China Mobile Limited

SEHK-941

Basic

Market Cap
HK$1,643.53B
EV
HK$1,347.75B
Shares Out
21.44B
Revenue
CN¥1,022.27B
Employees
451,830

Margins

Gross
28.6%
EBITDA
29.71%
Operating
14.07%
Pre-Tax
16.86%
Net
13.04%
FCF
10.47%

Returns (5Yr Avg)

ROA
6.67%
ROTA
10.31%
ROE
9.95%
ROCE
10.17%
ROIC
6.76%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
HK$86.67
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥376.13B
Net Debt
-CN¥277.18B
Debt/Equity
0.07
EBIT/Interest
39.55

Growth (CAGR)

Rev 3Yr
9.19%
Rev 5Yr
6.78%
Rev 10Yr
4.78%
Dil EPS 3Yr
5.66%
Dil EPS 5Yr
1.35%
Dil EPS 10Yr
0.62%
Rev Fwd 2Yr
6.41%
EBITDA Fwd 2Yr
-0.52%
EPS Fwd 2Yr
5.8%
EPS LT Growth Est
6.5%

Dividends

Yield
—
Payout
70.33%
DPS
CN¥4.38
DPS Growth 3Yr
15.05%
DPS Growth 5Yr
9.71%
DPS Growth 10Yr
5.54%
DPS Growth Fwd 2Yr
3.36%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						745,917	768,070	848,258	937,259	1,009,309	1,022,270
Total Revenues % Chg.						1.2%	3%	10.4%	10.5%	7.7%	6.4%
Cost of Goods Sold, Total						336,121	373,917	604,185	677,097	724,604	729,877
Gross Profit						409,796	394,153	244,073	260,162	284,705	292,393
Selling General & Admin Expenses, Total						67,756	62,175	101,471	104,125	108,502	110,552
Provision for Bad Debts	—	—	—	—	—	—	—	4,118	4,866	9,470	12,467
R&D Expenses	—	—	—	—	—	—	—	15,577	18,091	28,711	28,900
Depreciation & Amortization						182,818	172,401	—	—	—	—
Other Operating Expenses						43,162	45,296	2,722	-3,725	-3,957	-3,393
Other Operating Expenses, Total						293,736	279,872	123,888	123,357	142,726	148,526
Operating Income						116,060	114,281	120,185	136,805	141,979	143,867
Interest Expense, Total						-3,239	-2,976	-2,679	-2,330	-3,730	-3,638
Interest And Investment Income						10,065	11,447	24,330	23,956	17,218	19,585
Net Interest Expenses						6,826	8,471	21,651	21,626	13,488	15,947
Income (Loss) On Equity Invest.						12,641	12,678	—	—	—	—
Currency Exchange Gains (Loss)	—	—	—	—	—	—	—	11	327	-4	-4
Other Non Operating Income (Expenses)						4,022	5,582	-311	-38	-114	-324
EBT, Excl. Unusual Items						139,549	141,012	141,536	158,720	155,349	159,486
Impairment of Goodwill		—	—	—	—	—	—	—	—	—	—
Gain (Loss) On Sale Of Investments	—	—	—			5,495	2,894	4,102	2,759	12,874	10,556
Gain (Loss) On Sale Of Assets						64	-1,547	—	—	—	—
Asset Writedown						-2,975	—	-1,911	-1,046	-490	-439
Other Unusual Items	—	—	—	—	—	—	—	8,246	2,439	2,798	2,798
EBT, Incl. Unusual Items						142,133	142,359	151,973	162,872	170,531	172,401
Income Tax Expense						35,342	34,219	35,878	37,278	38,596	38,920
Earnings From Continuing Operations						106,791	108,140	116,095	125,594	131,935	133,481
Minority Interest						-150	-297	-158	-135	-169	-173
Net Income						106,641	107,843	115,937	125,459	131,766	133,308
Net Income to Common Incl Extra Items						106,641	107,843	115,937	125,459	131,766	133,308
Net Income to Common Excl. Extra Items						106,641	107,843	115,937	125,459	131,766	133,308
Total Shares Outstanding						20,475.5	20,475.5	20,475.5	21,362.8	21,362.8	21,455.8
Weighted Avg. Shares Outstanding						20,475.5	20,475.5	20,475.5	21,346.9	21,376.3	21,383.9
Weighted Avg. Shares Outstanding Dil						20,475.5	20,475.5	20,475.5	21,347	21,408.8	21,416.5
EPS						5.2	5.3	5.7	5.9	6.2	6.2
EPS Diluted						5.2	5.3	5.7	5.9	6.1	6.2
EBITDA						276,127	260,670	313,230	336,882	309,908	303,759
Effective Tax Rate						24.9%	24%	23.6%	22.9%	22.6%	22.6%