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China Mobile Limited (0941) Fair Value & Analysis

Communication Services · HK · Market cap HK$1.7T

CM China Mobile Limited 0941 · HK
PriceHK$82.40
Fair ValueHK$129.73
Upside+57.4%
Quality61/100
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Mixed Growth
Solidly profitable · 12.9% net margin
Low debt · generates free cash flow
6.01% dividend yield
Ranks above peers (12/15)
Moderate moat 61/100
Evidence: High Range HK$88.66 – HK$162.09 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 15, 2026, revised from HK$112.25 to HK$129.73 (+15.6%) since Jul 6, 2026. Share price +6.8% over the past month.

A solid business, screening 57% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$88.66). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$88.66 to HK$162.09) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$86.21 HK$32.89 Fair Value HK$129.73 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range HK$32.89 – HK$86.21 · fair‑value band HK$88.66 – HK$162.09 · the HK$82.40 price screens below the HK$129.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

China Mobile Limited (0941) currently trades at HK$82.40, while our model-based Fair Value estimate is HK$129.73, implying the stock looks roughly 57.4% undervalued today. We read business quality at 61/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, China Mobile Limited generated revenue of HK$1.1T at a net margin of 12.9%. Revenue grew 1.0% year over year. It earns a return on equity of 9.6%. The balance sheet holds a net cash position of HK$5.8B. Fundamentals as of Jul 15, 2026

Our scenario range runs from HK$88.66 (bear case) to HK$162.09 (bull case); at HK$82.40, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 39% fair-value upside, at 57%, 0941 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF HK$50.03 HK$75.64 HK$115.02 80
Residual Income HK$60.92 HK$67.13 HK$92.42 76
Rev-Margin DCF HK$60.21 HK$99.11 HK$144.90 74
All 26 models by family
DCF Models
FCF DCF HK$49.32 HK$78.59 HK$126.82 38
Owner Earnings HK$103.13 HK$167.31 HK$273.09 31
5Y Revenue Exit HK$60.21 HK$99.74 HK$151.32 39
5Y EBITDA Exit HK$114.10 HK$202.78 HK$309.14 41
5Y P/E Exit HK$77.31 HK$132.44 HK$191.77 38
10Y Revenue Exit HK$54.02 HK$90.10 HK$140.76 36
10Y EBITDA Exit HK$91.55 HK$164.16 HK$266.55 37
10Y P/E Exit HK$67.35 HK$113.60 HK$172.99 35
Earnings-Based
Graham-Dodd HK$43.78 HK$150.71 HK$202.36 54
Lynch FV HK$34.79 HK$49.71 HK$64.62 50
PEG = 1.0 HK$34.79 HK$49.71 HK$64.62 46
EPV HK$56.20 HK$65.37 HK$73.52 59
Dividend Discount
Gordon GGM HK$47.96 HK$104.70 HK$176.16 70
DDM Multi-Stage HK$47.96 HK$84.78 HK$109.11 61
Multiples
P/E Multiple HK$96.58 HK$128.77 HK$160.96 63
P/S Multiple HK$82.09 HK$109.45 HK$136.82 58
P/B Multiple HK$82.09 HK$109.45 HK$136.82 55
EV/EBIT HK$98.70 HK$130.19 HK$161.68 53
EV/EBITDA HK$161.77 HK$214.28 HK$266.80 54
EV/Revenue HK$67.91 HK$95.20 HK$122.49 43
Asset-Based
NCAV (Graham) HK$34.45 HK$46.16 HK$68.90 50
Growth DCF
Growth DCF HK$50.03 HK$75.64 HK$115.02 80
Rev-Margin DCF HK$60.21 HK$99.11 HK$144.90 74
Economic Profit
Residual Income HK$60.92 HK$67.13 HK$92.42 76
ROIC Compounder HK$56.20 HK$65.37 HK$79.76 72
Growth Earnings
Growth-Adj P/E HK$83.28 HK$118.97 HK$154.66 68

Widest divergence: Growth Earnings (HK$118.97) versus Asset-Based (HK$46.16). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) HK$1.1T
Revenue growth (YoY) +1.0%
Net margin 12.9%
Return on equity 9.6%
Free cash flow HK$76.0B FY2025
P/E ratio 11.3
More key figures
Operating margin 11.0%
EPS (TTM) HK$5.74
Dividend yield 5.8%
EPS growth (YoY) -4.9%
Net cash HK$5.8B FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 57 · Market factors (momentum, volatility) 61

Profitability 39
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 74
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

China Mobile Limited provides communication, computing, and AI services in Mainland China and Hong Kong. It offers communications services, including mobile communications, broadband networks, cellular IoT, and satellite Internet; computing services comprising data centers, cloud computing services, and cloud computing applications; and AI services, such as …

Full company description

China Mobile Limited provides communication, computing, and AI services in Mainland China and Hong Kong. It offers communications services, including mobile communications, broadband networks, cellular IoT, and satellite Internet; computing services comprising data centers, cloud computing services, and cloud computing applications; and AI services, such as data algorithms, embodied intelligence, digital intelligence culture, digital intelligence e-commerce, and industry digital intelligence services. The company was formerly known as China Mobile (Hong Kong) Limited and changed its name to China Mobile Limited in May 2006. The company was incorporated in 1997 and is based in Central, Hong Kong. China Mobile Limited operates as a subsidiary of China Mobile Hong Kong (BVI) Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Mobile Limited reported revenue of HK$1.0T in FY2025 versus HK$848B in FY2021, a compound +4.8%/yr. Reported net income was HK$134B in FY2025, compounding +3.6%/yr from FY2021.

Growth Quality 65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.0T
Latest YoY
−1.7%
Avg. growth/yr (3Y)
+3.0%
Avg. growth/yr (5Y)
+5.9%
Avg. growth/yr (28Y)
+16.1%
Revenue +4.8%/yr
FY21 HK$848B
FY22 HK$937B
FY23 HK$1.0T
FY24 HK$1.0T
FY25 HK$1.0T
Net income +3.6%/yr
FY21 HK$116B
FY22 HK$125B
FY23 HK$132B
FY24 HK$138B
FY25 HK$134B

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Cite: Fair Value Calculator (2026). "China Mobile Limited Fair Value". https://www.fairvalue-calculator.com/stock/0941

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Telecom Services · 252 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Top 25%
Fair Value upside +57% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 6.0% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 1.20× · Cheaper than median
P/S (TTM) 1.63× · Pricier than median
P/FCF 2.9× · Cheaper than median
EV/EBITDA 5.8× · Cheaper than median
PEG 51.90× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 29
FUTURE 5 · sector 15
PAST 39 · sector 28
HEALTH 100 · sector 89
DIVIDEND 100 · sector 73

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%
TLKM TLKM 2,530 IDR 3,898 IDR +54%

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Frequently asked questions

Is China Mobile Limited (0941) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of HK$129.73 versus a price of HK$82.40, about +57% (undervalued).
What is the fair value of 0941?
Our model-based fair value for China Mobile Limited is HK$129.73 (as of Jul 15, 2026), built from audited fundamentals. The current price is HK$82.40.
What is the quality score of 0941?
China Mobile Limited has a Quality Score of 61/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of China Mobile Limited (0941)?
China Mobile Limited reported trailing-twelve-month revenue of about HK$1.1T (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 0941?
The net profit margin of China Mobile Limited is about 12.9%, meaning it keeps roughly 12.9% of revenue as net income. Based on the latest reported figures.
Does China Mobile Limited pay a dividend?
China Mobile Limited currently shows a dividend yield of about 5.76% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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