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

PIAIF Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	552,138	550,830	536,210	525,903	739,933	757,599
Total Interest & Dividend Income	29,683	44,184	87,382	107,162	200,459	182,834
Gain (Loss) on Sale of Investments	63,171	63,171	-60,312	-57,069	-11,605	40,693
Non-Insurance Activities Revenue	237,340	243,747	273,358	274,766	264,963	250,753
Other Revenue	63,335	61,712	70,238	33,881	79,266	88,020
Total Revenue	945,667	963,644	906,876	884,643	1,273,016	1,319,899
Revenue Growth (YoY)	4.84%	6.26%	2.51%	-30.51%	-3.55%	3.97%
Policy Benefits	453,294	452,703	443,909	426,535	618,662	614,751
Policy Acquisition & Underwriting Costs	-	-	-	-	80,711	102,021
Selling, General & Administrative	82,528	80,473	80,212	76,401	174,783	178,708
Provision for Bad Debts	462	462	152	-23	242	417
Non-Insurance Activities Expense	105,979	111,889	117,378	107,616	102,011	98,587
Other Operating Expenses	48,461	47,586	41,328	32,948	41,450	35,912
Total Operating Expenses	762,932	764,396	754,920	722,315	1,104,333	1,105,527
Operating Income	182,735	199,248	151,956	162,328	168,683	214,372
Interest Expense	-27,496	-26,376	-31,496	-22,698	-28,082	-26,436
Currency Exchange Gain (Loss)	914	380	120	3,144	1,267	2,219
Other Non Operating Income (Expenses)	-2,757	-2,757	-463	-439	-2,288	-2,391
EBT Excluding Unusual Items	153,396	170,495	120,117	142,335	139,580	187,764
Asset Writedown	15	-	-	-	-	-
Pretax Income	153,411	170,495	120,117	142,335	139,580	187,764
Income Tax Expense	16,569	23,762	10,843	7,518	17,778	28,405
Earnings From Continuing Ops.	136,842	146,733	109,274	134,817	121,802	159,359
Minority Interest in Earnings	-19,928	-20,126	-23,609	-23,809	-20,184	-16,260
Net Income	116,914	126,607	85,665	111,008	101,618	143,099
Net Income to Common	116,914	126,607	85,665	111,008	101,618	143,099
Net Income Growth	39.15%	47.79%	-22.83%	9.24%	-28.99%	-4.22%
Shares Outstanding (Basic)	17,645	17,693	17,717	17,454	17,607	17,675
Shares Outstanding (Diluted)	18,276	18,107	18,074	17,710	17,771	17,795
Shares Change (YoY)	1.01%	0.18%	2.05%	-0.34%	-0.14%	-0.21%
EPS (Basic)	6.63	7.16	4.84	6.36	5.77	8.10
EPS (Diluted)	6.39	6.99	4.74	6.27	5.72	8.04
EPS Growth	37.70%	47.47%	-24.40%	9.62%	-28.86%	-4.06%
Free Cash Flow	543,719	375,796	352,593	467,905	77,930	302,080
Free Cash Flow Per Share	29.75	20.75	19.51	26.42	4.38	16.98
Dividend Per Share	2.550	2.550	2.430	2.420	2.380	2.200
Dividend Growth	4.94%	4.94%	0.41%	1.68%	8.18%	7.32%
Operating Margin	19.32%	20.68%	16.76%	18.35%	13.25%	16.24%
Profit Margin	12.36%	13.14%	9.45%	12.55%	7.98%	10.84%
Free Cash Flow Margin	57.50%	39.00%	38.88%	52.89%	6.12%	22.89%
EBITDA	193,578	210,630	165,496	174,534	178,062	222,808
EBITDA Margin	20.47%	21.86%	18.25%	19.73%	13.99%	16.88%
D&A For EBITDA	10,843	11,382	13,540	12,206	9,379	8,436
EBIT	182,735	199,248	151,956	162,328	168,683	214,372
EBIT Margin	19.32%	20.68%	16.76%	18.35%	13.25%	16.24%
Effective Tax Rate	10.80%	13.94%	9.03%	5.28%	12.74%	15.13%
Revenue as Reported	1,122,071	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.