Power Generation Joint Stock Corporation (PGV) Fair Value & Analysis
Utilities · VN · Market cap 26.0T VND
Fair value as of: Jul 20, 2026
From 24 valuation models · updated 21 days ago
Fair value updated Jul 20, 2026, revised from 40,160 VND to 37,532 VND (−6.5%) since Jul 19, 2026. Share price +6.3% over the past month.
A solid business, screening 54% undervalued on our models.
What matters now
- The price is below even our cautious bear case (25,837 VND). The market is more pessimistic than our downside scenario.
- Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (25,837 VND to 63,198 VND) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 12,377 VND – 34,257 VND · fair‑value band 25,837 VND – 63,198 VND · the 24,350 VND price screens below the 37,532 VND fair value. Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Power Generation Joint Stock Corporation (PGV) currently trades at 24,350 VND, while our model-based Fair Value estimate is 37,532 VND, implying the stock looks roughly 54.1% undervalued today. The Quality Score stands at 61/100 (solid 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, Power Generation Joint Stock Corporation generated revenue of 43.6T VND at a net margin of 8.5%. Revenue grew 12.5% year over year. It earns a return on equity of 23.0%. Net debt stands at 25.2T VND. Fundamentals as of Jul 20, 2026
Our scenario range runs from 25,837 VND (bear case) to 63,198 VND (bull case); at 24,350 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 15% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at 54%, PGV 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.
All 24 models by family
Widest divergence: Multiples (56,308 VND) versus Dividend Discount (38.03 VND). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 63
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 Generation Joint Stock Corporation 3, together with its subsidiaries, engages in electricity production, electrical mechanics, and investment and capital management businesses in Vietnam. The company generates and trades in electricity from natural gas, coal dust, thermal, solar, and hydro power plants in Vietnam.
Full company description
Power Generation Joint Stock Corporation 3, together with its subsidiaries, engages in electricity production, electrical mechanics, and investment and capital management businesses in Vietnam. The company generates and trades in electricity from natural gas, coal dust, thermal, solar, and hydro power plants in Vietnam. It is also involved in management, operation, repair, maintenance, overhaul, testing, adjustment, renovation, and upgrading of electrical, mechanical, control and automation equipment in electricity production lines and electrical works; management, operation, repair, and exploitation of seaports; and provision of electrical experiments, electrical mechanics, training and development of human resources, maintenance and repair of power plant equipment, project management consulting, construction investment project planning consulting, bidding consulting, and estimating services. In addition, the company provides consulting, verification, and supervision of construction of power generation projects and synchronous power grid projects of power generation projects; maintenance and repair of power plant equipment; and solar energy and renewable energy projects. Further, it operates a total installed capacity of 2929 MW gas fired thermal power plants, 2424 MW coal-fired thermal power plants, 56.14 MWp solar power plants, and 1170 MW. The company was founded in 2012 and is headquartered in Ho Chi Minh City, Vietnam. Power Generation Joint Stock Corporation 3 is a subsidiary of Vietnam Power Group.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Power Generation Joint Stock Corporation reported revenue of 43.6T VND in FY2025 versus 37.8T VND in FY2021, a compound +3.6%/yr. Reported net income was 3.7T VND in FY2025, compounding +4.3%/yr from FY2021.
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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.
Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 20, 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
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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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