TSX:TSU

Stock Analysis Report

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Executive Summary

Trisura Group Ltd., a specialty insurance company, operates in the surety, risk solutions, corporate insurance, and reinsurance businesses in Canada and the United States. More Details


Snowflake Analysis

Solid track record with adequate balance sheet.

Share Price & News

How has Trisura Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TSU has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.9%

TSU

2.2%

CA Insurance

0.07%

CA Market


1 Year Return

185.2%

TSU

-12.6%

CA Insurance

-3.6%

CA Market

Return vs Industry: TSU exceeded the Canadian Insurance industry which returned -12.3% over the past year.

Return vs Market: TSU exceeded the Canadian Market which returned -4% over the past year.


Shareholder returns

TSUIndustryMarket
7 Day2.9%2.2%0.07%
30 Day8.9%3.4%2.1%
90 Day12.7%6.2%1.8%
1 Year185.2%185.2%-8.3%-12.6%-0.09%-3.6%
3 Year209.2%209.2%-2.1%-13.8%3.7%-6.1%
5 Yearn/a17.4%-3.6%31.1%11.6%

Price Volatility Vs. Market

How volatile is Trisura Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Trisura Group undervalued compared to its fair value and its price relative to the market?

35.11x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TSU (CA$89.35) is trading above our estimate of fair value (CA$75.99)

Significantly Below Fair Value: TSU is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TSU is poor value based on its PE Ratio (35.1x) compared to the CA Insurance industry average (14.7x).

PE vs Market: TSU is poor value based on its PE Ratio (35.1x) compared to the Canadian market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: TSU is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: TSU is overvalued based on its PB Ratio (3.4x) compared to the CA Insurance industry average (0.9x).


Next Steps

Future Growth

How is Trisura Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

15.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TSU's forecast earnings growth (15.7% per year) is above the savings rate (1.7%).

Earnings vs Market: TSU's earnings (15.7% per year) are forecast to grow slower than the Canadian market (22.7% per year).

High Growth Earnings: TSU's earnings are forecast to grow, but not significantly.

Revenue vs Market: TSU's revenue (33.7% per year) is forecast to grow faster than the Canadian market (5.8% per year).

High Growth Revenue: TSU's revenue (33.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TSU's Return on Equity is forecast to be low in 3 years time (13.3%).


Next Steps

Past Performance

How has Trisura Group performed over the past 5 years?

59.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TSU has high quality earnings.

Growing Profit Margin: TSU's current net profit margins (13%) are higher than last year (3.4%).


Past Earnings Growth Analysis

Earnings Trend: TSU's earnings have grown significantly by 59.3% per year over the past 5 years.

Accelerating Growth: TSU's earnings growth over the past year (433.1%) exceeds its 5-year average (59.3% per year).

Earnings vs Industry: TSU earnings growth over the past year (433.1%) exceeded the Insurance industry -2.5%.


Return on Equity

High ROE: TSU's Return on Equity (8%) is considered low.


Next Steps

Financial Health

How is Trisura Group's financial position?


Financial Position Analysis

Short Term Liabilities: TSU's short term assets (CA$778.2M) do not cover its short term liabilities (CA$1.0B).

Long Term Liabilities: TSU's short term assets (CA$778.2M) exceed its long term liabilities (CA$50.8M).


Debt to Equity History and Analysis

Debt Level: TSU's debt to equity ratio (10.3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if TSU's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: TSU's debt is well covered by operating cash flow (238.7%).

Interest Coverage: TSU's interest payments on its debt are well covered by EBIT (18.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Trisura Group current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TSU's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TSU's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TSU's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TSU's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TSU's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

David Clare (34 yo)

2yrs

Tenure

CA$945,687

Compensation

Mr. David James Clare has been the President and Chief Executive Officer of Trisura Group Ltd., since October 16, 2018 and Director since 2018. He serves as Chairman of the Board at Trisura Specialty Insur ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD719.40K) is below average for companies of similar size in the Canadian market ($USD1.31M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
David Clare
President2yrsCA$945.69k0.71%
CA$ 6.5m
David Scotland
Chief Financial Officer1.17yrsCA$386.64k0.016%
CA$ 148.3k
James Doyle
Chief Risk Officer1.17yrsCA$472.38k0.19%
CA$ 1.8m
Michael Beasley
CEO & President of Trisura Specialty Insurance Company1.67yrsCA$835.93k0.0014%
CA$ 12.4k
Chris Sekine
President & CEO of Trisura Guarantee Insurance1.5yrsCA$824.79k0.31%
CA$ 2.9m
Eileen Sweeney
Executive VP & CFO of Trisura Specialty1.67yrsCA$796.12k0.35%
CA$ 3.2m

1.6yrs

Average Tenure

59yo

Average Age

Experienced Management: TSU's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
David Clare
President2yrsCA$945.69k0.71%
CA$ 6.5m
George Myhal
Independent Chairman2.42yrsCA$60.00k0.27%
CA$ 2.5m
Gregory Ernest Morrison
Director3.75yrsCA$56.64k0.39%
CA$ 3.6m
Barton Hedges
Independent Director3.33yrsCA$80.00k0.14%
CA$ 1.3m
Paul Gallagher
Independent Director3.33yrsCA$80.00k0.034%
CA$ 312.7k
Robert Taylor
Independent Director2.42yrsCA$70.00k0.45%
CA$ 4.1m

3.0yrs

Average Tenure

63yo

Average Age

Experienced Board: TSU's board of directors are considered experienced (3 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.4%.


Top Shareholders

Company Information

Trisura Group Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Trisura Group Ltd.
  • Ticker: TSU
  • Exchange: TSX
  • Founded: 2017
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: CA$917.523m
  • Shares outstanding: 10.27m
  • Website: https://www.trisura.com/group

Number of Employees


Location

  • Trisura Group Ltd.
  • Bay Adelaide Centre
  • 333 Bay Street
  • Toronto
  • Ontario
  • M5H 2R2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TSUTSX (The Toronto Stock Exchange)YesCommon SharesCACADMay 2017
TRRS.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMay 2017
QPA1DB (Deutsche Boerse AG)YesCommon SharesDEEURMay 2017
0AMJLSE (London Stock Exchange)YesCommon SharesGBCADMay 2017

Biography

Trisura Group Ltd., a specialty insurance company, operates in the surety, risk solutions, corporate insurance, and reinsurance businesses in Canada and the United States. The company offers contract suret ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 00:47
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.