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WTHORSE WHITE HORSE BERHAD

5009.KL · Industrial Products & Services · Building Materials
Bottom 36% of scored stocks
Compare with nearby peers
OkayBottom 36% of scored stocks
ShariahWeak SpotRecent Loss

WTHORSE scores 41/100 on fundamentals: in the bottom 36% of 1120 scored Bursa Malaysia stocks. Its strongest area is Financial Safety (67/100); its weakest is Business Strength (0/100). It carries 2 warning flags: Weak Spot, Recent Loss.

Best
Financial 67
Weakest
Business 0
  • Carries a Weak Spot flag
  • Carries a Recent Loss flag
Mkt capRM 106.8m#690 of 1113 in BursaEPSRM -0.04P/En/m (loss-making)✓ vs sector avg 53.8×P/B0.2×✓ vs sector avg 1.5×Div yield0%Bottom 29% in Bursa52w range · 10% of range0.450.80
as of 18 Oct 2026

Nearby peers

Ranks #197 of 317 in Industrial Products & Services by score

#1BETA93#195DESTINI42#196SUM41
#197WTHORSE41
#198ORNA41#199SMISCOR41

One-Minute Summary

Why WTHORSE scores 41

An expensively priced stock with shrinking sales, but business strength needs attention.

What looks good
What to watch

After Jun '26 results: 42 → 42See all movers →

Business StrengthLowest pillar

0
Why 0?
Pillar score: (0 + 0 + 0 + 0 + 0) = 0 of 10 points → 0
Return on Equity (ROE)-1%Weak4-Year Revenue Growth-5%/yrWeak4-Year Profit Growthn/m (loss-making)WeakNet Profit Marginn/m (loss-making)WeakQuarterly Momentumn/m (loss-making)Weak
Show 3 charts

Net Profit & Equity, with ROE

Net Profit ↑ +51.8%Equity ↓ -7.9%ROE % -1.5%
Net ProfitEquityROE %
-17m-11m-7m-8m585m566m549m539m202320242025TTM-2.8%-1.9%-1.3%-1.5%

Revenue & Net Profit, with Net Margin

Revenue ↓ -15.6%Net Profit ↑ +51.8%Net Margin % -2.2%
RevenueNet ProfitNet Margin %
422m439m381m356m-17m-11m-7m-8m202320242025TTM-3.9%-2.5%-1.9%-2.2%

Sales shrank about 15.6% over 4 years: the business is getting smaller, which needs a good explanation.

The company lost money in recent years: the bars below zero are losses, not profits.

Recent Quarters: Revenue & Net Profit (the last 8 quarters, scored)

Revenue ↓ -23.3%Net Profit ↑ +27.8%Net Margin % -3.1%
RevenueNet ProfitNet Margin %
109m120m90m92m98m101m73m84m-4m-3m-9m-1m-2m4m-7m-3mSep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26-3.3%-2.5%-9.6%-0.8%-2.3%4.2%-9.9%-3.1%
▼▼▼▼▼▲▼▼

Sales fell about 23.3% over the last 8 quarters: worth watching why.

The company made a loss in at least one of the last 8 quarters: the bars below zero are losses, not profits.

Why 67?
Pillar score: (2 + 2 + 0) = 4 of 6 points → 67
Debt-to-Equity0.1×StrongCurrent Ratio4×StrongInterest Coverage-0.7×Weak
Show 2 charts

Debt vs Equity, with D/E ratio

Total Debt ↓ -33.4%Equity ↓ -7.9%D/E 0.1×
Total DebtEquityD/E
97m89m68m65m585m566m549m539m202320242025TTM0.2×0.2×0.1×0.1×

Borrowings fell about 33.4% over 4 years: the company is steadily getting safer.

Short-term assets vs bills, with Current Ratio

Current Assets ↓ -10.9%Current Liabilities ↓ -29.6%Current Ratio 4×
Current AssetsCurrent LiabilitiesCurrent Ratio
471m448m424m419m148m134m107m104m202320242025TTM3.2×3.3×4×4×
Why 50?
Pillar score: (0 + 1 + 2 + 1) = 4 of 8 points → 50
Dividend Quality0%Weak
Payout ratio: -0%
Operating Cash FlowPositive but bumpyOkayFree Cash FlowPositive & growingStrongCash & Cash EquivalentsPartly healthyOkay
Show 3 charts

Operating vs Free Cash Flow

Operating CF ↓ -31.9%Free CF ↓ -58.9%
Operating CFFree CF
30m17m30m21m28m13m20m12m202320242025TTM

Cash keeps coming in, though unevenly: fine, but worth keeping an eye on.

Cash vs Total Debt

Cash ↓ -13%Short-Term Debt ↓ -40.7%Total Debt ↓ -33.4%
CashShort-Term DebtTotal Debt
61m44m48m53m80m66m50m47m97m89m68m65m202320242025TTM

Dividends per Share, with Yield

DPS (sen) ↓ -100%Yield % 0%
DPS (sen)Yield %
300020222023202420254.8%0%0%0%

Dividends were cut during this period: payouts here are not guaranteed pocket money.

Why 33?
Pillar score: (0 + 2 + 0) = 2 of 6 points → 33
P/E Ration/m (loss-making)WeakP/B Ratio0.2×StrongPEG Ration/m (growth not measurable)Weak
Show chart

Score vs Share Price

Score (0-100)Share price
RM 0.80RM 0.63RM 0.46100500Oct '25Feb '26Jun '26Oct '26

The share price is down about 39.4% over the past year.

What happened, and how the price moved

Nothing to show for this period. Try a longer range or another filter.

Why 50?
Pillar score: (0 + 2 + 2 + 1 + 1 + 0) = 6 of 12 points → 50
Earnings ConsistencyVery bumpyWeakDebt Trend (4yr)FallingStrongShare Count Trend (4yr)-0%/yrStrongInventory vs Sales (4yr)+1.2 pp/yr vs salesOkayAsset Turnover Trend (4yr)-3.9%OkayQuarterly ConsistencyLoss in 7 of 8 quartersWeak
Show chart

Revenue vs Inventory, with Inventory % of Revenue

Revenue ↓ -15.6%Inventory ↓ -12.3%Inv. % of Rev. 47%
RevenueInventoryInv. % of Rev.
422m439m381m356m191m183m165m167m202320242025TTM45.2%41.6%43.4%47%

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Ranks #197 of 317 in Industrial Products & Services by score

Sector peers

#1BETA93#195DESTINI42#196SUM41
#197WTHORSE (you)41
#198ORNA41#199SMISCOR41

Full Financial History

Every reported figure behind the score, year by year. Download it, or check it against the company's own annual report.

Financial YearRevenueNet ProfitOperating Cash FlowFree Cash FlowCapExCashTotal DebtShort-Term DebtEquityCurrent AssetsCurrent LiabilitiesTotal AssetsTotal LiabilitiesInventoryDividendsReturn on Equity (ROE)Net Profit MarginDebt-to-EquityCurrent RatioInterest CoverageDiv yieldP/E RatioP/B Ratio
2026RM 356.1mRM -8.0mRM 20.5mRM 11.5mRM -9.0mRM 53.0mRM 64.7mRM 47.4mRM 538.7mRM 419.4mRM 104.0mRM 658.3mRM 119.6mRM 167.2m--1%-2%0.1×4.0×-0.7×---
2025RM 380.5mRM -7.3mRM 29.5mRM 20.0mRM -9.5mRM 47.7mRM 68.3mRM 50.0mRM 548.9mRM 424.1mRM 107.2mRM 670.9mRM 122.0mRM 165.1mRM 0.0m-1%-2%0.1×4.0×-0.3×0%-18.7×0.3×
2024RM 438.5mRM -10.9mRM 17.0mRM 12.7mRM -4.3mRM 44.4mRM 89.4mRM 65.5mRM 565.6mRM 447.5mRM 134.2mRM 719.8mRM 154.2mRM 182.5mRM 0.0m-2%-2%0.2×3.3×-0.6×0%-14.7×0.3×
2023RM 421.7mRM -16.6mRM 30.1mRM 28.0mRM -2.0mRM 60.9mRM 97.2mRM 79.9mRM 585.2mRM 470.6mRM 147.7mRM 748.8mRM 163.6mRM 190.7mRM 0.0m-3%-4%0.2×3.2×-2.5×0%-8.4×0.2×