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600292.SS$14.02-3.38%
Fair $14.02+0.0%

600292.SS

SPIC Hydropower Co., Ltd.

Utilities / Utilities - Regulated ElectricShanghai

$14.02

-0.49 (-3.38%)

Fairly Valued+0.0%Fair Value $14.02Fund rank 30/100 · Data gapFallback financials|
SA 35/D
F-Score: 5/9
Low Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 25% · confianza 25%

FCF escenarios

weak_data · normalized FCF $400.1M · quality 51.7/100

Data gap 30/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 62/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

35/100

D

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 1unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified. ROE is 3.1%, below the 5% threshold
Thesis & Journal · 600292.SSLocal privado en este navegador · SPIC Hydropower Co., Ltd.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$61.4B

P/E

77.9x

↑

EV/EBITDA

15.3x

↑

ROE

3.1%

↓

Gross Margin

30.3%

↑

Debt/Equity

1.69

↑
52-Week Range$14
$12$19

TradingView lightweight chart

600292.SS price, volumen y niveles de valoración

Último $14.02Periodo +85.9%
Fair value: $14.02

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+43.2%

FCF CAGR

+48.7%

FCF margin

4.9%

FCF / Net income

1.11x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $12.15B · net income $532.2M · FCF $590.5M

2022-FY → 2025-FY

Gross margin

30.3%+17.2% pts

Operating margin

22.2%+19.0% pts

Net margin

4.4%+5.1% pts

FCF margin

4.9%+0.5% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$12.15B$12.15B$14.45B$4.25B$4.14B
Net Income$532.2M$532.2M$807.2M$54.0M$-28.1M
EBITDA$5.89B$5.89B$6.13B$597.0M$539.8M
EPS0.120.120.180.07-0.04
Gross Margin30.3%30.3%30.9%14.6%13.0%
Operating Margin22.2%22.2%25.2%4.8%3.2%
Net Margin4.4%4.4%5.6%1.3%-0.7%
Balance Sheet
Debt/Equity1.691.692.850.330.43
Current Ratio0.570.57———
Cash Flow
Free Cash Flow$590.5M$590.5M$330.4M$400.1M$179.4M
Returns
ROE3.1%3.1%4.9%1.1%-0.6%
Valuation
P/E77.8977.8967.7889.57—
EV/EBITDA15.2915.2916.349.7310.38
P/B3.653.653.340.940.79
Growth & Yield
Revenue Growth-15.9%-15.9%239.9%2.8%—
EPS Growth-33.3%-33.3%157.1%275.0%—
Dividend Yield0.4%0.4%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

118.0%

muy exigente

EPS terminal req.

$1.24

Spread vs growth

-151.4%

5Y implied EPS CAGR

65.8%

muy exigente

EPS terminal req.

$1.51

Spread vs growth

-99.2%

10Y implied EPS CAGR

35.1%

muy exigente

EPS terminal req.

$2.42

Spread vs growth

-68.4%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +7.7%

Total return

+7.7%

Start / end P/E

72.6x → 116.8x

EPS bridge

0.18 → 0.12

Residual

-20.3%

EPS growth-33.3%
Multiple rerating+60.9%
Dividend+0.4%
Residual / FX / buybacks / cross-term-20.3%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.