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Shenzhen International Holdings Ltd (0152) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Shenzhen International Holdings Ltd stock HK$11.06, price HK$4.63, upside +139.1%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials HK · ISIN BMG8086V1467

SI Shenzhen International Holdings Ltd logo Thin data Nov 5, 2026

Shenzhen International Holdings Ltd

0152 · HK
Cheap, value-trap risk

The stock costs 58% less than our calculation considers fair.

Fair value HK$11.06 · Strongly undervalued
Even on cautious assumptions the value is 134% above the price (HK$10.82).
Quality 43/100
Mixed Growth (revenue 5y −3.4 %/yr in HKD)
Thin margins · 8.6% net margin (TTM)
Moderate debt
Mixed vs. peers (7/13)
Negative free cash flow
9.9% dividend yield · Pays more than it earns
Narrow moat 38/100
Thin data
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Price vs Fair Value

HK$8.70 HK$3.67 Fair Value HK$11.06 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range HK$3.67 – HK$8.70 · fair‑value band HK$10.82 – HK$14.57 · the HK$4.63 price screens below the HK$11.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

Shenzhen International Holdings Limited, an investment holding company, invests in, constructs, and operates logistics infrastructure facilities primarily in the People's Republic of China.

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The company operates through Toll Roads and General Environmental Protection Business and Logistic Business segments. The Toll roads and General Environmental Protection Business segment develops, operates, and manages toll highways.

This segment also engages in the sale of wind turbine equipment; kitchen waste disposal projects construction; and operation and sale of wind power stations.

The Logistic Business segment constructs, operates, and manages logistics centers and integrated logistics hubs; and provides third-party logistics services, logistics information services, financial services; port and related services; and logistics park transformation and upgrading services.

It also operates two general bulk cargo terminals and depots in Nanjing Xiba Port that provide various services, such as loading and unloading, lightering, train loading and unloading, and warehousing.

In addition, the company provides electronic information exchange, transmission, and value-added information-sharing services; supply chain management services; project investment and enterprise management consulting services; and real estate development and investment management services, as well as construction, operation, and management of expressways.

Further, it engages in logistics and transportation ancillary services; auxiliary activities of railway transportation; cargo transportation and warehousing services; and research and development, production, and sales of wind power generation systems, as well as invests in and operates wind farms, and operates as freight forwarder and container cargo transport agent.

The company was incorporated in 1990 and is based in Tsim Sha Tsui, Hong Kong.

Stock analysis

Shenzhen International Holdings Ltd (0152) currently trades at HK$4.63, while our model-based Fair Value estimate is HK$11.06, implying the stock looks roughly 58% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of HK$21.07 per share, and 12 of the 15 models we run sit above the HK$4.63 price.

Bear case: the Asset-Based group reads lowest at HK$2.13, and 3 of the 15 models stay below the price. Data coverage for this calculation is low.

Scenario range: HK$10.82 (bear) to HK$14.57 (bull), the price of HK$4.63 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 43/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2002: revenue and profit before it include the divested business. Growth is measured afresh from 2002.

Shenzhen International Holdings Ltd reported revenue of HK$16.3B in FY2025 versus HK$18.5B in FY2021, a compound −3.1%/yr. Reported net income was HK$2.2B in FY2025, compounding −11.5%/yr from FY2021.

Key figures

Market cap HK$12.6B (≈ $1.6B) Small · P/E ratio 8.2 · P/S ratio 1.12 · EPS (TTM) HK$0.2109 · Dividend yield 9.9% · Net margin 13.8% · Return on equity 3.6% · Return on assets (EBIT) 5.0% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.

The share trades about 47% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 139%, 0152 screens cheaper than that median.

Fair Value models

Bear HK$10.82 Fair Value HK$11.06 Bull HK$14.57
Price HK$4.63 · Upside +139.1%
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. 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 HK$10.82 HK$11.06 HK$11.74 76
Gordon GGM HK$4.83 HK$8.47 HK$11.41 68
EPV n/a HK$1.09 HK$2.01 67
All 15 models by family
Earnings-Based
Graham-Dodd HK$6.24 HK$35.19 HK$48.90 63
Lynch FV HK$9.87 HK$14.10 HK$18.33 61
PEG = 1.0 HK$9.87 HK$14.10 HK$18.33 57
EPV n/a HK$1.09 HK$2.01 67
Dividend Discount
Gordon GGM HK$4.83 HK$8.47 HK$11.41 68
DDM Multi-Stage HK$4.83 HK$7.85 HK$9.07 67
Multiples
P/E Multiple HK$14.45 HK$19.27 HK$24.09 63
P/S Multiple HK$7.64 HK$10.19 HK$12.74 57
P/B Multiple HK$7.31 HK$9.74 HK$12.18 55
EV/EBIT HK$1.07 HK$7.82 HK$14.57 57
EV/EBITDA HK$6.96 HK$15.68 HK$24.40 63
Asset-Based
NCAV (Graham) HK$1.59 HK$2.13 HK$3.18 53
Economic Profit
Residual Income HK$10.82 HK$11.06 HK$11.74 76
ROIC Compounder n/a HK$1.09 HK$2.01 67
Growth Earnings
Growth-Adj P/E HK$14.75 HK$21.07 HK$27.39 67

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Quality Score breakdown

Overall quality 43/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 25
How much profit the company makes from its sales and capital
Quality Growth 51
Are margins and returns getting better?
Cashflow 48
Do the profits arrive as real cash?
Financial strength 13
Debt, balance sheet and risk of trouble
Investment 52
Does it invest with discipline instead of growing at any price?
Low Volatility 69
How calm the share price moves, does not count
Price momentum 13
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 78
Buys back shares or issues new ones?

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Revenue & earnings trend

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 2002: revenue and profit before it include the divested business. Growth is measured afresh from 2002.
Revenue growth 1 year
+5.0%
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.
+1.7%
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.
−3.4%
Start year 2020 (pandemic). Over 10 years: +9.3% a year
Revenue growth 23 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.
+24.1%
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.
−3.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.2%
Dividend (yield on the price)9.9%
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.−13.2% vs −2.3%, 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.53% → 31%
Pace: the 5-year rate starts in 2020 (pandemic)

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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.Infrastructure Operations · 60 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside +132.1% · Top 25%
Profitability
Return on equity (12 months) 3.6% · Below median
Return on assets 1.9% · Below median
Net margin (12 months) 11.2% · Below median
Operating margin (12 months) 14.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 23.4% · Top 25%
Dividend yield (12 months) 9.9% · Top 25%
Balance sheet
Debt / equity 1.03× · Above median

Valuation Multiplesvs Infrastructure Operations median · lower = cheaper

P/E (12 months) 8.2× · Cheapest 25%
P/B 0.35× · Cheapest 25%
P/S (12 months) 0.92× · Cheapest 25%
EV/EBITDA 5.7× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 48
FUTURE (revenue growth)100 · sector 3
PAST (return on equity)14 · sector 24
HEALTH (low debt)48 · sector 68
DIVIDEND (yield)100 · sector 82

Context: sector, industry, market

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

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Shenzhen International Holdings Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Shenzhen International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0152

Frequently asked questions

Is Shenzhen International Holdings Ltd (0152) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of HK$11.06 versus a price of HK$4.63, about +139% upside (undervalued).
What is the fair value of 0152?
Our model-based fair value for Shenzhen International Holdings Ltd is HK$11.06 (as of Nov 5, 2026), built from audited fundamentals. The current price: HK$4.63.
What is the quality score of 0152?
Shenzhen International Holdings Ltd has a Quality Score of 43/100. 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 Shenzhen International Holdings Ltd (0152)?
Our model-based price target is the fair value of HK$11.06 (as of Nov 5, 2026) from 15 valuation models. Cautious scenario HK$10.82, optimistic scenario HK$14.57. It is a calculation from audited fundamentals, not an analyst target.
What is the Shenzhen International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$11.06, about +139% upside versus a price of HK$4.63 (undervalued). Cautious scenario HK$10.82, optimistic scenario HK$14.57. The calculation is refreshed regularly with new filings.
What is the revenue of Shenzhen International Holdings Ltd (0152)?
Shenzhen International Holdings Ltd reported trailing-twelve-month revenue of about HK$17.9B (latest available figure, as of Nov 5, 2026).
Does Shenzhen International Holdings Ltd pay a dividend?
Shenzhen International Holdings Ltd currently shows a dividend yield of 9.95% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Shenzhen International Holdings Ltd (0152) and when is the ex-dividend date?
Shenzhen International Holdings Ltd pays a dividend of HK$0.46 per share a year, a dividend yield of 9.9%. The last ex-dividend date was May 15, 2026. A dividend has been paid every year since 2004. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of Shenzhen International Holdings Ltd (0152)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shenzhen International Holdings Ltd it is HK$11.06 per share (as of Nov 5, 2026), against a price of HK$4.63. It is the blended result of 15 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Shenzhen International Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 0152 trades below its calculated fair value: price HK$4.63, fair value HK$11.06, a gap of about +139% (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 0152?
No. The price is what the market pays today (HK$4.63); the fair value is what the company's own numbers justify (HK$11.06). For Shenzhen International Holdings Ltd the two are HK$6.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shenzhen International Holdings Ltd worth?
The market values Shenzhen International Holdings Ltd at about HK$12.6B (market capitalisation, as of Nov 5, 2026). Per share that is HK$4.63; our models calculate a fair value of HK$11.06 per share.
What do the bullish and bearish scenarios say about 0152?
Our models span a range for Shenzhen International Holdings Ltd: cautious scenario HK$10.82, base HK$11.06, optimistic HK$14.57 per share (as of Nov 5, 2026, price HK$4.63). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0152?
Shenzhen International Holdings Ltd trades at a price-to-earnings ratio of 8.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$11.06 is built from several models across several years. Other multiples: P/B 0.4, P/S 0.9, EV/EBITDA 5.7.
How solid is the balance sheet of Shenzhen International Holdings Ltd (0152)?
Balance-sheet figures for Shenzhen International Holdings Ltd (as of Nov 5, 2026): return on equity 3.6%, debt of 1.03 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 0152 from its 52-week high?
Shenzhen International Holdings Ltd trades at HK$4.63, about 47% below its 52-week high of HK$8.70 and at the low of HK$4.63 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of HK$11.06 is for.
Which stocks are comparable to Shenzhen International Holdings Ltd?
From the same area (Industrials) we also value Transurban Group, China Merchants Expressway Network & Technology Holdings, Jiangsu Expressway Company, Shandong Hi-speed Company, 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 Shenzhen International Holdings Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price HK$4.63, calculated fair value HK$11.06 (+139%), Quality Score 43/100, 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 0152 calculated?
We run Shenzhen International Holdings Ltd through 15 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$11.06 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. Shenzhen International Holdings Ltd currently trades 58% 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 Shenzhen International Holdings Ltd (0152)?
The closing price on Nov 9, 2026 was HK$4.63. Our model-based fair value is HK$11.06, about +139% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shenzhen International Holdings Ltd right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$10.82). 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 Shenzhen International Holdings Ltd (0152) come from?
Earnings per share at Shenzhen International Holdings Ltd grew −2.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.5 %, EBIT margin −6.3 %, tax rate −2.4 %, residual (interest, one-offs) −0.5 %. 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 Shenzhen International Holdings Ltd

How large is the market capitalisation of Shenzhen International Holdings Ltd (0152)?
The market capitalisation of Shenzhen International Holdings Ltd is HK$12.6B (≈ $1.6B). 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 Shenzhen International Holdings Ltd (0152)?
The price-to-sales ratio of Shenzhen International Holdings Ltd is 1.12 (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 Shenzhen International Holdings Ltd (0152)?
Earnings per share at Shenzhen International Holdings Ltd are HK$0.2109 (price ÷ EPS = P/E 8.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shenzhen International Holdings Ltd (0152)?
The dividend yield of Shenzhen International Holdings Ltd is 9.9%. 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 Shenzhen International Holdings Ltd (0152)?
The net margin of Shenzhen International Holdings Ltd is 13.8% (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 Shenzhen International Holdings Ltd (0152)?
The return on equity (ROE) of Shenzhen International Holdings Ltd is 3.6% (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 Shenzhen International Holdings Ltd (0152)?
On an EBIT basis the return on assets of Shenzhen International Holdings Ltd is 5.0% (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 Shenzhen International Holdings Ltd (0152)?
The operating margin of Shenzhen International Holdings Ltd is 14.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shenzhen International Holdings Ltd (0152)?
Revenue at Shenzhen International Holdings Ltd is growing +23.4% versus a year earlier (3y avg +1.7%). 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 Shenzhen International Holdings Ltd (0152)?
Earnings per share at Shenzhen International Holdings Ltd are growing −21.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shenzhen International Holdings Ltd (0152) generate?
The free cash flow of Shenzhen International Holdings Ltd is −HK$5.5B (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 Shenzhen International Holdings Ltd (0152) carry?
The net debt of Shenzhen International Holdings Ltd is HK$61.6B (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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