ZhongAn Online P & C Insurance Co (6060) Fair Value & Analysis
Financial Services · HK · Market cap HK$15.8B
Fair value as of: Aug 13, 2026
From 4 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from HK$10.18 to HK$10.69 (+5.0%) since Aug 6, 2026. Share price +3.5% over the past month.
Below-average quality, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$9.00 – HK$49.80 · fair‑value band HK$8.01 – HK$13.35 · the HK$10.54 price screens below the HK$10.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
ZhongAn Online P & C Insurance Co (6060) currently trades at HK$10.54, while our model-based Fair Value estimate is HK$10.69, implying the stock looks roughly 1.4% fairly valued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, ZhongAn Online P & C Insurance Co generated revenue of HK$35.4B at a net margin of 3.1%. Revenue grew 10.1% year over year. It earns a return on equity of 4.8%. Net debt stands at HK$5.2B. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$8.01 (bear case) to HK$13.35 (bull case); at HK$10.54, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 53% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 2% fair-value upside, at 1%, 6060 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 4 models by family
Widest divergence: Economic Profit (HK$11.68) versus Multiples (HK$8.76). Highest evidence: P/E Multiple (63).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 26
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
ZhongAn Online P & C Insurance Co., Ltd., an Internet-based Insurtech company, provides internet insurance and insurance information technology services in the People's Republic of China. It operates through Insurance, Technology, Banking, and Others segments.
Full company description
ZhongAn Online P & C Insurance Co., Ltd., an Internet-based Insurtech company, provides internet insurance and insurance information technology services in the People's Republic of China. It operates through Insurance, Technology, Banking, and Others segments. The company offers critical illness, health, and outpatient and emergency insurance; e-commerce insurance; travel accident, and flight or hotel cancellation insurance; motor insurance; cargo and shipping return insurance; credit and bond insurance; pet, pet food safety, pet transport protection, pet anesthesia accident, pet critical illness insurance, pet third-party liability, pet death compensation, and employee accident insurance for the pet industry; liability insurance; and drone and household property insurance solutions. It also offers IT related business, international IT consulting; banking services; and online life insurance services, insurance brokerage, and medical services. In addition, the company offers technology development and consulting, asset management, IT consulting, Internet hospital, pharmacy, technology training, and Fintech services. ZhongAn Online P & C Insurance Co., Ltd. was incorporated in 2013 and is headquartered in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ZhongAn Online P & C Insurance Co reported revenue of HK$34.8B in FY2025 versus HK$21.9B in FY2021, a compound +12.2%/yr. Reported net income was HK$1.1B in FY2025, compounding +9.8%/yr from FY2021.
of which total revenue +34.8 pp · buybacks/dilution −0.7 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Insurance - Property & Casualty · 119 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Property & Casualty median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Progressive Corporation PGR | $207.37 | $160.25 | -23% |
| Chubb Limited CB | $343.33 | $234.73 | -32% |
| The Travelers Companies, Inc TRV | $370.16 | $274.42 | -26% |
| The Allstate Corporation ALL | $255.84 | $316.11 | +24% |
| The People's Insurance Company 601319 | ¥6.98 | ¥11.61 | +66% |
| PICC Property and Casualty Company 2328 | HK$15.52 | HK$22.28 | +44% |
| Intact Financial Corporation IFC | C$274.14 | C$167.46 | -39% |
| Fairfax Financial Holdings FFH | C$2,293 | C$2,291 | -0% |
| Samsung Fire & Marine Insurance Co 000810 | 628,000 KRW | 698,407 KRW | +11% |
| Powszechny Zaklad Ubezpieczen SA PZU | 72.14 PLN | 73.80 PLN | +2% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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