Military Insurance Corp (MIG) - Net Assets
Based on the latest financial reports, Military Insurance Corp (MIG) has net assets worth ₫2.73 Trillion VND (≈ $103.72 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫11.68 Trillion ≈ $443.67 Million USD) and total liabilities (₫8.95 Trillion ≈ $339.95 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of Military Insurance Corp to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫2.73 Trillion |
| % of Total Assets | 23.38% |
| Annual Growth Rate | 11.35% |
| 5-Year Change | 50.39% |
| 10-Year Change | N/A |
| Growth Volatility | 6.96 |
Military Insurance Corp - Net Assets Trend (2020–2025)
This chart illustrates how Military Insurance Corp's net assets have evolved over time, based on quarterly financial data.
Annual Net Assets for Military Insurance Corp (2020–2025)
The table below shows the annual net assets of Military Insurance Corp from 2020 to 2025. For live valuation and market cap data, see Military Insurance Corp (MIG) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫2.63 Trillion ≈ $99.84 Million |
+23.35% |
| 2024-12-31 | ₫2.13 Trillion ≈ $80.94 Million |
+2.35% |
| 2023-12-31 | ₫2.08 Trillion ≈ $79.08 Million |
+9.97% |
| 2022-12-31 | ₫1.89 Trillion ≈ $71.90 Million |
+8.31% |
| 2021-12-31 | ₫1.75 Trillion ≈ $66.39 Million |
+13.82% |
| 2020-12-31 | ₫1.54 Trillion ≈ $58.32 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Military Insurance Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 110.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫411.57 Billion | 15.66% |
| Other Components | ₫2.22 Trillion | 84.34% |
| Total Equity | ₫2.63 Trillion | 100.00% |
Military Insurance Corp Competitors by Market Cap
The table below lists competitors of Military Insurance Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Golden Long Teng Development Co Ltd
TWO:3188
|
$145.07 Million |
|
E KOCREF CR REIT
KO:088260
|
$145.09 Million |
|
APM Automotive Holdings Bhd
KLSE:5015
|
$145.28 Million |
|
Lollands Bank
CO:LOLB
|
$145.32 Million |
|
Mendelson Infrastructures and Industries Ltd
TA:MNIN
|
$144.99 Million |
|
Cystech Electronics Corp
TWO:6651
|
$144.99 Million |
|
Basso Industry Corp
TW:1527
|
$144.94 Million |
|
FENIX Resources Ltd
AU:FEX
|
$144.86 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Military Insurance Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,130,259,651,577 to 2,627,723,952,020, a change of 497,464,300,443 (23.4%).
- Net income of 324,882,597,229 contributed positively to equity growth.
- Dividend payments of 100,095,687,045 reduced retained earnings.
- New share issuances of 110,210,820,000 increased equity.
- Other factors increased equity by 162,466,570,259.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫324.88 Billion | +12.36% |
| Dividends Paid | ₫100.10 Billion | -3.81% |
| Share Issuances | ₫110.21 Billion | +4.19% |
| Other Changes | ₫162.47 Billion | +6.18% |
| Total Change | ₫- | 23.35% |
Book Value vs Market Value Analysis
This analysis compares Military Insurance Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.45x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.03x to 1.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | ₫8890.24 | ₫18050.00 | x |
| 2023-12-31 | ₫10765.88 | ₫18050.00 | x |
| 2024-12-31 | ₫11019.35 | ₫18050.00 | x |
| 2025-12-31 | ₫12424.02 | ₫18050.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Military Insurance Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.36%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.67%
- • Asset Turnover: 0.38x
- • Equity Multiplier: 4.29x
- Recent ROE (12.36%) is above the historical average (11.82%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 12.63% | 7.89% | 0.44x | 3.62x | ₫40.41 Billion |
| 2021 | 12.81% | 8.20% | 0.42x | 3.76x | ₫49.09 Billion |
| 2022 | 8.43% | 4.24% | 0.44x | 4.52x | ₫-29.75 Billion |
| 2023 | 13.48% | 7.74% | 0.41x | 4.24x | ₫72.43 Billion |
| 2024 | 11.20% | 6.37% | 0.38x | 4.62x | ₫25.48 Billion |
| 2025 | 12.36% | 7.67% | 0.38x | 4.29x | ₫62.11 Billion |
Industry Comparison
This section compares Military Insurance Corp's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $2,418,594,173,995
- Average return on equity (ROE) among peers: 10.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Military Insurance Corp (MIG) | ₫2.73 Trillion | 12.63% | 3.28x | $145.05 Million |
| BaoMinh Insurance Corp (BMI) | $2.93 Trillion | 8.87% | 1.57x | $83.51 Million |
| Petrolimex Insurance Corp (PGI) | $1.91 Trillion | 12.18% | 3.42x | $77.53 Million |
About Military Insurance Corp
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. … Read more