Genworth MI Canada Inc., through its subsidiaries, operates as a private residential mortgage insurer in Canada.
6 star dividend payer and undervalued.
Share Price & News
How has Genworth MI Canada's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MIC's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: MIC underperformed the Canadian Mortgage industry which returned -21.5% over the past year.
Return vs Market: MIC matched the Canadian Market which returned -25.3% over the past year.
Price Volatility Vs. Market
How volatile is Genworth MI Canada's share price compared to the market and industry in the last 5 years?
Simply Wall St News
7 months ago | Simply Wall StWhy You Might Be Interested In Genworth MI Canada Inc. (TSE:MIC) For Its Upcoming Dividend
7 months ago | Simply Wall StWhat Type Of Shareholder Owns Genworth MI Canada Inc.'s (TSE:MIC)?
8 months ago | Simply Wall StShould You Worry About Genworth MI Canada Inc.'s (TSE:MIC) CEO Pay?
Is Genworth MI Canada undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MIC (CA$29.92) is trading below our estimate of fair value (CA$96.59)
Significantly Below Fair Value: MIC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MIC is good value based on its PE Ratio (6.1x) compared to the Mortgage industry average (7x).
PE vs Market: MIC is good value based on its PE Ratio (6.1x) compared to the Canadian market (10.6x).
Price to Earnings Growth Ratio
PEG Ratio: MIC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MIC is good value based on its PB Ratio (0.7x) compared to the CA Mortgage industry average (0.7x).
How is Genworth MI Canada forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MIC's earnings are forecast to decline over the next 3 years (-1.4% per year).
Earnings vs Market: MIC's earnings are forecast to decline over the next 3 years (-1.4% per year).
High Growth Earnings: MIC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MIC's revenue is expected to decline over the next 3 years (-14.5% per year).
High Growth Revenue: MIC's revenue is forecast to decline over the next 3 years (-14.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MIC's Return on Equity is forecast to be low in 3 years time (11.7%).
How has Genworth MI Canada performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MIC has high quality earnings.
Growing Profit Margin: MIC's current net profit margins (47.8%) are lower than last year (51.9%).
Past Earnings Growth Analysis
Earnings Trend: MIC's earnings have grown by 4% per year over the past 5 years.
Accelerating Growth: MIC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MIC had negative earnings growth (-5.6%) over the past year, making it difficult to compare to the Mortgage industry average (12.7%).
Return on Equity
High ROE: MIC's Return on Equity (11%) is considered low.
How is Genworth MI Canada's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: MIC has a low level of unsold assets or inventory.
Debt Coverage by Assets: MIC's debt is covered by short term assets (assets are 1.3x debt).
Financial Institutions Analysis
Asset Level: MIC's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MIC has a sufficient allowance for bad loans.
Low Risk Liabilities: MIC reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MIC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MIC has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MIC has an appropriate level of bad loans.
What is Genworth MI Canada's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MIC's dividend (14.97%) is higher than the bottom 25% of dividend payers in the Canadian market (2.75%).
High Dividend: MIC's dividend (14.97%) is in the top 25% of dividend payers in the Canadian market (8.79%)
Stability and Growth of Payments
Stable Dividend: MIC's dividends per share have been stable in the past 10 years.
Growing Dividend: MIC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (42.1%), MIC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MIC's dividends in 3 years are forecast to be well covered by earnings (46.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Stuart Levings (46yo)
Mr. Stuart Levings is the Chief Executive Officer and President of Genworth MI Canada Inc., a subsidiary of Genworth Financial, Inc. since January 2015. Mr. Levings held a variety of senior management posi ...
CEO Compensation Analysis
Compensation vs Market: Stuart's total compensation ($USD2.50M) is about average for companies of similar size in the Canadian market ($USD2.40M).
Compensation vs Earnings: Stuart's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Senior VP & CFO||11.17yrs||CA$1.11m||0.019% CA$533.6k|
|Senior VP||no data||CA$855.25k||0.020% CA$547.9k|
|Senior Vice President of Sales & Marketing||no data||CA$872.16k||0.020% CA$555.4k|
|Senior VP & Chief Risk Officer||no data||CA$740.17k||0.012% CA$338.3k|
|Senior Vice President of Operations||1.42yrs||no data||0.0038% CA$106.2k|
|Senior VP & Chief Information Officer||0.50yr||no data||0.0045% CA$126.3k|
|Senior Vice President of Human Resources||3.83yrs||CA$670.44k||0.0024% CA$68.2k|
|Financial Controller||no data||no data||no data|
|Vice President of Investor Relations||no data||no data||no data|
Experienced Management: MIC's management team is considered experienced (3.8 years average tenure).
|Independent Director||3.75yrs||CA$119.00k||0.0068% CA$189.4k|
|Lead Director||11.17yrs||CA$152.50k||0.0070% CA$194.4k|
|Independent Director||2.75yrs||CA$107.20k||no data|
|Director||0.083yr||no data||no data|
|Director||0.25yr||no data||no data|
|Chairman of the Board||no data||no data||no data|
|Director||0.25yr||no data||no data|
Experienced Board: MIC's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Genworth MI Canada Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Genworth MI Canada Inc.
- Ticker: MIC
- Exchange: TSX
- Founded: 1995
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: CA$2.794b
- Shares outstanding: 86.23m
- Website: https://genworth.ca/en/index.aspx
Number of Employees
- Genworth MI Canada Inc.
- 2060 Winston Park Drive
- Suite 300
- L6H 5R7
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MIC||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Jul 2009|
|2GE||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Jul 2009|
|GMIC.F||OTCPK (Pink Sheets LLC)||Yes||Common Shares||US||USD||Jul 2009|
Genworth MI Canada Inc., through its subsidiaries, operates as a private residential mortgage insurer in Canada. It provides mortgage default insurance to residential mortgage homebuyers, lenders, brokers, and realtors. The company was founded in 1995 and is headquartered in Oakville, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/28 02:52|
|End of Day Share Price||2020/03/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.