Henan Shenhuo Coal & Power Co Ltd (000933) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Henan Shenhuo Coal & Power Co Ltd stock ¥32.01, price ¥25.26, upside +26.7%, quality 77 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ¥6.59 – ¥37.02 · fair‑value band ¥22.71 – ¥41.61 · the ¥25.26 price screens below the ¥32.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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Henan Shenhuo Coal Industry and Electricity Power Co. Ltd, together with its subsidiaries, produces, process, and sells electrolytic aluminum, aluminum alloys, aluminum profiles, and related products in China.
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It operates in six segments: Electrolytic Aluminum, Coal, Trading, Power Generation, Aluminum, and Headquarters and Others.
The company engages in the production of aluminum ingots, liquid aluminum, and carbon products, as well as non-ferrous metal composite materials, such as aluminum foil and aluminum alloy materials; and transportation business.
It is also involved in the mining, washing, processing, production, and selling of coal products; trading of raw and auxiliary materials, including alumina, aluminum ingots, primary aluminum, coal, and coal-derived products; thermal power generation; and sales of electricity and heat products.
In addition, the company processes scrap aluminum; and imports and exports goods and technologies. Further, it engages in mining, equity, and coal investment; investment management; coal bed methane power generation; electrolytic aluminum smelting; management; and mineral sales activities.
The company was formerly known as Henan Shenhuo Coal & Power Co.,Ltd and changed its name to Henan Shenhuo Coal Industry and Electricity Power Co. Ltd in February 2024. Henan Shenhuo Coal Industry and Electricity Power Co. Ltd was founded in 1998 is headquartered in Yongcheng, China.
Stock analysis
Henan Shenhuo Coal & Power Co Ltd (000933) currently trades at ¥25.26, while our model-based Fair Value estimate is ¥32.01, implying the stock looks roughly 21% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥53.48 per share, and 18 of the 26 models we run sit above the ¥25.26 price.
Bear case: the Asset-Based group reads lowest at ¥5.74, and 8 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥22.71 (bear) to ¥41.61 (bull), the price of ¥25.26 sits inside 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 77/100 (high quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Henan Shenhuo Coal & Power Co Ltd reported revenue of 41.1B CNY in FY2025 versus 34.5B CNY in FY2021, a compound +4.5%/yr. Reported net income was 4.0B CNY in FY2025, compounding +5.5%/yr from FY2021.
Key figures
Market cap 55.9B CNY (≈ $8.4B) Mid · P/E ratio 7.0 · P/S ratio 1.16 · EPS (TTM) ¥3.62 · Dividend yield 3.2% · Net margin 16.7% · Return on equity 30.4% · Return on assets (EBIT) 14.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 79 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 3% fair-value upside, at 27%, 000933 screens cheaper than that median.
Fair Value models
Bear¥22.71Fair Value ¥32.01Bull¥41.61
Price ¥25.26 · Upside +26.7%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥2.40 per share) are deliberately not added.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.9%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
Revenue growth 29 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.4%
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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.
+23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.7%
Dividend (yield on the price)3.2%
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.base effect: 20.7% / 26.0%
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.3% → 18%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−9.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+3.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −10.5% a year for the price and +1.9% for the forecasts.
AI conclusion: Henan Shenhuo benefits from vertical integration of coal mining, power generation and aluminum smelting yet shows thin evidence of a durable moat due to heavy commodity exposure.
Main risk: Swings in energy and metal prices would hit the aluminum smelting operations and their contribution to overall earnings.
Henan Shenhuo combines coal mining and power with aluminum smelting. Its nine-month results show solid revenue and net profit gains year on year, yet the third quarter delivered lower adjusted earnings even as sales rose. Our models see the shares as undervalued, but will the aluminum operations sustain the overall momentum or expose the business to sharper swings in energy and metal prices?
Compare Henan Shenhuo Coal & Power Co Ltd with another stock
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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.Aluminum · 83 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+26.7% · Top 25%
Profitability
Return on equity (12 months)30.4% · Top 25%
Return on assets8.1% · Top 25%
Net margin (12 months)16.7% · Top 25%
Operating margin (12 months)34.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)23.3% · Above median
Dividend yield (12 months)3.2% · Above median
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Aluminum 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). "Henan Shenhuo Coal & Power Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000933
Frequently asked questions
Is Henan Shenhuo Coal & Power Co Ltd (000933) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of ¥32.01 versus a price of ¥25.26, about +27% upside (undervalued).
What is the fair value of 000933?
Our model-based fair value for Henan Shenhuo Coal & Power Co Ltd is ¥32.01 (as of Nov 4, 2026), built from audited fundamentals. The current price: ¥25.26.
What is the quality score of 000933?
Henan Shenhuo Coal & Power Co Ltd has a Quality Score of 77/100. 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 Henan Shenhuo Coal & Power Co Ltd (000933)?
Our model-based price target is the fair value of ¥32.01 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario ¥22.71, optimistic scenario ¥41.61. It is a calculation from audited fundamentals, not an analyst target.
What is the Henan Shenhuo Coal & Power Co Ltd stock forecast for 2026?
Our models put fair value at ¥32.01, about +27% upside versus a price of ¥25.26 (undervalued). Cautious scenario ¥22.71, optimistic scenario ¥41.61. The calculation is refreshed regularly with new filings.
What is the revenue of Henan Shenhuo Coal & Power Co Ltd (000933)?
Henan Shenhuo Coal & Power Co Ltd reported trailing-twelve-month revenue of about 48.1B CNY (latest available figure, as of Nov 4, 2026).
Does Henan Shenhuo Coal & Power Co Ltd pay a dividend?
Henan Shenhuo Coal & Power Co Ltd currently shows a dividend yield of 3.17% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Henan Shenhuo Coal & Power Co Ltd (000933)?
For today's price to be fair in a discounted-cash-flow model, Henan Shenhuo Coal & Power Co Ltd would have to grow free cash flow by -9.0 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.9 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 000933 use?
Our models discount Henan Shenhuo Coal & Power Co Ltd at 9.7 %: a base by market capitalisation (mid), damped by beta 0.72, country premium for China. 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 Henan Shenhuo Coal & Power Co Ltd that is -9.0 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Henan Shenhuo Coal & Power Co Ltd (000933) delivered so far?
Over the past 5 years revenue at Henan Shenhuo Coal & Power Co Ltd grew +16.9 % a year. The price currently implies -9.0 % per year free-cash-flow growth a 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 Henan Shenhuo Coal & Power Co Ltd (000933) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Henan Shenhuo Coal & Power Co Ltd (-9.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Henan Shenhuo Coal & Power Co Ltd (000933)?
The free-cash-flow yield on the price is 14.49 %: that much free cash flow Henan Shenhuo Coal & Power Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Henan Shenhuo Coal & Power Co Ltd (000933)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Henan Shenhuo Coal & Power Co Ltd it is ¥32.01 per share (as of Nov 4, 2026), against a price of ¥25.26. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Henan Shenhuo Coal & Power Co Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 000933 trades below its calculated fair value: price ¥25.26, fair value ¥32.01, a gap of about +27% (undervalued). 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 000933?
No. The price is what the market pays today (¥25.26); the fair value is what the company's own numbers justify (¥32.01). For Henan Shenhuo Coal & Power Co Ltd the two are ¥6.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Henan Shenhuo Coal & Power Co Ltd worth?
The market values Henan Shenhuo Coal & Power Co Ltd at about 55.9B CNY (market capitalisation, as of Nov 4, 2026). Per share that is ¥25.26; our models calculate a fair value of ¥32.01 per share.
What do the bullish and bearish scenarios say about 000933?
Our models span a range for Henan Shenhuo Coal & Power Co Ltd: cautious scenario ¥22.71, base ¥32.01, optimistic ¥41.61 per share (as of Nov 4, 2026, price ¥25.26). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 000933?
Henan Shenhuo Coal & Power Co Ltd trades at a price-to-earnings ratio of 7.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥32.01 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: 12.0. Other multiples: PEG 0.4, P/B 2.3, P/S 1.2, EV/EBITDA 3.5.
What is the PEG ratio of 000933?
The PEG ratio of Henan Shenhuo Coal & Power Co Ltd is 0.36 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Henan Shenhuo Coal & Power Co Ltd (000933)?
Balance-sheet figures for Henan Shenhuo Coal & Power Co Ltd (as of Nov 4, 2026): return on equity 30.4%, debt of 0.11 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is 000933 from its 52-week high?
Henan Shenhuo Coal & Power Co Ltd trades at ¥25.26, about 32% below its 52-week high of ¥37.02 and 20% above the low of ¥21.11 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥32.01 is for.
Which stocks are comparable to Henan Shenhuo Coal & Power Co Ltd?
From the same area (Basic Materials) we also value Shandong Hongqiao Aluminum Industry Holding, Aluminum Corporation, China Hongqiao Group, Hindalco Industries Limited, 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 Henan Shenhuo Coal & Power Co Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price ¥25.26, calculated fair value ¥32.01 (+27%), Quality Score 77/100, from 26 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 000933 calculated?
We run Henan Shenhuo Coal & Power Co Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥32.01, 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 15.5% above its aggregate fair value. Henan Shenhuo Coal & Power Co Ltd currently trades 21% below its own fair value, and the market average says nothing about that. 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 Henan Shenhuo Coal & Power Co Ltd (000933)?
The closing price on Nov 6, 2026 was ¥25.26. Our model-based fair value is ¥32.01, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Henan Shenhuo Coal & Power Co Ltd right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (¥22.71 to ¥41.61) leaves room in how you read the outcome.
Key figures of Henan Shenhuo Coal & Power Co Ltd
How large is the market capitalisation of Henan Shenhuo Coal & Power Co Ltd (000933)?
The market capitalisation of Henan Shenhuo Coal & Power Co Ltd is 55.9B CNY (≈ $8.4B). 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 Henan Shenhuo Coal & Power Co Ltd (000933)?
The price-to-sales ratio of Henan Shenhuo Coal & Power Co Ltd is 1.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Henan Shenhuo Coal & Power Co Ltd (000933)?
Earnings per share at Henan Shenhuo Coal & Power Co Ltd are ¥3.62 (price ÷ EPS = P/E 7.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Henan Shenhuo Coal & Power Co Ltd (000933)?
The dividend yield of Henan Shenhuo Coal & Power Co Ltd is 3.2% (payout 22.1%). 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 net margin of Henan Shenhuo Coal & Power Co Ltd (000933)?
The net margin of Henan Shenhuo Coal & Power Co Ltd is 16.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Henan Shenhuo Coal & Power Co Ltd (000933)?
The return on equity (ROE) of Henan Shenhuo Coal & Power Co Ltd is 30.4% (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 Henan Shenhuo Coal & Power Co Ltd (000933)?
On an EBIT basis the return on assets of Henan Shenhuo Coal & Power Co Ltd is 14.1% (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 Henan Shenhuo Coal & Power Co Ltd (000933)?
The operating margin of Henan Shenhuo Coal & Power Co Ltd is 34.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Henan Shenhuo Coal & Power Co Ltd (000933)?
Revenue at Henan Shenhuo Coal & Power Co Ltd is growing +23.3% versus a year earlier (3y avg −1.3%). 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 Henan Shenhuo Coal & Power Co Ltd (000933)?
Earnings per share at Henan Shenhuo Coal & Power Co Ltd are growing +71.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Henan Shenhuo Coal & Power Co Ltd (000933) carry?
The net debt of Henan Shenhuo Coal & Power Co Ltd is 8.8B CNY (fiscal year 2025, ≈ 1.1 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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Broad data
Nov 4, 2026