Power Assets (0006) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Power Assets stock HK$33.71, price HK$65.70, that is 48.7% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range HK$28.82 – HK$65.70 · fair‑value band HK$28.93 – HK$38.41 · the HK$65.70 price screens above the HK$33.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.
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It generates energy from thermal, renewable energy, and waste sources. The company also develops green energy; distributes oil and gas; and provides trust administration and management services.
Power Assets Holdings Limited was formerly known as Hongkong Electric Holdings Limited and changed its name to Power Assets Holdings Limited in February 2011. The company was founded in 1889 and is based in Central, Hong Kong.
Stock analysis
Power Assets (0006) currently trades at HK$65.70, while our model-based Fair Value estimate is HK$33.71, 49% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$40.10 per share, and 0 of the 23 models we run sit above the HK$65.70 price.
Bear case: the DCF Models group reads lowest at HK$5.57, and 23 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: HK$28.93 (bear) to HK$38.41 (bull), the price of HK$65.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Utilities sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Power Assets reported revenue of HK$771M in FY2025 versus HK$1.3B in FY2021, a compound −11.8%/yr. Reported net income was HK$6.2B in FY2025, compounding +0.4%/yr from FY2021.
Key figures
Market cap HK$140B (≈ $17.9B) Large · P/E ratio 7.2 · P/S ratio 58.4 · Dividend yield 4.3% · Return on equity 18.6% · Return on assets (EBIT) 2.2% (5-year average) · Operating margin 55.4% · Revenue (TTM) HK$717M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −23% fair-value upside, at −49%, 0006 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.5300 to HK$53.81). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
BearHK$28.93Fair Value HK$33.71BullHK$38.41
Price HK$65.70 · Downside -48.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.3%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.3% vs −2.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.93% → 62%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 8.1%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+47.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +44.6% a year for the price and −4.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (5 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Utilities - Independent Power Producers · 77 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−48.7% · Below median
Profitability
Return on equity (12 months)18.6% · Top 25%
Return on assets6.3% · Top 25%
Operating margin (12 months)55.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−15.3% · Bottom 25%
Dividend yield (12 months)4.3% · Above median
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Power Assets Fair Value". https://www.fairvalue-calculator.com/stock/0006
Frequently asked questions
Is Power Assets (0006) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of HK$33.71 versus a price of HK$65.70, about 49% lower (overvalued).
What is the fair value of 0006?
Our model-based fair value for Power Assets is HK$33.71 (as of Nov 9, 2026), built from audited fundamentals. The current price: HK$65.70.
What is the quality score of 0006?
Power Assets has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Power Assets (0006)?
Our model-based price target is the fair value of HK$33.71 (as of Nov 9, 2026) from 23 valuation models. Cautious scenario HK$28.93, optimistic scenario HK$38.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Power Assets stock forecast for 2026?
Our models put fair value at HK$33.71, about 49% lower versus a price of HK$65.70 (overvalued). Cautious scenario HK$28.93, optimistic scenario HK$38.41. The calculation is refreshed regularly with new filings.
What is the revenue of Power Assets (0006)?
Power Assets reported trailing-twelve-month revenue of about HK$717M (latest available figure, as of Nov 9, 2026).
Does Power Assets pay a dividend?
Power Assets currently shows a dividend yield of 4.29% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Power Assets (0006) and when is the ex-dividend date?
Power Assets pays a dividend of HK$2.82 per share a year, a dividend yield of 4.3%. The last ex-dividend date was Sep 9, 2026. A dividend has been paid every year since at least 1990. The payout ratio is 96.4% of earnings. Free cash flow covers the dividend 0.15 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Power Assets (0006)?
For today's price to be fair in a discounted-cash-flow model, Power Assets would have to grow free cash flow by +47.7 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.5 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 0006 use?
Our models discount Power Assets at 8.8 %: a base by market capitalisation (large), damped by beta 0.61, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Power Assets that is +47.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Power Assets (0006) delivered so far?
Over the past 5 years revenue at Power Assets grew -9.5 % a year. The price currently implies free-cash-flow growth of +47.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Power Assets (0006) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Power Assets (+47.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Power Assets (0006)?
The free-cash-flow yield on the price is 0.63 %: that much free cash flow Power Assets produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Power Assets (0006)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Power Assets it is HK$33.71 per share (as of Nov 9, 2026), against a price of HK$65.70. It is the blended result of 23 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Power Assets stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 0006 trades above its calculated fair value: price HK$65.70, fair value HK$33.71, a gap of about −49% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0006?
No. The price is what the market pays today (HK$65.70); the fair value is what the company's own numbers justify (HK$33.71). For Power Assets the two are HK$31.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Power Assets worth?
The market values Power Assets at about HK$140B (market capitalisation, as of Nov 9, 2026). Per share that is HK$65.70; our models calculate a fair value of HK$33.71 per share.
What do the bullish and bearish scenarios say about 0006?
Our models span a range for Power Assets: cautious scenario HK$28.93, base HK$33.71, optimistic HK$38.41 per share (as of Nov 9, 2026, price HK$65.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0006?
Power Assets trades at a price-to-earnings ratio of 7.2 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$33.71 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 16.9. Other multiples: PEG 46.6, P/B 1.5.
What is the PEG ratio of 0006?
The PEG ratio of Power Assets is 46.61 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Power Assets (0006)?
Balance-sheet figures for Power Assets (as of Nov 9, 2026): return on equity 18.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 0006 from its 52-week high?
Power Assets trades at HK$65.70, at its 52-week high of HK$65.70 and 34% above the low of HK$49.12 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of HK$33.71 is for.
Which stocks are comparable to Power Assets?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Power Assets stock attractive at the current price?
The data as of Nov 9, 2026: price HK$65.70, calculated fair value HK$33.71 (−49%), Quality Score 65/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0006 calculated?
We run Power Assets through 23 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$33.71 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Power Assets itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Power Assets (0006)?
The closing price on Nov 9, 2026 was HK$65.70. Our model-based fair value is HK$33.71, about 49% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Power Assets right now?
The price sits above even our optimistic bull case (HK$38.41). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Power Assets (0006) come from?
Earnings per share at Power Assets grew −14.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −5.0 %, EBIT margin +17.9 %, tax rate −0.4 %, residual (interest, one-offs) −23.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Power Assets
How large is the market capitalisation of Power Assets (0006)?
The market capitalisation of Power Assets is HK$140B (≈ $17.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Power Assets (0006)?
The price-to-sales ratio of Power Assets is 58.4 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Power Assets (0006)?
The dividend yield of Power Assets is 4.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the return on equity of Power Assets (0006)?
The return on equity (ROE) of Power Assets is 18.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Power Assets (0006)?
On an EBIT basis the return on assets of Power Assets is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Power Assets (0006)?
The operating margin of Power Assets is 55.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Power Assets (0006)?
Revenue at Power Assets is growing −15.3% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Power Assets (0006)?
Earnings per share at Power Assets are growing +383% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Power Assets (0006) carry?
The net debt of Power Assets is HK$789M (fiscal year 2025, ≈ 0.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 9, 2026