# Samsung Life (032830.KO)

Canonical: https://gigainvestors.com/s/032830.KO

Analysis as of: 2026-10-16T07:34:19.415Z. Financial observations: FY2017–FY2026.

Listing currency: KRW. Reporting currency: KRW.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: KRW 228,000.00 per share; close as of 2026-10-15.

Estimated value: low KRW 136,616.10 per share, central KRW 155,333.70 per share, high KRW 179,994.53 per share. Buy at or below the central value KRW 155,333.70 per share. Valuation as of 2026-10-16T07:34:19.415Z; scenarios are not confidence intervals.

Expected annual return: 7.7% at the stated quote. About 7.7% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; KR 10-year bond 4.2% + 4 points).

## Checklist

### understandable: pass

- Financial history: 9 years

- Profitable years in the last ten: 9

- Required profitable years: 8

- Return on common equity variation (informational): 0.30×

Chart: Net income; fiscal year observations.

- FY2017: KRW 1.17T

- FY2018: KRW 1.66T

- FY2019: KRW 977B

- FY2020: KRW 1.27T

- FY2021: KRW 1.47T

- FY2022: KRW 1.58T

- FY2023: KRW 1.90T

- FY2024: KRW 2.11T

- FY2025: KRW 2.30T

### moat: fail

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- median return on common equity below threshold

- Bank / P&C ROTE, median of available years: 4.0%

- Required median return: 10.0%

- Return uses tangible common equity: No

- Bank ROTE, second-lowest year: 3.0%

- Years with reported combined ratio: 0

Chart: Return on common equity; fiscal year observations.

- FY2017: 4.0%

- FY2018: 5.8%

- FY2019: 2.7%

- FY2020: 3.0%

- FY2021: 3.9%

- FY2022: 7.1%

- FY2023: 4.5%

- FY2024: 5.8%

- FY2025: 3.7%

### economics: fail

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- book value per share plus dividends compounded below 7% annually

- Book value per share + reinvested dividends, annualized return: 5.7%

- Book return interval: 8 years

- Starting book value per share: KRW 253K

- Ending book value per share: KRW 349K

Chart: Annual book + dividend return; fiscal year observations.

- FY2018: -35.6%

- FY2019: 25.2%

- FY2020: 18.8%

- FY2021: -8.6%

- FY2022: -39.5%

- FY2023: 93.1%

- FY2024: -13.2%

- FY2025: 76.2%

### management: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Diluted shares, 10-year annual growth: 5.6%

- Diluted shares, 5-year annual growth: -0.0%

- Share growth excluding flagged crisis recapitalisations: 5.6%

- Five-year share growth excluding flagged crisis recapitalisations: -0.0%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 2.00×

- Book value created per share: KRW 96K

- Earnings retained per share after dividends and buybacks: KRW 48K

Chart: Shares (first year = 100); fiscal year observations.

- FY2017: 100

- FY2018: 155

- FY2019: 155

- FY2020: 155

- FY2021: 155

- FY2022: 155

- FY2023: 155

- FY2024: 155

- FY2025: 155

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

Down 43% since Jun 2026 · net income +21.7%

Story as of 2026-10-16T10:00:00.098Z; price observation 2026-10-15.

The price assumes profits grow 5% a year forever

### Net income · FY2026

net income +21.7%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2017: KRW 1.17T 

- FY2018: KRW 1.66T 

- FY2019: KRW 977B 

- FY2020: KRW 1.27T 

- FY2021: KRW 1.47T 

- FY2022: KRW 1.58T 

- FY2023: KRW 1.90T 

- FY2024: KRW 2.11T 

- FY2025: KRW 2.30T 

- FY2026: KRW 2.80T 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in insurance life; annual sales are KRW 28.5 trillion.

- Source: https://eodhd.com/api/fundamentals/032830.KO.json#2025-12-31 (filed 2026-10-16T07:34:19.415Z); FY2025: revenue 28491301000000.

### Why customers stay

It earns 4% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:19.415Z); 9-year return on tangible equity observations [[2017,0.039719442253838326],[2018,0.05758690010488513],[2019,0.02740320144900178],[2020,0.03021299804868152],[2021,0.03886132290286494],[2022,0.07106026574288579],[2023,0.04466090960168838],[2024,0.058365333295953024],[2025,0.03671363645117675]]; median 0.039719442253838326. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 9 of 9 years; bought back KRW 987.5 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:19.415Z); Dividend observations: [[2017,255018000000],[2018,398677000000],[2019,513403000000],[2020,475873000000],[2021,491150000000],[2022,592663000000],[2023,597354000000],[2024,723056000000],[2025,874446000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:19.415Z); FY2025: cash repurchases 987500158.3333333 KRW.

### Are managers owners

Insiders own 49.8% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 032830.KO SharesStats.PercentInsiders = 49.79 percentage points; cache date 2026-10-16.

### What the price says

The price assumes profits grow 5% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:19.415Z); Price 228000; FX 1; original perpetual distributable cash 11337.501035046393; discount 0.1; growth 0.050274118267340386. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (KRW per share)

- 2016-10: KRW 110,500.00 per share

- 2016-11: KRW 114,000.00 per share

- 2016-12: KRW 112,500.00 per share

- 2017-01: KRW 111,000.00 per share

- 2017-02: KRW 107,000.00 per share

- 2017-03: KRW 108,500.00 per share

- 2017-04: KRW 109,500.00 per share

- 2017-05: KRW 122,000.00 per share

- 2017-06: KRW 117,000.00 per share

- 2017-07: KRW 125,500.00 per share

- 2017-08: KRW 115,500.00 per share

- 2017-09: KRW 113,000.00 per share

- 2017-10: KRW 135,000.00 per share

- 2017-11: KRW 128,000.00 per share

- 2017-12: KRW 124,500.00 per share

- 2018-01: KRW 129,000.00 per share

- 2018-02: KRW 121,500.00 per share

- 2018-03: KRW 116,000.00 per share

- 2018-04: KRW 117,000.00 per share

- 2018-05: KRW 103,000.00 per share

- 2018-06: KRW 98,400.00 per share

- 2018-07: KRW 96,300.00 per share

- 2018-08: KRW 92,500.00 per share

- 2018-09: KRW 97,300.00 per share

- 2018-10: KRW 92,000.00 per share

- 2018-11: KRW 86,500.00 per share

- 2018-12: KRW 81,600.00 per share

- 2019-01: KRW 88,300.00 per share

- 2019-02: KRW 88,700.00 per share

- 2019-03: KRW 84,100.00 per share

- 2019-04: KRW 84,900.00 per share

- 2019-05: KRW 80,800.00 per share

- 2019-06: KRW 83,600.00 per share

- 2019-07: KRW 76,100.00 per share

- 2019-08: KRW 68,200.00 per share

- 2019-09: KRW 71,100.00 per share

- 2019-10: KRW 70,600.00 per share

- 2019-11: KRW 71,600.00 per share

- 2019-12: KRW 74,500.00 per share

- 2020-01: KRW 69,500.00 per share

- 2020-02: KRW 58,500.00 per share

- 2020-03: KRW 43,000.00 per share

- 2020-04: KRW 49,100.00 per share

- 2020-05: KRW 45,700.00 per share

- 2020-06: KRW 44,700.00 per share

- 2020-07: KRW 47,550.00 per share

- 2020-08: KRW 61,200.00 per share

- 2020-09: KRW 61,000.00 per share

- 2020-10: KRW 63,200.00 per share

- 2020-11: KRW 71,300.00 per share

- 2020-12: KRW 79,100.00 per share

- 2021-01: KRW 70,600.00 per share

- 2021-02: KRW 75,000.00 per share

- 2021-03: KRW 78,100.00 per share

- 2021-04: KRW 81,700.00 per share

- 2021-05: KRW 83,800.00 per share

- 2021-06: KRW 79,800.00 per share

- 2021-07: KRW 75,400.00 per share

- 2021-08: KRW 74,500.00 per share

- 2021-09: KRW 73,400.00 per share

- 2021-10: KRW 67,300.00 per share

- 2021-11: KRW 59,800.00 per share

- 2021-12: KRW 64,100.00 per share

- 2022-01: KRW 60,400.00 per share

- 2022-02: KRW 59,800.00 per share

- 2022-03: KRW 65,900.00 per share

- 2022-04: KRW 65,100.00 per share

- 2022-05: KRW 68,100.00 per share

- 2022-06: KRW 62,600.00 per share

- 2022-07: KRW 60,700.00 per share

- 2022-08: KRW 62,000.00 per share

- 2022-09: KRW 62,400.00 per share

- 2022-10: KRW 67,400.00 per share

- 2022-11: KRW 73,400.00 per share

- 2022-12: KRW 71,000.00 per share

- 2023-01: KRW 70,900.00 per share

- 2023-02: KRW 68,100.00 per share

- 2023-03: KRW 62,800.00 per share

- 2023-04: KRW 66,300.00 per share

- 2023-05: KRW 66,300.00 per share

- 2023-06: KRW 67,300.00 per share

- 2023-07: KRW 69,800.00 per share

- 2023-08: KRW 67,600.00 per share

- 2023-09: KRW 70,300.00 per share

- 2023-10: KRW 72,300.00 per share

- 2023-11: KRW 70,000.00 per share

- 2023-12: KRW 69,100.00 per share

- 2024-01: KRW 69,300.00 per share

- 2024-02: KRW 96,900.00 per share

- 2024-03: KRW 92,300.00 per share

- 2024-04: KRW 87,500.00 per share

- 2024-05: KRW 84,300.00 per share

- 2024-06: KRW 88,500.00 per share

- 2024-07: KRW 96,500.00 per share

- 2024-08: KRW 97,200.00 per share

- 2024-09: KRW 93,200.00 per share

- 2024-10: KRW 101,500.00 per share

- 2024-11: KRW 107,100.00 per share

- 2024-12: KRW 94,800.00 per share

- 2025-01: KRW 89,100.00 per share

- 2025-02: KRW 86,800.00 per share

- 2025-03: KRW 82,900.00 per share

- 2025-04: KRW 86,200.00 per share

- 2025-05: KRW 98,900.00 per share

- 2025-06: KRW 127,400.00 per share

- 2025-07: KRW 125,900.00 per share

- 2025-08: KRW 143,100.00 per share

- 2025-09: KRW 156,600.00 per share

- 2025-10: KRW 154,300.00 per share

- 2025-11: KRW 152,900.00 per share

- 2025-12: KRW 157,600.00 per share

- 2026-01: KRW 188,300.00 per share

- 2026-02: KRW 230,000.00 per share

- 2026-03: KRW 210,500.00 per share

- 2026-04: KRW 249,500.00 per share

- 2026-05: KRW 388,500.00 per share

- 2026-06: KRW 401,000.00 per share

- 2026-07: KRW 311,500.00 per share

- 2026-08: KRW 306,000.00 per share

- 2026-09: KRW 282,000.00 per share

- 2026-10: KRW 256,000.00 per share

## Annual estimated value (KRW per share)

- FY2021: low KRW 74,389.67 per share, central KRW 81,828.64 per share, high KRW 90,920.71 per share

- FY2022: low KRW 44,316.50 per share, central KRW 48,748.15 per share, high KRW 54,164.62 per share

- FY2023: low KRW 87,166.16 per share, central KRW 95,882.78 per share, high KRW 106,536.42 per share

- FY2024: low KRW 77,709.02 per share, central KRW 85,479.92 per share, high KRW 94,977.69 per share

- FY2025: low KRW 129,319.43 per share, central KRW 142,251.38 per share, high KRW 158,057.08 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations