China Mobile Limited

HK$81.10As of Sun 8 Nov 2026, 12:00 UTC

HKEX:0941Communication

Country Hong Kong

PE (Fwd) •••

TSR 10Y CAGR 5.61%

Div yield 6.50%

ROE 9.25%

Telecom Services

Beta (5Y) 0.24

PE TTM 11.84

TSR TTM 1.63%

Mkt cap HK$1.795T

ROIC 8.73%

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

$88

8.70%

(60.41%)

Hold 1|9|3|6|9

TTM

FYE 31 Dec CNY

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

348.5

Revenue¥B

304.3

314.4

328.2

336.1

352.9

359.2

377.9

399.3

415.2

429.2

374.5

3.99%

3.83%

24.86

Revenue growth%

15.61

13.27

15.34

15.67

18.24

18.50

15.58

15.59

18.15

16.47

11.10

16.47

15.64

6.66

Gross margin%

10.68

10.01

10.00

10.02

11.71

11.42

13.46

11.58

13.45

11.53

23.09

11.58

11.47

17.24

Operating margin%

9.34

10.58

7.92

5.84

6.53

7.72

5.81

5.48

5.60

8.23

26.39

5.81

7.13

27.03

Net margin%

15.23

12.42

14.16

14.97

17.52

19.69

22.11

21.93

22.26

22.55

29.33

22.11

18.61

15.73

P/E ratio (avg)x

27.85

28.54

29.95

26.57

29.24

27.36

27.81

28.65

29.89

30.22

15.67

28.65

28.59

16.13

EV/EBITx

30.04

33.97

31.41

33.35

33.31

35.44

38.40

37.44

34.66

36.85

37.68

36.85

34.32

25.16

FCF yield (avg)%

21.12

23.83

26.10

23.61

23.94

23.13

21.37

24.03

22.34

20.25

16.70

22.34

23.37

10.46

FCF margin%

19.67

19.07

21.80

20.30

18.45

17.94

17.74

16.34

14.02

11.63

19.41

16.34

18.20

0.806

FCF / Net incomex

1.440

1.382

1.607

1.833

1.721

1.916

2.087

1.986

2.263

2.226

1.047

2.087

1.874

7.69

ROIC%

6.70

5.29

3.47

2.63

1.34

1.49

0.40

1.29

3.98

14.43

1.29

2.06

23.22

Return on equity%

7.78

10.44

12.42

11.32

10.27

12.98

15.53

18.42

21.38

24.36

16.56

18.42

12.70

2.20

Return on assets%

21.14

22.70

22.58

19.93

20.20

21.38

21.98

19.04

21.77

24.37

16.48

21.77

21.58

2.60

EPS¥

5.19

5.62

5.76

6.39

6.87

6.07

5.55

5.04

5.56

5.55

2.71

(4.19%)

1.37%

—

10.49

EPS growth%

23.70

21.63

19.43

21.92

22.09

22.29

19.97

21.33

18.97

17.74

10.18

19.97

21.48

6.94

Bookvalue per sh¥

1.70

1.82

2.12

2.06

2.33

2.28

2.20

2.36

2.40

2.52

2.78

1.58%

4.49%

—

5.62

FCF per share¥

7.11

6.88

7.24

7.62

8.14

8.03

7.85

7.40

8.36

9.02

3.71

2.08%

3.79%

—

8.15

Dividend per sh¥

1.45

1.54

1.55

1.66

1.72

1.82

1.71

1.55

1.56

1.70

6.07

(0.23%)

0.33%

—

22.87

Div yield (avg)%

10.98

13.92

12.51

12.63

10.78

8.52

10.07

11.41

11.45

11.20

8.70

11.20

11.31

27.13

Payout ratio%

26.24

24.74

27.69

28.30

25.43

27.97

30.30

27.70

29.57

32.32

28.85

29.57

27.84

22.32

Shares (diluted)B

19.95

18.52

16.53

17.86

16.71

15.05

13.06

12.32

11.06

10.36

22.67

(9.12%)

(7.05%)

17.71

Buyback yield%

7.19

4.83

4.55

5.63

4.90

6.63

5.04

5.34

8.21

8.36

3.25

6.63

5.49

1.557

D/E ratiox

1.873

1.848

1.804

1.896

2.022

2.325

2.370

2.367

2.670

0.202

2.367

1.959

54.12

Enterprise value¥B

282.1

253.9

253.0

223.9

245.5

261.3

259.9

287.2

257.7

260.5

78.89

1.19%

(1.58%)

174.3

LT debt¥B

121.8

134.5

141.0

164.9

179.6

211.9

247.9

252.4

270.5

302.7

342.9

11.01%

11.17%

Peers (US$229.0B)

Cap (US$)

Tencent Holdings…

481.7B

14.29x

NetEase, Inc.

81.83B

17.22x

Baidu, Inc.

27.03B

—

Verizon Communications…

189.4B

11.67x

Capital

TTM

10Y

Leveragex

0.864

0.253

0.193

EBIT/Intx

0.402

0.233

Own earn%

24.79

(84.64)

(87.88)

Sh yield%

40.58

16.76

17.62

Owners

Insiders/Inst%

10.16

30.22

Short interest%

1.61

SBC / revenue%

1.92

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

5–11

$1 testx

1.4

Incr. ROIC%

China Mobile Limited provides communication, computing, and AI services in Mainland China and Hong Kong. Communications services include mobile communications, broadband networks, cellular IoT, and satellite Internet; computing services comprise data centers, cloud computing services and applications; and AI services include data algorithms, digital intelligence e-commerce, and industry digital intelligence services.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥429.2B

3.83%

1.00×

Cost of revenue

¥228.0B

3.79%

1.00×

Operating expenses

¥68.14B

3.90%

1.01×