China Merchants Securities Co Ltd (600999) — Cash Flow Quality Index

Latest as of September 2025: -3.10x

China Merchants Securities Co Ltd (600999) has a Cash Flow Quality Index of -3.10x as of September 2025. Operating cash flow of CN¥-11.41 Billion is below net income of CN¥3.69 Billion, suggesting accrual-heavy earnings not yet converted to cash. Explore China Merchants Securities Co Ltd cash debt coverage ratio to assess how comfortably operating cash covers total debt obligations.

Cash Flow Quality Index

-3.10x
Operating CF / Net Income

Operating Cash Flow

CN¥-11.41 Billion
CNY

Net Income

CN¥3.69 Billion
CNY

Data as of

Sep 2025
Most recent filing

China Merchants Securities Co Ltd Cash Flow Quality Index (2004–2024)

Historical Cash Flow Quality Index for China Merchants Securities Co Ltd across 21 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see 600999 cash generation efficiency.

Annual Cash Flow Quality Index for China Merchants Securities Co Ltd (2004–2024)

Year-by-year earnings quality comparison for China Merchants Securities Co Ltd.

Year Quality Index Operating CF (CNY) Net Income YoY Change
2024 5.27x CN¥54.73 Billion CN¥10.39 Billion ▲ +70.4%
2023 3.09x CN¥27.10 Billion CN¥8.77 Billion ▼ -60.1%
2022 7.74x CN¥62.50 Billion CN¥8.08 Billion ▲ +319.0%
2021 -3.53x CN¥-41.19 Billion CN¥11.66 Billion ▼ -242.5%
2020 -1.03x CN¥-9.81 Billion CN¥9.50 Billion ▼ -175.5%
2019 1.37x CN¥9.99 Billion CN¥7.31 Billion ▼ -82.2%
2018 7.68x CN¥34.17 Billion CN¥4.45 Billion ▲ +204.8%
2017 -7.33x CN¥-42.55 Billion CN¥5.80 Billion ▼ -65.9%
2016 -4.42x CN¥-23.94 Billion CN¥5.42 Billion ▼ -4131.2%
2015 0.11x CN¥1.20 Billion CN¥10.93 Billion ▼ -97.8%
2014 5.05x CN¥19.61 Billion CN¥3.88 Billion ▲ +161.3%
2013 -8.23x CN¥-18.42 Billion CN¥2.24 Billion ▼ -326.4%
2012 -1.93x CN¥-3.18 Billion CN¥1.65 Billion ▲ +84.8%
2011 -12.73x CN¥-25.57 Billion CN¥2.01 Billion ▼ -5164.5%
2010 -0.24x CN¥-780.77 Million CN¥3.23 Billion ▼ -104.3%
2009 5.63x CN¥22.12 Billion CN¥3.93 Billion ▲ +132.6%
2008 -17.26x CN¥-36.42 Billion CN¥2.11 Billion ▼ -249.7%
2007 11.53x CN¥58.37 Billion CN¥5.06 Billion ▲ +41.9%
2006 8.13x CN¥10.17 Billion CN¥1.25 Billion ▼ -74.3%
2005 31.68x CN¥1.67 Billion CN¥52.85 Million ▲ +185.1%
2004 -37.23x CN¥-1.59 Billion CN¥42.79 Million —
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.