Spic Yuanda Environmental Protection Co Ltd (600292) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Spic Yuanda Environmental Protection Co Ltd stock ¥1.80, price ¥10.24, upside -82.4%, quality 29 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Spic Yuanda Environmental Protection Co Ltd
600292 · SHGWeakest SetupStrongly overvalued and low quality.
Our calculation puts a fair price 82% below what the stock costs today.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range ¥4.26 – ¥18.00 · fair‑value band ¥1.34 – ¥2.68 · the ¥10.24 price screens above the ¥1.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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Company profile
SPIC Hydropower Co., Ltd. provides energy- saving and environmental protection services in China and internationally. It operates through Franchise; Environmental Engineering and Services; Catalysts; Sewage Treatment; and Energy Saving and Others segments.
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The company is involved in the desulfurization, denitrification, and dust removal general contracting; desulfurization and denitrification franchise; denitrification catalytic; and in water engineering businesses.
It also provides waste gas, wastewater, and solid waste treatment services; and research and development, transfer, and consulting services of energy-saving and environmental protection technologies.
In addition, the company manufactures and sells energy-saving and environmental protection products, as well as invests in energy conservation and emission reduction projects.
Further, it engages in air and water pollution control; solid and hazardous waste treatment and disposal; mine and soil remediation; and energy businesses, such as new energy and integrated smart energy.
The company was formerly known as Spic Yuanda Environmental-Protection Co.,Ltd. and changed its name to SPIC Hydropower Co., Ltd. in January 2026. SPIC Hydropower Co., Ltd. was founded in 1994 and is based in Chongqing, China.
Stock analysis
Spic Yuanda Environmental Protection Co Ltd (600292) currently trades at ¥10.24, while our model-based Fair Value estimate is ¥1.80, 82.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ¥2.58 per share, and 1 of the 22 models we run sit above the ¥10.24 price.
Bear case: the Growth DCF group reads lowest at ¥1.35, and 21 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥1.34 (bear) to ¥2.68 (bull), the price of ¥10.24 sits above 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 29/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Spic Yuanda Environmental Protection Co Ltd reported revenue of 12.2B CNY in FY2025 versus 4.4B CNY in FY2021, a compound +28.6%/yr. Reported net income was 532M CNY in FY2025, compounding +76.0%/yr from FY2021.
Key figures
Market cap 49.4B CNY (≈ $7.4B) Mid · P/E ratio 27.7 · P/S ratio 1.21 · EPS (TTM) ¥0.3700 · Dividend yield 0.6% · Net margin 4.4% · Return on equity 10.0% · Return on assets (EBIT) 1.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
The share trades about 39% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at −82%, 600292 screens richer than that median.
Fair Value models
All 25 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
600292 screens overvalued: fair value 82% below the price. Compare with NextEra Energy, Inc →
Compare Spic Yuanda Environmental Protection Co Ltd with another stock
Price, fair value, quality and upside side by side.
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 - Regulated Electric · 157 stocks
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| PG&E Corporation PCG | $13.15 | $17.85 | +36% | vs 600292 |
| Exelon Corporation EXC | $43.05 | $36.01 | −16% | vs 600292 |
| American Electric Power Company AEP | $127.39 | $100.03 | −21% | vs 600292 |
| Xcel Energy Inc XEL | $76.78 | $54.92 | −28% | vs 600292 |
| The Southern Company SO | $90.39 | $57.57 | −36% | vs 600292 |
| Duke Energy Corporation DUK | $120.67 | $75.79 | −37% | vs 600292 |
| Dominion Energy, Inc D | $62.33 | $37.88 | −39% | vs 600292 |
| Consolidated Edison, Inc ED | $111.82 | $47.76 | −57% | vs 600292 |
| NextEra Energy, Inc NEE | $78.86 | $29.99 | −62% | vs 600292 |
| Entergy Corporation ETR | $106.08 | $37.37 | −65% | vs 600292 |
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Key figures of Spic Yuanda Environmental Protection Co Ltd
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