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China Mobile

SEHK:941
Snowflake Description

Flawless balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
941
SEHK
HK$1,528B
Market Cap
  1. Home
  2. HK
  3. Telecom
Company description

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The last earnings update was 13 days ago. More info.


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941 Share Price and Events
7 Day Returns
-2%
SEHK:941
-2.2%
Asia Wireless Telecom
-1.3%
HK Market
1 Year Returns
2.8%
SEHK:941
-3.2%
Asia Wireless Telecom
-5.7%
HK Market
941 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Mobile (941) -2% -8.1% -8.6% 2.8% -18.9% 0.6%
Asia Wireless Telecom -2.2% -8% -8.8% -3.2% -22.2% -6.7%
HK Market -1.3% 3.2% 9.8% -5.7% 27% 20.8%
1 Year Return vs Industry and Market
  • 941 outperformed the Wireless Telecom industry which returned -3.2% over the past year.
  • 941 outperformed the Market in Hong Kong which returned -5.7% over the past year.
Price Volatility
941
Industry
5yr Volatility vs Market

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.
Raw Data

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

SEHK:941 Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for SEHK:941
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 0.34
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.344 (1 + (1- 25%) (0%))
0.561
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.

SEHK:941 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.32%)
2019 93,234.00 Analyst x3 86,872.34
2020 86,226.60 Analyst x13 74,861.00
2021 88,106.83 Analyst x8 71,274.01
2022 26,152.00 Analyst x1 19,712.14
2023 48,653.00 Analyst x1 34,170.05
2024 39,387.79 Est @ -19.04% 25,775.36
2025 34,373.91 Est @ -12.73% 20,959.42
2026 31,517.52 Est @ -8.31% 17,906.46
2027 29,873.59 Est @ -5.22% 15,814.38
2028 28,962.37 Est @ -3.05% 14,285.85
Present value of next 10 years cash flows CN¥381,631.01
SEHK:941 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥28,962.37 × (1 + 2%) ÷ (7.32% – 2%)
CN¥555,309.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥555,309.90 ÷ (1 + 7.32%)10
CN¥273,909.68
SEHK:941 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥381,631.01 + CN¥273,909.68
CN¥655,540.68
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥655,540.68 / 20,475.48
CN¥32.02
SEHK:941 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:941)
1.167
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥32.02 x 1.167
HK$37.35
Value per share (HKD) From above. HK$37.35
Current discount Discount to share price of HK$74.15
= -1 x (HK$74.15 - HK$37.35) / HK$37.35
-98.5%

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

  • The current share price of China Mobile is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
SEHK:941 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥5.75
SEHK:941 Share Price ** SEHK (2019-04-25) in HKD HK$74.15
SEHK:941 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.857 CN¥63.56
Asia Wireless Telecom Industry PE Ratio Median Figure of 8 Publicly-Listed Wireless Telecom Companies 14.09x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 12.09x

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

** Primary Listing of China Mobile.

SEHK:941 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:941 Share Price ÷ EPS (both in CNY)

= 63.56 ÷ 5.75

11.05x

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 good value 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?
Raw Data
SEHK:941 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
2.7%per year
Asia Wireless Telecom Industry PEG Ratio Median Figure of 6 Publicly-Listed Wireless Telecom Companies 0.38x
Hong Kong Market PEG Ratio Median Figure of 465 Publicly-Listed Companies 0.86x

*Line of best fit is calculated by linear regression .

SEHK:941 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.05x ÷ 2.7%

4.08x

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?
Raw Data
SEHK:941 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥51.40
SEHK:941 Share Price * SEHK (2019-04-25) in HKD HK$74.15
SEHK:941 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.857 CN¥63.56
Asia Wireless Telecom Industry PB Ratio Median Figure of 10 Publicly-Listed Wireless Telecom Companies 1.53x
Hong Kong Market PB Ratio Median Figure of 2,150 Publicly-Listed Companies 1.02x
SEHK:941 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:941 Share Price ÷ Book Value per Share (both in CNY)

= 63.56 ÷ 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.
X
Value checks
We assess China Mobile'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 Wireless Telecom 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 Wireless Telecom industry average (and greater than 0)? (1 check)
  5. 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

 How is China Mobile expected to perform in the next 1 to 3 years based on estimates from 23 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
2.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Mobile expected to grow at an attractive rate?
  • 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
Raw Data
SEHK:941 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:941 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 2.7%
SEHK:941 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts 3.4%
Asia Wireless Telecom Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Asia Wireless Telecom Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.2%

*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
SEHK:941 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:941 Future Estimates Data
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
2021-12-31 810,584 288,834 127,297 15
2020-12-31 781,225 274,680 121,992 23
2019-12-31 751,067 262,999 119,299 20
SEHK:941 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
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
2016-03-31 682,535 108,639

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Mobile's earnings are expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
  • China Mobile's revenue is expected to grow by 3.4% 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
SEHK:941 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months 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 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:941 Future Estimates Data
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 6.39 8.26 5.84 11.00
2020-12-31 5.96 7.69 4.37 19.00
2019-12-31 5.81 7.17 4.66 18.00
SEHK:941 Past Financials Data
Date (Data in CNY Millions) EPS *
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
2016-03-31

*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.
  • China Mobile is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China Mobile'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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
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
Below we compare China Mobile's growth in the last year to its industry (Wireless Telecom).
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.
  • China Mobile's year on year earnings growth rate has been positive over the past 5 years.
  • China Mobile's 1-year earnings growth exceeds its 5-year average (3.1% vs 0.2%)
  • China Mobile's earnings growth has exceeded the Asia Wireless Telecom industry average in the past year (3.1% vs -1.4%).
Earnings and Revenue History
China Mobile'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 China Mobile Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:941 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
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).
X
Past performance checks
We assess China Mobile'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 Wireless Telecom 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.
China Mobile has a total score of 4/6, 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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of China Mobile'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.
  • 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.
Raw Data

All data from China Mobile Company Filings, last reported 3 months ago.

SEHK:941 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
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.
X
Financial health checks
We assess China Mobile'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. China Mobile 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.

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
Dividend payments
4.22%
Current annual income from China Mobile dividends. Estimated to be 4.68% next year.
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
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?
  • China Mobile's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.97%).
  • China Mobile's dividend is below the markets top 25% of dividend payers in Hong Kong (5.39%).
Upcoming dividend payment

Purchase China Mobile before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
SEHK:941 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 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 966 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

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

SEHK:941 Future Dividends Estimate Data
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 3.05 15.00
2020-12-31 2.94 22.00
2019-12-31 2.81 19.00
SEHK:941 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-21 2.681 4.008
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 (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess China Mobile'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 China Mobile afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

 What is the CEO of China Mobile'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
Yue Li
COMPENSATION CN¥932,000
AGE 59
TENURE AS CEO 8.7 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:

8.7
Average Tenure
55
Average Age
  • 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

TITLE
CEO & Executive Director
COMPENSATION
CN¥932K
AGE
59
TENURE
8.7 yrs

Xin Dong

TITLE
VP, CFO & Executive Director
COMPENSATION
CN¥1M
AGE
51
TENURE
2.1 yrs

Jie Yang

TITLE
Executive Chairman
AGE
55

Grace Wong

TITLE
Company Secretary
TENURE
13.9 yrs

Tiger Lin

TITLE
Chairman of China Mobile International Ltd and CEO of China Mobile International Ltd

Zhao Yi

TITLE
Executive Officer
Board of Directors Tenure

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

4
Average Tenure
58
Average Age
  • The tenure for the China Mobile board of directors is about average.
Board of Directors

Yue Li

TITLE
CEO & Executive Director
COMPENSATION
CN¥932K
AGE
59
TENURE
16.1 yrs

Xin Dong

TITLE
VP, CFO & Executive Director
COMPENSATION
CN¥1M
AGE
51
TENURE
2.1 yrs

Jie Yang

TITLE
Executive Chairman
AGE
55
TENURE
0.1 yrs

Tiger Lin

TITLE
Chairman of China Mobile International Ltd and CEO of China Mobile International Ltd

Moses Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥460K
AGE
68
TENURE
16.1 yrs

Paul Chow

TITLE
Independent Non Executive Director
COMPENSATION
CN¥455K
AGE
72
TENURE
5.9 yrs

Stephen Yiu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥255K
AGE
57
TENURE
2.1 yrs

Frank Wong

TITLE
AGE
70
TENURE
16.7 yrs

Qiang Yang

TITLE
Independent Non-Executive Director
AGE
55
TENURE
0.9 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 (HK$) Value (HK$)
X
Management checks
We assess China Mobile'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. 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

Know 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 -

With 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 -

What 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 -

China 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 -

Is 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 -

What 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 -

Is 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 -

China Mobile Limited (HKG:941) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What To Know Before Buying China Mobile Limited (HKG:941) For Its Dividend

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, China Mobile Limited (HKG:941) has been paying a dividend to shareholders. … Let's take a look at China Mobile in more detail.

Simply Wall St -

Here's What China Mobile Limited's (HKG:941) P/E Ratio Is Telling Us

China Mobile has a P/E ratio of 11.66, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 11.66 = CN¥66.74 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥5.72

Simply Wall St -

Company 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$1,528,494,798,261
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 SPON ADR REP 5 ORD HKD0.10 New York Stock Exchange US USD 22. Oct 1997
DB CTMA SPON ADR REP 5 ORD HKD0.10 Deutsche Boerse AG DE EUR 22. Oct 1997
LSE 0HX8 SPON ADR REP 5 ORD HKD0.10 London Stock Exchange GB USD 22. Oct 1997
BMV CHL N SPON ADR REP 5 ORD HKD0.10 Bolsa Mexicana de Valores MX MXN 22. Oct 1997
SGX K3PD SPON ADR REP 5 ORD HKD0.10 Singapore Exchange SG USD 22. Oct 1997
Number of employees
Current staff
Staff numbers
459,152
China Mobile employees.
Industry
Wireless Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 13:16
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/25
Last earnings filing: 2019/04/12
Last earnings reported: 2018/12/31
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.