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Industrial Bank

XSSC:601166
Snowflake Description

Very undervalued with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
601166
XSSC
CN¥393B
Market Cap
  1. Home
  2. CN
  3. Banks
Company description

Industrial Bank Co., Ltd. provides banking services in the People’s Republic of China. The last earnings update was 37 days ago. More info.


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601166 Share Price and Events
7 Day Returns
-0.3%
XSSC:601166
-0.7%
CN Banks
-0.1%
CN Market
1 Year Returns
18%
XSSC:601166
15.3%
CN Banks
14.1%
CN Market
601166 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Industrial Bank (601166) -0.3% -5.5% 5.2% 18% 11.7% 42.7%
CN Banks -0.7% -4.4% 2.5% 15.3% 11.9% 48.8%
CN Market -0.1% -2.8% -3.6% 14.1% -18.3% 7.6%
1 Year Return vs Industry and Market
  • 601166 outperformed the Banks industry which returned 15.3% over the past year.
  • 601166 outperformed the Market in China which returned 14.1% over the past year.
Price Volatility
601166
Industry
5yr Volatility vs Market

601166 Value

 Is Industrial Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Industrial Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Industrial Bank.

XSSC:601166 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= CN¥26.67 * 13.5%
CN¥3.59
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. CN¥26.67
Discount Rate (Cost of Equity) See below 11.2%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XSSC:601166
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.613 (1 + (1- 25%) (369.13%))
1.266
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.266 * 6.33%)
11.22%

Discounted Cash Flow Calculation for XSSC:601166 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Industrial Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

XSSC:601166 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.5% – 11.22%) * CN¥26.67)
CN¥0.60
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.60 / (11.22% - 3.2%)
CN¥7.47
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥26.67 + CN¥7.47
CN¥34.15
XSSC:601166 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥34.15
Current discount Discount to share price of CN¥18.91
= -1 x (CN¥18.91 - CN¥34.15) / CN¥34.15
44.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Industrial Bank is available for.
Intrinsic value
45%
Share price is CN¥18.91 vs Future cash flow value of CN¥34.15
Current Discount Checks
For Industrial Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Industrial Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Industrial Bank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Industrial Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Industrial Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XSSC:601166 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥3.06
SHSE:601166 Share Price ** SHSE (2019-12-04) in CNY CN¥18.91
China Banks Industry PE Ratio Median Figure of 25 Publicly-Listed Banks Companies 7.68x
China Market PE Ratio Median Figure of 2,996 Publicly-Listed Companies 29.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Industrial Bank.

XSSC:601166 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:601166 Share Price ÷ EPS (both in CNY)

= 18.91 ÷ 3.06

6.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Industrial Bank is good value based on earnings compared to the CN Banks industry average.
  • Industrial Bank is good value based on earnings compared to the China market.
Price based on expected Growth
Does Industrial Bank's expected growth come at a high price?
Raw Data
XSSC:601166 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.7%per year
China Banks Industry PEG Ratio Median Figure of 13 Publicly-Listed Banks Companies 0.66x
China Market PEG Ratio Median Figure of 1,262 Publicly-Listed Companies 1.19x

*Line of best fit is calculated by linear regression .

XSSC:601166 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.17x ÷ 9.7%

0.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Industrial Bank is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Industrial Bank's assets?
Raw Data
XSSC:601166 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥22.85
SHSE:601166 Share Price * SHSE (2019-12-04) in CNY CN¥18.91
China Banks Industry PB Ratio Median Figure of 25 Publicly-Listed Banks Companies 0.87x
China Market PB Ratio Median Figure of 3,603 Publicly-Listed Companies 2.2x
XSSC:601166 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:601166 Share Price ÷ Book Value per Share (both in CNY)

= 18.91 ÷ 22.85

0.83x

* Primary Listing of Industrial Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Industrial Bank is good value based on assets compared to the CN Banks industry average.
X
Value checks
We assess Industrial Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Industrial Bank has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

601166 Future Performance

 How is Industrial Bank expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Industrial Bank expected to grow at an attractive rate?
  • Industrial Bank's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Industrial Bank's earnings growth is positive but not above the China market average.
  • Industrial Bank's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
XSSC:601166 Future Growth Rates Data Sources
Data Point Source Value (per year)
XSSC:601166 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.7%
XSSC:601166 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 12.5%
China Banks Industry Earnings Growth Rate Market Cap Weighted Average 10.7%
China Banks Industry Revenue Growth Rate Market Cap Weighted Average 11.8%
China Market Earnings Growth Rate Market Cap Weighted Average 20.8%
China Market Revenue Growth Rate Market Cap Weighted Average 15.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XSSC:601166 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XSSC:601166 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 213,768 78,811 10
2020-12-31 196,375 70,385 12
2019-12-31 175,923 65,844 9
2019-12-05
XSSC:601166 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 119,235 -519,750 63,447
2019-06-30 115,451 -559,058 61,360
2019-03-31 114,050 -494,215 61,141
2018-12-31 111,247 -356,099 59,138
2018-09-30 109,126 -376,097 59,170
2018-06-30 106,582 -279,851 57,774
2018-03-31 104,910 -325,836 56,549
2017-12-31 104,212 -162,642 55,718
2017-09-30 105,142 26,259 55,870
2017-06-30 104,200 133,172 54,863
2017-03-31 103,634 236,009 53,827
2016-12-31 105,811 203,017 52,703

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Industrial Bank's earnings are expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).
  • Industrial Bank's revenue is expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XSSC:601166 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Industrial Bank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:601166 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.78 4.25 3.07 9.00
2020-12-31 3.37 3.75 2.98 12.00
2019-12-31 3.16 3.18 3.15 7.00
2019-12-05
XSSC:601166 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 3.06
2019-06-30 2.96
2019-03-31 2.95
2018-12-31 2.85
2018-09-30 2.85
2018-06-30 2.79
2018-03-31 2.72
2017-12-31 2.74
2017-09-30 2.79
2017-06-30 2.79
2017-03-31 2.83
2016-12-31 2.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Industrial Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Industrial Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Industrial Bank has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

601166 Past Performance

  How has Industrial Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Industrial Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Industrial Bank's year on year earnings growth rate has been positive over the past 5 years.
  • Industrial Bank's 1-year earnings growth exceeds its 5-year average (7.2% vs 5.8%)
  • Industrial Bank's earnings growth has not exceeded the CN Banks industry average in the past year (7.2% vs 10.4%).
Earnings and Revenue History
Industrial Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Industrial Bank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:601166 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 119,235.00 63,447.00 45,332.00
2019-06-30 115,451.00 61,360.00 44,503.00
2019-03-31 114,050.00 61,141.00 42,348.00
2018-12-31 111,247.00 59,138.00 42,064.00
2018-09-30 109,126.00 59,170.00 40,087.00
2018-06-30 106,582.00 57,774.00 39,334.00
2018-03-31 104,910.00 56,549.00 38,349.00
2017-12-31 104,212.00 55,718.00 38,130.00
2017-09-30 105,142.00 55,870.00 38,902.00
2017-06-30 104,200.00 54,863.00 37,538.00
2017-03-31 103,634.00 53,827.00 37,612.00
2016-12-31 105,811.00 52,703.00 36,401.00
2016-09-30 106,998.00 52,917.00 34,075.00
2016-06-30 108,400.00 51,853.00 33,226.00
2016-03-31 111,336.00 51,066.00 33,615.00
2015-12-31 109,097.00 50,156.00 32,849.00
2015-09-30 108,125.00 50,055.00 32,822.00
2015-06-30 105,137.00 49,355.00 31,516.00
2015-03-31 101,923.00 48,565.00 29,924.00
2014-12-31 99,077.00 47,138.00 29,451.00
2014-09-30 98,407.00 46,413.00 29,411.00
2014-06-30 96,908.00 45,100.00 29,312.00
2014-03-31 94,717.00 43,597.00 28,916.00
2013-12-31 91,071.00 41,211.00 28,757.00
2013-09-30 88,888.00 41,479.00 26,369.00
2013-06-30 84,103.00 39,254.00 24,845.00
2013-03-31 79,755.00 37,407.00 23,528.00
2012-12-31 75,235.00 34,718.00 22,877.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Industrial Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Industrial Bank used its assets more efficiently than the CN Banks industry average last year based on Return on Assets.
  • Unable to establish if Industrial Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Industrial Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Industrial Bank has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

601166 Health

 How is Industrial Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Industrial Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Industrial Bank Company Filings, last reported 2 months ago.

XSSC:601166 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 538,677.00 1,450,081.00 1,408,717.00
2019-06-30 518,049.00 1,442,029.00 1,083,078.00
2019-03-31 487,930.00 1,478,035.00 1,378,337.00
2018-12-31 472,584.00 1,477,425.00 855,463.00
2018-09-30 460,856.00 1,373,229.00 1,088,563.00
2018-06-30 441,047.00 1,361,539.00 654,852.00
2018-03-31 441,958.00 1,279,593.00 949,128.00
2017-12-31 422,752.00 1,355,314.00 610,740.00
2017-09-30 413,995.00 1,343,807.00 1,043,086.00
2017-06-30 398,552.00 1,317,902.00 645,615.00
2017-03-31 396,744.00 1,238,126.00 952,643.00
2016-12-31 354,410.00 1,226,947.00 604,513.00
2016-09-30 348,011.00 1,269,300.00 1,099,186.00
2016-06-30 332,265.00 1,070,488.00 489,355.00
2016-03-31 333,639.00 937,865.00 796,321.00
2015-12-31 317,377.00 647,992.00 534,441.00
2015-09-30 305,839.00 599,452.00 1,029,222.00
2015-06-30 291,430.00 523,507.00 817,455.00
2015-03-31 276,361.00 521,452.00 1,179,535.00
2014-12-31 261,096.00 404,627.00 1,030,207.00
2014-09-30 236,916.00 356,947.00 1,499,606.00
2014-06-30 223,256.00 357,079.00 1,231,474.00
2014-03-31 217,434.00 294,731.00 1,521,520.00
2013-12-31 201,171.00 235,230.00 1,111,210.00
2013-09-30 195,810.00 222,901.00 1,204,549.00
2013-06-30 185,560.00 244,219.00 1,099,329.00
2013-03-31 182,462.00 254,684.00 1,347,571.00
2012-12-31 170,635.00 322,367.00 1,093,876.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Industrial Bank has an acceptable proportion of non-loan assets held.
  • Industrial Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Industrial Bank are broadly funded by customer deposits.
  • Industrial Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Industrial Bank has a sufficient allowance for bad loans.
  • Industrial Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Industrial Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Industrial Bank has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

601166 Dividends

 What is Industrial Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.65%
Current annual income from Industrial Bank dividends. Estimated to be 4.15% next year.
If you bought CN¥2,000 of Industrial Bank shares you are expected to receive CN¥73 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Industrial Bank's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.48%).
  • Industrial Bank's dividend is above the markets top 25% of dividend payers in China (1.98%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XSSC:601166 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
China Banks Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 3.1%
China Market Average Dividend Yield Market Cap Weighted Average of 2577 Stocks 1.9%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.5%
China Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XSSC:601166 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.86 7.00
2020-12-31 0.78 9.00
2019-12-31 0.73 10.00
2019-12-05
XSSC:601166 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-06-10 0.690 3.737
2018-06-07 0.650 4.020
2017-06-06 0.610 3.542
2016-05-30 0.610 3.792
2015-05-20 0.570 3.606
2014-07-11 0.046 0.358
2014-03-31 0.460 4.628
2013-06-25 0.380 3.752
2012-08-10 0.247 2.443
2012-03-16 0.247 2.823
2011-03-30 0.170 1.885
2010-03-04 0.185 1.865
2009-06-12 0.167 1.234

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Industrial Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.5x coverage).
X
Income/ dividend checks
We assess Industrial Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Industrial Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Industrial Bank has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

601166 Management

 What is the CEO of Industrial Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yiping Tao
COMPENSATION CN¥0
AGE 56
TENURE AS CEO 3.7 years
CEO Bio

Mr. Yiping Tao has served as President since April 28, 2016, Chief Financial Officer and Director since June 20, 2016 at Industrial Bank Co. Ltd. He has worked in Bank of China for years, including the 6-year service in Bank of China Group (Hong Kong). He has served as section chief of the General Plan Division of Fujian Branch of Bank of China, Senior Manager of the General Office of the Hong Kong and Macao Administration Office of BOC Group, Senior Manager of the China Business Department of Hong Kong Branch of Kincheng Bank, Director of the General Office and Chief of the Fund Plan Division of Fujian Branch of Bank of China, President of Fuzhou Shizhong Sub-branch of Bank of China, Assistant President and Vice President of Fujian Branch of Bank of China, President of Xiamen Branch of Bank of China, President of Fujian Branch of Bank of China, and President of Shandong Branch of Bank of China. He is graduated from Xiamen University (majoring in Statistics) in 1984, he is a senior economist holding the degree of MBA.

CEO Compensation
  • Insufficient data for Yiping to compare compensation growth.
  • Yiping's remuneration is higher than average for companies of similar size in China.
Management Team Tenure

Average tenure and age of the Industrial Bank management team in years:

3.9
Average Tenure
52
Average Age
  • The tenure for the Industrial Bank management team is about average.
Management Team

Yiping Tao

TITLE
President
AGE
56
TENURE
3.7 yrs

Jinguang Chen

TITLE
VP & Director
AGE
58
TENURE
6.8 yrs

Weimin Li

TITLE
VP & Director
AGE
52
TENURE
0.9 yrs

Xinjian Chen

TITLE
VP, Secretary of the Board & Director
AGE
52
TENURE
4.1 yrs

Furong Lai

TITLE
Head of Finance Department & Supervisor
COMPENSATION
CN¥3M
AGE
51
Board of Directors Tenure

Average tenure and age of the Industrial Bank board of directors in years:

3.7
Average Tenure
56.5
Average Age
  • The tenure for the Industrial Bank board of directors is about average.
Board of Directors

Yiping Tao

TITLE
President
AGE
56
TENURE
3.5 yrs

Jinguang Chen

TITLE
VP & Director
AGE
58
TENURE
3.5 yrs

Weimin Li

TITLE
VP & Director
AGE
52
TENURE
0.9 yrs

Xinjian Chen

TITLE
VP, Secretary of the Board & Director
AGE
52
TENURE
3.5 yrs

Furong Lai

TITLE
Head of Finance Department & Supervisor
COMPENSATION
CN¥3M
AGE
51
TENURE
12.2 yrs

Yunming Jiang

TITLE
Chairman of the Board of Supervisors
COMPENSATION
CN¥842K
AGE
54
TENURE
3.8 yrs

Paul Marin Theil

TITLE
Independent Director
AGE
66
TENURE
6 yrs

Xijia Su

TITLE
Independent Director
AGE
65
TENURE
2.8 yrs

Qing Zhu

TITLE
Independent Non-Executive Director
AGE
62
TENURE
5.3 yrs

Shiping Liu

TITLE
Independent Non-Executive Director
AGE
57
TENURE
5.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CN¥) Value (CN¥)
X
Management checks
We assess Industrial Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Industrial Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

601166 News

Simply Wall St News

601166 Company Info

Description

Industrial Bank Co., Ltd. provides banking services in the People’s Republic of China. The company’s banking services include accepting deposits from the public; granting short-term, medium-term, and long-term loans; domestic and overseas settlement services; issuance of discount and financial bonds; acceptance bills and notes; agency issue and encashment, underwriting, and trading of government bonds; trading of government and financial bonds and debentures; agency trading and trading of marketable securities except stock; asset custody business; and inter-bank lending and borrowings. It also sells and purchases foreign exchange, as well as provides bank cards; letters of credit and letters of guarantee; remittance and insurance agent services; safety deposit box services; financial advisory services; credit investigation, advisory, and attestation services; and other banking services. In addition, the company, through its subsidiaries, is involved in finance leasing, trust, fund raising and marketing, asset management, consumer finance, equity investment, industrial investment, and investment management and consulting; financial, business, and enterprise management consulting; financial data processing, commodity and financial futures brokerage, futures investment consulting, and economic information consulting; application software development and operational, and system integration services. Further, it engages in investment and assets management; acquisition, transfer, and disposal of non-performing assets of financial and non-financial institutions; and other banking activities. Additionally, the company offers debit and credit card, and Internet and mobile banking services. Industrial Bank Co., Ltd. was founded in 1988 and is headquartered in Fuzhou, the People’s Republic of China.

Details
Name: Industrial Bank Co., Ltd.
601166
Exchange: XSSC
Founded: 1988
CN¥392,839,947,101
20,774,190,751
Website: http://www.cib.com.cn
Address: Industrial Bank Co., Ltd.
No. 154 Hudong Road,
Fuzhou,
Fujian Province, 350003,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 601166 Domestic Shares Shanghai Stock Exchange CN CNY 05. Feb 2007
XSSC 601166 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 05. Feb 2007
Number of employees
Current staff
Staff numbers
59,584
Industrial Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 15:41
End of day share price update: 2019/12/04 00:00
Last estimates confirmation: 2019/12/04
Last earnings filing: 2019/10/29
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.