Mercuries Life Insurance Company (2867) Fair Value & Analysis
Financial Services · TW · Market cap 54.5B TWD
Fair value as of: Jul 21, 2026
From 6 valuation models · updated 20 days ago
Share price +10.7% over the past month.
Below-average quality, and screening another 77% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (2.76 TWD). The favourable scenario is already priced in.
- Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 4.80 TWD – 10.70 TWD · fair‑value band 1.66 TWD – 2.76 TWD · the 9.81 TWD price screens above the 2.21 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Mercuries Life Insurance Company (2867) currently trades at 9.81 TWD, while our model-based Fair Value estimate is 2.21 TWD, implying the stock looks roughly 77.5% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Mercuries Life Insurance Company generated revenue of 124B TWD at a net margin of 1.0%. Revenue grew 63.2% year over year. It earns a return on equity of 2.9%. The balance sheet holds a net cash position of 6.5B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 1.66 TWD (bear case) to 2.76 TWD (bull case); at 9.81 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 1% fair-value upside, at -77%, 2867 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Asset-Based (8.78 TWD) versus Dividend Discount (0.9000 TWD). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 89
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Mercuries Life Insurance Company Ltd. provides life insurance products in Taiwan. The company offers health, life, accident, annuities, group, universal, and investment insurance products.
Full company description
Mercuries Life Insurance Company Ltd. provides life insurance products in Taiwan. The company offers health, life, accident, annuities, group, universal, and investment insurance products. It also provides term life, whole life, and pension insurance; immediate and deferred annuity; health, hospitalization, cancer or critical illness, and long-term care and disability insurance, and premium waiver/other; injury, accident, and travel insurance; investment; group; and others insurances. Mercuries Life Insurance Company Ltd. was incorporated in 1993 and is based in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Mercuries Life Insurance Company reported revenue of 117B TWD in FY2025 versus 143B TWD in FY2021, a compound −4.8%/yr. Reported net income was 1.2B TWD in FY2025, compounding +1.9%/yr from FY2021.
2867 screens 77% overvalued. Compare with China Life Insurance Company →
Peer Group
Insurance - Life · 95 stocks
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.
Valuation Multiples vs Insurance - Life median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥38.72 | ¥70.87 | +83% |
| Ping An Insurance (Group) Company 601318 | ¥49.60 | ¥96.76 | +95% |
| AIA Group 1299 | HK$75.55 | HK$7.88 | -90% |
| Manulife Financial Corporation MFC | C$58.52 | C$45.13 | -23% |
| Great-West Lifeco Inc GWO | C$92.34 | C$59.64 | -35% |
| Life Insurance Corporation LICI | ₹438.30 | ₹590.43 | +35% |
| Fubon Financial Holding 2881 | 124.50 TWD | 115.05 TWD | -8% |
| Cathay Financial Holding 2882 | 94.00 TWD | 94.95 TWD | +1% |
| Samsung Life Insurance Co 032830 | 337,500 KRW | 166,710 KRW | -51% |
| China Pacific Insurance (Group) Co 601601 | ¥29.75 | ¥59.50 | +100% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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