Shenzhen Expressway Valuation

Q: What is the Fair Price of 600548 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600548 (CN¥11.38) is trading below our estimate of [[fair value]] (CN¥16.29)

Is 600548 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

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 600548 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600548 (CN¥11.38) is trading below our estimate of fair value (CN¥16.29)

Significantly Below Fair Value: 600548 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600548?

Key metric: As 600548 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600548. This is calculated by dividing 600548's market cap by their current earnings.
What is 600548's PE Ratio?
PE Ratio	6.6x
Earnings	CN¥2.16b
Market Cap	CN¥21.15b

600548 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/Revenue	6.6x
Enterprise Value/EBITDA	12.6x
PEG Ratio	0.5x

Price to Earnings Ratio vs Peers

How does 600548's PE Ratio compare to its peers?

The above table shows the PE ratio for 600548 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	23.2x
000429 Guangdong Provincial Expressway Development	14.9x	1.6%	CN¥22.8b
000927 China Railway Materials	36.2x	n/a	CN¥17.3b
000828 Dongguan Development (Holdings)	19.4x	n/a	CN¥11.5b
000088 Shenzhen Yan Tian Port HoldingsLtd	22.4x	n/a	CN¥26.2b
600548 Shenzhen Expressway	6.6x	14.1%	CN¥22.7b

Price-To-Earnings vs Peers: 600548 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (23.2x).

Price to Earnings Ratio vs Industry

How does 600548's PE Ratio compare vs other companies in the CN Infrastructure Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 600548 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the CN Infrastructure industry average (15.6x).

Price to Earnings Ratio vs Fair Ratio

What is 600548'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.

600548 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.6x
Fair PE Ratio	17.3x

Price-To-Earnings vs Fair Ratio: 600548 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (17.3x).

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.