SPIC Dongfang New Energy Corp (000958) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of SPIC Dongfang New Energy Corp stock ¥3.24, price ¥5.13, that is 36.8% below the price, quality 40 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 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 1, 2026.
How to read this chart
60‑month range ¥3.15 – ¥10.36 · fair‑value band ¥2.43 – ¥4.05 · the ¥5.13 price screens above the ¥3.24 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 1, 2026.
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SPIC Industry-Finance Holdings Co., Ltd. engages in the energy and financial businesses in China. The company operates through Nuclear Power, Non-Nuclear Energy, and Financial segments.
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Its Nuclear Power segment engages in nuclear power business, nuclear power technical services, and other related activities. The Non-Nuclear Energy segment engages in power generation, heating, and electricity services.
Its Financial segment engages in financial businesses such as trust, insurance brokerage, futures brokerage, and asset management. The company was formerly known as SPIC Dongfang Energy Corporation and changed its name to SPIC Industry-Finance Holdings Co., Ltd. in May 2022.
The company was founded in 1998 and is based in Yantai, China.
Stock analysis
SPIC Dongfang New Energy Corp (000958) currently trades at ¥5.13, while our model-based Fair Value estimate is ¥3.24, 37% 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 ¥4.08 per share, and 1 of the 12 models we run sit above the ¥5.13 price.
Bear case: the Multiples group reads lowest at ¥1.19, and 11 of the 12 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥2.43 (bear) to ¥4.05 (bull), the price of ¥5.13 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 40/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
SPIC Dongfang New Energy Corp reported revenue of 12.5B CNY in FY2025 versus 8.9B CNY in FY2021, a compound +8.9%/yr. Reported net income was 3.3B CNY in FY2025, compounding +26.0%/yr from FY2021.
Key figures
Market cap 96.3B CNY (≈ $14.5B) Large · P/E ratio 19.0 · P/S ratio 5.02 · EPS (TTM) ¥0.2700 · Dividend yield 2.1% · Net margin 26.4% · Return on equity 8.5% · Return on assets (EBIT) 4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at −37%, 000958 screens cheaper than that median.
Fair Value models
Bear¥2.43Fair Value ¥3.24Bull¥4.05
Price ¥5.13 · Downside -36.8%
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 (¥0.1359 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.20/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+117.0%
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.
+26.8%
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.
−1.4%
Start year 2020 (pandemic). Over 10 years: +17.2% 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.
+16.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)2.1%
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.20.3% vs 4.5%, picking up
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.26% → 28%
2025 sits 215% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 7.0%/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.
AI conclusion: Stable margins from regulated power operations offer consistency, yet high leverage and negative free cash flow remain the core limitation on financial flexibility.
Main risk: High leverage together with negative free cash flow is the main risk and would constrain funding for ongoing power generation activities.
SPIC Industry-Finance Holdings combines power generation with trust, insurance and asset management services. Its half-year results showed an 11 percent profit drop and 22 percent revenue decline, which aligns with our models viewing the stock as overvalued despite the regulated utility exposure. Does the financial side offer a buffer against further energy margin pressure, or will operational trends dominate?
Compare SPIC Dongfang New Energy Corp 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.Utilities - Regulated Electric · 156 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Below median
Fair Value upside−36.8% · Below median
Profitability
Return on equity (12 months)8.5% · Below median
Return on assets3.4% · Above median
Net margin (12 months)39.7% · Top 25%
Operating margin (12 months)25.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−26.3% · Bottom 25%
Dividend yield (12 months)2.1% · Below median
Balance sheet
Debt / equity1.42× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
P/E (12 months)19.0× · Pricier than median
P/B2.18× · Priciest 25%
P/S (12 months)12.40× · Priciest 25%
EV/EBITDA40.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 12
FUTURE (revenue growth)0· sector 22
PAST (return on equity)34· sector 39
HEALTH (low debt)29· sector 52
DIVIDEND (yield)43· sector 63
VALUE 0: the price sits above our fair-value range.
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). "SPIC Dongfang New Energy Corp Fair Value". https://www.fairvalue-calculator.com/stock/000958
Frequently asked questions
Is SPIC Dongfang New Energy Corp (000958) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of ¥3.24 versus a price of ¥5.13, about 37% lower (overvalued).
What is the fair value of 000958?
Our model-based fair value for SPIC Dongfang New Energy Corp is ¥3.24 (as of Nov 1, 2026), built from audited fundamentals. The current price: ¥5.13.
What is the quality score of 000958?
SPIC Dongfang New Energy Corp has a Quality Score of 40/100. 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 SPIC Dongfang New Energy Corp (000958)?
Our model-based price target is the fair value of ¥3.24 (as of Nov 1, 2026) from 13 valuation models. Cautious scenario ¥2.43, optimistic scenario ¥4.05. It is a calculation from audited fundamentals, not an analyst target.
What is the SPIC Dongfang New Energy Corp stock forecast for 2026?
Our models put fair value at ¥3.24, about 37% lower versus a price of ¥5.13 (overvalued). Cautious scenario ¥2.43, optimistic scenario ¥4.05. The calculation is refreshed regularly with new filings.
What is the revenue of SPIC Dongfang New Energy Corp (000958)?
SPIC Dongfang New Energy Corp reported trailing-twelve-month revenue of about 11.1B CNY (latest available figure, as of Nov 1, 2026).
Does SPIC Dongfang New Energy Corp pay a dividend?
SPIC Dongfang New Energy Corp currently shows a dividend yield of 2.14% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of SPIC Dongfang New Energy Corp (000958)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SPIC Dongfang New Energy Corp it is ¥3.24 per share (as of Nov 1, 2026), against a price of ¥5.13. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is SPIC Dongfang New Energy Corp stock overvalued or undervalued in 2026?
As of Nov 1, 2026, 000958 trades above its calculated fair value: price ¥5.13, fair value ¥3.24, a gap of about −37% (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 000958?
No. The price is what the market pays today (¥5.13); the fair value is what the company's own numbers justify (¥3.24). For SPIC Dongfang New Energy Corp the two are ¥1.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is SPIC Dongfang New Energy Corp worth?
The market values SPIC Dongfang New Energy Corp at about 96.3B CNY (market capitalisation, as of Nov 1, 2026). Per share that is ¥5.13; our models calculate a fair value of ¥3.24 per share.
What do the bullish and bearish scenarios say about 000958?
Our models span a range for SPIC Dongfang New Energy Corp: cautious scenario ¥2.43, base ¥3.24, optimistic ¥4.05 per share (as of Nov 1, 2026, price ¥5.13). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 000958?
SPIC Dongfang New Energy Corp trades at a price-to-earnings ratio of 19.0 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥3.24 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 21.0. Other multiples: P/B 2.2, P/S 12.4, EV/EBITDA 40.5.
How solid is the balance sheet of SPIC Dongfang New Energy Corp (000958)?
Balance-sheet figures for SPIC Dongfang New Energy Corp (as of Nov 1, 2026): return on equity 8.5%, debt of 1.42 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 000958 from its 52-week high?
SPIC Dongfang New Energy Corp trades at ¥5.13, about 30% below its 52-week high of ¥7.30 and 7% above the low of ¥4.81 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.24 is for.
Which stocks are comparable to SPIC Dongfang New Energy Corp?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 SPIC Dongfang New Energy Corp stock attractive at the current price?
The data as of Nov 1, 2026: price ¥5.13, calculated fair value ¥3.24 (−37%), Quality Score 40/100, from 13 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 000958 calculated?
We run SPIC Dongfang New Energy Corp through 13 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 ¥3.24, 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. SPIC Dongfang New Energy Corp 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 SPIC Dongfang New Energy Corp (000958)?
The closing price on Nov 5, 2026 was ¥5.13. Our model-based fair value is ¥3.24, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SPIC Dongfang New Energy Corp right now?
The price sits above even our optimistic bull case (¥4.05). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of SPIC Dongfang New Energy Corp (000958) come from?
Earnings per share at SPIC Dongfang New Energy Corp grew −10.7 % a year from 2013 to 2024. Broken into its drivers: revenue per share −7.5 %, EBIT margin +5.6 %, tax rate −1.5 %, residual (interest, one-offs) −7.2 %. 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 SPIC Dongfang New Energy Corp
How large is the market capitalisation of SPIC Dongfang New Energy Corp (000958)?
The market capitalisation of SPIC Dongfang New Energy Corp is 96.3B CNY (≈ $14.5B). 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 SPIC Dongfang New Energy Corp (000958)?
The price-to-sales ratio of SPIC Dongfang New Energy Corp is 5.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SPIC Dongfang New Energy Corp (000958)?
Earnings per share at SPIC Dongfang New Energy Corp are ¥0.2700 (price ÷ EPS = P/E 19.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SPIC Dongfang New Energy Corp (000958)?
The dividend yield of SPIC Dongfang New Energy Corp is 2.1% (payout 40.7%). 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 SPIC Dongfang New Energy Corp (000958)?
The net margin of SPIC Dongfang New Energy Corp is 26.4% (fiscal year 2025). 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 SPIC Dongfang New Energy Corp (000958)?
The return on equity (ROE) of SPIC Dongfang New Energy Corp is 8.5% (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 SPIC Dongfang New Energy Corp (000958)?
On an EBIT basis the return on assets of SPIC Dongfang New Energy Corp is 4.0% (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 SPIC Dongfang New Energy Corp (000958)?
The operating margin of SPIC Dongfang New Energy Corp is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SPIC Dongfang New Energy Corp (000958)?
Revenue at SPIC Dongfang New Energy Corp is growing −26.3% versus a year earlier (3y avg +26.8%). 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 SPIC Dongfang New Energy Corp (000958)?
Earnings per share at SPIC Dongfang New Energy Corp are growing −45.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SPIC Dongfang New Energy Corp (000958) generate?
The free cash flow of SPIC Dongfang New Energy Corp is −9.1B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SPIC Dongfang New Energy Corp (000958) carry?
The net debt of SPIC Dongfang New Energy Corp is 62.6B CNY (fiscal year 2025). 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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Thin data
Nov 1, 2026