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Central Hydropower Joint Stock Company (CHP) Fair Value & Analysis

Utilities · VN · Market cap 4.4T VND

CH Central Hydropower Joint Stock Company CHP · VN
Price27,600 VND
Fair Value45,831 VND
Upside+66.1%
Quality86/100
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Healthy Growth
Highly profitable · 44.6% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Wide moat 83/100
Evidence: High Range 34,161 VND – 57,501 VND Share as image

Fair value as of: Jul 16, 2026

From 23 valuation models · updated 24 days ago

Share price −0.7% over the past month.

A strong business, screening 66% undervalued on our models.

What matters now

  • The rarer combination: high quality (86/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (34,161 VND). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

33,248 VND 10,884 VND Fair Value 45,831 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 10,884 VND – 33,248 VND · fair‑value band 34,161 VND – 57,501 VND · the 27,600 VND price screens below the 45,831 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Central Hydropower Joint Stock Company (CHP) currently trades at 27,600 VND, while our model-based Fair Value estimate is 45,831 VND, implying the stock looks roughly 66.1% undervalued today. The Quality Score stands at 86/100 (high 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: high), always confirm before acting.

Over the trailing twelve months, Central Hydropower Joint Stock Company generated revenue of 963B VND at a net margin of 44.6%. Revenue declined 15.2% year over year. It earns a return on equity of 21.5%. Net debt stands at 134B VND. Fundamentals as of Jul 16, 2026

Our scenario range runs from 34,161 VND (bear case) to 57,501 VND (bull case); at 27,600 VND, 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 11% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at 66%, CHP 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 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. Evidence
Highest evidence
Growth DCF 47,651 VND 65,806 VND 96,108 VND 80
Residual Income 18,590 VND 22,667 VND 64,771 VND 76
ROIC Compounder 29,441 VND 35,759 VND 42,221 VND 72
All 23 models by family
DCF Models
FCF DCF 45,736 VND 64,392 VND 97,615 VND 38
Owner Earnings 45,467 VND 64,014 VND 97,043 VND 31
5Y Revenue Exit 22,784 VND 28,617 VND 36,423 VND 39
5Y EBITDA Exit 35,640 VND 50,726 VND 69,404 VND 41
5Y P/E Exit 37,994 VND 54,775 VND 73,448 VND 38
10Y Revenue Exit 30,527 VND 37,055 VND 44,047 VND 36
10Y EBITDA Exit 38,960 VND 52,080 VND 66,948 VND 37
10Y P/E Exit 40,445 VND 54,832 VND 69,756 VND 35
Earnings-Based
Graham-Dodd 19,768 VND 36,441 VND 45,140 VND 54
EPV 28,712 VND 33,838 VND 38,395 VND 59
Dividend Discount
Gordon GGM 19,610 VND 26,565 VND 33,849 VND 70
DDM Multi-Stage 19,610 VND 27,461 VND 37,219 VND 61
Multiples
P/E Multiple 39,246 VND 52,327 VND 65,409 VND 63
P/S Multiple 11,879 VND 15,839 VND 19,799 VND 58
P/B Multiple 18,052 VND 24,069 VND 30,086 VND 55
EV/EBIT 35,974 VND 48,078 VND 60,183 VND 53
EV/EBITDA 34,671 VND 46,341 VND 58,011 VND 54
EV/Revenue 10,749 VND 15,500 VND 20,252 VND 43
Asset-Based
NCAV (Graham) 6,686 VND 8,959 VND 13,372 VND 50
Growth DCF
Growth DCF 47,651 VND 65,806 VND 96,108 VND 80
Economic Profit
Residual Income 18,590 VND 22,667 VND 64,771 VND 76
ROIC Compounder 29,441 VND 35,759 VND 42,221 VND 72
Growth Earnings
Growth-Adj P/E 28,067 VND 40,095 VND 52,124 VND 68

Widest divergence: Growth DCF (65,806 VND) versus Asset-Based (8,959 VND). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 963B VND
Revenue growth (YoY) -15.2%
Net margin 44.6%
Return on equity 21.5%
Free cash flow 675B VND FY2025
P/E ratio 10.9
More key figures
Operating margin 51.4%
EPS (TTM) 2,542 VND
EPS growth (YoY) -24.2%
Net debt 134B VND FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 86/100

Of which business quality 82 · Market factors (momentum, volatility) 55

Profitability 67
Margins and returns on capital today
Quality Growth 95
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 70
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

Central Hydropower Joint Stock Company produces, transmits, and distributes electricity in Vietnam. The company invests in construction of hydropower projects, solar power plants, and wind energy facilities; and constructs electricity transmission lines, transformer stations, solar and wind power works.

Full company description

Central Hydropower Joint Stock Company produces, transmits, and distributes electricity in Vietnam. The company invests in construction of hydropower projects, solar power plants, and wind energy facilities; and constructs electricity transmission lines, transformer stations, solar and wind power works. It is also involved in afforestation and other forestry activities, and propagation of forest trees; business services in construction surveying; consulting on the construction of power projects; consulting and designing power grids and lighting systems; supervision consulting for equipment installation of power projects, as well as construction of irrigation works, hydropower plants, transmission lines and substations, solar power plants, and wind power plants; operations management and maintenance for power plants and industrial facilities; project management consulting for civil, industrial, infrastructure, agriculture, rural development, and road transport projects, as well as for hydropower plants, solar power plants, and wind power plants; contractor selection consulting; and geological exploration activities, such as leasing of non-financial intangible assets, construction of hydraulic structures, and other specialized construction activities. Central Hydropower Joint Stock Company was incorporated in 2004 and is headquartered in Da Nang, Vietnam.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Central Hydropower Joint Stock Company reported revenue of 999B VND in FY2025 versus 787B VND in FY2021, a compound +6.1%/yr. Reported net income was 458B VND in FY2025, compounding +17.3%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
999B VND
Latest YoY
+22.7%
Avg. growth/yr (3Y) 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.
−3.2%
Avg. growth/yr (5Y) 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.
+3.8%
Avg. growth/yr (6Y) 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.
+5.8%
Revenue +6.1%/yr
FY21 787B VND
FY22 1.1T VND
FY23 881B VND
FY24 814B VND
FY25 999B VND
Net income +17.3%/yr
FY21 242B VND
FY22 510B VND
FY23 337B VND
FY24 314B VND
FY25 458B VND

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Cite: Fair Value Calculator (2026). "Central Hydropower Joint Stock Company Fair Value". https://www.fairvalue-calculator.com/stock/CHP

Peer Group

Utilities - Regulated Electric · 154 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 86 · Top 25%
Fair Value upside +66% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 45% · Top 25%
Operating margin (TTM) 51% · Top 25%
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.15× · Lower than 75% of peers

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 2.06× · Pricier than median
P/S (TTM) 4.52× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 6.3× · 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 7
FUTURE 0 · sector 32
PAST 86 · sector 39
HEALTH 93 · sector 54
DIVIDEND 0 · sector 56

Insider activity: 40/100

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 - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $88.80 $32.94 -63%
The Southern Company SO $95.61 $61.06 -36%
Duke Energy Corporation DUK $126.11 $97.11 -23%
National Grid plc NGG 61,175 ARS 44,377 ARS -27%
American Electric Power Company AEP $132.50 $79.33 -40%
Dominion Energy, Inc D $70.08 $46.92 -33%
NTPC Limited NTPC ₹341.85 ₹377.16 +10%
CEZ, a. s. CEZ 232.40 PLN 159.33 PLN -31%
Power Grid Corporation POWERGRID ₹283.55 ₹252.77 -11%
China National Nuclear Power Co 601985 ¥8.91 ¥7.69 -14%

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Frequently asked questions

Is Central Hydropower Joint Stock Company (CHP) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 45,831 VND versus a price of 27,600 VND, about +66% (undervalued).
What is the fair value of CHP?
Our model-based fair value for Central Hydropower Joint Stock Company is 45,831 VND (as of Jul 16, 2026), built from audited fundamentals. The current price is 27,600 VND.
What is the quality score of CHP?
Central Hydropower Joint Stock Company has a Quality Score of 86/100. 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 Central Hydropower Joint Stock Company (CHP)?
Central Hydropower Joint Stock Company reported trailing-twelve-month revenue of about 963B VND (latest available figure, as of Jul 16, 2026).
What is the net profit margin of CHP?
The net profit margin of Central Hydropower Joint Stock Company is about 44.6%, meaning it keeps roughly 44.6% of revenue as net income. Based on the latest reported figures.

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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