Guangzhou Baiyun International Airport Company Limited

SHSE:600004 Stock Report

Market Cap: CN¥24.8b

Guangzhou Baiyun International Airport Valuation

Is 600004 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600004 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600004 (CN¥10.46) is trading below our estimate of fair value (CN¥13.71)

Significantly Below Fair Value: 600004 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600004?

Other financial metrics that can be useful for relative valuation.

600004 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.3x
Enterprise Value/EBITDA9.9x
PEG Ratio2.6x

Price to Earnings Ratio vs Peers

How does 600004's PE Ratio compare to its peers?

The above table shows the PE ratio for 600004 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average52.4x
000089 Shenzhen Airport
23.2x12.1%CN¥14.5b
002023 Sichuan Haite High-techLtd
113.1x29.0%CN¥7.4b
600897 Xiamen International AirportLtd
14x13.9%CN¥6.1b
600009 Shanghai International Airport
59.1x36.8%CN¥95.6b
600004 Guangzhou Baiyun International Airport
34.3x13.0%CN¥24.8b

Price-To-Earnings vs Peers: 600004 is good value based on its Price-To-Earnings Ratio (34.3x) compared to the peer average (52.4x).


Price to Earnings Ratio vs Industry

How does 600004's PE Ratio compare vs other companies in the CN Infrastructure Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.1%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.1%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: 600004 is expensive based on its Price-To-Earnings Ratio (34.3x) compared to the CN Infrastructure industry average (16.1x).


Price to Earnings Ratio vs Fair Ratio

What is 600004's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600004 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio34.3x
Fair PE Ratio17.6x

Price-To-Earnings vs Fair Ratio: 600004 is expensive based on its Price-To-Earnings Ratio (34.3x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).


Analyst Price Targets

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

The above table shows the analyst 600004 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥10.46
CN¥11.71
+12.0%
21.9%CN¥16.40CN¥8.20n/a10
Sep ’25CN¥9.13
CN¥12.19
+33.5%
19.2%CN¥16.40CN¥9.10n/a10
Aug ’25CN¥9.62
CN¥12.53
+30.2%
17.9%CN¥16.40CN¥9.10n/a10
Jul ’25CN¥9.52
CN¥12.43
+30.6%
18.0%CN¥16.40CN¥9.10n/a10
Jun ’25CN¥10.14
CN¥12.56
+23.9%
17.5%CN¥16.40CN¥9.10n/a10
May ’25CN¥10.35
CN¥13.11
+26.7%
24.2%CN¥20.00CN¥9.10n/a10
Apr ’25CN¥10.36
CN¥13.44
+29.8%
24.4%CN¥20.00CN¥9.00n/a9
Mar ’25CN¥10.07
CN¥14.22
+41.2%
24.7%CN¥20.00CN¥9.00n/a9
Feb ’25CN¥9.28
CN¥14.36
+54.7%
23.2%CN¥20.00CN¥10.20n/a9
Jan ’25CN¥9.78
CN¥14.51
+48.4%
22.6%CN¥20.00CN¥10.20n/a9
Dec ’24CN¥10.82
CN¥16.00
+47.9%
20.8%CN¥20.00CN¥10.20n/a10
Nov ’24CN¥10.62
CN¥16.00
+50.7%
20.8%CN¥20.00CN¥10.20n/a10
Oct ’24CN¥11.20
CN¥16.32
+45.7%
19.0%CN¥20.00CN¥10.60CN¥10.4610
Sep ’24CN¥11.90
CN¥16.74
+40.6%
13.9%CN¥20.00CN¥12.00CN¥9.1311
Aug ’24CN¥14.47
CN¥17.22
+19.0%
12.8%CN¥20.00CN¥12.00CN¥9.6211
Jul ’24CN¥14.34
CN¥17.13
+19.4%
12.8%CN¥20.00CN¥12.00CN¥9.5211
Jun ’24CN¥13.77
CN¥17.13
+24.4%
12.8%CN¥20.00CN¥12.00CN¥10.1411
May ’24CN¥15.68
CN¥17.09
+9.0%
14.0%CN¥21.00CN¥12.00CN¥10.3510
Apr ’24CN¥15.63
CN¥16.40
+4.9%
15.4%CN¥21.00CN¥11.30CN¥10.3610
Mar ’24CN¥14.31
CN¥16.06
+12.2%
13.0%CN¥18.50CN¥11.30CN¥10.0710
Feb ’24CN¥13.96
CN¥15.99
+14.5%
13.0%CN¥18.50CN¥11.30CN¥9.2810
Jan ’24CN¥15.01
CN¥15.18
+1.1%
15.6%CN¥18.50CN¥11.20CN¥9.7810
Dec ’23CN¥14.43
CN¥14.89
+3.2%
15.5%CN¥18.50CN¥11.20CN¥10.8210
Nov ’23CN¥15.22
CN¥14.67
-3.6%
16.5%CN¥19.00CN¥11.20CN¥10.6211
Oct ’23CN¥14.26
CN¥14.07
-1.3%
14.7%CN¥19.00CN¥11.00CN¥11.2011

Analyst Forecast: Target price is less than 20% higher than the current share price.


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