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Ping An Insurance (Group) Company of China Ltd. (82318) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Ping An Insurance (Group) Company of China Ltd. HK$44.05, price HK$44.40, upside -0.8%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Financials · HK

PA Some data Sep 27, 2026

Ping An Insurance (Group) Company of China Ltd.

82318 · HK

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value HK$44.05 · Fairly valued (−0.8%)
✓Quality 62/100
!Weak Growth (revenue 5y −5.0 %/yr)
✓Solidly profitable · 13.9% net margin (TTM)
!High debt · generates free cash flow
✓6.1% dividend yield · Low payout
✓Ranks above peers (9/13)
!Moderate moat 62/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 18 out of 100
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What runs behind every stock

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

Price vs Fair Value

HK$61.60 HK$10.87 Fair Value HK$44.05 Jun 2023 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

39‑month range HK$10.87 – HK$61.60 · fair‑value band HK$35.82 – HK$63.70 · the HK$44.40 price screens above the HK$44.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

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.

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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.

Stock analysis

Ping An Insurance (Group) Company of China Ltd. (82318) currently trades at HK$44.40, while our model-based Fair Value estimate is HK$44.05, so the stock looks roughly fairly valued today (gap 0.8%).

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Valuation

Bull case: the Multiples group reads highest at a median of HK$52.66 per share, and 2 of the 6 models we run sit above the HK$44.40 price.

Bear case: the Asset-Based group reads lowest at HK$25.20, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: HK$35.82 (bear) to HK$63.70 (bull), the price of HK$44.40 sits inside 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 62/100 (solid quality), in the Financials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

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.

Key figures

Market cap HK$1.2T (≈ $151B) · P/S ratio 1.24 · EPS (TTM) HK$5.88 · Dividend yield 6.1% · Net margin 12.9% · Return on equity 11.3% · Return on assets (EBIT) 3.8% · Operating margin 49.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financials peers we cover trades at 13% fair-value upside, at −1%, 82318 screens richer than that median.

Fair Value models

Bear HK$35.82 Fair Value HK$44.05 Bull HK$63.70
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$2.40 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income HK$35.90 HK$43.97 HK$62.91 73
Gordon GGM HK$18.84 HK$39.18 HK$62.15 64
DDM Multi-Stage HK$18.84 HK$33.04 HK$41.12 64
All 6 models by family
Dividend Discount
Gordon GGM HK$18.84 HK$39.18 HK$62.15 64
DDM Multi-Stage HK$18.84 HK$33.04 HK$41.12 64
Multiples
P/E Multiple HK$48.11 HK$64.15 HK$80.19 63
P/B Multiple HK$39.50 HK$52.66 HK$65.83 55
Asset-Based
NCAV (Graham) HK$18.81 HK$25.20 HK$37.62 54
Economic Profit
Residual Income HK$35.90 HK$43.97 HK$62.91 73

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Quality Score breakdown

Overall quality 62/100

Of which business quality 56 · Market factors (momentum, volatility) 46

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 37
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−5.0%
Start year 2020 (pandemic). Over 10 years: +3.9% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+25.9%
What shareholders gained per year (last 5 years) ⓘ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.
+6.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.5%
Dividend (yield on the price)6.1%
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.0.5% vs 10.5%, slowing
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.19% → 18%
Start year 2020 (pandemic)

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Earlier news

News mood ⓘNews mood, the average tone of recent news (14 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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Peer Groupⓘ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.)Financials · 3207 stocks

Beats the sector median on 9/13 measures
Overall it ranks above its sector peers.
Valuation
Quality Score 61 · Above median
Fair Value upside +26.1% · Above median
Profitability
Return on equity (TTM) 11.3% · Above median
Return on assets 1.0% · Below median
Net margin (TTM) 13.9% · Below median
Operating margin (TTM) 49.0% · Above median
Growth and dividend
Revenue growth −3.3% · Bottom 25%
Dividend yield (TTM) 6.1% · Top 25%
Balance sheet
Debt / equity 1.65× · Highest 25%

Valuation Multiplesvs Financials median · lower = cheaper

P/B 0.15× · Cheapest 25%
P/S (TTM) 0.16× · Cheapest 25%
P/FCF 0.2× · Cheapest 25%
EV/EBITDA 6.8× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)68 · sector 25
FUTURE (revenue growth)0 · sector 47
PAST (return on equity)45 · sector 38
HEALTH (low debt)18 · sector 87
DIVIDEND (yield)100 · sector 59

Context: sector, industry, market

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

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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

Frequently asked questions

Is Ping An Insurance (Group) Company of China Ltd. (82318) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$44.05 versus a price of HK$44.40, about −1% upside (fairly valued).
What is the fair value of 82318?
Our model-based fair value for Ping An Insurance (Group) Company of China Ltd. is HK$44.05 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$44.40.
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 price target for Ping An Insurance (Group) Company of China Ltd. (82318)?
Our model-based price target is the fair value of HK$44.05 (as of Sep 27, 2026) from 6 valuation models. Cautious scenario HK$35.82, optimistic scenario HK$63.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Ping An Insurance (Group) Company of China Ltd. stock forecast for 2026?
Our models put fair value at HK$44.05, about −1% upside versus a price of HK$44.40 (fairly valued). Cautious scenario HK$35.82, optimistic scenario HK$63.70. The calculation is refreshed regularly with new filings.
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 Sep 27, 2026).
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 6.08% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Ping An Insurance (Group) Company of China Ltd. (82318)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ping An Insurance (Group) Company of China Ltd. it is HK$44.05 per share (as of Sep 27, 2026), against a price of HK$44.40. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Ping An Insurance (Group) Company of China Ltd. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 82318 trades above its calculated fair value: price HK$44.40, fair value HK$44.05, a gap of about −1% (fairly valued). 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 82318?
No. The price is what the market pays today (HK$44.40); the fair value is what the company's own numbers justify (HK$44.05). For Ping An Insurance (Group) Company of China Ltd. the two are HK$0.3500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ping An Insurance (Group) Company of China Ltd. worth?
The market values Ping An Insurance (Group) Company of China Ltd. at about HK$1.2T (market capitalisation, as of Sep 27, 2026). Per share that is HK$44.40; our models calculate a fair value of HK$44.05 per share.
What do the bullish and bearish scenarios say about 82318?
Our models span a range for Ping An Insurance (Group) Company of China Ltd.: cautious scenario HK$35.82, base HK$44.05, optimistic HK$63.70 per share (as of Sep 27, 2026, price HK$44.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ping An Insurance (Group) Company of China Ltd. (82318)?
Balance-sheet figures for Ping An Insurance (Group) Company of China Ltd. (as of Sep 27, 2026): return on equity 11.3%, debt of 1.65 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 82318 from its 52-week high?
Ping An Insurance (Group) Company of China Ltd. trades at HK$44.40, about 28% below its 52-week high of HK$61.60 and 3% above the low of HK$42.92 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$44.05 is for.
Which stocks are comparable to Ping An Insurance (Group) Company of China Ltd.?
From the same area (Financials) we also value NRCP, Federal Home Loan Mortgage Corporation, CGABL, BOCHGR, 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 Ping An Insurance (Group) Company of China Ltd. stock attractive at the current price?
The data as of Sep 27, 2026: price HK$44.40, calculated fair value HK$44.05 (−1%), Quality Score 62/100, 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 82318 calculated?
We run Ping An Insurance (Group) Company of China 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 HK$44.05, 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 14.5 % above its aggregate fair value. Ping An Insurance (Group) Company of China Ltd. itself currently trades above fair value. 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 Ping An Insurance (Group) Company of China Ltd. (82318)?
The closing price on Oct 2, 2026 was HK$44.40. Our model-based fair value is HK$44.05, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ping An Insurance (Group) Company of China Ltd. right 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.
Where does the earnings growth of Ping An Insurance (Group) Company of China Ltd. (82318) come from?
Earnings per share at Ping An Insurance (Group) Company of China Ltd. grew +9.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.8 %, EBIT margin −2.2 %, tax rate +2.3 %, residual (interest, one-offs) +4.8 %. 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 Ping An Insurance (Group) Company of China Ltd.

How large is the market capitalisation of Ping An Insurance (Group) Company of China Ltd. (82318)?
The market capitalisation of Ping An Insurance (Group) Company of China Ltd. is HK$1.2T (≈ $151B). 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 Ping An Insurance (Group) Company of China Ltd. (82318)?
The price-to-sales ratio of Ping An Insurance (Group) Company of China Ltd. is 1.24 (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 Ping An Insurance (Group) Company of China Ltd. (82318)?
Earnings per share at Ping An Insurance (Group) Company of China Ltd. are HK$5.88. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ping An Insurance (Group) Company of China Ltd. (82318)?
The dividend yield of Ping An Insurance (Group) Company of China Ltd. is 6.1% (payout 45.9%). 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 Ping An Insurance (Group) Company of China Ltd. (82318)?
The net margin of Ping An Insurance (Group) Company of China Ltd. is 12.9% (fiscal year 2025). 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 Ping An Insurance (Group) Company of China Ltd. (82318)?
The return on equity (ROE) of Ping An Insurance (Group) Company of China Ltd. is 11.3% (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 Ping An Insurance (Group) Company of China Ltd. (82318)?
On an EBIT basis the return on assets of Ping An Insurance (Group) Company of China Ltd. is 3.8% (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 Ping An Insurance (Group) Company of China Ltd. (82318)?
The operating margin of Ping An Insurance (Group) Company of China Ltd. is 49.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ping An Insurance (Group) Company of China Ltd. (82318)?
Revenue at Ping An Insurance (Group) Company of China Ltd. is growing −3.3% versus a year earlier (3y avg +3.6%). 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 Ping An Insurance (Group) Company of China Ltd. (82318)?
Earnings per share at Ping An Insurance (Group) Company of China Ltd. are growing −13.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ping An Insurance (Group) Company of China Ltd. (82318) generate?
The free cash flow of Ping An Insurance (Group) Company of China Ltd. is HK$656B (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 Ping An Insurance (Group) Company of China Ltd. (82318) carry?
The net debt of Ping An Insurance (Group) Company of China Ltd. is HK$2.3T (fiscal year 2025, ≈ 3.6 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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