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Jiangsu Expressway Company (JEXYF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Jiangsu Expressway Company $2.28, price $1.40, upside +62.9%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Some data
Sep 24, 2026
Some data
Sep 24, 2026
Jiangsu Expressway Company
JEXYF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
✓Fair value $2.28 · Strongly undervalued (+62.9%)
!Quality 41/100
!Expensive Growth (revenue 5y +18.1 %/yr)
✓Highly profitable · 23.7% net margin (TTM)
!Moderate debt · negative free cash flow
✓Wide moat 67/100
!Evidence only medium, so the estimate is less certain
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
60‑month range $0.1692 – $1.53 · fair‑value band $1.59 – $2.96 · the $1.40 price screens below the $2.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
Company profile
Jiangsu Expressway Company Limited, together with its subsidiaries, engages in the investment, construction, operation, and management of toll roads and bridges in China. The company develops and provides highway ancillary services, including gas stations, catering, and retail businesses in expressway service areas.
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Jiangsu Expressway Company Limited, together with its subsidiaries, engages in the investment, construction, operation, and management of toll roads and bridges in China. The company develops and provides highway ancillary services, including gas stations, catering, and retail businesses in expressway service areas. It is also involved in investment services; real estate development and management; sale of electricity; advertising; service area operation; clean energy power generation; and agriculture business. The company was incorporated in 1992 and is headquartered in Nanjing, China. Jiangsu Expressway Company Limited operates as a subsidiary of Jiangsu Communications Holding Co., Ltd.
Stock analysis
Jiangsu Expressway Company (JEXYF) currently trades at $1.40, while our model-based Fair Value estimate is $2.28, implying the stock looks roughly 38.6% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $2.31 per share, and 6 of the 14 models we run sit above the $1.40 price.
Bear case: the Economic Profit group reads lowest at $0.7700, and 8 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: $1.59 (bear) to $2.96 (bull), the price of $1.40 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 41/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Jiangsu Expressway Company reported revenue of 20.3B CNY in FY2025 versus 13.8B CNY in FY2021, a compound +10.1%/yr. Reported net income was 4.6B CNY in FY2025, compounding +1.8%/yr from FY2021.
Key figures
Market cap $7.1B · P/E ratio 10.0 · P/S ratio 2.26 · EPS (TTM) $0.1400 · Net margin 22.6% · Return on equity 9.2% · Return on assets (EBIT) 6.9% · Operating margin 35.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 63%, JEXYF screens cheaper than that median.
Fair Value models
Bear $1.59
Fair Value $2.28
Bull $2.96
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.
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.
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.
Highest evidence
Residual Income
$1.10
$1.23
$1.64
76
EPV
$0.5700
$0.7700
$0.9500
74
ROIC Compounder
$0.5700
$0.7700
$0.9500
72
All 14 models by family
Earnings-Based
Graham-Dodd
$0.9300
$3.63
$4.92
64
Lynch FV
$0.8900
$1.28
$1.66
61
PEG = 1.0
$0.8900
$1.28
$1.66
57
EPV
$0.5700
$0.7700
$0.9500
74
Multiples
P/E Multiple
$2.14
$2.86
$3.57
63
P/S Multiple
$0.9000
$1.20
$1.50
58
P/B Multiple
$1.74
$2.31
$2.89
55
EV/EBIT
$1.58
$2.35
$3.12
65
EV/EBITDA
$1.78
$2.62
$3.47
66
EV/Revenue
$0.0200
$0.3400
$0.6700
46
Asset-Based
NCAV (Graham)
$0.6100
$0.8200
$1.23
54
Economic Profit
Residual Income
$1.10
$1.23
$1.64
76
ROIC Compounder
$0.5700
$0.7700
$0.9500
72
Growth Earnings
Growth-Adj P/E
$1.59
$2.28
$2.96
67
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Set up alert →Quality Score breakdown
Overall quality
41/100
Of which business quality 39 · Market factors (momentum, volatility) 77
Profitability
39
Margins and returns on capital today
Quality Growth
51
Are margins and returns improving?
Cashflow
42
Earnings quality: real cash, not paper profit
Fin. Strength
35
Balance sheet, leverage, solvency risk
Investment
40
Disciplined investing over empire-building
Low Volatility
50
Calm price path (market factor)
Momentum
83
Price trend over the last 3–12 months (market factor)
52W Momentum
95
Distance to the 52-week high (market factor)
Net Issuance
25
Share count: buybacks or dilution?
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.
57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+18.9%
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.
+18.1%
Revenue growth 27 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.
+13.7%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+1.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)0.0%
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.1.8% vs 6.0%, 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.40% → 30%
Start year 2020 (pandemic)
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA 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
Similar stocks
10 more Infrastructure Operations stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Transurban Group TCL | A$13.00 | A$4.92 | −62% |
| China Merchants Expressway Network & Technology Holdings 001965 | ¥9.88 | ¥13.02 | +32% |
| Shandong Hi-speed Company 600350 | ¥10.02 | ¥7.88 | −21% |
| Zhejiang Expressway Co 0576 | HK$5.90 | HK$16.36 | +177% |
| Anhui Expressway Company 600012 | ¥15.54 | ¥17.09 | +10% |
| Guangdong Provincial Expressway Development Co 000429 | ¥12.50 | ¥13.75 | +10% |
| Shenzhen Expressway Corporation 600548 | ¥8.06 | ¥9.51 | +18% |
| Sichuan Expressway Company 601107 | ¥6.09 | ¥6.70 | +10% |
| IRB Infrastructure Developers Limited IRB | ₹17.49 | ₹19.95 | +14% |
| CUBEINVIT CUBEINVIT | ₹154.79 | ₹44.34 | −71% |
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Frequently asked questions
Is Jiangsu Expressway Company (JEXYF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $2.28 versus a price of $1.40, about +63% upside (undervalued).
What is the fair value of JEXYF?
Our model-based fair value for Jiangsu Expressway Company is $2.28 (as of Sep 24, 2026), built from audited fundamentals. The current price: $1.40.
What is the quality score of JEXYF?
Jiangsu Expressway Company has a Quality Score of 41/100. 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 Jiangsu Expressway Company (JEXYF)?
Our model-based price target is the fair value of $2.28 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario $1.59, optimistic scenario $2.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Jiangsu Expressway Company stock forecast for 2026?
Our models put fair value at $2.28, about +63% upside versus a price of $1.40 (undervalued). Cautious scenario $1.59, optimistic scenario $2.96. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangsu Expressway Company (JEXYF)?
Jiangsu Expressway Company reported trailing-twelve-month revenue of about 20.0B CNY (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Jiangsu Expressway Company (JEXYF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangsu Expressway Company it is $2.28 per share (as of Sep 24, 2026), against a price of $1.40. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Jiangsu Expressway Company stock overvalued or undervalued in 2026?
As of Sep 24, 2026, JEXYF trades below its calculated fair value: price $1.40, fair value $2.28, a gap of about +63% (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 JEXYF?
No. The price is what the market pays today ($1.40); the fair value is what the company's own numbers justify ($2.28). For Jiangsu Expressway Company the two are $0.8800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangsu Expressway Company worth?
The market values Jiangsu Expressway Company at about $7.1B (market capitalisation, as of Sep 24, 2026). Per share that is $1.40; our models calculate a fair value of $2.28 per share.
What do the bullish and bearish scenarios say about JEXYF?
Our models span a range for Jiangsu Expressway Company: cautious scenario $1.59, base $2.28, optimistic $2.96 per share (as of Sep 24, 2026, price $1.40). The range comes from different growth and margin assumptions, not from analyst opinions.
Which stocks are comparable to Jiangsu Expressway Company?
From the same area (Industrials) we also value Transurban Group, China Merchants Expressway Network & Technology Holdings, Shandong Hi-speed Company, Zhejiang Expressway Co, 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 Jiangsu Expressway Company stock attractive at the current price?
The data as of Sep 24, 2026: price $1.40, calculated fair value $2.28 (+63%), Quality Score 41/100, from 14 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 JEXYF calculated?
We run Jiangsu Expressway Company through 14 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 $2.28, 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 14.5 % above its aggregate fair value. Jiangsu Expressway Company currently trades 39 % 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 Jiangsu Expressway Company (JEXYF)?
The closing price on Oct 2, 2026 was $1.40. Our model-based fair value is $2.28, about +63% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jiangsu Expressway Company right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($1.59). The market is more pessimistic than our downside scenario. A fairly wide model range ($1.59 to $2.96) leaves room in how you read the outcome.
Where does the earnings growth of Jiangsu Expressway Company (JEXYF) come from?
Earnings per share at Jiangsu Expressway Company grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.3 %, EBIT margin −3.8 %, tax rate +0.0 %, residual (interest, one-offs) +0.4 %. 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 Jiangsu Expressway Company
How large is the market capitalisation of Jiangsu Expressway Company (JEXYF)?
The market capitalisation of Jiangsu Expressway Company is $7.1B. 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/E ratio of Jiangsu Expressway Company (JEXYF)?
The price-to-earnings ratio of Jiangsu Expressway Company is 10.0 (as of Jun 21, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Jiangsu Expressway Company (JEXYF)?
The price-to-sales ratio of Jiangsu Expressway Company is 2.26 (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 Jiangsu Expressway Company (JEXYF)?
Earnings per share at Jiangsu Expressway Company are $0.1400 (price ÷ EPS = P/E 10.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Jiangsu Expressway Company (JEXYF)?
The net margin of Jiangsu Expressway Company is 22.6% (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 Jiangsu Expressway Company (JEXYF)?
The return on equity (ROE) of Jiangsu Expressway Company is 9.2% (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 Jiangsu Expressway Company (JEXYF)?
On an EBIT basis the return on assets of Jiangsu Expressway Company is 6.9% (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 Jiangsu Expressway Company (JEXYF)?
The operating margin of Jiangsu Expressway Company is 35.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jiangsu Expressway Company (JEXYF)?
Revenue at Jiangsu Expressway Company is growing −5.3% versus a year earlier (3y avg +15.2%). 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 Jiangsu Expressway Company (JEXYF)?
Earnings per share at Jiangsu Expressway Company are growing +12.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jiangsu Expressway Company (JEXYF) generate?
The free cash flow of Jiangsu Expressway Company is −865M 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 Jiangsu Expressway Company (JEXYF) carry?
The net debt of Jiangsu Expressway Company is 25.6B 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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