Military Insurance Corp (MIG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Military Insurance Corp stock VND 10,516, price VND 15,150, that is 30.6% below the price, quality 40 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 8,190 VND – 19,047 VND · fair‑value band 9,808 VND – 12,086 VND · the 15,150 VND price screens above the 10,516 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Military Insurance Corporation provides various insurance products and services in Vietnam. The company provides human, property, cargo, marine, liability, aviation, motor, technical, mixed, and energy insurances.
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It is also involved in non-life insurance, reinsurance; investment; activities such as aviation insurance, surety insurance, agricultural insurance; and insurance auxiliary activities. The company was founded in 2007 and is headquartered in Hanoi, Vietnam.
Military Insurance Corporation is a subsidiary of Military Commercial Joint Stock Bank.
Stock analysis
Military Insurance Corp (MIG) currently trades at 15,150 VND, while our model-based Fair Value estimate is 10,516 VND, 31% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 18,326 VND per share, and 2 of the 6 models we run sit above the 15,150 VND price.
Bear case: the Dividend Discount group reads lowest at 4,330 VND, and 4 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 9,808 VND (bear) to 12,086 VND (bull), the price of 15,150 VND sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Military Insurance Corp reported revenue of 4.2T VND in FY2025 versus 2.7T VND in FY2021, a compound +11.6%/yr. Reported net income was 325B VND in FY2025, compounding +9.8%/yr from FY2021.
Key figures
Market cap 3.2T VND (≈ $125M) Micro · P/E ratio 9.6 · P/S ratio 0.67 · EPS (TTM) 1,586 VND · Dividend yield 6.6% · Net margin 6.2% · Return on equity 11.2% · Return on assets 0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at −31%, MIG screens richer than that median.
Fair Value models
Bear9,808 VNDFair Value 10,516 VNDBull12,086 VND
Price 15,150 VND · Downside -30.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (502.86 VND per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+13.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in VND ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in VND: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.5%
Dividend (yield on the price)6.6%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+4.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about +0.3% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Property & Casualty · 100 stocks
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Is Military Insurance Corp (MIG) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 10,516 VND versus a price of 15,150 VND, about 31% lower (overvalued).
What is the fair value of MIG?
Our model-based fair value for Military Insurance Corp is 10,516 VND (as of Nov 8, 2026), built from audited fundamentals. The current price: 15,150 VND.
What is the quality score of MIG?
Military Insurance Corp has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Military Insurance Corp (MIG)?
Our model-based price target is the fair value of 10,516 VND (as of Nov 8, 2026) from 6 valuation models. Cautious scenario 9,808 VND, optimistic scenario 12,086 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Military Insurance Corp stock forecast for 2026?
Our models put fair value at 10,516 VND, about 31% lower versus a price of 15,150 VND (overvalued). Cautious scenario 9,808 VND, optimistic scenario 12,086 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Military Insurance Corp (MIG)?
Military Insurance Corp reported trailing-twelve-month revenue of about 4.8T VND (latest available figure, as of Nov 8, 2026).
Does Military Insurance Corp pay a dividend?
Military Insurance Corp currently shows a dividend yield of 6.60% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Military Insurance Corp (MIG) and when is the ex-dividend date?
Military Insurance Corp pays a dividend of 1,000 VND per share a year, a dividend yield of 6.6%. The last ex-dividend date was Aug 25, 2026. The payout ratio is 63.0% of earnings. Free cash flow covers the dividend 1.58 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Military Insurance Corp (MIG)?
For today's price to be fair in a discounted-cash-flow model, Military Insurance Corp would have to grow free cash flow by +4.4 % per year for five years (discount rate 14.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of MIG use?
Our models discount Military Insurance Corp at 14.9 %: a base by market capitalisation (micro), damped by beta 0.40, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Military Insurance Corp that is +4.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.9 %) and the same formula as our fair value.
How much growth has Military Insurance Corp (MIG) delivered so far?
Over the past 5 years revenue at Military Insurance Corp grew +11.5 % a year. The price currently implies free-cash-flow growth of +4.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Military Insurance Corp (MIG) growing?
The median revenue growth in the sector is +6.0 % a year. That is the yardstick for the growth priced into Military Insurance Corp (+4.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Military Insurance Corp (MIG)?
The free-cash-flow yield on the price is 10.43 %: that much free cash flow Military Insurance Corp produces per unit of market value. When it exceeds the discount rate of our models (14.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Military Insurance Corp (MIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Military Insurance Corp it is 10,516 VND per share (as of Nov 8, 2026), against a price of 15,150 VND. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Military Insurance Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, MIG trades above its calculated fair value: price 15,150 VND, fair value 10,516 VND, a gap of about −31% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MIG?
No. The price is what the market pays today (15,150 VND); the fair value is what the company's own numbers justify (10,516 VND). For Military Insurance Corp the two are 4,634 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Military Insurance Corp worth?
The market values Military Insurance Corp at about 3.2T VND (market capitalisation, as of Nov 8, 2026). Per share that is 15,150 VND; our models calculate a fair value of 10,516 VND per share.
What do the bullish and bearish scenarios say about MIG?
Our models span a range for Military Insurance Corp: cautious scenario 9,808 VND, base 10,516 VND, optimistic 12,086 VND per share (as of Nov 8, 2026, price 15,150 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MIG?
Military Insurance Corp trades at a price-to-earnings ratio of 9.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10,516 VND is built from several models across several years. Other multiples: P/B 1.2, P/S 0.7, EV/EBITDA 18.5.
How solid is the balance sheet of Military Insurance Corp (MIG)?
Balance-sheet figures for Military Insurance Corp (as of Nov 8, 2026): return on equity 11.2%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is MIG from its 52-week high?
Military Insurance Corp trades at 15,150 VND, about 20% below its 52-week high of 19,047 VND and 1% above the low of 15,000 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 10,516 VND is for.
Which stocks are comparable to Military Insurance Corp?
From the same area (Financial Services) we also value Chubb Limited, The Progressive Corporation, The Travelers Companies, Inc, The Allstate Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Military Insurance Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 15,150 VND, calculated fair value 10,516 VND (−31%), Quality Score 40/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MIG calculated?
We run Military Insurance Corp through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 10,516 VND builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Military Insurance Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Military Insurance Corp (MIG)?
The closing price on Nov 6, 2026 was 15,150 VND. Our model-based fair value is 10,516 VND, about 31% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Military Insurance Corp right now?
The price sits above even our optimistic bull case (12,086 VND). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Military Insurance Corp
How large is the market capitalisation of Military Insurance Corp (MIG)?
The market capitalisation of Military Insurance Corp is 3.2T VND (≈ $125M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Military Insurance Corp (MIG)?
The price-to-sales ratio of Military Insurance Corp is 0.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Military Insurance Corp (MIG)?
Earnings per share at Military Insurance Corp are 1,586 VND (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Military Insurance Corp (MIG)?
The dividend yield of Military Insurance Corp is 6.6% (payout 63.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Military Insurance Corp (MIG)?
The net margin of Military Insurance Corp is 6.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Military Insurance Corp (MIG)?
The return on equity (ROE) of Military Insurance Corp is 11.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Military Insurance Corp (MIG)?
The return on assets (ROA) of Military Insurance Corp is 0.8% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Military Insurance Corp (MIG)?
The operating margin of Military Insurance Corp is 2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Military Insurance Corp (MIG)?
Revenue at Military Insurance Corp is growing +8.1% versus a year earlier (3y avg +4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Military Insurance Corp (MIG)?
Earnings per share at Military Insurance Corp are growing +9.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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Thin data
Nov 8, 2026