XSHG600999
Market cap22bUSD
Dec 20, Last price
19.34CNY
1D
-0.15%
1Q
28.50%
Jan 2017
18.36%
IPO
63.07%
Name
China Merchants Securities Co Ltd
Chart & Performance
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.
Valuation
Title CNY in thousands, except ratios and share amounts | FY | FY | FY | FY | FY | FY | FY | FY | FY | FY |
---|---|---|---|---|---|---|---|---|---|---|
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% |