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New China Life Insurance Company (NWWCF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of New China Life Insurance Company $11.04, price $5.70, upside +93.9%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? Yes
Good quality? Yes
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Financial Services · US · ISIN CNE100001922

Broad data Oct 3, 2026

New China Life Insurance Company

NWWCF · US

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value $11.04 · Strongly undervalued (+93.9%)

✓Quality 69/100

!Weak Growth (revenue 5y −8.7 %/yr)

✓Highly profitable · 49.1% net margin (TTM)

✓Low debt · generates free cash flow

✓Wide moat 80/100

26 models, one by oneBear $8.96 to bull $17.11 Growth analysisrevenue history, year by year Quality 69/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $0.0000 – $8.48 · fair‑value band $8.96 – $17.11 · the $5.70 price screens below the $11.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

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. 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 Company (NWWCF) currently trades at $5.70, while our model-based Fair Value estimate is $11.04, implying the stock looks roughly 48.4% undervalued today.

Valuation

Bull case: the Economic Profit group reads highest at a median of $13.72 per share, and 5 of the 6 models we run sit above the $5.70 price.

Bear case: the Asset-Based group reads lowest at $4.18, and 1 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: $8.96 (bear) to $17.11 (bull), the price of $5.70 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 69/100 (solid quality), in the Financial Services sector.

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

New China Life Insurance Company reported revenue of 131B CNY in FY2025 versus 222B CNY in FY2021, a compound −12.4%/yr. Reported net income was 35.3B CNY in FY2025, compounding +24.0%/yr from FY2021.

Key figures

Market cap $19.3B · P/E ratio 3.5 · P/S ratio 0.95 · EPS (TTM) $1.75 · Net margin 27.0% · Return on equity 36.3% · Return on assets (EBIT) 1.5% · Operating margin 50.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (medium confidence).

What moves the price

The share trades about 33% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 94%, NWWCF screens cheaper than that median.

Fair Value models

Bear $8.96 Fair Value $11.04 Bull $17.11

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. 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 $11.14 $13.72 $22.70 72

Gordon GGM $6.04 $12.56 $19.93 64

DDM Multi-Stage $6.04 $9.41 $13.00 64

All 6 models by family

Dividend Discount

Gordon GGM $6.04 $12.56 $19.93 64

DDM Multi-Stage $6.04 $9.41 $13.00 64

Multiples

P/E Multiple $19.27 $25.69 $32.12 63

P/B Multiple $6.55 $8.74 $10.92 55

Asset-Based

NCAV (Graham) $3.12 $4.18 $6.24 54

Economic Profit

Residual Income $11.14 $13.72 $22.70 72

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Quality Score breakdown

Overall quality 69/100

Of which business quality 61 · Market factors (momentum, volatility) 33

Profitability 49

Margins and returns on capital today

Quality Growth 54

Are margins and returns improving?

Cashflow 100

Earnings quality: real cash, not paper profit

Fin. Strength 8

Balance sheet, leverage, solvency risk

Investment 68

Disciplined investing over empire-building

Low Volatility 36

Calm price path (market factor)

Momentum 34

Price trend over the last 3–12 months (market factor)

52W Momentum 27

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

+92.3%

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.

+7.0%

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.

−8.7%

Start year 2020 (pandemic). Over 10 years: −1.9% a year

Revenue growth 17 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.

+5.9%

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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.

+22.6%

Earnings growth per share plus dividend.

Earnings per share, growth per year+22.6%

Dividend (yield on the price)0.0%

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.80.0% vs 45.7%, picking up

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 1,180% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

Start year 2020 (pandemic)

⚠ Revenue per share shrinking 6.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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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 · 88 stocks

Beats the industry median on 13/15 measures

Overall it ranks above its industry peers.

Valuation

Quality Score 67 · Top 25%

Fair Value upside +60.5% · Top 25%

Profitability

Return on equity (TTM) 36.3% · Top 25%

Return on assets 1.4% · Above median

Net margin (TTM) 49.1% · Top 25%

Operating margin (TTM) 50.1% · Top 25%

Growth and dividend

Revenue growth 3.2% · Below median

Dividend yield (TTM) 39.1% · Top 25%

Balance sheet

Debt / equity 0.18× · Below median

Valuation Multiplesvs Insurance - Life median · lower = cheaper

P/E (TTM) 3.5× · Cheapest 25%

P/B 1.16× · Cheaper than median

P/S (TTM) 1.72× · Pricier than median

P/FCF 0.1× · Cheapest 25%

EV/EBITDA 2.5× · Cheapest 25%

PEG 0.34× · Cheapest 25%

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

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
China Life Insurance Company 601628	¥37.43	¥49.98	+34%
Ping An Insurance (Group) Company 601318	¥53.29	¥67.19	+26%
AIA Group 1299	HK$73.75	HK$41.69	−43%
Manulife Financial Corporation MFC	$42.59	$27.37	−36%
MetLife, Inc MET	$94.35	$54.39	−42%
Great-West Lifeco Inc GWO	C$93.34	C$42.07	−55%
Aflac Incorporated AFL	$111.18	$67.02	−40%
Life Insurance Corporation LICI	₹409.05	₹299.19	−27%
Cathay Financial Holding 2882	110.50 TWD	71.47 TWD	−35%
China Pacific Insurance (Group) Co 601601	¥30.88	¥48.28	+56%

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New China Life Insurance Company · Fair Value
$11.04 +48%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/NWWCF" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">New China Life Insurance Company · Fair Value</span><br><b style="font-size:20px">$11.04</b> <span style="color:var(--fvc-g-mitte);font-weight:700;font-size:14px">+48%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "New China Life Insurance Company Fair Value". https://www.fairvalue-calculator.com/stock/NWWCF

Frequently asked questions

Is New China Life Insurance Company (NWWCF) overvalued or undervalued?

As of Oct 3, 2026, our model estimates a fair value of $11.04 versus a price of $5.70, about +94% upside (undervalued).

What is the fair value of NWWCF?

Our model-based fair value for New China Life Insurance Company is $11.04 (as of Oct 3, 2026), built from audited fundamentals. The current price: $5.70.

What is the quality score of NWWCF?

New China Life Insurance Company has a Quality Score of 69/100. 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 Company (NWWCF)?

Our model-based price target is the fair value of $11.04 (as of Oct 3, 2026) from 6 valuation models. Cautious scenario $8.96, optimistic scenario $17.11. It is a calculation from audited fundamentals, not an analyst target.

What is the New China Life Insurance Company stock forecast for 2026?

Our models put fair value at $11.04, about +94% upside versus a price of $5.70 (undervalued). Cautious scenario $8.96, optimistic scenario $17.11. The calculation is refreshed regularly with new filings.

What is the revenue of New China Life Insurance Company (NWWCF)?

New China Life Insurance Company reported trailing-twelve-month revenue of about 75.1B CNY (latest available figure, as of Oct 3, 2026).

What is the intrinsic value of New China Life Insurance Company (NWWCF)?

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 Company it is $11.04 per share (as of Oct 3, 2026), against a price of $5.70. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).

Is New China Life Insurance Company stock overvalued or undervalued in 2026?

As of Oct 3, 2026, NWWCF trades below its calculated fair value: price $5.70, fair value $11.04, a gap of about +94% (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 NWWCF?

No. The price is what the market pays today ($5.70); the fair value is what the company's own numbers justify ($11.04). For New China Life Insurance Company the two are $5.35 per share apart. That gap is exactly why we show both numbers side by side.

How much is New China Life Insurance Company worth?

The market values New China Life Insurance Company at about $19.3B (market capitalisation, as of Oct 3, 2026). Per share that is $5.70; our models calculate a fair value of $11.04 per share.

What do the bullish and bearish scenarios say about NWWCF?

Our models span a range for New China Life Insurance Company: cautious scenario $8.96, base $11.04, optimistic $17.11 per share (as of Oct 3, 2026, price $5.70). The range comes from different growth and margin assumptions, not from analyst opinions.

What is the P/E ratio of NWWCF?

New China Life Insurance Company trades at a price-to-earnings ratio of 3.5 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $11.04 is built from several models across several years. Other multiples: PEG 0.3, P/B 1.2, P/S 1.7, EV/EBITDA 2.5.

What is the PEG ratio of NWWCF?

The PEG ratio of New China Life Insurance Company is 0.34 (P/E divided by earnings growth, as of Oct 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 Company (NWWCF)?

Balance-sheet figures for New China Life Insurance Company (as of Oct 3, 2026): return on equity 36.3%, debt of 0.18 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.

How far is NWWCF from its 52-week high?

New China Life Insurance Company trades at $5.70, about 33% below its 52-week high of $8.48 and 12% above the low of $5.10 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $11.04 is for.

Which stocks are comparable to New China Life Insurance Company?

From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) 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 Company stock attractive at the current price?

The data as of Oct 3, 2026: price $5.70, calculated fair value $11.04 (+94%), Quality Score 69/100, 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 NWWCF calculated?

We run New China Life Insurance Company 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 $11.04, 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. New China Life Insurance Company currently trades 48 % 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 Company (NWWCF)?

The closing price on Oct 2, 2026 was $5.70. Our model-based fair value is $11.04, about +94% 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 Company right now?

The price is below even our cautious bear case ($8.96). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($8.96 to $17.11) 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 Company (NWWCF) come from?

Earnings per share at New China Life Insurance Company grew +19.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.8 %, EBIT margin +18.7 %, tax rate +2.6 %, 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 Company

How large is the market capitalisation of New China Life Insurance Company (NWWCF)?

The market capitalisation of New China Life Insurance Company is $19.3B. 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 Company (NWWCF)?

The price-to-sales ratio of New China Life Insurance Company is 0.95 (P/E × margin). 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 Company (NWWCF)?

Earnings per share at New China Life Insurance Company are $1.75 (price ÷ EPS = P/E 3.5). Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of New China Life Insurance Company (NWWCF)?

The net margin of New China Life Insurance Company is 27.0% (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 New China Life Insurance Company (NWWCF)?

The return on equity (ROE) of New China Life Insurance Company is 36.3% (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 New China Life Insurance Company (NWWCF)?

On an EBIT basis the return on assets of New China Life Insurance Company 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 Company (NWWCF)?

The operating margin of New China Life Insurance Company is 50.1% (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 Company (NWWCF)?

Revenue at New China Life Insurance Company is growing +3.2% versus a year earlier (3y avg +7.0%). 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 Company (NWWCF)?

Earnings per share at New China Life Insurance Company are growing +10.1% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does New China Life Insurance Company (NWWCF) generate?

The free cash flow of New China Life Insurance Company is 153B 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 Company (NWWCF) carry?

The net debt of New China Life Insurance Company is 170B CNY (fiscal year 2025, ≈ 1.1 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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