Stocktoria
China Merchants Bank Co., Ltd. 3968.HK
China Merchants Bank Co., Ltd. statistics & valuation
Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥188.57); a green figure means the price is below it.
Profitability & efficiency
Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).
P / E vs its own history
China Merchants Bank Co., Ltd. trades at about 8.4× earnings — near its 10-year norm (10-year range 5.1×–9.7×, median 8.4×).
Shaded band = 10-year range (5.1×–9.7×); dot = today's 8.4×.
Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.
Key ratios (by fiscal year)
| Ratio | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Net margin | 45.2% | 44.3% | 43.5% | 40.3% |
| FCF margin | 127.5% | 123.1% | 97.3% | 156.4% |
| Return on assets | 1.1% | 1.2% | 1.3% | 1.4% |
| Return on equity | 11.8% | 12.1% | 13.6% | 14.6% |
Computed from company filings · HK · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.