Valuation China Merchants Bank Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 13/09/2024			5-day change	1st Jan Change
30.60 ^CNY	+1.22%		-2.08%	+9.99%

13/09	Jiangsu Expressway to Issue 400 Million Yuan in 126-Day Debts	MT
10/09	China Merchants Bank Seeks Debt Payment of 1.09 Billion Yuan From Orient Group in Lawsuit; Orient's Shares Drop 10%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,39,598	10,96,062	12,31,298	9,45,895	6,87,245	7,55,093	-	-
Change	-	16.65%	12.34%	-23.18%	-27.34%	9.87%	-	-
Enterprise Value (EV)	9,39,598	10,96,062	12,31,298	9,45,895	6,87,245	7,55,093	7,55,093	7,55,093
Change	-	16.65%	12.34%	-23.18%	-27.34%	9.87%	0%	0%
P/E ratio	10.4x	11.6x	10.6x	7.08x	4.94x	5.26x	5.01x	4.7x
PBR	1.64x	1.73x	1.43x	1.14x	0.76x	0.75x	0.68x	0.62x
PEG	-	2.47x	0.5x	0.5x	0.7x	1.62x	1x	0.7x
Capitalization / Revenue	3.48x	3.77x	3.72x	2.74x	2.03x	2.27x	2.16x	2.01x
EV / Revenue	0x	0x	0x	0x	0x	2.27x	2.16x	2.01x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / EBIT	0x	0x	0x	0x	0x	3.51x	3.37x	3.12x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Dividend per Share ²	1.2	1.253	1.522	1.738	1.972	2.016	2.11	2.287
Rate of return	3.19%	2.85%	3.12%	4.66%	7.09%	6.59%	6.9%	7.47%
EPS ²	3.62	3.79	4.61	5.26	5.63	5.813	6.104	6.514
Distribution rate	33.1%	33.1%	33%	33%	35%	34.7%	34.6%	35.1%
Net sales ¹	2,69,703	2,90,482	3,31,253	3,44,784	3,39,123	3,32,379	3,50,164	3,75,895
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	1,17,047	1,22,643	2,14,135	2,20,154	2,15,611	2,15,004	2,24,157	2,41,975
Net income ¹	92,867	97,342	1,19,922	1,38,012	1,46,602	1,45,186	1,53,202	1,64,369
Net Debt	-	-	-	-	-	-	-	-
Reference price ²	37.58	43.95	48.71	37.26	27.82	30.60	30.60	30.60
Nbr of stocks (in thousands)	2,52,19,846	2,52,19,846	2,52,19,846	2,52,19,846	2,52,19,846	2,52,19,846	-	-
Announcement Date	17/01/20	14/01/21	14/01/22	13/01/23	19/01/24	-	-	-

¹CNY in Million²CNY

Estimates

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E ratio	EV / Sales	EV / EBITDA	Yield (Y)	Capi. ($)
CHINA MERCHANTS BANK CO., LTD.	5.26x	-	-	+6.59%	11TCr
JPMORGAN CHASE & CO.	11.44x	-	-	+2.35%	58TCr
BANK OF AMERICA CORPORATION	11.87x	-	-	+2.59%	30TCr
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	3.91x	-	-	+7.91%	26TCr
WELLS FARGO & COMPANY	10.4x	-	-	+2.85%	18TCr
CHINA CONSTRUCTION BANK CORPORATION	3.79x	-	-	+8.01%	18TCr
ROYAL BANK OF CANADA	15.15x	-	-	+3.33%	17TCr
BANK OF CHINA LIMITED	4.14x	-	-	+7.68%	17TCr
COMMONWEALTH BANK OF AUSTRALIA	24.47x	-	-	+3.33%	16TCr
HSBC HOLDINGS PLC	6.89x	-	-	+9.73%	16TCr
Average	9.73x	-	-	+5.44%	22.66TCr
Weighted average by Cap.	10.00x	-	-	+4.76%