.67, compared to a current price of ฿4.96 — trading 35.1% above its estimated fair value. The current Capex-to-Operating-Income is 1.10, which is 182% above median its 10-year median of 0.39 and 1122.2% above the Real Estate industry median of 0.09. WHA PCL's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Income calculated?
Capex-to-Operating-Income is calculated from a company's financial statements. For WHA PCL (BKK:WHA-R), the current Capex-to-Operating-Income is 1.10 as of Jun. 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 WHA PCL (BKK:WHA-R) Overvalued in 2026?
Based on GuruFocus' analysis, WHA PCL stock appears to be overvalued.
The current stock price of ฿4.96 is trading 35.1% above its estimated GF Value™ of ฿3.67.
GuruFocus considers WHA PCL to be Significantly Overvalued.
Key valuation signals for BKK:WHA-R:
Capex-to-Operating-Income: 1.10 (182% above median its 10-year median of 0.39)
GF Value™: ฿3.67 vs. price of ฿4.96 (35.1% above fair value)
Industry Position: 1122.2% above the Real Estate median (#648 of 774)
No single metric tells the full story. See the BKK:WHA-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WHA Corp PCL is engaged in providing rent and sale of lands, buildings, factories, warehouses, and other properties; developing and managing properties in industrial estates and industrial zones; providing public utilities, facilities, and other related services; and providing digital services, data center, Internet connection, and other IT services. The company operates in four segments domestically: Real Estate, Power, Water, and Others; and three segments internationally: Real Estate, Water, and Others. It generates the majority of its revenue from the Real Estate segment in the form of leases & services, and sales. Geographically, it operates in the domestic market and the overseas market.
81GF Score
Get the complete analysis for BKK:WHA-R
Capex-to-Operating-Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:WHA-R has been successfully added to your 
