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Shandong Hi-Speed Road&Bridge Group (000498) Fair Value & Analysis

Industrials · CN · Market cap 7.7B CNY

SH Shandong Hi-Speed Road&Bridge Group 000498 · SHE
Price¥4.95
Fair Value¥6.30
Upside+27.3%
Quality36/100
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Mixed Growth
Thin margins · 3.2% net margin
Moderate debt · negative free cash flow
4.42% dividend yield
Ranks above peers (8/13)
Narrow moat 33/100
Evidence: Medium Range ¥4.73 – ¥7.88 Share as image

Fair value as of: Aug 8, 2026

From 15 valuation models · updated 2 days ago

Fair value updated Aug 8, 2026, revised from ¥30.13 to ¥6.30 (−79.1%) since Jul 21, 2026. Share price +0.2% over the past month.

Below-average quality, screening 27% undervalued on our models.

What matters now

  • Our model range runs from ¥4.73 (bear) to ¥7.88 (bull), base ¥6.30. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 36/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥10.16 ¥4.08 Fair Value ¥6.30 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥4.08 – ¥10.16 · fair‑value band ¥4.73 – ¥7.88 · the ¥4.95 price screens below the ¥6.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Shandong Hi-Speed Road&Bridge Group (000498) currently trades at ¥4.95, while our model-based Fair Value estimate is ¥6.30, implying the stock looks roughly 27.3% undervalued today. The Quality Score stands at 36/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Shandong Hi-Speed Road&Bridge Group generated revenue of 67.7B CNY at a net margin of 3.2%. Revenue declined 9.1% year over year. It earns a return on equity of 8.4%. Net debt stands at 22.9B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥4.73 (bear case) to ¥7.88 (bull case); at ¥4.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 27%, 000498 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥14.07 ¥15.13 ¥17.51 76
ROIC Compounder ¥30.73 ¥46.18 ¥59.47 72
Growth-Adj P/E ¥45.97 ¥65.68 ¥85.38 68
All 15 models by family
DCF Models
Owner Earnings ¥10.47 ¥33.20 ¥79.18 31
Earnings-Based
Graham-Dodd ¥9.76 ¥68.03 ¥95.48 54
Lynch FV ¥35.15 ¥50.21 ¥65.28 50
PEG = 1.0 ¥35.15 ¥50.21 ¥65.28 46
EPV ¥23.39 ¥28.39 ¥32.70 59
Multiples
P/E Multiple ¥22.60 ¥30.13 ¥37.66 63
P/S Multiple ¥18.29 ¥24.39 ¥30.49 58
P/B Multiple ¥18.29 ¥24.39 ¥30.49 55
EV/EBIT ¥41.34 ¥57.86 ¥74.39 53
EV/EBITDA ¥34.34 ¥48.53 ¥62.71 54
EV/Revenue ¥27.15 ¥42.31 ¥57.47 43
Asset-Based
NCAV (Graham) ¥8.47 ¥11.35 ¥16.94 50
Economic Profit
Residual Income ¥14.07 ¥15.13 ¥17.51 76
ROIC Compounder ¥30.73 ¥46.18 ¥59.47 72
Growth Earnings
Growth-Adj P/E ¥45.97 ¥65.68 ¥85.38 68

Widest divergence: Growth Earnings (¥65.68) versus Asset-Based (¥11.35). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 67.7B CNY
Revenue growth (YoY) -9.1%
Net margin 3.2%
Return on equity 8.4%
Free cash flow −758M CNY FY2025
P/E ratio 6.0
More key figures
Operating margin 6.2%
EPS (TTM) ¥0.8200
Dividend yield 4.4%
EPS growth (YoY) -66.4%
Net debt 22.9B CNY FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 34 · Market factors (momentum, volatility) 44

Profitability 24
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shandong Hi-Speed Road&Bridge Group Co., Ltd. engages in the general contracting business in China and internationally. 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, …

Full company description

Shandong Hi-Speed Road&Bridge Group Co., Ltd. engages in the general contracting business in China and internationally. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Hi-Speed Road&Bridge Group reported revenue of ¥68.6B in FY2025 versus ¥57.5B in FY2021, a compound +4.5%/yr. Reported net income was ¥2.2B in FY2025, compounding +1.1%/yr from FY2021.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
68.6B CNY
Latest YoY
−3.9%
Avg. growth/yr (3Y)
−1.0%
Avg. growth/yr (5Y)
+14.8%
Avg. growth/yr (31Y)
+15.5%
Revenue +4.5%/yr
FY21 ¥57.5B
FY22 ¥70.7B
FY23 ¥73.0B
FY24 ¥71.3B
FY25 ¥68.6B
Net income +1.1%/yr
FY21 ¥2.1B
FY22 ¥2.7B
FY23 ¥2.3B
FY24 ¥2.3B
FY25 ¥2.2B

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Cite: Fair Value Calculator (2026). "Shandong Hi-Speed Road&Bridge Group Fair Value". https://www.fairvalue-calculator.com/stock/000498

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 36 · Bottom 25%
Fair Value upside +27% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth -9% · Below median
Dividend yield (TTM) 4.4% · Top 25%
Debt / equity 0.84× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 6.0× · Cheaper than 75% of peers
P/B 0.29× · Cheaper than 75% of peers
P/S (TTM) 0.11× · Cheaper than 75% of peers
EV/EBITDA 4.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 70 · sector 16
FUTURE 0 · sector 18
PAST 34 · sector 26
HEALTH 58 · sector 94
DIVIDEND 88 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Shandong Hi-Speed Road&Bridge Group (000498) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥6.30 versus a price of ¥4.95, about +27% (undervalued).
What is the fair value of 000498?
Our model-based fair value for Shandong Hi-Speed Road&Bridge Group is ¥6.30 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥4.95.
What is the quality score of 000498?
Shandong Hi-Speed Road&Bridge Group 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 revenue of Shandong Hi-Speed Road&Bridge Group (000498)?
Shandong Hi-Speed Road&Bridge Group reported trailing-twelve-month revenue of about 67.7B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 000498?
The net profit margin of Shandong Hi-Speed Road&Bridge Group is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does Shandong Hi-Speed Road&Bridge Group pay a dividend?
Shandong Hi-Speed Road&Bridge Group currently shows a dividend yield of about 4.42% relative to its recent price (as of Aug 8, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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