Shanghai Electric Power Co (600021) Fair Value & Analysis
Utilities · CN · Market cap 42.1B CNY
Fair value as of: Aug 6, 2026
From 16 valuation models · updated 4 days ago
Share price +8.1% over the past month.
Below-average quality, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- Our model range runs from ¥10.09 (bear) to ¥18.01 (bull), base ¥13.86. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 40/100 (below-average quality) with medium evidence: read the verdict with care.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.
How to read this chart
60‑month range ¥6.65 – ¥30.19 · fair‑value band ¥10.09 – ¥18.01 · the ¥14.87 price screens above the ¥13.86 fair value. Dashed = 300-day average. As of Aug 6, 2026.
Analysis
Shanghai Electric Power Co (600021) currently trades at ¥14.87, while our model-based Fair Value estimate is ¥13.86, implying the stock looks roughly 6.8% fairly valued today. The Quality Score stands at 40/100 (below-average quality), in the Utilities 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: medium).
Over the trailing twelve months, Shanghai Electric Power Co generated revenue of 41.3B CNY at a net margin of 6.1%. Revenue declined 5.0% year over year. It earns a return on equity of 8.0%. Net debt stands at 81.9B CNY. Fundamentals as of Aug 6, 2026
Our scenario range runs from ¥10.09 (bear case) to ¥18.01 (bull case); at ¥14.87, the current price sits within 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 53% below its 52-week high and 73% 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 -7%, 600021 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.
All 16 models by family
Widest divergence: Dividend Discount (¥24.64) versus Economic Profit (¥6.73). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 45
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
Shanghai Electric Power Co., Ltd. engages in the integration of clean energy, new energy, smart energy technology research and development and application, modern energy supply, and services in China and internationally.
Full company description
Shanghai Electric Power Co., Ltd. engages in the integration of clean energy, new energy, smart energy technology research and development and application, modern energy supply, and services in China and internationally. It is involved in photovoltaic, wind, gas electric, and thermal power generation and heating; thermal electricity generation; trading of electricity; research and development; technology development; and investment management activities. The company also provides electrical power consulting and power technical services; power supply and engineering construction services; and technology promotion and application services. Shanghai Electric Power Co., Ltd. was founded in 1882 and is based in Hangzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai Electric Power Co reported revenue of ¥41.9B in FY2025 versus ¥30.8B in FY2021, a compound +7.9%/yr. Reported net income was ¥2.8B in FY2025.
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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.
Valuation Multiples vs Utilities - Renewable median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 6, 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
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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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