Shandong Hi-Speed Holdings Group Valuation

Q: What is the Fair Price of 412 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

412 (HK$5.5) is trading below our estimate of [[fair value]] (HK$5.74)

Is 412 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 412 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 412 (HK$5.5) is trading below our estimate of fair value (HK$5.74)

Significantly Below Fair Value: 412 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 412?

Key metric: As 412 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 412. This is calculated by dividing 412's market cap by their current revenue.
What is 412's PS Ratio?
PS Ratio	6x
Sales	HK$5.52b
Market Cap	HK$33.11b

412 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	14.5x
Enterprise Value/EBITDA	24.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 412's PS Ratio compare to its peers?

The above table shows the PS ratio for 412 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.9x
1798 China Datang Corporation Renewable Power	1x	11.4%	HK$14.0b
916 China Longyuan Power Group	1.4x	8.6%	HK$114.0b
1381 Canvest Environmental Protection Group	2.6x	10.5%	HK$10.5b
3868 Xinyi Energy Holdings	2.7x	9.7%	HK$6.5b
412 Shandong Hi-Speed Holdings Group	6x	n/a	HK$33.1b

Price-To-Sales vs Peers: 412 is expensive based on its Price-To-Sales Ratio (6x) compared to the peer average (1.9x).

Price to Sales Ratio vs Industry

How does 412's PS Ratio compare vs other companies in the HK Renewable Energy Industry?

0 Companies	Price / Sales	Estimated Growth	Market Cap

No more companies available in this PS range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 412 is expensive based on its Price-To-Sales Ratio (6x) compared to the Hong Kong Renewable Energy industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 412'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.

412 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	6x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 412's Price-To-Sales 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.

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