China Merchants Bank Co., Ltd. Class A

China Merchants Bank Co., Ltd. Class A

6.00
EUR
-0.05
(-0.89%)
2.43EPS
2.07P/E
118.17BMarket Cap
Oct 30Next Earn
China Merchants Bank Co., Ltd. Class A
GETTEX:M4B
(Gettex)

Recent

price

6.00

P/E

ratio

2.07

div

yld

10.14%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
3.55
4.63
5.59
6.26
7
8.5
8.82
9.27
10.22
11.11
11.91
13.38
13.87
13.75
13.58
13.4
42.25
Revenue per Share
1.28
1.74
2.23
2.45
2.36
2.44
2.62
2.96
3.33
3.85
4.03
4.9
5.59
5.99
6.02
6.06
18.7
Basic EPS, GAAP
0.17
4.68
12
5.24
11.15
16.52
-5.82
-0.93
-2.2
-0.81
16.65
6.45
21.7
13.38
16.72
17.09
72.09
Free Cash Flow per Basic Share
0.32
0.39
0.55
0.81
0.73
0.85
1.26
1.4
1.43
1.78
2.15
1.92
2.29
2.3
2.48
2.49
4.72
Dividend per Share
6.47
7.97
9.68
11.19
13.26
15.21
16.97
18.52
21.34
24.34
29.08
34.78
38.71
44.23
50.54
52.52
56.72
Book Value per Share
5.88
7.38
9.08
10.65
12.7
14.64
16.38
17.8
20.53
23.51
28.25
33.99
37.96
43.51
49.85
51.84
56.06
Tangible Book Value per Share
20,082
20,737
20,269
21,154
23,681
23,690
23,729
23,727
24,201
24,122
24,150
24,460
24,671
24,485
24,652
24,774
8,047
Basic Weighted Avg Shares
71,313
96,108
113,336
132,516
165,705
201,335
209,399
219,899
247,246
267,980
287,601
327,223
342,258
336,647
334,856
332,059
339,993
Sales/Revenue/Turnover
46.22
- -
52.16
51.25
43.91
36.88
37.11
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
2,211
2,304
2,499
2,906
3,334
3,923
4,264
5,272
5,831
11,323
12,712
13,531
14,606
15,439
15,590
15,392
- -
Depreciation Expense
25,769
36,129
45,268
51,743
55,911
57,696
62,081
70,150
80,560
92,867
97,342
119,922
138,012
146,602
148,391
150,181
150,498
Net Income, GAAP
22.72
23.33
23.99
24.38
23.67
22.72
21
22.1
24.11
20.24
19.99
18.45
15.64
16.2
16.28
15.57
15.56
Effective Tax Rate (%)
36.14
37.59
39.94
39.05
33.74
28.66
29.65
31.9
32.58
34.65
33.85
36.65
40.32
43.55
44.31
45.23
44.27
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
81,858
113,651
186,926
194,068
200,758
430,278
523,958
569,211
628,876
758,491
503,900
631,107
443,861
436,552
471,075
405,441
437,616
LT Debt
134,006
165,010
200,401
265,956
315,060
361,758
403,362
476,490
543,605
617,707
730,354
865,681
954,238
1,085,729
1,233,475
1,280,899
1,353,301
Total Equity
10.58
- -
11.97
10.11
6.3
1.74
1.04
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
13.09
14.61
13.59
12.21
11.43
8.77
7.19
7.06
7.24
7.24
7.41
8.72
9.45
9.94
9.12
8.8
8.59
Return on Capital (%)
22.73
24.17
24.78
22.22
19.28
17.09
16.27
16.67
17.04
17.15
15.37
15.84
15.84
14.91
13.21
12.29
11.74
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
27,468
- -
- -
Shares Outstanding
23,714
23,714
23,714
Market Capitalization
1,119,995
1,019,108
915,934

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
1,321,522
1,359,584
1,525,249
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.56%
12%
3.84%
Free Cash Flow
-213.2%
33.6%
2.72%
Net Income, GAAP
10.25%
9.39%
1.21%
Sales/Revenue/Turnover
5.25%
3.07%
-0.84%
Total Cash Common Dividend
12.95%
4.02%
1.18%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
86,417
84,978
79,764
82,147
334,856
2025
83,751
84,546
- -
80,639
332,059
2026
86,940
87,868
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.61
12.16
1.62
11.23
6.02
2025
1.57
13.81
- -
13.2
6.06
2026
1.58
13.71
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.33
2.26
1.44
2.48
2025
0.04
0.67
- -
2.39
2.49
2026
1.12
0.99
- -
- -
- -
Business
China Merchants Bank Co., Ltd. (600036.SS) operates as a leading joint-stock commercial bank in China, providing a comprehensive range of wholesale finance, retail finance, private banking, treasury, wealth management, asset custody, financial leasing, investment banking, brokerage, insurance and transaction banking services; key offerings include corporate loans, deposits and settlements, personal savings, loans, credit cards, foreign exchange, stock and gold trading, SME financing such as supply chain and high-tech loans, cross-border finance, custody services and pension products. Founded in 1987 and headquartered in Shenzhen, Guangdong Province, the bank maintains over 140 branches and 1,700 sub-branches across more than 130 cities in mainland China, with overseas operations including branches in Hong Kong, New York, London and Taipei, and wholly-owned subsidiaries such as CMB Wing Lung Bank, CMB Financial Leasing and CMB International Capital. It primarily serves corporate clients, financial institutions, retail customers and SMEs in domestic and international markets. In late 2025, CMB Financial Asset Investment Co., Ltd., a wholly-owned subsidiary with RMB15 billion registered capital, commenced operations in Shenzhen to conduct market-oriented debt-to-equity swaps and enhance industrial-finance synergy; additionally, Ping An Asset Management increased its H-share holding to 21.13% and Citigroup to 5.21%. As of mid-2025, total assets exceed RMB11 trillion, with a focus on retail (about 62% of net interest income) and corporate banking segments.

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