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MS&AD Insurance Group Holdings

OTCPK:MSAD.F
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSAD.F
OTCPK
¥1,937B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

MS&AD Insurance Group Holdings, Inc., an insurance holding company, provides insurance and financial services worldwide. The last earnings update was 91 days ago. More info.


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MSAD.F Share Price and Events
7 Day Returns
-0%
OTCPK:MSAD.F
-1.3%
US Insurance
-3.9%
US Market
1 Year Returns
-11.5%
OTCPK:MSAD.F
6.2%
US Insurance
1.4%
US Market
MSAD.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MS&AD Insurance Group Holdings (MSAD.F) -0% -0% - -11.5% 14% 27.2%
US Insurance -1.3% 1.2% 5% 6.2% 31.1% 43.8%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • MSAD.F underperformed the Insurance industry which returned 6.2% over the past year.
  • MSAD.F underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
MSAD.F
Industry
5yr Volatility vs Market

Value

 Is MS&AD Insurance Group Holdings 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 MS&AD Insurance Group Holdings 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 MS&AD Insurance Group Holdings.

OTCPK:MSAD.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= ¥5,350.36 * 7.1%
¥378.02
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. ¥5,350.36
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:MSAD.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.736 (1 + (1- 30.86%) (28.81%))
0.922
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.922 * 5.96%)
8.22%

Discounted Cash Flow Calculation for OTCPK:MSAD.F using Excess Returns Model Model

The calculations below outline how an intrinsic value for MS&AD Insurance Group Holdings 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.

OTCPK:MSAD.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.1% – 8.22%) * ¥5,350.36)
¥-61.94
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ¥-61.94 / (8.22% - 2.73%)
¥-1,127.67
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ¥5,350.36 + ¥-1,127.67
¥4222.69
OTCPK:MSAD.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:MSAD.F represents 0.0091x of TSE:8725
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0091x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 4,222.69 x 0.0091
$38.41
Value per share (USD) From above. $38.41
Current discount Discount to share price of $30.19
= -1 x ($30.19 - $38.41) / $38.41
21.4%

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

Current Discount
Amount off the current price MS&AD Insurance Group Holdings is available for.
Intrinsic value
21%
Share price is $30.19 vs Future cash flow value of $38.41
Current Discount Checks
For MS&AD Insurance Group Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MS&AD Insurance Group Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MS&AD Insurance Group Holdings's share price is below the future cash flow value, but not 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 MS&AD Insurance Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MS&AD Insurance Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:MSAD.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥393.46
TSE:8725 Share Price ** TSE (2019-05-14) in JPY ¥3319
United States of America Insurance Industry PE Ratio Median Figure of 89 Publicly-Listed Insurance Companies 17.47x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

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

** Primary Listing of MS&AD Insurance Group Holdings.

OTCPK:MSAD.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:8725 Share Price ÷ EPS (both in JPY)

= 3319 ÷ 393.46

8.44x

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

  • MS&AD Insurance Group Holdings is good value based on earnings compared to the US Insurance industry average.
  • MS&AD Insurance Group Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does MS&AD Insurance Group Holdings's expected growth come at a high price?
Raw Data
OTCPK:MSAD.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
3.2%per year
United States of America Insurance Industry PEG Ratio Median Figure of 67 Publicly-Listed Insurance Companies 1.58x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

OTCPK:MSAD.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.44x ÷ 3.2%

2.6x

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

  • MS&AD Insurance Group Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MS&AD Insurance Group Holdings's assets?
Raw Data
OTCPK:MSAD.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥4,556.61
TSE:8725 Share Price * TSE (2019-05-14) in JPY ¥3319
United States of America Insurance Industry PB Ratio Median Figure of 119 Publicly-Listed Insurance Companies 1.19x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:MSAD.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8725 Share Price ÷ Book Value per Share (both in JPY)

= 3319 ÷ 4,556.61

0.73x

* Primary Listing of MS&AD Insurance Group Holdings.

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

  • MS&AD Insurance Group Holdings is good value based on assets compared to the US Insurance industry average.
X
Value checks
We assess MS&AD Insurance Group Holdings'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. MS&AD Insurance Group Holdings has a total score of 4/6, 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.

Future Performance

 How is MS&AD Insurance Group Holdings expected to perform in the next 1 to 3 years based on estimates from 5 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
3.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MS&AD Insurance Group Holdings expected to grow at an attractive rate?
  • MS&AD Insurance Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • MS&AD Insurance Group Holdings's earnings growth is positive but not above the United States of America market average.
  • MS&AD Insurance Group Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:MSAD.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:MSAD.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 3.2%
OTCPK:MSAD.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 9.4%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:MSAD.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:MSAD.F Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 5,698,300 242,250 1
2022-03-31 5,717,400 223,733 2
2021-03-31 5,644,907 209,003 4
2020-03-31 5,492,325 202,322 5
2019-03-31 5,447,921 202,001 5
OTCPK:MSAD.F Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 4,949,190 231,503
2018-09-30 5,161,737 901,169 124,624
2018-06-30 5,060,412 146,249
2018-03-31 5,093,990 822,640 154,057
2017-12-31 5,433,470 98,427
2017-09-30 5,722,264 1,034,763 187,763
2017-06-30 5,722,136 264,058
2017-03-31 5,328,726 1,086,948 210,447
2016-12-31 5,311,963 220,494
2016-09-30 5,151,360 1,197,162 193,931
2016-06-30 4,832,835 122,271
2016-03-31 4,926,518 1,291,017 181,516

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MS&AD Insurance Group Holdings's earnings are expected to grow by 3.2% yearly, however this is not considered high growth (20% yearly).
  • MS&AD Insurance Group Holdings's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
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
OTCPK:MSAD.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from MS&AD Insurance Group Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MSAD.F Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 450.10 450.10 450.10 1.00
2022-03-31 399.63 416.60 382.66 2.00
2021-03-31 372.47 405.60 320.12 7.00
2020-03-31 350.51 385.12 309.71 10.00
2019-03-31 343.91 377.81 316.94 10.00
OTCPK:MSAD.F Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 393.46
2018-09-30 210.97
2018-06-30 246.91
2018-03-31 260.05
2017-12-31 165.94
2017-09-30 315.62
2017-06-30 442.31
2017-03-31 350.95
2016-12-31 366.11
2016-09-30 321.10
2016-06-30 201.90
2016-03-31 298.72

*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.
  • MS&AD Insurance Group Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MS&AD Insurance Group Holdings'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
MS&AD Insurance Group Holdings has a total score of 1/6, 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.

Past Performance

  How has MS&AD Insurance Group Holdings 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 MS&AD Insurance Group Holdings's growth in the last year to its industry (Insurance).
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.
  • MS&AD Insurance Group Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • MS&AD Insurance Group Holdings's 1-year earnings growth exceeds its 5-year average (135.2% vs 10.3%)
  • MS&AD Insurance Group Holdings's earnings growth has exceeded the US Insurance industry average in the past year (135.2% vs 6.6%).
Earnings and Revenue History
MS&AD Insurance Group Holdings'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 MS&AD Insurance Group Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MSAD.F Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,949,190.00 231,503.00 684,885.00
2018-09-30 5,161,737.00 124,624.00 683,251.00
2018-06-30 5,060,412.00 146,249.00 676,994.00
2018-03-31 5,093,990.00 154,057.00 669,855.00
2017-12-31 5,433,470.00 98,427.00 663,131.00
2017-09-30 5,722,264.00 187,763.00 655,292.00
2017-06-30 5,722,136.00 264,058.00 650,134.00
2017-03-31 5,328,726.00 210,447.00 655,822.00
2016-12-31 5,311,963.00 220,494.00 641,881.00
2016-09-30 5,151,360.00 193,931.00 625,878.00
2016-06-30 4,832,835.00 122,271.00 616,341.00
2016-03-31 4,926,518.00 181,516.00 591,009.00
2015-12-31 4,683,750.00 100,255.00 587,004.00
2015-09-30 4,516,398.00 112,582.00 583,083.00
2015-06-30 4,645,195.00 168,797.00 577,422.00
2015-03-31 4,653,426.00 136,247.00 578,038.00
2014-12-31 4,706,405.00 140,533.00 580,443.00
2014-09-30 4,743,207.00 93,552.00 579,929.00
2014-06-30 4,606,429.00 75,058.00 572,927.00
2014-03-31 4,354,644.00 93,451.00 559,472.00
2013-12-31 4,489,969.00 148,844.00 535,688.00
2013-09-30 4,529,432.00 202,632.00 522,126.00
2013-06-30 4,491,840.00 155,510.00 4,679.00
2013-03-31 4,187,484.00 83,625.00 509,965.00
2012-12-31 4,176,431.00 127,880.00 507,179.00
2012-09-30 3,734,047.00 -186,050.00 510,444.00
2012-06-30 3,373,989.00 -196,325.00 511,983.00

*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.
  • MS&AD Insurance Group Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MS&AD Insurance Group Holdings used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.
  • MS&AD Insurance Group Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MS&AD Insurance Group Holdings'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 Insurance 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.
MS&AD Insurance Group Holdings has a total score of 4/6, 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.

Health

 How is MS&AD Insurance Group Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MS&AD Insurance Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MS&AD Insurance Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MS&AD Insurance Group Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MS&AD Insurance Group Holdings'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6x debt.
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 MS&AD Insurance Group Holdings Company Filings, last reported 4 months ago.

OTCPK:MSAD.F Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,687,004.00 558,191.00 1,854,036.00
2018-09-30 2,936,966.00 558,191.00 1,813,520.00
2018-06-30 2,979,491.00 558,191.00 1,888,153.00
2018-03-31 2,968,386.00 795,102.00 1,798,337.00
2017-12-31 3,138,946.00 558,191.00 1,876,210.00
2017-09-30 2,941,443.00 428,191.00 1,722,152.00
2017-06-30 2,822,703.00 456,191.00 1,662,429.00
2017-03-31 2,734,431.00 666,809.00 1,711,721.00
2016-12-31 2,748,244.00 436,786.00 1,435,600.00
2016-09-30 2,467,629.00 339,006.00 1,368,505.00
2016-06-30 2,491,177.00 345,152.00 1,282,248.00
2016-03-31 2,725,273.00 672,332.00 1,389,187.00
2015-12-31 3,017,360.00 226,190.00 1,565,060.00
2015-09-30 2,821,263.00 226,190.00 1,733,714.00
2015-06-30 3,130,743.00 226,189.00 935,028.00
2015-03-31 3,036,244.00 326,197.00 994,163.00
2014-12-31 2,877,948.00 226,187.00 976,094.00
2014-09-30 2,563,279.00 226,187.00 893,267.00
2014-06-30 2,422,256.00 226,186.00 810,384.00
2014-03-31 2,285,831.00 326,196.00 816,073.00
2013-12-31 2,448,394.00 291,183.00 809,116.00
2013-09-30 2,283,830.00 291,181.00 828,216.00
2013-06-30 2,134,194.00 291,178.00 786,508.00
2013-03-31 2,021,625.00 341,223.00 715,523.00
2012-12-31 1,643,863.00 291,174.00 749,273.00
2012-09-30 1,367,787.00 321,171.00 807,417.00
2012-06-30 1,427,090.00 271,168.00 850,848.00
  • MS&AD Insurance Group Holdings's level of debt (20.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (11.9% vs 20.8% today).
  • Debt is well covered by operating cash flow (161.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 37.1x coverage).
X
Financial health checks
We assess MS&AD Insurance Group Holdings'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. MS&AD Insurance Group Holdings has a total score of 4/6, 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.

Dividends

 What is MS&AD Insurance Group Holdings'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
4.22%
Current annual income from MS&AD Insurance Group Holdings dividends. Estimated to be 4.9% next year.
If you bought $2,000 of MS&AD Insurance Group Holdings shares you are expected to receive $84 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?
  • MS&AD Insurance Group Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • MS&AD Insurance Group Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
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
OTCPK:MSAD.F 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 5 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 80 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:MSAD.F Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 200.00 2.00
2022-03-31 180.00 3.00
2021-03-31 162.50 8.00
2020-03-31 150.00 10.00
2019-03-31 139.00 10.00
OTCPK:MSAD.F Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-14 140.000 4.166
2018-11-19 140.000 4.294
2018-06-25 130.000 3.742
2018-05-18 130.000 3.677
2017-08-09 130.000 3.595
2017-06-26 130.000 3.370
2017-05-19 130.000 3.345
2016-06-22 100.000 3.052
2016-05-20 100.000 3.378
2015-06-22 70.000 2.081
2015-05-20 70.000 1.827
2015-02-13 58.000 1.701
2014-11-21 58.000 2.042
2014-11-19 58.000 2.245
2014-08-08 58.000 2.471
2014-06-23 56.000 2.361
2014-05-19 56.000 2.297
2014-02-14 56.000 2.374
2013-11-22 56.000 2.126
2013-11-19 56.000 2.041
2013-08-09 56.000 2.195
2013-06-26 54.000 2.006
2013-05-20 56.000 2.241
2013-02-14 54.000 2.396
2012-11-22 54.000 3.225
2012-11-19 54.000 3.728
2012-08-10 54.000 4.030
2012-06-26 54.000 4.125
2012-05-18 54.000 4.302
2012-02-13 54.000 3.380
2011-11-25 54.000 3.615
2011-08-10 54.000 3.325
2011-05-19 54.000 2.864
2011-02-14 54.000 2.780
2010-11-26 54.000 2.685
2010-11-19 54.000 2.736
2010-06-07 54.000 2.718
2010-05-20 54.000 2.433
2010-02-12 54.000 2.201
2009-11-19 54.000 2.294
2009-06-25 54.000 2.253
2009-05-20 54.000 1.974

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of MS&AD Insurance Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x 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 MS&AD Insurance Group Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 MS&AD Insurance Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MS&AD Insurance Group Holdings has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of MS&AD Insurance Group Holdings'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
Yasuyoshi Karasawa
COMPENSATION ¥102,000,000
AGE 68
TENURE AS CEO 4.9 years
CEO Bio

Mr. Yasuyoshi Karasawa has been the President and Chief Executive Officer of MS&AD Insurance Group Holdings, Inc. since June, 2014. Mr. Karasawa has been the Chairman of Mitsui Sumitomo Insurance Co., Ltd. since April 01, 2016. He has business experience in corporate planning, sales, corporate communications, financial planning, etc. He Entered The Sumitomo Marine and Fire Insurance Co., Ltd. in April 1975. He served as the Chief Executive Officer and President of Mitsui Sumitomo Insurance Co., Ltd. since April 2010 until April 01, 2016. Mr. Karasawa served as an Executive Officer of MS&AD Insurance Group Holdings, Inc. He served as Senior Executive Officer at Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of Mitsui Sumitomo Insurance Group Holdings, Inc. since 2008. He served as Senior Executive Officer of Mitsui Sumitomo Insurance Group Holdings, Inc. since April 2009. He served as an Executive Officer of Mitsui Sumitomo Insurance Group Holdings, Inc. since 2004. He served as a Managing Executive Officer of Mitsui Sumitomo Insurance since 2006. He has been a Representative Director of MS&AD Insurance Group Holdings, Inc. since April 1, 2008. Mr. Karasawa served as a Director at Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of Mitsui Sumitomo Insurance Group Holdings, Inc. since April 1, 2009. He has been a Director of Mitsui Sumitomo Insurance Co., Ltd. since 2005.

CEO Compensation
  • Yasuyoshi's compensation has been consistent with company performance over the past year.
  • Yasuyoshi's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the MS&AD Insurance Group Holdings management team in years:

2.5
Average Tenure
62
Average Age
  • The tenure for the MS&AD Insurance Group Holdings management team is about average.
Management Team

Yasuyoshi Karasawa

TITLE
President
COMPENSATION
¥102M
AGE
68
TENURE
4.9 yrs

Hisahito Suzuki

TITLE
Chairman of the Board
AGE
68

Shiro Fujii

TITLE
Executive VP
AGE
62
TENURE
3 yrs

Shinichiro Funabiki

TITLE
Sr. Exec. Officer
AGE
58
TENURE
2.1 yrs

Takashi Kuroda

TITLE
Executive Officer of Marketing & Sales and Director
AGE
62

Fumiaki Ohkawabata

TITLE
Senior Executive Officer & Chief Risk Officer
AGE
60
TENURE
1.1 yrs

Hidema Jinno

TITLE
Executive Officer
TENURE
3.9 yrs

Shirai Yusuke

TITLE
Executive Officer & GM of Corporate Planning Department
TENURE
0.1 yrs

William McKee

TITLE
Chief Executive Officer of Mitsui Sumitomo Insurance Group At Lloyd's

Ryuhei Funaki

TITLE
President of Mitsui Direct General Insurance Co.
Board of Directors Tenure

Average tenure and age of the MS&AD Insurance Group Holdings board of directors in years:

3.9
Average Tenure
63.5
Average Age
  • The tenure for the MS&AD Insurance Group Holdings board of directors is about average.
Board of Directors

Yasuyoshi Karasawa

TITLE
President
COMPENSATION
¥102M
AGE
68
TENURE
11.1 yrs

Hisahito Suzuki

TITLE
Chairman of the Board
AGE
68
TENURE
4.9 yrs

Shiro Fujii

TITLE
Executive VP
AGE
62
TENURE
4.9 yrs

Takashi Kuroda

TITLE
Executive Officer of Marketing & Sales and Director
AGE
62
TENURE
0.9 yrs

Yasuzo Kanasugi

TITLE
Executive Officer & Representative Director
AGE
62
TENURE
4.9 yrs

Noriyuki Hara

TITLE
Executive Officer & Representative Director
AGE
63
TENURE
2.9 yrs

Masahiro Higuchi

TITLE
Executive Officer of Claims Services & Director
AGE
59
TENURE
0.9 yrs

Mari Matsunaga

TITLE
Outside Director
AGE
64
TENURE
6.9 yrs

Mariko Bando

TITLE
Outside Director
AGE
72
TENURE
1.9 yrs

Akira Arima

TITLE
Outside Director
AGE
69
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess MS&AD Insurance Group Holdings'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. MS&AD Insurance Group Holdings 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.

News

Simply Wall St News

Company Info

Description

MS&AD Insurance Group Holdings, Inc., an insurance holding company, provides insurance and financial services worldwide. The company offers various life and non-life insurance products, including fire and allied, marine, personal accident, voluntary automobile, compulsory automobile liability, medical and nursing care, and other insurance products; individual annuity insurance and whole life insurance products; and reinsurance services, as well as income guarantee insurance products. It also provides financial services, including asset management, financial guarantees, 401k, alternative risk transfer, personal finance, and venture capital finance; and risk management services. In addition, the company offers administration, credit guarantee, and loan services; and roadside assistance and house support services, as well as operates retirement homes and elderly daycare centers. MS&AD Insurance Group Holdings, Inc. provides its products and services through cross-selling, as well as other sales channels, including financial institution agents, life insurance professionals, and direct marketing. The company was formerly known as Mitsui Sumitomo Insurance Group Holdings, Inc. and changed its name to MS&AD Insurance Group Holdings, Inc. in April 2010. MS&AD Insurance Group Holdings, Inc. was founded in 1918 and is headquartered in Tokyo, Japan.

Details
Name: MS&AD Insurance Group Holdings, Inc.
MSAD.F
Exchange: OTCPK
Founded: 1918
¥17,682,197,255
583,714,957
Website: http://www.ms-ad-hd.com
Address: MS&AD Insurance Group Holdings, Inc.
West Tower,
Tokyo Sumitomo Twin Building,
Tokyo,
104-0033,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8725 Common Stock The Tokyo Stock Exchange JP JPY 31. May 1994
OTCPK MSAD.F Common Stock Pink Sheets LLC US USD 31. May 1994
DB 59M Common Stock Deutsche Boerse AG DE EUR 31. May 1994
OTCPK MSAD.Y ADR Pink Sheets LLC US USD 29. May 1992
Number of employees
Current staff
Staff numbers
41,733
MS&AD Insurance Group Holdings employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:16
End of day share price update: 2019/05/14 00:00
Last estimates confirmation: 2019/05/02
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.