Sichuan Road & Bridge Group Co Ltd (600039) Fair Value & Analysis
Industrials · CN · Market cap 74.9B CNY (≈ $11.2B) · ISIN CNE000001DQ4
What is Sichuan Road & Bridge Group Co Ltd really worth?
Below-average quality, trading 47% below our fair value of ¥17.14.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 26 valuation models · updated today
Share price +6.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (¥8.61 to ¥22.03) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range ¥3.64 – ¥10.58 · fair‑value band ¥8.61 – ¥22.03 · the ¥9.16 price screens below the ¥17.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Sichuan Road & Bridge Group Co Ltd (600039) currently trades at ¥9.16, while our model-based Fair Value estimate is ¥17.14, implying the stock looks roughly 46.6% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ¥24.20 per share, and 22 of the 26 models we run sit above the ¥9.16 price. Bear case: the Asset-Based group reads lowest at ¥4.07, and 4 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Sichuan Road & Bridge Group Co Ltd generated revenue of 114B CNY at a net margin of 6.2%. Revenue declined 4.1% year over year. It earns a return on equity of 13.1%. Net debt stands at 39.7B CNY. Fundamentals as of Sep 5, 2026
Our scenario range runs from ¥8.61 (bear case) to ¥22.03 (bull case); at ¥9.16, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 87%, 600039 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.2084 per share, which is 1.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings (¥24.20) versus Asset-Based (¥4.07). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Sichuan Road & Bridge Group Co.,Ltd engages in the investment, development, construction, and operation of engineering construction, clean energy, and mining and new materials in China and internationally.
Full company description
Sichuan Road & Bridge Group Co.,Ltd engages in the investment, development, construction, and operation of engineering construction, clean energy, and mining and new materials in China and internationally. The company is involved project investment and asset management; highway management; highway, bridge, tunnel, building construction, municipal public works, highway traffic, earthwork, power, electromechanical installation, foundation, and building decoration engineering; ready-mixed concrete and precast concrete components; engineering survey and design; surveying services; planning management; engineering management services; construction machinery leasing and repair; building materials production; and wholesale and retail of goods. It also engages in the clean energy and new materials businesses, including hydropower and photovoltaic power generation; power transmission and distribution; new materials technology research and development; mineral processing; geological exploration of metallic and non-metallic mineral resources; sale of metallic ores, non-metallic minerals, non-ferrous metal alloys, and batteries; recycling and cascade utilization of waste power batteries from new energy vehicles; energy storage technology services; emerging energy technology research and development; and sale of chemical products. The company was founded in 1999 and is headquartered in Chengdu, China. Sichuan Road & Bridge Group Co.,Ltd operates as a subsidiary of Sichuan Railway Investment Group Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Sichuan Road & Bridge Group Co Ltd reported revenue of 115B CNY in FY2025 versus 103B CNY in FY2021, a compound +2.9%/yr. Reported net income was 7.3B CNY in FY2025, compounding +2.1%/yr from FY2021.
of which total revenue +17.3 % · buybacks/dilution −8.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Engineering & Construction · 816 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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