Sichuan Expressway Valuation

Q: What is the Fair Price of EXF1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

EXF1 (€0.36) is trading above our estimate of [[fair value]] (€0.24)

Is EXF1 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-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 EXF1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EXF1 (€0.36) is trading above our estimate of fair value (€0.24)

Significantly Below Fair Value: EXF1 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EXF1?

Key metric: As EXF1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EXF1. This is calculated by dividing EXF1's market cap by their current earnings.
What is EXF1's PE Ratio?
PE Ratio	7.4x
Earnings	CN¥1.19b
Market Cap	CN¥13.73b

EXF1 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	4.8x
Enterprise Value/EBITDA	14.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does EXF1's PE Ratio compare to its peers?

The above table shows the PE ratio for EXF1 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	20x
HHFA Hamburger Hafen und Logistik	45x	55.0%	€1.4b
FRA Fraport	10.5x	3.7%	€4.8b
SIX2 Sixt	13.8x	16.3%	€3.0b
EUK3 EUROKAI GmbH KGaA	10.6x	13.5%	€418.9m
EXF1 Sichuan Expressway	7.4x	n/a	€14.8b

Price-To-Earnings vs Peers: EXF1 is good value based on its Price-To-Earnings Ratio (7.4x) compared to the peer average (20x).

Price to Earnings Ratio vs Industry

How does EXF1's PE Ratio compare vs other companies in the European Infrastructure Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: EXF1 is good value based on its Price-To-Earnings Ratio (7.4x) compared to the European Infrastructure industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is EXF1'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.

EXF1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EXF1's Price-To-Earnings 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.