China Merchants Securities Co. Ltd (195H) — Cash Flow Quality Index
China Merchants Securities Co. Ltd (195H) has a Cash Flow Quality Index of 6.02x as of March 2026. Operating cash flow of €19.69 Billion exceeds net income of €3.27 Billion, indicating high earnings quality where cash backs reported profits. Explore China Merchants Securities Co. Ltd debt service capacity to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
China Merchants Securities Co. Ltd Cash Flow Quality Index (2017–2025)
Historical Cash Flow Quality Index for China Merchants Securities Co. Ltd across 9 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see 195H operating cash flow.
Annual Cash Flow Quality Index for China Merchants Securities Co. Ltd (2017–2025)
Year-by-year earnings quality comparison for China Merchants Securities Co. Ltd.
| Year | Quality Index | Operating CF (EUR) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | -2.54x | €-31.37 Billion | €12.35 Billion | ▼ -148.2% |
| 2024 | 5.27x | €54.73 Billion | €10.39 Billion | ▼ -7.2% |
| 2023 | 5.68x | €49.65 Billion | €8.74 Billion | ▼ -26.7% |
| 2022 | 7.74x | €62.50 Billion | €8.07 Billion | ▲ +318.3% |
| 2021 | -3.55x | €-41.19 Billion | €11.61 Billion | ▼ -243.4% |
| 2020 | -1.03x | €-9.81 Billion | €9.49 Billion | ▼ -175.3% |
| 2019 | 1.37x | €9.99 Billion | €7.28 Billion | ▼ -82.2% |
| 2018 | 7.72x | €34.17 Billion | €4.42 Billion | ▲ +205.0% |
| 2017 | -7.35x | €-42.55 Billion | €5.79 Billion | — |