Zhejiang Expressway Co (ZHEXF) fair value: what the stock is really worth
We calculate from audited financials what Zhejiang Expressway Co is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Zhejiang Expressway Co
ZHEXF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
What runs behind every stock
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, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $0.0773 – $0.9037 · fair‑value band $2.03 – $2.73 · the $0.7800 price screens below the $2.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Company profile
Zhejiang Expressway Co., Ltd., an investment holding company, invests, develops, maintains, and operates roads in the People's Republic of China. It operates through Toll Operation, Securities Operation, and Others segments. The Toll Operation segment operates and manages high grade roads; and collects expressway tolls.
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Zhejiang Expressway Co., Ltd., an investment holding company, invests, develops, maintains, and operates roads in the People's Republic of China. It operates through Toll Operation, Securities Operation, and Others segments. The Toll Operation segment operates and manages high grade roads; and collects expressway tolls. The Securities Operation segment offers securities and future broking, margin financing and securities lending, securities underwriting and sponsorship, asset management, advisory, and proprietary trading services. The Others segment engages in hotel operation, high grade road construction, investment in other financial institutions, and other ancillary activities. It provides vehicle towing, repair and emergency, and rescue services, as well as investment management, advisory services, private equity investments and; and technology services. The company was incorporated in 1997 and is headquartered in Hangzhou, the People's Republic of China. Zhejiang Expressway Co., Ltd. operates as a subsidiary of Zhejiang Communications Investment Group Co., Ltd.
Stock analysis
Zhejiang Expressway Co (ZHEXF) currently trades at $0.7800, while our model-based Fair Value estimate is $2.10, implying the stock looks roughly 62.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $16.86 per share, and 26 of the 26 models we run sit above the $0.7800 price.
Bear case: the Asset-Based group reads lowest at $5.62, and 0 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: $2.03 (bear) to $2.73 (bull), the price of $0.7800 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 37/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zhejiang Expressway Co reported revenue of 19.2B CNY in FY2025 versus 16.3B CNY in FY2021, a compound +4.3%/yr. Reported net income was 5.2B CNY in FY2025, compounding +2.2%/yr from FY2021.
Key figures
Market cap $5.1B · P/E ratio 6.4 · P/S ratio 1.72 · EPS (TTM) $0.1300 · Net margin 27.0% · Return on equity 9.3% · Return on assets (EBIT) 3.1% · Operating margin 38.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 2% above 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 169%, ZHEXF screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 51
Revenue & earnings trend
Growth Forecast
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Compare Zhejiang Expressway Co with another stock
Price, fair value, quality and upside side by side.
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 · 65 stocks
Valuation Multiplesvs Infrastructure Operations median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- 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.
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$13.72 | A$1.84 | −87% |
| China Merchants Expressway Network & Technology Holdings 001965 | ¥9.80 | ¥11.91 | +22% |
| Jiangsu Expressway Company 600377 | ¥12.60 | ¥14.47 | +15% |
| Shandong Hi-speed Company 600350 | ¥10.15 | ¥8.04 | −21% |
| Guangdong Provincial Expressway Development Co 000429 | ¥12.64 | ¥13.90 | +10% |
| Anhui Expressway Company 600012 | ¥15.78 | ¥17.36 | +10% |
| Shenzhen Expressway Corporation 600548 | ¥8.20 | ¥9.16 | +12% |
| IRB Infrastructure Developers Limited IRB | ₹19.64 | ₹21.60 | +10% |
| Sichuan Expressway Company 601107 | ¥5.89 | ¥6.48 | +10% |
| CUBEINVIT CUBEINVIT | ₹156.80 | ₹46.01 | −71% |
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Frequently asked questions
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Key figures of Zhejiang Expressway Co
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