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Ping An Insurance (Group) Company of China Ltd. (82318) Fair Value & Analysis

Financials · HK · Market cap HK$1.2T (≈ $151B)

What is Ping An Insurance (Group) Company of China Ltd. really worth?

PA Ping An Insurance (Group) Company of China Ltd. 82318 · HK
PriceHK$48.94
Fair ValueHK$61.00
Upside+24.6%
Quality62/100

A solid business, trading 20% below our fair value of HK$61.00.

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Strengths

Solidly profitable · 13.9% net margin
Ranks above peers (9/13)

Risks

!Weak Growth (revenue 5y −5.0 %/yr)
!High debt · generates free cash flow
!Moderate moat 62/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 18 out of 100

For context

·5.52% dividend yield
Evidence: Medium Range HK$45.75 – HK$76.24

Fair value as of: Aug 24, 2026

From 6 valuation models · updated 12 days ago

Fair value updated Aug 24, 2026, revised from HK$82.36 to HK$61.00 (−25.9%) since Aug 13, 2026. Share price −1.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • 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 (3 years)

HK$62.86 HK$11.09 Fair Value HK$61.00 Jun 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

39‑month range HK$11.09 – HK$62.86 · fair‑value band HK$45.75 – HK$76.24 · the HK$48.94 price screens below the HK$61.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

Ping An Insurance (Group) Company of China Ltd. (82318) currently trades at HK$48.94, while our model-based Fair Value estimate is HK$61.00, implying the stock looks roughly 19.8% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Financials sector. Bull case: the Multiples group reads highest at a median of HK$57.79 per share, and 3 of the 6 models we run sit above the HK$48.94 price. Bear case: the Asset-Based group reads lowest at HK$27.66, and 3 of the 6 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Ping An Insurance (Group) Company of China Ltd. generated revenue of HK$953B at a net margin of 13.9%. Revenue declined 3.3% year over year. It earns a return on equity of 11.3%. Net debt stands at HK$2.3T. Fundamentals as of Aug 24, 2026

Our scenario range runs from HK$45.75 (bear case) to HK$76.24 (bull case); at HK$48.94, 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 23% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financials peers we cover trades at 47% fair-value upside, at 25%, 82318 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$2.16 per share, which is 3.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence HK$40.00 HK$49.96 HK$118.52 67
DDM Multi-Stage HK$21.66 HK$38.74 HK$49.28 64
Gordon GGM HK$21.66 HK$47.29 HK$79.57 63
All 6 models by family
Dividend Discount
Gordon GGM HK$21.66 HK$47.29 HK$79.57 63
DDM Multi-Stage HK$21.66 HK$38.74 HK$49.28 64
Multiples
P/E Multiple HK$52.79 HK$70.39 HK$87.99 63
P/B Multiple HK$43.34 HK$57.79 HK$72.24 55
Asset-Based
NCAV (Graham) HK$20.64 HK$27.66 HK$41.28 54
Economic Profit
Residual Income best evidence HK$40.00 HK$49.96 HK$118.52 67

Widest divergence: Multiples (HK$57.79) versus Asset-Based (HK$27.66). Highest evidence: Residual Income (67).

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Key figures & financial health

P/S ratio 1.24 TTM
EPS (TTM) HK$5.88
Dividend yield 5.5% payout 45.9%
Net margin 12.9% FY2025
Return on equity 11.3% TTM
Return on assets (EBIT) 3.8% avg 5y
More key figures
Profitability
Operating margin 49.0% TTM
Growth
Revenue (TTM) HK$953B TTM
Revenue growth (YoY) −3.3% 3y avg +3.6%
EPS growth (YoY) −13.2%
Balance sheet & cash flow
Free cash flow HK$656B FY2025
Net debt HK$2.3T FY2025 · ≈ 3.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 56 · Market factors (momentum, volatility) 47

Profitability 30
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services in the People's Republic of China. It operates through Life and Health Insurance; Property and Casualty Insurance; Banking; Asset Management; and Finance Enablement segments.

Full company description

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services in the People's Republic of China. It operates through Life and Health Insurance; Property and Casualty Insurance; Banking; Asset Management; and Finance Enablement segments. The company offers life insurance products, including term, whole-life, endowment, annuity, investment-linked, universal life, and health care and medical insurance; property and casualty insurance, such as auto insurance, non-auto insurance, accident, and health insurance. It also undertakes loan and intermediary business with corporate customers and retail customers. In addition, the company provides wealth management and credit card services to individual customers; trust services, brokerage services, trading services, investment banking services, investment management services, finance lease business, and other asset management services; and financial and daily-life services through internet platforms comprising financial transaction information service platform, and health care service platform. Further, it is involved in the real estate investment and management; expressway operation; production and sale of consumer chemicals; logistics and real estate activities; consulting services; warehousing; IT services; infant products; and hospital management. Ping An Insurance (Group) Company of China, Ltd. was incorporated in 1988 and is based in Shenzhen, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ping An Insurance (Group) Company of China Ltd. reported revenue of HK$1.0T in FY2025 versus HK$1.2T in FY2021, a compound −3.1%/yr. Reported net income was HK$131B in FY2025, compounding +6.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.0T
Latest YoY
+5.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−5.0%
Avg. revenue growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+25.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.0% (0.5 + 5.5)
Revenue −3.1%/yr
FY21 HK$1.2T
FY22 HK$915B
FY23 HK$907B
FY24 HK$964B
FY25 HK$1.0T
Net income +6.6%/yr
FY21 HK$102B
FY22 HK$111B
FY23 HK$85.7B
FY24 HK$127B
FY25 HK$131B
Character of growth · EPS growth decomposed (2014-2025) +9.9 % p.a.
Revenue per share +4.8 %

of which total revenue +4.8 % · buybacks/dilution +0.0 %

EBIT margin −2.2 %
Tax rate +2.3 %
Residual (interest, one-offs) +4.8 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Ping An Insurance (Group) Company of China Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/82318

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Financials · 3318 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Insurance” was too small, so the broader sector is used.)

Quality Score 61 · Above median
Fair Value upside +25% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 1% · Below median
Net margin (TTM) 14% · Below median
Operating margin (TTM) 49% · Above median
Revenue growth −3% · Bottom 25%
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 1.65× · Higher than 75% of peers

Valuation Multiples vs Financials median · lower = cheaper

P/B 0.15× · Cheaper than 75% of peers
P/S (TTM) 0.16× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 6.8× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE66 · sector 26
FUTURE0 · sector 41
PAST45 · sector 38
HEALTH18 · sector 87
DIVIDEND100 · sector 56

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Insurance stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
American Financial Group AFGE $16.12 $13.69 −15%
540755 540755 ₹348.25 ₹696.50 +100%
500271 500271 ₹1,562 ₹453.95 −71%
NRCP NRCP 1.25 PHP 2.50 PHP +100%
AIA Group 81299 HK$62.10 HK$6.45 −90%
Federal Home Loan Mortgage Corporation FMCKK $13.00 $26.00 +100%
CGABL CGABL $16.15 $10.52 −35%
AIZN AIZN $18.44 $22.31 +21%
Reinsurance Group RZB $25.34 $43.96 +73%
MGRB MGRB $16.13 $23.73 +47%

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Frequently asked questions

Is Ping An Insurance (Group) Company of China Ltd. (82318) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of HK$61.00 versus a price of HK$48.94, about +25% upside (undervalued).
What is the fair value of 82318?
Our model-based fair value for Ping An Insurance (Group) Company of China Ltd. is HK$61.00 (as of Aug 24, 2026), built from audited fundamentals. The current price: HK$48.94.
What is the quality score of 82318?
Ping An Insurance (Group) Company of China Ltd. has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ping An Insurance (Group) Company of China Ltd. (82318)?
Ping An Insurance (Group) Company of China Ltd. reported trailing-twelve-month revenue of about HK$953B (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 82318?
The net profit margin of Ping An Insurance (Group) Company of China Ltd. is about 13.9%, meaning it keeps roughly 13.9% of revenue as net income. Based on the latest reported figures.
Does Ping An Insurance (Group) Company of China Ltd. pay a dividend?
Ping An Insurance (Group) Company of China Ltd. currently shows a dividend yield of about 5.52% relative to its recent price (as of Aug 24, 2026).
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