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China Pacific Insurance (Group) Co (601601) Fair Value & Analysis

Financial Services · CN · Market cap 286B CNY

CP China Pacific Insurance (Group) Co 601601 · SHG
Price¥31.67
Fair Value¥59.50
Upside+87.9%
Quality56/100
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Weak Growth
Solidly profitable · 16.3% net margin
Low debt · generates free cash flow
3.85% dividend yield
Ranks above peers (13/15)
Moderate moat 58/100
Evidence: High Range ¥44.63 – ¥74.38 Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 20 days ago

Fair value updated Jul 18, 2026, revised from ¥59.30 to ¥59.50 (+0.3%) since Jul 5, 2026. Share price +7.3% over the past month.

A solid business, screening 88% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥44.63). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) 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.
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Price vs Fair Value (5 years)

¥47.89 ¥17.33 Fair Value ¥59.50 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range ¥17.33 – ¥47.89 · fair‑value band ¥44.63 – ¥74.38 · the ¥31.67 price screens below the ¥59.50 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

China Pacific Insurance (Group) Co (601601) currently trades at ¥31.67, while our model-based Fair Value estimate is ¥59.50, implying the stock looks roughly 87.9% undervalued today. We read business quality at 56/100 (solid 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, China Pacific Insurance (Group) Co generated revenue of 334B CNY at a net margin of 16.0%. Revenue declined 3.3% year over year. It earns a return on equity of 17.0%. Net debt stands at 166B CNY. Fundamentals as of Jul 18, 2026

Our scenario range runs from ¥44.63 (bear case) to ¥74.38 (bull case); at ¥31.67, the current price sits below 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 35% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 1% fair-value upside, at 88%, 601601 screens cheaper 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥358.73 ¥602.62 ¥1,021 80
Residual Income ¥38.14 ¥50.46 ¥188.56 76
ROIC Compounder ¥69.62 ¥90.27 ¥116.41 72
All 25 models by family
DCF Models
FCF DCF ¥355.25 ¥602.60 ¥1,022 38
Owner Earnings ¥76.19 ¥126.08 ¥210.76 31
5Y Revenue Exit ¥159.43 ¥215.57 ¥282.63 39
5Y EBITDA Exit ¥162.09 ¥220.76 ¥286.18 41
5Y P/E Exit ¥169.55 ¥235.34 ¥303.59 38
10Y Revenue Exit ¥220.39 ¥291.65 ¥382.43 36
10Y EBITDA Exit ¥224.25 ¥295.43 ¥385.32 37
10Y P/E Exit ¥229.20 ¥306.03 ¥399.49 35
Earnings-Based
Graham-Dodd ¥37.82 ¥143.35 ¥194.05 54
Lynch FV ¥34.77 ¥49.67 ¥64.57 50
PEG = 1.0 ¥34.77 ¥49.67 ¥64.57 46
EPV ¥63.27 ¥73.43 ¥82.46 59
Dividend Discount
Gordon GGM ¥15.28 ¥33.35 ¥56.11 70
DDM Multi-Stage ¥15.28 ¥27.32 ¥34.75 61
Multiples
P/E Multiple ¥83.43 ¥111.24 ¥139.05 63
P/S Multiple ¥70.91 ¥94.55 ¥118.19 58
P/B Multiple ¥70.67 ¥94.22 ¥117.78 55
EV/EBIT ¥98.39 ¥129.30 ¥160.20 53
EV/EBITDA ¥76.96 ¥100.73 ¥124.49 54
EV/Revenue ¥68.18 ¥94.96 ¥121.74 43
Asset-Based
NCAV (Graham) ¥15.70 ¥21.04 ¥31.41 50
Growth DCF
Growth DCF ¥358.73 ¥602.62 ¥1,021 80
Economic Profit
Residual Income ¥38.14 ¥50.46 ¥188.56 76
ROIC Compounder ¥69.62 ¥90.27 ¥116.41 72
Growth Earnings
Growth-Adj P/E ¥61.74 ¥88.20 ¥114.66 68

Widest divergence: Growth DCF (¥602.62) versus Asset-Based (¥21.04). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 334B CNY
Revenue growth (YoY) -3.3%
Net margin 16.0%
Return on equity 17.0%
Free cash flow 265B CNY FY2025
P/E ratio 5.7
More key figures
Operating margin 16.3%
EPS (TTM) ¥5.48
EPS growth (YoY) -6.0%
Net debt 166B CNY FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 56 · Market factors (momentum, volatility) 34

Profitability 35
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

China Pacific Insurance (Group) Co., Ltd., together with its subsidiaries, provides insurance products to in the People's Republic of China. It operates through Life and Health Insurance, Property and Casualty Insurance, Asset Management, and Other Business segments.

Full company description

China Pacific Insurance (Group) Co., Ltd., together with its subsidiaries, provides insurance products to in the People's Republic of China. It operates through Life and Health Insurance, Property and Casualty Insurance, Asset Management, and Other Business segments. The company offers life, health, automobile, liability, agricultural, property and casualty, commercial property, and accident insurance products; pension and annuity insurance products; investments with insurance funds, etc.; and reinsurance products. It also provides real estate and property management, consulting, medical and health consulting, insurance agency, fund management, seniors and disabled care, elderly, nursing, real estate development and operation, technical and seniors care consulting, technical, cloud computing, bid data, business, hospital management, and medical services; and senior living property investment, construction, and management services. In addition, the company offers investment management, pension fund and insurance asset management, private equity investment fund management, and non-residential real estate leasing services. China Pacific Insurance (Group) Co., Ltd. was founded in 1991 and is headquartered in Shanghai, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Pacific Insurance (Group) Co reported revenue of ¥386B in FY2025 versus ¥437B in FY2021, a compound −3.0%/yr. Reported net income was ¥53.5B in FY2025, compounding +18.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
386B CNY
Latest YoY
+23.3%
Avg. growth/yr (3Y)
+12.2%
Avg. growth/yr (5Y)
−1.6%
Avg. growth/yr (21Y)
+10.9%
Revenue −3.0%/yr
FY21 ¥437B
FY22 ¥274B
FY23 ¥276B
FY24 ¥313B
FY25 ¥386B
Net income +18.8%/yr
FY21 ¥26.8B
FY22 ¥37.4B
FY23 ¥27.3B
FY24 ¥45.0B
FY25 ¥53.5B

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Cite: Fair Value Calculator (2026). "China Pacific Insurance (Group) Co Fair Value". https://www.fairvalue-calculator.com/stock/601601

Peer Group

Insurance - Life · 96 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.

Quality Score 52 · Below median
Fair Value upside +88% · Top 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 1% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 16% · Above median
Revenue growth -3% · Below median
Dividend yield (TTM) 3.9% · Above median
Debt / equity 0.08× · Lower than 75% of peers

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 5.4× · Cheaper than 75% of peers
P/B 0.95× · Cheaper than median
P/S (TTM) 0.87× · Cheaper than median
P/FCF 0.2× · Cheaper than median
EV/EBITDA 3.2× · Cheaper than median
PEG 0.88× · Cheaper than median

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.

VALUE 100 · sector 28
FUTURE 0 · sector 44
PAST 69 · sector 42
HEALTH 96 · sector 85
DIVIDEND 77 · sector 54

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

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 - Life stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥38.72 ¥70.87 +83%
Ping An Insurance (Group) Company 601318 ¥49.60 ¥96.76 +95%
AIA Group 1299 HK$75.55 HK$7.88 -90%
Manulife Financial Corporation MFC C$58.52 C$45.13 -23%
Great-West Lifeco Inc GWO C$92.34 C$59.64 -35%
Life Insurance Corporation LICI ₹438.30 ₹590.43 +35%
Fubon Financial Holding 2881 124.50 TWD 115.05 TWD -8%
Cathay Financial Holding 2882 94.00 TWD 94.95 TWD +1%
Samsung Life Insurance Co 032830 337,500 KRW 166,710 KRW -51%
Prudential plc PUKN 545.00 MXN 722.72 MXN +33%

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Frequently asked questions

Is China Pacific Insurance (Group) Co (601601) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of ¥59.50 versus a price of ¥31.67, about +88% (undervalued).
What is the fair value of 601601?
Our model-based fair value for China Pacific Insurance (Group) Co is ¥59.50 (as of Jul 18, 2026), built from audited fundamentals. The current price is ¥31.67.
What is the quality score of 601601?
China Pacific Insurance (Group) Co has a Quality Score of 56/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of China Pacific Insurance (Group) Co (601601)?
China Pacific Insurance (Group) Co reported trailing-twelve-month revenue of about 334B CNY (latest available figure, as of Jul 18, 2026).
What is the net profit margin of 601601?
The net profit margin of China Pacific Insurance (Group) Co is about 16.0%, meaning it keeps roughly 16.0% of revenue as net income. Based on the latest reported figures.

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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