Military Insurance Corporation (MIG) Fair Value & Analysis
Financial Services · VN · Market cap 3.8T VND
Fair value as of: Jul 16, 2026
From 4 valuation models · updated 25 days ago
Fair value updated Jul 16, 2026, revised from 32,257 VND to 30,721 VND (−4.8%) since Jun 26, 2026. Share price −5.1% over the past month.
Below-average quality, screening 82% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (23,041 VND). The market is more pessimistic than our downside scenario.
- 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 16, 2026.
How to read this chart
60‑month range 9,704 VND – 26,136 VND · fair‑value band 23,041 VND – 38,402 VND · the 16,850 VND price screens below the 30,721 VND fair value. Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Military Insurance Corporation (MIG) currently trades at 16,850 VND, while our model-based Fair Value estimate is 30,721 VND, implying the stock looks roughly 82.3% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, Military Insurance Corporation generated revenue of 4.5T VND at a net margin of 7.3%. Revenue grew 3.2% year over year. It earns a return on equity of 12.5%. The stock trades on a trailing P/E of 11.5. Fundamentals as of Jul 16, 2026
Our scenario range runs from 23,041 VND (bear case) to 38,402 VND (bull case); at 16,850 VND, the current price sits below 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 about 21% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 8% fair-value upside, at 82%, MIG screens cheaper 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 4 models by family
Widest divergence: Multiples (26,113 VND) versus Asset-Based (8,324 VND). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 50
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
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Military Insurance Corporation 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.
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Peer Group
Insurance - Property & Casualty · 120 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 - Property & Casualty 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.
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 - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Progressive Corporation PGR | $234.48 | $252.50 | +8% |
| Chubb Limited CB | $337.44 | $345.56 | +2% |
| The Travelers Companies, Inc TRV | $368.98 | $384.42 | +4% |
| The Allstate Corporation ALL | $251.61 | $503.22 | +100% |
| The People's Insurance Company 601319 | ¥7.06 | ¥13.71 | +94% |
| Intact Financial Corporation IFC | C$294.02 | C$247.44 | -16% |
| Fairfax Financial Holdings FFH | C$2,327 | C$3,252 | +40% |
| QBE Insurance Group QBE | A$25.47 | A$19.42 | -24% |
| Samsung Fire & Marine Insurance Co 000810 | 648,000 KRW | 658,771 KRW | +2% |
| Powszechny Zaklad Ubezpieczen SA PZU | 69.80 PLN | 100.85 PLN | +44% |
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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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