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Jilin Expressway Co (601518) Fair Value & Analysis

Industrials · CN · Market cap 5.2B CNY

JE Jilin Expressway Co 601518 · SHG
Price¥2.76
Fair Value¥5.45
Upside+97.5%
Quality72/100
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Mixed Growth
Highly profitable · 35.6% net margin
Low debt · generates free cash flow
4.69% dividend yield
Ranks above peers (13/14)
Wide moat 70/100
Evidence: Medium Range ¥4.09 – ¥6.82 Share as image

Fair value as of: Aug 8, 2026

From 24 valuation models · updated 2 days ago

Share price +2.6% over the past month.

A solid business, screening 97% undervalued on our models.

What matters now

  • The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (¥4.09). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥3.19 ¥1.51 Fair Value ¥5.45 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 ¥1.51 – ¥3.19 · fair‑value band ¥4.09 – ¥6.82 · the ¥2.76 price screens below the ¥5.45 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

Jilin Expressway Co (601518) currently trades at ¥2.76, while our model-based Fair Value estimate is ¥5.45, implying the stock looks roughly 97.5% undervalued today. The Quality Score stands at 72/100 (solid 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, Jilin Expressway Co generated revenue of 1.4B CNY at a net margin of 35.6%. Revenue grew 5.0% year over year. It earns a return on equity of 8.7%. The balance sheet holds a net cash position of 1.7B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥4.09 (bear case) to ¥6.82 (bull case); at ¥2.76, the current price sits below 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 15% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 25% fair-value upside, at 97%, 601518 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
Growth DCF ¥5.13 ¥7.00 ¥9.52 80
Residual Income ¥2.52 ¥2.71 ¥3.19 76
Rev-Margin DCF ¥2.78 ¥3.40 ¥4.02 74
All 24 models by family
DCF Models
FCF DCF ¥5.04 ¥7.12 ¥10.07 38
Owner Earnings ¥4.60 ¥6.48 ¥9.14 31
5Y Revenue Exit ¥2.78 ¥3.40 ¥4.11 39
5Y EBITDA Exit ¥4.92 ¥7.30 ¥10.01 41
5Y P/E Exit ¥4.51 ¥6.56 ¥8.63 38
10Y Revenue Exit ¥3.58 ¥4.31 ¥5.15 36
10Y EBITDA Exit ¥4.92 ¥6.92 ¥9.45 37
10Y P/E Exit ¥4.67 ¥6.42 ¥8.45 35
Earnings-Based
Graham-Dodd ¥1.77 ¥4.83 ¥6.34 54
Lynch FV ¥0.9600 ¥1.37 ¥1.78 50
PEG = 1.0 ¥0.9600 ¥1.37 ¥1.78 46
EPV ¥3.20 ¥3.61 ¥3.96 59
Multiples
P/E Multiple ¥4.09 ¥5.45 ¥6.82 63
P/S Multiple ¥1.09 ¥1.45 ¥1.81 58
P/B Multiple ¥3.31 ¥4.41 ¥5.52 55
EV/EBIT ¥5.23 ¥6.77 ¥8.31 53
EV/EBITDA ¥5.43 ¥7.03 ¥8.64 54
EV/Revenue ¥1.51 ¥1.90 ¥2.29 43
Asset-Based
NCAV (Graham) ¥1.51 ¥2.03 ¥3.02 50
Growth DCF
Growth DCF ¥5.13 ¥7.00 ¥9.52 80
Rev-Margin DCF ¥2.78 ¥3.40 ¥4.02 74
Economic Profit
Residual Income ¥2.52 ¥2.71 ¥3.19 76
ROIC Compounder ¥3.24 ¥3.84 ¥4.56 72
Growth Earnings
Growth-Adj P/E ¥3.24 ¥4.63 ¥6.02 68

Widest divergence: DCF Models (¥6.48) versus Earnings-Based (¥1.37). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.4B CNY
Revenue growth (YoY) +5.0%
Net margin 35.6%
Return on equity 8.7%
Free cash flow 801M CNY FY2025
P/E ratio 11.5
More key figures
Operating margin 61.9%
EPS (TTM) ¥0.2600
Dividend yield 4.4%
Net cash 1.7B CNY FY2024

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

Quality Score breakdown

Overall quality 72/100

Of which business quality 71 · Market factors (momentum, volatility) 48

Profitability 43
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 74
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

Jilin Expressway Co., Ltd., through its subsidiaries, invests in, develops, constructs, operates, manages, and maintains toll roads in the Jilin Province, China. It operates and manages Changping Expressway and Changchun Ring Expressway Northwest Ring.

Full company description

Jilin Expressway Co., Ltd., through its subsidiaries, invests in, develops, constructs, operates, manages, and maintains toll roads in the Jilin Province, China. It operates and manages Changping Expressway and Changchun Ring Expressway Northwest Ring. The company also engages in the distribution of refined oil; construction and installation of toll lanes and ancillary equipment; and construction and installation of toll management systems and ancillary equipment on toll roads. In addition, it is involved in the construction and installation of traffic information collection systems, information release systems, central control systems, and power supply supporting facilities systems; and provision of computer hardware and software, auxiliary equipment, wholesale of communication equipment, and technical and technology transfer services. The company was incorporated in 2010 and is headquartered in Changchun, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jilin Expressway Co reported revenue of ¥1.4B in FY2025 versus ¥1.3B in FY2021, a compound +1.8%/yr. Reported net income was ¥491M in FY2025, compounding +11.4%/yr from FY2021.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4B CNY
Latest YoY
−7.8%
Avg. growth/yr (3Y)
−2.1%
Avg. growth/yr (5Y)
+10.0%
Avg. growth/yr (18Y)
+5.6%
Revenue +1.8%/yr
FY21 ¥1.3B
FY22 ¥1.5B
FY23 ¥1.4B
FY24 ¥1.5B
FY25 ¥1.4B
Net income +11.4%/yr
FY21 ¥318M
FY22 ¥394M
FY23 ¥546M
FY24 ¥539M
FY25 ¥491M

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Cite: Fair Value Calculator (2026). "Jilin Expressway Co Fair Value". https://www.fairvalue-calculator.com/stock/601518

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 72 · Top 25%
Fair Value upside +98% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 36% · Top 25%
Operating margin (TTM) 62% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 4.7% · Above median
Debt / equity 0.20× · Lower than median

Valuation Multiples vs Infrastructure Operations median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than median
P/B 0.91× · Cheaper than median
P/S (TTM) 3.78× · Pricier than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 4.5× · 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 100 · sector 54
FUTURE 25 · sector 13
PAST 35 · sector 25
HEALTH 90 · sector 69
DIVIDEND 94 · sector 79

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.

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

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Frequently asked questions

Is Jilin Expressway Co (601518) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥5.45 versus a price of ¥2.76, about +97% (undervalued).
What is the fair value of 601518?
Our model-based fair value for Jilin Expressway Co is ¥5.45 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥2.76.
What is the quality score of 601518?
Jilin Expressway Co has a Quality Score of 72/100. 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 Jilin Expressway Co (601518)?
Jilin Expressway Co reported trailing-twelve-month revenue of about 1.4B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 601518?
The net profit margin of Jilin Expressway Co is about 35.6%, meaning it keeps roughly 35.6% of revenue as net income. Based on the latest reported figures.
Does Jilin Expressway Co pay a dividend?
Jilin Expressway Co currently shows a dividend yield of about 4.39% 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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