Mutual Benefits AssuranceNSA:MBAS -0.29%61 3-Year ROIIC % is 12.85 as of Dec. 2025, which is 11% below its 10-year median of 14.40. GuruFocus rates NSA:MBAS with a GF Score™ of 61/100 and a GF Value™ of ₦2.25 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 334 Insurance companies, Mutual Benefits Assurance ranks better than 71.56% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Mutual Benefits Assurance's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 12.85%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Mutual Benefits Assurance's 3-Year ROIIC % or its related term are showing as below:
NSA:MBAS's 3-Year ROIIC % is ranked better than 71.56% of 334
companies
in the Insurance industry
Industry Median: 5.09
vs NSA:MBAS: 12.85
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Mutual Benefits Assurance 3-Year ROIIC % Related Terms
Mutual Benefits Assurance 3-Year ROIIC % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSA:MBAS vs BRK.A, AIG, HIG: 3-Year ROIIC % Comparison
For the Insurance - Diversified subindustry, Mutual Benefits Assurance's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mutual Benefits Assurance 3-Year ROIIC % vs Insurance Industry
For the Insurance industry and Financial Services sector, Mutual Benefits Assurance's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Mutual Benefits Assurance's 3-Year ROIIC % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Mutual Benefits Assurance (NSA:MBAS) has a 3-Year ROIIC % of 12.85 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Mutual Benefits Assurance and its competitors. This is 11% below median its historical median of 14.40. According to the industry distribution chart, Mutual Benefits Assurance ranks #95 out of 334 companies in the Insurance industry, placing it in the top 28.4%.
Is Mutual Benefits Assurance's 3-Year ROIIC % too high?
Mutual Benefits Assurance's current 3-Year ROIIC % of 12.85 is 11% below median its 10-year median of 14.40. The Insurance industry median 3-Year ROIIC % is 5.09. Mutual Benefits Assurance's value of 12.85 is 152.5% above this industry median. Based on the distribution chart, Mutual Benefits Assurance ranks #95 out of 334 companies in the Insurance industry, which is above the industry midpoint. Overall, Mutual Benefits Assurance has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Benefits Assurance's 3-Year ROIIC % compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Mutual Benefits Assurance ranks #95 out of 334 companies for 3-Year ROIIC %. This puts Mutual Benefits Assurance in the upper half of its industry. The industry median 3-Year ROIIC % is 5.09. Mutual Benefits Assurance's value of 12.85 is 152.5% above this benchmark. While the company's 10-year median is 14.40 vs. the industry median of 5.09, Mutual Benefits Assurance has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Insurance company?
The median 3-Year ROIIC % among Insurance companies is 5.09, based on 334 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mutual Benefits Assurance's current 3-Year ROIIC % of 12.85 is 152.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Mutual Benefits Assurance and its competitors. For the Insurance industry, the median 3-Year ROIIC % is 5.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mutual Benefits Assurance's current 3-Year ROIIC % is 12.85, which is 11% below median its own 10-year median of 14.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Benefits Assurance stock overvalued right now?
Based on GuruFocus' analysis, Mutual Benefits Assurance (NSA:MBAS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.25, compared to a current price of ₦3.39 — trading 50.7% above its estimated fair value. The current 3-Year ROIIC % is 12.85, which is 11% below median its 10-year median of 14.40 and 152.5% above the Insurance industry median of 5.09. Mutual Benefits Assurance's overall GF Score™ is 61/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Mutual Benefits Assurance (NSA:MBAS), the current 3-Year ROIIC % is 12.85 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mutual Benefits Assurance (NSA:MBAS) Overvalued in 2026?
Based on GuruFocus' analysis, Mutual Benefits Assurance stock appears to be overvalued.
The current stock price of ₦3.39 is trading 50.7% above its estimated GF Value™ of ₦2.25.
GuruFocus considers Mutual Benefits Assurance to be Significantly Overvalued.
Key valuation signals for NSA:MBAS:
3-Year ROIIC %: 12.85 (11% below median its 10-year median of 14.40)
GF Value™: ₦2.25 vs. price of ₦3.39 (50.7% above fair value)
Industry Position: 152.5% above the Insurance median (#95 of 334)
No single metric tells the full story. See the NSA:MBAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mutual Benefits Assurance PLC is a financial and wealth protection company in Nigeria. The principal objective of the Company is to render qualitative life related insurance & risks management services. It is a premium provider of life insurance, annuity and investment products and services. It has four reportable operating segments; assurance business, real estate, microfinance bank, and oil and gas exploration and production. The majority of revenue comes from Assurance business which covers the protection of customers' assets (Particularly their properties, both for personal and commercial business) and indemnification of other parties that have suffered damage as a result of customers accident. It has presence in Nigeria, and Liberia.
61GF Score
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