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H-Power Plc (HPOW) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of H-Power Plc stock £0.05, price £0.07, that is 35.2% below the price, quality 33 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Industrials GB

HP H-Power Plc logo Thin data Nov 10, 2026

H-Power Plc

HPOW · LSE
Weakest Setup

Our calculation puts a fair price 35% below what the stock costs today.

Low debt
Mixed vs. peers (3/7)
Fair value £0.0451 · Strongly overvalued
Quality 33/100
Weak Growth (revenue 3y −40.1 %/yr in GBP)
Negative free cash flow
Narrow moat 6/100 · thin data
Thin data
Estimate
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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

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Price vs Fair Value

£0.1702 £0.0670 Fair Value £0.0451 Apr 2026 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

7‑month range £0.0670 – £0.1702 · fair‑value band £0.0391 – £0.0511 · the £0.0696 price screens above the £0.0451 fair value. As of Nov 10, 2026.

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Company profile

H-Power plc engages in the development of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions in the United Kingdom. It operates through Sales of fuel cell generators and Rental segments.

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The company provides an H-Power Tower, an S series fuel cell generators; and L series fuel cell generators.

It is also developing an H-power generator " S series fuel cell, a modular compact; H-power generator S+ series fuel cell diesel generator alternative; ammonia cracker, a technology to convert ammonia into hydrogen; and a methanol fuel tower, a technology solution for conversion of carrier fuel methanol into hydrogen.

In addition, the company provides various support solutions, including the supply of hydrogen, ammonia or methanol; consultation on fuel consumption and logistics requirements; arranging the sourcing, supply, and delivery of the fuel of choice; consultation or supply of on-site fuel storage; consultation and design of the full power solution based on the application; arrangements to supply, deliver, and connect battery energy storage technology; technical integration of technologies, such as battery, fuel cell, fuel conversion, and fuel storage; monitoring and optimization for the full system; on-site installation, commissioning, and decommissioning; on call maintenance from field support team; and operating guidelines and on-site briefing services.

It offers products for use in various applications, such as maritime, construction, data centers, outdoor events, EV charging, and rail sectors. The company was formerly known as AFC Energy plc and changed its name to H-Power plc in May 2026.

The company was incorporated in 2006 and is based in Cranleigh, the United Kingdom.

Stock analysis

H-Power Plc (HPOW) currently trades at £0.0696, while our estimate is £0.0451, 35% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: £0.0391 (bear) to £0.0511 (bull), the price of £0.0696 sits above 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 33/100 (below-average quality), in the Industrials sector.

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

H-Power Plc reported revenue of £125K in FY2025 versus £593K in FY2021, a compound −32.2%/yr. Reported net income was −£22.2M in FY2025.

Key figures

Market cap £78.0M Micro · EPS (TTM) £−0.0200 · Return on equity −67.5% · Return on assets (EBIT) −43.6% (5-year average) · Operating margin −3,002% · Revenue (TTM) £361K · Revenue growth (YoY) +13.9% · Free cash flow −£17.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −35%, HPOW screens richer than that median.

Fair Value

Bear £0.0391 Fair Value £0.0451 Bull £0.0511
Price £0.0696 · Downside -35.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 1
Are margins and returns getting better?
Cashflow 1
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 2
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 39
Buys back shares or issues new ones?

Open the full quality analysis →

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−96.9%
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.
−40.1%
Revenue growth 15 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.
−2.4%
Profit margin (trend) ⓘ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.
−1,755.8% (2021) → −18,307.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

HPOW screens overvalued: fair value 35% below the price. Compare with Contemporary Amperex Technology Co →

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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.Electrical Equipment & Parts · 588 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside −35.2% · Below median
Profitability
Return on assets −52.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 13.9% · Above median
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/B 2.14× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)69 · sector 67
PAST (return on equity)0 · sector 25
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Contemporary Amperex Technology Co 300750 ¥246.66 ¥648.35 +163% vs HPOW
Sungrow Power Supply Co 300274 ¥80.09 ¥182.32 +128% vs HPOW
NARI Technology Co 600406 ¥23.10 ¥29.39 +27% vs HPOW
Vertiv Holdings VRT $206.51 $178.64 −14% vs HPOW
Samsung SDI Co 006400 478,500 KRW 395,019 KRW −17% vs HPOW
Legrand SA LR €138.60 €82.49 −40% vs HPOW
Prysmian S.p.A PRY €111.80 €64.29 −43% vs HPOW
ABB Ltd ABBN CHF 70.70 CHF 29.81 −58% vs HPOW
Delta Electronics (Thailand) Public Company DELTA 194.50 THB 39.14 THB −80% vs HPOW
LG Energy Solution, Ltd 373220 335,500 KRW 53,325 KRW −84% vs HPOW

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H-Power Plc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "H-Power Plc Fair Value". https://www.fairvalue-calculator.com/stock/HPOW

Frequently asked questions

Is H-Power Plc (HPOW) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is £0.0451 versus a price of £0.0696, about 35% lower (overvalued).
What is the fair value of HPOW?
Our estimate for H-Power Plc is £0.0451 (as of Nov 10, 2026), built from audited fundamentals. The current price: £0.0696.
What is the quality score of HPOW?
H-Power Plc has a Quality Score of 33/100. 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 H-Power Plc (HPOW)?
Our calculated price target is the estimate of £0.0451 (as of Nov 10, 2026). Cautious scenario £0.0391, optimistic scenario £0.0511. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the H-Power Plc stock forecast for 2026?
Our estimate puts fair value at £0.0451, about 35% lower versus a price of £0.0696 (overvalued). Cautious scenario £0.0391, optimistic scenario £0.0511. The calculation is refreshed regularly with new filings.
What is the revenue of H-Power Plc (HPOW)?
H-Power Plc reported trailing-twelve-month revenue of about £361K (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of H-Power Plc (HPOW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For H-Power Plc it is £0.0451 per share (as of Nov 10, 2026), against a price of £0.0696.
Is H-Power Plc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, HPOW trades above its calculated fair value: price £0.0696, fair value £0.0451, a gap of about −35% (overvalued). 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 HPOW?
No. The price is what the market pays today (£0.0696); the fair value is what the company's own numbers justify (£0.0451). For H-Power Plc the two are £0.0245 per share apart. That gap is exactly why we show both numbers side by side.
How much is H-Power Plc worth?
The market values H-Power Plc at about £78.0M (market capitalisation, as of Nov 10, 2026). Per share that is £0.0696; our models calculate a fair value of £0.0451 per share.
What do the bullish and bearish scenarios say about HPOW?
Our models span a range for H-Power Plc: cautious scenario £0.0391, base £0.0451, optimistic £0.0511 per share (as of Nov 10, 2026, price £0.0696). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of H-Power Plc (HPOW)?
Balance-sheet figures for H-Power Plc (as of Nov 10, 2026): return on equity −67.5%, debt of 0.00 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
Which stocks are comparable to H-Power Plc?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public 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 H-Power Plc stock attractive at the current price?
The data as of Nov 10, 2026: price £0.0696, calculated fair value £0.0451 (−35%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. H-Power Plc itself currently trades above fair value. 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 H-Power Plc (HPOW)?
The closing price on Nov 11, 2026 was £0.0696. Our estimate is £0.0451, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with H-Power Plc right now?
The price sits above even our optimistic bull case (£0.0511). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of H-Power Plc

How large is the market capitalisation of H-Power Plc (HPOW)?
The market capitalisation of H-Power Plc is £78.0M. 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 are the earnings per share of H-Power Plc (HPOW)?
Earnings per share at H-Power Plc are £−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of H-Power Plc (HPOW)?
The return on equity (ROE) of H-Power Plc is −67.5% (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 H-Power Plc (HPOW)?
On an EBIT basis the return on assets of H-Power Plc is −43.6% (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 H-Power Plc (HPOW)?
The operating margin of H-Power Plc is −3,002% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at H-Power Plc (HPOW)?
Revenue at H-Power Plc is growing +13.9% versus a year earlier (3y avg −40.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does H-Power Plc (HPOW) generate?
The free cash flow of H-Power Plc is −£17.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does H-Power Plc (HPOW) hold?
H-Power Plc holds more cash than debt, £14.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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