DB:4OWA

Stock Analysis Report

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Executive Summary

Maiden Holdings, Ltd., through its subsidiaries, provides property and casualty reinsurance solutions to regional and specialty insurers primarily in Europe and internationally.


Snowflake Analysis

Worrying balance sheet with weak fundamentals.


Similar Companies

Share Price & News

How has Maiden Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 4OWA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.9%

4OWA

3.3%

DE Insurance

2.8%

DE Market


1 Year Return

78.5%

4OWA

-8.8%

DE Insurance

0.2%

DE Market

Return vs Industry: 4OWA exceeded the German Insurance industry which returned -8.8% over the past year.

Return vs Market: 4OWA exceeded the German Market which returned 0.2% over the past year.


Shareholder returns

4OWAIndustryMarket
7 Day2.9%3.3%2.8%
30 Day5.9%-4.9%-1.6%
90 Day39.4%18.6%22.0%
1 Year78.5%78.5%-3.7%-8.8%2.3%0.2%
3 Year-87.7%-89.0%28.9%12.2%3.4%-5.0%
5 Year-91.0%-92.5%66.4%32.0%11.4%-3.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Maiden Holdings undervalued compared to its fair value and its price relative to the market?

5.79x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 4OWA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 4OWA's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 4OWA is unprofitable, so we can't compare its PE Ratio to the Insurance industry average.

PE vs Market: 4OWA is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 4OWA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 4OWA is overvalued based on its PB Ratio (5.8x) compared to the DE Insurance industry average (1x).


Next Steps

Future Growth

How is Maiden Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.1%

Forecasted Insurance industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maiden Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Maiden Holdings performed over the past 5 years?

-59.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 4OWA is currently unprofitable.

Growing Profit Margin: 4OWA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 4OWA is unprofitable, and losses have increased over the past 5 years at a rate of -59.1% per year.

Accelerating Growth: Unable to compare 4OWA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 4OWA is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (10%).


Return on Equity

High ROE: 4OWA has a negative Return on Equity (-11.26%), as it is currently unprofitable.


Next Steps

Financial Health

How is Maiden Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 4OWA's short term assets ($1.5B) exceed its short term liabilities ($218.6M).

Long Term Liabilities: 4OWA's short term assets ($1.5B) do not cover its long term liabilities ($2.6B).


Debt to Equity History and Analysis

Debt Level: 4OWA's debt to equity ratio (52.6%) is considered high.

Reducing Debt: 4OWA's debt to equity ratio has increased from 28.2% to 52.6% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 4OWA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: 4OWA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 42.7% each year


Next Steps

Dividend

What is Maiden Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 4OWA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 4OWA'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 4OWA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 4OWA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 4OWA is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 4OWA's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Pat Haveron (58yo)

0.17

Tenure

US$1,882,330

Compensation

Mr. Patrick Joseph Haveron, also known as Pat, CPA, serves as Co- Chief Executive Officer of Maiden Holdings, Ltd. Since May 8, 2020. He served as Director of Maiden Holdings, Ltd. since December 10, 2019  ...


CEO Compensation Analysis

Compensation vs Market: Pat's total compensation ($USD1.88M) is above average for companies of similar size in the German market ($USD473.31K).

Compensation vs Earnings: Pat's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Patrick Haveron
CFO & Co-CEO0.17yrUS$1.88m1.87% $1.8m
Lawrence Metz
President0.58yrUS$1.45m1.42% $1.3m
William Jarman
Senior VP & Chief Actuary16.5yrsUS$641.72k0.18% $165.7k
Michael Tait
Chief Accounting Officerno dataUS$493.94kno data
Bill Horning
Senior Vice Presidentno datano datano data
Denis Butkovic
Senior VP1.75yrsUS$117.86k0.030% $28.6k
Colin Fitt
Senior Vice President of Corporate Development7yrsno datano data
Michael Haines
Senior Vice President of Finance1.5yrsUS$24.58k0.15% $144.5k
Max Reid
President of Maiden Global Holdings Ltd7.17yrsno datano data

1.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: 4OWA's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Lawrence Metz
President0.58yrUS$1.45m1.42% $1.3m
Barry Zyskind
Non-Executive Chairman of the Board13.08yrsno data7.52% $7.1m
Steven Nigro
Vice Chairman & Lead Independent Director1.92yrsUS$195.00k0.14% $134.8k
Raymond Neff
Independent Director13.08yrsUS$165.00k0.63% $593.5k
Simcha Lyons
Independent Director13.08yrsUS$165.00k0.16% $147.5k
Yehuda Neuberger
Director12.5yrsUS$165.00k0.39% $369.0k
Holly Blanchard
Independent Director0.58yrUS$5.75k0.064% $60.4k
Keith Thomas
Independent Director0.58yrUS$5.75k0.12% $111.4k

7.2yrs

Average Tenure

54yo

Average Age

Experienced Board: 4OWA's board of directors are considered experienced (7.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 4OWA 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 2%.


Top Shareholders

Company Information

Maiden Holdings, Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Maiden Holdings, Ltd.
  • Ticker: 4OWA
  • Exchange: DB
  • Founded: 2007
  • Industry: Reinsurance
  • Sector: Insurance
  • Market Cap: US$106.746m
  • Listing Market Cap: US$94.395m
  • Shares outstanding: 84.72m
  • Website: https://www.maiden.bm

Number of Employees


Location

  • Maiden Holdings, Ltd.
  • Ideation House
  • 2nd Floor
  • Pembroke
  • HM 08
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MHLDNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDMay 2008
4OWADB (Deutsche Boerse AG)YesCommon SharesDEEURMay 2008
MH.PRANYSE (New York Stock Exchange)PREF SHS SER AUSUSDAug 2012
MH.PRCNYSE (New York Stock Exchange)PFD SHS SER CUSUSDNov 2015
MH.PRDNYSE (New York Stock Exchange)PFD SERIES DUSUSDJun 2017

Biography

Maiden Holdings, Ltd., through its subsidiaries, provides property and casualty reinsurance solutions to regional and specialty insurers primarily in Europe and internationally. The company writes treaties on a quota share basis and excess of loss basis. It also offers auto and credit life insurance products through its insurer partners to retail clients. Maiden Holdings, Ltd. was founded in 2007 and is headquartered in Pembroke, Bermuda. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/06 21:31
End of Day Share Price2020/07/06 00:00
Earnings2020/03/31
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.