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China Western Power Industrial Co (002630) Fair Value & Analysis

Industrials · CN · Market cap 2.4B CNY

CW China Western Power Industrial Co 002630 · SHE
Price¥1.67
Fair Value¥0.8300
Upside-50.3%
Quality44/100
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Weak Growth
Loss-making · -27.0% net margin
Negative equity (buybacks among others) · generates free cash flow
Trails peers (3/11)
Narrow moat 24/100
Evidence: High Range ¥0.4400 – ¥0.9700 Share as image

Fair value as of: Jul 22, 2026

From 12 valuation models · updated 19 days ago

Share price −0.6% over the past month.

Below-average quality, and screening another 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥0.9700). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥0.4400 to ¥0.9700) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥5.71 ¥1.60 Fair Value ¥0.8300 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥1.60 – ¥5.71 · fair‑value band ¥0.4400 – ¥0.9700 · the ¥1.67 price screens above the ¥0.8300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

China Western Power Industrial Co (002630) currently trades at ¥1.67, while our model-based Fair Value estimate is ¥0.8300, implying the stock looks roughly 50.3% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, China Western Power Industrial Co generated revenue of 1.2B CNY at a net margin of -27.0%. Revenue declined 69.1% year over year. Net debt stands at 1.2B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥0.4400 (bear case) to ¥0.9700 (bull case); at ¥1.67, 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 54% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -50%, 002630 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model 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. Evidence
Highest evidence
Growth DCF ¥0.8700 ¥1.47 ¥2.51 80
Rev-Margin DCF ¥0.1000 ¥0.4700 ¥0.9600 74
Gordon GGM ¥0.6500 ¥0.7300 ¥0.8400 70
All 12 models by family
DCF Models
FCF DCF ¥0.8000 ¥1.42 ¥2.59 38
5Y Revenue Exit ¥0.1000 ¥0.4300 ¥0.9200 39
5Y EBITDA Exit ¥0.3100 ¥0.7900 ¥1.44 41
10Y Revenue Exit ¥0.3500 ¥0.6500 ¥0.9700 36
10Y EBITDA Exit ¥0.5000 ¥0.8800 ¥1.28 37
Dividend Discount
Gordon GGM ¥0.6500 ¥0.7300 ¥0.8400 70
DDM Multi-Stage ¥0.6500 ¥0.8300 ¥1.06 61
Multiples
EV/EBIT ¥0.3300 ¥0.6600 53
EV/EBITDA ¥0.1600 ¥0.5500 ¥0.9400 54
EV/Revenue ¥0.0100 ¥0.3200 43
Growth DCF
Growth DCF ¥0.8700 ¥1.47 ¥2.51 80
Rev-Margin DCF ¥0.1000 ¥0.4700 ¥0.9600 74

Widest divergence: DCF Models (¥0.7900) versus Multiples (¥0.3300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2B CNY
Revenue growth (YoY) -69.1%
Net margin -27.0%
Return on equity -174%
Free cash flow 228M CNY FY2025
Operating margin 6.9%
More key figures
EPS (TTM) ¥-0.2800
EPS growth (YoY) -91.7%
Net debt 1.2B CNY FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 23

Profitability 5
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 2
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

About the company

China Western Power Industrial Co., Ltd. designs, manufactures, and sells boilers in China. Its products include energy-saving, coal-fired, alkali recovery, waste incineration power generation, biomass power generation, blast furnace tail gas power generation, gas, oil sludge, waste heat, special, and industrial boilers, as well as pressure vessels.

Full company description

China Western Power Industrial Co., Ltd. designs, manufactures, and sells boilers in China. Its products include energy-saving, coal-fired, alkali recovery, waste incineration power generation, biomass power generation, blast furnace tail gas power generation, gas, oil sludge, waste heat, special, and industrial boilers, as well as pressure vessels. The company is also involved in the EPC general contracting for power plants; BTG general contracting for power stations; and other power engineering construction general contracting, municipal public works construction general contracting, etc. In addition, it engages in the equity investment; BOT project; PPP project investment construction and operation; and power plant investment construction operations. China Western Power Industrial Co., Ltd. was founded in 1983 and is headquartered in Zigong, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Western Power Industrial Co reported revenue of ¥1.7B in FY2025 versus ¥1.5B in FY2021, a compound +2.5%/yr. Reported net income was −¥287M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.7B CNY
Latest YoY
−35.4%
Avg. growth/yr (3Y) 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.
+25.0%
Avg. growth/yr (5Y) 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.
−5.4%
Avg. growth/yr (19Y) 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.
+2.7%
Revenue +2.5%/yr
FY21 ¥1.5B
FY22 ¥859M
FY23 ¥1.9B
FY24 ¥2.6B
FY25 ¥1.7B
Net income
FY21 −¥682M
FY22 −¥757M
FY23 −¥193M
FY24 −¥348M
FY25 −¥287M

002630 screens 50% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "China Western Power Industrial Co Fair Value". https://www.fairvalue-calculator.com/stock/002630

Peer Group

Specialty Industrial Machinery · 808 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.

Quality Score 44 · Bottom 25%
Fair Value upside −50% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) -27% · Bottom 25%
Operating margin (TTM) 7% · Below median
Revenue growth -69% · Bottom 25%

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/S (TTM) 0.30× · Cheaper than 75% of peers
P/FCF 1.5× · Cheaper than median
EV/EBITDA 16.2× · Pricier than median

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 · sector 0
FUTURE 0 · sector 23
PAST 0 · sector 28
HEALTH 100 · sector 96
DIVIDEND 0 · sector 24

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is China Western Power Industrial Co (002630) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥0.8300 versus a price of ¥1.67, about −50% (overvalued).
What is the fair value of 002630?
Our model-based fair value for China Western Power Industrial Co is ¥0.8300 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥1.67.
What is the quality score of 002630?
China Western Power Industrial Co has a Quality Score of 44/100. 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 revenue of China Western Power Industrial Co (002630)?
China Western Power Industrial Co reported trailing-twelve-month revenue of about 1.2B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002630?
The net profit margin of China Western Power Industrial Co is about -27.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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