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Operator of toll expressways in Fujian province.
Operator of toll expressways in Fujian province.
Earns toll fees from motorists, with rates set by the provincial government and concessions lasting a fixed number of years, so growth comes from traffic rather than pricing.
Moat: narrow (regulatory licence). Regional concession-based toll-road monopoly in Fujian.
Headquarters: Fuzhou, Fujian, China · Employees: 1,235
Size Fujian Expressway Development (600033.SS) is a China Industrials company (Other Transportation) with a market value of $1.51B, the 1629th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.66 on 6 Nov 2026.
Performance Over six months the shares gained 0.6%, against -3.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 2.7% over the last twelve months (peer median +4.5%); the operating margin is 47.1% (peer median 16.9%).
Valuation It trades at 4.0× enterprise value to sales against a peer median of 3.5× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -16% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.8 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.97B | CN¥3.04B | CN¥3.01B | CN¥3.04B | CN¥2.66B |
| Revenue growth | — | +1% | -1% | +14% | — |
| Gross profit | CN¥2.29B | CN¥1.68B | CN¥1.69B | CN¥1.68B | CN¥1.49B |
| EBITDA | n/a | CN¥2.53B | CN¥2.54B | CN¥2.53B | CN¥2.21B |
| Net income | CN¥874M | CN¥948M | CN¥781M | CN¥902M | CN¥840M |
| Free cash flow | CN¥1.90B | CN¥2.13B | CN¥1.54B | CN¥1.46B | CN¥1.53B |
| Capital expenditure | CN¥395M | CN¥700M | CN¥597M | CN¥709M | CN¥328M |
| Total debt | CN¥829M | CN¥820M | CN¥1.44B | CN¥1.45B | CN¥1.92B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Fujian Expressway Development 600033.SS | $1.51B | +1% | -3% | 47% | 4.0× | -16.1% |
| Anhui Expressway 600012.SS | $4.29B | +13% | -14% | 42% | 6.5× | -5.4% |
| Sichuan Expressway 601107.SS | $2.89B | +16% | +7% | 27% | 6.5× | 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 | 600033.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | +0.1% | 8th lowest of 21 |
| 6-month return | +0.6% | -3.2% | 6th highest of 21 |
| Distance from 52-week high | -26.9% | -15.4% | 6th lowest of 21 |
| Revenue growth (TTM) | -2.7% | +4.5% | 8th lowest of 21 |
| Operating margin | 47.1% | 16.9% | 2nd highest of 21 |
| EV / Sales | 4.0× | 3.5× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -16.1% | -0.8% | least demanding of 15 |
| Growth delivered (Del g) | +5.6% | +4.9% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | -21.6 pp | -10.9 pp | 2nd least demanding of 15 |
| ROIC minus cost of capital | +4.8 pp | -0.6 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fujian Expressway Development 600033.SS | China | $1.51B | +1% | -3% | 47% | 4.0× | -16.1% | +5.6% |
| Shenzhen International 0152.HK | Hong Kong | $1.49B | -35% | +15% | 11% | 5.8× | n/a | n/a |
| Shreeji Shipping Global SHREEJISPG.NS | India | $1.53B | +111% | +21% | 24% | 19.1× | n/a | n/a |
| Sotetsu 9003.T | Japan | $1.55B | -4% | +9% | 13% | 2.1× | n/a | n/a |
| Dongguan Development (Holdings) 000828.SZ | China | $1.57B | -3% | -4% | 39% | 8.3× | 0.7% | +4.4% |
| Henan Zhongyuan Expressway 600020.SS | China | $1.43B | +5% | -11% | 20% | 7.3× | 5.9% | +5.4% |
| FirstGroup FGP.L | United Kingdom | $1.60B | +40% | -6% | 5% | 0.4× | -7.6% | +1.9% |
| Nishi-Nippon Railroad 9031.T | Japan | $1.37B | 0% | +10% | 7% | 1.1× | n/a | n/a |
| Evergreen Aviation Technologies 2645.TW | Taiwan | $1.67B | -8% | +10% | 17% | 3.0× | -1.0% | +11.2% |
| Hamburger Hafen und Logistik HHFA.DE | Germany | $1.72B | -2% | +3% | 7% | 1.6× | n/a | n/a |
| Xizang Tianlu 600326.SS | China | $1.24B | -35% | -8% | 0% | 3.5× | 24.9% | -13.0% |
| Hainan Strait Shipping 002320.SZ | China | $1.88B | -34% | +4% | 23% | 3.0× | -0.5% | +36.7% |
| Tianjin Port 600717.SS | China | $1.89B | -2% | -8% | 18% | 1.5× | -14.6% | -1.6% |
| Westshore Terminals Investment WTE.TO | Canada | $1.90B | +16% | -16% | 33% | 9.0× | 11.9% | -2.6% |
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 3.8× | -10.5% | +1.7% |
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 2.8× | n/a | n/a |
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 3.5× | -6.4% | +11.4% |
| StorageVault Canada SVI.TO | Canada | $1.09B | -4% | +9% | 23% | 10.8× | 21.9% | +16.6% |
| Shanxi Hi-speed 000755.SZ | China | $1.07B | -3% | +3% | 47% | 7.3× | -7.2% | +8.4% |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 0.8× | -8.2% | +9.3% |
| Dazhong Transportation (Group) 600611.SS | China | $1.02B | -12% | -12% | -9% | 4.5× | 5.8% | -3.3% |