WHA PCLBKK:WHA-R 82 Return-on-Tangible-Equity is 37.81% as of Mar. 2026, which is 5% below its 10-year median of 39.96. GuruFocus rates BKK:WHA-R with a GF Score™ of 82/100 and a GF Value™ of ฿3.87. The stock has 10 warning signs investors should review. Among 1,715 Real Estate companies, WHA PCL ranks better than 93.64% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. WHA PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿6,033 Mil. WHA PCL's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ฿15,958 Mil. Therefore, WHA PCL's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 37.81%.
The historical rank and industry rank for WHA PCL's Return-on-Tangible-Equity or its related term are showing as below:
BKK:WHA-R'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 30.59 Med: 39.96 Max: 198.83
Current: 30.59
During the past 13 years, WHA PCL's highest Return-on-Tangible-Equity was 198.83%. The lowest was 30.59%. And the median was 39.96%.
BKK:WHA-R's Return-on-Tangible-Equity is ranked better than 93.64% of 1715
companies
in the Real Estate industry
Industry Median: 4.2
vs BKK:WHA-R: 30.59
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
WHA PCL Return-on-Tangible-Equity Related Terms
WHA PCL Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for WHA PCL's Return-on-Tangible-Equity 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: Return-on-Tangible-Equity Comparison
For the Real Estate Services subindustry, WHA PCL's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Real Estate Industry
For the Real Estate industry and Real Estate sector, WHA PCL's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where WHA PCL's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 37.81% mean?
WHA PCL (BKK:WHA-R) has a Return-on-Tangible-Equity of 37.81% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on WHA PCL and its competitors. This is near median its historical median of 39.96. Over the past decade, WHA PCL's Return-on-Tangible-Equity has ranged from 30.59 to 198.83. According to the industry distribution chart, WHA PCL ranks #109 out of 1715 companies in the Real Estate industry, placing it in the top 6.4%.
Is WHA PCL's Return-on-Tangible-Equity too high?
WHA PCL's current Return-on-Tangible-Equity of 37.81% is near median its 10-year median of 39.96. Over the past 10 years, this metric has ranged from a low of 30.59 to a high of 198.83. The Real Estate industry median Return-on-Tangible-Equity is 4.20. WHA PCL's value of 37.81% is 800.2% above this industry median. Based on the distribution chart, WHA PCL ranks #109 out of 1715 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, WHA PCL has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does WHA PCL's Return-on-Tangible-Equity compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, WHA PCL ranks #109 out of 1715 companies for Return-on-Tangible-Equity. This places WHA PCL in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 4.20. WHA PCL's value of 37.81% is 800.2% above this benchmark. Historically, WHA PCL's own Return-on-Tangible-Equity has ranged from 30.59 to 198.83 over the past decade. While the company's 10-year median is 39.96 vs. the industry median of 4.20, 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 Return-on-Tangible-Equity for a Real Estate company?
The median Return-on-Tangible-Equity among Real Estate companies is 4.20, based on 1,715 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WHA PCL's current Return-on-Tangible-Equity of 37.81% is 800.2% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on WHA PCL and its competitors. For the Real Estate industry, the median Return-on-Tangible-Equity is 4.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WHA PCL's current Return-on-Tangible-Equity is 37.81%, which is near median its own 10-year median of 39.96. 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?
WHA PCL (BKK:WHA-R) has a current Return-on-Tangible-Equity of 37.81%. The stock's GF Value™ is ฿3.87, compared to a current price of ฿4.19 — trading 8.2% above its estimated fair value. The current Return-on-Tangible-Equity is 37.81%, which is near median its 10-year median of 39.96 and 800.2% above the Real Estate industry median of 4.20. WHA PCL's overall GF Score™ is 82/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For WHA PCL (BKK:WHA-R), the current Return-on-Tangible-Equity is 37.81% 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 WHA PCL (BKK:WHA-R) Overvalued in 2026?
Based on GuruFocus' analysis, WHA PCL stock appears to be overvalued.
The current stock price of ฿4.19 is trading 8.2% above its estimated GF Value™ of ฿3.87.
Key valuation signals for BKK:WHA-R:
Return-on-Tangible-Equity: 37.81% (near median its 10-year median of 39.96)
GF Value™: ฿3.87 vs. price of ฿4.19 (8.2% above fair value)
Industry Position: 800.2% above the Real Estate median (#109 of 1715)
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.
82GF Score
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