NasdaqGS:MHLD

Stock Analysis Report

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

Fundamentals

Overvalued with worrying balance sheet.


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


Market Performance


7 Day Return

2.4%

MHLD

0.1%

US Insurance

0.5%

US Market


1 Year Return

-80.3%

MHLD

13.8%

US Insurance

6.8%

US Market

Return vs Industry: MHLD underperformed the US Insurance industry which returned 13.8% over the past year.

Return vs Market: MHLD underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

MHLDIndustryMarket
7 Day2.4%0.1%0.5%
30 Day-15.5%-1.8%-0.8%
90 Day27.3%-1.6%-0.9%
1 Year-80.3%-80.3%16.6%13.8%9.2%6.8%
3 Year-94.7%-95.4%44.6%33.5%45.6%36.2%
5 Year-93.6%-94.8%69.6%49.4%63.2%45.4%

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

Valuation

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

0.42x

Price to Book (PB) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

PE vs Market: MHLD is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MHLD is good value based on its PB Ratio (0.4x) compared to the US Insurance industry average (1.2x).


Next Steps

Future Growth

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

6.5%

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?

-73.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MHLD is unprofitable, and losses have increased over the past 5 years at a rate of -73.3% per year.

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

Earnings vs Industry: MHLD is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (1.4%).


Return on Equity

High ROE: MHLD has a negative Return on Equity (-82.48%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: MHLD is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MHLD is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Maiden Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MHLD has a low level of unsold assets or inventory.

Debt Coverage by Assets: MHLD's debt is covered by short term assets (assets are 5.107330x debt).


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: MHLD has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MHLD has less than a year of cash runway if free cash flow continues to reduce at historical rates of -58.5% each year


Financial Institutions Analysis

Asset Level: MHLD's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MHLD has a sufficient allowance for bad loans.

Low Risk Liabilities: MHLD reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MHLD has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MHLD has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MHLD has an appropriate level of bad loans.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Current Payout to Shareholders

Dividend Coverage: MHLD is not paying a notable dividend for the US market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Maiden Holdings's salary, the management and board of directors tenure and is there insider trading?

1.1yrs

Average management tenure


CEO

Lawrence Metz (46yo)

1.1yrs

Tenure

US$2,051,021

Compensation

Mr. Lawrence Frederic Metz has been Chief Executive Officer and President at Maiden Holdings, Ltd. since September 1, 2018 and served as its General Counsel and Secretary since June 2009 and served as Exec ...


CEO Compensation Analysis

Compensation vs. Market: Lawrence has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

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


Management Age and Tenure

1.1yrs

Average Tenure

51.5yo

Average Age

Experienced Management: MHLD's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Age and Tenure

12.3yrs

Average Tenure

59yo

Average Age

Experienced Board: MHLD's board of directors are seasoned and experienced ( 12.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$8429 Mar 19
Yehuda Neuberger
EntityIndividual
Role
Member of the Board of Directors
Director
Shares100
Max PriceUS$0.84
BuyUS$160,28329 Mar 19
Yehuda Neuberger
EntityIndividual
Role
Member of the Board of Directors
Director
Shares199,900
Max PriceUS$0.82
BuyUS$127,50026 Mar 19
Raymond Neff
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares170,000
Max PriceUS$0.75
BuyUS$7,50026 Mar 19
Steven Nigro
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares10,000
Max PriceUS$0.75
BuyUS$9,868,99522 Mar 19
683 Capital Management, LLC
EntityCompany
Shares7,151,964
Max PriceUS$1.38
SellUS$80,79021 Nov 18
Karen Schmitt
EntityIndividual
Shares31,500
Max PriceUS$2.58
BuyUS$24,20019 Nov 18
Simcha Lyons
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$2.42
BuyUS$12,15019 Nov 18
Steven Nigro
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares5,000
Max PriceUS$2.43

Ownership Breakdown


Management Team

  • Patrick Haveron (57yo)

    Executive VP

    • Tenure: 1.1yrs
    • Compensation: US$1.74m
  • Colin Fitt

    Senior Vice President of Corporate Development

    • Tenure: 6.3yrs
  • Michael Haines (63yo)

    Senior Vice President of Finance

    • Tenure: 0.8yrs
  • Michael Tait (58yo)

    Chief Accounting Officer

    • Tenure: 0yrs
    • Compensation: US$493.94k
  • William Jarman (44yo)

    Senior VP & Chief Actuary

    • Tenure: 15.8yrs
  • Lawrence Metz (46yo)

    President & CEO

    • Tenure: 1.1yrs
    • Compensation: US$2.05m
  • Max Reid

    President of Maiden Global Holdings Ltd

    • Tenure: 6.4yrs
  • Bill Horning

    Senior Vice President

    • Tenure: 0yrs
  • Denis Butkovic (46yo)

    Senior VP

    • Tenure: 1yrs

Board Members

  • Barry Zyskind (47yo)

    Non-Executive Chairman of the Board

    • Tenure: 12.3yrs
  • Steven Nigro (59yo)

    Lead Independent Director

    • Tenure: 2.9yrs
    • Compensation: US$181.25k
  • Ray Neff (78yo)

    Independent Director

    • Tenure: 12.3yrs
    • Compensation: US$152.50k
  • Simcha Lyons (72yo)

    Independent Director

    • Tenure: 12.3yrs
    • Compensation: US$152.50k
  • Yehuda Neuberger (42yo)

    Director

    • Tenure: 11.8yrs
    • Compensation: US$152.50k

Company Information

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


Key Information

  • Name: Maiden Holdings, Ltd.
  • Ticker: MHLD
  • Exchange: NasdaqGS
  • Founded: 2007
  • Industry: Reinsurance
  • Sector: Insurance
  • Market Cap: US$52.647m
  • Shares outstanding: 83.07m
  • 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
MHLDNasdaqGS (Nasdaq Global Select)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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 00:13
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.