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China Merchants Bank Co., Ltd.

HKD 51.2 -$2.35 (-4.39%)

HKSE · 15 Sep 2026 08:08 UTC

Previous Close

HKD 52.75

Day Range

HKD 51.1HKD 52.8

Year Range

HKD 43.34HKD 53.7

Market Cap

1.29T

AVG Volume

13.29M

Trailing/Forward PE

7.04/7.1

PEG ratio

1.7

Dividend Yield

4.91%

Next Earnings Date

2026-10-23

Primary Exchange

Hong Kong Stock Exchange

Revenue (CNY)

3968.HK Revenue (CNY) by year
Period	Revenue (CNY)
2025	465.4B
2024	496.3B
2023	496.03B
2022	475.95B
2021	448.18B
2020	408.81B
2019	387.18B
2018	356.93B
2017	317.1B
2016	289.44B

Net Income (CNY)

3968.HK Net Income (CNY) by year
Period	Net Income (CNY)
2025	150.17B
2024	148.39B
2023	146.6B
2022	138.01B
2021	119.92B
2020	97.34B
2019	92.87B
2018	80.56B
2017	70.15B
2016	62.08B

Operating Income (CNY)

3968.HK Operating Income (CNY) by year
Period	Operating Income (CNY)
2025	178.98B
2024	178.65B
2023	176.62B
2022	165.11B
2021	148.17B
2020	122.44B
2019	117.13B
2018	106.5B
2017	90.68B
2016	78.96B

EBITDA (CNY)

3968.HK EBITDA (CNY) by year
Period	EBITDA (CNY)
2025	176.04B
2024	186.8B
2023	183.81B
2022	165.11B
2021	148.17B
2020	122.44B
2019	117.13B
2018	106.5B
2017	90.68B
2016	78.96B

Cash Flows (CNY)

3968.HK Cash Flows (CNY) by year
Period	Cash Flows (CNY)
2025	402.47B
2024	412.09B
2023	327.59B
2022	535.25B
2021	157.89B
2020	402.2B
2019	-19.53B
2018	-53.21B
2017	-22B
2016	-138.12B

EPS (CNY)

3968.HK EPS (CNY) by year
Period	EPS (CNY)
2025	5.89
2024	5.81
2023	5.68
2022	5.41
2021	4.74
2020	3.83
2019	3.66
2018	3.17
2017	2.78
2016	2.46

Expenses (CNY)

3968.HK Expenses (CNY) by year
Period	Expenses (CNY)
2025	112.16B
2024	38.55B
2023	42.14B
2022	105.49B
2021	125.36B
2020	34.54B
2019	37.88B
2018	24.56B
2017	21.96B
2016	23.19B

Cash & Debt (CNY)

3968.HK Cash & Debt (CNY) by year
Period	Cash & Debt (CNY)
2025	1.97T
2024	2.1T
2023	1.07T
2022	960.91B
2021	846.62B
2020	876.67B
2019	985.54B
2018	913.59B
2017	857.27B
2016	306.25B

Debt ratios

3968.HK Debt ratios by year
Period	Debt ratios
2025	-2.2
2024	-2.38
2023	-1.03
2022	-0.96
2021	-0.44
2020	-0.85
2019	-0.58
2018	-0.81

Margins

3968.HK Margins by year
Period	Margins
2025	68.96%
2024	67.16%
2023	67.55%
2022	71.61%
2021	72.52%
2020	70.06%
2019	69.03%
2018	69.03%
2017	69.36%
2016	72.05%

Return on Capital

3968.HK Return on Capital by year
Period	Return on Capital
2025	11.72%
2024	12.03%
2023	13.5%
2022	14.46%
2021	13.85%
2020	13.33%
2019	15.03%
2018	14.82%
2017	14.51%
2016	15.39%

Shares Outstanding

3968.HK Shares Outstanding by year
Period	Shares Outstanding
2025	26.35B
2024	25.22B
2023	23.97B
2022	25.22B
2021	25.22B
2020	24.92B
2019	24.91B
2018	24.89B
2017	25.06B
2016	25.24B

Dividends (CNY)

3968.HK Dividends (CNY) by year
Period	Dividends (CNY)
2026	2.27
2025	2.19
2024	2.16
2023	1.89
2022	1.78
2021	1.5
2020	1.31
2019	1.07
2018	1.01
2017	0.84

Book Value Per Share (CNY)

3968.HK Book Value Per Share (CNY) by year
Period	Book Value Per Share (CNY)
2025	48.62
2024	48.91
2023	45.29
2022	37.84
2021	34.33
2020	29.3
2019	24.8
2018	21.84
2017	19.29
2016	15.98

Total Assets (CNY)

3968.HK Total Assets (CNY) by year
Period	Total Assets (CNY)
2025	13.07T
2024	12.15T
2023	11.03T
2022	10.14T
2021	9.25T
2020	8.36T
2019	7.42T
2018	6.75T
2017	6.3T
2016	5.94T

PE Ratio

3968.HK PE Ratio by year
Period	PE Ratio
Sep 26	7.55
Sep 26	7.43
Sep 26	7.64
Aug 26	7.04
Aug 26	7.09
Aug 26	6.89
Aug 26	7.01
Jul 26	7.33
Jul 26	7.04
Jul 26	6.81
Jul 26	6.61
Jul 26	6.39
Jun 26	6.8
Jun 26	7.15
Jun 26	7.48
Jun 26	7.3
May 26	7.14
May 26	7.04
May 26	7.16
May 26	7.2
Apr 26	7.2
Apr 26	7.72
Apr 26	7.72
Apr 26	7.65
Apr 26	7.66
Mar 26	7.31
Mar 26	7.27
Mar 26	7.35
Mar 26	7.28
Feb 26	7.25
Feb 26	7.35
Feb 26	7.3
Feb 26	7.4
Jan 26	7.21
Jan 26	7.02
Jan 26	7.19
Jan 26	7.6
Jan 26	8.14
Dec 25	7.89
Dec 25	7.83
Dec 25	7.88
Dec 25	8.27
Nov 25	8.06
Nov 25	7.94
Nov 25	8.03
Nov 25	7.96
Oct 25	7.55
Oct 25	7.72
Oct 25	7.63
Oct 25	7.19
Oct 25	7.23
Sep 25	7.15
Sep 25	7.37
Sep 25	7.53
Sep 25	7.4
Aug 25	7.49
Aug 25	7.57
Aug 25	7.65
Aug 25	7.86
Aug 25	7.89
Jul 25	8.21
Jul 25	8.1
Jul 25	7.99
Jul 25	8.09
Jun 25	8.56
Jun 25	8.23
Jun 25	8.06
Jun 25	7.82
May 25	7.63
May 25	7.74
May 25	7.7
May 25	7.27
May 25	6.91
Apr 25	7.06
Apr 25	6.93
Apr 25	6.92
Apr 25	7.12
Mar 25	7.37
Mar 25	7.81
Mar 25	8
Mar 25	7.67
Feb 25	7.36
Feb 25	7.23
Feb 25	7.29
Feb 25	6.89
Jan 25	6.86
Jan 25	6.88
Jan 25	6.7
Jan 25	6.19
Jan 25	6.24
Dec 24	6.46
Dec 24	6.26
Dec 24	6.11
Dec 24	5.99
Nov 24	5.68
Nov 24	5.65
Nov 24	5.87
Nov 24	6.25
Nov 24	6.06
Oct 24	6.29

Free Cash Flow Yield

3968.HK Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	37.87%
Sep 26	38.46%
Sep 26	37.42%
Aug 26	40.63%
Aug 26	40.32%
Aug 26	41.48%
Aug 26	40.81%
Jul 26	39%
Jul 26	40.58%
Jul 26	41.99%
Jul 26	43.24%
Jul 26	44.72%
Jun 26	39.42%
Jun 26	37.5%
Jun 26	35.83%
Jun 26	36.71%
May 26	37.56%
May 26	38.08%
May 26	37.42%
May 26	37.23%
Apr 26	37.21%
Apr 26	34.74%
Apr 26	34.72%
Apr 26	35.04%
Apr 26	34.99%
Mar 26	26.66%
Mar 26	26.83%
Mar 26	26.54%
Mar 26	26.77%
Feb 26	26.9%
Feb 26	26.53%
Feb 26	26.71%
Feb 26	26.37%
Jan 26	27.05%
Jan 26	27.8%
Jan 26	27.13%
Jan 26	25.66%
Jan 26	23.96%
Dec 25	38.36%
Dec 25	38.65%
Dec 25	38.43%
Dec 25	36.6%
Nov 25	37.56%
Nov 25	38.11%
Nov 25	37.69%
Nov 25	38.04%
Oct 25	40.07%
Oct 25	39.2%
Oct 25	39.67%
Oct 25	42.08%
Oct 25	41.89%
Sep 25	48.92%
Sep 25	47.47%
Sep 25	46.44%
Sep 25	47.25%
Aug 25	46.68%
Aug 25	46.23%
Aug 25	45.71%
Aug 25	44.51%
Aug 25	44.34%
Jul 25	42.62%
Jul 25	43.17%
Jul 25	43.78%
Jul 25	43.25%
Jun 25	32.43%
Jun 25	33.74%
Jun 25	34.45%
Jun 25	35.49%
May 25	36.39%
May 25	35.86%
May 25	36.07%
May 25	38.18%
May 25	40.17%
Apr 25	39.31%
Apr 25	40.08%
Apr 25	40.12%
Apr 25	39.01%
Mar 25	51.69%
Mar 25	48.77%
Mar 25	47.61%
Mar 25	49.67%
Feb 25	51.73%
Feb 25	52.71%
Feb 25	52.26%
Feb 25	55.29%
Jan 25	55.51%
Jan 25	55.4%
Jan 25	56.85%
Jan 25	61.5%
Jan 25	61.05%
Dec 24	35.97%
Dec 24	37.12%
Dec 24	38.01%
Dec 24	38.78%
Nov 24	40.88%
Nov 24	41.1%
Nov 24	39.56%
Nov 24	37.19%
Nov 24	38.34%
Oct 24	36.96%

Price to Sales

3968.HK Price to Sales by year
Period	Price to Sales
Sep 26	2.72
Sep 26	2.68
Sep 26	2.76
Aug 26	2.54
Aug 26	2.56
Aug 26	2.49
Aug 26	2.53
Jul 26	2.65
Jul 26	2.54
Jul 26	2.46
Jul 26	2.39
Jul 26	2.31
Jun 26	2.19
Jun 26	2.31
Jun 26	2.41
Jun 26	2.36
May 26	2.3
May 26	2.27
May 26	2.31
May 26	2.32
Apr 26	2.32
Apr 26	2.49
Apr 26	2.49
Apr 26	2.47
Apr 26	2.47
Mar 26	2.3
Mar 26	2.28
Mar 26	2.31
Mar 26	2.29
Feb 26	2.28
Feb 26	2.31
Feb 26	2.29
Feb 26	2.32
Jan 26	2.26
Jan 26	2.2
Jan 26	2.26
Jan 26	2.39
Jan 26	2.56
Dec 25	2.44
Dec 25	2.42
Dec 25	2.43
Dec 25	2.56
Nov 25	2.49
Nov 25	2.46
Nov 25	2.48
Nov 25	2.46
Oct 25	2.34
Oct 25	2.39
Oct 25	2.36
Oct 25	2.22
Oct 25	2.23
Sep 25	2.16
Sep 25	2.23
Sep 25	2.28
Sep 25	2.24
Aug 25	2.27
Aug 25	2.29
Aug 25	2.32
Aug 25	2.38
Aug 25	2.39
Jul 25	2.48
Jul 25	2.45
Jul 25	2.42
Jul 25	2.45
Jun 25	2.56
Jun 25	2.46
Jun 25	2.41
Jun 25	2.34
May 25	2.28
May 25	2.32
May 25	2.3
May 25	2.17
May 25	2.07
Apr 25	2.11
Apr 25	2.07
Apr 25	2.07
Apr 25	2.13
Mar 25	2.18
Mar 25	2.31
Mar 25	2.36
Mar 25	2.27
Feb 25	2.18
Feb 25	2.14
Feb 25	2.15
Feb 25	2.04
Jan 25	2.03
Jan 25	2.03
Jan 25	1.98
Jan 25	1.83
Jan 25	1.84
Dec 24	1.9
Dec 24	1.84
Dec 24	1.79
Dec 24	1.76
Nov 24	1.67
Nov 24	1.66
Nov 24	1.72
Nov 24	1.83
Nov 24	1.78
Oct 24	1.85

EV/EBITDA

3968.HK EV/EBITDA by year
Period	EV/EBITDA
Sep 26	13.32
Sep 26	13.23
Sep 26	13.4
Aug 26	12.89
Aug 26	12.94
Aug 26	12.77
Aug 26	12.86
Jul 26	13.14
Jul 26	12.9
Jul 26	12.7
Jul 26	12.53
Jul 26	12.35
Jun 26	-3.08
Jun 26	-2.79
Jun 26	-2.5
Jun 26	-2.66
May 26	-2.8
May 26	-2.88
May 26	-2.77
May 26	-2.74
Apr 26	-2.74
Apr 26	-2.3
Apr 26	-2.3
Apr 26	-2.36
Apr 26	-2.35
Mar 26	12.2
Mar 26	12.16
Mar 26	12.23
Mar 26	12.17
Feb 26	12.14
Feb 26	12.23
Feb 26	12.19
Feb 26	12.27
Jan 26	12.11
Jan 26	11.95
Jan 26	12.09
Jan 26	12.44
Jan 26	12.89
Dec 25	2.07
Dec 25	2.02
Dec 25	2.06
Dec 25	2.39
Nov 25	2.21
Nov 25	2.12
Nov 25	2.19
Nov 25	2.13
Oct 25	1.79
Oct 25	1.93
Oct 25	1.85
Oct 25	1.49
Oct 25	1.52
Sep 25	-3.04
Sep 25	-2.86
Sep 25	-2.73
Sep 25	-2.83
Aug 25	-2.76
Aug 25	-2.7
Aug 25	-2.63
Aug 25	-2.46
Aug 25	-2.44
Jul 25	-2.18
Jul 25	-2.26
Jul 25	-2.35
Jul 25	-2.28
Jun 25	-1.92
Jun 25	-2.19
Jun 25	-2.32
Jun 25	-2.51
May 25	-2.66
May 25	-2.57
May 25	-2.61
May 25	-2.95
May 25	-3.23
Apr 25	-3.11
Apr 25	-3.22
Apr 25	-3.23
Apr 25	-3.07
Mar 25	-2.17
Mar 25	-1.83
Mar 25	-1.68
Mar 25	-1.94
Feb 25	-2.17
Feb 25	-2.28
Feb 25	-2.23
Feb 25	-2.55
Jan 25	-2.57
Jan 25	-2.56
Jan 25	-2.69
Jan 25	-3.09
Jan 25	-3.05
Dec 24	3.09
Dec 24	2.94
Dec 24	2.82
Dec 24	2.73
Nov 24	2.49
Nov 24	2.46
Nov 24	2.64
Nov 24	2.93
Nov 24	2.78
Oct 24	2.96

Price/Operating Cashflow

3968.HK Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	2.47
Sep 26	2.43
Sep 26	2.5
Aug 26	2.3
Aug 26	2.32
Aug 26	2.25
Aug 26	2.29
Jul 26	2.4
Jul 26	2.3
Jul 26	2.22
Jul 26	2.16
Jul 26	2.09
Jun 26	2.37
Jun 26	2.49
Jun 26	2.61
Jun 26	2.55
May 26	2.49
May 26	2.45
May 26	2.5
May 26	2.51
Apr 26	2.51
Apr 26	2.69
Apr 26	2.69
Apr 26	2.67
Apr 26	2.67
Mar 26	3.46
Mar 26	3.44
Mar 26	3.47
Mar 26	3.44
Feb 26	3.43
Feb 26	3.48
Feb 26	3.45
Feb 26	3.5
Jan 26	3.41
Jan 26	3.32
Jan 26	3.4
Jan 26	3.59
Jan 26	3.85
Dec 25	2.48
Dec 25	2.46
Dec 25	2.47
Dec 25	2.6
Nov 25	2.53
Nov 25	2.49
Nov 25	2.52
Nov 25	2.5
Oct 25	2.37
Oct 25	2.42
Oct 25	2.4
Oct 25	2.26
Oct 25	2.27
Sep 25	1.94
Sep 25	2
Sep 25	2.05
Sep 25	2.01
Aug 25	2.04
Aug 25	2.06
Aug 25	2.08
Aug 25	2.13
Aug 25	2.14
Jul 25	2.23
Jul 25	2.2
Jul 25	2.17
Jul 25	2.2
Jun 25	2.84
Jun 25	2.73
Jun 25	2.68
Jun 25	2.6
May 25	2.53
May 25	2.57
May 25	2.56
May 25	2.41
May 25	2.29
Apr 25	2.35
Apr 25	2.3
Apr 25	2.3
Apr 25	2.36
Mar 25	1.82
Mar 25	1.93
Mar 25	1.97
Mar 25	1.89
Feb 25	1.82
Feb 25	1.78
Feb 25	1.8
Feb 25	1.7
Jan 25	1.69
Jan 25	1.7
Jan 25	1.65
Jan 25	1.53
Jan 25	1.54
Dec 24	2.53
Dec 24	2.45
Dec 24	2.39
Dec 24	2.35
Nov 24	2.23
Nov 24	2.21
Nov 24	2.3
Nov 24	2.45
Nov 24	2.37
Oct 24	2.46

Price to Book

3968.HK Price to Book by year
Period	Price to Book
Sep 26	1
Sep 26	0.99
Sep 26	1.01
Aug 26	0.93
Aug 26	0.94
Aug 26	0.91
Aug 26	0.93
Jul 26	0.97
Jul 26	0.93
Jul 26	0.9
Jul 26	0.88
Jul 26	0.85
Jun 26	0.8
Jun 26	0.84
Jun 26	0.88
Jun 26	0.86
May 26	0.84
May 26	0.83
May 26	0.84
May 26	0.84
Apr 26	0.84
Apr 26	0.9
Apr 26	0.91
Apr 26	0.9
Apr 26	0.9
Mar 26	0.97
Mar 26	0.96
Mar 26	0.97
Mar 26	0.96
Feb 26	0.96
Feb 26	0.97
Feb 26	0.97
Feb 26	0.98
Jan 26	0.95
Jan 26	0.93
Jan 26	0.95
Jan 26	1.01
Jan 26	1.08
Dec 25	0.9
Dec 25	0.9
Dec 25	0.9
Dec 25	0.95
Nov 25	0.92
Nov 25	0.91
Nov 25	0.92
Nov 25	0.91
Oct 25	0.87
Oct 25	0.88
Oct 25	0.87
Oct 25	0.82
Oct 25	0.83
Sep 25	0.84
Sep 25	0.87
Sep 25	0.89
Sep 25	0.87
Aug 25	0.88
Aug 25	0.89
Aug 25	0.9
Aug 25	0.92
Aug 25	0.93
Jul 25	0.97
Jul 25	0.95
Jul 25	0.94
Jul 25	0.95
Jun 25	1.03
Jun 25	0.99
Jun 25	0.97
Jun 25	0.94
May 25	0.92
May 25	0.93
May 25	0.93
May 25	0.88
May 25	0.83
Apr 25	0.85
Apr 25	0.83
Apr 25	0.83
Apr 25	0.86
Mar 25	0.93
Mar 25	0.98
Mar 25	1.01
Mar 25	0.96
Feb 25	0.93
Feb 25	0.91
Feb 25	0.92
Feb 25	0.87
Jan 25	0.86
Jan 25	0.86
Jan 25	0.84
Jan 25	0.78
Jan 25	0.78
Dec 24	0.84
Dec 24	0.82
Dec 24	0.8
Dec 24	0.78
Nov 24	0.74
Nov 24	0.74
Nov 24	0.77
Nov 24	0.81
Nov 24	0.79
Oct 24	0.82

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China Merchants Bank Co., Ltd.

Video analysis: 3968.HK

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