China Merchants Bank
Market Cap
CN¥1.4t
Last Updated
2021/05/18 09:51 UTC
Data Sources
Company Financials +
Executive Summary
China Merchants Bank Co., Ltd. provides various banking products and services. More Details
Rewards
Risk Analysis
No risks detected for 600036 from our risk checks.
Snowflake Analysis
Flawless balance sheet 6 star dividend payer.
Similar Companies
Share Price & News
How has China Merchants Bank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 600036 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: 600036's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
3.9%
600036
2.4%
CN Banks
3.2%
CN Market
1 Year Return
63.3%
600036
35.2%
CN Banks
26.0%
CN Market
Return vs Industry: 600036 exceeded the CN Banks industry which returned 35.2% over the past year.
Return vs Market: 600036 exceeded the CN Market which returned 26% over the past year.
Shareholder returns
| 600036 | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.9% | 2.4% | 3.2% |
| 30 Day | 12.5% | 8.1% | 3.6% |
| 90 Day | 2.6% | -1.6% | -5.1% |
| 1 Year | 68.3%63.3% | 40.9%35.2% | 27.9%26.0% |
| 3 Year | 105.1%87.6% | 48.7%33.7% | 27.6%21.6% |
| 5 Year | 279.8%222.9% | 92.1%62.6% | 37.2%28.3% |
Long-Term Price Volatility Vs. Market
How volatile is China Merchants Bank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is China Merchants Bank undervalued compared to its fair value and its price relative to the market?
19.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 600036 (CN¥55.95) is trading below our estimate of fair value (CN¥69.38)
Significantly Below Fair Value: 600036 is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: 600036 is poor value based on its PE Ratio (14.1x) compared to the CN Banks industry average (8.2x).
PE vs Market: 600036 is good value based on its PE Ratio (14.1x) compared to the CN market (30.5x).
Price to Earnings Growth Ratio
PEG Ratio: 600036 is good value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: 600036 is overvalued based on its PB Ratio (2x) compared to the CN Banks industry average (0.8x).
Future Growth
How is China Merchants Bank forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?
14.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 600036's forecast earnings growth (14.5% per year) is above the savings rate (3.3%).
Earnings vs Market: 600036's earnings (14.5% per year) are forecast to grow slower than the CN market (20.9% per year).
High Growth Earnings: 600036's earnings are forecast to grow, but not significantly.
Revenue vs Market: 600036's revenue (11.5% per year) is forecast to grow slower than the CN market (16.9% per year).
High Growth Revenue: 600036's revenue (11.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 600036's Return on Equity is forecast to be low in 3 years time (16.2%).
Past Performance
How has China Merchants Bank performed over the past 5 years?
10.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 600036 has high quality earnings.
Growing Profit Margin: 600036's current net profit margins (42.8%) are lower than last year (44.2%).
Past Earnings Growth Analysis
Earnings Trend: 600036's earnings have grown by 10.8% per year over the past 5 years.
Accelerating Growth: 600036's earnings growth over the past year (6.6%) is below its 5-year average (10.8% per year).
Earnings vs Industry: 600036 earnings growth over the past year (6.6%) exceeded the Banks industry 3.1%.
Return on Equity
High ROE: 600036's Return on Equity (13.4%) is considered low.
Financial Health
How is China Merchants Bank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: 600036's Assets to Equity ratio (11.4x) is moderate.
Allowance for Bad Loans: 600036 has a sufficient allowance for bad loans (427%).
Low Risk Liabilities: 83% of 600036's liabilities are made up of primarily low risk sources of funding.
Loan Level: 600036 has an appropriate level of Loans to Assets ratio (59%).
Low Risk Deposits: 600036's Loans to Deposits ratio (77%) is appropriate.
Level of Bad Loans: 600036 has an appropriate level of bad loans (1%).
Dividend
What is China Merchants Bank current dividend yield, its reliability and sustainability?
2.24%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 600036's dividend (2.24%) is higher than the bottom 25% of dividend payers in the CN market (0.47%).
High Dividend: 600036's dividend (2.24%) is in the top 25% of dividend payers in the CN market (1.87%)
Stability and Growth of Payments
Stable Dividend: 600036's dividends per share have been stable in the past 10 years.
Growing Dividend: 600036's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.6%), 600036's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 600036's dividends in 3 years are forecast to be well covered by earnings (32.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.1yrs
Average management tenure
CEO
Huiyu Tian (55 yo)
7.67yrs
Tenure
CN¥4,198,000
Compensation
Mr. Huiyu Tian, MPA has been the Chief Executive Officer and President of China Merchants Bank Co., Ltd. since May 2013. Mr. Tian has been an Executive Director at China Merchants Bank Co., Ltd. since Augu...
CEO Compensation Analysis
Compensation vs Market: Huiyu's total compensation ($USD651.97K) is above average for companies of similar size in the CN market ($USD358.00K).
Compensation vs Earnings: Huiyu's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: 600036's management team is considered experienced (2.1 years average tenure).
Board Members
Experienced Board: 600036's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
China Merchants Bank Co., Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: China Merchants Bank Co., Ltd.
- Ticker: 600036
- Exchange: SHSE
- Founded: 1987
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: CN¥1.406t
- Shares outstanding: 25.22b
- Website: https://www.cmbchina.com
Number of Employees
Location
- China Merchants Bank Co., Ltd.
- China Merchants Bank Tower
- 19th Floor
- Shenzhen
- Guangdong Province
- 518040
- China
Listings
Biography
China Merchants Bank Co., Ltd. provides various banking products and services. It operates through Wholesale Finance Business, Retail Finance Business, and Other Business segments. The company accepts dema...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/18 09:51 |
| End of Day Share Price | 2021/05/18 00:00 |
| Earnings | 2021/03/31 |
| Annual Earnings | 2020/12/31 |
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.