China Merchants Bank Co., Ltd.

SHSE-600036

Basic

Market Cap
CN¥813.95B
EV
—
Shares Out
25.22B
Revenue
CN¥295.8B
Employees
116,529

Margins

Gross
—
EBITDA
—
Operating
—
Pre-Tax
59.14%
Net
49.3%
FCF
-154.21%

Returns (5Yr Avg)

ROA
1.33%
ROTA
15.24%
ROE
15.09%
ROCE
—
ROIC
1.56%

Valuation (TTM)

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

Valuation (NTM)

Price Target
CN¥40.48
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
—
Net Debt
-CN¥42.43B
Debt/Equity
—
EBIT/Interest
—

Growth (CAGR)

Rev 3Yr
8.17%
Rev 5Yr
8.87%
Rev 10Yr
—
Dil EPS 3Yr
12.25%
Dil EPS 5Yr
11.64%
Dil EPS 10Yr
9.34%
Rev Fwd 2Yr
2.72%
EBITDA Fwd 2Yr
16.06%
EPS Fwd 2Yr
5.52%
EPS LT Growth Est
3.14%

Dividends

Yield
—
Payout
35.2%
DPS
CN¥1.97
DPS Growth 3Yr
16.32%
DPS Growth 5Yr
15.97%
DPS Growth 10Yr
12.27%
DPS Growth Fwd 2Yr
4.63%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Interest Income On Loans						292,994	307,425	327,056	353,380	375,610	376,401
Interest Income, Total						292,994	307,425	327,056	353,380	375,610	376,401
Interest On Deposits						119,904	122,394	123,137	135,145	160,941	165,141
Interest Expense, Total						119,904	122,394	123,137	135,145	160,941	165,141
Net Interest Income						173,090	185,031	203,919	218,235	214,669	211,260
Gain (Loss) on Sale of Assets	—					382	44	113	—	—	—
Gain (Loss) on Sale of Invest. & Securities					—	2,987	2,875	2,994	15,723	21,265	21,265
Income (Loss) on Equity Invest.						1,723	2,881	4,030	2,525	2,476	2,476
Total Other Non Interest Income						91,521	99,651	120,197	108,257	100,668	99,919
Non Operating Income (Expenses) -	—	—	—	—	—	317	—	—	—	—	—
Non Interest Income, Total						96,930	105,451	127,334	126,505	124,409	123,660
Revenues Before Provison For Loan Losses						270,020	290,482	331,253	344,740	339,078	334,920
Provision For Loan Losses						61,066	64,871	65,962	56,751	41,278	39,124
Total Revenues						208,954	225,611	265,291	287,989	297,800	295,796
Total Revenues % Chg.						11.3%	8%	17.6%	8.6%	3.4%	1.5%
Selling General & Admin Expenses, Total						86,541	96,745	109,727	32,548	31,537	31,537
(Income) Loss on Real Estate Property	—	—	—	—		—	—	—	—	—	—
(Income) Loss on Equity Invest.	—	—	—	—	—	—	—	—	—	—	47
Total Other Non Interest Expense						5,049	6,223	7,545	90,328	89,645	89,287
Non Operating (Income) Expenses	—	—				232	203	-154	—	—	—
Non Interest Expense, Total						91,822	103,171	117,118	122,876	121,182	120,871
EBT, Excl. Unusual Items						117,132	122,440	148,173	165,113	176,618	174,925
Other Unusual Items			—	—	—	—	—	—	—	—	—
EBT, Incl. Unusual Items						117,132	122,440	148,173	165,113	176,618	174,925
Income Tax Expense						23,709	24,481	27,339	25,819	28,612	27,703
Earnings From Continuing Operations						93,423	97,959	120,834	139,294	148,006	147,222
Minority Interest						-556	-617	-912	-1,282	-1,404	-1,382
Net Income						92,867	97,342	119,922	138,012	146,602	145,840
Preferred Dividend and Other Adjustments	—	—	—	—		1,670	1,651	3,613	5,237	4,558	4,558
Net Income to Common Incl Extra Items						91,197	95,691	116,309	132,775	142,044	141,282
Net Income to Common Excl. Extra Items						91,197	95,691	116,309	132,775	142,044	141,282
Total Shares Outstanding						25,219.8	25,219.8	25,219.8	25,219.9	25,219.8	25,219.8
Weighted Avg. Shares Outstanding						25,220	25,220	25,220	25,220	25,220	25,219.1
Weighted Avg. Shares Outstanding Dil						25,220	25,220	25,220	25,220	25,220	25,219.1
EPS						3.6	3.8	4.6	5.3	5.6	5.6
EPS Diluted						3.6	3.8	4.6	5.3	5.6	5.6
Effective Tax Rate						20.2%	20%	18.5%	15.6%	16.2%	15.8%