WHA PCL (BKK:WHA-R) Scaled Net Operating Assets: 0.87 (As of Mar. 2026)


BKK:WHA-R WHA Corp PCL BKK:WHA-R
82 GF Score
Price ฿4.19
GF Value ฿3.87
! 10 Warning Signs
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What is WHA PCL Scaled Net Operating Assets?

WHA PCL BKK:WHA-R 82 Scaled Net Operating Assets is 0.87 as of Mar. 2026. 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.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

WHA PCL's operating assets for the quarter that ended in Mar. 2026 was ฿100,628 Mil. WHA PCL's operating liabilities for the quarter that ended in Mar. 2026 was ฿12,305 Mil. WHA PCL's Total Assets for the quarter that ended in Dec. 2025 was ฿101,404 Mil. Therefore, WHA PCL's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.87.


WHA PCL Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for WHA PCL's Scaled Net Operating Assets 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 Scaled Net Operating Assets Chart

WHA PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.84 0.83 0.84 0.88 0.86

WHA PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.80 0.80 0.83 0.86 0.87

BKK:WHA-R vs CBRE, BEKE: Scaled Net Operating Assets Comparison

For the Real Estate Services subindustry, WHA PCL's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Real Estate Industry

For the Real Estate industry and Real Estate sector, WHA PCL's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where WHA PCL's Scaled Net Operating Assets falls into.


BKK:WHA-R
82GF Score
WHA Corp PCL BKK:WHA-R
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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WHA PCL Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

WHA PCL's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(97801.021-10998.641)/101541.137
=0.85

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=101403.626 - 3602.605
=97801.021

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=60804.191 - 35562.601 - 14242.949
=10998.641

WHA PCL's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(100628.099-12304.681)/101403.626
=0.87

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=104133.744 - 3505.645
=100628.099

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=61926.358 - 35036.129 - 14585.548
=12304.681

* 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 Scaled Net Operating Assets of 0.87 mean?
WHA PCL (BKK:WHA-R) has a Scaled Net Operating Assets of 0.87 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on WHA PCL and its competitors.
Is WHA PCL's Scaled Net Operating Assets too high?
WHA PCL's current Scaled Net Operating Assets is 0.87. 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 Scaled Net Operating Assets compare to CBRE and BEKE?
WHA PCL's Scaled Net Operating Assets of 0.87 can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Real Estate company?
A good Scaled Net Operating Assets depends on the Real Estate industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on WHA PCL and its competitors. WHA PCL's current Scaled Net Operating Assets is 0.87. 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 Scaled Net Operating Assets of 0.87. 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 Scaled Net Operating Assets is 0.87. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For WHA PCL (BKK:WHA-R), the current Scaled Net Operating Assets is 0.87 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:

  • Scaled Net Operating Assets: 0.87
  • GF Value™: ฿3.87 vs. price of ฿4.19 (8.2% above fair value)
  • GF Score™: 82/100 with 10 warning signs

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 PCL Business Description

Other Exchanges WHA: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.
82GF Score

Get the complete analysis for BKK:WHA-R

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿4.19
Price
฿3.87
GF Value