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

PNGAY Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	544,979	536,210	525,903	739,933	757,599	748,779
Total Interest & Dividend Income	142,212	87,382	107,162	200,459	182,834	103,374
Gain (Loss) on Sale of Investments	-51,273	-51,273	-57,069	-11,605	40,693	94,744
Non-Insurance Activities Revenue	250,184	273,358	274,766	264,963	250,753	231,421
Other Revenue	54,796	61,199	33,881	79,266	88,020	91,153
Total Revenue	940,898	906,876	884,643	1,273,016	1,319,899	1,269,471
Revenue Growth (YoY)	5.10%	2.51%	-30.51%	-3.55%	3.97%	18.86%
Policy Benefits	448,485	443,909	426,535	618,662	614,751	578,313
Policy Acquisition & Underwriting Costs	-	-	-	80,711	102,021	114,766
Selling, General & Administrative	78,944	80,212	76,401	174,783	178,708	174,870
Provision for Bad Debts	152	152	-23	242	417	202
Non-Insurance Activities Expense	115,460	117,378	107,616	102,011	98,587	97,004
Other Operating Expenses	47,088	48,478	32,948	41,450	35,912	36,814
Total Operating Expenses	760,214	762,070	722,315	1,104,333	1,105,527	1,063,417
Operating Income	180,684	144,806	162,328	168,683	214,372	206,054
Interest Expense	-20,592	-24,346	-22,698	-28,082	-26,436	-20,098
Currency Exchange Gain (Loss)	-594	120	3,144	1,267	2,219	779
Other Non Operating Income (Expenses)	-463	-463	-439	-2,288	-2,391	-
EBT Excluding Unusual Items	159,035	120,117	142,335	139,580	187,764	186,735
Asset Writedown	207	-	-	-	-	-1,996
Pretax Income	159,242	120,117	142,335	139,580	187,764	184,739
Income Tax Expense	18,025	10,843	7,518	17,778	28,405	20,374
Earnings From Continuing Ops.	141,217	109,274	134,817	121,802	159,359	164,365
Minority Interest in Earnings	-23,945	-23,609	-23,809	-20,184	-16,260	-14,958
Net Income	117,272	85,665	111,008	101,618	143,099	149,407
Net Income to Common	117,272	85,665	111,008	101,618	143,099	149,407
Net Income Growth	10.84%	-22.83%	9.24%	-28.99%	-4.22%	39.11%
Shares Outstanding (Basic)	17,703	17,717	17,454	17,607	17,675	17,769
Shares Outstanding (Diluted)	18,116	18,074	17,710	17,771	17,795	17,833
Shares Change (YoY)	0.80%	2.06%	-0.34%	-0.13%	-0.21%	-0.17%
EPS (Basic)	6.62	4.84	6.36	5.77	8.10	8.41
EPS (Diluted)	6.47	4.74	6.27	5.72	8.04	8.38
EPS Growth	9.93%	-24.40%	9.62%	-28.86%	-4.06%	39.43%
Free Cash Flow	459,909	352,593	467,905	77,930	302,080	237,235
Free Cash Flow Per Share	25.39	19.51	26.42	4.39	16.98	13.30
Dividend Per Share	2.430	2.430	2.420	2.380	2.200	2.050
Dividend Growth	0%	0.41%	1.68%	8.18%	7.32%	19.19%
Operating Margin	19.20%	15.97%	18.35%	13.25%	16.24%	16.23%
Profit Margin	12.46%	9.45%	12.55%	7.98%	10.84%	11.77%
Free Cash Flow Margin	48.88%	38.88%	52.89%	6.12%	22.89%	18.69%
EBITDA	195,225	158,346	174,534	178,062	222,808	213,890
EBITDA Margin	20.75%	17.46%	19.73%	13.99%	16.88%	16.85%
D&A For EBITDA	14,541	13,540	12,206	9,379	8,436	7,836
EBIT	180,684	144,806	162,328	168,683	214,372	206,054
EBIT Margin	19.20%	15.97%	18.35%	13.25%	16.24%	16.23%
Effective Tax Rate	11.32%	9.03%	5.28%	12.74%	15.13%	11.03%
Revenue as Reported	1,031,863	1,031,863	985,186	1,287,675	1,321,418	1,273,091

Source: S&P Capital IQ. Insurance template. Financial Sources.