FSGCY (First Gen) Construction In Progress: $232.5 Mil (As of Mar. 2026)


FSGCY First Gen Corp FSGCY
56 GF Score
Price $5.35
GF Value $2.05
Valuation Significantly Overvalued
! 9 Warning Signs
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What is First Gen Construction In Progress?

First Gen FSGCY 56 Construction In Progress is $232.5 Mil as of Mar. 2026. GuruFocus rates FSGCY with a GF Score™ of 56/100 and a GF Value™ of $2.05 (Significantly Overvalued). The stock has 9 warning signs investors should review.

First Gen's quarterly construction in progress declined from Sep. 2025 ($481.2 Mil) to Dec. 2025 ($284.9 Mil) and declined from Dec. 2025 ($284.9 Mil) to Mar. 2026 ($232.5 Mil).

First Gen's annual construction in progress increased from Dec. 2023 ($683.8 Mil) to Dec. 2024 ($766.2 Mil) but then declined from Dec. 2024 ($766.2 Mil) to Dec. 2025 ($284.9 Mil).

First Gen Construction In Progress Historical Data

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The historical data trend for First Gen's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First Gen Construction In Progress Chart

First Gen Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Construction In Progress
Get a 7-Day Free Trial Premium Member Only Premium Member Only 351.13 441.96 683.77 766.22 284.85

First Gen Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 697.26 647.35 481.15 284.85 232.48
FSGCY
56GF Score
First Gen Corp FSGCY
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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First Gen Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of $232.5 Mil mean?
First Gen (FSGCY) has a Construction In Progress of $232.5 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on First Gen and its competitors.
Is First Gen's Construction In Progress too high?
First Gen's current Construction In Progress is $232.5 Mil. Overall, First Gen has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Gen's Construction In Progress compare to competitors?
First Gen's Construction In Progress of $232.5 Mil can be compared against companies in the Utilities - Independent Power Producers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for an Utilities - Independent Power Producers company?
A good Construction In Progress depends on the Utilities - Independent Power Producers industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on First Gen and its competitors. First Gen's current Construction In Progress is $232.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Gen stock overvalued right now?
Based on GuruFocus' analysis, First Gen (FSGCY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.05, compared to a current price of $5.35 — trading 161% above its estimated fair value. The current Construction In Progress is $232.5 Mil. First Gen's overall GF Score™ is 56/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For First Gen (FSGCY), the current Construction In Progress is $232.5 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Gen (FSGCY) Overvalued in 2026?

Based on GuruFocus' analysis, First Gen stock appears to be overvalued. The current stock price of $5.35 is trading 161% above its estimated GF Value™ of $2.05. GuruFocus considers First Gen to be Significantly Overvalued.

Key valuation signals for FSGCY:

  • Construction In Progress: $232.5 Mil
  • GF Value™: $2.05 vs. price of $5.35 (161% above fair value)
  • GF Score™: 56/100 with 9 warning signs

No single metric tells the full story. See the FSGCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

First Gen Business Description

Other Exchanges FGEN:Philippines
Address Ortigas Avenue, 6th Floor, Rockwell Business Center, Tower 3, Pasig, PHL, 1604
First Gen Corp is an independent electric utility company operating in the Philippines. First Gen develops, finances, builds, bids for, and operate power generation projects. The company generates a amount of Filipino energy needs through its portfolio of natural gas, wind, solar, hydro, and geothermal power plants located in the country. Majority of the power generated by First Gen is produced through natural gas and geothermal fuel sources. It operates in six segments: FGPC, FGP, EDC and Subsidiaries, FGEN LNG, FNPC, and Prime Meridian. The company only operates in Philippines.
56GF Score

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Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$5.35
Price
$2.05
GF Value