Zhejiang Expressway Co. Ltd (ZHJ) - Net Assets

Latest as of December 2025: €93.05 Billion EUR ≈ $108.78 Billion USD

Based on the latest financial reports, Zhejiang Expressway Co. Ltd (ZHJ) has net assets worth €93.05 Billion EUR (≈ $108.78 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€293.41 Billion ≈ $343.03 Billion USD) and total liabilities (€200.36 Billion ≈ $234.25 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Zhejiang Expressway Co. Ltd tangible equity quality to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€93.05 Billion
% of Total Assets	31.71%
Annual Growth Rate	13.83%
5-Year Change	109.46%
10-Year Change	284.88%
Growth Volatility	7.59

Zhejiang Expressway Co. Ltd - Net Assets Trend (2013–2025)

This chart illustrates how Zhejiang Expressway Co. Ltd's net assets have evolved over time, based on quarterly financial data. See Zhejiang Expressway Co. Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Zhejiang Expressway Co. Ltd (2013–2025)

The table below shows the annual net assets of Zhejiang Expressway Co. Ltd from 2013 to 2025. For live valuation and market cap data, see Zhejiang Expressway Co. Ltd stock valuation.

Year	Net Assets	Change
2025-12-31	€93.05 Billion ≈ $108.78 Billion	+26.26%
2024-12-31	€73.70 Billion ≈ $86.16 Billion	+22.01%
2023-12-31	€60.41 Billion ≈ $70.62 Billion	+20.31%
2022-12-31	€50.21 Billion ≈ $58.70 Billion	+13.03%
2021-12-31	€44.42 Billion ≈ $51.94 Billion	+18.61%
2020-12-31	€37.45 Billion ≈ $43.79 Billion	+17.10%
2019-12-31	€31.98 Billion ≈ $37.39 Billion	+0.88%
2018-12-31	€31.70 Billion ≈ $37.07 Billion	+8.56%
2017-12-31	€29.20 Billion ≈ $34.14 Billion	+20.80%
2016-12-31	€24.18 Billion ≈ $28.26 Billion	+9.90%
2015-12-31	€22.00 Billion ≈ $25.72 Billion	+4.12%
2014-12-31	€21.13 Billion ≈ $24.70 Billion	+7.42%
2013-12-31	€19.67 Billion ≈ $23.00 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Zhejiang Expressway Co. Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 75.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€13.76 Billion	27.31%
Other Components	€36.62 Billion	72.69%
Total Equity	€50.38 Billion	100.00%

Zhejiang Expressway Co. Ltd Competitors by Market Cap

The table below lists competitors of Zhejiang Expressway Co. Ltd ranked by their market capitalization.

Company	Market Cap
Monarch Casino & Resort Inc NASDAQ:MCRI	$1.70 Billion
SEPLAT ENERGY (DI) NA-50 F:134	$1.70 Billion
Prosperity Dielectrics Co Ltd TWO:6173	$1.70 Billion
Fuda Alloy Materials Co Ltd SHG:603045	$1.70 Billion
Sonida Senior Living Inc NYSE:SNDA	$1.70 Billion
Shenzhen Agricultural Products Co Ltd SHE:000061	$1.70 Billion
Jiangsu Evergreen New Material Technology Inc. Co. A SHG:603125	$1.70 Billion
Shiny Chemical Industrial Co Ltd TW:1773	$1.70 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Zhejiang Expressway Co. Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 46,040,953,000 to 50,380,273,000, a change of 4,339,320,000 (9.4%).
Net income of 5,324,958,000 contributed positively to equity growth.
Dividend payments of 2,304,352,000 reduced retained earnings.
Other factors increased equity by 1,318,714,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€5.32 Billion	+10.57%
Dividends Paid	€2.30 Billion	-4.57%
Other Changes	€1.32 Billion	+2.62%
Total Change	€-	9.42%

Book Value vs Market Value Analysis

This analysis compares Zhejiang Expressway Co. Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.09x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	€4.76	€0.72	x
2018-12-31	€5.26	€0.72	x
2019-12-31	€4.97	€0.72	x
2020-12-31	€5.55	€0.72	x
2021-12-31	€6.25	€0.72	x
2022-12-31	€7.12	€0.72	x
2023-12-31	€6.64	€0.72	x
2024-12-31	€7.68	€0.72	x
2025-12-31	€8.34	€0.72	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Zhejiang Expressway Co. Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 10.57%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 26.95%
• Asset Turnover: 0.07x
• Equity Multiplier: 5.82x
Recent ROE (10.57%) is below the historical average (14.67%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	11.94%	24.30%	0.24x	2.01x	€310.22 Million
2014	13.32%	23.94%	0.17x	3.23x	€564.90 Million
2015	17.86%	27.88%	0.15x	4.41x	€1.32 Billion
2016	16.58%	31.20%	0.13x	4.03x	€1.21 Billion
2017	15.50%	33.26%	0.13x	3.57x	€1.14 Billion
2018	15.24%	36.38%	0.12x	3.48x	€1.20 Billion
2019	17.19%	31.04%	0.11x	4.84x	€1.55 Billion
2020	12.43%	25.10%	0.09x	5.39x	€585.70 Million
2021	17.54%	29.28%	0.09x	6.49x	€2.05 Billion
2022	17.40%	36.10%	0.08x	6.03x	€2.29 Billion
2023	13.13%	30.79%	0.08x	5.22x	€1.24 Billion
2024	11.95%	30.45%	0.08x	4.72x	€897.49 Million
2025	10.57%	26.95%	0.07x	5.82x	€286.93 Million

Industry Comparison

This section compares Zhejiang Expressway Co. Ltd's net assets metrics with peer companies in the Infrastructure Operations industry.

Industry Context

Industry: Infrastructure Operations
Average net assets among peers: $25,743,870,465
Average return on equity (ROE) among peers: 7.16%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Zhejiang Expressway Co. Ltd (ZHJ)	€93.05 Billion	11.94%	2.15x	$1.70 Billion
PARK24 SPONS. ADR/1 (3WN)	$40.04 Billion	6.18%	6.68x	$1.95 Billion
Sichuan Expressway Company Limited (EXF1)	$18.72 Billion	3.33%	1.15x	$528.60 Million
Anhui Expressway Company Limited (HU7)	$8.91 Billion	10.53%	0.36x	$1.16 Billion
Jiangsu Expressway Company Limited (JE2)	$33.05 Billion	7.46%	0.85x	$1.53 Billion
Shenzhen Expressway Company Limited (SHZH)	$28.00 Billion	8.31%	1.41x	$616.10 Million

About Zhejiang Expressway Co. Ltd

F:ZHJ Germany Infrastructure Operations

Market Cap

$1.70 Billion

€1.46 Billion EUR

Market Cap Rank

#6874 Global

#978 in Germany

Share Price

€0.72

Change (1 day)

+0.00%

52-Week Range

€0.72 - €0.89

All Time High

€0.89