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NYOCOR Co (600821) Fair Value & Analysis

Utilities · CN · Market cap 12.9B CNY

NC NYOCOR Co 600821 · SHG
Price¥6.58
Fair Value¥1.13
Upside-82.8%
Quality35/100
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Expensive Growth
Loss-making · -1.2% net margin
High debt · generates free cash flow
3.09% dividend yield
Mixed vs. peers (6/13)
Narrow moat 42/100
Evidence: Medium Range ¥0.8500 – ¥1.42 Share as image

Fair value as of: Aug 8, 2026

From 13 valuation models · updated 2 days ago

Share price +18.3% over the past month.

Below-average quality, and screening another 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.42). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥12.07 ¥3.86 Fair Value ¥1.13 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥3.86 – ¥12.07 · fair‑value band ¥0.8500 – ¥1.42 · the ¥6.58 price screens above the ¥1.13 fair value. Dashed = 300-day average. As of Aug 8, 2026.

Full chart & analysis →

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Analysis

NYOCOR Co (600821) currently trades at ¥6.58, while our model-based Fair Value estimate is ¥1.13, implying the stock looks roughly 82.8% overvalued today. The Quality Score stands at 35/100 (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, NYOCOR Co generated revenue of 3.3B CNY at a net margin of -1.2%. Revenue declined 12.4% year over year. It earns a return on equity of -0.4%. Net debt stands at 21.9B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥0.8500 (bear case) to ¥1.42 (bull case); at ¥6.58, the current price sits above 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 46% below its 52-week high and 29% 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 -83%, 600821 screens richer 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥3.15 ¥2.92 ¥2.16 76
Growth-Adj P/E ¥0.6200 ¥0.8800 ¥1.15 68
P/E Multiple ¥0.8500 ¥1.13 ¥1.42 63
All 13 models by family
DCF Models
5Y EBITDA Exit ¥5.81 ¥15.42 41
10Y EBITDA Exit ¥2.40 ¥11.76 37
Earnings-Based
Graham-Dodd ¥0.3500 ¥1.36 ¥1.85 54
Lynch FV ¥0.3300 ¥0.4800 ¥0.6200 50
PEG = 1.0 ¥0.3300 ¥0.4800 ¥0.6200 46
Multiples
P/E Multiple ¥0.8500 ¥1.13 ¥1.42 63
P/S Multiple ¥0.6600 ¥0.8700 ¥1.09 58
P/B Multiple ¥0.6600 ¥0.8700 ¥1.09 55
EV/EBIT ¥2.21 ¥5.54 53
EV/EBITDA ¥1.96 ¥6.32 ¥10.68 54
Asset-Based
NCAV (Graham) ¥2.30 ¥3.08 ¥4.59 50
Economic Profit
Residual Income ¥3.15 ¥2.92 ¥2.16 76
Growth Earnings
Growth-Adj P/E ¥0.6200 ¥0.8800 ¥1.15 68

Widest divergence: Asset-Based (¥3.08) versus Earnings-Based (¥0.4800). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.3B CNY
Revenue growth (YoY) -12.4%
Net margin -1.2%
Return on equity -0.4%
Free cash flow 589M CNY FY2025
Operating margin 33.1%
More key figures
EPS (TTM) ¥-0.0200
Dividend yield 3.1%
EPS growth (YoY) -48.2%
Net debt 21.9B CNY FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 34 · Market factors (momentum, volatility) 42

Profitability 14
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 34
Buybacks instead of dilution

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

NYOCOR Co., Ltd. engages in the development, investment, construction, and operation of energy power plants in China. It operates photovoltaic and wind power generation plants. The company is also involved in energy storage, hydrogen energy, and smart energy businesses.

Full company description

NYOCOR Co., Ltd. engages in the development, investment, construction, and operation of energy power plants in China. It operates photovoltaic and wind power generation plants. The company is also involved in energy storage, hydrogen energy, and smart energy businesses. It operates an approved installed capacity of 7,468 megawatts; and a grid-connected capacity of 5,554 megawatts. The company was formerly known as Tianjin Quanyechang (Group) Co., Ltd. The company was founded in 1997 and is based in Beijing, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NYOCOR Co reported revenue of ¥3.5B in FY2025 versus ¥2.0B in FY2021, a compound +15.2%/yr. Reported net income was ¥101M in FY2025, compounding −32.2%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.5B CNY
Latest YoY
−4.4%
Avg. growth/yr (3Y)
+3.8%
Avg. growth/yr (5Y)
+20.5%
Avg. growth/yr (31Y)
+5.2%
Revenue +15.2%/yr
FY21 ¥2.0B
FY22 ¥3.1B
FY23 ¥3.3B
FY24 ¥3.6B
FY25 ¥3.5B
Net income −32.2%/yr
FY21 ¥481M
FY22 ¥732M
FY23 ¥802M
FY24 ¥803M
FY25 ¥101M

600821 screens 83% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "NYOCOR Co Fair Value". https://www.fairvalue-calculator.com/stock/600821

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.

Quality Score 35 · Below median
Fair Value upside −83% · Bottom 25%
Return on assets 2% · Above median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth -12% · Below median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 2.53× · Higher than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.57× · Cheaper than 75% of peers
P/FCF 3.3× · Pricier than median
EV/EBITDA 8.8× · Cheaper than median

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.

VALUE 0 · sector 15
FUTURE 0 · sector 0
PAST 0 · sector 12
HEALTH 0 · sector 68
DIVIDEND 62 · sector 48

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

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

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 8, 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

Is NYOCOR Co (600821) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥1.13 versus a price of ¥6.58, about −83% (overvalued).
What is the fair value of 600821?
Our model-based fair value for NYOCOR Co is ¥1.13 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥6.58.
What is the quality score of 600821?
NYOCOR Co has a Quality Score of 35/100. 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 revenue of NYOCOR Co (600821)?
NYOCOR Co reported trailing-twelve-month revenue of about 3.3B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600821?
The net profit margin of NYOCOR Co is about -1.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does NYOCOR Co pay a dividend?
NYOCOR Co currently shows a dividend yield of about 3.13% relative to its recent price (as of Aug 8, 2026).

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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