Relative valuation of sf holding Co., Ltd.

Abstract

As China's express logistics market rapidly expands and competition intensifies, accurately assessing the investment value of logistics companies becomes crucial for both investors and firms. This paper focuses on SF Holding, applying DuPont analysis and relative valuation methods to evaluate its investment value and strategy. It first conducts DuPont analysis to reveal the financial drivers behind valuation changes, and finds that market expectations for SF’s growth are relatively balanced. Based on China's logistics market structure, policy environment, and consumer behavior, seven Chinese logistics companies are selected as benchmarks. Although SF’s brand premium and technological advantages support a higher valuation multiple, industry median valuations indicate potential overvaluation. The paper proposes a target price range of 40–50 and recommends upgrading the investment rating to "buy" when appropriate. The study provides investors with clear analytical logic, actionable invest