China Merchants Securities Co Ltd

Chart & Performance

D1W1MN

P/E

14.26

P/S

6.31

EPS

1.04

Div Yield, %

1.21%

Shrs. gr., 5y

-2.52%

Rev. gr., 5y

13.73%

Revenues

18.28b

+4.13%

Net income

8.76b

+8.60%

CFO

27.10b

-56.64%

Dividend

Sep 12, 20240.111 HKD/sh

Profile

China Merchants Securities Co., Ltd. provides securities investment and trading services to corporate, institutional, and individual clients in the People's Republic of China. The company operates through Wealth Management and Institutional Business, Investment Banking, Investment Management, and Investment and Trading segments. It offers investment consultancy, investment portfolio recommendation, sale of products, and assets allocation; capital-based intermediary services, including margin financing, securities lending, and stock pledge repo and stock repurchase transactions; investment research, sales and trading, prime brokerage, and other services for funds and insurance companies; and trades in stocks, funds, bonds, futures, and other derivatives. The company also provides investment banking services, including domestic and international equity financing, debt financing, equity and bond underwriting, structured financing, over the counter (OTC) listing, merger and acquisition, financial advisory, and other services; and investment management services comprising collective asset management, separately managed account, specialized asset management, and equity investment fund management. In addition, it engages in the trading of equity and fixed-income securities, commodities, foreign exchange, alternative investment, and other derivatives, as well as offers OTC financial products, market maker services, and insurance agency services. The company was founded in 1991 and is based in Shenzhen, the People's Republic of China.

URL

https://www.cmschina.com/

IPO date

Nov 17, 2009

Employees

12,258

Domiciled in

Incorporated in

Valuation

Order:

Title CNY in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title CNY in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	18,282,118 4.13%	17,557,519 -36.91%	27,828,639 19.77%
Cost of revenue	5,855,371	12,750,934	15,489,128
Unusual Expense (Income)
NOPBT	12,426,747	4,806,585	12,339,511
NOPBT Margin	67.97%	27.38%	44.34%
Operating Taxes	526,606	452,454	2,046,045
Tax Rate	4.24%	9.41%	16.58%
NOPAT	11,900,141	4,354,130	10,293,466
Net income	8,763,959 8.60%	8,070,243 -30.70%	11,645,065 22.69%
Dividends	(8,174,412)	(4,696,124)	(3,800,382)
Dividend yield	6.89%	4.06%	2.48%
Proceeds from repurchase of equity
BB yield
Debt
Debt current		234,315,501	203,063,281
Long-term debt	1,813,557	184,500,843	188,528,671
Deferred revenue		176,755	116,144
Other long-term liabilities	90,596,458	(159,147,162)	(608,000)
Net debt	(628,869,271)	(131,383,111)	(155,354,960)
Cash flow
Cash from operating activities	27,103,726	62,503,842
CAPEX	(608,244)
Cash from investing activities	(26,445,291)		13,813,406
Cash from financing activities	7,701,273		35,718,314
FCF	222,060,844	(205,807,842)	10,314,328
Balance
Cash	244,327,467	230,936,509	225,639,930
Long term investments	386,355,360	319,262,947	321,306,982
Excess cash	629,768,722	549,321,580	545,555,480
Stockholders' equity	42,265,549	88,689,466	84,962,099
Invested Capital	609,493,719	730,988,155	481,620,794
ROIC	1.78%	0.72%	2.25%
ROCE	1.91%	0.59%	2.18%
EV
Common stock shares outstanding	8,696,527	8,696,526	8,696,527
Price	13.64 2.56%	13.30 -24.65%	17.65 -24.38%
Market cap	118,620,626 2.56%	115,663,796 -24.65%	153,493,698 -19.93%
EV	(510,173,140)	13,157,944	25,958,830
EBITDA	13,192,993	5,345,331	12,862,263
EV/EBITDA		2.46	2.02
Interest	9,523,425	9,326,511	9,649,572
Interest/NOPBT	76.64%	194.04%	78.20%