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Chongqing road & bridge co.,ltd (600106) Fair Value & Analysis

Industrials · CN · Market cap 6.1B CNY

CR Chongqing road & bridge co.,ltd 600106 · SHG
Price¥4.48
Fair Value¥1.35
Upside-69.9%
Quality65/100
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Weak Growth
Highly profitable · 78.0% net margin
Low debt · generates free cash flow
0.57% dividend yield
Trails peers (4/14)
Moderate moat 59/100
Evidence: High Range ¥0.9180 – ¥1.80 Share as image

Fair value as of: Aug 6, 2026

From 24 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from ¥0.7500 to ¥1.35 (+80.0%) since Jul 11, 2026. Share price +1.7% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.80). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥0.9180 to ¥1.80) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥7.81 ¥2.37 Fair Value ¥1.35 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range ¥2.37 – ¥7.81 · fair‑value band ¥0.9180 – ¥1.80 · the ¥4.48 price screens above the ¥1.35 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Chongqing road & bridge co.,ltd (600106) currently trades at ¥4.48, while our model-based Fair Value estimate is ¥1.35, implying the stock looks roughly 69.9% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Chongqing road & bridge co.,ltd generated revenue of 109M CNY at a net margin of 78.0%. Revenue declined 13.0% year over year. It earns a return on equity of 1.6%. Net debt stands at 286M CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥0.9180 (bear case) to ¥1.80 (bull case); at ¥4.48, the current price sits above 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 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 25% fair-value upside, at -70%, 600106 screens richer 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
Growth DCF ¥0.4100 ¥0.5500 ¥0.7700 80
Residual Income ¥2.81 ¥2.70 ¥2.14 76
Rev-Margin DCF ¥0.2200 ¥0.2900 ¥0.3700 74
All 24 models by family
DCF Models
FCF DCF ¥0.3900 ¥0.5400 ¥0.7900 38
Owner Earnings ¥0.8300 ¥1.13 ¥1.67 31
5Y Revenue Exit ¥0.2200 ¥0.2800 ¥0.3500 39
5Y EBITDA Exit ¥0.4600 ¥0.6900 ¥1.00 41
5Y P/E Exit ¥0.8600 ¥1.38 ¥1.99 38
10Y Revenue Exit ¥0.2900 ¥0.3300 ¥0.3800 36
10Y EBITDA Exit ¥0.4300 ¥0.5800 ¥0.7500 37
10Y P/E Exit ¥0.6700 ¥1.00 ¥1.32 35
Earnings-Based
Graham-Dodd ¥0.5800 ¥0.7100 ¥0.8000 54
EPV ¥0.4200 ¥0.4800 ¥0.5400 59
Dividend Discount
Gordon GGM ¥0.6200 ¥0.6700 ¥0.7600 70
DDM Multi-Stage ¥0.6200 ¥0.7600 ¥0.9600 61
Multiples
P/E Multiple ¥1.35 ¥1.80 ¥2.25 63
P/S Multiple ¥0.1300 ¥0.1700 ¥0.2100 58
P/B Multiple ¥1.09 ¥1.46 ¥1.82 55
EV/EBIT ¥0.7400 ¥0.9800 ¥1.22 53
EV/EBITDA ¥0.5900 ¥0.7900 ¥0.9800 54
EV/Revenue ¥0.1200 ¥0.1600 ¥0.2100 43
Asset-Based
NCAV (Graham) ¥2.00 ¥2.68 ¥4.00 50
Growth DCF
Growth DCF ¥0.4100 ¥0.5500 ¥0.7700 80
Rev-Margin DCF ¥0.2200 ¥0.2900 ¥0.3700 74
Economic Profit
Residual Income ¥2.81 ¥2.70 ¥2.14 76
ROIC Compounder ¥0.4200 ¥0.4800 ¥0.5400 72
Growth Earnings
Growth-Adj P/E ¥0.9500 ¥1.36 ¥1.77 68

Widest divergence: Asset-Based (¥2.68) versus Growth DCF (¥0.2900). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 109M CNY
Revenue growth (YoY) -13.0%
Net margin 78.0%
Return on equity 1.6%
Free cash flow 55.1M CNY FY2025
P/E ratio 65.3
More key figures
Operating margin 84.7%
EPS (TTM) ¥0.0700
Dividend yield 0.6%
EPS growth (YoY) -50.0%
Net debt 286M CNY FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 26

Profitability 30
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 85
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

Chongqing road & bridge co.,ltd operates as an infrastructure and real estate development and operation company in China. The company engages in the operation of urban roads and bridges. It is also involved in the construction of roads, bridges, and urban infrastructure projects; and real estate development and construction activities.

Full company description

Chongqing road & bridge co.,ltd operates as an infrastructure and real estate development and operation company in China. The company engages in the operation of urban roads and bridges. It is also involved in the construction of roads, bridges, and urban infrastructure projects; and real estate development and construction activities. The company was founded in 1997 and is based in Chongqing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chongqing road & bridge co.,ltd reported revenue of ¥113M in FY2025 versus ¥165M in FY2021, a compound −9.0%/yr. Reported net income was ¥114M in FY2025, compounding −18.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
113M CNY
Latest YoY
−0.1%
Avg. growth/yr (3Y)
−2.4%
Avg. growth/yr (5Y)
−11.0%
Avg. growth/yr (31Y)
+1.2%
Revenue −9.0%/yr
FY21 ¥165M
FY22 ¥121M
FY23 ¥117M
FY24 ¥113M
FY25 ¥113M
Net income −18.3%/yr
FY21 ¥256M
FY22 ¥203M
FY23 ¥211M
FY24 ¥157M
FY25 ¥114M

600106 screens 70% overvalued. Compare with China Merchants Expressway Network & Technology Holdings →

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Cite: Fair Value Calculator (2026). "Chongqing road & bridge co.,ltd Fair Value". https://www.fairvalue-calculator.com/stock/600106

Peer Group

Infrastructure Operations · 65 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 65 · Top 25%
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 2% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 78% · Top 25%
Operating margin (TTM) 85% · Top 25%
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 0.6% · Bottom 25%
Debt / equity 0.16× · Lower than median

Valuation Multiples vs Infrastructure Operations median · lower = cheaper

P/E (TTM) 65.3× · Pricier than 75% of peers
P/B 1.14× · Pricier than median
P/S (TTM) 55.61× · Pricier than 75% of peers
P/FCF 16.4× · Pricier than 75% of peers
EV/EBITDA 75.2× · Pricier 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 0 · sector 54
FUTURE 0 · sector 13
PAST 6 · sector 25
HEALTH 92 · sector 69
DIVIDEND 11 · sector 79

VALUE 0: the price sits above our fair-value range.

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 Infrastructure Operations stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

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Frequently asked questions

Is Chongqing road & bridge co.,ltd (600106) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥1.35 versus a price of ¥4.48, about −70% (overvalued).
What is the fair value of 600106?
Our model-based fair value for Chongqing road & bridge co.,ltd is ¥1.35 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥4.48.
What is the quality score of 600106?
Chongqing road & bridge co.,ltd has a Quality Score of 65/100. 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 Chongqing road & bridge co.,ltd (600106)?
Chongqing road & bridge co.,ltd reported trailing-twelve-month revenue of about 109M CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600106?
The net profit margin of Chongqing road & bridge co.,ltd is about 78.0%, meaning it keeps roughly 78.0% of revenue as net income. Based on the latest reported figures.
Does Chongqing road & bridge co.,ltd pay a dividend?
Chongqing road & bridge co.,ltd currently shows a dividend yield of about 0.52% relative to its recent price (as of Aug 6, 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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