China Mobile Reports Weak Full-Year Result, Particularly Cash Flow; FVE Reduced to HKD 97
China Mobile’s 2018 result was below our expectation with underlying service revenue down 3.7%. While the company reported EBITDA up 1.9% and net profit up 3.1%, we note that operating cash flow was down around 16%, the second year in a row that operating cash flow has declined despite reported earnings growth. We retain our narrow moat rating on the stock but reduce our fair value estimate to HKD 97 (USD 61) from HKD 105 per share (USD 66 per ADR) on reduced earnings forecasts despite a slight ...China Mobile and its subsidiaries are engaged in the provision of mobile telecommunications and related services principally using the Global System for Mobile Communications standard and the Time Division Synchronous Code Division Multiple Access standard. In addition, Co. provides its customers with internet access through wireless local area networks. Co. also develops and carries its 4G business based on the TDD mode long-term evolution technology. As of Dec 31 2013, Co. had approx. 767,200,000 customers in all 31 provinces, autonomous regions and directly-administered municipalities in the People's Republic of China as well as in Hong Kong.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.