Shandong Hi-Speed Road&Bridge (000498) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Shandong Hi-Speed Road&Bridge ¥10.03, price ¥5.65, upside +77.5%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range ¥4.08 – ¥10.16 · fair‑value band ¥5.31 – ¥14.04 · the ¥5.65 price screens below the ¥10.03 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. Dashed = 300-day average. As of Sep 23, 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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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.
Stock analysis
Shandong Hi-Speed Road&Bridge (000498) currently trades at ¥5.65, while our model-based Fair Value estimate is ¥10.03, implying the stock looks roughly 43.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥65.68 per share, and 15 of the 15 models we run sit above the ¥5.65 price.
Bear case: the Asset-Based group reads lowest at ¥11.35, and 0 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥5.31 (bear) to ¥14.04 (bull), the price of ¥5.65 sits inside 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: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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 8.8B CNY (≈ $1.3B) · P/E ratio 6.9 · P/S ratio 0.22 · EPS (TTM) ¥0.8200 · Dividend yield 3.9% · Net margin 3.2% · Return on equity 8.4% · Return on assets (EBIT) 3.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 78%, 000498 screens cheaper than that median.
Fair Value models
Bear ¥5.31Fair Value ¥10.03Bull ¥14.04
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.4391 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.Evidence ⓘEvidence = 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.
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.44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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 31 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.
+15.5%
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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.
+8.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.0%
Dividend (yield on the price)3.9%
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% vs 16%, 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
Price, fair value, quality and upside side by side.
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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 · 840 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside+78% · Top 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets2% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)6% · Above median
Growth and dividend
Revenue growth−9% · Below median
Dividend yield (TTM)3.9% · Top 25%
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 Sep 23, 2026, our model estimates a fair value of ¥10.03 versus a price of ¥5.65, about +78% upside (undervalued).
What is the fair value of 000498?
Our model-based fair value for Shandong Hi-Speed Road&Bridge is ¥10.03 (as of Sep 23, 2026), built from audited fundamentals. The current price: ¥5.65.
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 ¥10.03 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario ¥5.31, optimistic scenario ¥14.04. 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 ¥10.03, about +78% upside versus a price of ¥5.65 (undervalued). Cautious scenario ¥5.31, optimistic scenario ¥14.04. 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 67.7B CNY (latest available figure, as of Sep 23, 2026).
Does Shandong Hi-Speed Road&Bridge pay a dividend?
Shandong Hi-Speed Road&Bridge currently shows a dividend yield of about 3.93% relative to its recent price (as of Sep 23, 2026).
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 ¥10.03 per share (as of Sep 23, 2026), against a price of ¥5.65. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Shandong Hi-Speed Road&Bridge stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 000498 trades below its calculated fair value: price ¥5.65, fair value ¥10.03, a gap of about +78% (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 (¥5.65); the fair value is what the company's own numbers justify (¥10.03). For Shandong Hi-Speed Road&Bridge the two are ¥4.38 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 8.8B CNY (market capitalisation, as of Sep 23, 2026). Per share that is ¥5.65; our models calculate a fair value of ¥10.03 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 ¥5.31, base ¥10.03, optimistic ¥14.04 per share (as of Sep 23, 2026, price ¥5.65). 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 6.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥10.03 is built from several models across several years. Other multiples: P/B 0.3, P/S 0.1, 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 Sep 23, 2026): return on equity 8.4%, 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 ¥5.65, about 9% below its 52-week high of ¥6.23 and 24% above the low of ¥4.55 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥10.03 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, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Sep 23, 2026: price ¥5.65, calculated fair value ¥10.03 (+78%), Quality Score 36/100, from 15 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 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥10.03, 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 14.0 % above its aggregate fair value. Shandong Hi-Speed Road&Bridge currently trades 78 % 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 Sep 24, 2026 was ¥5.65. Our model-based fair value is ¥10.03, about +78% 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 model range is unusually wide (¥5.31 to ¥14.04). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 8.8B CNY (≈ $1.3B). 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 0.22 (P/E × margin). 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 ¥0.8200 (price ÷ EPS = P/E 6.9). 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 3.9% (payout 27.1%). 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 3.2% (fiscal year 2025). 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 8.4% (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 6.2% (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 −9.1% 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 −66.4% 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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