China Resources Power Holding (0836) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of China Resources Power Holding HK$36.45, price HK$19.76, upside +84.5%, quality 38 out of 100. 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, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$7.37 – HK$22.81 · fair‑value band HK$27.33 – HK$53.07 · the HK$19.76 price screens below the HK$36.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People's Republic of China. The company operates in two segments, Thermal Power and Renewable Energy.
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China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People's Republic of China. The company operates in two segments, Thermal Power and Renewable Energy. It operates and manages coal- and gas-fired power plants, wind farms, photovoltaic power plants, hydro-electric power plants, and other clean and renewable energy projects. As of December 31, 2025, the company had 50 coal-fired power plants, 221 wind farms, 221 photovoltaic power plants, 20 hydroelectric plants, and 6 gas-fired plants with total attributable grid-connected installed capacity was 89,647MW. It is also involved in the distribution of energy, power sale, smart energy, coal mining, and other areas. The company was incorporated in 2001 and is based in Wan Chai, Hong Kong. China Resources Power Holdings Company Limited operates as a subsidiary of CRH (Power) Limited.
Stock analysis
China Resources Power Holding (0836) currently trades at HK$19.76, while our model-based Fair Value estimate is HK$36.45, implying the stock looks roughly 45.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$40.83 per share, and 11 of the 14 models we run sit above the HK$19.76 price.
Bear case: the Economic Profit group reads lowest at HK$10.87, and 3 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: HK$27.33 (bear) to HK$53.07 (bull), the price of HK$19.76 sits below 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 38/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China Resources Power Holding reported revenue of HK$102B in FY2025 versus HK$90.4B in FY2021, a compound +3.1%/yr. Reported net income was HK$14.8B in FY2025, compounding +62.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap HK$102B (≈ $13.0B) · P/E ratio 7.4 · P/S ratio 1.08 · Dividend yield 5.5% · Net margin 14.5% · Return on equity 9.8% · Return on assets (EBIT) 4.8% · Operating margin 18.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −48% fair-value upside, at 84%, 0836 screens cheaper than that median.
Fair Value models
Bear HK$27.33Fair Value HK$36.45Bull HK$53.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. 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.Evidence ⓘEvidence = 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.37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−3.1%
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.
−0.4%
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.
+8.0%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 22 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.
+27.4%
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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.
+21.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.8%
Dividend (yield on the price)5.5%
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.15.8% vs 4.0%, 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.20% → 21%
News mood ⓘNews mood, the average tone of recent news (19 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.Positive
Recent news coverage is more positive than average.
Compare China Resources Power Holding 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 - Independent Power Producers · 73 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside+84.5% · Top 25%
Profitability
Return on equity (TTM)9.8% · Above median
Return on assets2.9% · Below median
Net margin (TTM)12.5% · Above median
Operating margin (TTM)18.1% · Above median
Growth and dividend
Revenue growth9.4% · Above median
Dividend yield (TTM)5.5% · Above median
Balance sheet
Debt / equity1.34× · Highest 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). "China Resources Power Holding Fair Value". https://www.fairvalue-calculator.com/stock/0836
Frequently asked questions
Is China Resources Power Holding (0836) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$36.45 versus a price of HK$19.76, about +84% upside (undervalued).
What is the fair value of 0836?
Our model-based fair value for China Resources Power Holding is HK$36.45 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$19.76.
What is the quality score of 0836?
China Resources Power Holding has a Quality Score of 38/100. 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 China Resources Power Holding (0836)?
Our model-based price target is the fair value of HK$36.45 (as of Sep 27, 2026) from 14 valuation models. Cautious scenario HK$27.33, optimistic scenario HK$53.07. It is a calculation from audited fundamentals, not an analyst target.
What is the China Resources Power Holding stock forecast for 2026?
Our models put fair value at HK$36.45, about +84% upside versus a price of HK$19.76 (undervalued). Cautious scenario HK$27.33, optimistic scenario HK$53.07. The calculation is refreshed regularly with new filings.
What is the revenue of China Resources Power Holding (0836)?
China Resources Power Holding reported trailing-twelve-month revenue of about HK$107B (latest available figure, as of Sep 27, 2026).
Does China Resources Power Holding pay a dividend?
China Resources Power Holding currently shows a dividend yield of about 5.53% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of China Resources Power Holding (0836)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Resources Power Holding it is HK$36.45 per share (as of Sep 27, 2026), against a price of HK$19.76. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is China Resources Power Holding stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0836 trades below its calculated fair value: price HK$19.76, fair value HK$36.45, a gap of about +84% (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 0836?
No. The price is what the market pays today (HK$19.76); the fair value is what the company's own numbers justify (HK$36.45). For China Resources Power Holding the two are HK$16.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Resources Power Holding worth?
The market values China Resources Power Holding at about HK$102B (market capitalisation, as of Sep 27, 2026). Per share that is HK$19.76; our models calculate a fair value of HK$36.45 per share.
What do the bullish and bearish scenarios say about 0836?
Our models span a range for China Resources Power Holding: cautious scenario HK$27.33, base HK$36.45, optimistic HK$53.07 per share (as of Sep 27, 2026, price HK$19.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0836?
China Resources Power Holding trades at a price-to-earnings ratio of 7.4 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$36.45 is built from several models across several years. Other multiples: PEG 1.9, P/B 0.9, P/S 1.0, EV/EBITDA 6.1.
What is the PEG ratio of 0836?
The PEG ratio of China Resources Power Holding is 1.91 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of China Resources Power Holding (0836)?
Balance-sheet figures for China Resources Power Holding (as of Sep 27, 2026): return on equity 9.8%, debt of 1.34 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 0836 from its 52-week high?
China Resources Power Holding trades at HK$19.76, about 5% below its 52-week high of HK$20.91 and 20% above the low of HK$16.47 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$36.45 is for.
Which stocks are comparable to China Resources Power Holding?
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 China Resources Power Holding stock attractive at the current price?
The data as of Sep 27, 2026: price HK$19.76, calculated fair value HK$36.45 (+84%), Quality Score 38/100, from 14 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 0836 calculated?
We run China Resources Power Holding through 14 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 HK$36.45, 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 14.7 % above its aggregate fair value. China Resources Power Holding currently trades 46 % 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 China Resources Power Holding (0836)?
The closing price on Sep 30, 2026 was HK$19.76. Our model-based fair value is HK$36.45, about +84% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Resources Power Holding right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$27.33). The market is more pessimistic than our downside scenario. A fairly wide model range (HK$27.33 to HK$53.07) leaves room in how you read the outcome.
Where does the earnings growth of China Resources Power Holding (0836) come from?
Earnings per share at China Resources Power Holding grew +4.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.1 %, EBIT margin −4.1 %, tax rate +2.0 %, residual (interest, one-offs) +2.2 %. 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 China Resources Power Holding
How large is the market capitalisation of China Resources Power Holding (0836)?
The market capitalisation of China Resources Power Holding is HK$102B (≈ $13.0B). 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 China Resources Power Holding (0836)?
The price-to-sales ratio of China Resources Power Holding is 1.08 (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 China Resources Power Holding (0836)?
The dividend yield of China Resources Power Holding is 5.5%. 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 China Resources Power Holding (0836)?
The net margin of China Resources Power Holding is 14.5% (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 China Resources Power Holding (0836)?
The return on equity (ROE) of China Resources Power Holding is 9.8% (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 China Resources Power Holding (0836)?
On an EBIT basis the return on assets of China Resources Power Holding is 4.8% (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 China Resources Power Holding (0836)?
The operating margin of China Resources Power Holding is 18.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Resources Power Holding (0836)?
Revenue at China Resources Power Holding is growing +9.4% versus a year earlier (3y avg −0.4%). 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 China Resources Power Holding (0836)?
Earnings per share at China Resources Power Holding are growing −15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Resources Power Holding (0836) generate?
The free cash flow of China Resources Power Holding is −HK$5.5B (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 China Resources Power Holding (0836) carry?
The net debt of China Resources Power Holding is HK$212B (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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Sep 27, 2026