Shandong Hi-Speed Road&Bridge (000498) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Shandong Hi-Speed Road&Bridge stock ¥8.72, price ¥6.63, upside +31.5%, quality 36 out of 100. Rating: undervalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ¥4.07 – ¥10.13 · fair‑value band ¥8.17 – ¥13.35 · the ¥6.63 price screens below the ¥8.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Shandong Hi-Speed Road&Bridge Group Co., Ltd. engages in the general contracting business in China and internationally.
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The company involved in the general contracting for road and municipal, water conservancy and hydropower, power engineering, railway, and electromechanical construction; professional construction contracting for roadbed, pavement, bridges, tunnels, and steel structures; wholesale industry; computer equipment manufacturing; trade services; warehousing and logistics; Professional technical services; Capital Market Services; Import and export of goods; and maintenance project, railway engineering, housing construction project, equipment manufacturing, and design consultation activities.
It also offers engineering survey, mapping, design, supervision, consulting and other services. The company was formerly known as Shandong Hi-Speed Road & Bridge Co., Ltd. and changed its name to Shandong Hi-Speed Road&Bridge Group Co., Ltd. in January 2021.
Shandong Hi-Speed Road&Bridge Group Co., Ltd. was founded in 1948 and is based in Jinan, China.
Stock analysis
Shandong Hi-Speed Road&Bridge (000498) currently trades at ¥6.63, while our model-based Fair Value estimate is ¥8.72, implying the stock looks roughly 24% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥26.96 per share, and 17 of the 17 models we run sit above the ¥6.63 price.
Bear case: the Asset-Based group reads lowest at ¥7.58, and 0 of the 17 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥8.17 (bear) to ¥13.35 (bull), the price of ¥6.63 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Industrials sector.
Mixed Growth: Spin-off in 2006: revenue and profit before it include the divested business. Growth is measured afresh from 2006.
Shandong Hi-Speed Road&Bridge reported revenue of 68.6B CNY in FY2025 versus 57.5B CNY in FY2021, a compound +4.5%/yr. Reported net income was 2.2B CNY in FY2025, compounding +1.1%/yr from FY2021.
Key figures
Market cap 10.3B CNY (≈ $1.5B) Small · P/E ratio 9.3 · P/S ratio 0.16 · EPS (TTM) ¥0.7100 · Dividend yield 2.8% · Net margin 2.9% · Return on equity 7.4% · Return on assets (EBIT) 3.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 32%, 000498 screens cheaper than that median.
Fair Value models
Bear¥8.17Fair Value ¥8.72Bull¥13.35
Price ¥6.63 · Upside +31.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.4485 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income¥13.80¥14.74¥16.3476
EPV¥13.97¥16.77¥19.1373
ROIC Compounder¥13.97¥16.77¥22.0171
All 17 models by family
DCF Models
Owner Earnings¥4.60¥11.59¥22.5670
Earnings-Based
Graham-Dodd¥9.76¥44.75¥61.4264
Lynch FV¥11.75¥16.79¥21.8261
PEG = 1.0¥11.75¥16.79¥21.8257
EPV¥13.97¥16.77¥19.1373
Dividend Discount
Gordon GGM¥7.61¥14.20¥20.1667
DDM Multi-Stage¥7.61¥12.73¥15.1167
Multiples
P/E Multiple¥22.60¥30.13¥37.6663
P/S Multiple¥18.29¥24.39¥30.4957
P/B Multiple¥8.77¥11.69¥14.6155
EV/EBIT¥23.21¥34.23¥45.2464
EV/EBITDA¥18.54¥28.00¥37.4666
EV/Revenue¥13.75¥23.86¥33.9751
Asset-Based
NCAV (Graham)¥5.66¥7.58¥11.3253
Economic Profit
Residual Income¥13.80¥14.74¥16.3476
ROIC Compounder¥13.97¥16.77¥22.0171
Growth Earnings
Growth-Adj P/E¥18.87¥26.96¥35.0467
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2006: revenue and profit before it include the divested business. Growth is measured afresh from 2006.
Revenue growth 1 year
−3.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Start year 2020 (pandemic). Over 10 years: +24.9% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.0%
Dividend (yield on the price)2.8%
Per share before 2006divided by the spin-off factor 1.34
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.0% vs 15.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 9%
Compare Shandong Hi-Speed Road&Bridge with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside+31.5% · Above median
Profitability
Return on equity (12 months)7.4% · Above median
Return on assets1.2% · Below median
Net margin (12 months)2.9% · Below median
Operating margin (12 months)13.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−10.9% · Below median
Dividend yield (12 months)2.8% · Above median
Balance sheet
Debt / equity0.84× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is Shandong Hi-Speed Road&Bridge (000498) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥8.72 versus a price of ¥6.63, about +32% upside (undervalued).
What is the fair value of 000498?
Our model-based fair value for Shandong Hi-Speed Road&Bridge is ¥8.72 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥6.63.
What is the quality score of 000498?
Shandong Hi-Speed Road&Bridge has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shandong Hi-Speed Road&Bridge (000498)?
Our model-based price target is the fair value of ¥8.72 (as of Nov 7, 2026) from 17 valuation models. Cautious scenario ¥8.17, optimistic scenario ¥13.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Shandong Hi-Speed Road&Bridge stock forecast for 2026?
Our models put fair value at ¥8.72, about +32% upside versus a price of ¥6.63 (undervalued). Cautious scenario ¥8.17, optimistic scenario ¥13.35. The calculation is refreshed regularly with new filings.
What is the revenue of Shandong Hi-Speed Road&Bridge (000498)?
Shandong Hi-Speed Road&Bridge reported trailing-twelve-month revenue of about 64.0B CNY (latest available figure, as of Nov 7, 2026).
Does Shandong Hi-Speed Road&Bridge pay a dividend?
Shandong Hi-Speed Road&Bridge currently shows a dividend yield of 2.82% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Shandong Hi-Speed Road&Bridge (000498) and when is the ex-dividend date?
Shandong Hi-Speed Road&Bridge pays a dividend of ¥0.187 per share a year, a dividend yield of 2.8%. The last ex-dividend date was Oct 22, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 26.3% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Shandong Hi-Speed Road&Bridge (000498)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shandong Hi-Speed Road&Bridge it is ¥8.72 per share (as of Nov 7, 2026), against a price of ¥6.63. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Shandong Hi-Speed Road&Bridge stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 000498 trades below its calculated fair value: price ¥6.63, fair value ¥8.72, a gap of about +32% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 000498?
No. The price is what the market pays today (¥6.63); the fair value is what the company's own numbers justify (¥8.72). For Shandong Hi-Speed Road&Bridge the two are ¥2.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shandong Hi-Speed Road&Bridge worth?
The market values Shandong Hi-Speed Road&Bridge at about 10.3B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥6.63; our models calculate a fair value of ¥8.72 per share.
What do the bullish and bearish scenarios say about 000498?
Our models span a range for Shandong Hi-Speed Road&Bridge: cautious scenario ¥8.17, base ¥8.72, optimistic ¥13.35 per share (as of Nov 7, 2026, price ¥6.63). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 000498?
Shandong Hi-Speed Road&Bridge trades at a price-to-earnings ratio of 9.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥8.72 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 5.8. Other multiples: P/B 0.4, P/S 0.2, EV/EBITDA 4.2.
How solid is the balance sheet of Shandong Hi-Speed Road&Bridge (000498)?
Balance-sheet figures for Shandong Hi-Speed Road&Bridge (as of Nov 7, 2026): return on equity 7.4%, debt of 0.84 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 000498 from its 52-week high?
Shandong Hi-Speed Road&Bridge trades at ¥6.63, about 2% below its 52-week high of ¥6.73 and 46% above the low of ¥4.53 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥8.72 is for.
Which stocks are comparable to Shandong Hi-Speed Road&Bridge?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shandong Hi-Speed Road&Bridge stock attractive at the current price?
The data as of Nov 7, 2026: price ¥6.63, calculated fair value ¥8.72 (+32%), Quality Score 36/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 000498 calculated?
We run Shandong Hi-Speed Road&Bridge through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥8.72 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Shandong Hi-Speed Road&Bridge currently trades 24% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shandong Hi-Speed Road&Bridge (000498)?
The closing price on Nov 6, 2026 was ¥6.63. Our model-based fair value is ¥8.72, about +32% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shandong Hi-Speed Road&Bridge right now?
The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥8.17). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Shandong Hi-Speed Road&Bridge (000498) come from?
Earnings per share at Shandong Hi-Speed Road&Bridge grew +17.1 % a year from 2013 to 2024. Broken into its drivers: revenue per share +20.6 %, EBIT margin −1.4 %, tax rate +1.1 %, residual (interest, one-offs) −2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shandong Hi-Speed Road&Bridge
How large is the market capitalisation of Shandong Hi-Speed Road&Bridge (000498)?
The market capitalisation of Shandong Hi-Speed Road&Bridge is 10.3B CNY (≈ $1.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shandong Hi-Speed Road&Bridge (000498)?
The price-to-sales ratio of Shandong Hi-Speed Road&Bridge is 0.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shandong Hi-Speed Road&Bridge (000498)?
Earnings per share at Shandong Hi-Speed Road&Bridge are ¥0.7100 (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shandong Hi-Speed Road&Bridge (000498)?
The dividend yield of Shandong Hi-Speed Road&Bridge is 2.8% (payout 26.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shandong Hi-Speed Road&Bridge (000498)?
The net margin of Shandong Hi-Speed Road&Bridge is 2.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shandong Hi-Speed Road&Bridge (000498)?
The return on equity (ROE) of Shandong Hi-Speed Road&Bridge is 7.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shandong Hi-Speed Road&Bridge (000498)?
On an EBIT basis the return on assets of Shandong Hi-Speed Road&Bridge is 3.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shandong Hi-Speed Road&Bridge (000498)?
The operating margin of Shandong Hi-Speed Road&Bridge is 13.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shandong Hi-Speed Road&Bridge (000498)?
Revenue at Shandong Hi-Speed Road&Bridge is growing −10.9% versus a year earlier (3y avg −1.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shandong Hi-Speed Road&Bridge (000498)?
Earnings per share at Shandong Hi-Speed Road&Bridge are growing −24.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shandong Hi-Speed Road&Bridge (000498) generate?
The free cash flow of Shandong Hi-Speed Road&Bridge is −758M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Shandong Hi-Speed Road&Bridge (000498) carry?
The net debt of Shandong Hi-Speed Road&Bridge is 22.9B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026