Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.

SZSE:200029 Stock Report

Market Cap: HK$14.9b

Shenzhen Special Economic Zone Real Estate & Properties (Group) Valuation

Is 200029 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 200029 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 200029 (HK$2.9) is trading below our estimate of fair value (HK$31.61)

Significantly Below Fair Value: 200029 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 200029?

Key metric: As 200029 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 200029. This is calculated by dividing 200029's market cap by their current revenue.
What is 200029's PS Ratio?
PS Ratio40x
SalesCN¥384.80m
Market CapCN¥13.90b

Price to Sales Ratio vs Peers

How does 200029's PS Ratio compare to its peers?

The above table shows the PS ratio for 200029 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
600649 Shanghai Chengtou HoldingLtd
5.6x48.5%CN¥11.4b
000537 China Green Electricity Investment of Tianjin
5.1x39.6%CN¥19.2b
600657 Cinda Real Estate
1.2xn/aCN¥13.2b
600708 Bright Real Estate GroupLimited
1.4xn/aCN¥8.8b
200029 Shenzhen Special Economic Zone Real Estate & Properties (Group)
40xn/aHK$13.9b

Price-To-Sales vs Peers: 200029 is expensive based on its Price-To-Sales Ratio (40x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

How does 200029's PS Ratio compare vs other companies in the CN Real Estate Industry?

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
600048 Poly Developments and Holdings Group
0.3x-2.6%US$15.94b
000002 China Vanke
0.3x-10.4%US$12.97b
600606 Greenland Holdings
0.1x-16.9%US$4.35b
601155 Seazen Holdings
0.3x-16.9%US$4.05b
200029 40.0xIndustry Avg. 2.3xNo. of Companies32PS0246810+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 200029 is expensive based on its Price-To-Sales Ratio (40x) compared to the CN Real Estate industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is 200029's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

200029 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio40x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 200029's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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