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Agricultural Bank of China

WBAG:EK7
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EK7
WBAG
HK$1,410B
Market Cap
  1. Home
  2. AT
  3. Banks
Company description

Agricultural Bank of China Limited provides corporate and retail banking products and services in the Mainland China and internationally. The last earnings update was 23 days ago. More info.


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EK7 Share Price and Events
7 Day Returns
1.3%
WBAG:EK7
-1%
AT Banks
0.9%
AT Market
1 Year Returns
-
WBAG:EK7
-11.9%
AT Banks
-8.7%
AT Market
EK7 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Agricultural Bank of China (EK7) 1.3% -7.5% -7.7% - - -
AT Banks -1% -7.6% 3.2% -11.9% 57.1% 25.4%
AT Market 0.9% -5.3% 2% -8.7% 42.7% 26.2%
1 Year Return vs Industry and Market
  • No trading data on EK7.
  • No trading data on EK7.
Price Volatility
EK7
Industry
5yr Volatility vs Market

EK7 Value

 Is Agricultural Bank of China undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Agricultural Bank of China to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Agricultural Bank of China.

WBAG:EK7 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 20 analysts.
= Stable Book Value * Return on Equity
= CN¥5.44 * 12.3%
CN¥0.67
Book Value of Equity per Share Weighted future Book Value estimates from 18 analysts. CN¥5.44
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:EK7
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.58
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.584 (1 + (1- 25%) (130.7%))
1.105
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.105 * 5.96%)
7.1%

Discounted Cash Flow Calculation for WBAG:EK7 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Agricultural Bank of China is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

WBAG:EK7 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.3% – 7.1%) * CN¥5.44)
CN¥0.29
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.29 / (7.1% - 0.51%)
CN¥4.33
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥5.44 + CN¥4.33
CN¥9.77
WBAG:EK7 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1288)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥9.77 x 1.135
HK$11.08
Non-primary Listing Adjustment Factor 1 share in WBAG:EK7 represents 0.11527x of SEHK:1288
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11527x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 11.08 x 0.11527
€1.28
Value per share (EUR) From above. €1.28
Current discount Discount to share price of €0.39
= -1 x (€0.39 - €1.28) / €1.28
69.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Agricultural Bank of China is available for.
Intrinsic value
>50%
Share price is €0.39 vs Future cash flow value of €1.28
Current Discount Checks
For Agricultural Bank of China to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Agricultural Bank of China's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Agricultural Bank of China's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Agricultural Bank of China's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Agricultural Bank of China's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:EK7 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥0.59
SEHK:1288 Share Price ** SEHK (2019-05-17) in HKD HK$3.34
SEHK:1288 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥2.94
Austria Banks Industry PE Ratio Median Figure of 7 Publicly-Listed Banks Companies 8.27x
Austria Market PE Ratio Median Figure of 53 Publicly-Listed Companies 14.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Agricultural Bank of China.

WBAG:EK7 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1288 Share Price ÷ EPS (both in CNY)

= 2.94 ÷ 0.59

5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agricultural Bank of China is good value based on earnings compared to the AT Banks industry average.
  • Agricultural Bank of China is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Agricultural Bank of China's expected growth come at a high price?
Raw Data
WBAG:EK7 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
5.8%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.8x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

WBAG:EK7 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5x ÷ 5.8%

0.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agricultural Bank of China is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Agricultural Bank of China's assets?
Raw Data
WBAG:EK7 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥4.72
SEHK:1288 Share Price * SEHK (2019-05-17) in HKD HK$3.34
SEHK:1288 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥2.94
Austria Banks Industry PB Ratio Median Figure of 7 Publicly-Listed Banks Companies 0.59x
Austria Market PB Ratio Median Figure of 60 Publicly-Listed Companies 1.22x
WBAG:EK7 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1288 Share Price ÷ Book Value per Share (both in CNY)

= 2.94 ÷ 4.72

0.62x

* Primary Listing of Agricultural Bank of China.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agricultural Bank of China is overvalued based on assets compared to the AT Banks industry average.
X
Value checks
We assess Agricultural Bank of China's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Agricultural Bank of China has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

EK7 Future Performance

 How is Agricultural Bank of China expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Agricultural Bank of China expected to grow at an attractive rate?
  • Agricultural Bank of China's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Agricultural Bank of China's earnings growth is positive but not above the Austria market average.
  • Agricultural Bank of China's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:EK7 Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:EK7 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 5.8%
WBAG:EK7 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 9%
Austria Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.4%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.3%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:EK7 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:EK7 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 732,697 236,502 8
2020-12-31 686,204 227,696 15
2019-12-31 640,187 212,213 9
WBAG:EK7 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 473,674 -1,173,824 200,698
2018-12-31 465,910 -987,663 198,183
2018-09-30 462,631 -1,623,895 199,963
2018-06-30 454,139 -1,507,804 195,558
2018-03-31 443,350 -1,364,604 191,388
2017-12-31 444,833 -341,547 188,362
2017-09-30 435,540 -580,923 185,181
2017-06-30 432,536 -852,156 182,786
2017-03-31 427,580 43,227 180,363
2016-12-31 423,683 -717,811 179,341
2016-09-30 432,576 -201,897 179,142
2016-06-30 445,471 -60,448 179,015

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Agricultural Bank of China's earnings are expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
  • Agricultural Bank of China's revenue is expected to grow by 9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:EK7 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Agricultural Bank of China Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:EK7 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.84 0.84 0.84 1.00
2022-12-31 0.80 0.80 0.80 1.00
2021-12-31 0.69 0.78 0.63 12.00
2020-12-31 0.64 0.69 0.59 19.00
2019-12-31 0.60 0.61 0.59 14.00
WBAG:EK7 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 0.59
2018-12-31 0.59
2018-09-30 0.60
2018-06-30 0.59
2018-03-31 0.59
2017-12-31 0.58
2017-09-30 0.57
2017-06-30 0.56
2017-03-31 0.55
2016-12-31 0.55
2016-09-30 0.55
2016-06-30 0.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Agricultural Bank of China is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Agricultural Bank of China's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Austria market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Agricultural Bank of China has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

EK7 Past Performance

  How has Agricultural Bank of China performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Agricultural Bank of China's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Agricultural Bank of China's year on year earnings growth rate has been positive over the past 5 years.
  • Agricultural Bank of China's 1-year earnings growth exceeds its 5-year average (4.9% vs 2.5%)
  • Agricultural Bank of China's earnings growth has not exceeded the AT Banks industry average in the past year (4.9% vs 12.4%).
Earnings and Revenue History
Agricultural Bank of China's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Agricultural Bank of China Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:EK7 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 473,674.00 200,698.00 204,595.00
2018-12-31 465,910.00 198,183.00 204,595.00
2018-09-30 462,631.00 199,963.00 160,536.00
2018-06-30 454,139.00 195,558.00 160,536.00
2018-03-31 443,350.00 191,388.00 161,208.00
2017-12-31 444,833.00 188,362.00 199,617.00
2017-09-30 435,540.00 185,181.00 186,465.00
2017-06-30 432,536.00 182,786.00 186,465.00
2017-03-31 427,580.00 180,363.00 224,874.00
2016-12-31 423,683.00 179,341.00 186,465.00
2016-09-30 432,576.00 179,142.00 185,033.00
2016-06-30 445,471.00 179,015.00 99,633.00
2016-03-31 456,997.00 178,754.00 185,033.00
2015-12-31 456,690.00 178,182.00 185,033.00
2015-09-30 458,232.00 180,232.00 182,285.00
2015-06-30 454,200.00 179,744.00 267,685.00
2015-03-31 453,403.00 180,147.00 182,285.00
2014-12-31 456,182.00 179,461.00 182,285.00
2014-09-30 442,115.00 180,766.00 166,755.00
2014-06-30 438,191.00 177,995.00 88,646.00
2014-03-31 428,730.00 172,734.00 166,755.00
2013-12-31 412,795.00 166,315.00 166,755.00
2013-09-30 407,821.00 162,999.00 153,125.00
2013-06-30 396,186.00 156,947.00 231,234.00
2013-03-31 381,378.00 148,651.00 153,125.00
2012-12-31 370,752.00 145,094.00 153,125.00
2012-09-30 361,450.00 141,253.00 92,386.00
2012-06-30 346,743.00 135,759.00 92,386.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Agricultural Bank of China has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Agricultural Bank of China used its assets less efficiently than the AT Banks industry average last year based on Return on Assets.
  • Unable to establish if Agricultural Bank of China improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Agricultural Bank of China's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Agricultural Bank of China has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

EK7 Health

 How is Agricultural Bank of China's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Agricultural Bank of China's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Agricultural Bank of China Company Filings, last reported 1 month ago.

WBAG:EK7 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,737,515.00 1,624,537.00 5,051,993.00
2018-12-31 1,674,787.00 1,862,464.00 1,704,355.00
2018-09-30 1,634,868.00 1,730,718.00 2,238,823.00
2018-06-30 1,569,711.00 1,523,602.00 1,334,120.00
2018-03-31 1,463,627.00 1,519,130.00 4,353,826.00
2017-12-31 1,429,397.00 1,578,189.00 1,856,487.00
2017-09-30 1,409,360.00 1,303,559.00 2,348,367.00
2017-06-30 1,358,441.00 1,309,898.00 1,776,672.00
2017-03-31 1,366,045.00 1,340,570.00 2,624,928.00
2016-12-31 1,321,591.00 1,207,878.00 2,043,545.00
2016-09-30 1,313,025.00 943,842.00 2,080,653.00
2016-06-30 1,258,802.00 874,891.00 1,852,869.00
2016-03-31 1,263,095.00 808,770.00 2,395,386.00
2015-12-31 1,211,885.00 860,096.00 2,252,224.00
2015-09-30 1,175,127.00 750,435.00 2,438,760.00
2015-06-30 1,122,042.00 723,873.00 2,095,231.00
2015-03-31 1,125,520.00 709,176.00 2,665,397.00
2014-12-31 1,032,619.00 768,472.00 1,839,536.00
2014-09-30 958,693.00 708,453.00 2,283,663.00
2014-06-30 907,737.00 636,152.00 2,145,942.00
2014-03-31 905,149.00 457,607.00 2,537,459.00
2013-12-31 844,537.00 475,150.00 1,728,800.00
2013-09-30 828,772.00 465,937.00 2,262,842.00
2013-06-30 791,231.00 471,239.00 1,794,614.00
2013-03-31 800,319.00 437,838.00 2,739,766.00
2012-12-31 751,354.00 355,571.00 1,693,529.00
2012-09-30 727,045.00 266,525.00 2,444,303.00
2012-06-30 691,826.00 278,483.00 1,839,554.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Agricultural Bank of China has an acceptable proportion of non-loan assets held.
  • Agricultural Bank of China's liabilities are made up of primarily low risk sources of funding.
  • Loans at Agricultural Bank of China are broadly funded by customer deposits.
  • Agricultural Bank of China's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Agricultural Bank of China has a sufficient allowance for bad loans.
  • Agricultural Bank of China has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Agricultural Bank of China's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Agricultural Bank of China has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

EK7 Dividends

 What is Agricultural Bank of China's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.91%
Current annual income from Agricultural Bank of China dividends. Estimated to be 6.77% next year.
If you bought €2,000 of Agricultural Bank of China shares you are expected to receive €118 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Agricultural Bank of China's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Agricultural Bank of China's dividend is above the markets top 25% of dividend payers in Austria (4.5%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:EK7 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Austria Banks Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.8%
Austria Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 3.5%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:EK7 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.30 2.00
2022-12-31 0.24 2.00
2021-12-31 0.21 13.00
2020-12-31 0.20 22.00
2019-12-31 0.18 20.00
WBAG:EK7 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-16 0.174 5.896
2018-05-11 0.178 5.629
2017-06-28 0.170 5.220
2016-06-29 0.167 5.746
2015-07-02 0.182 7.359
2014-03-25 0.177 5.964
2013-05-03 0.157 5.707
2012-06-08 0.132 4.790
2011-04-27 0.054 1.841
2011-03-29 0.054 1.423
2010-08-27 0.077 2.266

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agricultural Bank of China has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Agricultural Bank of China only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Agricultural Bank of China's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Agricultural Bank of China's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Agricultural Bank of China afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Agricultural Bank of China has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

EK7 Management

 What is the CEO of Agricultural Bank of China's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mubing Zhou
COMPENSATION CN¥704,000
AGE 61
TENURE AS CEO 0.6 years
CEO Bio

Mr. Mubing Zhou has been an Executive Chairman of Agricultural Bank of China Limited since July 05, 2016 and serves as its President since October 2018. He served as Vice Mayor of Chongqing Municipal Government from March 2004 to December 2010, Secretary General of Chongqing Municipal Government from February 2003 to March 2004 and Director General of General Office of Chongqing Municipal Government from December 2002 to February 2003. Mr. Zhou also served as Secretary of the CPC Yubei Committee of Chongqing Municipality from December 2001 to December 2002, Chief Executive and Deputy Chief Executive of Yubei District in Chongqing Municipality from November 2000 to December 2001, President of Industrial and Commercial Bank of China (ICBC) Fujian Branch from October 1997 to November 2000, Director of Policy and Research Department of the ICBC from February 1995 to October 1997 and Assistant President of the ICBC Hainan Branch from August 1992 to February 1995. He worked in several places, including the production team of Rongchang County of Sichuan Province, Sichuan Rongchang County No. 4 Middle School and Sichuan Finance and Economics College as a teacher. Mr. Zhou has been working at the State Commission for Restructuring the Economic Systems from July 1988 to March 1990. He has been Vice Chairman of the China Banking Regulatory Commission in December 2010. Mr. Zhou received a B.A. in Chinese Language and Literature from Chongqing University of Art and Science in 1981, an M.A. in Economics from Southwestern University of Finance and Economics in 1985 and a PhD in economics from Renmin University of China in 1988.

CEO Compensation
  • Mubing's compensation has been consistent with company performance over the past year.
  • Insufficient data for Mubing to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Agricultural Bank of China management team in years:

1.8
Average Tenure
53.5
Average Age
  • The average tenure for the Agricultural Bank of China management team is less than 2 years, this suggests a new team.
Management Team

Mubing Zhou

TITLE
Chairman of the Board & President
COMPENSATION
CN¥704K
AGE
61
TENURE
0.6 yrs

Wei Wang

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥646K
AGE
55
TENURE
5.4 yrs

Keqiu Zhang

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥646K
AGE
54
TENURE
1.8 yrs

Zhicheng Li

TITLE
Chief Risk Officer
COMPENSATION
CN¥1M
AGE
55
TENURE
2.3 yrs

Wanfu Zhou

TITLE
Company Secretary & Secretary to the Board of Directors
COMPENSATION
CN¥930K
AGE
53
TENURE
1.1 yrs

Mingde Yao

TITLE
General Manager of the Finance & Accounting Department

Dongsheng Zhan

TITLE
Executive Vice President
AGE
53
TENURE
0.1 yrs

Yong Cui

TITLE
Executive Vice President
AGE
49

Dong Cai

TITLE
Executive Vice President
AGE
50

Chris Ho

TITLE
Assistant to the Company Secretary
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the Agricultural Bank of China board of directors in years:

3.4
Average Tenure
55.5
Average Age
  • The tenure for the Agricultural Bank of China board of directors is about average.
Board of Directors

Mubing Zhou

TITLE
Chairman of the Board & President
COMPENSATION
CN¥704K
AGE
61
TENURE
2.9 yrs

Wei Wang

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥646K
AGE
55
TENURE
1.3 yrs

Keqiu Zhang

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥646K
AGE
54
TENURE
0.1 yrs

Tiejun Wen

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥410K
AGE
66
TENURE
8 yrs

Francis Yuen

TITLE
Independent Non-Executive director
COMPENSATION
CN¥380K
AGE
66
TENURE
6.2 yrs

Xing Xiao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥380K
AGE
47
TENURE
4.2 yrs

Jingdong Wang

TITLE
Chairman of the Board of Supervisors
AGE
56
TENURE
0.5 yrs

Wang Li

TITLE
External Supervisor
AGE
53
TENURE
3.9 yrs

Chengxu Liu

TITLE
Employee Representative Supervisor
AGE
56
TENURE
2.8 yrs

Jianbo Chen

TITLE
Non-Executive Director
AGE
55
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
16. Nov 18 Buy BlackRock, Inc. Company 13. Nov 18 13. Nov 18 4,688,980 €0.39 €1,850,840
14. Nov 18 Sell BlackRock, Inc. Company 09. Nov 18 09. Nov 18 -17,733,000 €0.40 €-7,073,582
27. Oct 18 Sell Capital Research and Management Company Company 25. Oct 18 25. Oct 18 -407,265,861 €0.38 €-153,592,895
24. Oct 18 Sell Capital Research and Management Company Company 22. Oct 18 22. Oct 18 -193,755,000 €0.40 €-77,126,372
X
Management checks
We assess Agricultural Bank of China's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Agricultural Bank of China has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

EK7 News

Simply Wall St News

EK7 Company Info

Description

Agricultural Bank of China Limited provides corporate and retail banking products and services in the Mainland China and internationally. The company operates through Corporate Banking, Personal Banking, and Treasury Operations segments. Its deposit products include demand, call, foreign currency time, foreign currency call, time or demand optional, foreign exchange demand, foreign exchange call, savings, foreign exchange time, agreed-term, and negotiated deposits; and loans comprise housing, consumer, business, fixed asset, working capital, real estate, and entrusted syndicated loans, as well as trade finances, guarantees and commitments, and loans with custody of export rebates accounts. The company also provides credit card, debit card, payment and settlement, private banking, cash management, investment banking, custody, financial market, and financial institution services, as well as trading and wealth management services. In addition, it offers agro-related personal and corporate banking products and services; personal and online, telephone, mobile, self-service, and SMS banking services; financial leasing services; and life, health, and accident insurance, as well as reinsurance products. As of December 31, 2018, the company had 23,381 branches in China; and 13 overseas branches and 4 overseas representative offices. Agricultural Bank of China Limited was founded in 1951 and is based in Beijing, the People’s Republic of China.

Details
Name: Agricultural Bank of China Limited
EK7
Exchange: WBAG
Founded: 1951
HK$160,990,290,221
349,983,033,873
Website: http://www.abchina.com
Address: Agricultural Bank of China Limited
No. 69, Jianguomen Nei Avenue,
Dongcheng District,
Beijing,
100005,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1288 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 16. Jul 2010
OTCPK ACGB.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 16. Jul 2010
DB EK7 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 16. Jul 2010
SHSC 1288 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 16. Jul 2010
SZSC 1288 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 16. Jul 2010
WBAG EK7 Foreign Shares-Foreign Listed Wiener Boerse AG AT EUR 16. Jul 2010
OTCPK ACGB.Y ADR Pink Sheets LLC US USD 28. Sep 2010
SHSE 601288 Domestic Shares Shanghai Stock Exchange CN CNY 15. Jul 2010
XSSC 601288 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 15. Jul 2010
Number of employees
Current staff
Staff numbers
473,691
Agricultural Bank of China employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 23:35
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/04/26
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.