Yuexiu Transport Infrastructure Limited (1052.HK)

Industry: Industrial - Infrastructure Operations Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
0576.HK	12	Zhejiang Expresswa	2,609	7.04	5.72	10.83	9.04	18.74	32.23
4666.T	13	PARK24 Co., Ltd.	2,495	23.66	18.38	6.45	6.02	16.96	9.07
ECOR3.SA	14	EcoRodovias Infrae	1,980	5.90	4.67	6.06	4.91	5.68	9.01
001965.SZ	15	China Merchants Ex	1,751	12.80	10.85	21.26	19.14	37.33	19.96
1576.HK	16	Qilu Expressway Co	1,709	4.31	4.31	7.45	7.45	10.28	11.73
ALEATIC.MX	17	Aleatica, S.A.B. d	1,524	10.05	10.12	16.91	16.38	9.54	20.05
600548.SS	18	Shenzhen Expresswa	1,339	20.34	19.74	14.80	14.02	23.47	29.04
1052.HK	19	Yuexiu Transport I	1,308	4.17	4.08	3.22	2.72	6.05	5.60
601107.SS	20	Sichuan Expressway	1,290	10.39	7.02	14.80	13.09	18.61	17.68
000900.SZ	21	Xiandai Investment	1,223	16.81	17.91	19.03	19.57	31.69	44.69
002941.SZ	22	Xinjiang Communica	1,201	19.07	15.54	17.34	14.50	14.13	15.53
6379.T	23	RAIZNEXT Corporati	1,102	9.68	8.94	6.54	6.07	4.02	6.76
600012.SS	24	Anhui Expressway C	1,055	11.48	9.47	9.00	7.86	10.02	9.66
600020.SS	25	Henan Zhongyuan Ex	1,015	9.33	7.10	17.80	18.26	20.98	23.29
600269.SS	26	Jiangxi Ganyue Exp	826	6.45	4.20	5.34	4.78	8.86	5.17
IRB.BO	27	IRB Infrastructure	768	3.83	2.01	14.89	14.24	31.80	15.93

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	9.68	7.10	10.83	9.04	14.13	15.53
Full Range Median Multiple	10.05	8.94	14.80	13.09	16.96	15.93
Industry Multiple	11.41	9.73	12.57	11.69	17.47	17.99
Market Implied Multiple	5.63	5.52	3.53	2.98	6.63	6.14
Company (1052.HK) Multiple	4.17	4.08	3.22	2.72	6.05	5.60
(*) Net Income / EBITDA / Revenue	174	178	822	972	437	472
Winsorized Enterprise Value	N/A	N/A	8,898	8,790	6,182	7,328
Full Range Median Enterprise Value	N/A	N/A	12,162	12,726	7,415	7,516
(-) Net Debt	1,918	1,918	1,918	1,918	1,918	1,918
Winsorized Equity Value	1,687	1,262	6,979	6,872	4,263	5,410
Full Range Median Equity Value	1,751	1,588	10,244	10,808	5,497	5,597
(/) Shares Outstanding	215	215	215	215	215	215
Winsorized Fair Value	$7.84	$5.87	$32.45	$31.95	$19.82	$25.15
Full Range Median Fair Value	$8.14	$7.39	$47.63	$50.25	$25.56	$26.03
Current Price	$4.56	$4.56	$4.56	$4.56	$4.56	$4.56
Upside / Downside	72.04%	28.71%	611.64%	600.72%	334.72%	451.64%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$5.49	$4.11	$22.72	$22.37	$13.88	$17.61
Buy / Don't Buy	BUY	Don’t Buy	BUY	BUY	BUY	BUY