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China Merchants Bank Valuation Multiples
Discover revenue and EBITDA valuation multiples for China Merchants Bank and similar public comparables like HDFC Bank, SMBC Group, BBVA, UBS and more.
China Merchants Bank Overview
About China Merchants Bank
China Merchants Bank was founded in 1987 and is headquartered in Shenzhen. The bank is China's seventh-largest listed bank by assets, with the largest distribution network among China's joint-stock banks. CMB's network has been expanding rapidly. Its outlets are located mainly in China's more developed areas, including the Pearl River and Yangtze River deltas. The firm has 18% and 82% of its shares listed on the Hong Kong and Shanghai exchanges, respectively. It has no foreign strategic investors. China Merchants Group is its largest shareholder, with a 30% stake. Retail banking, corporate banking, and wholesale banking accounted for 49%, 51%, and 0% of total profit before tax, respectively, and 40%, 58%, and 2% of total revenue in 2024.
Founded
1987
HQ
Employees
117.2K
Website
Sectors
Financials (LTM)
EV
$196B
China Merchants Bank Financials
China Merchants Bank reported last 12-month revenue of $49B.
In the same LTM period, China Merchants Bank generated $22B in net income.
Revenue (LTM)
China Merchants Bank P&L
In the most recent fiscal year, China Merchants Bank reported revenue of $49B and net income of $22B.
China Merchants Bank expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $49B | XXX | $49B | XXX | XXX | XXX |
| EBIT Margin | 66% | XXX | 61% | XXX | XXX | XXX |
| Net Profit | $22B | XXX | $22B | XXX | XXX | XXX |
| Net Margin | 44% | XXX | 44% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
China Merchants Bank Stock Performance
China Merchants Bank has current market cap of $144B, and enterprise value of $196B.
Market Cap Evolution
China Merchants Bank's stock price is $5.71.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $196B | $144B | 0.1% | XXX | XXX | XXX | $0.86 |
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Start Free TrialChina Merchants Bank Valuation Multiples
China Merchants Bank trades at 4.0x EV/Revenue multiple.
EV / Revenue (LTM)
China Merchants Bank Financial Valuation Multiples
As of March 25, 2026, China Merchants Bank has market cap of $144B and EV of $196B.
Equity research analysts estimate China Merchants Bank's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
China Merchants Bank has a P/E ratio of 6.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $144B | XXX | $144B | XXX | XXX | XXX |
| EV (current) | $196B | XXX | $196B | XXX | XXX | XXX |
| EV/Revenue | 4.0x | XXX | 4.0x | XXX | XXX | XXX |
| EV/EBIT | 6.1x | XXX | 6.6x | XXX | XXX | XXX |
| P/E | 6.6x | XXX | 6.7x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 3.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified China Merchants Bank Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
China Merchants Bank Margins & Growth Rates
China Merchants Bank's revenue in the last 12 month grew by 4%.
China Merchants Bank's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.
China Merchants Bank Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | 0% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 10% | XXX | XXX | XXX |
| Opex to Revenue | 39% | XXX | 35% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
China Merchants Bank Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| HDFC Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| SMBC Group | XXX | XXX | XXX | XXX | XXX | XXX |
| BBVA | XXX | XXX | XXX | XXX | XXX | XXX |
| UBS | XXX | XXX | XXX | XXX | XXX | XXX |
| TD Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
China Merchants Bank M&A Activity
China Merchants Bank acquired XXX companies to date.
Last acquisition by China Merchants Bank was on XXXXXXXX, XXXXX. China Merchants Bank acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by China Merchants Bank
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialChina Merchants Bank Investment Activity
China Merchants Bank invested in XXX companies to date.
China Merchants Bank made its latest investment on XXXXXXXX, XXXXX. China Merchants Bank invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by China Merchants Bank
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout China Merchants Bank
| When was China Merchants Bank founded? | China Merchants Bank was founded in 1987. |
| Where is China Merchants Bank headquartered? | China Merchants Bank is headquartered in China. |
| How many employees does China Merchants Bank have? | As of today, China Merchants Bank has over 117K employees. |
| Who is the CEO of China Merchants Bank? | China Merchants Bank's CEO is Liang Wang. |
| Is China Merchants Bank publicly listed? | Yes, China Merchants Bank is a public company listed on Shanghai Stock Exchange. |
| What is the stock symbol of China Merchants Bank? | China Merchants Bank trades under 600036 ticker. |
| When did China Merchants Bank go public? | China Merchants Bank went public in 2002. |
| Who are competitors of China Merchants Bank? | China Merchants Bank main competitors are HDFC Bank, SMBC Group, BBVA, UBS. |
| What is the current market cap of China Merchants Bank? | China Merchants Bank's current market cap is $144B. |
| What is the current revenue of China Merchants Bank? | China Merchants Bank's last 12 months revenue is $49B. |
| What is the current revenue growth of China Merchants Bank? | China Merchants Bank revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of China Merchants Bank? | Current revenue multiple of China Merchants Bank is 4.0x. |
| Is China Merchants Bank profitable? | Yes, China Merchants Bank is net-income-positive (as of the last 12 months). |
| What is the current net income of China Merchants Bank? | China Merchants Bank's last 12 months net income is $22B. |
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