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Genworth MI Canada

TSX:MIC
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MIC
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Banks
Company description

Genworth MI Canada Inc., through its subsidiaries, operates as a private residential mortgage insurer in Canada. The last earnings update was 57 days ago. More info.


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MIC Share Price and Events
7 Day Returns
-2.9%
TSX:MIC
0.1%
CA Mortgage
0.7%
CA Market
1 Year Returns
-2.3%
TSX:MIC
4.9%
CA Mortgage
-1.2%
CA Market
MIC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Genworth MI Canada (MIC) -2.9% -1.1% 2.4% -2.3% 27.6% 12.2%
CA Mortgage 0.1% 2.3% 6.5% 4.9% 7.7% -14.5%
CA Market 0.7% 1.1% 0.9% -1.2% 14.1% 1.6%
1 Year Return vs Industry and Market
  • MIC underperformed the Mortgage industry which returned 4.9% over the past year.
  • MIC underperformed the Market in Canada which returned -1.2% over the past year.
Price Volatility
MIC
Industry
5yr Volatility vs Market

MIC Value

 Is Genworth MI Canada undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Genworth MI Canada to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Genworth MI Canada.

TSX:MIC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= CA$50.37 * 10.9%
CA$5.49
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. CA$50.37
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:MIC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.893 (1 + (1- 26.5%) (12.68%))
0.984
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.984 * 5.96%)
7.81%

Discounted Cash Flow Calculation for TSX:MIC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Genworth MI Canada is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:MIC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.9% – 7.81%) * CA$50.37)
CA$1.56
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$1.56 / (7.81% - 1.95%)
CA$26.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$50.37 + CA$26.53
CA$76.9
TSX:MIC Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$76.90
Current discount Discount to share price of CA$41.61
= -1 x (CA$41.61 - CA$76.90) / CA$76.90
45.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Genworth MI Canada is available for.
Intrinsic value
46%
Share price is CA$41.61 vs Future cash flow value of CA$76.9
Current Discount Checks
For Genworth MI Canada to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Genworth MI Canada's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Genworth MI Canada's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Genworth MI Canada's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Genworth MI Canada's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:MIC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$4.74
TSX:MIC Share Price ** TSX (2019-06-25) in CAD CA$41.61
Canada Mortgage Industry PE Ratio Median Figure of 9 Publicly-Listed Mortgage Companies 11.42x
Canada Market PE Ratio Median Figure of 543 Publicly-Listed Companies 15.12x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Genworth MI Canada.

TSX:MIC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:MIC Share Price ÷ EPS (both in CAD)

= 41.61 ÷ 4.74

8.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Genworth MI Canada is good value based on earnings compared to the CA Mortgage industry average.
  • Genworth MI Canada is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Genworth MI Canada's expected growth come at a high price?
Raw Data
TSX:MIC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
1.2%per year
Canada Mortgage Industry PEG Ratio Median Figure of 6 Publicly-Listed Mortgage Companies 1.39x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

TSX:MIC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.78x ÷ 1.2%

7.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Genworth MI Canada is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Genworth MI Canada's assets?
Raw Data
TSX:MIC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$46.96
TSX:MIC Share Price * TSX (2019-06-25) in CAD CA$41.61
Canada Mortgage Industry PB Ratio Median Figure of 11 Publicly-Listed Mortgage Companies 0.89x
Canada Market PB Ratio Median Figure of 2,426 Publicly-Listed Companies 1.45x
TSX:MIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:MIC Share Price ÷ Book Value per Share (both in CAD)

= 41.61 ÷ 46.96

0.89x

* Primary Listing of Genworth MI Canada.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Genworth MI Canada is good value based on assets compared to the CA Mortgage industry average.
X
Value checks
We assess Genworth MI Canada's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. Genworth MI Canada has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MIC Future Performance

 How is Genworth MI Canada expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Genworth MI Canada expected to grow at an attractive rate?
  • Genworth MI Canada's earnings growth is positive but not above the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Genworth MI Canada's earnings growth is positive but not above the Canada market average.
  • Genworth MI Canada's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:MIC Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:MIC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 1.2%
TSX:MIC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -7.3%
Canada Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 6.7%
Canada Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:MIC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:MIC Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 669 431 6
2019-12-31 671 427 6
TSX:MIC Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 873 441 421
2018-12-31 871 381 452
2018-09-30 859 386 503
2018-06-30 877 401 515
2018-03-31 875 413 549
2017-12-31 862 438 528
2017-09-30 862 445 536
2017-06-30 824 479 494
2017-03-31 834 556 435
2016-12-31 814 574 417
2016-09-30 793 678 375
2016-06-30 766 701 366

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Genworth MI Canada's earnings are expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
  • Genworth MI Canada's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:MIC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Genworth MI Canada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MIC Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 5.29 5.56 4.91 5.00
2019-12-31 5.02 5.21 4.91 5.00
TSX:MIC Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 4.74
2018-12-31 5.04
2018-09-30 5.58
2018-06-30 5.68
2018-03-31 6.01
2017-12-31 5.76
2017-09-30 5.83
2017-06-30 5.38
2017-03-31 4.74
2016-12-31 4.54
2016-09-30 4.08
2016-06-30 3.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Genworth MI Canada will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Genworth MI Canada's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Genworth MI Canada has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MIC Past Performance

  How has Genworth MI Canada performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Genworth MI Canada's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Genworth MI Canada's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Genworth MI Canada's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Genworth MI Canada's 1-year earnings growth is negative, it can't be compared to the CA Mortgage industry average.
Earnings and Revenue History
Genworth MI Canada's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Genworth MI Canada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MIC Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 873.19 421.04 80.45
2018-12-31 870.64 451.55 78.51
2018-09-30 858.58 503.44 79.94
2018-06-30 876.67 515.22 82.59
2018-03-31 874.72 548.86 81.30
2017-12-31 861.65 527.51 83.19
2017-09-30 861.67 535.52 82.95
2017-06-30 823.76 494.42 82.49
2017-03-31 833.50 435.22 82.98
2016-12-31 814.03 416.89 79.29
2016-09-30 793.33 374.54 74.19
2016-06-30 766.12 365.81 70.36
2016-03-31 778.01 378.76 70.69
2015-12-31 787.09 398.30 67.76
2015-09-30 777.49 386.94 70.73
2015-06-30 782.68 395.33 68.42
2015-03-31 769.93 389.13 67.81
2014-12-31 760.08 376.54 70.39
2014-09-30 769.10 383.28 74.34
2014-06-30 771.94 380.68 78.16
2014-03-31 784.42 381.71 76.96
2013-12-31 788.67 374.66 76.37
2013-09-30 784.45 507.59 71.09
2013-06-30 781.43 496.62 69.43
2013-03-31 767.82 477.61 68.76
2012-12-31 770.20 470.42 69.03
2012-09-30 775.73 323.85 67.72
2012-06-30 778.65 320.03 65.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Genworth MI Canada has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Genworth MI Canada used its assets more efficiently than the CA Mortgage industry average last year based on Return on Assets.
  • Genworth MI Canada has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Genworth MI Canada's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Genworth MI Canada has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MIC Health

 How is Genworth MI Canada's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Genworth MI Canada's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Genworth MI Canada Company Filings, last reported 2 months ago.

TSX:MIC Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,113.68 450.51 341.52
2018-12-31 3,990.24 465.06 345.08
2018-09-30 4,029.46 437.67 329.48
2018-06-30 4,026.10 443.89 388.59
2018-03-31 3,966.43 436.25 313.88
2017-12-31 3,961.42 433.33 494.40
2017-09-30 3,861.17 433.24 350.96
2017-06-30 3,842.66 435.36 354.45
2017-03-31 3,757.15 437.39 302.02
2016-12-31 3,648.58 440.22 338.83
2016-09-30 3,623.06 441.93 328.39
2016-06-30 3,550.47 460.39 343.94
2016-03-31 3,461.60 456.49 284.29
2015-12-31 3,419.89 469.97 436.50
2015-09-30 3,357.11 460.38 220.88
2015-06-30 3,359.95 449.84 408.18
2015-03-31 3,402.36 451.67 254.56
2014-12-31 3,271.35 432.14 252.89
2014-09-30 3,321.79 432.05 398.32
2014-06-30 3,266.24 431.96 293.87
2014-03-31 3,186.66 422.88 152.88
2013-12-31 3,087.32 422.77 250.23
2013-09-30 3,026.63 422.66 177.58
2013-06-30 3,025.01 422.55 312.37
2013-03-31 3,103.93 422.45 289.04
2012-12-31 3,036.96 422.35 337.87
2012-09-30 2,853.16 422.24 341.13
2012-06-30 2,777.68 422.14 205.44
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Unable to establish if Genworth MI Canada has an acceptable proportion of non-loan assets without balance sheet data.
  • Unable to establish if Genworth MI Canada's liabilities are primarily made up of low risk funding sources without deposits or liabilities data.
  • Genworth MI Canada reports no customer deposits, loans are made up entirely of borrowed funds.
  • Genworth MI Canada's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Genworth MI Canada has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Genworth MI Canada has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Genworth MI Canada's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Genworth MI Canada has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MIC Dividends

 What is Genworth MI Canada's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.9%
Current annual income from Genworth MI Canada dividends. Estimated to be 5.07% next year.
If you bought CA$2,000 of Genworth MI Canada shares you are expected to receive CA$98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Genworth MI Canada's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.13%).
  • Genworth MI Canada's dividend is below the markets top 25% of dividend payers in Canada (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:MIC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Canada Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 5.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:MIC Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 2.15 5.00
2019-12-31 2.07 5.00
TSX:MIC Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-04-30 2.040 4.881
2019-02-05 2.040 4.819
2018-10-30 2.040 4.774
2018-07-31 1.880 4.399
2018-05-01 1.880 4.444
2018-02-06 1.880 4.648
2017-08-01 1.760 4.420
2017-02-07 1.760 4.998
2016-08-02 1.680 5.148
2016-04-28 1.680 5.038
2016-02-04 1.680 5.839
2015-10-29 1.680 6.271
2015-08-04 1.560 5.212
2015-02-10 1.560 4.887
2014-07-30 1.400 3.803
2014-04-29 1.400 3.653
2014-02-04 1.400 3.859
2013-10-29 1.400 4.052
2013-07-30 1.280 4.386
2013-04-30 1.280 5.050
2013-02-05 1.280 5.158
2012-10-30 1.280 5.829
2012-07-31 1.160 5.910
2012-05-01 1.160 6.252
2012-02-02 1.160 5.373
2011-11-03 1.160 5.414
2011-07-28 1.040 4.844
2011-05-03 1.040 4.078
2011-02-02 1.040 3.961
2010-10-28 1.040 3.896
2010-07-29 0.880 3.399
2010-04-29 0.880 3.574
2010-01-28 0.880 3.235

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Genworth MI Canada has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Genworth MI Canada only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Genworth MI Canada's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Genworth MI Canada's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Genworth MI Canada afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Genworth MI Canada has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MIC Management

 What is the CEO of Genworth MI Canada's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stuart Levings
COMPENSATION CA$3,517,021
AGE 45
TENURE AS CEO 4.4 years
CEO Bio

Mr. Stuart Levings has been the Chief Executive Officer and President of Genworth MI Canada Inc a subsidiary of Genworth Financial, Inc. since August 22, 2016. Mr. Levings served as the President and Chief Executive Officer of Genworth MI Canada Inc. and its subsidiary Genworth Financial Mortgage Insurance Company Canada (Genworth Canada) since January 1, 2015. Mr. Levings held a variety of senior management positions within Genworth Canada since joining the company in 2000. His early career with Genworth Canada (then GE Mortgage Insurance) was in Finance and Product Development, he was the Chief Financial Officer from 2003 to 2007, became the Chief Risk Officer in 2008, the Chief Operations Officer in 2013 and then served for as Chief Operating Officer for a short time until taking on the role of the President and Chief Executive Officer. Mr. Levings has more than 20 years of finance and general management experience in financial services businesses. Prior to joining Genworth Canada, he spent seven years with Deloitte & Touche. He serves as Director of Genworth MI Canada Inc. Mr. Levings is a member of the Canadian Institute of Chartered Accountants. He holds a Bachelor of Accounting Science degree from the University of South Africa.

CEO Compensation
  • Stuart's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Stuart's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Genworth MI Canada management team in years:

4.4
Average Tenure
  • The tenure for the Genworth MI Canada management team is about average.
Management Team

Stuart Levings

TITLE
President
COMPENSATION
CA$4M
AGE
45
TENURE
4.4 yrs

Philip Mayers

TITLE
Senior VP & CFO
COMPENSATION
CA$1M
TENURE
10.4 yrs

Winsor Macdonell

TITLE
Senior VP
COMPENSATION
CA$855K

Debbie McPherson

TITLE
Senior Vice President of Sales & Marketing
COMPENSATION
CA$872K

Craig Sweeney

TITLE
Senior VP & Chief Risk Officer
COMPENSATION
CA$740K

Jim Spitali

TITLE
Senior Vice President of Operations
TENURE
0.7 yrs

Jonathan Pinto

TITLE
Vice President of Investor Relations
TENURE
4.4 yrs

Mary-Jo Hewat

TITLE
Senior Vice President of Human Resources
COMPENSATION
CA$670K
TENURE
3.1 yrs

Yvonne Burghardt-Mcewan

TITLE
Financial Controller
Board of Directors Tenure

Average tenure and age of the Genworth MI Canada board of directors in years:

3
Average Tenure
56
Average Age
  • The tenure for the Genworth MI Canada board of directors is about average.
Board of Directors

Brian Hurley

TITLE
Chairman of the Board
COMPENSATION
CA$280K
AGE
59
TENURE
10.4 yrs

Stuart Levings

TITLE
President
COMPENSATION
CA$4M
AGE
45
TENURE
4 yrs

Jerome Upton

TITLE
Director
AGE
54
TENURE
10 yrs

Sidney Horn

TITLE
Lead Director
COMPENSATION
CA$153K
AGE
68
TENURE
10.4 yrs

Neil Parkinson

TITLE
Director
COMPENSATION
CA$124K
TENURE
2.3 yrs

Andrea Bolger

TITLE
Director
COMPENSATION
CA$119K
AGE
60
TENURE
3 yrs

Rohit Gupta

TITLE
Director
AGE
43
TENURE
3 yrs

Sharon Giffen

TITLE
Director
COMPENSATION
CA$107K
TENURE
2 yrs

Raj Singh

TITLE
Director
AGE
56
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. Dec 18 Sell Stuart Levings Individual 12. Dec 18 12. Dec 18 -2 CA$41.97 CA$-84
07. Nov 18 Sell Winsor Macdonell Individual 06. Nov 18 06. Nov 18 -8,200 CA$45.00 CA$-369,000
07. Nov 18 Sell Philip Mayers Individual 06. Nov 18 06. Nov 18 -8,300 CA$45.00 CA$-373,500
06. Nov 18 Sell Philip Mayers Individual 02. Nov 18 02. Nov 18 -6,700 CA$45.00 CA$-301,500
06. Nov 18 Sell Stuart Levings Individual 05. Nov 18 05. Nov 18 -15,200 CA$44.50 CA$-676,400
X
Management checks
We assess Genworth MI Canada's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Genworth MI Canada has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MIC News

Simply Wall St News

Is Genworth MI Canada Inc. (TSE:MIC) A Smart Choice For Dividend Investors?

Conclusion When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. … Genworth MI Canada might not be a bad business, but it doesn't show all of the characteristics we look for in a dividend stock. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Read This Before You Buy Genworth MI Canada Inc. (TSE:MIC) Because Of Its P/E Ratio

We'll look at Genworth MI Canada Inc.'s (TSE:MIC) P/E ratio and reflect on what it tells us about the company's share price. … Check out our latest analysis for Genworth MI Canada How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Genworth MI Canada: P/E of 8.69 = CA$41.15 ÷ CA$4.74 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Does Genworth MI Canada Inc. (TSE:MIC) Have A Particularly Volatile Share Price?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … See our latest analysis for Genworth MI Canada What we can learn from MIC's beta value Given that it has a beta of 1.32, we can surmise that the Genworth MI Canada share price has been fairly sensitive to market volatility (over the last 5 years). … What this means for you: Since Genworth MI Canada tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Genworth MI Canada Inc. (TSE:MIC) Will Pay CA$0.51 In Dividends

If you are interested in cashing in on Genworth MI Canada Inc.'s (TSE:MIC) upcoming dividend of CA$0.51 per share, you only have 2 days left to buy the shares before its ex-dividend date, 09 May 2019, in time for dividends payable on the 29 May 2019. … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … Will the company be able to keep paying dividend based on the future earnings growth

Simply Wall St -

What Kind Of Shareholders Own Genworth MI Canada Inc. (TSE:MIC)?

With a market capitalization of CA$3.7b, Genworth MI Canada is a decent size, so it is probably on the radar of institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about MIC

Simply Wall St -

If You Had Bought Genworth MI Canada (TSE:MIC) Stock Three Years Ago, You Could Pocket A 30% Gain Today

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During three years of share price growth, Genworth MI Canada achieved compound earnings per share growth of 5.3% per year. … This EPS growth is lower than the 9.0% average annual increase in the share price.

Simply Wall St -

What Is Genworth MI Canada Inc.'s (TSE:MIC) Share Price Doing?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, what if the stock is still a bargain. … Let’s examine Genworth MI Canada’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Did Genworth MI Canada Inc. (TSE:MIC) Insiders Sell Shares?

So we'll take a look at whether insiders have been buying or selling shares in Genworth MI Canada Inc. … That means that an insider was selling shares at around the current price of CA$43.00 … We usually pause to reflect on the potential that a stock has a high valuation, if insiders have been selling at around the current price

Simply Wall St -

Read This Before You Buy Genworth MI Canada Inc. (TSE:MIC) Because Of Its P/E Ratio

To keep it practical, we'll show how Genworth MI Canada Inc.'s (TSE:MIC) P/E ratio could help you assess the value on offer. … Genworth MI Canada has a P/E ratio of 8.25, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Genworth MI Canada Inc.'s (TSE:MIC) CEO Pay Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … View our latest analysis for Genworth MI Canada? … How Does Stuart Levings's Compensation Compare With Similar Sized Companies?

Simply Wall St -

MIC Company Info

Description

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.

Details
Name: Genworth MI Canada Inc.
MIC
Exchange: TSX
Founded: 1995
CA$3,644,980,367
87,598,663
Website: http://www.genworth.ca
Address: Genworth MI Canada Inc.
2060 Winston Park Drive,
Suite 300,
Oakville,
Ontario, L6H 5R7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX MIC Common Shares The Toronto Stock Exchange CA CAD 07. Jul 2009
OTCPK GMIC.F Common Shares Pink Sheets LLC US USD 07. Jul 2009
DB 2GE Common Shares Deutsche Boerse AG DE EUR 07. Jul 2009
Number of employees
Current staff
Staff numbers
260
Genworth MI Canada employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 00:28
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/05/01
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.