Muang Thai Insurance Public Company Limited (MTI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Muang Thai Insurance Public Company Limited stock THB 13.21, price THB 19.30, that is 31.6% below the price, quality 57 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 5, 2026.
How to read this chart
60‑month range 6.63 THB – 22.20 THB · fair‑value band 11.93 THB – 15.88 THB · the 19.30 THB price screens above the 13.21 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Muang Thai Insurance Public Company Limited provides non-life insurance products and services in Thailand. It operates through two segments: Insurance, and Investment and Others.
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The company offers motor insurance that includes car; and non-motor products, such as property; marine and transportation consist of marine hull, marine cargo, and marine liability insurance that covers sea, air, and domestic transportation; fire; engineering; personal accident; health; special; liability; and miscellaneous insurance products, as well as travel and commercial insurance products.
It also engages in financial and investment management in various securities. The company provides its services online. Muang Thai Insurance Public Company Limited was founded in 1932 and is based in Bangkok, Thailand.
Stock analysis
Muang Thai Insurance Public Company Limited (MTI) currently trades at 19.30 THB, while our model-based Fair Value estimate is 13.21 THB, 32% 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 19.35 THB per share, and 1 of the 6 models we run sit above the 19.30 THB price.
Bear case: the Asset-Based group reads lowest at 8.42 THB, and 5 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 11.93 THB (bear) to 15.88 THB (bull), the price of 19.30 THB 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 57/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Muang Thai Insurance Public Company Limited reported revenue of 19.9B THB in FY2025 versus 10.3B THB in FY2021, a compound +18.0%/yr. Reported net income was 958M THB in FY2025, compounding +5.7%/yr from FY2021.
Key figures
Market cap 11.4B THB (≈ $340M) Small · P/E ratio 11.0 · P/S ratio 0.56 · EPS (TTM) 1.76 THB · Dividend yield 4.2% · Net margin 5.1% · Return on equity 12.8% · Return on assets (EBIT) 3.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at −32%, MTI screens richer than that median.
Fair Value models
Bear11.93 THBFair Value 13.21 THBBull15.88 THB
Price 19.30 THB · Downside -31.6%
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 (0.8147 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. 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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+44.7%
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.
+20.8%
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.
+15.1%
Start year 2020 (pandemic). Over 10 years: +9.5% a year
Revenue growth 19 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.
+17.8%
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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.
−26.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.5%
Dividend (yield on the price)4.2%
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.−30.5% vs −19.7%, slowing
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.8% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+21.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +20.3% 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
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). "Muang Thai Insurance Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/MTI
Frequently asked questions
Is Muang Thai Insurance Public Company Limited (MTI) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 13.21 THB versus a price of 19.30 THB, about 32% lower (overvalued).
What is the fair value of MTI?
Our model-based fair value for Muang Thai Insurance Public Company Limited is 13.21 THB (as of Nov 5, 2026), built from audited fundamentals. The current price: 19.30 THB.
What is the quality score of MTI?
Muang Thai Insurance Public Company Limited has a Quality Score of 57/100. 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 Muang Thai Insurance Public Company Limited (MTI)?
Our model-based price target is the fair value of 13.21 THB (as of Nov 5, 2026) from 6 valuation models. Cautious scenario 11.93 THB, optimistic scenario 15.88 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Muang Thai Insurance Public Company Limited stock forecast for 2026?
Our models put fair value at 13.21 THB, about 32% lower versus a price of 19.30 THB (overvalued). Cautious scenario 11.93 THB, optimistic scenario 15.88 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Muang Thai Insurance Public Company Limited (MTI)?
Muang Thai Insurance Public Company Limited reported trailing-twelve-month revenue of about 20.4B THB (latest available figure, as of Nov 5, 2026).
Does Muang Thai Insurance Public Company Limited pay a dividend?
Muang Thai Insurance Public Company Limited currently shows a dividend yield of 4.20% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Muang Thai Insurance Public Company Limited (MTI) and when is the ex-dividend date?
Muang Thai Insurance Public Company Limited pays a dividend of 0.81 THB per share a year, a dividend yield of 4.2%. The last ex-dividend date was Mar 12, 2026. A dividend has been paid every year since 2014. The payout ratio is 46.0% of earnings. Free cash flow covers the dividend 0.76 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Muang Thai Insurance Public Company Limited (MTI)?
For today's price to be fair in a discounted-cash-flow model, Muang Thai Insurance Public Company Limited would have to grow free cash flow by +21.7 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.1 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of MTI use?
Our models discount Muang Thai Insurance Public Company Limited at 11.6 %: a base by market capitalisation (small), damped by beta 0.12, country premium for Thailand. 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 Muang Thai Insurance Public Company Limited that is +21.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Muang Thai Insurance Public Company Limited (MTI) delivered so far?
Over the past 5 years revenue at Muang Thai Insurance Public Company Limited grew +15.1 % a year. The price currently implies free-cash-flow growth of +21.7 % 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 Muang Thai Insurance Public Company Limited (MTI) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Muang Thai Insurance Public Company Limited (+21.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Muang Thai Insurance Public Company Limited (MTI)?
The free-cash-flow yield on the price is 3.20 %: that much free cash flow Muang Thai Insurance Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Muang Thai Insurance Public Company Limited (MTI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Muang Thai Insurance Public Company Limited it is 13.21 THB per share (as of Nov 5, 2026), against a price of 19.30 THB. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Muang Thai Insurance Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 5, 2026, MTI trades above its calculated fair value: price 19.30 THB, fair value 13.21 THB, a gap of about −32% (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 MTI?
No. The price is what the market pays today (19.30 THB); the fair value is what the company's own numbers justify (13.21 THB). For Muang Thai Insurance Public Company Limited the two are 6.09 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Muang Thai Insurance Public Company Limited worth?
The market values Muang Thai Insurance Public Company Limited at about 11.4B THB (market capitalisation, as of Nov 5, 2026). Per share that is 19.30 THB; our models calculate a fair value of 13.21 THB per share.
What do the bullish and bearish scenarios say about MTI?
Our models span a range for Muang Thai Insurance Public Company Limited: cautious scenario 11.93 THB, base 13.21 THB, optimistic 15.88 THB per share (as of Nov 5, 2026, price 19.30 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MTI?
Muang Thai Insurance Public Company Limited trades at a price-to-earnings ratio of 11.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 13.21 THB is built from several models across several years. Other multiples: P/B 1.4, P/S 0.6, EV/EBITDA 7.8.
How solid is the balance sheet of Muang Thai Insurance Public Company Limited (MTI)?
Balance-sheet figures for Muang Thai Insurance Public Company Limited (as of Nov 5, 2026): return on equity 12.8%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is MTI from its 52-week high?
Muang Thai Insurance Public Company Limited trades at 19.30 THB, about 13% below its 52-week high of 22.20 THB and 35% above the low of 14.25 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 13.21 THB is for.
Which stocks are comparable to Muang Thai 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 Muang Thai Insurance Public Company Limited stock attractive at the current price?
The data as of Nov 5, 2026: price 19.30 THB, calculated fair value 13.21 THB (−32%), Quality Score 57/100, 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 MTI calculated?
We run Muang Thai Insurance Public Company Limited through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 13.21 THB 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. Muang Thai Insurance Public Company Limited 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 Muang Thai Insurance Public Company Limited (MTI)?
The closing price on Nov 6, 2026 was 19.30 THB. Our model-based fair value is 13.21 THB, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Muang Thai Insurance Public Company Limited right now?
The price sits above even our optimistic bull case (15.88 THB). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Muang Thai Insurance Public Company Limited (MTI) come from?
Earnings per share at Muang Thai Insurance Public Company Limited grew −14.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −7.7 %, EBIT margin −7.1 %, tax rate −0.3 %, 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 Muang Thai Insurance Public Company Limited
How large is the market capitalisation of Muang Thai Insurance Public Company Limited (MTI)?
The market capitalisation of Muang Thai Insurance Public Company Limited is 11.4B THB (≈ $340M). 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 Muang Thai Insurance Public Company Limited (MTI)?
The price-to-sales ratio of Muang Thai Insurance Public Company Limited is 0.56 (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 Muang Thai Insurance Public Company Limited (MTI)?
Earnings per share at Muang Thai Insurance Public Company Limited are 1.76 THB (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Muang Thai Insurance Public Company Limited (MTI)?
The dividend yield of Muang Thai Insurance Public Company Limited is 4.2% (payout 46.0%). 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 Muang Thai Insurance Public Company Limited (MTI)?
The net margin of Muang Thai Insurance Public Company Limited is 5.1% (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 Muang Thai Insurance Public Company Limited (MTI)?
The return on equity (ROE) of Muang Thai Insurance Public Company Limited is 12.8% (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 Muang Thai Insurance Public Company Limited (MTI)?
On an EBIT basis the return on assets of Muang Thai Insurance Public Company Limited is 3.2% (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 Muang Thai Insurance Public Company Limited (MTI)?
The operating margin of Muang Thai Insurance Public Company Limited is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Muang Thai Insurance Public Company Limited (MTI)?
Revenue at Muang Thai Insurance Public Company Limited is growing +4.9% versus a year earlier (3y avg +20.8%). 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 Muang Thai Insurance Public Company Limited (MTI)?
Earnings per share at Muang Thai Insurance Public Company Limited are growing +0.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Muang Thai Insurance Public Company Limited (MTI) hold?
Muang Thai Insurance Public Company Limited holds more cash than debt, 473M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 5, 2026