Shenzhen Expressway Corporation Limited

SEHK:548 Stock Report

Market Cap: HK$22.0b

Shenzhen Expressway Valuation

Is 548 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: 548 (HK$7.76) is trading below our estimate of fair value (HK$8.45)

Significantly Below Fair Value: 548 is trading below fair value, but not by a significant amount.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 548?

Other financial metrics that can be useful for relative valuation.

548 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/Revenue5.9x
Enterprise Value/EBITDA11.4x
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

How does 548's PE Ratio compare to its peers?

The above table shows the PE ratio for 548 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8x
152 Shenzhen International Holdings
8.6x16.2%HK$16.5b
576 Zhejiang Expressway
5.6x6.5%HK$30.6b
995 Anhui Expressway
9.1x7.2%HK$21.6b
107 Sichuan Expressway
8.9xn/aHK$15.4b
548 Shenzhen Expressway
6.7x9.6%HK$22.0b

Price-To-Earnings vs Peers: 548 is good value based on its Price-To-Earnings Ratio (6.7x) compared to the peer average (8x).


Price to Earnings Ratio vs Industry

How does 548's PE Ratio compare vs other companies in the HK Infrastructure Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.8%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.8%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: 548 is good value based on its Price-To-Earnings Ratio (6.7x) compared to the Hong Kong Infrastructure industry average (8x).


Price to Earnings Ratio vs Fair Ratio

What is 548'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.

548 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.7x
Fair PE Ratio8.6x

Price-To-Earnings vs Fair Ratio: 548 is good value based on its Price-To-Earnings Ratio (6.7x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).


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 548 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$7.76
HK$8.50
+9.5%
6.0%HK$9.01HK$7.80n/a3
Jun ’25HK$7.68
HK$8.50
+10.6%
6.0%HK$9.01HK$7.80n/a3
May ’25HK$7.14
HK$8.50
+19.0%
6.0%HK$9.01HK$7.80n/a3
Apr ’25HK$6.84
HK$8.54
+24.9%
5.5%HK$9.03HK$7.90n/a3
Mar ’25HK$6.87
HK$8.82
+28.3%
8.6%HK$9.86HK$8.10n/a3
Feb ’25HK$6.23
HK$8.83
+41.7%
9.1%HK$9.92HK$8.02n/a3
Jan ’25HK$6.31
HK$8.73
+38.4%
8.1%HK$9.73HK$8.10n/a3
Dec ’24HK$6.28
HK$8.73
+39.0%
8.1%HK$9.73HK$8.10n/a3
Nov ’24HK$6.40
HK$8.84
+38.2%
6.9%HK$9.70HK$8.35n/a3
Oct ’24HK$6.40
HK$8.48
+32.5%
1.9%HK$8.70HK$8.33n/a3
Sep ’24HK$6.34
HK$8.48
+33.7%
1.9%HK$8.70HK$8.33n/a3
Aug ’24HK$6.75
HK$8.98
+33.1%
5.1%HK$9.41HK$8.35n/a3
Jul ’24HK$6.68
HK$9.09
+36.0%
4.9%HK$9.70HK$8.65n/a3
Jun ’24HK$6.46
HK$9.38
+45.2%
5.6%HK$10.10HK$8.88HK$7.683
May ’24HK$7.31
HK$9.20
+25.8%
3.0%HK$9.56HK$8.88HK$7.143
Apr ’24HK$6.98
HK$9.63
+37.9%
3.7%HK$10.07HK$9.20HK$6.843
Mar ’24HK$7.31
HK$9.98
+36.5%
2.7%HK$10.33HK$9.70HK$6.873
Feb ’24HK$7.23
HK$9.79
+35.4%
0.9%HK$9.90HK$9.70HK$6.233
Jan ’24HK$6.73
HK$9.79
+45.4%
0.9%HK$9.90HK$9.70HK$6.313
Dec ’23HK$6.62
HK$9.79
+47.8%
0.9%HK$9.90HK$9.70HK$6.283
Nov ’23HK$5.88
HK$9.79
+66.4%
0.9%HK$9.90HK$9.70HK$6.403
Oct ’23HK$5.74
HK$10.01
+74.3%
1.5%HK$10.16HK$9.80HK$6.403
Sep ’23HK$6.82
HK$10.33
+51.5%
1.6%HK$10.50HK$10.10HK$6.343
Aug ’23HK$7.18
HK$10.99
+53.1%
0.7%HK$11.10HK$10.93HK$6.753
Jul ’23HK$8.15
HK$10.73
+31.6%
1.7%HK$10.97HK$10.52HK$6.683
Jun ’23HK$8.36
HK$10.73
+28.3%
1.7%HK$10.97HK$10.52HK$6.463

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


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