OTCPK:SYCR.F

Stock Analysis Report

Executive Summary

Syncora Holdings Ltd., through its subsidiary, Syncora Guarantee Inc., provides financial guarantee insurance and reinsurance, and credit enhancement for the obligations of debt issuers worldwide.


Snowflake Analysis

Fair value with worrying balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

2.2%

SYCR.F

2.2%

US Insurance

2.0%

US Market


1 Year Return

28.9%

SYCR.F

19.7%

US Insurance

23.6%

US Market

Return vs Industry: SYCR.F exceeded the US Insurance industry which returned 20.4% over the past year.

Return vs Market: SYCR.F exceeded the US Market which returned 24.7% over the past year.


Shareholder returns

SYCR.FIndustryMarket
7 Day2.2%2.2%2.0%
30 Day6.3%1.8%3.9%
90 Day3.6%4.8%12.0%
1 Year28.9%28.9%22.8%19.7%26.2%23.6%
3 Year188.5%188.5%37.5%26.8%53.2%43.3%
5 Year185.6%185.6%74.8%53.8%75.7%56.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

23.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SYCR.F ($5.02) is trading below our estimate of fair value ($6.61)

Significantly Below Fair Value: SYCR.F is trading below fair value by more than 20%.


Price To Earnings Ratio

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

PE vs Market: SYCR.F 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 SYCR.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SYCR.F is good value based on its PB Ratio (0.9x) compared to the US Insurance industry average (1.2x).


Next Steps

Future Growth

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

6.4%

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 Syncora 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

  • Examine whether Syncora Holdings is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Syncora Holdings's filings and announcements here.
  • Explore growth companies in the Insurance industry.

Past Performance

How has Syncora Holdings performed over the past 5 years?

-28.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SYCR.F is currently unprofitable.

Growing Profit Margin: SYCR.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SYCR.F is unprofitable, and losses have increased over the past 5 years at a rate of -28.2% per year.

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

Earnings vs Industry: SYCR.F is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (-11.3%).


Return on Equity

High ROE: SYCR.F has a negative Return on Equity (-24%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Syncora 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: SYCR.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if SYCR.F's debt is covered by short term assets.


Financial Institutions Analysis

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

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

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

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

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

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


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.3%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SYCR.F'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 Syncora Holdings's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Fred Hnat (57yo)

3yrs

Tenure

0

Mr. Frederick Barton Hnat, also known as Fred, has been Chief Executive Officer and President of Syncora Holdings Ltd. since May 31, 2017. Mr. Hnat serves as Senior Vice President at Syncora Guarantee Inc. ...


Management Age and Tenure

7.3yrs

Average Tenure

58yo

Average Age

Experienced Management: SYCR.F's management team is seasoned and experienced (7.3 years average tenure).


Board Age and Tenure

4.2yrs

Average Tenure

70.5yo

Average Age

Experienced Board: SYCR.F's board of directors are considered experienced (4.2 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.


Ownership Breakdown

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


Management Team

  • Arnold Brousell (62yo)

    Chief Accounting Officer

    • Tenure: 16yrs
  • Fred Hnat (57yo)

    President

    • Tenure: 3yrs
  • Orlando Rivera (58yo)

    Head of Human Resources & Senior VP

    • Tenure: 14yrs
  • James Lundy

    General Counsel & Secretary

    • Tenure: 7.3yrs
  • David Grande

    Chief Financial Officer

    • Tenure: 3yrs
  • Scott Beinhacker

    MD & Head of Investor Relations


    Board Members

    • Coleman Ross (76yo)

      Independent Director

      • Tenure: 3.4yrs
    • Mike Esposito (79yo)

      Independent Chairman of the Board

      • Tenure: 13yrs
    • Robert Lichten (78yo)

      Independent Director

      • Tenure: 13.4yrs
    • Fred Arnold (64yo)

      Independent Director

      • Tenure: 3.1yrs
    • Robert White (72yo)

      Independent Director

      • Tenure: 11.2yrs
    • Fred Hnat (57yo)

      President

      • Tenure: 3yrs
    • Grant Gibbons (66yo)

      Independent Director

      • Tenure: 13.4yrs
    • Frank Puleo (74yo)

      Director

      • Tenure: 0.08yrs
    • Alan Carr (49yo)

      Independent Director

      • Tenure: 5yrs
    • Robert Mills (69yo)

      Independent Director

      • Tenure: 3.1yrs

    Company Information

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


    Key Information

    • Name: Syncora Holdings Ltd.
    • Ticker: SYCR.F
    • Exchange: OTCPK
    • Founded: 2006
    • Industry: Property and Casualty Insurance
    • Sector: Insurance
    • Market Cap: US$443.123m
    • Shares outstanding: 87.06m
    • Website: https://www.syncora.com

    Location

    • Syncora Holdings Ltd.
    • Canon's Court
    • 22 Victoria Street
    • Hamilton
    • HM 12
    • Bermuda

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    SYCR.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDAug 2006

    Biography

    Syncora Holdings Ltd., through its subsidiary, Syncora Guarantee Inc., provides financial guarantee insurance and reinsurance, and credit enhancement for the obligations of debt issuers worldwide. The company guarantees U.S. municipal bonds; asset-backed securities; debt backed by utilities and selected infrastructure projects; specialized risks, including future flow securitizations and bank deposit insurance; and collateralized debt obligations. It also invests in private debt and equity securities. The company was formerly known as Security Capital Assurance Ltd. Syncora Holdings Ltd. was founded in 2006 and is headquartered in Hamilton, Bermuda. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/19 00:07
    End of Day Share Price2020/01/17 00:00
    Earnings2019/09/30
    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.