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Operator of toll expressways in Jiangsu province, earning toll revenue plus some property and advertising income.
Operator of toll expressways in Jiangsu province, earning toll revenue plus some property and advertising income.
Collects tolls on expressways, with the Shanghai-Nanjing road the core asset, under concessions granted by the Jiangsu provincial government, with toll rates set by government and revised only occasionally. It also has equity income from a stake in Bank of Jiangsu and from property development and service areas. The provincial state-owned Jiangsu Communications Holding is the controlling shareholder.
In one line: A Chinese toll-road operator.
Moat: wide (regulatory licence, installed base). Government-granted toll concessions on key Jiangsu expressways are essentially irreplaceable.
Headquarters: Nanjing, Jiangsu, China · Founded: 1992 · Employees: 4,463
Size Jiangsu Expressway (600377.SS) is a China Industrials company (Other Transportation) with a market value of $9.75B, the 257th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.88 on 6 Nov 2026.
Performance Over six months the shares gained 12.8%, against +1.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 2.6% over the last twelve months (peer median +9.1%); the operating margin is 25.4% (peer median 22.0%).
Valuation It trades at 14.5× forward earnings against a peer median of 16.5× (8th cheapest of 20).
Capital Return on invested capital runs 0.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥22.7B | CN¥20.3B | CN¥23.2B | CN¥15.2B | CN¥13.1B |
| Revenue growth | — | -13% | +53% | +16% | — |
| Gross profit | CN¥7.92B | CN¥5.99B | CN¥5.98B | CN¥5.50B | CN¥4.18B |
| EBITDA | n/a | CN¥7.90B | CN¥7.85B | CN¥7.43B | CN¥5.99B |
| Net income | CN¥4.61B | CN¥4.59B | CN¥4.95B | CN¥4.41B | CN¥3.72B |
| Free cash flow | -CN¥447M | -CN¥17.8M | -CN¥3.72B | CN¥4.37B | CN¥2.40B |
| Capital expenditure | CN¥8.34B | CN¥7.63B | CN¥10.8B | CN¥3.80B | CN¥4.04B |
| Total debt | CN¥38.1B | CN¥35.3B | CN¥36.1B | CN¥33.6B | CN¥36.0B |
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 |
|---|---|---|---|---|---|---|
| Jiangsu Expressway 600377.SS | $9.75B | +13% | +3% | 25% | 14.5× | n/a |
| Shandong Hi-speed 600350.SS | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% |
| 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% |
| Shenzhen Expressway 0548.HK | $2.91B | -12% | 0% | 17% | 9.3× | 0.0% |
| Guangdong Provincial Expressway Development 000429.SZ | $4.01B | +9% | +1% | 58% | 18.2× | 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 | 600377.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | +8.3% | 9th lowest of 21 |
| 6-month return | +12.8% | +1.5% | 4th highest of 21 |
| Distance from 52-week high | -2.8% | -18.2% | highest of 21 |
| Revenue growth (TTM) | +2.6% | +9.1% | 2nd lowest of 21 |
| Operating margin | 25.4% | 22.0% | 10th highest of 21 |
| Forward P/E | 14.5× | 16.5× | 8th cheapest of 20 |
| ROIC minus cost of capital | +0.9 pp | -0.2 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Expressway 600377.SS | China | $9.75B | +13% | +3% | 25% | 14.5× | n/a | n/a |
| Shanghai International Airport 600009.SS | China | $9.22B | -9% | +7% | 19% | 23.7× | -2.6% | +25.4% |
| China Merchants Port 001872.SZ | China | $9.20B | +14% | +8% | 32% | 12.9× | 2.1% | +6.2% |
| StandardAero SARO | United States | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% | +13.5% |
| China Merchants Expressway Network & Technology 001965.SZ | China | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% | +13.7% |
| Qingdao Port International 601298.SS | China | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% | +7.2% |
| GMR Airports GMRAIRPORT.NS | India | $11.1B | -2% | +29% | 27% | 296.2× | n/a | n/a |
| Shandong Hi-speed 600350.SS | China | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% | +13.0% |
| Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR ASR | United States | $7.95B | -15% | +26% | 41% | 12.2× | -2.3% | +27.0% |
| Flughafen Zurich FHZN.SW | Switzerland | $7.94B | -3% | +4% | 35% | 20.3× | 0.3% | +16.9% |
| Aeroports de Paris ADP.PA | France | $13.0B | +9% | +5% | 18% | 18.1× | 11.5% | +25.7% |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |
| Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR PAC | United States | $14.5B | +1% | +20% | 44% | 17.1× | 8.2% | +31.3% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Tokyo Metro 9023.T | Japan | $5.31B | -8% | +3% | 21% | 16.5× | 4.8% | +7.4% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Shanghai International Port (Group) 600018.SS | China | $19.7B | +14% | +9% | 23% | 8.6× | -3.6% | +9.0% |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |