Stock 601318 PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
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Financials Ping An Insurance (Group) Company of China, Ltd.

Equities

601318

CNE000001R84

Life & Health Insurance

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
41.53 CNY +1.14% Intraday chart for Ping An Insurance (Group) Company of China, Ltd. +5.35% +3.05%
Apr. 24 Hong Kong Stocks Surge on Upbeat China Outlook MT
Apr. 24 Nomura Adjusts Ping An Insurance’s Price Target to HK$54.41 From HK$54.12, Keeps at Buy MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,534,002 1,531,895 879,307 841,286 668,575 689,518 - -
Enterprise Value (EV) 1 1,534,002 1,531,895 879,307 841,286 668,575 689,518 689,518 689,518
P/E ratio 10.2 x 10.8 x 8.81 x 9.94 x 8.5 x 6.33 x 5.88 x 5.55 x
Yield 2.4% 2.53% 4.72% 5.15% 3.72% 5.95% 6.36% 6.55%
Capitalization / Revenue 1.31 x 2.02 x 1.19 x 1.13 x 0.65 x 0.7 x 0.7 x 0.64 x
EV / Revenue 1.31 x 2.02 x 1.19 x 1.13 x 0.65 x 0.7 x 0.7 x 0.64 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.32 x 2.09 x 1.13 x 1 x 0.82 x 0.78 x 0.71 x 0.68 x
Nbr of stocks (in thousands) 18,222,647 18,210,235 18,132,470 18,107,642 18,107,642 18,107,642 - -
Reference price 2 85.46 86.98 50.41 47.00 40.30 41.53 41.53 41.53
Announcement Date 2/20/20 2/3/21 3/17/22 3/15/23 3/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,168,867 757,599 739,933 742,418 1,031,863 984,182 1,137,038 1,078,138
EBITDA - - - - - - - -
EBIT 1 185,028 214,200 167,662 226,391 118,683 152,266 160,481 176,760
Operating Margin 15.83% 28.27% 22.66% 30.49% 11.5% 15.47% 14.11% 16.39%
Earnings before Tax (EBT) 1 184,739 187,764 139,580 105,815 120,117 162,699 171,159 184,954
Net income 1 149,407 143,099 101,618 83,774 85,665 121,536 129,481 141,844
Net margin 12.78% 18.89% 13.73% 11.28% 8.3% 12.35% 11.39% 13.16%
EPS 2 8.380 8.040 5.720 4.730 4.740 6.560 7.061 7.487
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.050 2.200 2.380 2.420 1.500 2.469 2.643 2.719
Announcement Date 2/20/20 2/3/21 3/17/22 3/15/23 3/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 327,347 629,956 341,845 635,649 329,643 - - 412,977 171,312 158,129 329,441 281,600 - 546,134 485,729 - 183,200 - 185,000 185,500 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - -
EBIT - - - - 73,766 - - 78,085 - - 88,310 - - 95,950 25,042 - - 83,349 - - 72,689 92,148 74,765
Operating Margin - - - - 22.38% - - 18.91% - - 26.81% - - 17.57% 5.16% - - - - - - - -
Earnings before Tax (EBT) - 90,760 - 78,821 - - 49,464 - - - - - - - - - - - - - - - -
Net income - 68,683 74,416 58,005 - 20,658 39,615 - 16,190 7,311 - 38,400 31,489 69,841 - 36,709 - - - - - - -
Net margin - 10.9% 21.77% 9.13% - - - - 9.45% 4.62% - 13.64% - 12.79% - - - - - - - - -
EPS 2.910 3.860 4.180 3.260 2.460 - - - - - 1.330 - - 3.870 0.8700 - - 3.450 - - 3.010 3.820 3.100
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/20/20 8/27/20 2/3/21 8/26/21 3/17/22 4/29/22 8/23/22 8/23/22 10/26/22 3/15/23 3/15/23 4/26/23 8/29/23 8/29/23 3/21/24 4/23/24 - - - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 24.4% 20% 13% 10% 9.7% 12.3% 12% 12%
ROA (Net income/ Total Assets) 1.94% 1.61% 1.03% 0.79% 0.76% 1.04% 1.1% 1.03%
Assets 1 7,682,779 8,875,457 9,834,983 10,639,590 11,296,980 11,686,150 11,732,103 13,838,422
Book Value Per Share 2 36.80 41.70 44.40 47.00 49.40 53.20 58.80 61.30
Cash Flow per Share - - 5.070 26.60 - - - -
Capex 1 - - - 8,871 - 2,169 2,286 2,441
Capex / Sales - - - 1.19% - 0.22% 0.2% 0.23%
Announcement Date 2/20/20 2/3/21 3/17/22 3/15/23 3/21/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ping An Insurance (Group) Company of China, Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
24
Last Close Price
41.53 CNY
Average target price
55.22 CNY
Spread / Average Target
+32.97%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Life Insurance

1st Jan change Capi.
PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. Stock Ping An Insurance (Group) Company of China, Ltd.
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SBI LIFE INSURANCE COMPANY LIMITED Stock SBI Life Insurance Company Limited
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HDFC LIFE INSURANCE COMPANY LIMITED Stock HDFC Life Insurance Company Limited
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NN GROUP N.V. Stock NN Group N.V.
+20.70% 12.62B
Life Insurance
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