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SDIC Power Holdings (600886) Fair Value & Analysis

Utilities · CN · Market cap 111B CNY

SP SDIC Power Holdings 600886 · SHG
Price¥14.88
Fair Value¥16.63
Upside+11.8%
Quality52/100
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Expensive Growth
Solidly profitable · 14.2% net margin
High debt · generates free cash flow
3.70% dividend yield
Ranks above peers (10/15)
Moderate moat 62/100
Evidence: Medium Range ¥8.35 – ¥20.78 Share as image

Fair value as of: Jul 15, 2026

From 25 valuation models · updated 23 days ago

Share price +10.6% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • A fairly wide model range (¥8.35 to ¥20.78) leaves room in how you read the outcome.
  • Our model range runs from ¥8.35 (bear) to ¥20.78 (bull), base ¥16.63. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 52/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥17.93 ¥7.32 Fair Value ¥16.63 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range ¥7.32 – ¥17.93 · fair‑value band ¥8.35 – ¥20.78 · the ¥14.88 price screens below the ¥16.63 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

SDIC Power Holdings (600886) currently trades at ¥14.88, while our model-based Fair Value estimate is ¥16.63, implying the stock looks roughly 11.8% undervalued today. We read business quality at 52/100 (solid quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, SDIC Power Holdings generated revenue of 52.4B CNY at a net margin of 14.2%. Revenue declined 4.6% year over year. It earns a return on equity of 10.9%. Net debt stands at 118B CNY. Fundamentals as of Jul 15, 2026

Our scenario range runs from ¥8.35 (bear case) to ¥20.78 (bull case); at ¥14.88, 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 5% below its 52-week high and 17% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at 12%, 600886 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥4.80 ¥19.23 ¥44.77 80
Residual Income ¥8.08 ¥8.96 ¥12.72 76
Rev-Margin DCF ¥1.21 ¥11.40 ¥25.21 74
All 25 models by family
DCF Models
FCF DCF ¥5.14 ¥21.32 ¥51.72 38
5Y Revenue Exit ¥1.21 ¥11.70 ¥26.24 39
5Y EBITDA Exit ¥15.84 ¥43.23 ¥79.15 41
5Y P/E Exit ¥2.14 ¥13.71 ¥27.35 38
10Y Revenue Exit ¥1.94 ¥12.60 ¥29.65 36
10Y EBITDA Exit ¥12.24 ¥36.30 ¥75.91 37
10Y P/E Exit ¥2.99 ¥14.11 ¥30.63 35
Earnings-Based
Graham-Dodd ¥6.28 ¥33.67 ¥46.65 54
Lynch FV ¥9.30 ¥13.29 ¥17.28 50
PEG = 1.0 ¥9.30 ¥13.29 ¥17.28 46
EPV ¥5.03 ¥7.91 ¥10.42 59
Dividend Discount
Gordon GGM ¥9.04 ¥18.80 ¥29.82 70
DDM Multi-Stage ¥9.04 ¥15.85 ¥19.73 61
Multiples
P/E Multiple ¥13.85 ¥18.47 ¥23.09 63
P/S Multiple ¥11.78 ¥15.70 ¥19.63 58
P/B Multiple ¥11.78 ¥15.70 ¥19.63 55
EV/EBIT ¥18.44 ¥28.65 ¥38.87 53
EV/EBITDA ¥22.73 ¥34.37 ¥46.01 54
EV/Revenue ¥4.35 ¥9.32 43
Asset-Based
NCAV (Graham) ¥4.54 ¥6.08 ¥9.08 50
Growth DCF
Growth DCF ¥4.80 ¥19.23 ¥44.77 80
Rev-Margin DCF ¥1.21 ¥11.40 ¥25.21 74
Economic Profit
Residual Income ¥8.08 ¥8.96 ¥12.72 76
ROIC Compounder ¥5.03 ¥7.91 ¥12.35 72
Growth Earnings
Growth-Adj P/E ¥13.36 ¥19.09 ¥24.81 68

Widest divergence: Growth Earnings (¥19.09) versus Asset-Based (¥6.08). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 52.4B CNY
Revenue growth (YoY) -4.6%
Net margin 14.2%
Return on equity 10.9%
Free cash flow 10.1B CNY FY2025
P/E ratio 15.1
More key figures
Operating margin 38.6%
EPS (TTM) ¥0.9100
Dividend yield 3.6%
EPS growth (YoY) -2.7%
Net debt 118B CNY FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 42 · Market factors (momentum, volatility) 63

Profitability 30
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 47
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

SDIC Power Holdings Co., Ltd. engages in the electricity generation business in China. The company generates electricity through hydropower, thermal power, solar power, onshore wind power, offshore wind power, energy storage, and electricity sales.

Full company description

SDIC Power Holdings Co., Ltd. engages in the electricity generation business in China. The company generates electricity through hydropower, thermal power, solar power, onshore wind power, offshore wind power, energy storage, and electricity sales. It generates electricity with an installed capacity of 44.6347 GW, including 21.3045 GW of hydropower; 13,074.8 MW of thermal power; 4,140.3 MW of wind power; 7,689.4 MW of solar power; and 686.6 MW of energy storage. The company was founded in 1989 and is based in Beijing, China. SDIC Power Holdings Co., Ltd. operates as a subsidiary of State Development & Investment Corp., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SDIC Power Holdings reported revenue of ¥53.0B in FY2025 versus ¥43.8B in FY2021, a compound +4.9%/yr. Reported net income was ¥7.4B in FY2025, compounding +31.7%/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)
53.0B CNY
Latest YoY
−8.3%
Avg. growth/yr (3Y)
+1.6%
Avg. growth/yr (5Y)
+6.2%
Avg. growth/yr (33Y)
+26.3%
Revenue +4.9%/yr
FY21 ¥43.8B
FY22 ¥50.5B
FY23 ¥56.7B
FY24 ¥57.8B
FY25 ¥53.0B
Net income +31.7%/yr
FY21 ¥2.5B
FY22 ¥4.1B
FY23 ¥6.7B
FY24 ¥6.6B
FY25 ¥7.4B

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Cite: Fair Value Calculator (2026). "SDIC Power Holdings Fair Value". https://www.fairvalue-calculator.com/stock/600886

Peer Group

Utilities - Renewable · 213 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 52 · Top 25%
Fair Value upside +12% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 14% · Above median
Operating margin (TTM) 39% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 3.7% · Above median
Debt / equity 1.66× · Higher than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 15.2× · Cheaper than median
P/B 1.53× · Pricier than median
P/S (TTM) 2.11× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 7.4× · Cheaper than median
PEG 3.38× · Pricier than 75% of peers

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 49 · sector 16
FUTURE 0 · sector 0
PAST 43 · sector 14
HEALTH 17 · sector 67
DIVIDEND 74 · sector 51

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 Jul 15, 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 SDIC Power Holdings (600886) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of ¥16.63 versus a price of ¥14.88, about +12% (undervalued).
What is the fair value of 600886?
Our model-based fair value for SDIC Power Holdings is ¥16.63 (as of Jul 15, 2026), built from audited fundamentals. The current price is ¥14.88.
What is the quality score of 600886?
SDIC Power Holdings has a Quality Score of 52/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of SDIC Power Holdings (600886)?
SDIC Power Holdings reported trailing-twelve-month revenue of about 52.4B CNY (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 600886?
The net profit margin of SDIC Power Holdings is about 14.2%, meaning it keeps roughly 14.2% of revenue as net income. Based on the latest reported figures.
Does SDIC Power Holdings pay a dividend?
SDIC Power Holdings currently shows a dividend yield of about 3.62% relative to its recent price (as of Jul 15, 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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