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Anhui Expressway

DB:HU7
Snowflake Description

Flawless balance sheet 6 star dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HU7
DB
HK$8B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Anhui Expressway Company Limited constructs, operates, manages, and develops toll roads and associated service sections in the Anhui Province, the People's Republic of China. The last earnings update was 2 days ago. More info.


Add to Portfolio Compare Print
  • Anhui Expressway has significant price volatility in the past 3 months.
HU7 Share Price and Events
7 Day Returns
3.4%
DB:HU7
11.3%
DE Infrastructure
9.9%
DE Market
1 Year Returns
-25.9%
DB:HU7
-43.8%
DE Infrastructure
-17.5%
DE Market
HU7 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anhui Expressway (HU7) 3.4% -13.1% -16.5% -25.9% -40.3% -36%
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
  • HU7 outperformed the Infrastructure industry which returned -43.8% over the past year.
  • HU7 underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
HU7
Industry
5yr Volatility vs Market

Value

 Is Anhui 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 Anhui 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 Anhui Expressway.

DB:HU7 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 5.5%
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:HU7
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%) (29.68%))
0.927
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.927 * 6.33%)
5.48%

Discounted Cash Flow Calculation for DB:HU7 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Anhui Expressway 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:HU7 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5.48%)
2020 591.66 Est @ -5.23% 560.94
2021 569.29 Est @ -3.78% 511.71
2022 553.56 Est @ -2.76% 471.74
2023 542.21 Est @ -2.05% 438.08
2024 533.79 Est @ -1.55% 408.88
2025 527.36 Est @ -1.2% 382.99
2026 522.30 Est @ -0.96% 359.62
2027 518.18 Est @ -0.79% 338.26
2028 514.71 Est @ -0.67% 318.55
2029 511.70 Est @ -0.59% 300.24
Present value of next 10 years cash flows CN¥4,091.00
DB:HU7 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥511.70 × (1 + -0.39%) ÷ (5.48% – -0.39%)
CN¥8,688.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥8,688.82 ÷ (1 + 5.48%)10
CN¥5,098.19
DB:HU7 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥4,091.00 + CN¥5,098.19
CN¥9,189.19
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥9,189.19 / 1,658.61
CN¥5.54
DB:HU7 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:995)
1.092
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥5.54 x 1.092
HK$6.05
Non-primary Listing Adjustment Factor 1 share in DB:HU7 represents 0.11152x of SEHK:995
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11152x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 6.05 x 0.11152
€0.67
Value per share (EUR) From above. €0.67
Current discount Discount to share price of €0.43
= -1 x (€0.43 - €0.67) / €0.67
36.9%

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

Current Discount
Amount off the current price Anhui Expressway is available for.
Intrinsic value
37%
Share price is €0.426 vs Future cash flow value of €0.67487
Current Discount Checks
For Anhui Expressway to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Anhui Expressway's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Anhui Expressway's share price is below the future cash flow value, but not 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 Anhui Expressway's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anhui Expressway's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HU7 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.66
SEHK:995 Share Price ** SEHK (2020-03-31) in HKD HK$3.82
SEHK:995 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥3.5
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 Anhui Expressway.

DB:HU7 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:995 Share Price ÷ EPS (both in CNY)

= 3.5 ÷ 0.66

5.29x

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

  • Anhui Expressway is good value based on earnings compared to the Europe Infrastructure industry average.
  • Anhui Expressway is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Anhui Expressway's expected growth come at a high price?
Raw Data
DB:HU7 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
9.2%per year
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 .

DB:HU7 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.29x ÷ 9.2%

0.58x

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

  • Anhui Expressway is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Anhui Expressway's assets?
Raw Data
DB:HU7 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥6.47
SEHK:995 Share Price * SEHK (2020-03-31) in HKD HK$3.82
SEHK:995 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥3.5
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:HU7 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:995 Share Price ÷ Book Value per Share (both in CNY)

= 3.5 ÷ 6.47

0.54x

* Primary Listing of Anhui Expressway.

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

  • Anhui Expressway is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess Anhui 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. Anhui Expressway has a total score of 5/6, 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 Anhui Expressway 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
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anhui Expressway expected to grow at an attractive rate?
  • Anhui Expressway's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Anhui Expressway's earnings growth is positive but not above the Germany market average.
  • Anhui Expressway's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HU7 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HU7 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 9.2%
DB:HU7 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 10.4%
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:HU7 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:HU7 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,616 2,044 1,313 2
2020-12-31 3,445 2,054 1,229 3
2020-03-31
DB:HU7 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 2,946 1,823 1,098
2019-09-30 2,948 1,861 1,117
2019-06-30 2,967 1,892 1,115
2019-03-31 2,988 1,802 1,144
2018-12-31 2,967 1,808 1,123
2018-09-30 2,963 1,840 1,117
2018-06-30 2,931 1,804 1,123
2018-03-31 2,873 1,904 1,066
2017-12-31 2,861 1,883 1,091
2017-09-30 2,769 1,873 1,058
2017-06-30 2,647 1,814 976
2017-03-31 2,539 1,778 973

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anhui Expressway's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Anhui Expressway's revenue is expected to grow by 10.4% 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:HU7 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 3 Analyst Estimates (S&P Global) See Below

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

DB:HU7 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.67 0.74 0.60 2.00
2020-12-31 0.34 0.34 0.34 1.00
2020-03-31
DB:HU7 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.66
2019-09-30 0.67
2019-06-30 0.67
2019-03-31 0.69
2018-12-31 0.68
2018-09-30 0.67
2018-06-30 0.68
2018-03-31 0.64
2017-12-31 0.66
2017-09-30 0.64
2017-06-30 0.59
2017-03-31 0.59

*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.
  • Anhui Expressway is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Anhui 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.
Anhui Expressway has a total score of 2/6, 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 Anhui 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 Anhui 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.
  • Anhui Expressway's year on year earnings growth rate has been positive over the past 5 years.
  • Anhui Expressway's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Anhui Expressway's 1-year earnings growth is negative, it can't be compared to the Europe Infrastructure industry average.
Earnings and Revenue History
Anhui 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 Anhui Expressway Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HU7 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 2,946.42 1,097.55 98.02
2019-09-30 2,947.63 1,116.83 88.94
2019-06-30 2,966.94 1,115.32 90.58
2019-03-31 2,988.41 1,144.01 87.72
2018-12-31 2,966.95 1,123.04 84.76
2018-09-30 2,963.07 1,117.11 81.44
2018-06-30 2,930.73 1,122.62 89.14
2018-03-31 2,873.18 1,065.86 86.52
2017-12-31 2,861.41 1,091.34 83.13
2017-09-30 2,769.24 1,058.48 79.48
2017-06-30 2,647.32 975.92 73.13
2017-03-31 2,538.51 972.59 74.86
2016-12-31 2,499.14 933.26 81.04
2016-09-30 2,478.42 936.14 86.27
2016-06-30 2,475.06 948.63 63.01
2016-03-31 2,474.79 968.78 83.14
2015-12-31 2,427.00 937.87 87.13
2015-09-30 2,404.60 892.95 84.06
2015-06-30 2,376.64 893.43 71.02
2015-03-31 2,357.83 824.09 88.57
2014-12-31 2,339.57 860.87 86.82
2014-09-30 2,368.86 872.14 106.40
2014-06-30 2,369.29 825.13 141.41
2014-03-31 2,375.03 877.16 100.77
2013-12-31 2,330.10 847.91 97.09
2013-09-30 2,249.65 814.30 76.71
2013-06-30 2,225.04 826.30 79.96

*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.
  • Anhui Expressway has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Anhui Expressway used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Anhui Expressway has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Anhui 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.
Anhui 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.

Health

 How is Anhui 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 Anhui Expressway's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anhui Expressway is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Anhui Expressway's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Anhui 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 covered by short term assets, assets are 1.2x 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 Anhui Expressway Company Filings, last reported 3 months ago.

DB:HU7 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 11,569.74 2,282.83 2,536.07
2019-09-30 11,367.07 2,749.52 2,538.87
2019-06-30 11,069.76 2,757.23 2,825.68
2019-03-31 10,871.23 3,012.31 2,652.84
2018-12-31 10,581.10 3,028.45 2,513.47
2018-09-30 10,381.10 2,973.89 2,473.65
2018-06-30 10,083.03 2,968.64 2,427.77
2018-03-31 10,307.67 2,983.91 2,131.12
2017-12-31 10,030.04 2,875.52 1,829.40
2017-09-30 9,775.64 2,826.34 1,954.13
2017-06-30 9,466.40 2,897.04 2,407.21
2017-03-31 9,731.77 2,820.01 2,156.10
2016-12-31 9,420.14 2,770.37 2,010.81
2016-09-30 9,186.88 2,728.88 1,678.09
2016-06-30 8,946.29 2,786.73 1,775.83
2016-03-31 9,184.09 2,876.76 1,681.95
2015-12-31 8,906.78 2,402.78 906.25
2015-09-30 8,680.10 2,203.69 664.54
2015-06-30 8,439.53 2,077.10 695.96
2015-03-31 8,702.10 2,029.85 608.83
2014-12-31 8,449.69 2,074.84 559.94
2014-09-30 8,168.53 3,623.17 1,625.40
2014-06-30 7,899.46 3,497.56 1,441.14
2014-03-31 8,156.66 3,525.54 1,190.66
2013-12-31 7,893.69 3,415.58 904.07
2013-09-30 7,703.46 3,172.60 831.79
2013-06-30 7,443.07 3,191.43 672.89
  • Anhui Expressway's level of debt (19.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (24.5% vs 19.7% today).
  • Debt is well covered by operating cash flow (79.8%, greater than 20% of total debt).
  • Anhui Expressway earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Anhui 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. Anhui Expressway has a total score of 6/6, 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 Anhui 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
7.15%
Current annual income from Anhui Expressway dividends. Estimated to be 5.75% next year.
If you bought €2,000 of Anhui Expressway shares you are expected to receive €143 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?
  • Anhui Expressway's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Anhui 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:HU7 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 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:HU7 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.24 2.00
2020-12-31 0.12 1.00
2020-03-31
DB:HU7 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.250 6.046
2018-05-18 0.230 5.555
2017-03-24 0.230 4.476
2016-03-29 0.230 4.281
2015-04-02 0.230 4.177
2014-07-07 0.220 5.525
2013-03-22 0.200 6.132
2012-08-24 0.210 6.529
2012-04-26 0.210 7.210
2011-05-03 0.210 5.269
2010-08-26 0.200 3.819
2010-04-19 0.200 4.874
2010-04-08 0.200 4.139

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Anhui Expressway's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x 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 Anhui 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 Anhui Expressway afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anhui Expressway has a total score of 6/6, 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 Anhui 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
Zhen Xu
COMPENSATION CN¥564,000
AGE 55
TENURE AS CEO 5 years
CEO Bio

Mr. Zhen Xu has been the Chief Executive Officer and General Manager of Anhui Expressway Company Limited since March 27, 2015 and as its Executive Director since May 20, 2016.

CEO Compensation
  • Zhen's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Zhen's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

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

4.3
Average Tenure
54
Average Age
  • The tenure for the Anhui Expressway management team is about average.
Management Team

Zhen Xu

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥564K
AGE
55
TENURE
5 yrs

Dafeng Chen

TITLE
Executive Director
AGE
56

Huimin Li

TITLE
Deputy General Manager
COMPENSATION
CN¥486K
AGE
55
TENURE
4.3 yrs

Jiping Chen

TITLE
Deputy General Manager
COMPENSATION
CN¥486K
AGE
48
TENURE
3.6 yrs

Xinyu Xie

TITLE
Deputy GM
COMPENSATION
CN¥486K
AGE
52
TENURE
17.6 yrs

Huihui Dong

TITLE
Secretary to the Board
COMPENSATION
CN¥453K
AGE
51
TENURE
3 yrs

Xiaolong Xiang

TITLE
Executive Chairman of the Board
AGE
54

Guangzhuo Xiao

TITLE
Manager of the Financial Department
Board of Directors Tenure

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

3.8
Average Tenure
50
Average Age
  • The tenure for the Anhui Expressway board of directors is about average.
Board of Directors

Dafeng Chen

TITLE
Executive Director
AGE
56
TENURE
5.6 yrs

Xinyu Xie

TITLE
Deputy GM
COMPENSATION
CN¥486K
AGE
52
TENURE
5.6 yrs

Xiaolong Xiang

TITLE
Executive Chairman of the Board
AGE
54

Jun Jiang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥80K
AGE
46
TENURE
3.4 yrs

Zhen Xu

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥564K
AGE
55
TENURE
3.8 yrs

Hao Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥80K
AGE
41
TENURE
2.6 yrs

Yuping Chen

TITLE
Chairman of Supervisory Board
AGE
56
TENURE
2.6 yrs

Yat Fan Kong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥120K
AGE
47
TENURE
5.6 yrs

Jian Du

TITLE
Non-Executive Director
AGE
48
TENURE
3.8 yrs

Xudong Yang

TITLE
Non-Executive Director
AGE
46
TENURE
2.6 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 (€)
X
Management checks
We assess Anhui 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. Anhui 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.

News

Simply Wall St News

Company Info

Description

Anhui Expressway Company Limited constructs, operates, manages, and develops toll roads and associated service sections in the Anhui Province, the People's Republic of China. The company owns interests in the Hening Expressway, New Tianchang Section of National Trunk 205, Gaojie Expressway, Xuanguang Expressway, Lianhuo Expressway Anhui Section, Guangci Expressway, Ninghuai Expressway Tianchang Section, and Ningxuanhang Expressway. It also provides pawn loan services. The company was founded in 1996 and is headquartered in Hefei, the People’s Republic of China.

Details
Name: Anhui Expressway Company Limited
HU7
Exchange: DB
Founded: 1996
HK$982,199,129
1,658,610,000
Website: http://www.anhui-expressway.net
Address: Anhui Expressway Company Limited
520 Wangjiang West Road,
Hefei,
Anhui Province, 230088,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 995 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 14. Nov 1996
OTCPK AUHE.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 14. Nov 1996
DB HU7 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 14. Nov 1996
SHSC 995 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 14. Nov 1996
SZSC 995 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 14. Nov 1996
SHSE 600012 Domestic Shares Shanghai Stock Exchange CN CNY 07. Jan 2003
XSSC 600012 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 07. Jan 2003
Number of employees
Current staff
Staff numbers
2,223
Anhui Expressway employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 21:09
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/29
Last earnings filing: 2020/03/29
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.