China Merchants Bank Co., Ltd.

OTC
CIHKY
Stock
Yield per half year: +19.78%
Dividend yield: 5.39%
Sector: Financials

Reporting China Merchants Bank Co., Ltd.

Capitalization

IFRS
Reporting Annual Quarterly
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM 5 year average CAGR 5
Капитализация, млрд ¥
64.96 54.85 82.4 104.42 121.84 129.72 207.86 766.59 117.29 108.45 268.66 -0.76
Выручка, млрд ¥
208.7 219.9 247.25 267.98 287.6 327.22 342.26 297.8 334.86 334.86 317.95 3.09
Чистая прибыль, млрд ¥
62.08 70.15 80.56 92.87 97.34 119.92 138.01 146.6 148.39 148.39 130.05 8.80
EV, млрд ¥
396.97 77.87 -180.32 1 422.17 212.96 536.64 4 154.28 5 250.34 -240.5 -240.5 1982.74 -202.46
EBIT, млрд ¥
172.75 159.55 182.79 211.92 116.58 124.32 146.44 298.09 -16.29 -16.29 133.83 -167.46
EBITDA, млрд ¥
176.67 163.81 188.06 217.75 127.9 134.54 160.79 313.58 -0.045 -0.045 147.35 -120.38
OIBDA, млрд ¥
159.02 188.13 474.55 119.62 235.33 -6.87
Баланс стоимость, млрд ¥
402.35 480.21 540.12 611.3 723.75 858.75 945.5 1 021.34 1 226.01 1 226.01 955.07 11.12
FCF, млрд ¥
-138.12 -22 -53.21 -19.53 402.2 157.89 535.25 1 287.87 412.09 412.09 559.06 0.49
Операционный денежный поток, млрд ¥
-120.62 -5.66 -35.72 4.43 421.33 182.05 570.14 1 502.01 447.02 447.02 624.51 1.19
Операционная прибыль, млрд ¥
77.72 182.79 216.77 116.58 121.82 147.26 298.98 266.26 217.21 217.21 210.31 12.26
Операционные расходы, млрд ¥
65.15 70.43 81.11 91.5 102.81 116.88 122.06 31.54 117.65 117.65 98.19 2.73
CAPEX, млрд ¥
17.5 16.34 17.49 23.96 19.13 24.16 34.89 214.14 34.93 34.93 65.45 12.80


Balance sheet

IFRS
Reporting Annual Quarterly
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM 5 year average CAGR 5
Наличность, млрд ¥
306.25 857.27 913.59 985.54 876.67 846.62 960.91 1 073.59 1 212.67 1 212.67 994.09 6.70
Short Term Investments ¥
329.39 410.49 391.14 411.84 272.14 217.09 158.51 1 756.09 1 756.09 563.13 33.65
Long term investments ¥
955.36 1 379.82 934.57 1 030.11 1 714.49 433.28 2 130.89 2 224.04 2 815.2 3 239.24 2168.53 49.53
Total Receivables ¥
45.23 253.11 432.31 741 555 600.97 0.321 0.314 0.34 0.321 120.45 -77.84
Total Current Assets ¥
861.24 1 458.24 913.59 985.54 876.67 846.62 960.91 1 514.89 1 212.67 1 212.67 1082.35 6.70
Чистые активы, млрд ¥
30.81 43.07 49.18 55.44 80.13 82.31 92.69 132.55 133.53 134.19 104.24 10.75
Активы, млрд ¥
5 942.31 6 297.64 6 745.73 7 417.24 8 361.45 9 249.02 10 138.91 11 028.48 12 152.04 12 152.04 10185.98 7.76
Short Term Debt ¥
373.2 46.76 1 602.21 358.72 475.9 116.84 255.91 255.91 561.92 -30.71
Long Term Debt ¥
173.91 179.1 333.64 641.09 784.95 758.46 683.65 640.36 15.43
Задолженность, млрд ¥
5 538.95 5 814.25 6 202.12 758.49 503.9 631.11 429.69 9 942.75 10 918.56 10 918.56 4485.20 85.00
Чистый долг, млрд ¥
217.71 -288.06 -284.72 -227.05 -372.77 -215.51 -531.22 2 265.34 -1 212.67 -1 212.67 -13.3660 26.61
Долг, млрд ¥
547.11 225.86 596.57 2 285.87 453.34 1 110 429.69 1 582.84 1 582.84 1172.35 -7.09
Interest income ¥
215.48 242.01 270.91 292.99 307.43 327.06 353.38 372.76 330.72 4.93
Расходы на обслуживание долга ¥
80.89 97.15 110.53 119.9 122.39 123.14 135.15 160.94 162.99 162.99 140.92 5.90
Чист. проц. доходы, млрд ¥
134.6 144.85 160.38 173.09 185.03 203.92 218.24 218.39 52.36 199.73 4.76
Goodwill ¥
9.95 9.95 9.95 9.95 9.95 9.95 9.95 9.95 10 9.95 9.96 0.00
Амортизация, млрд ¥
4.26 5.27 5.83 11.32 10.22 14.35 15.49 15.44 15.59 15.59 14.22 8.81
Себестоимость, млрд ¥
-41.32 161.64 -41.3200 0.00
Товарно материальные запасы ¥
0.062 0.455 0.691 0.864 0.868 0.597 0.768 0.612 0.513 0.6716 -9.98


Share

IFRS
Reporting Annual Quarterly
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 5 year average CAGR 5
EPS 0.3724 0.4419 0.4774 0.5283 0.5888 2.18 5.47 5.82 28.3 28.3 8.47 116.95
Цена акции ао 19.89 18.33 25.7 31.6 38.83 27.96 17.42 25.25 33.3 33.3 28.55 -3.03
Число акций ао, млн 5048.06 5011.79 5141.82 5120.58 5107.62 5112.6 25219.85 25197.16 5243.5 5243.5 13176.15 0.53
FCF/акцию -27.36 -4.39 -10.35 -3.81 78.75 30.88 21.22 51.11 78.59 78.59 52.11 -0.04


Efficiency

IFRS
Reporting Annual Quarterly
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average 5 year average CAGR 5
ROE, % 15.43 14.61 14.92 15.19 13.45 13.96 15.3 14.91 13.21 13.21 20.26 14.17 -0.36
ROA, % 1.04 1.11 1.19 1.25 1.16 1.3 1.42 1.39 1.28 1.28 5.10 1.31 1.99
ROIC, % 13.57 8.26 5.88 5.57 6.23 4.69 11.76 11.84 33.18 7.97 7.36 13.89 11.19
ROS, % 31.9 32.58 34.65 33.85 36.65 40.32 49.23 44.31 44.31 44.31 30.53 42.96 3.87
ROCE, % 39.56 37.81 38.98 1.75 1.58 1.7 5.93 -0.2656 -1.32 -1.32 8.03 1.52 -196.47
Ebit margin, % 43.5 43.22 44.75 87.1 -5.47 -4.86 -4.86 32.95 -164.59
Рентаб EBITDA, % 78.49 85.52 88.07 47.73 46.78 49.14 91.62 -0.0151 -0.0134 -0.0134 25.01 37.50 -119.56
Чистая рентаб, % 29.75 31.9 32.58 34.65 33.85 36.65 40.32 49.23 44.31 44.31 30.53 40.87 5.53
Operation Margin, % 83.12 87.67 43.5 42.36 45 87.35 89.41 64.87 64.87 64.87 28.21 70.30 7.59
Чистая процентная маржа, % 39.04 33.74 28.66 29.75 31.9 32.58 34.65 33.85 36.65 37.05 23.20 33.93 2.82
Доходность FCF, % 558.18 602.45 -251.82 -26.69 -50.96 -16.03 310.04 75.96 69.82 154.66 118.89 -257.36


Coefficients

IFRS
Reporting Annual Quarterly
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average 5 year average CAGR 5
P/E
0.8835 1.17 1.3 1.31 1.33 1.73 33.95 20.36 6.55 6.55 13.47 12.78 37.56
P/BV
0.1363 0.1716 0.1933 0.1993 0.1792 0.242 0.4826 2.75 0.7882 0.7882 1.74 0.8884 34.48
P/S
0.2628 0.3747 0.4223 0.4546 0.4511 0.6352 13.69 10.02 2.9 2.9 3.06 5.54 45.09
P/FCF
-3.75 -1.96 -6.24 0.3225 1.32 1.43 0.6466 0.0842 0.2632 0.2632 2.82 0.7488 -27.57
E/P
0.8514 0.7715 0.7622 0.7504 0.5769 0.18 1.25 1.35 1.37 1.37 87.84 0.9454 18.88
EV/EBIT
38.24 38.93 41.11 13.94 -322.34 -322.34 14.77 14.77 -114.9720 -18.51
EV/EBITDA
3.22 -0.17 3.88 2.4 11.12 -0.73 1.55 13.25 -116674.25 -116674.25 -135.55 -23329.8120 -737.05
EV/S
2.99 0.4699 5.31 16.83 18.4 12.14 17.63 -0.7182 -0.7182 -0.7182 1.56 9.35 -152.27
EV/FCF
3.58 0.2949 -72.81 12.03 38.13 7.76 4.08 -0.5836 -0.5836 -0.5836 2.03 9.76 -143.35
Debt/EBITDA
1.2 2.89 17.87 1.96 2.29 1.37 -35174.16 -35174.16 -35174.16 -35174.16 -179.19 -21103.7640 -787.51
Netdebt/Ebitda
-1.53 -1.31 -1.78 -2.77 -1.34 -1.69 -50340.82 -50340.82 26948.13 26948.13 208.29 -14747.3080 -825.58
Debt/Ratio
0.92 0.92 0.3082 0.91 0.91 0.0424 0.1435 0.1435 0.1303 0.1303 0.12 0.2739 -32.21
Debt/Equity
12.11 11.48 3.74 10.54 10.54 0.4545 1.55 11.8 8.85 8.85 8.42 6.64 -3.43
Debt/Net Income
10.57 4.04 24.61 5.18 5.26 3.11 10.8 10.8 10.67 10.67 17.86 8.13 15.20
PEG
12.29 12.29 12.29 0.00
Бета
0.79 0.93 1 -1.33 2.54 1.77 1.77 0.69 0.9820 13.74
Индекс Альтмана
0.0623 0.0616 -0.0815 -0.0101 -0.1202 0.0747 2.6 0.1496 0.0255 0.0255 54.78 0.5459 -173.34


Dividends

IFRS
Reporting Annual Quarterly
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average 5 year average CAGR 5
Див.выплата, млрд
20.02 29.98 33.18 34.73 43.01 51.81 47.08 318.27 61.03 47.45 104.24 7.25
Дивиденд
0.5225 0.5373 0.663 0.6818 0.8469 0.98 1.14 1.22 1.36 1.36 1.11 9.94
Див доход, ао, %
4.81 3.27 3.26 2.87 3.33 2.41 4.48 5.03 5.39 5.39 6.29 4.13 10.11
Дивиденды / прибыль, %
48.29 47.29 43.1 46.31 53.23 39.26 40.94 217.1 41.13 41.13 49.09 78.33 -5.03
Dividend Coverage Ratio
3.13 3.13 3.13 0.00


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Other

IFRS
Reporting Annual Quarterly
2020 2021 2022 2023 2024 LTM CAGR 5
CAPEX/Выручка, %
6.65 7.38 10.19 71.91 10.43 10.43 9.42
Персонал, чел
90 078 103 669 112 999 116 529 6.65