China Resources Power Holdings Company Limited

DB:CRP Stock Report

Market Cap: €11.0b

China Resources Power Holdings Valuation

Is CRP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CRP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CRP (€2.13) is trading below our estimate of fair value (€10.21)

Significantly Below Fair Value: CRP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CRP?

Key metric: As CRP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CRP. This is calculated by dividing CRP's market cap by their current earnings.
What is CRP's PE Ratio?
PE Ratio6.6x
EarningsHK$13.63b
Market CapHK$90.06b

Price to Earnings Ratio vs Peers

How does CRP's PE Ratio compare to its peers?

The above table shows the PE ratio for CRP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48.5x
RWE RWE
8.4x-10.8%€23.7b
AB9 ABO Energy GmbH KGaA
12x11.6%€356.8m
EBK EnBW Energie Baden-Württemberg
29.2xn/a€17.5b
ECV Encavis
144.2x40.0%€2.7b
CRP China Resources Power Holdings
6.6x11.7%€90.1b

Price-To-Earnings vs Peers: CRP is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (48.5x).

Price to Earnings Ratio vs Industry

How does CRP's PE Ratio compare vs other companies in the European Renewable Energy Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
CRP 6.6xIndustry Avg. 17.5xNo. of Companies8PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CRP is good value based on its Price-To-Earnings Ratio (6.6x) compared to the European Renewable Energy industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is CRP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CRP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.6x
Fair PE Ratio22.6x

Price-To-Earnings vs Fair Ratio: CRP is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (22.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CRP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.13
€2.93
+38.0%
13.7%€3.72€2.12n/a16
Nov ’25€2.13
€2.91
+36.4%
13.7%€3.69€2.11n/a16
Oct ’25€2.33
€2.81
+21.0%
13.5%€3.61€2.06n/a17
Sep ’25€2.38
€2.81
+18.1%
12.7%€3.60€2.22n/a17
Aug ’25€2.50
€2.79
+11.8%
12.4%€3.65€2.25n/a17
Jul ’25€2.81
€2.73
-2.9%
10.4%€3.17€2.29n/a18
Jun ’25€2.57
€2.69
+4.6%
10.0%€3.13€2.26n/a18
May ’25€2.30
€2.60
+13.2%
11.3%€3.17€2.03n/a17
Apr ’25€2.13
€2.53
+18.7%
12.0%€3.13€2.01n/a18
Mar ’25€1.99
€2.51
+26.0%
12.5%€2.98€2.02n/a18
Feb ’25€1.82
€2.50
+36.9%
12.6%€2.95€2.01n/a17
Jan ’25€1.78
€2.48
+39.2%
12.9%€2.90€1.97n/a15
Dec ’24€1.73
€2.64
+52.8%
12.6%€3.06€2.04n/a15
Nov ’24€1.79
€2.70
+51.0%
14.5%€3.56€2.06€2.1315
Oct ’24€1.78
€2.66
+49.1%
14.0%€3.50€2.02€2.3316
Sep ’24€1.78
€2.60
+46.1%
13.9%€3.44€1.99€2.3816
Aug ’24€1.98
€2.55
+29.1%
9.5%€2.96€1.98€2.5017
Jul ’24€2.06
€2.56
+24.5%
9.4%€2.98€1.99€2.8118
Jun ’24€2.13
€2.49
+16.9%
10.6%€2.93€1.96€2.5717
May ’24€1.94
€2.49
+28.3%
10.6%€2.93€1.96€2.3017
Apr ’24€1.93
€2.52
+30.7%
10.6%€2.99€2.00€2.1316
Mar ’24€1.91
€2.57
+34.4%
10.4%€2.98€2.03€1.9916
Feb ’24€1.89
€2.50
+32.4%
10.7%€2.95€2.01€1.8216
Jan ’24€1.88
€2.44
+29.7%
12.1%€2.99€1.91€1.7816
Dec ’23€1.73
€2.49
+44.6%
12.5%€3.02€1.95€1.7315
Nov ’23€1.48
€2.69
+81.9%
13.0%€3.19€2.06€1.7913

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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