Stock 2318 PING AN INSURANCE GROUP COMPANY
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Financials Ping An Insurance Group Company Hong Kong S.E.

Equities

2318

CNE1000003X6

Life & Health Insurance

Market Closed - Hong Kong S.E.
Other stock markets
 01:38:20 26/04/2024 pm IST 		5-day change 1st Jan Change
35.8 HKD +1.56% Intraday chart for Ping An Insurance Group Company +14.93% +1.27%
24/04 Hong Kong Stocks Surge on Upbeat China Outlook MT
24/04 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 15,34,002 15,31,895 8,79,307 8,41,286 6,68,575 6,89,518 - -
Enterprise Value (EV) 1 15,34,002 15,31,895 8,79,307 8,41,286 6,68,575 6,89,518 6,89,518 6,89,518
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) 1,82,22,647 1,82,10,235 1,81,32,470 1,81,07,642 1,81,07,642 1,81,07,642 - -
Reference price 2 85.46 86.98 50.41 47.00 40.30 41.53 41.53 41.53
Announcement Date 20/02/20 03/02/21 17/03/22 15/03/23 21/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,68,867 7,57,599 7,39,933 7,42,418 10,31,863 9,84,182 11,37,038 10,78,138
EBITDA - - - - - - - -
EBIT 1 1,85,028 2,14,200 1,67,662 2,26,391 1,18,683 1,52,266 1,60,481 1,76,760
Operating Margin 15.83% 28.27% 22.66% 30.49% 11.5% 15.47% 14.11% 16.39%
Earnings before Tax (EBT) 1 1,84,739 1,87,764 1,39,580 1,05,815 1,20,117 1,56,607 1,80,105 1,84,954
Net income 1 1,49,407 1,43,099 1,01,618 83,774 85,665 1,21,536 1,29,481 1,41,844
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 20/02/20 03/02/21 17/03/22 15/03/23 21/03/24 - - -
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 3,27,347 6,29,956 3,41,845 6,35,649 3,29,643 - - 4,12,977 1,71,312 1,58,129 3,29,441 2,81,600 - 5,46,134 4,85,729 - 1,83,200 - 1,85,000 1,85,500 - - -
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 20/02/20 27/08/20 03/02/21 26/08/21 17/03/22 29/04/22 23/08/22 23/08/22 26/10/22 15/03/23 15/03/23 26/04/23 29/08/23 29/08/23 21/03/24 23/04/24 - - - - - - -
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 76,82,779 88,75,457 98,34,983 1,06,39,590 1,12,96,980 1,16,86,150 1,17,32,103 1,38,38,422
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 20/02/20 03/02/21 17/03/22 15/03/23 21/03/24 - - -
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

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

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Life Insurance
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