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STOCK COMPARISON

Merchant Express Class A vs Cube Highways Trust: Fair Value & Quality

Both stocks run through our valuation models. Here is how Merchant Express Class A (001965) and Cube Highways Trust (CUBEINVIT) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Merchant Express Class A as the more attractively valued of the two: Merchant Express Class A trades at ¥9.80 versus a fair value of ¥10.25 (+5%), while Cube Highways Trust trades at ₹157 versus ₹33.83 (-78%).
Merchant Express Class A
001965.SHE · CNY · Industrials
+5%
upside to fair value
fairly valued
Price¥9.80
Fair Value¥10.25
Quality59/100
Cube Highways Trust
CUBEINVIT.BSE · INR · Industrials
-78%
upside to fair value
overvalued
Price₹157
Fair Value₹33.83
Quality45/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Merchant Express Class ACube Highways Trust
Valuation
15.0×P/E (TTM)97.7×
4.77×P/S (TTM)
0.91×P/B
16.3×EV/EBITDA
+4.6%Fair value upside−78.5%
3.8%Dividend yield9.2%
¥0.37Dividend per share
Profitability
20%Operating margin0%
0.56×EBIT margin trend (5Y)1.03×
6%Return on equity
1%Return on assets0%
Growth
27%Revenue growth (YoY)0%
17.2%Avg. growth/yr (3Y)
13.6%Avg. growth/yr (5Y)19.8%
+3.1%Value creation/yr
Balance & size
1.9×Interest coverage (EBIT/interest)0.9×
0.65×Debt / equity1.75×
$10BMarket cap$2B
healthyGrowth qualitymixed

Merchant Express Class A leads: 7 to 3 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Merchant Express Class Aof which business quality 57 · market factors 52 Cube Highways Trustof which business quality 45 · market factors 79
ProfitabilityMargins and returns on capital today
34
19
Quality GrowthAre margins and returns improving?
48
73
CashflowEarnings quality: real cash, not paper profit
85
90
Fin. StrengthBalance sheet, leverage, solvency risk
33
13
InvestmentDisciplined investing over empire-building
55
0
Low VolatilityCalm price path (market factor)
91
100
MomentumPrice trend over the last 3–12 months (market factor)
38
61
52W MomentumDistance to the 52-week high (market factor)
30
84
Net IssuanceBuybacks instead of dilution
94
71

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyMerchant Express Class APrice ¥9.80Cube Highways TrustPrice ₹157
DCF Models+33%above the price¥12.99-8%close to the price₹145
Earnings-Based+5%close to the price¥10.25-86%below the price₹21.39
Dividend Discount+19%above the price¥11.63+21%above the price₹191
Multiples-23%below the price¥7.50-79%below the price₹33.55
Asset-Based-25%below the price¥7.32-69%below the price₹48.77
Growth DCF-8%close to the price¥8.98+21%above the price₹190
Economic Profit-7%close to the price¥9.16-67%below the price₹51.39
Growth Earnings+57%above the price¥15.42-83%below the price₹26.11
Minimum-25%below the price¥7.32-86%below the price₹21.39
Maximum+57%above the price¥15.42+21%above the price₹191
Median-1%close to the price¥9.71-68%below the price₹50.08
Geometric mean+3%close to the price¥10.09-60%below the price₹62.98

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Merchant Express Class A: 8 of 23 models see the stock below the current price.

Cube Highways Trust: 13 of 17 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Merchant Express Class A
Bear ¥4.24Fair Value ¥10.25Bull ¥13.33
¥9.80 = current price (white tick)
Cube Highways Trust
Bear ₹25.38Fair Value ₹33.83Bull ₹42.06
₹157 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Merchant Express Class A · Industrials

Quality score59 · above median
Fair value upside+5% · above median

Cube Highways Trust · Industrials

Quality score45 · below median
Fair value upside-78% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Merchant Express Class A as the more attractively valued of the two: Merchant Express Class A trades at ¥9.80 versus a fair value of ¥10.25 (+5%), while Cube Highways Trust trades at ₹157 versus ₹33.83 (-78%).

Merchant Express Class A has the higher quality score (59/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.