Qilu Expressway Valuation

Is Z5E 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 Z5E when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Z5E (€0.25) is trading above our estimate of fair value (€0.21)

Significantly Below Fair Value: Z5E is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for Z5E?

Key metric: As Z5E is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for Z5E. This is calculated by dividing Z5E's market cap by their current earnings.
What is Z5E's PE Ratio?
PE Ratio	9x
Earnings	CN¥473.38m
Market Cap	CN¥4.26b

Z5E 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	1.9x
Enterprise Value/EBITDA	14.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does Z5E's PE Ratio compare to its peers?

The above table shows the PE ratio for Z5E 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	18.7x
EUK3 EUROKAI GmbH KGaA	10.4x	13.5%	€418.9m
HHFA Hamburger Hafen und Logistik	43.4x	55.0%	€1.4b
TGHN Logwin	10.2x	-7.4%	€719.8m
FRA Fraport	10.6x	3.7%	€4.9b
Z5E Qilu Expressway	9x	n/a	€4.6b

Price-To-Earnings vs Peers: Z5E is good value based on its Price-To-Earnings Ratio (9x) compared to the peer average (18.7x).

Price to Earnings Ratio vs Industry

How does Z5E'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: Z5E is good value based on its Price-To-Earnings Ratio (9x) compared to the European Infrastructure industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is Z5E'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.

Z5E PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate Z5E'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.