New China Life Insurance Co Ltd (601336) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of New China Life Insurance Co Ltd stock ¥77.29, price ¥52.93, upside +46.0%, quality 65 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range ¥22.81 – ¥85.01 · fair‑value band ¥63.07 – ¥124.90 · the ¥52.93 price screens below the ¥77.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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New China Life Insurance Company Ltd. provides life insurance products and services to individuals and institutions in China. The company operates through three segments: Traditional insurance, Participating insurance, and Other Business.
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It provides life insurance, health insurance, and accident insurance products and services.
The company also offers asset management, investment management, training, electronic commerce, and medical services; elderly care services and enterprise management service; property management; and invests in, develops, leases, and manages real estate properties.
The company was incorporated in 1996 and is headquartered in Beijing, China.
Stock analysis
New China Life Insurance Co Ltd (601336) currently trades at ¥52.93, while our model-based Fair Value estimate is ¥77.29, implying the stock looks roughly 32% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ¥77.29 per share, and 3 of the 6 models we run sit above the ¥52.93 price.
Bear case: the Asset-Based group reads lowest at ¥23.28, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥63.07 (bear) to ¥124.90 (bull), the price of ¥52.93 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
New China Life Insurance Co Ltd reported revenue of 134B CNY in FY2025 versus 222B CNY in FY2021, a compound −11.8%/yr. Reported net income was 36.3B CNY in FY2025, compounding +24.8%/yr from FY2021.
Key figures
Market cap 165B CNY (≈ $24.8B) Large · P/E ratio 3.6 · P/S ratio 1.99 · EPS (TTM) ¥14.20 · Dividend yield 5.3% · Net margin 53.3% · Return on equity 42.8% · Return on assets (EBIT) 1.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −41% fair-value upside, at 46%, 601336 screens cheaper than that median.
Fair Value models
Bear¥63.07Fair Value ¥77.29Bull¥124.90
Price ¥52.93 · Upside +46.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥9.66 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+25.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.5%
Dividend (yield on the price)5.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.0% vs 19.0%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 30%
2025 sits 69% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
AI conclusion: Solid returns on equity stand out alongside recent profit growth, yet thin evidence of a durable moat and limited governance transparency remain the main weaknesses.
Main risk: Frequent regulatory penalties at branches for issues such as providing extra-contract benefits or false reporting could damage reputation, raise compliance costs and constrain sales operations.
Bull case: By strengthening internal controls and governance the company could reduce penalties, rebuild trust with regulators and use its AI investments to improve compliance monitoring and product quality.
Bear case: Persistent compliance failures and governance issues could lead to more severe sanctions, restricted business activities or loss of bancassurance partnerships, limiting premium growth.
New China Life has lifted new business value by nearly 12 percent in the first half while lifting net profit more than 50 percent, helped by stronger investment returns. The core question is how much of future earnings will come from steady premium growth and embedded value versus swings in the investment portfolio. Will disciplined expansion of the insurance book deliver more lasting value than market-driven income, or will returns on assets continue to set the pace?
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Peer Groupⓘ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.Insurance - Life · 77 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+46.0% · Top 25%
Profitability
Return on equity (12 months)42.8% · Top 25%
Return on assets1.9% · Top 25%
Net margin (12 months)53.3% · Top 25%
Operating margin (12 months)65.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)39.1% · Top 25%
Dividend yield (12 months)5.3% · Top 25%
Balance sheet
Debt / equity0.18× · Below median
Valuation Multiplesvs Insurance - Life median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "New China Life Insurance Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601336
Frequently asked questions
Is New China Life Insurance Co Ltd (601336) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ¥77.29 versus a price of ¥52.93, about +46% upside (undervalued).
What is the fair value of 601336?
Our model-based fair value for New China Life Insurance Co Ltd is ¥77.29 (as of Nov 3, 2026), built from audited fundamentals. The current price: ¥52.93.
What is the quality score of 601336?
New China Life Insurance Co Ltd has a Quality Score of 65/100. 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 price target for New China Life Insurance Co Ltd (601336)?
Our model-based price target is the fair value of ¥77.29 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario ¥63.07, optimistic scenario ¥124.90. It is a calculation from audited fundamentals, not an analyst target.
What is the New China Life Insurance Co Ltd stock forecast for 2026?
Our models put fair value at ¥77.29, about +46% upside versus a price of ¥52.93 (undervalued). Cautious scenario ¥63.07, optimistic scenario ¥124.90. The calculation is refreshed regularly with new filings.
What is the revenue of New China Life Insurance Co Ltd (601336)?
New China Life Insurance Co Ltd reported trailing-twelve-month revenue of about 83.0B CNY (latest available figure, as of Nov 3, 2026).
Does New China Life Insurance Co Ltd pay a dividend?
New China Life Insurance Co Ltd currently shows a dividend yield of 5.27% relative to its recent price (as of Nov 3, 2026).
What is the intrinsic value of New China Life Insurance Co Ltd (601336)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For New China Life Insurance Co Ltd it is ¥77.29 per share (as of Nov 3, 2026), against a price of ¥52.93. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is New China Life Insurance Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 601336 trades below its calculated fair value: price ¥52.93, fair value ¥77.29, a gap of about +46% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 601336?
No. The price is what the market pays today (¥52.93); the fair value is what the company's own numbers justify (¥77.29). For New China Life Insurance Co Ltd the two are ¥24.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is New China Life Insurance Co Ltd worth?
The market values New China Life Insurance Co Ltd at about 165B CNY (market capitalisation, as of Nov 3, 2026). Per share that is ¥52.93; our models calculate a fair value of ¥77.29 per share.
What do the bullish and bearish scenarios say about 601336?
Our models span a range for New China Life Insurance Co Ltd: cautious scenario ¥63.07, base ¥77.29, optimistic ¥124.90 per share (as of Nov 3, 2026, price ¥52.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 601336?
New China Life Insurance Co Ltd trades at a price-to-earnings ratio of 3.6 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥77.29 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 10.8. Other multiples: PEG 0.6, P/B 1.5, P/S 2.0, EV/EBITDA 2.1.
What is the PEG ratio of 601336?
The PEG ratio of New China Life Insurance Co Ltd is 0.56 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of New China Life Insurance Co Ltd (601336)?
Balance-sheet figures for New China Life Insurance Co Ltd (as of Nov 3, 2026): return on equity 42.8%, debt of 0.18 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 601336 from its 52-week high?
New China Life Insurance Co Ltd trades at ¥52.93, about 38% below its 52-week high of ¥85.01 and 6% above the low of ¥49.81 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥77.29 is for.
Which stocks are comparable to New China Life Insurance Co Ltd?
From the same area (Financial Services) we also value Ping An Insurance (Group) Company, China Life Insurance Company, AIA Group, Manulife Financial Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is New China Life Insurance Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price ¥52.93, calculated fair value ¥77.29 (+46%), Quality Score 65/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 601336 calculated?
We run New China Life Insurance Co Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥77.29, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. New China Life Insurance Co Ltd currently trades 32% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of New China Life Insurance Co Ltd (601336)?
The closing price on Nov 5, 2026 was ¥52.93. Our model-based fair value is ¥77.29, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with New China Life Insurance Co Ltd right now?
The price is below even our cautious bear case (¥63.07). The market is more pessimistic than our downside scenario. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (¥63.07 to ¥124.90) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of New China Life Insurance Co Ltd (601336) come from?
Earnings per share at New China Life Insurance Co Ltd grew +15.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −3.2 %, EBIT margin +16.0 %, tax rate +2.5 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of New China Life Insurance Co Ltd
How large is the market capitalisation of New China Life Insurance Co Ltd (601336)?
The market capitalisation of New China Life Insurance Co Ltd is 165B CNY (≈ $24.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of New China Life Insurance Co Ltd (601336)?
The price-to-sales ratio of New China Life Insurance Co Ltd is 1.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of New China Life Insurance Co Ltd (601336)?
Earnings per share at New China Life Insurance Co Ltd are ¥14.20 (price ÷ EPS = P/E 3.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of New China Life Insurance Co Ltd (601336)?
The dividend yield of New China Life Insurance Co Ltd is 5.3% (payout 19.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of New China Life Insurance Co Ltd (601336)?
The net margin of New China Life Insurance Co Ltd is 53.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of New China Life Insurance Co Ltd (601336)?
The return on equity (ROE) of New China Life Insurance Co Ltd is 42.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of New China Life Insurance Co Ltd (601336)?
On an EBIT basis the return on assets of New China Life Insurance Co Ltd is 1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of New China Life Insurance Co Ltd (601336)?
The operating margin of New China Life Insurance Co Ltd is 65.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at New China Life Insurance Co Ltd (601336)?
Revenue at New China Life Insurance Co Ltd is growing +39.1% versus a year earlier (3y avg +7.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at New China Life Insurance Co Ltd (601336)?
Earnings per share at New China Life Insurance Co Ltd are growing +83.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does New China Life Insurance Co Ltd (601336) generate?
The free cash flow of New China Life Insurance Co Ltd is 109B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does New China Life Insurance Co Ltd (601336) carry?
The net debt of New China Life Insurance Co Ltd is 138B CNY (fiscal year 2025, ≈ 1.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026