Securities Analysis WHA Corporation Public Company Limited

Abstract

This research aimed to study 1) the variables that affect the value of securities of WHA Corporation Public Company Limited. 2) forecast operating results financial status and financial ratios of WHA Corporation Public Company Limited and 3) assess the business value of WHA Corporation Public Company Limited. The factors that were studied include inflation, GDP, stock market index. Construction materials index Economic Sentiment Index interest rate and exchange rates that affects the total revenue of WHA Corporation Public Company Limited from 2023 to 2027. By using the Multiple Linear Regression method using the Ordinary Least Squares (OLS) method with the sample group used to study 2 companies, namely Amata Corporation Public Company Limited (AMATA), Rojana Industrial Park Company Limited (Public Company Limited (ROJNA)

The results of the research found that factors affecting the total income of WHA Corporation Public Company Limited include gross domestic product (GDP) and interest rates (interest) 0.05, 0.01 and if the rate of gross domestic product (GDP) increases an increase of 1% will increase income by 1.482% and if the interest rate increases by 1%, income will decrease by 9.1399%. and evaluate the value of the company in 3 ways, consisting of 1. discounted cash flow : DCF method by using the free cash flow of the business (Free Cash Flow to the Firm : FCFF). Valuation of common shares using the residual valuation method and 3. multiple comparable method, found that each method was results in valuing the company different and the results of the company's valuation, method 1. using the discount cash flow method, the value of the company's common shares is equal to 11.01 baht per share. Method 2. valuation of common shares using the residual profit method was equal to 6.04 baht/share and Method 3. Multiple Comparable was equal to 24.89 baht per share. And the method that was appropriate to evaluate the value of the company's common shares was the Discounted cash flow (DCF) method because it was a method that reflects the potential and the ability to conduct business that may change or there will be growth in the future. Therefore, the appropriate value of ordinary shares of WHA Corporation Public Company Limited as in 2024 was in the range of 6.04 - 24.89 baht per share.