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Power Construction Corporation (601669) Fair Value & Analysis

Industrials · CN · Market cap 81.1B CNY

PC Power Construction Corporation 601669 · SHG
Price¥4.81
Fair Value¥11.19
Upside+132.6%
Quality39/100
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Expensive Growth
Thin margins · 1.4% net margin
High debt · negative free cash flow
2.25% dividend yield
Mixed vs. peers (6/13)
Narrow moat 29/100
Evidence: Medium Range ¥7.41 – ¥14.55 Share as image

Fair value as of: Jul 19, 2026

From 16 valuation models · updated 19 days ago

Share price +4.0% over the past month.

Below-average quality, screening 133% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (¥7.41). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (¥7.41 to ¥14.55) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥9.36 ¥3.57 Fair Value ¥11.19 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range ¥3.57 – ¥9.36 · fair‑value band ¥7.41 – ¥14.55 · the ¥4.81 price screens below the ¥11.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Power Construction Corporation (601669) currently trades at ¥4.81, while our model-based Fair Value estimate is ¥11.19, implying the stock looks roughly 132.6% undervalued today. We read business quality at 39/100 (below-average quality), in the Industrials 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, Power Construction Corporation generated revenue of 648B CNY at a net margin of 1.4%. Revenue grew 1.7% year over year. It earns a return on equity of 4.4%. Net debt stands at 337B CNY. Fundamentals as of Jul 19, 2026

Our scenario range runs from ¥7.41 (bear case) to ¥14.55 (bull case); at ¥4.81, the current price sits below 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 39% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 133%, 601669 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
Residual Income ¥7.74 ¥8.06 ¥8.22 76
ROIC Compounder ¥0.6200 ¥3.42 ¥5.86 72
Gordon GGM ¥9.97 ¥20.72 ¥32.87 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.95 ¥18.72 ¥25.75 54
Lynch FV ¥4.97 ¥7.10 ¥9.24 50
PEG = 1.0 ¥4.97 ¥7.10 ¥9.24 46
EPV ¥0.6200 ¥3.42 ¥5.86 59
Dividend Discount
Gordon GGM ¥9.97 ¥20.72 ¥32.87 70
DDM Multi-Stage ¥9.97 ¥17.47 ¥21.75 61
Multiples
P/E Multiple ¥8.71 ¥11.62 ¥14.52 63
P/S Multiple ¥7.41 ¥9.88 ¥12.34 58
P/B Multiple ¥7.41 ¥9.88 ¥12.34 55
EV/EBIT ¥10.53 ¥19.42 ¥28.31 53
EV/EBITDA ¥15.69 ¥26.31 ¥36.92 54
EV/Revenue ¥1.83 ¥9.54 ¥17.25 43
Asset-Based
NCAV (Graham) ¥4.86 ¥6.51 ¥9.72 50
Economic Profit
Residual Income ¥7.74 ¥8.06 ¥8.22 76
ROIC Compounder ¥0.6200 ¥3.42 ¥5.86 72
Growth Earnings
Growth-Adj P/E ¥7.63 ¥10.90 ¥14.17 68

Widest divergence: Dividend Discount (¥17.47) versus Economic Profit (¥3.42). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 648B CNY
Revenue growth (YoY) +1.7%
Net margin 1.4%
Return on equity 4.4%
Free cash flow −13.6B CNY FY2025
P/E ratio 10.7
More key figures
Operating margin 4.4%
EPS (TTM) ¥0.4900
Dividend yield 2.1%
EPS growth (YoY) -23.9%
Net debt 337B CNY FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 37

Profitability 22
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 77
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

Power Construction Corporation of China, Ltd, together with its subsidiaries, engages in the power construction business in China and internationally. It constructs solar, wind, hydro, pumped storage hydropower, nuclear, thermal, transmission, biomass, hydrogen, and other power plants; and railway, highway, urban rail transit, airport, and port.

Full company description

Power Construction Corporation of China, Ltd, together with its subsidiaries, engages in the power construction business in China and internationally. It constructs solar, wind, hydro, pumped storage hydropower, nuclear, thermal, transmission, biomass, hydrogen, and other power plants; and railway, highway, urban rail transit, airport, and port. The company also offers building design, construction, and investment; water conservancy, wastewater and solid waste disposal, and water environmental management; investment and financing; planning design; engineering construction; equipment manufacturing; and operation management. In addition, it is involved in survey and design; monetary financial and capital investment services; water pollution treatment; project investment, construction, and operation; software and information technology services; and insurance broker. The company was founded in 2011 and is headquartered in Beijing, China. Power Construction Corporation of China, Ltd operates as a subsidiary of Power Construction Corporation of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Power Construction Corporation reported revenue of ¥646B in FY2025 versus ¥565B in FY2021, a compound +3.4%/yr. Reported net income was ¥10.0B in FY2025, compounding +0.4%/yr from FY2021.

Growth Quality 49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
646B CNY
Latest YoY
+2.0%
Avg. growth/yr (3Y)
+4.2%
Avg. growth/yr (5Y)
+10.0%
Avg. growth/yr (18Y)
+15.2%
Revenue +3.4%/yr
FY21 ¥565B
FY22 ¥572B
FY23 ¥609B
FY24 ¥634B
FY25 ¥646B
Net income +0.4%/yr
FY21 ¥9.9B
FY22 ¥11.4B
FY23 ¥12.9B
FY24 ¥12.0B
FY25 ¥10.0B

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Cite: Fair Value Calculator (2026). "Power Construction Corporation Fair Value". https://www.fairvalue-calculator.com/stock/601669

Peer Group

Engineering & Construction · 831 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 39 · Below median
Fair Value upside +133% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 2% · Below median
Dividend yield (TTM) 2.3% · Above median
Debt / equity 2.43× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than 75% of peers
P/B 0.48× · Cheaper than median
P/S (TTM) 0.13× · Cheaper than 75% of peers
EV/EBITDA 7.0× · 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 100 · sector 17
FUTURE 9 · sector 17
PAST 18 · sector 26
HEALTH 0 · sector 94
DIVIDEND 45 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹102.36 ₹48.22 -53%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Power Construction Corporation (601669) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of ¥11.19 versus a price of ¥4.81, about +133% (undervalued).
What is the fair value of 601669?
Our model-based fair value for Power Construction Corporation is ¥11.19 (as of Jul 19, 2026), built from audited fundamentals. The current price is ¥4.81.
What is the quality score of 601669?
Power Construction Corporation has a Quality Score of 39/100. 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 Power Construction Corporation (601669)?
Power Construction Corporation reported trailing-twelve-month revenue of about 648B CNY (latest available figure, as of Jul 19, 2026).
What is the net profit margin of 601669?
The net profit margin of Power Construction Corporation is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. Based on the latest reported figures.
Does Power Construction Corporation pay a dividend?
Power Construction Corporation currently shows a dividend yield of about 2.05% relative to its recent price (as of Jul 19, 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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