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Wha Utilities and Power

SET:WHAUP · TH7846010Z09
Water UtilitiesSmall

360

28
EV / EBIT9
Price / Owner Earnings3
Owner Earnings Yield36
Dividend Yield83
Price/Sales8
EV / Gross Profit12
Price/Book34
Return on Capital38
Cash Return on Capital37
Return on Equity47
EBIT Margin91
Gross Profitability30
Cash Conversion42
Accruals44
Owner Earnings Margin49
Sales growth76
Profit Growth9
Long-Term EPS Growth65
Reinvestment77
Price momentum95
Debt load36
Refinancing37
Debt Payback7
Liquidity51
Analyst ratings100
Opinion Changes50
Price Target Upside22
Market mood31
Value Creation14/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Wha Utilities and Power generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryThailand
IndustryWater Utilities
SizeSmall
TypePublic Company
ExchangeSET
Founded2016
Employees29
Websitewha-up.com/en/home
ISINTH7846010Z09
Last UpdateApr 2, 2026
Indices
SET (Thailand)
Themes
Clean EnergyCleanTechEnvironmental EngineeringUtility Scale SolarWater PurificationSmart Water Networks (SWN)EnergyEnergy ManagementIndustrial

Description

WHA Utilities and Power Public Company Limited engages in the production, distribution, and sale of water and power. Business Segments The company operates through water supply services, power generation, wastewater treatment and industrial utility…

Analysis

Hope premium

WHA Utilities and Power Public Company Limited carries what we call a hope premium: an average business trading at an ambitious price.

The price is expensive. You pay 173.3× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone.

The trajectory is solid and the balance sheet is stretched. The company scores 14/20 on our value-creation score: strong value creator.

What to watch: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
63
2026

All-time high

77

Mar 2026

All-time low

63

Jun 2026

Average rank

70

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
8
—
—
—
Price/Earnings
37
—
—
—
Price/Book
34
—
—
—
Dividend Yield
83
—
—
—
Value (overall)
35
—
—
—

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →