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

Utilities · CN · Market cap 107B CNY (≈ $16.0B) · ISIN CNE000001Q02

What is Datang International Power Generation Co Ltd Class A really worth?

DI Datang International Power Generation Co Ltd Class A 601991 · SHG
Price¥5.58
Fair Value¥4.95
Upside−11.3%
Quality50/100

A solid business, but trading 13% above our fair value of ¥4.95.

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Strengths

Ranks above peers (10/15)

Risks

!Expensive Growth (revenue 5y +4.8 %/yr)
!Thin margins · 6.6% net margin
!High debt · generates free cash flow
!Moderate moat 46/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 18 out of 100
!Weak on future: 1 out of 100

For context

·2.65% dividend yield
Evidence: Low Range ¥2.58 – ¥8.48

Fair value as of: Aug 29, 2026

From 25 valuation models · updated 6 days ago

Share price −13.2% over the past month.

What runs behind every stock

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

What matters now

  • The model range is unusually wide (¥2.58 to ¥8.48). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

¥9.18 ¥2.14 Fair Value ¥4.95 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range ¥2.14 – ¥9.18 · fair‑value band ¥2.58 – ¥8.48 · the ¥5.58 price screens above the ¥4.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Datang International Power Generation Co Ltd Class A (601991) currently trades at ¥5.58, while our model-based Fair Value estimate is ¥4.95, implying the stock looks roughly 12.7% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Utilities sector. Bull case: the Multiples group reads highest at a median of ¥6.78 per share, and 11 of the 25 models we run sit above the ¥5.58 price. Bear case: the Asset-Based group reads lowest at ¥1.23, and 14 of the 25 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Datang International Power Generation Co Ltd Class A 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 Aug 29, 2026

Our scenario range runs from ¥2.58 (bear case) to ¥8.48 (bull case); at ¥5.58, 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 44% below its 52-week high and 78% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −11%, 601991 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.1435 per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF ¥1.22 ¥5.19 ¥11.21 71
Growth DCF ¥1.36 ¥4.88 ¥9.91 71
5Y EBITDA Exit ¥4.23 ¥11.18 ¥19.28 70
All 25 models by family
DCF Models
FCF DCF ¥1.22 ¥5.19 ¥11.21 71
5Y Revenue Exit ¥1.62 ¥6.33 ¥12.32 66
5Y EBITDA Exit ¥4.23 ¥11.18 ¥19.28 70
5Y P/E Exit ¥2.60 ¥5.68 67
10Y Revenue Exit ¥1.16 ¥5.42 ¥11.10 60
10Y EBITDA Exit ¥3.07 ¥8.78 ¥16.39 63
10Y P/E Exit ¥0.1400 ¥2.84 ¥6.05 56
Earnings-Based
Graham-Dodd ¥2.71 ¥8.27 ¥10.97 62
Lynch FV ¥1.77 ¥2.53 ¥3.29 58
PEG = 1.0 ¥1.77 ¥2.53 ¥3.29 55
EPV ¥1.16 ¥2.36 ¥3.41 69
Dividend Discount
Gordon GGM ¥1.08 ¥2.24 ¥3.55 64
DDM Multi-Stage ¥1.08 ¥1.76 ¥2.35 64
Multiples
P/E Multiple ¥5.39 ¥7.18 ¥8.98 61
P/S Multiple ¥5.09 ¥6.78 ¥8.48 56
P/B Multiple ¥2.48 ¥3.31 ¥4.14 53
EV/EBIT ¥4.18 ¥7.59 ¥10.99 62
EV/EBITDA ¥7.32 ¥11.77 ¥16.23 64
EV/Revenue ¥2.23 ¥5.77 ¥9.31 49
Asset-Based
NCAV (Graham) ¥0.9200 ¥1.23 ¥1.84 52
Growth DCF
Growth DCF ¥1.36 ¥4.88 ¥9.91 71
Rev-Margin DCF ¥1.62 ¥6.32 ¥11.69 67
Economic Profit
Residual Income ¥2.61 ¥3.48 ¥15.38 63
ROIC Compounder ¥1.16 ¥2.67 ¥4.92 66
Growth Earnings
Growth-Adj P/E ¥4.50 ¥6.43 ¥8.35 66

Widest divergence: Multiples (¥6.78) versus Asset-Based (¥1.23). Highest evidence: FCF DCF (71).

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Key figures & financial health

P/E ratio 16.1 as of Jul 17, 2026
P/S ratio 0.99 P/E × margin
EPS (TTM) ¥0.3600 price ÷ EPS = P/E 16.1
Dividend yield 2.7% payout 41.1%
Net margin 6.1% FY2025
Return on equity 10.7% TTM
More key figures
Profitability
Return on assets (EBIT) 1.2% avg 5y
Operating margin 16.7% TTM
Growth
Revenue (TTM) 121B CNY TTM
Revenue growth (YoY) +0.2% 3y avg +1.1%
EPS growth (YoY) +40.2%
Balance sheet & cash flow
Free cash flow 11.9B CNY FY2025
Net debt 238B CNY FY2025 · ≈ 20.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 47 · Market factors (momentum, volatility) 59

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 63
Price trend over the last 3–12 months (market factor)
52W Momentum 67
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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 Ltd Class A reported revenue of 121B CNY in FY2025 versus 104B CNY in FY2021, a compound +3.9%/yr. Reported net income was 7.4B CNY 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. revenue 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.
+1.1%
Avg. revenue 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.
+4.8%
Avg. revenue growth/yr (23Y) 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.
+1.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+31.9% (29.2 + 2.7)
Revenue +3.9%/yr
FY21 104B CNY
FY22 117B CNY
FY23 122B CNY
FY24 123B CNY
FY25 121B CNY
Net income
FY21 −9.1B CNY
FY22 −408M CNY
FY23 1.4B CNY
FY24 4.5B CNY
FY25 7.4B CNY
Character of growth · EPS growth decomposed (2014-2025) +3.4 % p.a.
Revenue per share +3.1 %

of which total revenue +6.7 % · buybacks/dilution −3.4 %

EBIT margin +1.7 %
Tax rate +4.9 %
Residual (interest, one-offs) −5.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

601991 screens 13% overvalued. Compare with Constellation Energy Corporation →

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

Peer Group

Utilities - Independent Power Producers · 77 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 50 · Above median
Fair Value upside −11% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth 0% · Above median
Dividend yield (TTM) 2.7% · 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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE18 · sector 17
FUTURE1 · sector 0
PAST43 · sector 30
HEALTH0 · sector 70
DIVIDEND53 · sector 52

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 - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Constellation Energy Corporation CEG $285.05 $88.09 −69%
Vistra Corp VST $144.22 $50.39 −65%
Adani Power Limited ADANIPOWER ₹206.10 ₹75.57 −63%
CGN Power Co 003816 ¥4.33 ¥3.62 −16%
Gulf Development Public Company GULF 63.25 THB 39.25 THB −38%
NRG Energy, Inc NRG $109.51 $53.91 −51%
Adani Energy Solutions Limited ADANIENSOL ₹1,583 ₹342.02 −78%
Talen Energy Corporation TLN $365.07 $43.55 −88%
Huaneng Power International, Inc 600011 ¥6.92 ¥9.14 +32%
The Tata Power Company TATAPOWER ₹368.00 ₹175.12 −52%

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Frequently asked questions

Is Datang International Power Generation Co Ltd Class A (601991) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of ¥4.95 versus a price of ¥5.58, about −11% upside (overvalued).
What is the fair value of 601991?
Our model-based fair value for Datang International Power Generation Co Ltd Class A is ¥4.95 (as of Aug 29, 2026), built from audited fundamentals. The current price: ¥5.58.
What is the quality score of 601991?
Datang International Power Generation Co Ltd Class A has a Quality Score of 50/100. 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 Datang International Power Generation Co Ltd Class A (601991)?
Datang International Power Generation Co Ltd Class A reported trailing-twelve-month revenue of about 121B CNY (latest available figure, as of Aug 29, 2026).
What is the net profit margin of 601991?
The net profit margin of Datang International Power Generation Co Ltd Class A 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 Ltd Class A pay a dividend?
Datang International Power Generation Co Ltd Class A currently shows a dividend yield of about 2.65% relative to its recent price (as of Aug 29, 2026).
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