Chinese (SSE) Highways and Railtracks Industry Analysis

Industry Valuation and Performance

Has the Chinese Highways and Railtracks Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 12 May 2026	CN¥538.1b	CN¥162.8b	CN¥32.8b	16.1x	16.4x	3.3x
Thu, 09 Apr 2026	CN¥538.6b	CN¥162.4b	CN¥33.5b	14.9x	16.1x	3.3x
Sat, 07 Mar 2026	CN¥541.7b	CN¥164.4b	CN¥34.2b	14.3x	15.9x	3.3x
Mon, 02 Feb 2026	CN¥292.5b	CN¥121.8b	CN¥21.1b	14.1x	13.9x	2.4x
Wed, 31 Dec 2025	CN¥292.9b	CN¥121.3b	CN¥21.5b	14.3x	13.6x	2.4x
Fri, 28 Nov 2025	CN¥293.2b	CN¥121.3b	CN¥21.5b	14.1x	13.6x	2.4x
Sun, 26 Oct 2025	CN¥295.6b	CN¥125.4b	CN¥21.0b	13.9x	14.1x	2.4x
Tue, 23 Sep 2025	CN¥257.9b	CN¥117.9b	CN¥19.2b	12.8x	13.4x	2.2x
Thu, 21 Aug 2025	CN¥277.9b	CN¥120.6b	CN¥19.3b	14.1x	14.4x	2.3x
Sat, 19 Jul 2025	CN¥290.0b	CN¥120.5b	CN¥19.2b	15.2x	15.1x	2.4x
Mon, 16 Jun 2025	CN¥297.4b	CN¥120.5b	CN¥19.2b	15.6x	15.5x	2.5x
Wed, 14 May 2025	CN¥301.4b	CN¥120.6b	CN¥19.2b	16.2x	15.7x	2.5x
Fri, 11 Apr 2025	CN¥296.2b	CN¥121.4b	CN¥18.9b	15.9x	15.6x	2.4x
Sun, 09 Mar 2025	CN¥293.0b	CN¥124.8b	CN¥19.7b	14.9x	14.9x	2.3x
Tue, 04 Feb 2025	CN¥291.5b	CN¥124.1b	CN¥19.8b	15.2x	14.7x	2.3x
Thu, 02 Jan 2025	CN¥308.1b	CN¥124.1b	CN¥19.8b	15.2x	15.6x	2.5x
Sat, 30 Nov 2024	CN¥286.0b	CN¥124.1b	CN¥19.8b	15x	14.4x	2.3x
Mon, 28 Oct 2024	CN¥271.7b	CN¥123.7b	CN¥20.0b	13.5x	13.6x	2.2x
Wed, 25 Sep 2024	CN¥259.4b	CN¥124.2b	CN¥19.7b	12.6x	13.1x	2.1x
Fri, 23 Aug 2024	CN¥273.1b	CN¥125.5b	CN¥20.3b	12.9x	13.5x	2.2x
Sun, 21 Jul 2024	CN¥259.4b	CN¥125.4b	CN¥20.3b	12.5x	12.8x	2.1x
Tue, 18 Jun 2024	CN¥253.7b	CN¥125.4b	CN¥20.3b	12.6x	12.5x	2x
Thu, 16 May 2024	CN¥263.8b	CN¥125.4b	CN¥20.3b	13.2x	13x	2.1x
Sat, 13 Apr 2024	CN¥263.5b	CN¥123.5b	CN¥19.7b	13x	13.4x	2.1x
Mon, 11 Mar 2024	CN¥247.2b	CN¥126.8b	CN¥17.6b	13.9x	14.1x	1.9x
Wed, 07 Feb 2024	CN¥231.8b	CN¥126.8b	CN¥17.6b	13.2x	13.2x	1.8x
Fri, 05 Jan 2024	CN¥230.8b	CN¥126.5b	CN¥17.2b	14.8x	13.4x	1.8x
Sun, 03 Dec 2023	CN¥221.8b	CN¥126.9b	CN¥17.4b	14.4x	12.8x	1.7x
Tue, 31 Oct 2023	CN¥213.6b	CN¥126.6b	CN¥16.9b	14.6x	12.7x	1.7x
Thu, 28 Sep 2023	CN¥218.8b	CN¥128.5b	CN¥16.4b	13.3x	13.4x	1.7x
Sat, 26 Aug 2023	CN¥213.7b	CN¥131.0b	CN¥15.9b	14x	13.5x	1.6x
Mon, 24 Jul 2023	CN¥210.2b	CN¥132.3b	CN¥15.7b	13.9x	13.4x	1.6x
Wed, 21 Jun 2023	CN¥203.8b	CN¥131.8b	CN¥15.2b	13.5x	13.4x	1.5x
Fri, 19 May 2023	CN¥221.1b	CN¥131.9b	CN¥15.2b	14.8x	14.5x	1.7x

Current Industry PE

Investors are optimistic on the Chinese Highways and Railtracks industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 16.3x which is higher than its 3-year average PE of 14.1x.

The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 3.3x.

Past Earnings Growth

The earnings for companies in the Highways and Railtracks industry have grown 29% per year over the last three years.
Revenues for these companies have grown 7.3% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Chinese Highways and Railtracks compare with similar industries?


CN Market	4.74%
Industrials	4.91%
Infrastructure	1.58%
Highways and Railtracks	0.96%
Marine Ports and Services	2.79%
Airport Services	0.21%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Company	Last Price	7D	1Y	Valuation
601816 Beijing-Shanghai High-Speed Railway	CN¥5.05	3.1% +CN¥7.3b	-14.7%	PE18.5x
600350 Shandong Hi-speed	CN¥11.23	5.0% +CN¥2.6b	3.9%	PE16.8x
001965 China Merchants Expressway Network & Technology HoldingsLtd	CN¥9.71	3.3% +CN¥2.1b	-26.0%	PE14.3x
000429 Guangdong Provincial Expressway Development	CN¥13.07	3.9% +CN¥1.0b	-7.6%	PE17.1x
600012 Anhui Expressway	CN¥16.04	2.4% +CN¥649.3m	-8.1%	PE14.7x

Company

Last Price

Valuation

601816 Beijing-Shanghai High-Speed Railway

CN¥5.05

3.1%
+CN¥7.3b

-14.7%

PE18.5x

600350 Shandong Hi-speed

CN¥11.23

5.0%
+CN¥2.6b

3.9%

PE16.8x

001965 China Merchants Expressway Network & Technology HoldingsLtd

CN¥9.71

3.3%
+CN¥2.1b

-26.0%

PE14.3x

000429 Guangdong Provincial Expressway Development

CN¥13.07

3.9%
+CN¥1.0b

-7.6%

PE17.1x

600012 Anhui Expressway

CN¥16.04

2.4%
+CN¥649.3m

-8.1%

PE14.7x

New major risk - Earnings quality

The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.9% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks High level of debt (48% net debt to equity). Paying a dividend despite having no free cash flows.

Chinese (SSE) Highways and Railtracks Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

New minor risk - Profit margin trend

First quarter 2026 earnings released: EPS: CN¥0.31 (vs CN¥0.33 in 1Q 2025)

First quarter 2026 earnings released: EPS: CN¥0.22 (vs CN¥0.31 in 1Q 2025)

China Railway Materials Company Limited, Annual General Meeting, May 18, 2026

New major risk - Earnings quality

First quarter 2026 earnings released: EPS: CN¥0.07 (vs CN¥0.06 in 1Q 2025)

Full year 2025 earnings: Revenues and EPS in line with analyst expectations

New major risk - Dividend sustainability

Consensus revenue estimates increase by 17%, EPS downgraded

Full year 2025 earnings released: EPS: CN¥0.24 (vs CN¥0.19 in FY 2024)

Full year 2025 earnings released: EPS: CN¥0.55 (vs CN¥0.54 in FY 2024)

New minor risk - Earnings quality

Dongguan Development (Holdings) Co., Ltd. to Report Q1, 2026 Results on Apr 27, 2026