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Regional highway, bridge and tunnel contractor for Sichuan province, with side investments in mining and new materials.
Regional highway, bridge and tunnel contractor for Sichuan province, with side investments in mining and new materials.
Moat: none
Headquarters: Chengdu, China · Employees: 15,360
Size Sichuan Road & Bridge (600039.SS) is a China Industrials company (Engineering & Construction) with a market value of $11.4B, the 220th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.83 on 6 Nov 2026.
Performance Over six months the shares gained 7.8%, against -17.6% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 7.8% over the last twelve months (peer median +2.8%); the operating margin is 10.0% (peer median 6.0%).
Valuation It trades at 9.7× forward earnings against a peer median of 12.3× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥117B | CN¥115B | CN¥107B | CN¥115B | CN¥135B |
| Revenue growth | — | +7% | -7% | -15% | — |
| Gross profit | CN¥18.5B | CN¥16.4B | CN¥16.6B | CN¥20.4B | CN¥22.4B |
| EBITDA | n/a | CN¥13.6B | CN¥13.5B | CN¥15.5B | CN¥17.3B |
| Net income | CN¥7.34B | CN¥7.30B | CN¥7.21B | CN¥9.00B | CN¥11.2B |
| Free cash flow | CN¥3.09B | CN¥6.62B | -CN¥4.03B | -CN¥9.83B | CN¥8.08B |
| Capital expenditure | CN¥864M | CN¥1.14B | CN¥7.56B | CN¥7.75B | CN¥5.33B |
| Total debt | CN¥78.6B | CN¥78.2B | CN¥72.8B | CN¥79.2B | CN¥64.2B |
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 |
|---|---|---|---|---|---|---|
| Sichuan Road & Bridge 600039.SS | $11.4B | +8% | +8% | 10% | 9.7× | -5.0% |
| China Railway Construction 601186.SS | $11.4B | -11% | -9% | 4% | 4.9× | n/a |
| China Communications Construction 601800.SS | $12.8B | -12% | -4% | 3% | 6.8× | n/a |
| China Railway 601390.SS | $15.1B | -13% | -7% | 4% | 6.0× | 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 | 600039.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.7% | -1.7% | 9th highest of 21 |
| 6-month return | +7.8% | -17.6% | 5th highest of 21 |
| Distance from 52-week high | -17.1% | -35.6% | 6th highest of 21 |
| Revenue growth (TTM) | +7.8% | +2.8% | 7th highest of 21 |
| Operating margin | 10.0% | 6.0% | 5th highest of 21 |
| Forward P/E | 9.7× | 12.3× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -5.0% | 7.3% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +12.3% | +10.0% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | -17.3 pp | -6.5 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +3.4 pp | +1.3 pp | 7th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sichuan Road & Bridge 600039.SS | China | $11.4B | +8% | +8% | 10% | 9.7× | -5.0% | +12.3% |
| China Railway Construction 601186.SS | China | $11.4B | -11% | -9% | 4% | 4.9× | n/a | n/a |
| Power Construction Corporation of China 601669.SS | China | $11.5B | -20% | -2% | 4% | 8.4× | n/a | n/a |
| Eiffage FGR.PA | France | $11.5B | -20% | +5% | 10% | 9.3× | -6.9% | +9.4% |
| Taisei 1801.T | Japan | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% | +7.1% |
| Skanska SKA-B.ST | Sweden | $12.1B | +16% | -6% | 4% | 17.1× | 8.3% | +2.0% |
| Kajima 1812.T | Japan | $12.5B | -27% | +4% | 8% | 10.8× | -1.9% | +10.0% |
| Tetra Tech TTEK | United States | $10.3B | +33% | -8% | 12% | 24.0× | 8.3% | +12.7% |
| China Communications Construction 1800.HK | Hong Kong | $12.8B | -26% | -5% | 4% | 3.1× | n/a | n/a |
| Atkinsrealis ATRL.TO | Canada | $9.94B | -7% | +15% | 7% | 19.9× | 11.4% | +9.6% |
| Acciona ANA.MC | Spain | $13.4B | -16% | +8% | 6% | 19.8× | 8.2% | +25.6% |
| China Energy Engineering 601868.SS | China | $13.6B | -18% | -5% | 4% | 17.9× | n/a | n/a |
| Saipem SPM.MI | Italy | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% | +16.1% |
| MasTec MTZ | United States | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% | +17.7% |
| SamsungE&A 028050.KS | South Korea | $8.73B | +14% | +19% | 11% | 13.6× | -2.1% | +6.1% |
| China Railway 0390.HK | Hong Kong | $15.0B | -19% | -4% | 4% | 3.6× | n/a | n/a |
| Aecom ACM | United States | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% | +4.0% |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |