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Yuexiu Transport Infrastructure

DB:GZ3
Snowflake Description

Very undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GZ3
DB
HK$8B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Yuexiu Transport Infrastructure Limited, together with its subsidiaries, invests in, develops, operates, and manages toll expressways and bridges in the People’s Republic of China. The last earnings update was 24 days ago. More info.


Add to Portfolio Compare Print
  • Yuexiu Transport Infrastructure has significant price volatility in the past 3 months.
GZ3 Share Price and Events
7 Day Returns
9.6%
DB:GZ3
6.6%
DE Infrastructure
7.3%
DE Market
1 Year Returns
-24.8%
DB:GZ3
-42.7%
DE Infrastructure
-17.7%
DE Market
GZ3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yuexiu Transport Infrastructure (GZ3) 9.6% -20.7% -34% -24.8% -23.2% -9.2%
DE Infrastructure 6.6% -32.4% -48.6% -42.7% -41.2% -17.3%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • GZ3 outperformed the Infrastructure industry which returned -42.7% over the past year.
  • GZ3 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
GZ3
Industry
5yr Volatility vs Market

Value

 Is Yuexiu Transport Infrastructure 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 Yuexiu Transport Infrastructure 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 Yuexiu Transport Infrastructure.

DB:GZ3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:GZ3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
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%) (256.62%))
1.757
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.76
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.757 * 6.07%)
10.28%

Discounted Cash Flow Calculation for DB:GZ3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yuexiu Transport Infrastructure is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:GZ3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.28%)
2020 2,041.26 Est @ 0.93% 1,851.01
2021 2,052.17 Est @ 0.53% 1,687.47
2022 2,057.45 Est @ 0.26% 1,534.13
2023 2,058.74 Est @ 0.06% 1,392.02
2024 2,057.24 Est @ -0.07% 1,261.37
2025 2,053.78 Est @ -0.17% 1,141.89
2026 2,048.96 Est @ -0.23% 1,033.03
2027 2,043.20 Est @ -0.28% 934.12
2028 2,036.79 Est @ -0.31% 844.40
2029 2,029.93 Est @ -0.34% 763.12
Present value of next 10 years cash flows CN¥12,442.00
DB:GZ3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥2,029.93 × (1 + -0.39%) ÷ (10.28% – -0.39%)
CN¥18,954.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥18,954.10 ÷ (1 + 10.28%)10
CN¥7,125.52
DB:GZ3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥12,442.00 + CN¥7,125.52
CN¥19,567.52
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥19,567.52 / 1,673.16
CN¥11.69
DB:GZ3 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1052)
1.092
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥11.69 x 1.092
HK$12.77
Non-primary Listing Adjustment Factor 1 share in DB:GZ3 represents 0.11456x of SEHK:1052
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11456x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 12.77 x 0.11456
€1.46
Value per share (EUR) From above. €1.46
Current discount Discount to share price of €0.54
= -1 x (€0.54 - €1.46) / €1.46
63.4%

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

Current Discount
Amount off the current price Yuexiu Transport Infrastructure is available for.
Intrinsic value
>50%
Share price is €0.54 vs Future cash flow value of €1.46
Current Discount Checks
For Yuexiu Transport Infrastructure to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Yuexiu Transport Infrastructure's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Yuexiu Transport Infrastructure's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Yuexiu Transport Infrastructure's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yuexiu Transport Infrastructure's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GZ3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.68
SEHK:1052 Share Price ** SEHK (2020-03-30) in HKD HK$4.67
SEHK:1052 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥4.28
Europe Infrastructure Industry PE Ratio Median Figure of 38 Publicly-Listed Infrastructure Companies 11.07x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of Yuexiu Transport Infrastructure.

DB:GZ3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1052 Share Price ÷ EPS (both in CNY)

= 4.28 ÷ 0.68

6.29x

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

  • Yuexiu Transport Infrastructure is good value based on earnings compared to the Europe Infrastructure industry average.
  • Yuexiu Transport Infrastructure is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Yuexiu Transport Infrastructure's expected growth come at a high price?
Raw Data
DB:GZ3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
14.5%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 18 Publicly-Listed Infrastructure Companies 1.18x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:GZ3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.29x ÷ 14.5%

0.43x

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

  • Yuexiu Transport Infrastructure is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Yuexiu Transport Infrastructure's assets?
Raw Data
DB:GZ3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥6.32
SEHK:1052 Share Price * SEHK (2020-03-30) in HKD HK$4.67
SEHK:1052 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥4.28
Germany Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 0.96x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:GZ3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1052 Share Price ÷ Book Value per Share (both in CNY)

= 4.28 ÷ 6.32

0.68x

* Primary Listing of Yuexiu Transport Infrastructure.

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

  • Yuexiu Transport Infrastructure is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess Yuexiu Transport Infrastructure'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. Yuexiu Transport Infrastructure has a total score of 6/6, 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.

Future Performance

 How is Yuexiu Transport Infrastructure expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
14.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yuexiu Transport Infrastructure expected to grow at an attractive rate?
  • Yuexiu Transport Infrastructure's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Yuexiu Transport Infrastructure's earnings growth is expected to exceed the Germany market average.
  • Yuexiu Transport Infrastructure's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GZ3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GZ3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 14.5%
DB:GZ3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 16%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
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:GZ3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GZ3 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,732 3,455 1,451 2
2021-12-31 4,052 2,644 1,270 3
2020-12-31 2,237 3,397 394 3
2020-03-30
DB:GZ3 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 3,324 2,142 1,138
2019-09-30 3,154 2,148 1,182
2019-06-30 2,983 2,153 1,227
2019-03-31 2,979 2,125 1,140
2018-12-31 2,974 2,097 1,054
2018-09-30 2,983 2,105 1,042
2018-06-30 2,992 2,113 1,030
2018-03-31 2,899 2,028 989
2017-12-31 2,806 1,943 948
2017-09-30 2,658 1,804 949
2017-06-30 2,510 1,666 949
2017-03-31 2,541 1,694 934

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yuexiu Transport Infrastructure's earnings are expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
  • Yuexiu Transport Infrastructure's revenue is expected to grow by 16% 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:GZ3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Yuexiu Transport Infrastructure Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GZ3 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.90 0.93 0.87 2.00
2021-12-31 0.77 0.78 0.75 3.00
2020-12-31 0.22 0.34 0.13 3.00
2020-03-30
DB:GZ3 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.68
2019-09-30 0.71
2019-06-30 0.73
2019-03-31 0.68
2018-12-31 0.63
2018-09-30 0.62
2018-06-30 0.62
2018-03-31 0.59
2017-12-31 0.57
2017-09-30 0.57
2017-06-30 0.57
2017-03-31 0.56

*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.
  • Yuexiu Transport Infrastructure is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Yuexiu Transport Infrastructure'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.
Yuexiu Transport Infrastructure has a total score of 3/6, 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.

Past Performance

  How has Yuexiu Transport Infrastructure 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 Yuexiu Transport Infrastructure'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.
  • Yuexiu Transport Infrastructure's year on year earnings growth rate has been positive over the past 5 years.
  • Yuexiu Transport Infrastructure's 1-year earnings growth is less than its 5-year average (7.9% vs 16.2%)
  • Yuexiu Transport Infrastructure's earnings growth has exceeded the Europe Infrastructure industry average in the past year (7.9% vs 6.9%).
Earnings and Revenue History
Yuexiu Transport Infrastructure'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 Yuexiu Transport Infrastructure Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GZ3 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 3,323.73 1,137.59 271.82
2019-09-30 3,153.59 1,182.19 242.38
2019-06-30 2,983.44 1,226.78 212.93
2019-03-31 2,978.86 1,140.46 219.02
2018-12-31 2,974.28 1,054.14 225.11
2018-09-30 2,983.03 1,042.22 216.02
2018-06-30 2,991.79 1,030.30 206.92
2018-03-31 2,898.73 989.12 201.56
2017-12-31 2,805.68 947.94 196.19
2017-09-30 2,657.92 948.61 199.09
2017-06-30 2,510.17 949.27 201.99
2017-03-31 2,540.59 934.04 204.11
2016-12-31 2,571.02 918.82 206.24
2016-09-30 2,674.72 739.79 204.06
2016-06-30 2,778.42 560.77 201.89
2016-03-31 2,613.82 546.43 200.85
2015-12-31 2,449.22 532.09 199.82
2015-09-30 2,203.36 585.94 200.33
2015-06-30 1,957.50 639.78 200.85
2015-03-31 1,925.01 624.58 202.41
2014-12-31 1,892.52 609.37 203.98
2014-09-30 1,888.71 599.47 205.33
2014-06-30 1,884.90 589.57 206.69
2014-03-31 1,872.55 571.99 204.83
2013-12-31 1,860.20 554.42 202.97
2013-09-30 1,775.45 496.84 203.68
2013-06-30 1,690.70 439.27 204.38
2013-03-31 1,620.34 433.09 199.84

*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.
  • Yuexiu Transport Infrastructure has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yuexiu Transport Infrastructure used its assets less efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Yuexiu Transport Infrastructure's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yuexiu Transport Infrastructure'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.
Yuexiu Transport Infrastructure has a total score of 2/6, 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.

Health

 How is Yuexiu Transport Infrastructure'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 Yuexiu Transport Infrastructure's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yuexiu Transport Infrastructure's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Yuexiu Transport Infrastructure's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Yuexiu Transport Infrastructure'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 0.1x 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 Yuexiu Transport Infrastructure Company Filings, last reported 2 months ago.

DB:GZ3 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 13,628.75 18,345.87 1,435.06
2019-09-30 13,628.75 18,345.87 1,435.06
2019-06-30 12,792.48 6,819.10 2,186.84
2019-03-31 12,792.48 6,819.10 2,186.84
2018-12-31 12,407.58 7,613.06 2,393.22
2018-09-30 12,407.58 7,613.06 2,393.22
2018-06-30 11,983.50 8,697.94 2,778.93
2018-03-31 11,983.50 8,697.94 2,778.93
2017-12-31 11,817.40 9,496.45 2,958.82
2017-09-30 11,817.40 9,496.45 2,958.82
2017-06-30 11,415.55 8,420.90 1,130.32
2017-03-31 11,415.55 8,420.90 1,130.32
2016-12-31 11,304.30 8,578.93 1,045.92
2016-09-30 11,304.30 8,578.93 1,045.92
2016-06-30 10,961.84 9,256.41 1,083.40
2016-03-31 10,961.84 9,256.41 1,083.40
2015-12-31 10,829.09 9,353.14 876.67
2015-09-30 10,829.09 9,353.14 876.67
2015-06-30 10,433.77 5,828.82 2,164.96
2015-03-31 10,433.77 5,828.82 2,164.96
2014-12-31 10,444.57 5,104.47 1,150.91
2014-09-30 10,444.57 5,104.47 1,150.91
2014-06-30 10,279.62 5,472.51 1,162.89
2014-03-31 10,279.62 5,472.51 1,162.89
2013-12-31 10,278.33 5,886.14 1,626.68
2013-09-30 10,278.33 5,886.14 1,626.68
2013-06-30 10,269.61 6,377.83 1,125.93
2013-03-31 10,269.61 6,377.83 1,125.93
  • Yuexiu Transport Infrastructure's level of debt (134.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (48.9% vs 134.6% today).
  • Debt is not well covered by operating cash flow (11.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess Yuexiu Transport Infrastructure'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. Yuexiu Transport Infrastructure has a total score of 1/6, 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.

Dividends

 What is Yuexiu Transport Infrastructure'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
8.19%
Current annual income from Yuexiu Transport Infrastructure dividends. Estimated to be 7.28% next year.
If you bought €2,000 of Yuexiu Transport Infrastructure shares you are expected to receive €164 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?
  • Yuexiu Transport Infrastructure's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Yuexiu Transport Infrastructure's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase Yuexiu Transport Infrastructure before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:GZ3 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 3 Analyst Estimates (S&P Global) See Below
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 6.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
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:GZ3 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.49 1.00
2021-12-31 0.40 2.00
2020-12-31 0.14 2.00
2020-03-30
DB:GZ3 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-06 0.350 8.084
2019-04-23 0.337 5.759
2019-02-18 0.337 6.238
2018-08-09 0.316 6.006
2018-03-26 0.297 6.036
2018-02-12 0.297 6.171
2017-03-06 0.288 5.863
2017-02-13 0.288 6.025
2016-03-07 0.230 5.133
2016-02-22 0.230 5.727
2015-04-20 0.222 5.316
2015-03-17 0.222 5.432
2014-04-23 0.206 5.441
2014-03-19 0.206 6.525
2013-04-29 0.163 5.185
2013-03-18 0.163 5.032
2012-03-21 0.192 6.444
2011-03-16 0.178 6.143
2010-09-06 0.185 5.182
2010-03-16 0.139 3.965
2009-08-25 0.105 3.927
2009-04-14 0.141 5.512

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Yuexiu Transport Infrastructure's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Yuexiu Transport Infrastructure's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Yuexiu Transport Infrastructure afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yuexiu Transport Infrastructure has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Yuexiu Transport Infrastructure'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
Baiqing He
COMPENSATION CN¥2,722,000
AGE 54
CEO Bio

Mr. Baiqing He has been a General Manager at Yuexiu Transport Infrastructure Limited since January 1, 2013. Mr. He served as Deputy head, Head and senior engineer of Guangzhou Highway Inspection and Design Institute. Mr. He served as an Executive Director of GZI Transport Ltd. from April 2005 to April 12, 2007. Mr. He has 16 years of experience in highway design and management and was experienced in the planning and design of highways. He has been Deputy Chairman of Yuexiu Transport Infrastructure Limited since July 31, 2014. He has been an Executive Director of Yuexiu Transport Infrastructure Limited since March 19, 2014. He graduated from Changsha Transport Institute in China with a major in Highway and City Roads with a bachelor 's degree.

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

Feng Li

TITLE
Chairman
COMPENSATION
CN¥1M
AGE
50
TENURE
0.7 yrs

Baiqing He

TITLE
Deputy Chairman & GM
COMPENSATION
CN¥3M
AGE
54

Jing Chen

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
47

Yanhui Xie

TITLE
Executive Director
AGE
41

Tat Fung Yu

TITLE
Company Secretary
TENURE
16.2 yrs
Board of Directors Tenure

Average tenure and age of the Yuexiu Transport Infrastructure board of directors in years:

14.2
Average Tenure
54
Average Age
  • The average tenure for the Yuexiu Transport Infrastructure board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Feng Li

TITLE
Chairman
COMPENSATION
CN¥1M
AGE
50
TENURE
0.7 yrs

Baiqing He

TITLE
Deputy Chairman & GM
COMPENSATION
CN¥3M
AGE
54
TENURE
5.7 yrs

Jing Chen

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
47
TENURE
1.9 yrs

Yanhui Xie

TITLE
Executive Director
AGE
41

Ambrose Lau

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥245K
AGE
72
TENURE
23.3 yrs

K.B. Fung Fung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
73
TENURE
23.3 yrs

Doi Shu Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
57
TENURE
22.7 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 (€)
14. Nov 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Nov 19 11. Nov 19 -15,278,000 €0.83 €-12,731,224
12. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 09. Sep 19 09. Sep 19 3,182,000 €0.73 €2,326,712
04. Jun 19 Sell J.P. Morgan Asset Management, Inc. Company 31. May 19 31. May 19 -534,000 €0.70 €-372,436
X
Management checks
We assess Yuexiu Transport Infrastructure'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. Yuexiu Transport Infrastructure 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.

News

Simply Wall St News

Company Info

Description

Yuexiu Transport Infrastructure Limited, together with its subsidiaries, invests in, develops, operates, and manages toll expressways and bridges in the People’s Republic of China. As of December 31, 2018, the company had a total of 12 investments in operating expressways and bridge projects comprising Guangzhou Northern Second Ring Expressway, Guangzhou Western Second Ring Expressway, Guangzhou Northern Ring Road, Guangdong Humen Bridge, Shantou Bay Bridge, and Qinglian Expressway located in the Guangdong Province; Cangyu Expressway in Guangxi Zhuang Autonomous Region; Jinbao Expressway in Tianjin Municipality; Han-Xiao Expressway and Suiyuenan Expressway in Hubei Province; Changzhu Expressway in Hunan Province; and Weixiu Expressway in Henan Province with a total attributable toll length of approximately 358.4 kilometers. It also holds properties. The company was formerly known as GZI Transport Limited and changed its name to Yuexiu Transport Infrastructure Limited in May 2011. Yuexiu Transport Infrastructure Limited is headquartered in Wanchai, Hong Kong. Yuexiu Transport Infrastructure Limited is a subsidiary of Yue Xiu Enterprises (Holdings) Limited.

Details
Name: Yuexiu Transport Infrastructure Limited
GZ3
Exchange: DB
Founded:
HK$913,370,140
1,673,162,295
Website: http://www.yuexiutransportinfrastructure.com
Address: Yuexiu Transport Infrastructure Limited
17A, Yue Xiu Building,
160 Lockhart Road,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1052 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Jan 1997
OTCPK GZIT.F Ordinary Shares Pink Sheets LLC US USD 30. Jan 1997
DB GZ3 Ordinary Shares Deutsche Boerse AG DE EUR 30. Jan 1997
SHSC 1052 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Jan 1997
SZSC 1052 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Jan 1997
Number of employees
Current staff
Staff numbers
1,997
Yuexiu Transport Infrastructure employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:34
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/06
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.