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China Mobile Valuation Multiples

Discover revenue and EBITDA valuation multiples for China Mobile and similar public comparables like Jordan Telecom, e&, and KPN.

China Mobile Overview

About China Mobile

China Mobile is not only the largest telecom operator in China by the number of mobile subscribers (1 billion) but also the largest in the world. It has 60% of the total wireless market in China and 50% of the fixed-line broadband market. The firm has largely rolled out its 5G network, having launched 5G service in late 2019. It is doing some 5G network sharing with China Broadnet at 700 MHz and also resells its 3G/4G/5G network through China Broadnet. Strong growth is being generated through internet data centers where it has the second-largest network in China and through Cloud Services. The company issued stock on the A-share market in 2022 and completed its first buyback of H-shares.


Founded

1997

HQ

China
Employees

455.4K+

Financials

LTM Revenue $146B

LTM EBITDA $46.8B

EV

$206B

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China Mobile Financials

China Mobile has a last 12-month revenue (LTM) of $146B and a last 12-month EBITDA of $46.8B.

In the most recent fiscal year, China Mobile achieved revenue of $144B and an EBITDA of $51.7B.

China Mobile expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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China Mobile P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $146B XXX $144B XXX XXX XXX
Gross Profit $42.1B XXX $84.4B XXX XXX XXX
Gross Margin 29% XXX 58% XXX XXX XXX
EBITDA $46.8B XXX $51.7B XXX XXX XXX
EBITDA Margin 32% XXX 36% XXX XXX XXX
EBIT $20.1B XXX $21.9B XXX XXX XXX
EBIT Margin 14% XXX 15% XXX XXX XXX
Net Profit $19.6B XXX $19.2B XXX XXX XXX
Net Margin 13% XXX 13% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

China Mobile Stock Performance

As of May 30, 2025, China Mobile's stock price is CNY 82 (or $11).

China Mobile has current market cap of CNY 1.77T (or $246B), and EV of CNY 1.48T (or $206B).

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China Mobile Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$206B $246B XXX XXX XXX XXX $0.91

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China Mobile Valuation Multiples

As of May 30, 2025, China Mobile has market cap of $246B and EV of $206B.

China Mobile's trades at 1.4x EV/Revenue multiple, and 4.0x EV/EBITDA.

Equity research analysts estimate China Mobile's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

China Mobile has a P/E ratio of 12.6x.

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China Mobile Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $246B XXX $246B XXX XXX XXX
EV (current) $206B XXX $206B XXX XXX XXX
EV/Revenue 1.4x XXX 1.4x XXX XXX XXX
EV/EBITDA 4.4x XXX 4.0x XXX XXX XXX
EV/EBIT 10.3x XXX 9.4x XXX XXX XXX
EV/Gross Profit 4.9x XXX n/a XXX XXX XXX
P/E 12.6x XXX 12.8x XXX XXX XXX
EV/FCF 7.5x XXX 9.3x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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China Mobile Margins & Growth Rates

China Mobile's last 12 month revenue growth is 3%

China Mobile's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

China Mobile's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

China Mobile's rule of X is 40% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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China Mobile Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 3% XXX 3% XXX XXX XXX
EBITDA Margin 32% XXX 36% XXX XXX XXX
EBITDA Growth 2% XXX -5% XXX XXX XXX
Rule of 40 41% XXX 39% XXX XXX XXX
Bessemer Rule of X XXX XXX 40% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 5% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 0% XXX XXX XXX
Opex to Revenue XXX XXX 43% XXX XXX XXX

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China Mobile Public Comps

See public comps and valuation multiples for Telecom Service Providers and Data Centers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
e& XXX XXX XXX XXX XXX XXX
Space42 XXX XXX XXX XXX XXX XXX
Jordan Telecom XXX XXX XXX XXX XXX XXX
KPN XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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China Mobile M&A and Investment Activity

China Mobile acquired  XXX companies to date.

Last acquisition by China Mobile was  XXXXXXXX, XXXXX XXXXX XXXXXX . China Mobile acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by China Mobile

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About China Mobile

When was China Mobile founded? China Mobile was founded in 1997.
Where is China Mobile headquartered? China Mobile is headquartered in China.
How many employees does China Mobile have? As of today, China Mobile has 455.4K+ employees.
Who is the CEO of China Mobile? China Mobile's CEO is Mr. Biao He.
Is China Mobile publicy listed? Yes, China Mobile is a public company listed on SHG.
What is the stock symbol of China Mobile? China Mobile trades under 600941 ticker.
When did China Mobile go public? China Mobile went public in 2022.
Who are competitors of China Mobile? Similar companies to China Mobile include e.g. , e&, Space42, Jordan Telecom.
What is the current market cap of China Mobile? China Mobile's current market cap is $246B
What is the current revenue of China Mobile? China Mobile's last 12 months revenue is $146B.
What is the current revenue growth of China Mobile? China Mobile revenue growth (NTM/LTM) is 3%.
What is the current EV/Revenue multiple of China Mobile? Current revenue multiple of China Mobile is 1.4x.
Is China Mobile profitable? Yes, China Mobile is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of China Mobile? China Mobile's last 12 months EBITDA is $46.8B.
What is China Mobile's EBITDA margin? China Mobile's last 12 months EBITDA margin is 32%.
What is the current EV/EBITDA multiple of China Mobile? Current EBITDA multiple of China Mobile is 4.4x.
What is the current FCF of China Mobile? China Mobile's last 12 months FCF is $27.3B.
What is China Mobile's FCF margin? China Mobile's last 12 months FCF margin is 19%.
What is the current EV/FCF multiple of China Mobile? Current FCF multiple of China Mobile is 7.5x.

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