Loading…
Toll-road operator that owns and operates expressways in Guangdong province, earning toll revenue.
Toll-road operator that owns and operates expressways in Guangdong province, earning toll revenue.
Collects tolls on expressways in Guangdong under government concessions, with rates set by the province, so revenue follows traffic and any change in toll policy. Guangdong Communication Group, the provincial transport state group, is the controlling shareholder.
In one line: A regional toll-road operator like a Chinese Transurban.
Moat: narrow (regulatory licence, installed base). Government-granted toll concessions on established expressway routes.
Headquarters: Guangzhou, Guangdong, China · Employees: 3,029
Size Guangdong Provincial Expressway Development (000429.SZ) is a China Industrials company (Engineering & Construction) with a market value of $4.01B, the 638th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.73 on 6 Nov 2026.
Performance Over six months the shares gained 9.1%, against -14.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 0.7% over the last twelve months (peer median +10.9%); the operating margin is 58.3% (peer median 8.3%).
Valuation It trades at 18.2× forward earnings against a peer median of 19.3× (11th cheapest of 21).
Capital Return on invested capital runs 5.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.46B | CN¥4.45B | CN¥4.55B | CN¥4.86B | CN¥4.15B |
| Revenue growth | — | -2% | -6% | +17% | — |
| Gross profit | CN¥3.60B | CN¥2.86B | CN¥2.91B | CN¥3.11B | CN¥2.56B |
| EBITDA | n/a | CN¥3.98B | CN¥3.66B | CN¥3.96B | CN¥3.31B |
| Net income | CN¥1.56B | CN¥1.80B | CN¥1.56B | CN¥1.63B | CN¥1.28B |
| Free cash flow | -CN¥435M | CN¥1.30B | CN¥1.38B | CN¥2.43B | CN¥2.05B |
| Capital expenditure | CN¥3.83B | CN¥2.43B | CN¥2.04B | CN¥1.54B | CN¥875M |
| Total debt | CN¥11.9B | CN¥10.6B | CN¥7.75B | CN¥7.70B | CN¥7.54B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Guangdong Provincial Expressway Development 000429.SZ | $4.01B | +9% | +1% | 58% | 18.2× | n/a |
| Shenzhen Expressway 600548.SS | $2.99B | -4% | -5% | 17% | 14.4× | 0.6% |
| Jiangsu Expressway 600377.SS | $9.75B | +13% | +3% | 25% | 14.5× | n/a |
| Yuexiu Transport Infrastructure 1052.HK | $699M | -19% | +9% | 36% | 6.2× | 0.1% |
| Zhejiang Expressway 0576.HK | $4.86B | -13% | +18% | 33% | 5.9× | n/a |
| Anhui Expressway 0995.HK | $4.18B | -3% | -17% | 45% | 10.5× | -5.8% |
| China Merchants Expressway Network & Technology 001965.SZ | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% |
| Sichuan Expressway 0107.HK | $2.84B | -11% | +8% | 26% | 8.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000429.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | -5.9% | 6th highest of 21 |
| 6-month return | +9.1% | -14.1% | 5th highest of 21 |
| Distance from 52-week high | -10.3% | -41.0% | 4th highest of 21 |
| Revenue growth (TTM) | +0.7% | +10.9% | 6th lowest of 21 |
| Operating margin | 58.3% | 8.3% | highest of 21 |
| Forward P/E | 18.2× | 19.3× | 11th cheapest of 21 |
| ROIC minus cost of capital | +5.7 pp | +2.4 pp | 7th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |