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STOCK COMPARISON

China Life Insurance Co Ltd A vs HDFC Life Insurance Company: Fair Value & Quality

Both stocks run through our valuation models. Here is how China Life Insurance Co Ltd A (601628) and HDFC Life Insurance Company (HDFCLIFE) 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: China Life Insurance Co Ltd A trades at ¥39.17 versus a fair value of ¥49.98 (+28%), while HDFC Life Insurance Company trades at ₹546 versus ₹114 (-79%).
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
HDFC Life Insurance Company
HDFCLIFE.NSE · INR · Financials
-79%
upside to fair value
overvalued
Price₹546
Fair Value₹114
Quality49/100
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Head-to-head numbers

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

China Life Insurance Co Ltd AHDFC Life Insurance Company
Valuation
7.3×P/E (TTM)62.1×
3.09×P/S (TTM)1.18×
1.78×P/B6.95×
6.0×EV/EBITDA51.8×
0.68×PEG
+27.6%Fair value upside−79.1%
2.2%Dividend yield0.7%
¥0.86Dividend per share₹3.99
Profitability
38%Operating margin2%
4.26×EBIT margin trend (5Y)1.05×
25%Return on equity11%
2%Return on assets0%
Growth
-15%Revenue growth (YoY)15%
-9.5%Avg. growth/yr (3Y)12.5%
-4.8%Avg. growth/yr (5Y)6.9%
+27.1%Value creation/yr+7.1%
Balance & size
43.7×Interest coverage (EBIT/interest)8.6×
0.06×Debt / equity0.18×
$158BMarket cap$13B
weakGrowth qualityhealthy

China Life Insurance Co Ltd A leads: 11 to 4 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.

China Life Insurance Co Ltd Aof which business quality 57 · market factors 45 HDFC Life Insurance Companyof which business quality 48 · market factors 37
ProfitabilityMargins and returns on capital today
47
25
Quality GrowthAre margins and returns improving?
68
40
CashflowEarnings quality: real cash, not paper profit
100
100
Fin. StrengthBalance sheet, leverage, solvency risk
1
2
InvestmentDisciplined investing over empire-building
59
55
Low VolatilityCalm price path (market factor)
68
92
MomentumPrice trend over the last 3–12 months (market factor)
40
22
52W MomentumDistance to the 52-week high (market factor)
29
2
Net IssuanceBuybacks instead of dilution
82
79

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 familyChina Life Insurance Co Ltd APrice ¥39.17HDFC Life Insurance CompanyPrice ₹546
Dividend Discount-54%below the price¥17.98-92%below the price₹43.89
Multiples+28%above the price¥50.18-79%below the price₹114
Asset-Based-64%below the price¥14.11-90%below the price₹54.75
Economic Profit+48%above the price¥57.79-84%below the price₹86.05
Minimum-64%below the price¥14.11-92%below the price₹43.89
Maximum+48%above the price¥57.79-79%below the price₹114
Median-13%close to the price¥34.08-87%below the price₹70.40
Geometric mean-25%below the price¥29.28-87%below the price₹69.74

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%.

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

HDFC Life Insurance Company: 6 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.

China Life Insurance Co Ltd A
Bear ¥37.48Fair Value ¥49.98Bull ¥62.47
¥39.17 = current price (white tick)
HDFC Life Insurance Company
Bear ₹85.55Fair Value ₹114Bull ₹143
₹546 = 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.

China Life Insurance Co Ltd A · Financials

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

HDFC Life Insurance Company · Financials

Quality score49 · below median
Fair value upside-79% · bottom 25%

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: China Life Insurance Co Ltd A trades at ¥39.17 versus a fair value of ¥49.98 (+28%), while HDFC Life Insurance Company trades at ₹546 versus ₹114 (-79%).

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.