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Sichuan Expressway

DB:EXF1
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EXF1
DB
HK$10B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Sichuan Expressway Company Limited, together with its subsidiaries, invests in, constructs, operates, and manages expressway infrastructure projects in Sichuan Province, the People’s Republic of China. The last earnings update was 1 day ago. More info.


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  • Sichuan Expressway has significant price volatility in the past 3 months.
EXF1 Share Price and Events
7 Day Returns
-1%
DB:EXF1
11.3%
DE Infrastructure
9.9%
DE Market
1 Year Returns
-30.7%
DB:EXF1
-43.8%
DE Infrastructure
-17.5%
DE Market
EXF1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sichuan Expressway (EXF1) -1% -13.5% -23.8% -30.7% -50.3% -52.6%
DE Infrastructure 11.3% -34% -49.8% -43.8% -42.3% -21.2%
DE Market 9.9% -16.6% -24.8% -17.5% -24.5% -28.1%
1 Year Return vs Industry and Market
  • EXF1 outperformed the Infrastructure industry which returned -43.8% over the past year.
  • EXF1 underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
EXF1
Industry
5yr Volatility vs Market

EXF1 Value

 Is Sichuan Expressway undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sichuan Expressway to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sichuan Expressway.

DB:EXF1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in CNY CN¥ 0.123245
Payout Ratio Company Filings (2019-12-31) 11728.1%
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:EXF1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 25%) (188.17%))
1.507
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.51
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.507 * 6.33%)
9.15%

Discounted Cash Flow Calculation for DB:EXF1 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Sichuan Expressway is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:EXF1 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= CN¥0.12 / (9.15% - -0.39%)
CN¥0.01
DB:EXF1 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:107)
1.092
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.19 x 1.092
HK$1.3
Non-primary Listing Adjustment Factor 1 share in DB:EXF1 represents 0.10608x of SEHK:107
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10608x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 1.30 x 0.10608
€0.14
Value per share (EUR) From above. €0.14
Current discount Discount to share price of €0.19
= -1 x (€0.19 - €0.14) / €0.14
-38.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Sichuan Expressway is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sichuan Expressway's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sichuan Expressway's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:EXF1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.35
SEHK:107 Share Price ** SEHK (2020-03-31) in HKD HK$1.81
SEHK:107 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥1.66
Europe Infrastructure Industry PE Ratio Median Figure of 38 Publicly-Listed Infrastructure Companies 10.3x
Germany Market PE Ratio Median Figure of 399 Publicly-Listed Companies 16.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sichuan Expressway.

DB:EXF1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:107 Share Price ÷ EPS (both in CNY)

= 1.66 ÷ 0.35

4.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sichuan Expressway is good value based on earnings compared to the Europe Infrastructure industry average.
  • Sichuan Expressway is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Sichuan Expressway's expected growth come at a high price?
Raw Data
DB:EXF1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Europe Infrastructure Industry PEG Ratio Median Figure of 18 Publicly-Listed Infrastructure Companies 1.17x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sichuan Expressway, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sichuan Expressway's assets?
Raw Data
DB:EXF1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥4.99
SEHK:107 Share Price * SEHK (2020-03-31) in HKD HK$1.81
SEHK:107 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥1.66
Germany Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 0.9x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.43x
DB:EXF1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:107 Share Price ÷ Book Value per Share (both in CNY)

= 1.66 ÷ 4.99

0.33x

* Primary Listing of Sichuan Expressway.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sichuan Expressway is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess Sichuan Expressway's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Infrastructure industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Infrastructure industry average (and greater than 0)? (1 check)
  5. Sichuan Expressway has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

EXF1 Future Performance

 How is Sichuan Expressway expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.1%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Sichuan Expressway expected to grow at an attractive rate?
  • Sichuan Expressway's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Sichuan Expressway's earnings growth is positive but not above the Germany market average.
  • Sichuan Expressway's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:EXF1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:EXF1 Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.1%
DB:EXF1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.3%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 4.4%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:EXF1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:EXF1 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,557 1
2020-12-31 4,634 1
2020-03-31
DB:EXF1 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 6,408 1,829 1,083
2019-09-30 6,325 2,189 1,054
2019-06-30 6,221 2,670 1,026
2019-03-31 5,983 2,617 881
2018-12-31 5,969 2,620 849
2018-09-30 4,991 2,168 826
2018-06-30 5,860 1,813 899
2018-03-31 6,393 2,213 948
2017-12-31 6,452 1,780 829
2017-09-30 6,742 2,201 858
2017-06-30 6,108 2,453 880
2017-03-31 5,876 1,898 909

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sichuan Expressway's earnings are expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
  • Sichuan Expressway's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:EXF1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Sichuan Expressway Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:EXF1 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.35 0.35 0.35 1.00
2020-12-31 -0.10 -0.10 -0.10 1.00
2020-03-31
DB:EXF1 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.35
2019-09-30 0.34
2019-06-30 0.34
2019-03-31 0.29
2018-12-31 0.28
2018-09-30 0.27
2018-06-30 0.29
2018-03-31 0.31
2017-12-31 0.27
2017-09-30 0.28
2017-06-30 0.29
2017-03-31 0.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sichuan Expressway is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sichuan Expressway's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sichuan Expressway has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

EXF1 Past Performance

  How has Sichuan Expressway performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sichuan Expressway's growth in the last year to its industry (Infrastructure).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sichuan Expressway's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Sichuan Expressway's 1-year earnings growth exceeds its 5-year average (27.5% vs -1.2%)
  • Sichuan Expressway's earnings growth has exceeded the Europe Infrastructure industry average in the past year (27.5% vs 6.9%).
Earnings and Revenue History
Sichuan Expressway's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sichuan Expressway Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:EXF1 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 6,407.61 1,082.67 364.68
2019-09-30 6,325.14 1,054.38 345.36
2019-06-30 6,220.53 1,026.18 338.44
2019-03-31 5,982.80 881.04 325.75
2018-12-31 5,969.02 849.20 314.81
2018-09-30 4,990.63 826.46 322.08
2018-06-30 5,860.31 898.67 320.15
2018-03-31 6,393.11 947.92 321.73
2017-12-31 6,452.09 829.14 325.30
2017-09-30 6,742.05 857.81 328.35
2017-06-30 6,108.32 879.85 317.37
2017-03-31 5,876.04 908.70 311.17
2016-12-31 5,979.91 971.13 302.97
2016-09-30 9,812.15 1,200.46 259.05
2016-06-30 9,904.39 1,114.95 250.73
2016-03-31 9,795.60 1,049.75 239.46
2015-12-31 9,607.70 995.68 241.58
2015-09-30 7,288.02 940.69 236.42
2015-06-30 7,200.69 971.89 227.01
2015-03-31 8,225.00 992.79 229.68
2014-12-31 8,300.36 969.21 220.31
2014-09-30 8,262.78 1,077.89 216.81
2014-06-30 8,528.37 1,087.48 214.33
2014-03-31 7,756.83 1,017.04 207.81
2013-12-31 7,134.86 1,010.28 198.48
2013-09-30 6,048.58 1,016.21 181.45
2013-06-30 5,066.48 1,010.29 177.77

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Sichuan Expressway has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sichuan Expressway used its assets less efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Sichuan Expressway has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sichuan Expressway's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Infrastructure industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sichuan Expressway has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

EXF1 Health

 How is Sichuan Expressway's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sichuan Expressway's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sichuan Expressway is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sichuan Expressway's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Sichuan Expressway's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sichuan Expressway Company Filings, last reported 3 months ago.

DB:EXF1 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 16,150.83 16,553.31 3,069.74
2019-09-30 16,226.85 17,007.09 4,024.27
2019-06-30 15,943.43 17,348.17 4,645.12
2019-03-31 15,341.66 17,562.79 3,810.77
2018-12-31 14,884.40 17,441.88 3,673.68
2018-09-30 14,959.48 17,872.26 3,639.71
2018-06-30 14,702.48 17,140.58 2,644.45
2018-03-31 14,745.78 17,471.65 3,403.64
2017-12-31 14,284.71 16,845.65 2,801.15
2017-09-30 14,540.97 17,971.85 4,315.58
2017-06-30 14,184.56 17,914.85 4,505.64
2017-03-31 14,170.26 17,106.10 3,235.37
2016-12-31 13,884.03 17,226.13 3,961.43
2016-09-30 13,992.08 16,925.20 3,489.80
2016-06-30 13,625.70 17,295.20 3,487.87
2016-03-31 13,646.25 16,372.44 2,659.49
2015-12-31 13,296.65 16,082.44 3,202.80
2015-09-30 13,042.18 14,696.42 2,385.95
2015-06-30 12,782.57 14,100.92 2,748.15
2015-03-31 12,662.62 13,679.48 3,294.04
2014-12-31 12,367.40 13,014.03 3,752.08
2014-09-30 12,200.83 12,905.59 4,016.73
2014-06-30 11,873.13 12,405.15 3,334.19
2014-03-31 11,802.62 11,286.98 2,844.73
2013-12-31 11,530.64 9,889.41 1,930.43
2013-09-30 11,302.09 8,931.50 2,349.69
2013-06-30 10,967.34 8,741.02 2,398.21
  • Sichuan Expressway's level of debt (102.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (105.3% vs 102.5% today).
  • Debt is not well covered by operating cash flow (11%, less than 20% of total debt).
  • Sichuan Expressway earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Sichuan Expressway's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sichuan Expressway has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

EXF1 Dividends

 What is Sichuan Expressway's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.03%
Current annual income from Sichuan Expressway dividends. Estimated to be 7.44% next year.
If you bought €2,000 of Sichuan Expressway shares you are expected to receive €121 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sichuan Expressway's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Sichuan Expressway's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:EXF1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 7.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:EXF1 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.13 1.00
2020-12-31 0.12 1.00
2020-03-31
DB:EXF1 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.100 4.846
2018-06-05 0.100 4.701
2017-03-30 0.110 4.327
2016-05-31 0.080 3.111
2015-06-08 0.080 3.644
2014-06-16 0.080 3.256
2013-08-29 0.080 4.504
2013-04-02 0.080 4.626
2012-03-29 0.090 4.280
2011-04-07 0.087 3.034
2010-10-29 0.000 0.000
2010-03-09 0.194 4.779
2009-10-27 0.260 7.409
2009-08-27 0.260 9.158

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Sichuan Expressway's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Sichuan Expressway's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sichuan Expressway afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sichuan Expressway has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

EXF1 Management

 What is the CEO of Sichuan Expressway's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yongyi Gan
COMPENSATION CN¥537,000
AGE 56
TENURE AS CEO 7.3 years
CEO Bio

Mr. Yongyi Gan has been General Manager of Sichuan Expressway Company Limited since November 16, 2012 and serves as its Chairman of the Board since January 17, 2020. Mr. Gan served as a Deputy General Manager of Sichuan Expressway Company Limited. He has extensive and concrete experience in the construction and management of roads and bridges. He served as the deputy general manager of Sichuan Road and Bridge Company Limited. He had been Vice Chairman and Executive Director at Sichuan Expressway Company Limited since March 28, 2013 until January 17, 2020. Mr. Gan graduated from Chongqing Jiaotong Institute and holds the title of senior engineer. Mr. Gan graduated from Chongqing Jiaotong College with a bachelor degree in civil engineering of road and bridge transportation and from Sichuan University with a master's degree in management and engineering.

CEO Compensation
  • Yongyi's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Yongyi's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Sichuan Expressway management team in years:

7.3
Average Tenure
54
Average Age
  • The average tenure for the Sichuan Expressway management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Yongyi Gan

TITLE
Chairman & GM
COMPENSATION
CN¥537K
AGE
56
TENURE
7.3 yrs

Maoquan Luo

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥438K
AGE
54
TENURE
13.3 yrs

Guo Renrong

TITLE
CFO & Financial Controller
AGE
46
TENURE
2.4 yrs

Junjie Liu

TITLE
Deputy General Manager
AGE
55
TENURE
11 yrs

Zhuqing He

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥329K
AGE
43

Layi Heibi

TITLE
Deputy General Manager
TENURE
0.4 yrs

Yongnian Zhang

TITLE
Secretary to the Board
AGE
56
TENURE
22.6 yrs

Yi Tian

TITLE
Secretary of Discipline Inspection Commission
COMPENSATION
CN¥348K
AGE
51
TENURE
4.8 yrs
Board of Directors Tenure

Average tenure and age of the Sichuan Expressway board of directors in years:

0.3
Average Tenure
54.5
Average Age
  • The average tenure for the Sichuan Expressway board of directors is less than 3 years, this suggests a new board.
Board of Directors

Yongyi Gan

TITLE
Chairman & GM
COMPENSATION
CN¥537K
AGE
56
TENURE
0.2 yrs

Shilin Ni

TITLE
Vice Chairman
AGE
52

Maoquan Luo

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥438K
AGE
54
TENURE
3.7 yrs

Zhuqing He

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥329K
AGE
43
TENURE
0.7 yrs

Bing Feng

TITLE
Chairman of the Supervisory Committee
COMPENSATION
CN¥446K
AGE
56
TENURE
7 yrs

Lina Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥80K
AGE
61
TENURE
3.7 yrs

Jinkang Gao

TITLE
Independent Non-Executive Director
AGE
55
TENURE
0.3 yrs

Danlu Bu

TITLE
Independent Non-Executive Director
TENURE
0.3 yrs

Wenhu Li

TITLE
Non-Executive Director
COMPENSATION
CN¥348K
AGE
42
TENURE
0.3 yrs

Zhiming You

TITLE
Non-Executive Director
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Sep 19 Buy China Merchants Group Limited Company 17. Sep 19 17. Sep 19 594,000 €0.27 €159,757
10. Jul 19 Buy China Merchants Group Limited Company 09. Jul 19 09. Jul 19 246,000 €0.27 €67,448
X
Management checks
We assess Sichuan Expressway's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sichuan Expressway has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

EXF1 News

Simply Wall St News

EXF1 Company Info

Description

Sichuan Expressway Company Limited, together with its subsidiaries, invests in, constructs, operates, and manages expressway infrastructure projects in Sichuan Province, the People’s Republic of China. It operates through five segments: Toll Operation, Construction Contracts, Sale of Products, Property Development, and Others. The Toll Operation segment engages in the operation of expressways and a high-grade toll bridge in Mainland China. The Construction Contracts segment provides construction and upgradation services under the service concession arrangements and construction contracts. The Sale of Products segment is involved in the operation of gas stations along expressways; and the sale of petrochemicals and other oil products. The Property Development segment invests in and develops properties in Mainland China. The Others segment engages in the advertising and finance leasing operations, as well as rents properties along expressways. The company was incorporated in 1997 and is based in Chengdu, the People’s Republic of China.

Details
Name: Sichuan Expressway Company Limited
EXF1
Exchange: DB
Founded: 1997
HK$1,132,998,539
3,058,060,000
Website: http://www.cygs.com
Address: Sichuan Expressway Company Limited
252 Wuhouci Da Jie,
Chengdu,
Sichuan Province, 610041,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 107 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 10. Oct 1997
OTCPK SEXH.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 10. Oct 1997
DB EXF1 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 10. Oct 1997
SHSC 107 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 10. Oct 1997
SZSC 107 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 10. Oct 1997
SHSE 601107 Domestic Shares Shanghai Stock Exchange CN CNY 27. Jul 2009
XSSC 601107 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 27. Jul 2009
Number of employees
Current staff
Staff numbers
4,462
Sichuan Expressway employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 20:45
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/30
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.