Henan Zhongyuan Expressway Co (SHSE:600020) EBIT: ¥1,914 Mil (TTM As of Mar. 2026)


SHSE:600020 Henan Zhongyuan Expressway Co Ltd SHSE:600020
55 GF Score
Price ¥3.74
GF Value ¥4.72
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Henan Zhongyuan Expressway Co EBIT?

Henan Zhongyuan Expressway Co SHSE:600020 -0.80% 55 EBIT is ¥1,914 Mil as of Mar. 2026. GuruFocus rates SHSE:600020 with a GF Score™ of 55/100 and a GF Value™ of ¥4.72 (Modestly Undervalued). The stock has 6 warning signs investors should review.

Henan Zhongyuan Expressway Co's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ¥648 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ¥1,914 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Henan Zhongyuan Expressway Co's annualized ROC % for the quarter that ended in Mar. 2026 was 3.84%. Henan Zhongyuan Expressway Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.05%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Henan Zhongyuan Expressway Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.59%.


Henan Zhongyuan Expressway Co  (SHSE:600020) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Henan Zhongyuan Expressway Co's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2613.672 * ( 1 - 23.39% )/( (51854.125 + 52325.127)/ 2 )
=2002.3341192/52089.626
=3.84 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=53545.898 - 1214.318 - ( 477.455 - max(0, 4781.603 - 6301.368+477.455))
=51854.125

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=53770.177 - 887.093 - ( 557.957 - max(0, 4195.694 - 6547.105+557.957))
=52325.127

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Henan Zhongyuan Expressway Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2591.788/( ( (10071.209 + max(4250.134, 0)) + (9972.758 + max(4431.58, 0)) )/ 2 )
=2591.788/( ( 14321.343 + 14404.338 )/ 2 )
=2591.788/14362.8405
=18.05 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1846.94 + 3870.334 + 90.690000000001) - (1214.318 + 0 + 343.512)
=4250.134

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1973.042 + 3905.502 + 93.754999999999) - (887.093 + 0 + 653.626)
=4431.58

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Henan Zhongyuan Expressway Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1914.36/41741.989
=4.59 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Henan Zhongyuan Expressway Co EBIT Related Terms


Henan Zhongyuan Expressway Co EBIT Historical Data

* Premium members only.

The historical data trend for Henan Zhongyuan Expressway Co's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Henan Zhongyuan Expressway Co EBIT Chart

Henan Zhongyuan Expressway Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,301.55 1,398.89 2,190.87 2,103.20 1,910.51

Henan Zhongyuan Expressway Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 644.10 574.92 581.48 110.02 647.95

Henan Zhongyuan Expressway Co EBIT Competitor Comparison

For the Infrastructure Operations subindustry, Henan Zhongyuan Expressway Co's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Henan Zhongyuan Expressway Co EV-to-EBIT vs Construction Industry

For the Construction industry and Industrials sector, Henan Zhongyuan Expressway Co's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Henan Zhongyuan Expressway Co's EV-to-EBIT falls into.


SHSE:600020
55GF Score
Henan Zhongyuan Expressway Co Ltd SHSE:600020
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Henan Zhongyuan Expressway Co EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥1,914 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ¥1,914 Mil mean?
Henan Zhongyuan Expressway Co (SHSE:600020) has a EBIT of ¥1,914 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Henan Zhongyuan Expressway Co.
Is Henan Zhongyuan Expressway Co's EBIT too high?
Henan Zhongyuan Expressway Co's current EBIT is ¥1,914 Mil. Overall, Henan Zhongyuan Expressway Co has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Henan Zhongyuan Expressway Co's EBIT compare to competitors?
Henan Zhongyuan Expressway Co's EBIT of ¥1,914 Mil can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Construction company?
A good EBIT depends on the Construction industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Henan Zhongyuan Expressway Co. Henan Zhongyuan Expressway Co's current EBIT is ¥1,914 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Henan Zhongyuan Expressway Co stock overvalued right now?
Based on GuruFocus' analysis, Henan Zhongyuan Expressway Co (SHSE:600020) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥4.72, compared to a current price of ¥3.74 — trading 20.8% below its estimated fair value. The current EBIT is ¥1,914 Mil. Henan Zhongyuan Expressway Co's overall GF Score™ is 55/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Henan Zhongyuan Expressway Co (SHSE:600020), the current EBIT is ¥1,914 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Henan Zhongyuan Expressway Co (SHSE:600020) Overvalued in 2026?

Based on GuruFocus' analysis, Henan Zhongyuan Expressway Co stock appears to be undervalued. The current stock price of ¥3.74 is trading 20.8% below its estimated GF Value™ of ¥4.72. GuruFocus considers Henan Zhongyuan Expressway Co to be Modestly Undervalued.

Key valuation signals for SHSE:600020:

  • EBIT: ¥1,914 Mil
  • GF Value™: ¥4.72 vs. price of ¥3.74 (20.8% below fair value)
  • GF Score™: 55/100 with 6 warning signs

No single metric tells the full story. See the SHSE:600020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Henan Zhongyuan Expressway Co Business Description

Address No. 93 Zhongyuan Road, Zhengzhou, Henan, CHN, 450052
Henan Zhongyuan Expressway Co Ltd engages in investment, operation, management, and maintenance of high-grade highways, independent bridges, and other transportation infrastructure projects. It operates Zhengxi, Zhumadian, Zhengzhou, Pingdingshan, Zhengxin yellow river bridge, Zhengkai, Shangqiu, and Jixian County projects. The company also engages in the highway construction, management, investment, and financing systems.
55GF Score

Get the complete analysis for SHSE:600020

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥3.74
Price
¥4.72
GF Value