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Datang International Power Generation Co (601991) Fair Value & Analysis

Utilities · CN · Market cap 107B CNY

DI Datang International Power Generation Co 601991 · SHG
Price¥6.25
Fair Value¥4.95
Upside-20.8%
Quality58/100
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Expensive Growth
Thin margins · 6.6% net margin
High debt · generates free cash flow
2.60% dividend yield
Mixed vs. peers (8/15)
Moderate moat 46/100
Evidence: Medium Range ¥2.77 – ¥8.48 Share as image

Fair value as of: Jul 17, 2026

From 25 valuation models · updated 21 days ago

Fair value updated Jul 17, 2026, revised from ¥4.79 to ¥4.95 (+3.3%) since Jul 5, 2026. Share price −10.7% over the past month.

A solid business, but screening 21% overvalued on our models.

What matters now

  • The model range is unusually wide (¥2.77 to ¥8.48). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥9.18 ¥2.14 Fair Value ¥4.95 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ¥2.14 – ¥9.18 · fair‑value band ¥2.77 – ¥8.48 · the ¥6.25 price screens above the ¥4.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Datang International Power Generation Co (601991) currently trades at ¥6.25, while our model-based Fair Value estimate is ¥4.95, implying the stock looks roughly 20.8% overvalued today. We read business quality at 58/100 (solid 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, Datang International Power Generation Co generated revenue of 121B CNY at a net margin of 6.6%. Revenue grew 0.2% year over year. It earns a return on equity of 10.7%. Net debt stands at 238B CNY. Fundamentals as of Jul 17, 2026

Our scenario range runs from ¥2.77 (bear case) to ¥8.48 (bull case); at ¥6.25, 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 37% below its 52-week high and 99% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -59% fair-value upside, at -21%, 601991 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 ¥1.36 ¥4.88 ¥9.91 80
Residual Income ¥2.61 ¥3.48 ¥15.38 76
Rev-Margin DCF ¥1.62 ¥6.32 ¥11.69 74
All 25 models by family
DCF Models
FCF DCF ¥1.22 ¥5.19 ¥11.21 38
5Y Revenue Exit ¥1.62 ¥6.33 ¥12.32 39
5Y EBITDA Exit ¥6.54 ¥15.49 ¥25.95 41
5Y P/E Exit ¥3.25 ¥6.64 38
10Y Revenue Exit ¥1.16 ¥5.42 ¥11.10 36
10Y EBITDA Exit ¥4.54 ¥11.76 ¥21.47 37
10Y P/E Exit ¥0.3600 ¥3.28 ¥6.78 35
Earnings-Based
Graham-Dodd ¥2.71 ¥8.27 ¥10.97 54
Lynch FV ¥1.77 ¥2.53 ¥3.29 50
PEG = 1.0 ¥1.77 ¥2.53 ¥3.29 46
EPV ¥1.16 ¥2.36 ¥3.41 59
Dividend Discount
Gordon GGM ¥1.08 ¥2.24 ¥3.55 70
DDM Multi-Stage ¥1.08 ¥1.76 ¥2.35 61
Multiples
P/E Multiple ¥5.99 ¥7.98 ¥9.98 63
P/S Multiple ¥5.09 ¥6.78 ¥8.48 58
P/B Multiple ¥4.14 ¥5.52 ¥6.90 55
EV/EBIT ¥6.22 ¥10.31 ¥14.39 53
EV/EBITDA ¥11.33 ¥17.12 ¥22.90 54
EV/Revenue ¥2.23 ¥5.77 ¥9.31 43
Asset-Based
NCAV (Graham) ¥0.9200 ¥1.23 ¥1.84 50
Growth DCF
Growth DCF ¥1.36 ¥4.88 ¥9.91 80
Rev-Margin DCF ¥1.62 ¥6.32 ¥11.69 74
Economic Profit
Residual Income ¥2.61 ¥3.48 ¥15.38 76
ROIC Compounder ¥1.16 ¥2.67 ¥4.92 72
Growth Earnings
Growth-Adj P/E ¥4.94 ¥7.06 ¥9.17 68

Widest divergence: Growth Earnings (¥7.06) versus Asset-Based (¥1.23). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 121B CNY
Revenue growth (YoY) +0.2%
Net margin 6.6%
Return on equity 10.7%
Free cash flow 11.9B CNY FY2025
P/E ratio 16.1
More key figures
Operating margin 16.7%
EPS (TTM) ¥0.3600
Dividend yield 2.6%
EPS growth (YoY) +40.2%
Net debt 238B CNY FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 47 · Market factors (momentum, volatility) 77

Profitability 34
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 82
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

Datang International Power Generation Co., Ltd., together with its subsidiaries, engages in power generation business in the People's Republic of China. It operates in Power and Heat Generation, and Other segments. The company generates electricity through various sources, such as coal-fired, thermal, hydro, wind, nuclear, and solar.

Full company description

Datang International Power Generation Co., Ltd., together with its subsidiaries, engages in power generation business in the People's Republic of China. It operates in Power and Heat Generation, and Other segments. The company generates electricity through various sources, such as coal-fired, thermal, hydro, wind, nuclear, and solar. It also engages in the supply of heat; trading and cargo shipping businesses; production and sale of alumina; sale of coal ash and integrated application of solid wastes; wholesale and trading of coal; and power and heat trading activities. The company was formerly known as Beijing Datang Power Generation Co., Ltd and changed its name to Datang International Power Generation Co., Ltd. in April 2004. Datang International Power Generation Co., Ltd. was incorporated in 1994 and is based in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Datang International Power Generation Co reported revenue of ¥121B in FY2025 versus ¥104B in FY2021, a compound +3.9%/yr. Reported net income was ¥7.4B in FY2025.

Growth Quality 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
121B CNY
Latest YoY
−2.2%
Avg. growth/yr (3Y)
+1.1%
Avg. growth/yr (5Y)
+4.8%
Avg. growth/yr (23Y)
+1.8%
Revenue +3.9%/yr
FY21 ¥104B
FY22 ¥117B
FY23 ¥122B
FY24 ¥123B
FY25 ¥121B
Net income
FY21 −¥9.1B
FY22 −¥408M
FY23 ¥1.4B
FY24 ¥4.5B
FY25 ¥7.4B

601991 screens 21% overvalued. Compare with Constellation Energy Corporation →

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Cite: Fair Value Calculator (2026). "Datang International Power Generation Co Fair Value". https://www.fairvalue-calculator.com/stock/601991

Peer Group

Utilities - Independent Power Producers · 79 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 58 · Top 25%
Fair Value upside −21% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 7% · Below median
Operating margin (TTM) 17% · Above median
Revenue growth 0% · Above median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 3.55× · Higher than 75% of peers

Valuation Multiples vs Utilities - Independent Power Producers median · lower = cheaper

P/E (TTM) 16.1× · Pricier than median
P/B 3.15× · Pricier than 75% of peers
P/S (TTM) 0.89× · Cheaper than median
P/FCF 1.3× · Pricier than median
EV/EBITDA 6.5× · Cheaper than median
PEG 3.12× · 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 6 · sector 23
FUTURE 1 · sector 0
PAST 43 · sector 31
HEALTH 0 · sector 71
DIVIDEND 52 · sector 48

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 - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Constellation Energy Corporation CEG $257.57 $89.08 -65%
Vistra Corp VST $158.86 $47.59 -70%
Adani Power Limited ADANIPOWER ₹218.45 ₹75.57 -65%
CGN Power Co 003816 ¥3.88 ¥3.13 -19%
NRG Energy, Inc NRG $137.90 $56.02 -59%
Gulf Development Public Company GULF 67.50 THB 40.44 THB -40%
Adani Energy Solutions Limited ADANIENSOL ₹1,730 ₹342.02 -80%
Talen Energy Corporation TLN $372.37 $44.67 -88%
Power Assets Holdings 0006 HK$58.45 HK$31.90 -45%
Huaneng Power International, Inc 600011 ¥6.75 ¥10.46 +55%

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Frequently asked questions

Is Datang International Power Generation Co (601991) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ¥4.95 versus a price of ¥6.25, about −21% (overvalued).
What is the fair value of 601991?
Our model-based fair value for Datang International Power Generation Co is ¥4.95 (as of Jul 17, 2026), built from audited fundamentals. The current price is ¥6.25.
What is the quality score of 601991?
Datang International Power Generation Co has a Quality Score of 58/100. 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 Datang International Power Generation Co (601991)?
Datang International Power Generation Co reported trailing-twelve-month revenue of about 121B CNY (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 601991?
The net profit margin of Datang International Power Generation Co is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Datang International Power Generation Co pay a dividend?
Datang International Power Generation Co currently shows a dividend yield of about 1.68% relative to its recent price (as of Jul 17, 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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