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WHA Industrial Leasehold REIT stock PB Ratio (=0.98) is close to 5-year high of 1.02.
The historical rank and industry rank for WHA Industrial Leasehold REIT's PB Ratio or its related term are showing as below:
BKK:WHAIR'
s PB Ratio Range Over the Past 10 Years
Min: 0.54 Med: 0.83 Max: 1.11
Current: 0.99
During the past 10 years, WHA Industrial Leasehold REIT's highest PB Ratio was 1.11. The lowest was 0.54. And the median was 0.83.
BKK:WHAIR's PB Ratio is ranked worse than 62.28% of 928
companies
in the REITs industry
Industry Median: 0.86
vs BKK:WHAIR: 0.99
During the past 12 months, WHA Industrial Leasehold REIT's average Book Value Per Share Growth Rate was -2.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -2.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -1.60% per year.
During the past 10 years, the highest 3-Year average Book Value Per Share Growth Rate of WHA Industrial Leasehold REIT was 1.80% per year. The lowest was -3.40% per year. And the median was -0.10% per year.
Back to Basics: PB Ratio
WHA Industrial Leasehold REIT (BKK:WHAIR) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
WHA Industrial Leasehold REIT PB Ratio Related Terms
WHA Industrial Leasehold REIT PB Ratio Historical Data
* 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.
For the REIT - Industrial subindustry, WHA Industrial Leasehold REIT'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.
WHA Industrial Leasehold REIT PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, WHA Industrial Leasehold REIT's PB Ratio distribution charts can be found below:
* The bar in red indicates where WHA Industrial Leasehold REIT's PB Ratio falls into.
WHA Industrial Leasehold REIT PB Ratio Calculation
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
WHA Industrial Leasehold REIT (BKK:WHAIR) has a PB Ratio of 0.98 as of Jul. 21, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on WHA Industrial Leasehold REIT and its competitors. This is 18% above median its historical median of 0.83. Over the past decade, WHA Industrial Leasehold REIT's PB Ratio has ranged from 0.54 to 1.11. According to the industry distribution chart, WHA Industrial Leasehold REIT ranks #578 out of 928 companies in the REITs industry, placing it in the top 62.3%.
Is WHA Industrial Leasehold REIT's PB Ratio too high?
WHA Industrial Leasehold REIT's current PB Ratio of 0.98 is 18% above median its 10-year median of 0.83. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 1.11. The REITs industry median PB Ratio is 0.86. WHA Industrial Leasehold REIT's value of 0.98 is 14% above this industry median. Based on the distribution chart, WHA Industrial Leasehold REIT ranks #578 out of 928 companies in the REITs industry, which is below the industry midpoint. Overall, WHA Industrial Leasehold REIT has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WHA Industrial Leasehold REIT's PB Ratio compare to PLD and PSA?
According to the REITs industry distribution chart, WHA Industrial Leasehold REIT ranks #578 out of 928 companies for PB Ratio. This places WHA Industrial Leasehold REIT in the lower half of its industry. The industry median PB Ratio is 0.86. WHA Industrial Leasehold REIT's value of 0.98 is 14% above this benchmark. Historically, WHA Industrial Leasehold REIT's own PB Ratio has ranged from 0.54 to 1.11 over the past decade. While the company's 10-year median is 0.83 vs. the industry median of 0.86, WHA Industrial Leasehold REIT 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.86, based on 928 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WHA Industrial Leasehold REIT's current PB Ratio of 0.98 is 14% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on WHA Industrial Leasehold REIT and its competitors. For the REITs industry, the median PB Ratio is 0.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WHA Industrial Leasehold REIT's current PB Ratio is 0.98, which is 18% above median its own 10-year median of 0.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WHA Industrial Leasehold REIT stock overvalued right now?
Based on GuruFocus' analysis, WHA Industrial Leasehold REIT (BKK:WHAIR) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿6.19, compared to a current price of ฿8.15 — trading 31.7% above its estimated fair value. The current PB Ratio is 0.98, which is 18% above median its 10-year median of 0.83 and 14% above the REITs industry median of 0.86. WHA Industrial Leasehold REIT's overall GF Score™ is 76/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For WHA Industrial Leasehold REIT (BKK:WHAIR), the current PB Ratio is 0.98 as of Jul. 21, 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 Industrial Leasehold REIT (BKK:WHAIR) Overvalued in 2026?
Based on GuruFocus' analysis, WHA Industrial Leasehold REIT stock appears to be overvalued.
The current stock price of ฿8.15 is trading 31.7% above its estimated GF Value™ of ฿6.19.
GuruFocus considers WHA Industrial Leasehold REIT to be Significantly Overvalued.
Key valuation signals for BKK:WHAIR:
PB Ratio: 0.98 (18% above median its 10-year median of 0.83)
GF Value™: ฿6.19 vs. price of ฿8.15 (31.7% above fair value)
Industry Position: 14% above the REITs median (#578 of 928)
No single metric tells the full story. See the BKK:WHAIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WHA Industrial Leasehold REIT Business Description
WHA Industrial Leasehold REIT is a Thailand-based REIT. The company invests in leasehold lands mainly in Thailand for the purpose of building warehouses and factories. It serves tenants and entrepreneurs from various industries. The Trust's revenue derives from rental income from ordinary business activities and also includes relevant service income.
76GF Score
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