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Puxing Energy Limited (0090) Fair Value & Analysis

Utilities · HK · Market cap HK$472M

PE Puxing Energy Limited 0090 · HK
PriceHK$0.9300
Fair ValueHK$1.70
Upside+82.8%
Quality56/100
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Weak Growth
Solidly profitable · 10.4% net margin
Low debt · generates free cash flow
5.69% dividend yield
Ranks above peers (13/14)
Narrow moat 43/100
Evidence: High Range HK$1.28 – HK$2.13 Share as image

Fair value as of: Aug 2, 2026

From 24 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$1.69 to HK$1.70 (+0.6%) since Jul 1, 2026. Share price −11.4% over the past month.

A solid business, screening 83% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$1.28). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$2.19 HK$0.2735 Fair Value HK$1.70 Jan 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range HK$0.2735 – HK$2.19 · fair‑value band HK$1.28 – HK$2.13 · the HK$0.9300 price screens below the HK$1.70 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Puxing Energy Limited (0090) currently trades at HK$0.9300, while our model-based Fair Value estimate is HK$1.70, implying the stock looks roughly 82.8% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Puxing Energy Limited generated revenue of HK$368M at a net margin of 10.4%. Revenue declined 62.0% year over year. It earns a return on equity of 4.3%. Net debt stands at HK$113M. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$1.28 (bear case) to HK$2.13 (bull case); at HK$0.9300, the current price sits below 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 59% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at 83%, 0090 screens cheaper 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 HK$1.64 HK$2.00 HK$2.60 80
Residual Income HK$1.38 HK$1.33 HK$1.11 76
Rev-Margin DCF HK$1.53 HK$2.10 HK$2.82 74
All 24 models by family
DCF Models
FCF DCF HK$1.60 HK$1.98 HK$2.66 38
Owner Earnings HK$1.46 HK$1.80 HK$2.42 31
5Y Revenue Exit HK$1.53 HK$2.07 HK$2.87 39
5Y EBITDA Exit HK$2.15 HK$3.11 HK$4.42 41
5Y P/E Exit HK$1.36 HK$1.77 HK$2.28 38
10Y Revenue Exit HK$1.52 HK$1.95 HK$2.41 36
10Y EBITDA Exit HK$1.90 HK$2.56 HK$3.31 37
10Y P/E Exit HK$1.46 HK$1.77 HK$2.08 35
Earnings-Based
Graham-Dodd HK$0.5500 HK$0.8500 HK$1.01 54
EPV HK$1.08 HK$1.19 HK$1.29 59
Dividend Discount
Gordon GGM HK$0.1000 HK$0.1100 HK$0.1300 70
DDM Multi-Stage HK$0.1000 HK$0.1200 HK$0.1500 61
Multiples
P/E Multiple HK$1.10 HK$1.47 HK$1.83 63
P/S Multiple HK$1.04 HK$1.38 HK$1.73 58
P/B Multiple HK$1.04 HK$1.38 HK$1.73 55
EV/EBIT HK$2.09 HK$2.71 HK$3.33 53
EV/EBITDA HK$2.94 HK$3.84 HK$4.75 54
EV/Revenue HK$1.59 HK$2.17 HK$2.75 43
Asset-Based
NCAV (Graham) HK$0.9900 HK$1.33 HK$1.98 50
Growth DCF
Growth DCF HK$1.64 HK$2.00 HK$2.60 80
Rev-Margin DCF HK$1.53 HK$2.10 HK$2.82 74
Economic Profit
Residual Income HK$1.38 HK$1.33 HK$1.11 76
ROIC Compounder HK$1.08 HK$1.19 HK$1.29 72
Growth Earnings
Growth-Adj P/E HK$0.7800 HK$1.12 HK$1.45 68

Widest divergence: Growth DCF (HK$2.00) versus Dividend Discount (HK$0.1100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$368M
Revenue growth (YoY) -62.0%
Net margin 10.4%
Return on equity 4.3%
Free cash flow HK$75.9M FY2025
P/E ratio 10.3
More key figures
Operating margin 18.3%
EPS (TTM) HK$0.0300
Dividend yield 5.7%
EPS growth (YoY) +13.9%
Net debt HK$113M FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 25

Profitability 25
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 10
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

Puxing Energy Limited, an investment holding company, develops, operates, and manages natural gas-fired power plants in the People's Republic of China. It owns natural gas-fired power plants, as well as engages in heating capacity related services.

Full company description

Puxing Energy Limited, an investment holding company, develops, operates, and manages natural gas-fired power plants in the People's Republic of China. It owns natural gas-fired power plants, as well as engages in heating capacity related services. The company also operates natural gas power plant which has aggregate capacity of approximately of 345.92 MW; and engages in the construction of distributed photovoltaic power generating units which has aggregate capacity of 1,072kW. In addition, it offers power generation and heat supply. The company was founded in 2004 and is headquartered in Hangzhou, the People's Republic of China. Puxing Energy Limited operates as a subsidiary of Puxing International Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Puxing Energy Limited reported revenue of HK$356M in FY2025 versus HK$602M in FY2021, a compound −12.3%/yr. Reported net income was HK$37.3M in FY2025, compounding −22.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$356M
Latest YoY
−33.3%
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.
−22.1%
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.
−9.3%
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.
−0.8%
Revenue −12.3%/yr
FY21 HK$602M
FY22 HK$753M
FY23 HK$514M
FY24 HK$534M
FY25 HK$356M
Net income −22.6%/yr
FY21 HK$104M
FY22 HK$51.9M
FY23 HK$70.8M
FY24 HK$59.9M
FY25 HK$37.3M
Character of growth · EPS growth decomposed (2015-2025) +2.8 % p.a.
Revenue per share +3.6 pp

of which total revenue +4.0 pp · buybacks/dilution −0.5 pp

EBIT margin −4.5 pp
Tax rate +0.0 pp
Residual (interest, one-offs) +3.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Puxing Energy Limited · Fair Value
HK$1.70 +83%Fair Value
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Cite: Fair Value Calculator (2026). "Puxing Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/0090

Peer Group

Utilities - Renewable · 220 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 56 · Top 25%
Fair Value upside +83% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 3% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 18% · Above median
Revenue growth -62% · Bottom 25%
Dividend yield (TTM) 5.7% · Top 25%
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 10.3× · Cheaper than 75% of peers
P/B 0.52× · Cheaper than median
P/S (TTM) 1.28× · Cheaper than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 2.3× · Cheaper than 75% of peers

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 100 · sector 12
FUTURE 0 · sector 0
PAST 17 · sector 12
HEALTH 89 · sector 68
DIVIDEND 100 · sector 48

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is Puxing Energy Limited (0090) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$1.70 versus a price of HK$0.9300, about +83% (undervalued).
What is the fair value of 0090?
Our model-based fair value for Puxing Energy Limited is HK$1.70 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.9300.
What is the quality score of 0090?
Puxing Energy Limited has a Quality Score of 56/100. 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 Puxing Energy Limited (0090)?
Puxing Energy Limited reported trailing-twelve-month revenue of about HK$368M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0090?
The net profit margin of Puxing Energy Limited is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does Puxing Energy Limited pay a dividend?
Puxing Energy Limited currently shows a dividend yield of about 5.69% relative to its recent price (as of Aug 2, 2026).

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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