Indara Insurance Public Company Limited (INSURE) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Indara Insurance Public Company Limited THB 81.55, price THB 45.75, upside +78.3%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 24.57 THB – 528.27 THB · the 45.75 THB price screens below the 81.55 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Indara Insurance Public Company Limited provides non-life insurance services in Thailand. It offers fire, marine and transportation, motor, personal accident, health, cargo and hull, engineering, car, property, and miscellaneous insurance products. The company was formerly known as Inter life Insurance Company Limited.
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Indara Insurance Public Company Limited provides non-life insurance services in Thailand. It offers fire, marine and transportation, motor, personal accident, health, cargo and hull, engineering, car, property, and miscellaneous insurance products. The company was formerly known as Inter life Insurance Company Limited. Indara Insurance Public Company Limited was founded in 1949 and is headquartered in Bangkok, Thailand. Indara Insurance Public Company Limited is a subsidiary of Thai Group Holdings Public Company Limited.
Stock analysis
Indara Insurance Public Company Limited (INSURE) currently trades at 45.75 THB, while our model-based Fair Value estimate is 81.55 THB, implying the stock looks roughly 43.9% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 151.24 THB per share, and 4 of the 6 models we run sit above the 45.75 THB price.
Bear case: the Multiples group reads lowest at 24.12 THB, and 2 of the 6 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Indara Insurance Public Company Limited reported revenue of 5.9B THB in FY2025 versus 328M THB in FY2021, a compound +106.1%/yr. Reported net income was 22.3M THB in FY2025, compounding +12.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 612M THB (≈ $18.3M) · P/E ratio 20.2 · P/S ratio 0.08 · EPS (TTM) 2.27 THB · Net margin 0.4% · Return on equity 1.9% · Return on assets (EBIT) 2.7% · Operating margin −9.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 78%, INSURE screens cheaper than that median.
Fair Value models
Bear 81.55 THBFair Value 81.55 THBBull 81.55 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.67 THB 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.Evidence ⓘEvidence = 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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+101.9%
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.
+23.9%
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.
+80.2%
Start year 2020 (pandemic). Over 10 years: +24.4% a year
Revenue growth 25 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.
+15.8%
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What shareholders gained per year (last 5 years), in THB ⓘ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 THB: 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.
+5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs −8%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−7% → 0%
Compare Indara Insurance Public Company Limited with another stock
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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 · 119 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Indara Insurance Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/INSURE
Frequently asked questions
Is Indara Insurance Public Company Limited (INSURE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 81.55 THB versus a price of 45.75 THB, about +78% upside (undervalued).
What is the fair value of INSURE?
Our model-based fair value for Indara Insurance Public Company Limited is 81.55 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 45.75 THB.
What is the quality score of INSURE?
Indara Insurance Public Company Limited has a Quality Score of 46/100. 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 Indara Insurance Public Company Limited (INSURE)?
Our model-based price target is the fair value of 81.55 THB (as of Sep 24, 2026) from 6 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Indara Insurance Public Company Limited stock forecast for 2026?
Our models put fair value at 81.55 THB, about +78% upside versus a price of 45.75 THB (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Indara Insurance Public Company Limited (INSURE)?
Indara Insurance Public Company Limited reported trailing-twelve-month revenue of about 6.0B THB (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Indara Insurance Public Company Limited (INSURE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indara Insurance Public Company Limited it is 81.55 THB per share (as of Sep 24, 2026), against a price of 45.75 THB. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Indara Insurance Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, INSURE trades below its calculated fair value: price 45.75 THB, fair value 81.55 THB, a gap of about +78% (undervalued). 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 INSURE?
No. The price is what the market pays today (45.75 THB); the fair value is what the company's own numbers justify (81.55 THB). For Indara Insurance Public Company Limited the two are 35.80 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Indara Insurance Public Company Limited worth?
The market values Indara Insurance Public Company Limited at about 612M THB (market capitalisation, as of Sep 24, 2026). Per share that is 45.75 THB; our models calculate a fair value of 81.55 THB per share.
What is the P/E ratio of INSURE?
Indara Insurance Public Company Limited trades at a price-to-earnings ratio of 20.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 81.55 THB is built from several models across several years. Other multiples: PEG 2.4, P/B 0.4, P/S 0.1.
What is the PEG ratio of INSURE?
The PEG ratio of Indara Insurance Public Company Limited is 2.43 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Indara Insurance Public Company Limited (INSURE)?
Balance-sheet figures for Indara Insurance Public Company Limited (as of Sep 24, 2026): return on equity 1.9%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is INSURE from its 52-week high?
Indara Insurance Public Company Limited trades at 45.75 THB, about 41% below its 52-week high of 77.00 THB and 3% above the low of 44.50 THB (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of 81.55 THB is for.
Which stocks are comparable to Indara Insurance Public Company Limited?
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 Indara Insurance Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 45.75 THB, calculated fair value 81.55 THB (+78%), Quality Score 46/100, 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 INSURE calculated?
We run Indara Insurance Public Company Limited through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 81.55 THB, 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 14.0 % above its aggregate fair value. Indara Insurance Public Company Limited currently trades 78 % below its own fair value, and the market average says nothing about that. 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 Indara Insurance Public Company Limited (INSURE)?
The closing price on Sep 22, 2026 was 45.75 THB. Our model-based fair value is 81.55 THB, about +78% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indara Insurance Public Company Limited right now?
The price is below even our cautious bear case (81.55 THB). The market is more pessimistic than our downside scenario. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Indara Insurance Public Company Limited (INSURE) come from?
Earnings per share at Indara Insurance Public Company Limited grew +12.9 % a year from 2015 to 2025. Broken into its drivers: revenue per share +24.6 %, EBIT margin −7.9 %, tax rate −1.6 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indara Insurance Public Company Limited
How large is the market capitalisation of Indara Insurance Public Company Limited (INSURE)?
The market capitalisation of Indara Insurance Public Company Limited is 612M THB (≈ $18.3M). 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 Indara Insurance Public Company Limited (INSURE)?
The price-to-sales ratio of Indara Insurance Public Company Limited is 0.08 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indara Insurance Public Company Limited (INSURE)?
Earnings per share at Indara Insurance Public Company Limited are 2.27 THB (price ÷ EPS = P/E 20.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Indara Insurance Public Company Limited (INSURE)?
The net margin of Indara Insurance Public Company Limited is 0.4% (fiscal year 2025). 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 Indara Insurance Public Company Limited (INSURE)?
The return on equity (ROE) of Indara Insurance Public Company Limited is 1.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indara Insurance Public Company Limited (INSURE)?
On an EBIT basis the return on assets of Indara Insurance Public Company Limited is 2.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indara Insurance Public Company Limited (INSURE)?
The operating margin of Indara Insurance Public Company Limited is −9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indara Insurance Public Company Limited (INSURE)?
Revenue at Indara Insurance Public Company Limited is growing +7.7% versus a year earlier (3y avg +23.9%). 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 Indara Insurance Public Company Limited (INSURE)?
Earnings per share at Indara Insurance Public Company Limited are growing −43.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indara Insurance Public Company Limited (INSURE) generate?
The free cash flow of Indara Insurance Public Company Limited is 353M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Indara Insurance Public Company Limited (INSURE) hold?
Indara Insurance Public Company Limited holds more cash than debt, 773M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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