Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

New China Life Insurance Company Ltd. (601336.SS)

Company Dividend Discount ModelIndustry: Insurance - LifeSector: Financial Services

Valuation Snapshot

Stable Growth$843.57 - $2,448.25$2,294.37
Multi-Stage$334.10 - $365.78$349.65
Blended Fair Value$1,322.01
Current Price$61.16
Upside2,061.56%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.36%14.61%1.511.351.621.391.410.770.570.690.580.51
YoY Growth--11.17%-16.54%16.81%-1.43%83.14%33.97%-16.21%17.97%13.52%32.95%
Dividend Yield--2.92%4.44%5.32%3.93%2.90%1.93%1.03%1.49%1.38%1.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)38,406.00
(-) Cash Dividends Paid (M)9,032.00
(=) Cash Retained (M)29,374.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7,681.204,800.752,880.45
Cash Retained (M)29,374.0029,374.0029,374.00
(-) Cash Required (M)-7,681.20-4,800.75-2,880.45
(=) Excess Retained (M)21,692.8024,573.2526,493.55
(/) Shares Outstanding (M)3,119.773,119.773,119.77
(=) Excess Retained per Share6.957.888.49
LTM Dividend per Share2.902.902.90
(+) Excess Retained per Share6.957.888.49
(=) Adjusted Dividend9.8510.7711.39
WACC / Discount Rate6.73%6.73%6.73%
Growth Rate5.50%6.50%7.50%
Fair Value$843.57$2,294.37$2,448.25
Upside / Downside1,279.28%3,651.42%3,903.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)38,406.0040,902.3943,561.0546,392.5149,408.0352,619.5554,198.13
Payout Ratio23.52%36.81%50.11%63.41%76.70%90.00%92.50%
Projected Dividends (M)9,032.0015,057.6921,828.5729,416.0437,897.6547,357.5950,133.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.73%6.73%6.73%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)13,975.5214,107.9914,240.46
Year 2 PV (M)18,803.7419,161.9019,523.44
Year 3 PV (M)23,518.6624,193.8024,881.73
Year 4 PV (M)28,122.2629,203.7730,316.17
Year 5 PV (M)32,616.4834,191.8735,827.55
PV of Terminal Value (M)925,270.24969,961.141,016,362.47
Equity Value (M)1,042,306.911,090,820.461,141,151.81
Shares Outstanding (M)3,119.773,119.773,119.77
Fair Value$334.10$349.65$365.78
Upside / Downside446.27%471.69%498.07%

High-Yield Dividend Screener

« Prev Page 3 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
1272.HKDatang Environment Industry Group Co., Ltd.13.53%$0.1542.28%
MID-UN.TOMINT Income Fund13.47%$1.0661.55%
1126.HKDream International Limited13.45%$1.1550.50%
HCO.PAHigh Co. S.A.13.45%$0.5362.33%
2348.HKDawnrays Pharmaceutical (Holdings) Limited13.44%$0.1633.06%
0384.HKChina Gas Holdings Limited13.43%$1.0494.76%
AEFAbrdn Emerging Markets Equity Income Fund Inc13.42%$0.9661.57%
9616.HKNeutech Group Limited13.40%$0.3455.10%
WN-PA.TOGeorge Weston Limited13.36%$3.4127.39%
CY4.FKelsian Group Limited13.31%$0.3278.26%
1100.HKMainland Headwear Holdings Limited13.28%$0.1742.95%
1755.HKS-Enjoy Service Group Co., Limited13.28%$0.3733.22%
DRR.AXDeterra Royalties Limited13.28%$0.5593.57%
2942.TWOJing-Jan Retail Business Co., Ltd.13.27%$4.1962.94%
1985.HKMicroware Group Limited13.26%$0.1768.95%
SSG.AXShaver Shop Group Limited13.25%$0.2086.08%
1553.HKMaike Tube Industry Holdings Limited13.22%$0.2027.92%
3306.HKJNBY Design Limited13.22%$2.5577.85%
0363.HKShanghai Industrial Holdings Limited13.17%$1.9035.00%
0579.HKBeijing Jingneng Clean Energy Co., Limited13.09%$0.3042.68%
RI.PAPernod Ricard S.A.13.06%$9.5377.43%
VULC3.SAVulcabras S.A.13.05%$2.6060.16%
600919.SSBank of Jiangsu Co., Ltd.13.01%$1.3572.63%
1551.HKGuangzhou Rural Commercial Bank Co., Ltd.13.00%$0.2058.85%
EIT-UN.TOCanoe EIT Income Fund13.00%$2.0542.34%
4334.SRAl Maather Reit Fund12.98%$1.1689.22%
BCE-PA.TOBCE Inc.12.97%$2.7139.91%
HLO.AXHelloworld Travel Limited12.97%$0.2567.50%
4347.SRBonyan REIT Fund12.96%$1.2193.24%
1526.HKRici Healthcare Holdings Limited12.94%$0.1438.91%
3709.HKEEKA Fashion Holdings Limited12.93%$0.9958.41%
ELSA.JKPT Elnusa Tbk12.90%$65.7979.08%
3348.HKChina PengFei Group Limited12.88%$0.1642.43%
BAYU.JKPT Bayu Buana Tbk12.87%$175.0059.18%
MJLF.BKMajor Cineplex Lifestyle Leasehold Property Fund.12.81%$0.6246.37%
037460.KQSamji Electronics Co., Ltd.12.80%$1,880.7647.73%
1785.HKChengdu Expressway Co., Ltd.12.79%$0.2688.07%
GWO-PN.TOGreat-West Lifeco Inc.12.76%$2.3953.09%
UNC.TOUnited Corporations Limited12.75%$1.8760.14%
FDJ.PAFDJ United12.74%$3.8390.91%
IRAO.MEPJSC Inter RAO UES12.74%$0.3919.11%
0OGG.LS.A. Catana Group12.72%$0.3722.37%
TAPG.JKPT Triputra Agro Persada Tbk12.65%$191.0090.66%
2407.HKGaush Meditech Ltd12.64%$1.0277.13%
MPCK.DEMPC Münchmeyer Petersen Capital AG12.63%$0.6260.64%
EDL.DEEdel SE & Co. KGaA12.60%$0.5754.20%
0086.HKSun Hung Kai & Co. Limited12.59%$0.5294.25%
4340.SRAl Rajhi REIT Fund12.56%$1.0083.50%
TRMDTORM plc12.54%$2.4890.35%
0819.HKTianneng Power International Limited12.50%$0.8935.06%