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A006800 Share Repurchases And Index Inclusion Will Support Stronger Future Returns

WealthSpot And Sharekhan Integration Will Unlock Asia's Wealth Shift

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A006800
AnalystHighTarget
Not Invested
Published 06 Jul 2025

Update shared on 10 Dec 2025

Fair value Increased 18%
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AnalystHighTarget's Fair Value
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1Y
156.1%
7D
1.6%

Analysts have raised their price target for Mirae Asset Securities from ₩27,153 to ₩32,000, citing expectations for a richer future valuation multiple and modest improvements in profitability, despite more conservative revenue growth assumptions.

What's in the News

  • Mirae Asset Securities completed a share repurchase of 4,052,192 shares, about 0.7 percent of outstanding shares, for roughly KRW 80.1 billion under the buyback announced on August 28, 2025 (company filing).
  • Between October 1 and November 24, 2025, the firm bought back 2,711,792 shares, or 0.47 percent, for KRW 52.2 billion as part of the same repurchase program (company filing).
  • From August 28 to September 30, 2025, the company repurchased 1,340,400 shares, or 0.23 percent, for KRW 27.9 billion under the announced buyback plan (company filing).
  • Mirae Asset Securities was added as a constituent of the FTSE All World Index in its USD tranche, potentially increasing visibility among global index investors (index review announcement).
  • A board meeting is scheduled for December 1, 2025, with an agenda that includes preparing dividend related items based on the average purchase price of treasury stock acquired within profits available for distribution (board meeting notice).

Valuation Changes

  • Fair Value: Raised from ₩27,153 to ₩32,000, reflecting a moderately higher target price level.
  • Discount Rate: Trimmed slightly from 10.00 percent to about 10.0 percent, implying a marginally lower required rate of return.
  • Revenue Growth: Assumptions reduced further from approximately minus 51.0 percent to about minus 54.2 percent, indicating a more conservative top line outlook.
  • Net Profit Margin: Increased modestly from about 89.2 percent to roughly 91.0 percent, signaling expectations for slightly stronger profitability.
  • Future P/E: Lifted from about 11.3x to roughly 15.3x, suggesting a richer valuation multiple applied to future earnings.

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Disclaimer

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