Huaneng Power International Inc (600011) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Huaneng Power International Inc stock ¥9.10, price ¥7.40, upside +23.0%, quality 46 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 6, 2026.
How to read this chart
60‑month range ¥3.77 – ¥10.29 · fair‑value band ¥5.63 – ¥15.88 · the ¥7.40 price screens below the ¥9.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Huaneng Power International, Inc., together with its subsidiaries, generates and sells electric power to the regional or provincial grid companies in the People's Republic of China, the Islamic Republic of Pakistan, and internationally.
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The company develops, constructs, operates, and manages coal-fired and gas-fired power plants, as well as is involved in the business of new energy generation projects and supporting ports, shipping, incremental distribution grid, and other facilities.
It also provides port, transportation, maintenance, and heating pipeline services. It has installed power generation capacity of 155,869 MW, including natural gas power, hydropower, wind power, and solar power.
The company was incorporated in 1994 and is based in Beijing, the People's Republic of China.
Stock analysis
Huaneng Power International Inc (600011) currently trades at ¥7.40, while our model-based Fair Value estimate is ¥9.10, implying the stock looks roughly 19% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥14.51 per share, and 15 of the 25 models we run sit above the ¥7.40 price.
Bear case: the Asset-Based group reads lowest at ¥1.40, and 10 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥5.63 (bear) to ¥15.88 (bull), the price of ¥7.40 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 46/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Huaneng Power International Inc reported revenue of 228B CNY in FY2025 versus 205B CNY in FY2021, a compound +2.7%/yr. Reported net income was 14.4B CNY in FY2025.
Key figures
Market cap 116B CNY (≈ $17.4B) Large · P/E ratio 12.5 · P/S ratio 0.70 · EPS (TTM) ¥0.5900 · Dividend yield 5.4% · Net margin 5.2% · Return on equity 7.8% · Return on assets (EBIT) 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 12% 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 23%, 600011 screens cheaper than that median.
Fair Value models
Bear¥5.63Fair Value ¥9.10Bull¥15.88
Price ¥7.40 · Upside +23.0%
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 (¥0.1614 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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.
−2.5%
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.
+6.2%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 30 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.
+13.9%
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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.
≈ +29.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +24.3%
Dividend (yield on the price)5.4%
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: 36.3% / 0.7%
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.6% → 13%
2025 sits 55% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.20 per share, median 0.40 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+20.2%
Yearly growth needed for the next five years to justify today's price.
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.
+1.7%
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 +18.2% a year for the price and +0.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (41 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.
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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 · 77 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+23.0% · Above median
Profitability
Return on equity (12 months)7.8% · Below median
Return on assets3.2% · Above median
Net margin (12 months)7.1% · Below median
Operating margin (12 months)10.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)−3.0% · Below median
Dividend yield (12 months)5.4% · Above median
Balance sheet
Debt / equity3.19× · Highest 25%
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
P/E (12 months)12.5× · Cheaper than median
P/B1.79× · Pricier than median
P/S (12 months)0.70× · Cheapest 25%
Price / free cash flow (fiscal year)16.5× · Pricier than median
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). "Huaneng Power International Inc Fair Value". https://www.fairvalue-calculator.com/stock/600011
Frequently asked questions
Is Huaneng Power International Inc (600011) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥9.10 versus a price of ¥7.40, about +23% upside (undervalued).
What is the fair value of 600011?
Our model-based fair value for Huaneng Power International Inc is ¥9.10 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥7.40.
What is the quality score of 600011?
Huaneng Power International Inc has a Quality Score of 46/100. 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 Huaneng Power International Inc (600011)?
Our model-based price target is the fair value of ¥9.10 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario ¥5.63, optimistic scenario ¥15.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Huaneng Power International Inc stock forecast for 2026?
Our models put fair value at ¥9.10, about +23% upside versus a price of ¥7.40 (undervalued). Cautious scenario ¥5.63, optimistic scenario ¥15.88. The calculation is refreshed regularly with new filings.
What is the revenue of Huaneng Power International Inc (600011)?
Huaneng Power International Inc reported trailing-twelve-month revenue of about 224B CNY (latest available figure, as of Nov 6, 2026).
Does Huaneng Power International Inc pay a dividend?
Huaneng Power International Inc currently shows a dividend yield of 5.41% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Huaneng Power International Inc (600011)?
For today's price to be fair in a discounted-cash-flow model, Huaneng Power International Inc would have to grow free cash flow by +20.2 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 600011 use?
Our models discount Huaneng Power International Inc at 9.2 %: a base by market capitalisation (large), damped by beta 0.70, 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 Huaneng Power International Inc that is +20.2 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Huaneng Power International Inc (600011) delivered so far?
Over the past 5 years revenue at Huaneng Power International Inc grew +6.2 % a year. The price currently implies +20.2 % 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 Huaneng Power International Inc (600011) growing?
The median revenue growth in the sector is +4.0 % a year. That is the yardstick for the growth priced into Huaneng Power International Inc (+20.2 % 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 Huaneng Power International Inc (600011)?
The free-cash-flow yield on the price is 8.19 %: that much free cash flow Huaneng Power International Inc produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Huaneng Power International Inc (600011)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huaneng Power International Inc it is ¥9.10 per share (as of Nov 6, 2026), against a price of ¥7.40. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Huaneng Power International Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 600011 trades below its calculated fair value: price ¥7.40, fair value ¥9.10, a gap of about +23% (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 600011?
No. The price is what the market pays today (¥7.40); the fair value is what the company's own numbers justify (¥9.10). For Huaneng Power International Inc the two are ¥1.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Huaneng Power International Inc worth?
The market values Huaneng Power International Inc at about 116B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥7.40; our models calculate a fair value of ¥9.10 per share.
What do the bullish and bearish scenarios say about 600011?
Our models span a range for Huaneng Power International Inc: cautious scenario ¥5.63, base ¥9.10, optimistic ¥15.88 per share (as of Nov 6, 2026, price ¥7.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600011?
Huaneng Power International Inc trades at a price-to-earnings ratio of 12.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥9.10 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 14.9. Other multiples: PEG 0.5, P/B 1.8, P/S 0.7, EV/EBITDA 7.6.
What is the PEG ratio of 600011?
The PEG ratio of Huaneng Power International Inc is 0.46 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Huaneng Power International Inc (600011)?
Balance-sheet figures for Huaneng Power International Inc (as of Nov 6, 2026): return on equity 7.8%, debt of 3.19 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 600011 from its 52-week high?
Huaneng Power International Inc trades at ¥7.40, about 24% below its 52-week high of ¥9.76 and 12% above the low of ¥6.60 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥9.10 is for.
Which stocks are comparable to Huaneng Power International Inc?
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 Huaneng Power International Inc stock attractive at the current price?
The data as of Nov 6, 2026: price ¥7.40, calculated fair value ¥9.10 (+23%), Quality Score 46/100, 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 600011 calculated?
We run Huaneng Power International Inc 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 ¥9.10, 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. Huaneng Power International Inc currently trades 19% 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 Huaneng Power International Inc (600011)?
The closing price on Nov 5, 2026 was ¥7.40. Our model-based fair value is ¥9.10, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huaneng Power International Inc right now?
The model range is unusually wide (¥5.63 to ¥15.88). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Huaneng Power International Inc (600011) come from?
Earnings per share at Huaneng Power International Inc grew −1.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.8 %, EBIT margin −6.2 %, tax rate +0.7 %, residual (interest, one-offs) −1.8 %. 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 Huaneng Power International Inc
How large is the market capitalisation of Huaneng Power International Inc (600011)?
The market capitalisation of Huaneng Power International Inc is 116B CNY (≈ $17.4B). 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 Huaneng Power International Inc (600011)?
The price-to-sales ratio of Huaneng Power International Inc is 0.70 (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 Huaneng Power International Inc (600011)?
Earnings per share at Huaneng Power International Inc are ¥0.5900 (price ÷ EPS = P/E 12.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Huaneng Power International Inc (600011)?
The dividend yield of Huaneng Power International Inc is 5.4% (payout 67.8%). 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 Huaneng Power International Inc (600011)?
The net margin of Huaneng Power International Inc is 5.2% (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 Huaneng Power International Inc (600011)?
The return on equity (ROE) of Huaneng Power International Inc is 7.8% (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 Huaneng Power International Inc (600011)?
On an EBIT basis the return on assets of Huaneng Power International Inc is 1.1% (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 Huaneng Power International Inc (600011)?
The operating margin of Huaneng Power International Inc is 10.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huaneng Power International Inc (600011)?
Revenue at Huaneng Power International Inc is growing −3.0% versus a year earlier (3y avg −2.5%). 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 Huaneng Power International Inc (600011)?
Earnings per share at Huaneng Power International Inc are growing −66.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Huaneng Power International Inc (600011) carry?
The net debt of Huaneng Power International Inc is 382B CNY (fiscal year 2025, ≈ 40.2 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 6, 2026