China Mobile
China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The last earnings update was 25 days ago. More info.
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941 Share Price and Events
7 Day Returns
1 Year Returns
941 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| China Mobile (941) | 0.6% | -4.2% | -13.5% | -1.2% | -14% | -6.1% |
| Asia Wireless Telecom | -0.2% | -5.4% | -13.9% | -9.1% | -25.7% | -24.4% |
| HK Market | -2.5% | -8.6% | -2.1% | -15.9% | 25.4% | 7.8% |
1 Year Return vs Industry and Market
- 941 outperformed the Wireless Telecom industry which returned -9.1% over the past year.
- 941 outperformed the Market in Hong Kong which returned -15.9% over the past year.
Value
Is China Mobile 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
China Mobile
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for China Mobile.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 23 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.3% |
| Perpetual Growth Rate | 10-Year HK Government Bond Rate | 2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6.7% |
| Wireless Telecom Unlevered Beta | Simply Wall St/ S&P Global | 0.32 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.319 (1 + (1- 25%) (0%)) |
0.544 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 6.65%) |
7.32% |
Discounted Cash Flow Calculation for SEHK:941 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for China Mobile is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (CNY, Millions) | Source |
Present Value Discounted (@ 7.32%) |
|
|---|---|---|---|
| 2019 | 102,054.82 | Analyst x5 | 95,091.28 |
| 2020 | 87,087.26 | Analyst x12 | 75,608.22 |
| 2021 | 97,838.89 | Analyst x7 | 79,146.75 |
| 2022 | 97,910.74 | Est @ 0.07% | 73,800.47 |
| 2023 | 98,549.43 | Est @ 0.65% | 69,213.39 |
| 2024 | 99,591.61 | Est @ 1.06% | 65,172.73 |
| 2025 | 100,927.29 | Est @ 1.34% | 61,540.21 |
| 2026 | 102,481.28 | Est @ 1.54% | 58,224.01 |
| 2027 | 104,201.64 | Est @ 1.68% | 55,161.91 |
| 2028 | 106,052.25 | Est @ 1.78% | 52,310.86 |
| Present value of next 10 years cash flows | CN¥685,269.84 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CN¥106,052.25 × (1 + 2%) ÷ (7.32% – 2%) |
CN¥2,033,392.39 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CN¥2,033,392.39 ÷ (1 + 7.32%)10 |
CN¥1,002,982.03 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CN¥685,269.84 + CN¥1,002,982.03 |
CN¥1,688,251.87 |
| Equity Value per Share (CNY) |
= Total value / Shares Outstanding
= CN¥1,688,251.87 / 20,475.48 |
CN¥82.45 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | CNY/HKD
(Reporting currency to currency of SEHK:941) |
1.135 |
| Value per Share (HKD) |
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥82.45 x 1.135 |
HK$93.56 |
| Value per share (HKD) | From above. | HK$93.56 |
| Current discount | Discount to share price of
HK$72.55
= -1 x (HK$72.55 - HK$93.56) / HK$93.56 |
22.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- China Mobile's share price is below the future cash flow value, and at a moderate discount (> 20%).
- China Mobile's share price is below the future cash flow value, but not 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 China Mobile's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
China Mobile's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in CNY | CN¥5.65 |
| SEHK:941 Share Price ** | SEHK (2019-05-17) in HKD | HK$72.55 |
| SEHK:941 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.881 | CN¥63.94 |
| Asia Wireless Telecom Industry PE Ratio | Median Figure of 8 Publicly-Listed Wireless Telecom Companies | 14.25x |
| Hong Kong Market PE Ratio | Median Figure of 1,476 Publicly-Listed Companies | 11.17x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of China Mobile.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:941 Share Price ÷ EPS (both in CNY) = 63.94 ÷ 5.65 |
11.32x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Mobile is good value based on earnings compared to the Asia Wireless Telecom industry average.
- China Mobile is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
China Mobile's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 11.32x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts |
3.2%per year |
| Asia Wireless Telecom Industry PEG Ratio | Median Figure of 6 Publicly-Listed Wireless Telecom Companies | 0.34x |
| Hong Kong Market PEG Ratio | Median Figure of 463 Publicly-Listed Companies | 0.79x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 11.32x ÷ 3.2% |
3.55x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Mobile is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
China Mobile's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in CNY | CN¥51.40 |
| SEHK:941 Share Price * | SEHK (2019-05-17) in HKD | HK$72.55 |
| SEHK:941 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.881 | CN¥63.94 |
| Asia Wireless Telecom Industry PB Ratio | Median Figure of 10 Publicly-Listed Wireless Telecom Companies | 1.52x |
| Hong Kong Market PB Ratio | Median Figure of 2,155 Publicly-Listed Companies | 0.97x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:941 Share Price ÷ Book Value per Share (both in CNY) = 63.94 ÷ 51.40 |
1.24x |
* Primary Listing of China Mobile.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Mobile is good value based on assets compared to the Asia Wireless Telecom industry average.
Value checks
We assess China Mobile's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Wireless Telecom industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Wireless Telecom industry average (and greater than 0)? (1 check) China Mobile has a total score of 3/6, 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.
Future Performance
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!
Earnings growth vs Low Risk Savings
- China Mobile's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- China Mobile's earnings growth is positive but not above the Hong Kong market average.
- China Mobile's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:941 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts | 3.2% |
| SEHK:941 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts | 3.7% |
| Asia Wireless Telecom Industry Earnings Growth Rate | Market Cap Weighted Average | 4.1% |
| Asia Wireless Telecom Industry Revenue Growth Rate | Market Cap Weighted Average | 4.1% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.4% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 10.7% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 23 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 885,765 | 277,796 | 135,907 | 1 |
| 2022-12-31 | 859,687 | 280,782 | 133,340 | 3 |
| 2021-12-31 | 806,300 | 285,666 | 124,744 | 17 |
| 2020-12-31 | 778,884 | 273,951 | 120,790 | 23 |
| 2019-12-31 | 753,540 | 256,921 | 118,597 | 23 |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 736,319 | 115,681 | |
| 2018-12-31 | 736,819 | 206,151 | 117,781 |
| 2018-09-30 | 738,714 | 117,179 | |
| 2018-06-30 | 743,475 | 225,566 | 117,245 |
| 2018-03-31 | 742,014 | 115,279 | |
| 2017-12-31 | 740,514 | 245,514 | 114,279 |
| 2017-09-30 | 735,221 | 112,741 | |
| 2017-06-30 | 726,941 | 248,067 | 110,844 |
| 2017-03-31 | 714,921 | 109,641 | |
| 2016-12-31 | 708,421 | 253,701 | 108,741 |
| 2016-09-30 | 690,835 | 111,239 | |
| 2016-06-30 | 692,995 | 249,760 | 111,775 |
*GAAP earnings excluding extraordinary items.
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 23 Analyst Estimates (S&P Global) | See Below |
All data from China Mobile Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 6.64 | 6.64 | 6.64 | 1.00 |
| 2022-12-31 | 6.51 | 6.64 | 6.31 | 3.00 |
| 2021-12-31 | 6.25 | 6.89 | 5.84 | 12.00 |
| 2020-12-31 | 5.88 | 6.62 | 4.37 | 19.00 |
| 2019-12-31 | 5.71 | 5.95 | 4.66 | 16.00 |
| Date (Data in CNY Millions) | EPS * |
|---|---|
| 2019-03-31 | 5.65 |
| 2018-12-31 | 5.75 |
| 2018-09-30 | |
| 2018-06-30 | 5.73 |
| 2018-03-31 | |
| 2017-12-31 | 5.58 |
| 2017-09-30 | |
| 2017-06-30 | 5.41 |
| 2017-03-31 | |
| 2016-12-31 | 5.31 |
| 2016-09-30 | |
| 2016-06-30 | 5.46 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess China Mobile's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
China Mobile has a total score of 1/6, 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.
Past Performance
How has China Mobile 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
Past Earnings growth analysis
- China Mobile's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
- China Mobile's 1-year earnings growth is less than its 5-year average (0.3% vs 0.8%)
- China Mobile's earnings growth has exceeded the Asia Wireless Telecom industry average in the past year (0.3% vs -1.4%).
Earnings and Revenue History
All data from China Mobile Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 736,319.00 | 115,681.00 | 123,898.00 | |
| 2018-12-31 | 736,819.00 | 117,781.00 | 123,898.00 | |
| 2018-09-30 | 738,714.00 | 117,179.00 | 122,573.00 | |
| 2018-06-30 | 743,475.00 | 117,245.00 | 122,226.00 | |
| 2018-03-31 | 742,014.00 | 115,279.00 | 122,573.00 | |
| 2017-12-31 | 740,514.00 | 114,279.00 | 122,573.00 | |
| 2017-09-30 | 735,221.00 | 112,741.00 | 112,452.00 | |
| 2017-06-30 | 726,941.00 | 110,844.00 | 116,854.00 | |
| 2017-03-31 | 714,921.00 | 109,641.00 | 112,452.00 | |
| 2016-12-31 | 708,421.00 | 108,741.00 | 112,452.00 | |
| 2016-09-30 | 690,835.00 | 111,239.00 | 79,483.00 | |
| 2016-06-30 | 692,995.00 | 111,775.00 | 120,682.00 | |
| 2016-03-31 | 682,535.00 | 108,639.00 | 79,483.00 | |
| 2015-12-31 | 668,335.00 | 108,539.00 | 100,151.00 | |
| 2015-09-30 | 683,614.00 | 111,138.00 | 19,138.00 | |
| 2015-06-30 | 672,519.00 | 108,812.00 | 80,049.00 | |
| 2015-03-31 | 652,468.50 | 104,147.00 | 65,743.50 | |
| 2014-12-31 | 651,509.00 | 109,218.00 | 93,211.00 | |
| 2014-09-30 | 651,631.50 | 112,762.00 | 106,973.50 | |
| 2014-06-30 | 651,754.00 | 116,306.00 | 120,736.00 | |
| 2014-03-31 | 640,965.50 | 118,999.00 | 113,581.00 | |
| 2013-12-31 | 630,177.00 | 121,692.00 | 106,426.00 | |
| 2013-09-30 | 620,324.50 | 125,946.00 | 100,845.50 | |
| 2013-06-30 | 610,472.00 | 130,200.00 | 95,265.00 | |
| 2013-03-31 | 596,153.50 | 129,737.00 | 94,124.50 | |
| 2012-12-31 | 581,835.00 | 129,274.00 | 92,984.00 | |
| 2012-09-30 | 567,110.50 | 128,031.50 | 96,708.50 | |
| 2012-06-30 | 552,386.00 | 126,789.00 | 100,433.00 |
*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.
- China Mobile has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- China Mobile used its assets more efficiently than the Asia Wireless Telecom industry average last year based on Return on Assets.
- China Mobile's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess China Mobile's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Wireless Telecom industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
China Mobile has a total score of 3/6, 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.
Health
How is China Mobile's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up China Mobile's finances.
The net worth of a company is the difference between its assets and liabilities.
- China Mobile is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- China Mobile's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- China Mobile has no debt, it does not need to be covered by short term assets.
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.
All data from China Mobile Company Filings, last reported 1 month ago.
| Date (Data in CNY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,055,809.00 | 0.00 | 425,614.00 |
| 2018-12-31 | 1,055,809.00 | 0.00 | 425,614.00 |
| 2018-09-30 | 1,035,027.00 | 0.00 | 468,770.00 |
| 2018-06-30 | 1,035,027.00 | 0.00 | 468,770.00 |
| 2018-03-31 | 988,881.00 | 0.00 | 465,637.00 |
| 2017-12-31 | 988,881.00 | 0.00 | 465,637.00 |
| 2017-09-30 | 1,021,528.00 | 5,000.00 | 478,069.00 |
| 2017-06-30 | 1,021,528.00 | 5,000.00 | 478,069.00 |
| 2017-03-31 | 982,138.00 | 10,550.00 | 457,607.00 |
| 2016-12-31 | 982,138.00 | 4,998.00 | 457,607.00 |
| 2016-09-30 | 960,006.00 | 4,996.00 | 465,619.00 |
| 2016-06-30 | 960,006.00 | 4,996.00 | 465,619.00 |
| 2016-03-31 | 920,368.00 | 4,995.00 | 422,339.00 |
| 2015-12-31 | 920,368.00 | 12,269.00 | 422,339.00 |
| 2015-09-30 | |||
| 2015-06-30 | 894,846.00 | 5,061.00 | 457,499.00 |
| 2015-03-31 | 888,983.00 | 16,302.00 | 429,319.00 |
| 2014-12-31 | 888,983.00 | 16,302.00 | 429,319.00 |
| 2014-09-30 | 888,983.00 | 16,302.00 | 429,319.00 |
| 2014-06-30 | 828,096.00 | 5,059.00 | 455,371.00 |
| 2014-03-31 | 828,096.00 | 5,059.00 | 455,371.00 |
| 2013-12-31 | 790,724.00 | 5,057.00 | 419,908.00 |
| 2013-09-30 | 790,724.00 | 5,057.00 | 419,908.00 |
| 2013-06-30 | 759,978.00 | 28,689.00 | 451,614.00 |
| 2013-03-31 | 759,978.00 | 28,689.00 | 451,614.00 |
| 2012-12-31 | 725,309.00 | 28,687.00 | 402,903.00 |
| 2012-09-30 | 725,309.00 | 28,687.00 | 402,903.00 |
| 2012-06-30 | 685,304.00 | 28,686.00 | 393,612.00 |
- China Mobile has no debt.
- China Mobile has no debt compared to 5 years ago when it was 0.6%.
- China Mobile has no debt, it does not need to be covered by operating cash flow.
- China Mobile has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess China Mobile's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) China Mobile has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
What is China Mobile'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
If you bought
HK$2,000 of
China Mobile
shares you are expected to receive
HK$84
in your first year as a dividend.
Dividend Amount
- China Mobile's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
- China Mobile's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment
Purchase China Mobile before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 23 Analyst Estimates (S&P Global) | See Below |
| Asia Wireless Telecom Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 4% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 968 Stocks | 3.6% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CN¥) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 4.22 | 1.00 |
| 2022-12-31 | 3.60 | 2.00 |
| 2021-12-31 | 3.04 | 17.00 |
| 2020-12-31 | 2.94 | 22.00 |
| 2019-12-31 | 2.83 | 20.00 |
| Date (Data in CN¥) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-21 | 2.681 | 4.122 |
| 2018-08-09 | 2.901 | 4.398 |
| 2018-03-22 | 2.559 | 4.496 |
| 2017-10-04 | 2.297 | 3.707 |
| 2017-04-12 | 2.385 | 3.296 |
| 2017-04-11 | 2.422 | 3.229 |
| 2017-03-23 | 2.385 | 3.129 |
| 2016-04-12 | 2.267 | 3.061 |
| 2016-04-11 | 2.205 | 3.082 |
| 2016-03-17 | 2.205 | 3.107 |
| 2015-10-05 | 2.370 | 3.318 |
| 2015-04-08 | 2.178 | 2.688 |
| 2015-03-25 | 2.206 | 2.698 |
| 2015-03-19 | 2.178 | 2.715 |
| 2014-08-14 | 2.427 | 3.194 |
| 2014-03-20 | 2.628 | 4.350 |
| 2013-08-15 | 2.705 | 4.360 |
| 2013-03-14 | 2.689 | 4.165 |
| 2012-08-16 | 2.618 | 3.801 |
| 2012-03-29 | 2.730 | 3.943 |
| 2012-03-16 | 2.700 | 3.995 |
| 2012-03-15 | 2.730 | 3.977 |
| 2011-08-18 | 2.576 | 4.113 |
| 2011-06-09 | 2.470 | 4.126 |
| 2011-04-08 | 2.595 | 4.362 |
| 2011-03-16 | 2.595 | 4.307 |
| 2010-04-07 | 2.471 | 3.677 |
| 2009-08-20 | 2.228 | 3.369 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
China Mobile's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
Income/ dividend checks
We assess China Mobile's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can China Mobile afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) China Mobile 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.
Management
CEO
| COMPENSATION | CN¥932,000 |
| AGE | 59 |
| TENURE AS CEO | 8.8 years |
CEO Bio
Mr. Yue Li has been the Chief Executive Officer at China Mobile Limited since August 19, 2010 and has been its President since August 2010 and its Director since March 2003. Mr. Li serves as the President and Director at China Mobile Communication Company Limited. Mr. Li started his career in 1976. He previously served as Non-Executive Director at Phoenix Satellite Television Holdings Ltd. He served as Chief Executive Officer of China Mobile Hong Kong Company Limited and serves as its Executive Director & President of China Mobile Communications Corporation. Mr. Li served as Deputy Director General and Chief Engineer of Tianjin Long-Distance Telecommunications Bureau, Deputy Director General of Tianjin Posts and Telecommunications Administration, President of Tianjin Mobile Communications Company, Deputy Head of the preparatory team and Vice President of CMCC, Chairman of Aspire, non-executive director of Phoenix Satellite Television Holdings Limited and Chairman of Union Mobile Pay Limited. He is a professor-level senior engineer and had won many national, provincial and ministerial level scientific and technological progress awards. Mr. Li has been engaging in telecommunications network operations and maintenance, planning and construction, operational management, development strategies and has many years of experience in the telecommunications industry. Mr. Li holds a Bachelor's degree in telephone exchange from the Correspondence College of Beijing University of Posts and Telecommunications, a Master's degree in business administration from Tianjin University and a doctoral degree in business administration from Hong Kong Polytechnic University.
CEO Compensation
- Yue's compensation has been consistent with company performance over the past year.
- Yue's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the China Mobile management team in years:
- The average tenure for the China Mobile management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Yue Li
CEO & Executive Director
CN¥932K
59
8.8 yrs
Xin Dong
VP, CFO & Executive Director
CN¥1M
51
2.2 yrs
Jie Yang
Executive Chairman
55
Grace Wong
Company Secretary
14 yrs
Tiger Lin
Chairman of China Mobile International Ltd and CEO of China Mobile International Ltd
Board of Directors Tenure
Average tenure and age of the China Mobile board of directors in years:
- The tenure for the China Mobile board of directors is about average.
Board of Directors
Yue Li
CEO & Executive Director
CN¥932K
59
16.2 yrs
Xin Dong
VP, CFO & Executive Director
CN¥1M
51
2.2 yrs
Jie Yang
Executive Chairman
55
0.2 yrs
Tiger Lin
Chairman of China Mobile International Ltd and CEO of China Mobile International Ltd
Moses Cheng
Independent Non-Executive Director
CN¥460K
68
16.2 yrs
Paul Chow
Independent Non Executive Director
CN¥455K
72
6 yrs
Stephen Yiu
Independent Non-Executive Director
CN¥255K
57
2.2 yrs
Frank Wong
70
16.8 yrs
Qiang Yang
Independent Non-Executive Director
56
1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess China Mobile's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) China Mobile 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.
News
Simply Wall St News
Does China Mobile Limited's (HKG:941) CEO Pay Matter?
See our latest analysis for China Mobile How Does Yue Li's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that China Mobile Limited has a market cap of HK$1.5t, and is paying total annual CEO compensation of CN¥932k. … China Mobile Limited is currently paying its CEO below what is normal for large companies.
Simply Wall St - – Full articleWhat Can We Make Of China Mobile Limited’s (HKG:941) High Return On Capital?
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleHere's What China Mobile Limited's (HKG:941) P/E Ratio Is Telling Us
We'll apply a basic P/E ratio analysis to China Mobile Limited's (HKG:941), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 11.05 = CN¥63.56 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥5.75
Simply Wall St - – Full articleKnow This Before Buying China Mobile Limited (HKG:941) For Its Dividend
Dividend paying stocks like China Mobile Limited (HKG:941) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … In this case, China Mobile likely looks attractive to investors, given its 4.1% dividend yield and a payment history of over ten years. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.
Simply Wall St - – Full articleWith 3.1% Earnings Growth, Did China Mobile Limited (HKG:941) Outperform The Industry?
Today I will examine China Mobile Limited's (HKG:941) latest earnings update (31 December 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of 941's industry performed. … Check out our latest analysis for China Mobile? … 941's trailing twelve-month earnings (from 31 December 2018) of CN¥118b has.
Simply Wall St - – Full articleWhat Should We Expect From China Mobile Limited's (HKG:941) Earnings Over The Next Few Years?
China Mobile Limited's (HKG:941) released its most recent earnings update in December 2018, whicha
Simply Wall St - – Full articleChina Mobile Limited (HKG:941) Delivered A Better ROE Than Its Industry
By way of learning-by-doing, we'll look at ROE to gain a better understanding of China Mobile Limited (HKG:941). … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleIs China Mobile Limited (HKG:941) Potentially Underrated?
In the case of China Mobile Limited (HKG:941), there's. … that has been able to sustain great financial health over the past … If you're interested in understanding beyond my broad commentary,
Simply Wall St - – Full articleWhat Kind Of Shareholders Own China Mobile Limited (HKG:941)?
If you want to know who really controls China Mobile Limited (HKG:941), then you'll have to look at the makeup of its share registry. … Generally speaking, as a company grows, institutions will increase their ownership. … China Mobile is a pretty big company.
Simply Wall St - – Full articleIs China Mobile Limited (HKG:941) A Cash Cow?
China Mobile Limited (HKG:941) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Today we will examine China Mobile’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … China Mobile’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure
Simply Wall St - – Full articleCompany Info
Description
China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others. It also provides wireless Internet service, as well as digital applications comprising music, video, reading, gaming, and animation; wireline broadband services; and wireline voice services. In addition, it offers dedicated line and IDC services to corporate customers in a range of industry sectors; and basic corporate communication products comprising corporate VPMN and SMS, and tailor made solutions. Further, the company provides international telecommunications services, which includes IDD, roaming, Internet, MNC, and value added business services. Additionally, it offers telecommunications network planning, design, and consulting services; roaming clearance, IT system operation, and technology support services; technology platform development and maintenance services; mobile data, and system integration and development services; network construction and maintenance, network planning and optimizing, and training services; electronic communication products design and sale of related products; non-banking financial services; computer hardware and software research and development services; call center services; e-payment, e-commerce, and Internet finance services; and mobile Internet digital content services, as well as operates a network and business coordination center. The company serves 925 million mobile customers and 157 million wireline broadband customers. The company was formerly known as China Mobile (Hong Kong) Limited and changed its name to China Mobile Limited in May 2006. The company was incorporated in 1997 and is based in Central, Hong Kong. China Mobile Limited is a subsidiary of China Mobile Hong Kong (BVI) Limited.
Details
| Name: | China Mobile Limited |
| 941 | |
| Exchange: | SEHK |
| Founded: | 1997 |
| HK$1,485,496,284,177 | |
| 20,475,482,897 | |
| Website: | http://www.chinamobileltd.com |
| Address: |
China Mobile Limited The Center, 60th Floor, Central, Hong Kong |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 941 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 23. Oct 1997 | |
| OTCPK | CHLK.F | Ordinary Shares | Pink Sheets LLC | US | USD | 23. Oct 1997 | |
| DB | CTM | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 23. Oct 1997 | |
| SWX | CHT | Ordinary Shares | SIX Swiss Exchange | CH | CHF | 23. Oct 1997 | |
| SHSC | 941 | Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 23. Oct 1997 | |
| SZSC | 941 | Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 23. Oct 1997 | |
| NYSE | CHL | SPONSORED ADR | New York Stock Exchange | US | USD | 22. Oct 1997 | |
| DB | CTMA | SPONSORED ADR | Deutsche Boerse AG | DE | EUR | 22. Oct 1997 | |
| LSE | 0HX8 | SPONSORED ADR | London Stock Exchange | GB | USD | 22. Oct 1997 | |
| BMV | CHL N | SPONSORED ADR | Bolsa Mexicana de Valores | MX | MXN | 22. Oct 1997 |
Number of employees
Current staff
Industry
| Wireless Telecommunication Services | |
| Telecom |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/19 12:40 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/14 |
| Last earnings filing: | 2019/04/24 |
| 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.
