FGEN just 8% below 52-week high but still priced below book value

FGEN and subsidiaries including geothermal operator Energy Development Corporation reported a 2020 financial result showing resiliency against the pandemic. The FGEN Group ended 2020 with a cash balance of US$ 772.2 Million, US$148.3 Million higher than at the end of the preceding year.

Short-term and current debts total to just US$464.3 Million. Servicing its debt will be of little concern as the FGEN Group generates strong cash flows from operations. In 2020, cash flow from operations was US$602.5 Million while capital expenditures for property, plant, and equipment was only US$147 Million.

Foreign exchange gains boosted its 2020 comprehensive income to US$503.2 Million as compared to just US$477.7 Million in 2019.

On 9 April 2020, FGEN closed at 31 just 8% below its 52-week high. But still at that price it is still valued below its book value. At that price, its Price/Book Value ratio is just at 0.8257 and its Price/Earnings ratio is just at 8.76. FGEN’s valuation is way below its peers.

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