WHA PCL (BKK:WHA) Cyclically Adjusted PS Ratio: (As of Sep. 22, 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.
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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.

BKK:WHA WHA Corp PCL BKK:WHA
88 GF Score
Price ฿4.74
GF Value ฿4.68
Valuation Fairly Valued
! 8 Warning Signs
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What is WHA PCL Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


WHA PCL  (BKK:WHA) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


WHA PCL Cyclically Adjusted PS Ratio Related Terms


WHA PCL Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for WHA PCL's Cyclically Adjusted PS Ratio 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.

WHA PCL Cyclically Adjusted PS Ratio Chart

WHA PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.68 4.74 5.89 5.85 3.48

WHA PCL Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio 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 3.19 3.56 3.46 4.31 5.21

BKK:WHA vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, WHA PCL's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


WHA PCL Cyclically Adjusted PS Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, WHA PCL's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where WHA PCL's Cyclically Adjusted PS Ratio falls into.


BKK:WHA
88GF Score
WHA Corp PCL BKK:WHA
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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WHA PCL Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

WHA PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, WHA PCL's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.167/333.9520*333.9520
=0.167

Current CPI (Jun. 2026) = 333.9520.

WHA PCL Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.091 241.428 0.126
201612 0.977 241.432 1.351
201703 0.068 243.801 0.093
201706 0.179 244.955 0.244
201709 0.087 246.819 0.118
201712 0.330 246.524 0.447
201803 0.182 249.554 0.244
201806 0.111 251.989 0.147
201809 0.070 252.439 0.093
201812 0.218 251.233 0.290
201903 0.231 254.202 0.303
201906 0.138 256.143 0.180
201909 0.112 256.759 0.146
201912 0.231 256.974 0.300
202003 0.072 258.115 0.093
202006 0.083 257.797 0.108
202009 0.063 260.280 0.081
202012 0.244 260.474 0.313
202103 0.070 264.877 0.088
202106 0.100 271.696 0.123
202109 0.074 274.310 0.090
202112 0.453 278.802 0.543
202203 0.105 287.504 0.122
202206 0.121 296.311 0.136
202209 0.132 296.808 0.149
202212 0.560 296.797 0.630
202303 0.138 301.836 0.153
202306 0.179 305.109 0.196
202309 0.142 307.789 0.154
202312 0.537 306.746 0.585
202403 0.219 312.332 0.234
202406 0.155 314.175 0.165
202409 0.137 315.301 0.145
202412 0.246 315.605 0.260
202503 0.315 319.799 0.329
202506 0.223 322.561 0.231
202509 0.129 324.800 0.133
202512 0.354 324.054 0.365
202603 0.212 330.213 0.214
202606 0.167 333.952 0.167

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is WHA PCL (BKK:WHA) Overvalued in 2026?

Based on GuruFocus' analysis, WHA PCL stock appears to be overvalued. The current stock price of ฿4.74 is trading 1.3% above its estimated GF Value™ of ฿4.68. GuruFocus considers WHA PCL to be Fairly Valued.

Key valuation signals for BKK:WHA:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ฿4.68 vs. price of ฿4.74 (1.3% above fair value)
  • GF Score™: 88/100 with 8 warning signs

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


WHA PCL Business Description

Other Exchanges WHA-F:Thailand
Address Moo 13, Debaratna Road (Bangna-Trad) KM.7, 777 WHA TOWER, 23rd - 25th Floor, Bang Kaeo, Bang Phli, Samut Prakarn, THA, 10540
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.
88GF Score

Get the complete analysis for BKK:WHA

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿4.74
Price
฿4.68
GF Value