Hainan Meilan International Airport Company Limited

DB:HAO Stock Report

Market Cap: €488.2m

Hainan Meilan International Airport Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Discounted Cash Flow
Simply Wall St
€0.013
Fair Value
7.4k% overvalued intrinsic discount
4
Number of Analysts

Below Fair Value: HAO (€0.98) is trading above our estimate of fair value (€0.01)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for HAO. This is calculated by dividing HAO's market cap by their current revenue.
What is HAO's PS Ratio?
PS Ratio1.7x
SalesCN¥2.17b
Market CapCN¥3.67b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HAO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
FRA Fraport
1.2x2.3%€5.2b
EUK3 EUROKAI GmbH KGaA
2x4.6%€480.9m
HHFA Hamburger Hafen und Logistik
0.8x5.2%€1.3b
TGHN Logwin
0.5x2.6%€673.7m
HAO Hainan Meilan International Airport
1.7x14.2%€3.9b

Price-To-Sales vs Peers: HAO is expensive based on its Price-To-Sales Ratio (1.7x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does HAO's PS Ratio compare vs other companies in the European Infrastructure Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
HAO 1.7xIndustry Avg. 1.9xNo. of Companies8PS0246810+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HAO is good value based on its Price-To-Sales Ratio (1.7x) compared to the European Infrastructure industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is HAO'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.

HAO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.7x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: HAO is expensive based on its Price-To-Sales Ratio (1.7x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

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 HAO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.97
€1.13
+15.8%
21.6%€1.45€0.77n/a4
Jan ’26€1.07
€1.13
+5.5%
21.6%€1.45€0.77n/a4
Dec ’25€0.99
€1.14
+14.9%
21.8%€1.46€0.77n/a4
Nov ’25€1.02
€1.00
-1.6%
28.5%€1.43€0.73n/a4
Oct ’25€1.00
€1.10
+10.1%
31.9%€1.60€0.71n/a5
Sep ’25€0.74
€1.10
+48.8%
31.9%€1.60€0.71n/a5
Aug ’25€0.85
€1.14
+34.0%
30.5%€1.62€0.73n/a5
Jul ’25€0.87
€1.16
+33.4%
27.2%€1.61€0.78n/a5
Jun ’25€1.06
€1.16
+9.5%
27.2%€1.61€0.78n/a5
May ’25€0.86
€1.14
+32.4%
32.5%€1.64€0.67n/a5
Apr ’25€0.79
€1.23
+56.3%
27.0%€1.66€0.84n/a6
Mar ’25€0.81
€1.37
+67.8%
26.6%€1.78€0.83n/a7
Feb ’25€0.66
€1.34
+103.5%
26.1%€1.78€0.83n/a6
Jan ’25€0.79
€1.34
+71.1%
26.1%€1.78€0.83€1.076
Dec ’24€0.78
€1.49
+92.3%
30.7%€2.32€0.91€0.997
Nov ’24€0.80
€1.73
+116.2%
38.2%€3.10€0.93€1.028
Oct ’24€0.85
€1.73
+102.3%
38.2%€3.10€0.93€1.008
Sep ’24€0.88
€2.47
+180.7%
41.2%€4.10€0.92€0.7410
Aug ’24€1.36
€3.06
+124.9%
21.4%€4.08€1.88€0.8510
Jul ’24€1.13
€3.11
+175.3%
21.8%€4.19€1.93€0.8710
Jun ’24€1.55
€3.19
+105.5%
20.2%€4.22€1.95€1.0610
May ’24€1.88
€3.31
+75.9%
14.4%€4.23€2.84€0.8610
Apr ’24€2.22
€3.37
+51.8%
15.2%€4.30€2.89€0.799
Mar ’24€2.46
€3.49
+41.9%
14.3%€4.40€2.96€0.818
Feb ’24€2.58
€3.48
+34.8%
13.9%€4.37€2.94€0.668
Jan ’24€2.78
€3.22
+15.9%
6.3%€3.56€2.92€0.797
Analyst Price Target
Consensus Narrative from 4 Analysts
€1.10
Fair Value
11.3% undervalued intrinsic discount
4
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/12 07:38
End of Day Share Price 2025/01/10 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Hainan Meilan International Airport Company Limited is covered by 22 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jianping DUBOCI Research Ltd.
Nathan GeeBofA Global Research
Gary TsangBofA Global Research