Zhengping Road&Bridge Constr (603843) Fair Value & Analysis
Industrials · CN · Market cap 5.0B CNY
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Risks
Fair value as of: Aug 21, 2026
From 3 valuation models · updated 4 days ago
Share price +7.4% over the past month.
Below-average quality, and trading another 766% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (¥0.9200). The favourable scenario is already priced in.
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ¥1.77 – ¥9.70 · fair‑value band ¥0.7400 – ¥0.9200 · the ¥7.01 price screens above the ¥0.8100 fair value. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Zhengping Road&Bridge Constr (603843) currently trades at ¥7.01, while our model-based Fair Value estimate is ¥0.8100, implying the stock looks roughly 88.5% overvalued today. The Quality Score stands at 38/100 (below-average 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: low).
Over the trailing twelve months, Zhengping Road&Bridge Constr generated revenue of 1.3B CNY at a net margin of -13.6%. Revenue declined 25.2% year over year. It earns a return on equity of -40.8%. Net debt stands at 1.9B CNY. Fundamentals as of Aug 21, 2026
Our scenario range runs from ¥0.7400 (bear case) to ¥0.9200 (bull case); at ¥7.01, 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 29% below its 52-week high and 173% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -88%, 603843 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.
All 3 models by family
Widest divergence: Dividend Discount (¥0.7800) versus Asset-Based (¥0.0500). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 65
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Zhengping Road & Bridge Construction Co.,Ltd. engages in the design, construction, operation, and consultation of infrastructure development in China. It undertakes projects in transportation, road construction, water conservancy, electric power, manufacturing facilities.
Full company description
Zhengping Road & Bridge Construction Co.,Ltd. engages in the design, construction, operation, and consultation of infrastructure development in China. It undertakes projects in transportation, road construction, water conservancy, electric power, manufacturing facilities. The company is also engaged in the cultural tourism industry business and retailing of agricultural and sideline products. In addition, it provides other services, such as consultation, engineering, installation, manufacturing, and maintenance for a variety of projects; and engages in the manufacturing of products for engineering facilities and electrical equipment. The company was founded in 1993 and is based in Xining, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zhengping Road&Bridge Constr reported revenue of ¥1.4B in FY2025 versus ¥5.0B in FY2021, a compound −27.7%/yr. Reported net income was −¥142M in FY2025.
603843 screens 88% overvalued. Compare with Quanta Services, Inc →
Peer Group
Engineering & Construction · 841 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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: 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.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $678.02 | $143.92 | -79% |
| Vinci SA DG | €119.95 | €185.62 | +55% |
| Comfort Systems USA, Inc FIX | $1,739 | $519.97 | -70% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | -46% |
| Ferrovial N.V FER | €57.28 | €19.17 | -67% |
| HOCHTIEF Aktiengesellschaft HOT | €427.60 | €203.87 | -52% |
| Samsung C&T Corporation 028260 | 357,500 KRW | 261,411 KRW | -27% |
| ACS, Actividades de Construcción y Servicios, S.A ACS | €110.70 | €75.04 | -32% |
| EMCOR Group EME | $833.40 | $549.47 | -34% |
| MasTec, Inc MTZ | $281.11 | $100.00 | -64% |
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Frequently asked questions
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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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