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China Merchants Expressway Network & Technology Holdings

Market Cap

CN¥47.3b

Last Updated

2021/04/11 09:08 UTC

Data Sources

Company Financials +

Executive Summary

China Merchants Expressway Network & Technology Holdings Co., Ltd. More Details


Snowflake Analysis

Average dividend payer and fair value.

Share Price & News

How has China Merchants Expressway Network & Technology Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 001965 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 001965's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

0.7%

1965

-0.4%

CN Infrastructure

-1.1%

CN Market


1 Year Return

10.1%

1965

4.8%

CN Infrastructure

28.4%

CN Market

Return vs Industry: 001965 exceeded the CN Infrastructure industry which returned 6.6% over the past year.

Return vs Market: 001965 underperformed the CN Market which returned 27.4% over the past year.


Shareholder returns

1965IndustryMarket
7 Day0.7%-0.4%-1.1%
30 Day3.1%0.6%1.0%
90 Day6.0%-3.8%-5.8%
1 Year14.4%10.1%7.7%4.8%30.4%28.4%
3 Year-8.0%-16.4%-12.1%-17.9%25.9%19.9%
5 Yearn/a-2.9%-13.2%23.6%15.5%

Long-Term Price Volatility Vs. Market

How volatile is China Merchants Expressway Network & Technology Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is China Merchants Expressway Network & Technology Holdings undervalued compared to its fair value and its price relative to the market?

21.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 001965 (CN¥7.65) is trading above our estimate of fair value (CN¥3.59)

Significantly Below Fair Value: 001965 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 001965 is poor value based on its PE Ratio (21.7x) compared to the CN Infrastructure industry average (21x).

PE vs Market: 001965 is good value based on its PE Ratio (21.7x) compared to the CN market (34.5x).


Price to Earnings Growth Ratio

PEG Ratio: 001965 is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: 001965 is good value based on its PB Ratio (0.9x) compared to the CN Infrastructure industry average (1x).


Future Growth

How is China Merchants Expressway Network & Technology Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

24.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 001965's forecast earnings growth (24.9% per year) is above the savings rate (3.3%).

Earnings vs Market: 001965's earnings (24.9% per year) are forecast to grow faster than the CN market (23.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 001965's revenue (12.6% per year) is forecast to grow slower than the CN market (18% per year).

High Growth Revenue: 001965's revenue (12.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 001965's Return on Equity is forecast to be low in 3 years time (8.5%).


Past Performance

How has China Merchants Expressway Network & Technology Holdings performed over the past 5 years?

-3.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 001965 has high quality earnings.

Growing Profit Margin: 001965's current net profit margins (31.4%) are lower than last year (52.7%).


Past Earnings Growth Analysis

Earnings Trend: 001965's earnings have declined by 3.3% per year over the past 5 years.

Accelerating Growth: 001965's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 001965 had negative earnings growth (-48.4%) over the past year, making it difficult to compare to the Infrastructure industry average (-28.6%).


Return on Equity

High ROE: 001965's Return on Equity (4.3%) is considered low.


Financial Health

How is China Merchants Expressway Network & Technology Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 001965's short term assets (CN¥10.9B) do not cover its short term liabilities (CN¥11.1B).

Long Term Liabilities: 001965's short term assets (CN¥10.9B) do not cover its long term liabilities (CN¥23.2B).


Debt to Equity History and Analysis

Debt Level: 001965's debt to equity ratio (42.9%) is considered high.

Reducing Debt: 001965's debt to equity ratio has increased from 25.1% to 42.9% over the past 5 years.

Debt Coverage: 001965's debt is not well covered by operating cash flow (12.5%).

Interest Coverage: 001965 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is China Merchants Expressway Network & Technology Holdings's current dividend yield, its reliability and sustainability?

2.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 001965's dividend (2.31%) is higher than the bottom 25% of dividend payers in the CN market (0.42%).

High Dividend: 001965's dividend (2.31%) is in the top 25% of dividend payers in the CN market (1.79%)


Stability and Growth of Payments

Stable Dividend: 001965 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 001965 has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (79.3%), 001965's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 001965's dividends in 3 years are forecast to be well covered by earnings (40.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Changsong Liu (43 yo)

2.25yrs

Tenure

Mr. Changsong Liu has been a Non-Independent Director at China Merchants Expressway Network & Technology Holdings Co., Ltd. since July 31, 2019 and serves as its General Manager Since January 30, 2019. He ...


Leadership Team

Experienced Management: 001965's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: 001965's board of directors are considered experienced (4.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

China Merchants Expressway Network & Technology Holdings Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Merchants Expressway Network & Technology Holdings Co., Ltd.
  • Ticker: 1965
  • Exchange: SZSE
  • Founded: 1965
  • Industry: Highways and Railtracks
  • Sector: Transportation
  • Market Cap: CN¥47.263b
  • Shares outstanding: 6.18b
  • Website: https://www.cmhighway.com

Number of Employees


Location

  • China Merchants Expressway Network & Technology Holdings Co., Ltd.
  • China Merchants Office Building
  • 31st Floor
  • Beijing
  • 100022
  • China

Listings


Biography

China Merchants Expressway Network & Technology Holdings Co., Ltd. invests in and operates expressways in China. The company operates expressways under the Jing-Jin-Tang Expressway, Bo Fu Expressway, Beilu...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/11 09:08
End of Day Share Price2021/04/09 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.