Washington H Soul Pattinson & Company Ltd (SOL) Fair Value & Analysis
Financial Services · AU · Market cap A$17.5B (≈ $12.6B) · ISIN AU000000SOL3
What is Washington H Soul Pattinson & Company Ltd really worth?
A solid business, but trading 202% above our fair value of A$14.62.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 11 valuation models · updated today
Share price −3.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (A$17.84). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range A$20.24 – A$46.92 · fair‑value band A$10.07 – A$17.84 · the A$44.22 price screens above the A$14.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Washington H Soul Pattinson & Company Ltd (SOL) currently trades at A$44.22, while our model-based Fair Value estimate is A$14.62, implying the stock looks roughly 202.5% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of A$18.15 per share, and 0 of the 11 models we run sit above the A$44.22 price. Bear case: the Growth DCF group reads lowest at A$4.67, and 11 of the 11 models stay below the price. Evidence for this calculation is high.
Revenue grew 176.2% year over year. It earns a return on equity of 20.7%. Net debt stands at A$771M. The stock trades on a trailing P/E of 6.9. Fundamentals as of Sep 5, 2026
Our scenario range runs from A$10.07 (bear case) to A$17.84 (bull case); at A$44.22, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −67%, SOL screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly A$5.35 per share, which is 36.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 11 models by family
Widest divergence: Economic Profit (A$18.15) versus Growth DCF (A$4.67). Highest evidence: Growth DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
WHSP Holdings Limited, an investment company, engages in investing various industries and asset classes in Australia. It operates through six segments: Listed Companies, Private Companies, Emerging Companies Portfolio, Real Assets, Credit Portfolio, and Treasury.
Full company description
WHSP Holdings Limited, an investment company, engages in investing various industries and asset classes in Australia. It operates through six segments: Listed Companies, Private Companies, Emerging Companies Portfolio, Real Assets, Credit Portfolio, and Treasury. The company invests in largely uncorrelated listed companies; managed listed equities; unlisted and growing companies; credit related financial instruments; and property development. It also engages in the manufacturing, distribution, and sale of building products. The company was formerly known as WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED and changed its name to WHSP Holdings Limited in September 2025. WHSP Holdings Limited was founded in 1872 and is headquartered in Sydney, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Washington H Soul Pattinson & Company Ltd reported revenue of A$613M in FY2025 versus A$1.1B in FY2021, a compound −13.0%/yr. Reported net income was A$364M in FY2025, compounding +7.5%/yr from FY2021.
SOL screens 202% overvalued. Compare with Morgan Stanley, a financial holding company, →
Peer Group
Capital Markets · 453 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $214.77 | $138.97 | −35% |
| The Goldman Sachs Group GS | $1,034 | $756.89 | −27% |
| The Charles Schwab Corporation SCHW | $110.16 | $66.17 | −40% |
| Robinhood Markets, Inc HOOD | $104.26 | $30.94 | −70% |
| Macquarie Group MQG | A$251.87 | A$75.58 | −70% |
| CITIC Securities Company 600030 | ¥27.93 | ¥17.68 | −37% |
| Guotai Haitong Securities Co 601211 | ¥17.87 | ¥18.62 | +4% |
| East Money Information Co 300059 | ¥19.42 | ¥4.77 | −75% |
| CSC Financial Co 601066 | ¥25.78 | ¥14.17 | −45% |
| Huatai Securities Co 601688 | ¥19.56 | ¥19.26 | −2% |
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