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Hokuriku Electric Power Company (6HO) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Hokuriku Electric Power Company €13.45, price €6.10, upside +120.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Utilities · DE · Home Japan · ISIN JP3845400005

In Frankfurt, only 0 of the last 21 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.

HE Broad data Sep 30, 2026

Hokuriku Electric Power Company

6HO · F

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value €13.45 · Strongly undervalued (+120.5%)
!Quality 52/100
!Weak Growth (revenue 3y −1.3 %/yr)
!Thin margins · 6.1% net margin (TTM)
!High debt · generates free cash flow
✓2.1% dividend yield · Well covered
✓Ranks above peers (9/14)
!Moderate moat 45/100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

€6.46 €2.79 Fair Value €13.45 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.

How to read this chart

60‑month range €2.79 – €6.46 · fair‑value band €9.91 – €23.01 · the €6.10 price screens below the €13.45 fair value. Dashed = 300-day average. As of Sep 30, 2026.

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Company profile

Hokuriku Electric Power Company supplies electricity through power generation, transmission, and distribution systems in Japan. The company generates electricity through hydroelectric, thermal, and nuclear sources.

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Hokuriku Electric Power Company supplies electricity through power generation, transmission, and distribution systems in Japan. The company generates electricity through hydroelectric, thermal, and nuclear sources. It is also involved in the sale of LNG; construction of thermal and nuclear power plant equipment; architecture, civil engineering, and paving works; design and construction business; maintenance of hydroelectric power generation substation; distribution facilities; electricity, air conditioning, water supply and drainage, communication equipment construction, and plumbing business; and manufacturing and sale of concrete poles and piles. The company also engages in providing data transmission line and office support work services; development and sale of software, logistics management system, and stem contract; real estate rental and management, temporary staffing, and leasing business; energy solutions, home sales, and gas retail business; execution of environmental greening projects; civil engineering and construction works; administrative services related to administrative indirect operations. In addition, it is involved in investment management business; manufacturing, repairing and testing electricity meters; manufacturing and sales of transformers and switchboards; cable television broadcasting service and internet service; construction and operation of black pellet manufacturing plants. The company was incorporated in 1951 and is headquartered in Toyama, Japan.

Stock analysis

Hokuriku Electric Power Company (6HO) currently trades at €6.10, while our model-based Fair Value estimate is €13.45, implying the stock looks roughly 54.6% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of €20.11 per share, and 19 of the 21 models we run sit above the €6.10 price.

Bear case: the Asset-Based group reads lowest at €8.11, and 2 of the 21 models stay below the price. Evidence for this calculation is high.

Scenario range: €9.91 (bear) to €23.01 (bull), the price of €6.10 sits below 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 52/100 (solid quality), in the Utilities sector.

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

Hokuriku Electric Power Company reported revenue of ¥787B in FY2026 versus ¥614B in FY2022, a compound +6.4%/yr. Reported net income was ¥54.5B in FY2026.

Key figures

Market cap €1.3B · P/E ratio 4.2 · P/S ratio 0.29 · EPS (TTM) €1.44 · Dividend yield 2.1% · Net margin 6.9% · Return on equity 10.9% · Return on assets (EBIT) 2.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 5% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at 120%, 6HO screens cheaper than that median.

Fair Value models

Bear €9.91 Fair Value €13.45 Bull €23.01
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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
Residual Income €10.72 €11.94 €14.16 73
FCF DCF €6.00 €13.97 €27.80 72
Growth DCF €6.84 €14.42 €26.53 71
All 21 models by family
DCF Models
FCF DCF €6.00 €13.97 €27.80 72
5Y Revenue Exit €1.66 €10.39 €23.23 62
5Y EBITDA Exit €5.37 €16.77 €32.08 67
5Y P/E Exit €0.1200 €7.76 €17.08 59
10Y Revenue Exit €2.92 €9.52 €16.56 60
10Y EBITDA Exit €5.47 €13.20 €21.45 63
10Y P/E Exit €2.54 €8.00 €13.16 58
Earnings-Based
Graham-Dodd €9.98 €13.54 €15.69 65
Dividend Discount
Gordon GGM €0.9800 €1.06 €1.17 67
DDM Multi-Stage €0.9800 €1.19 €1.45 65
Multiples
P/E Multiple €19.81 €26.41 €33.02 63
P/S Multiple €18.71 €24.95 €31.18 58
P/B Multiple €16.33 €21.78 €27.22 55
EV/EBIT €5.08 €13.91 €22.75 61
EV/EBITDA €9.22 €19.44 €29.66 64
EV/Revenue €0.0100 €9.20 €18.39 46
Asset-Based
NCAV (Graham) €6.05 €8.11 €12.10 54
Growth DCF
Growth DCF €6.84 €14.42 €26.53 71
Rev-Margin DCF €1.66 €11.10 €23.00 62
Economic Profit
Residual Income €10.72 €11.94 €14.16 73
Growth Earnings
Growth-Adj P/E €14.08 €20.11 €26.14 65

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Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 70

Profitability 30
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 76
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. 40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−8.4%
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.
−1.3%
What shareholders gained per year (last 3 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+0.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.4%
Dividend (yield on the price)2.1%
Profit margin 2022 to 2026 ⓘ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.−3% → 11%

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Peer Groupⓘ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.Utilities - Regulated Electric · 155 stocks

Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Above median
Fair Value upside +113.5% · Top 25%
Profitability
Return on equity (TTM) 10.9% · Above median
Return on assets 2.6% · Below median
Net margin (TTM) 6.1% · Bottom 25%
Operating margin (TTM) 13.4% · Below median
Growth and dividend
Revenue growth 7.0% · Above median
Dividend yield (TTM) 2.1% · Below median
Balance sheet
Debt / equity 2.18× · Highest 25%

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 4.2× · Cheapest 25%
P/B 0.52× · Cheapest 25%
P/S (TTM) 0.29× · Cheapest 25%
P/FCF 2.0× · Cheapest 25%
EV/EBITDA 7.2× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 12
FUTURE (revenue growth)35 · sector 21
PAST (return on equity)44 · sector 39
HEALTH (low debt)0 · sector 52
DIVIDEND (yield)43 · sector 65

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 - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $75.74 $29.97 −60%
The Southern Company SO $82.89 $57.57 −31%
Duke Energy Corporation DUK $113.41 $74.88 −34%
American Electric Power Company AEP $118.64 $100.03 −16%
Dominion Energy, Inc D $60.76 $37.84 −38%
Entergy Corporation ETR $98.10 $37.37 −62%
Xcel Energy Inc XEL $69.39 $54.92 −21%
Exelon Corporation EXC $40.32 $36.01 −11%
Consolidated Edison, Inc ED $103.33 $47.76 −54%
PG&E Corporation PCG $12.34 $17.85 +45%

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Hokuriku Electric Power Company · Fair Value
€13.45 +55%Fair Value
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Cite: Fair Value Calculator (2026). "Hokuriku Electric Power Company Fair Value". https://www.fairvalue-calculator.com/stock/6HO

Frequently asked questions

Is Hokuriku Electric Power Company (6HO) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €13.45 versus a price of €6.10, about +120% upside (undervalued).
What is the fair value of 6HO?
Our model-based fair value for Hokuriku Electric Power Company is €13.45 (as of Sep 30, 2026), built from audited fundamentals. The current price: €6.10.
What is the quality score of 6HO?
Hokuriku Electric Power Company has a Quality Score of 52/100. 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 Hokuriku Electric Power Company (6HO)?
Our model-based price target is the fair value of €13.45 (as of Sep 30, 2026) from 21 valuation models. Cautious scenario €9.91, optimistic scenario €23.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Hokuriku Electric Power Company stock forecast for 2026?
Our models put fair value at €13.45, about +120% upside versus a price of €6.10 (undervalued). Cautious scenario €9.91, optimistic scenario €23.01. The calculation is refreshed regularly with new filings.
What is the revenue of Hokuriku Electric Power Company (6HO)?
Hokuriku Electric Power Company reported trailing-twelve-month revenue of about ¥799B (latest available figure, as of Sep 30, 2026).
Does Hokuriku Electric Power Company pay a dividend?
Hokuriku Electric Power Company currently shows a dividend yield of about 2.14% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of Hokuriku Electric Power Company (6HO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hokuriku Electric Power Company it is €13.45 per share (as of Sep 30, 2026), against a price of €6.10. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Hokuriku Electric Power Company stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 6HO trades below its calculated fair value: price €6.10, fair value €13.45, a gap of about +120% (undervalued). 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 6HO?
No. The price is what the market pays today (€6.10); the fair value is what the company's own numbers justify (€13.45). For Hokuriku Electric Power Company the two are €7.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hokuriku Electric Power Company worth?
The market values Hokuriku Electric Power Company at about €1.3B (market capitalisation, as of Sep 30, 2026). Per share that is €6.10; our models calculate a fair value of €13.45 per share.
What do the bullish and bearish scenarios say about 6HO?
Our models span a range for Hokuriku Electric Power Company: cautious scenario €9.91, base €13.45, optimistic €23.01 per share (as of Sep 30, 2026, price €6.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6HO?
Hokuriku Electric Power Company trades at a price-to-earnings ratio of 4.2 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €13.45 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.3, EV/EBITDA 7.2.
How solid is the balance sheet of Hokuriku Electric Power Company (6HO)?
Balance-sheet figures for Hokuriku Electric Power Company (as of Sep 30, 2026): return on equity 10.9%, debt of 2.18 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 6HO from its 52-week high?
Hokuriku Electric Power Company trades at €6.10, about 5% below its 52-week high of €6.40 and 46% above the low of €4.18 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €13.45 is for.
Which stocks are comparable to Hokuriku Electric Power Company?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Hokuriku Electric Power Company stock attractive at the current price?
The data as of Sep 30, 2026: price €6.10, calculated fair value €13.45 (+120%), Quality Score 52/100, from 21 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 6HO calculated?
We run Hokuriku Electric Power Company through 21 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 €13.45, 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 14.5 % above its aggregate fair value. Hokuriku Electric Power Company currently trades 55 % below its own fair value, and the market average says nothing about that. 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 Hokuriku Electric Power Company (6HO)?
The closing price on Oct 1, 2026 was €6.10. Our model-based fair value is €13.45, about +120% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hokuriku Electric Power Company right now?
The price is below even our cautious bear case (€9.91). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€9.91 to €23.01) leaves room in how you read the outcome.

Key figures of Hokuriku Electric Power Company

How large is the market capitalisation of Hokuriku Electric Power Company (6HO)?
The market capitalisation of Hokuriku Electric Power Company is €1.3B. 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 Hokuriku Electric Power Company (6HO)?
The price-to-sales ratio of Hokuriku Electric Power Company is 0.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hokuriku Electric Power Company (6HO)?
Earnings per share at Hokuriku Electric Power Company are €1.44 (price ÷ EPS = P/E 4.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hokuriku Electric Power Company (6HO)?
The dividend yield of Hokuriku Electric Power Company is 2.1% (payout 9.1%). 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 Hokuriku Electric Power Company (6HO)?
The net margin of Hokuriku Electric Power Company is 6.9% (fiscal year 2026). 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 Hokuriku Electric Power Company (6HO)?
The return on equity (ROE) of Hokuriku Electric Power Company is 10.9% (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 Hokuriku Electric Power Company (6HO)?
On an EBIT basis the return on assets of Hokuriku Electric Power Company is 2.3% (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 Hokuriku Electric Power Company (6HO)?
The operating margin of Hokuriku Electric Power Company is 13.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hokuriku Electric Power Company (6HO)?
Revenue at Hokuriku Electric Power Company is growing +7.0% versus a year earlier (3y avg −1.3%). 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 Hokuriku Electric Power Company (6HO)?
Earnings per share at Hokuriku Electric Power Company are growing −20.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hokuriku Electric Power Company (6HO) generate?
The free cash flow of Hokuriku Electric Power Company is ¥117B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hokuriku Electric Power Company (6HO) carry?
The net debt of Hokuriku Electric Power Company is ¥797B (fiscal year 2026, ≈ 6.8 yrs of FCF). 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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