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Shenzhen ExpresswaySHZNF 72 Graham Number is $0.55 as of Mar. 2026, which is 79% below its 10-year median of 2.65. GuruFocus rates SHZNF with a GF Score™ of 72/100 and a GF Value™ of $1.09. The stock has 7 warning signs investors should review. Among 1,216 Construction companies, Shenzhen Expressway ranks worse than 78.62% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-16), the stock price of Shenzhen Expressway is $0.94975. Shenzhen Expressway's graham number for the quarter that ended in Mar. 2026 was $0.55. Therefore, Shenzhen Expressway's Price to Graham Number ratio for today is 1.73.
The historical rank and industry rank for Shenzhen Expressway's Graham Number or its related term are showing as below:
SHZNF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.21 Med: 2.65 Max: 3.28
Current: 2.21
During the past 13 years, the highest Price to Graham Number ratio of Shenzhen Expressway was 3.28. The lowest was 2.21. And the median was 2.65.
SHZNF's Price-to-Graham-Number is ranked worse than 78.62% of 1216
companies
in the Construction industry
Industry Median: 1.02
vs SHZNF: 2.21
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Shenzhen Expressway (OTCPK:SHZNF) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Shenzhen Expressway's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
0.94975
/
0.55
=
1.73
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Shenzhen Expressway Graham Number Related Terms
Shenzhen Expressway Graham Number Historical Data
* Premium members only.
The historical data trend for Shenzhen Expressway's Graham Number 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.
Shenzhen Expressway Graham Number Competitor Comparison
For the Infrastructure Operations subindustry, Shenzhen Expressway's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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.
Shenzhen Expressway Price-to-Graham-Number vs Construction Industry
For the Construction industry and Industrials sector, Shenzhen Expressway's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Shenzhen Expressway's Price-to-Graham-Number falls into.
* 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.
Shenzhen Expressway (SHZNF) has a Graham Number of $0.55 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Shenzhen Expressway and its competitors. This is 79% below median its historical median of 2.65. Over the past decade, Shenzhen Expressway's Graham Number has ranged from 2.21 to 3.28. According to the industry distribution chart, Shenzhen Expressway ranks #956 out of 1216 companies in the Construction industry, placing it in the top 78.6%.
Is Shenzhen Expressway's Graham Number too high?
Shenzhen Expressway's current Graham Number of $0.55 is 79% below median its 10-year median of 2.65. Over the past 10 years, this metric has ranged from a low of 2.21 to a high of 3.28. The Construction industry median Graham Number is 1.02. Shenzhen Expressway's value of $0.55 is 46.1% below this industry median. Based on the distribution chart, Shenzhen Expressway ranks #956 out of 1216 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Shenzhen Expressway has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Shenzhen Expressway's Graham Number compare to competitors?
According to the Construction industry distribution chart, Shenzhen Expressway ranks #956 out of 1216 companies for Graham Number. This places Shenzhen Expressway in the lower half of its industry. The industry median Graham Number is 1.02. Shenzhen Expressway's value of $0.55 is 46.1% below this benchmark. Historically, Shenzhen Expressway's own Graham Number has ranged from 2.21 to 3.28 over the past decade. While the company's 10-year median is 2.65 vs. the industry median of 1.02, Shenzhen Expressway has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Construction company?
The median Graham Number among Construction companies is 1.02, based on 1,216 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Shenzhen Expressway's current Graham Number of $0.55 is 46.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Shenzhen Expressway and its competitors. For the Construction industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shenzhen Expressway's current Graham Number is $0.55, which is 79% below median its own 10-year median of 2.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shenzhen Expressway stock overvalued right now?
Shenzhen Expressway (SHZNF) has a current Graham Number of $0.55. The stock's GF Value™ is $1.09, compared to a current price of $0.95 — trading 12.9% below its estimated fair value. The current Graham Number is $0.55, which is 79% below median its 10-year median of 2.65 and 46.1% below the Construction industry median of 1.02. Shenzhen Expressway's overall GF Score™ is 72/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Shenzhen Expressway (SHZNF), the current Graham Number is $0.55 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 Shenzhen Expressway (SHZNF) Overvalued in 2026?
Based on GuruFocus' analysis, Shenzhen Expressway stock appears to be undervalued.
The current stock price of $0.95 is trading 12.9% below its estimated GF Value™ of $1.09.
Key valuation signals for SHZNF:
Graham Number: $0.55 (79% below median its 10-year median of 2.65)
GF Value™: $1.09 vs. price of $0.95 (12.9% below fair value)
Industry Position: 46.1% below the Construction median (#956 of 1216)
No single metric tells the full story. See the SHZNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shenzhen Expressway Corp Ltd is engaged in the construction, operation, management, and investment of toll highways and environmental protection in China. The Group has identified two reporting segments, namely the toll road segment and the environmental protection segment. The toll road segment takes charge of the operation and management of toll roads in Mainland China. The environmental protection segment operates and manages environmentally related infrastructure, mainly including solid waste treatment, clean energy, and other related fields. The majority of its revenue is derived from the toll road segment.
72GF Score
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