Ping An Insurance (Group) Company of China, Ltd. (PIAIF)

PIAIF Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	550,830	536,210	525,903	739,933	757,599
Total Interest & Dividend Income	44,184	87,382	107,162	200,459	182,834
Gain (Loss) on Sale of Investments	63,171	-60,312	-57,069	-11,605	40,693
Non-Insurance Activities Revenue	243,747	273,358	274,766	264,963	250,753
Other Revenue	61,712	70,238	33,881	79,266	88,020
Total Revenue	963,644	906,876	884,643	1,273,016	1,319,899
Revenue Growth (YoY)	6.26%	2.51%	-30.51%	-3.55%	3.97%
Policy Benefits	452,703	443,909	426,535	618,662	614,751
Policy Acquisition & Underwriting Costs	-	-	-	80,711	102,021
Selling, General & Administrative	80,473	80,212	76,401	174,783	178,708
Provision for Bad Debts	462	152	-23	242	417
Non-Insurance Activities Expense	111,889	117,378	107,616	102,011	98,587
Other Operating Expenses	54,557	48,478	32,948	41,450	35,912
Total Operating Expenses	771,367	762,070	722,315	1,104,333	1,105,527
Operating Income	192,277	144,806	162,328	168,683	214,372
Interest Expense	-19,405	-24,346	-22,698	-28,082	-26,436
Currency Exchange Gain (Loss)	380	120	3,144	1,267	2,219
Other Non Operating Income (Expenses)	-2,757	-463	-439	-2,288	-2,391
EBT Excluding Unusual Items	170,495	120,117	142,335	139,580	187,764
Pretax Income	170,495	120,117	142,335	139,580	187,764
Income Tax Expense	23,762	10,843	7,518	17,778	28,405
Earnings From Continuing Ops.	146,733	109,274	134,817	121,802	159,359
Minority Interest in Earnings	-20,126	-23,609	-23,809	-20,184	-16,260
Net Income	126,607	85,665	111,008	101,618	143,099
Net Income to Common	126,607	85,665	111,008	101,618	143,099
Net Income Growth	47.79%	-22.83%	9.24%	-28.99%	-4.22%
Shares Outstanding (Basic)	17,693	17,717	17,454	17,607	17,675
Shares Outstanding (Diluted)	18,107	18,074	17,710	17,771	17,795
Shares Change (YoY)	0.18%	2.05%	-0.34%	-0.14%	-0.21%
EPS (Basic)	7.16	4.84	6.36	5.77	8.10
EPS (Diluted)	6.99	4.74	6.27	5.72	8.04
EPS Growth	47.47%	-24.40%	9.62%	-28.86%	-4.06%
Free Cash Flow	375,796	352,593	467,905	77,930	302,080
Free Cash Flow Per Share	20.75	19.51	26.42	4.38	16.98
Dividend Per Share	2.550	2.430	2.420	2.380	2.200
Dividend Growth	4.94%	0.41%	1.68%	8.18%	7.32%
Operating Margin	19.95%	15.97%	18.35%	13.25%	16.24%
Profit Margin	13.14%	9.45%	12.55%	7.98%	10.84%
Free Cash Flow Margin	39.00%	38.88%	52.89%	6.12%	22.89%
EBITDA	203,659	158,346	174,534	178,062	222,808
EBITDA Margin	21.13%	17.46%	19.73%	13.99%	16.88%
D&A For EBITDA	11,382	13,540	12,206	9,379	8,436
EBIT	192,277	144,806	162,328	168,683	214,372
EBIT Margin	19.95%	15.97%	18.35%	13.25%	16.24%
Effective Tax Rate	13.94%	9.03%	5.28%	12.74%	15.13%
Revenue as Reported	1,141,346	1,031,863	985,186	1,287,675	1,321,418

Updated Mar 19, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.