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Dalian Thermal Power Co Ltd (600719) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Dalian Thermal Power Co Ltd ¥1.73, price ¥7.59, upside -77.2%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · CN · ISIN CNE000000L57

DT Some data Sep 24, 2026

Dalian Thermal Power Co Ltd

600719 · SHG

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥1.73 · Strongly overvalued (−77%)
!Quality 37/100
!Weak Growth (revenue 5y −2.1 %/yr)
!Loss-making · -9.9% net margin (TTM)
!High debt · negative free cash flow
!Trails peers (4/12)
!Narrow moat 30/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥11.78 ¥3.16 Fair Value ¥1.73 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥3.16 – ¥11.78 · fair‑value band ¥1.49 – ¥1.73 · the ¥7.59 price screens above the ¥1.73 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Dalian Thermal Power Co.,Ltd. engages in the cogeneration and central heating business in China. The company produces hot water through coal-fired boilers to supply heat. It also provides combined heat and power for heating; and produces electricity, steam, and high-temperature water through power plants.

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Dalian Thermal Power Co.,Ltd. engages in the cogeneration and central heating business in China. The company produces hot water through coal-fired boilers to supply heat. It also provides combined heat and power for heating; and produces electricity, steam, and high-temperature water through power plants. In addition, the company purchases and sells industrial production materials; and the generation and sale of electricity. It provides its services to urban residents, enterprises, and institutions. Dalian Thermal Power Co.,Ltd. was incorporated in 1993 and is headquartered in Dalian, China.

Stock analysis

Dalian Thermal Power Co Ltd (600719) currently trades at ¥7.59, while our model-based Fair Value estimate is ¥1.73, implying the stock looks roughly 338.8% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ¥1.84 per share, and 0 of the 4 models we run sit above the ¥7.59 price.

Bear case: the Asset-Based group reads lowest at ¥0.5100, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥1.49 (bear) to ¥1.73 (bull), the price of ¥7.59 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 37/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Dalian Thermal Power Co Ltd reported revenue of 605M CNY in FY2025 versus 660M CNY in FY2021, a compound −2.1%/yr. Reported net income was −94.7M CNY in FY2025.

Key figures

Market cap 3.1B CNY (≈ $458M) · P/S ratio 5.13 · EPS (TTM) ¥−0.1400 · Dividend yield 2.5% · Net margin −15.7% · Return on equity −13.8% · Return on assets (EBIT) −2.2% · Operating margin 29.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 36% 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 −77%, 600719 screens richer than that median.

Fair Value models

Bear ¥1.49 Fair Value ¥1.73 Bull ¥1.73
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. 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.
Highest evidence
Gordon GGM ¥1.49 ¥1.73 ¥1.99 69
DDM Multi-Stage ¥1.49 ¥1.87 ¥2.30 67
EV/EBITDA ¥1.06 ¥1.84 ¥2.63 65
All 4 models by family
Dividend Discount
Gordon GGM ¥1.49 ¥1.73 ¥1.99 69
DDM Multi-Stage ¥1.49 ¥1.87 ¥2.30 67
Multiples
EV/EBITDA ¥1.06 ¥1.84 ¥2.63 65
Asset-Based
NCAV (Graham) ¥0.3800 ¥0.5100 ¥0.7600 54

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Quality Score breakdown

Overall quality 37/100

Of which business quality 31 · Market factors (momentum, volatility) 48

Profitability 4
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.8%
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.
−9.2%
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.
−2.1%
Start year 2020 (pandemic). Over 10 years: −1.2% a year
Revenue growth 32 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.
+4.9%
Profit margin (trend) 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.
2.4% (2020) → −3.7% (2025)
What shareholders gained per year We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

600719 screens 339% overvalued. Compare with Constellation Energy Corporation →

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Peer GroupHow 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 · 76 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Profitability
Return on assets 1% · Below median
Net margin (TTM) −10% · Bottom 25%
Operating margin (TTM) 30% · Top 25%
Growth and dividend
Revenue growth −1% · Above median
Dividend yield (TTM) 2.5% · Below median
Balance sheet
Debt / equity 2.14× · Highest 25%

Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper

P/B 1.49× · Pricier than median
P/S (TTM) 0.76× · Cheaper than median
EV/EBITDA 4.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 32
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 71
DIVIDEND (yield)50 · sector 61

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Constellation Energy Corporation CEG $263.46 $91.77 −65%
Vistra Corp VST $140.41 $21.07 −85%
Adani Power Limited ADANIPOWER ₹204.80 ₹75.57 −63%
CGN Power Co 003816 ¥4.20 ¥2.19 −48%
NRG Energy, Inc NRG $102.75 $74.17 −28%
Gulf Development Public Company GULF 62.25 THB 68.48 THB +10%
Adani Energy Solutions Limited ADANIENSOL ₹1,380 ₹342.02 −75%
Datang International Power Generation Co 601991 ¥5.57 ¥4.95 −11%
Huaneng Power International, Inc 600011 ¥6.80 ¥12.20 +79%
The Tata Power Company TATAPOWER ₹369.00 ₹175.12 −53%

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Cite: Fair Value Calculator (2026). "Dalian Thermal Power Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600719

Frequently asked questions

Is Dalian Thermal Power Co Ltd (600719) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥1.73 versus a price of ¥7.59, about −77% upside (overvalued).
What is the fair value of 600719?
Our model-based fair value for Dalian Thermal Power Co Ltd is ¥1.73 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥7.59.
What is the quality score of 600719?
Dalian Thermal Power Co Ltd has a Quality Score of 37/100. 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 Dalian Thermal Power Co Ltd (600719)?
Our model-based price target is the fair value of ¥1.73 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario ¥1.49, optimistic scenario ¥1.73. It is a calculation from audited fundamentals, not an analyst target.
What is the Dalian Thermal Power Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.73, about −77% upside versus a price of ¥7.59 (overvalued). Cautious scenario ¥1.49, optimistic scenario ¥1.73. The calculation is refreshed regularly with new filings.
What is the revenue of Dalian Thermal Power Co Ltd (600719)?
Dalian Thermal Power Co Ltd reported trailing-twelve-month revenue of about 603M CNY (latest available figure, as of Sep 24, 2026).
Does Dalian Thermal Power Co Ltd pay a dividend?
Dalian Thermal Power Co Ltd currently shows a dividend yield of about 2.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Dalian Thermal Power Co Ltd (600719)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dalian Thermal Power Co Ltd it is ¥1.73 per share (as of Sep 24, 2026), against a price of ¥7.59. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Dalian Thermal Power Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600719 trades above its calculated fair value: price ¥7.59, fair value ¥1.73, a gap of about −77% (overvalued). 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 600719?
No. The price is what the market pays today (¥7.59); the fair value is what the company's own numbers justify (¥1.73). For Dalian Thermal Power Co Ltd the two are ¥5.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dalian Thermal Power Co Ltd worth?
The market values Dalian Thermal Power Co Ltd at about 3.1B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥7.59; our models calculate a fair value of ¥1.73 per share.
What do the bullish and bearish scenarios say about 600719?
Our models span a range for Dalian Thermal Power Co Ltd: cautious scenario ¥1.49, base ¥1.73, optimistic ¥1.73 per share (as of Sep 24, 2026, price ¥7.59). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dalian Thermal Power Co Ltd (600719)?
Balance-sheet figures for Dalian Thermal Power Co Ltd (as of Sep 24, 2026): return on equity −13.8%, debt of 2.14 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 600719 from its 52-week high?
Dalian Thermal Power Co Ltd trades at ¥7.59, about 30% below its 52-week high of ¥10.83 and 36% above the low of ¥5.59 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.73 is for.
Which stocks are comparable to Dalian Thermal Power Co Ltd?
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 Dalian Thermal Power Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥7.59, calculated fair value ¥1.73 (−77%), Quality Score 37/100, from 4 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 600719 calculated?
We run Dalian Thermal Power Co Ltd through 4 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 ¥1.73, 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 14.1 % above its aggregate fair value. Dalian Thermal Power Co Ltd itself currently trades above fair value. 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 Dalian Thermal Power Co Ltd (600719)?
The closing price on Sep 23, 2026 was ¥7.59. Our model-based fair value is ¥1.73, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dalian Thermal Power Co Ltd right now?
The price sits above even our optimistic bull case (¥1.73). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Dalian Thermal Power Co Ltd

How large is the market capitalisation of Dalian Thermal Power Co Ltd (600719)?
The market capitalisation of Dalian Thermal Power Co Ltd is 3.1B CNY (≈ $458M). 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 Dalian Thermal Power Co Ltd (600719)?
The price-to-sales ratio of Dalian Thermal Power Co Ltd is 5.13 (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 Dalian Thermal Power Co Ltd (600719)?
Earnings per share at Dalian Thermal Power Co Ltd are ¥−0.1400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dalian Thermal Power Co Ltd (600719)?
The dividend yield of Dalian Thermal Power Co Ltd is 2.5%. 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 Dalian Thermal Power Co Ltd (600719)?
The net margin of Dalian Thermal Power Co Ltd is −15.7% (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 Dalian Thermal Power Co Ltd (600719)?
The return on equity (ROE) of Dalian Thermal Power Co Ltd is −13.8% (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 Dalian Thermal Power Co Ltd (600719)?
On an EBIT basis the return on assets of Dalian Thermal Power Co Ltd is −2.2% (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 Dalian Thermal Power Co Ltd (600719)?
The operating margin of Dalian Thermal Power Co Ltd is 29.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dalian Thermal Power Co Ltd (600719)?
Revenue at Dalian Thermal Power Co Ltd is growing −0.6% versus a year earlier (3y avg −9.2%). 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 Dalian Thermal Power Co Ltd (600719)?
Earnings per share at Dalian Thermal Power Co Ltd are growing +58.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Dalian Thermal Power Co Ltd (600719) generate?
The free cash flow of Dalian Thermal Power Co Ltd is −79.8M CNY (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 Dalian Thermal Power Co Ltd (600719) carry?
The net debt of Dalian Thermal Power Co Ltd is 1.5B CNY (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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