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STOCK COMPARISON

Cathay Financial Holding Co vs China Life Insurance Co Ltd A: Fair Value & Quality

Both stocks run through our valuation models. Here is how Cathay Financial Holding Co (2882) and China Life Insurance Co Ltd A (601628) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees China Life Insurance Co Ltd A as the more attractively valued of the two: Cathay Financial Holding Co trades at TWD 115 versus a fair value of TWD 90.27 (-22%), while China Life Insurance Co Ltd A trades at ¥39.17 versus ¥49.98 (+28%).
Cathay Financial Holding Co
2882.TW · TWD · Financials
-22%
upside to fair value
overvalued
PriceTWD 115
Fair ValueTWD 90.27
Quality54/100
China Life Insurance Co Ltd A
601628.SHG · CNY · Financials
+28%
upside to fair value
undervalued
Price¥39.17
Fair Value¥49.98
Quality63/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Cathay Financial Holding CoChina Life Insurance Co Ltd A
Valuation
13.3×P/E (TTM)7.3×
1.70×P/S (TTM)3.09×
1.49×P/B1.78×
10.7×EV/EBITDA6.0×
2.83×PEG0.68×
−21.5%Fair value upside+27.6%
3.7%Dividend yield2.2%
Dividend per share¥0.86
Profitability
36%Operating margin38%
0.11×EBIT margin trend (5Y)4.26×
12%Return on equity25%
2%Return on assets2%
Growth
94%Revenue growth (YoY)-15%
40.7%Avg. growth/yr (3Y)-9.5%
10.7%Avg. growth/yr (5Y)-4.8%
−26.3%Value creation/yr+27.1%
Balance & size
1.6×Interest coverage (EBIT/interest)43.7×
0.22×Debt / equity0.06×
$43BMarket cap$158B
healthyGrowth qualityweak

China Life Insurance Co Ltd A leads: 6 to 9 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Cathay Financial Holding Coof which business quality 51 · market factors 92 China Life Insurance Co Ltd Aof which business quality 57 · market factors 45
ProfitabilityMargins and returns on capital today
26
47
Quality GrowthAre margins and returns improving?
45
68
CashflowEarnings quality: real cash, not paper profit
91
100
Fin. StrengthBalance sheet, leverage, solvency risk
18
1
InvestmentDisciplined investing over empire-building
64
59
Low VolatilityCalm price path (market factor)
78
68
MomentumPrice trend over the last 3–12 months (market factor)
96
40
52W MomentumDistance to the 52-week high (market factor)
100
29
Net IssuanceBuybacks instead of dilution
73
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCathay Financial Holding CoPrice TWD 115China Life Insurance Co Ltd APrice ¥39.17
Dividend Discount-38%below the priceTWD 71.54-54%below the price¥17.98
Multiples-20%below the priceTWD 91.77+28%above the price¥50.18
Asset-Based-63%below the priceTWD 42.40-64%below the price¥14.11
Economic Profit-40%below the priceTWD 69.22+48%above the price¥57.79
Minimum-63%below the priceTWD 42.40-64%below the price¥14.11
Maximum-20%below the priceTWD 91.77+48%above the price¥57.79
Median-39%below the priceTWD 70.38-13%close to the price¥34.08
Geometric mean-42%below the priceTWD 66.25-25%below the price¥29.28

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Cathay Financial Holding Co: 6 of 6 models see the stock below the current price.

China Life Insurance Co Ltd A: 4 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Cathay Financial Holding Co
Bear TWD 67.70Fair Value TWD 90.27Bull TWD 113
TWD 115 = current price (white tick)
China Life Insurance Co Ltd A
Bear ¥37.48Fair Value ¥49.98Bull ¥62.47
¥39.17 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Cathay Financial Holding Co · Financials

Quality score54 · below median
Fair value upside-22% · below median

China Life Insurance Co Ltd A · Financials

Quality score63 · Top 25%
Fair value upside+28% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees China Life Insurance Co Ltd A as the more attractively valued of the two: Cathay Financial Holding Co trades at TWD 115 versus a fair value of TWD 90.27 (-22%), while China Life Insurance Co Ltd A trades at ¥39.17 versus ¥49.98 (+28%).

China Life Insurance Co Ltd A has the higher quality score (63/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.