June 12, 2008

招商银行3968

ROA = 1.16%

ROE=22% 好过HSBC和渣打银行

2007 2008 2009 2010 2011 2012
book est. 679.00 950.60 1140.72(+20%) 1368.86(+20%) 1642.64(+20%) 1971.16(+20%)
per book 4.62 6.47 7.76 9.31 11.17 13.41
P/B 3.79 3.16 2.63 2.19 1.83
3 PB price 19.53 23.44 28.13 33.75 40.50
4 PB 18.48 25.87 31.04 37.25 44.70 53.64
5 PB 23.10 32.33 38.80 46.56 55.87 67.05
(+50%) (+50%) (+30%) (+30%) (+30%)
earning est. 162.80 244.20 366.30 476.19 619.05 804.76
EPS 1.11 1.66 2.49 3.24 4.21 5.47
20 PE 22.15 33.22 49.84 64.79 84.22 109.49

 

2328 中国财险

Total shares = 111亿 market value = 111* 5.7=641亿.PE=20 P/B=2.46

 

2318 中国平安

Total shares = 71.5亿 market value = 71.5*58=4149亿 PE=21

book value = 16.26  3*PB=48

 

2628 中国人寿

Total shares = 282.66亿 market value = 282.66* 28 = 7914  PE=19.4

book value= 7.765  P/B=3.6    3*PB=23.2

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