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Ironrock Insurance JMSE:ROC Stock Report

Last Price


Market Cap







02 Jul, 2022


Company Financials
ROC fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance4/6
Financial Health5/6

ROC Stock Overview

Ironrock Insurance Company Limited engages in the general insurance business in Jamaica.

Ironrock Insurance Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ironrock Insurance
Historical stock prices
Current Share PriceJA$3.29
52 Week HighJA$4.20
52 Week LowJA$2.90
1 Month Change-0.30%
3 Month Change-8.61%
1 Year Change-4.64%
3 Year Change-6.00%
5 Year Change2.81%
Change since IPO-19.76%

Recent News & Updates

Shareholder Returns

ROCJM InsuranceJM Market

Return vs Industry: ROC underperformed the JM Insurance industry which returned -0.2% over the past year.

Return vs Market: ROC underperformed the JM Market which returned -1.7% over the past year.

Price Volatility

Is ROC's price volatile compared to industry and market?
ROC volatility
ROC Average Weekly Movement16.0%
Insurance Industry Average Movement4.3%
Market Average Movement9.3%
10% most volatile stocks in JM Market15.8%
10% least volatile stocks in JM Market5.4%

Stable Share Price: ROC is more volatile than 90% of JM stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: ROC's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of JM stocks.

About the Company

2015n/aRichard Evan Thwaites

Ironrock Insurance Company Limited engages in the general insurance business in Jamaica. It underwrites car, home, boat, renters, cargo, and commercial insurance products. The company was incorporated in 2015 and is based in Kingston, Jamaica.

Ironrock Insurance Fundamentals Summary

How do Ironrock Insurance's earnings and revenue compare to its market cap?
ROC fundamental statistics
Market CapJA$704.06m
Earnings (TTM)JA$52.14m
Revenue (TTM)JA$397.11m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ROC income statement (TTM)
Cost of RevenueJA$182.41m
Gross ProfitJA$214.71m
Other ExpensesJA$162.57m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date


Earnings per share (EPS)0.24
Gross Margin54.07%
Net Profit Margin13.13%
Debt/Equity Ratio0%

How did ROC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is ROC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ROC?

Other financial metrics that can be useful for relative valuation.

ROC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.7x
Enterprise Value/EBITDA24.4x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does ROC's PE Ratio compare to its peers?

ROC PE Ratio vs Peers
The above table shows the PE ratio for ROC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.2x
KEY Key Insurance
GENAC General Accident Insurance Company Jamaica
CABROKERS Caribbean Assurance Brokers
CENI Century Insurance
ROC Ironrock Insurance

Price-To-Earnings vs Peers: ROC is expensive based on its Price-To-Earnings Ratio (13.5x) compared to the peer average (9.2x).

Price to Earnings Ratio vs Industry

How does ROC's PE Ratio compare vs other companies in the South American Insurance Industry?

Price-To-Earnings vs Industry: ROC is expensive based on its Price-To-Earnings Ratio (13.5x) compared to the JM Insurance industry average (12.6x)

Price to Earnings Ratio vs Fair Ratio

What is ROC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ROC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ROC's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of ROC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate ROC's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ROC's fair value for valuation analysis.

Price to Earnings Growth Ratio

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

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Future Growth

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

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


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 Ironrock Insurance 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.

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Past Performance

How has Ironrock Insurance performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ROC has a high level of non-cash earnings.

Growing Profit Margin: ROC's current net profit margins (13.1%) are higher than last year (0.4%).

Past Earnings Growth Analysis

Earnings Trend: ROC has become profitable over the past 5 years, growing earnings by 86.4% per year.

Accelerating Growth: ROC's earnings growth over the past year (3171%) exceeds its 5-year average (86.4% per year).

Earnings vs Industry: ROC earnings growth over the past year (3171%) exceeded the Insurance industry 132.5%.

Return on Equity

High ROE: ROC's Return on Equity (9.3%) is considered low.

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Financial Health

How is Ironrock Insurance's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ROC's short term assets (JMD637.4M) exceed its short term liabilities (JMD55.0M).

Long Term Liabilities: ROC's short term assets (JMD637.4M) do not cover its long term liabilities (JMD821.1M).

Debt to Equity History and Analysis

Debt Level: ROC is debt free.

Reducing Debt: ROC has not had any debt for past 5 years.

Debt Coverage: ROC has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ROC has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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What is Ironrock Insurance current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

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

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

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

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ROC has not reported any payouts.

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


Average board tenure


Richard Evan Thwaites

no data


Mr. Richard Evan D. Thwaites serves as the Managing Director of IronRock Insurance Company Limited. Mr. Thwaites spent over thirty years with Globe Insurance Company of Jamaica Ltd. (and its predecessor en...

Board Members

Experienced Board: ROC's board of directors are not considered experienced ( 2.5 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.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Ironrock Insurance Company Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Ironrock Insurance Company Limited
  • Ticker: ROC
  • Exchange: JMSE
  • Founded: 2015
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: JA$704.060m
  • Shares outstanding: 214.00m
  • Website:


  • Ironrock Insurance Company Limited
  • 1b Braemar Avenue
  • Kingston
  • 10
  • Jamaica


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/02 00:00
End of Day Share Price2022/06/30 00:00
Annual Earnings2020/12/31

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.