GLRE Stock Fair Value – GREENLIGHT CAPITAL RE Posts Record-Breaking 43.2% Increase in Revenue for FY2023 Q2

☀️Earnings Overview

GREENLIGHT CAPITAL RE ($NASDAQ:GLRE) reported total revenue of USD 156.9 million for the second quarter of the financial year 2023, which ended on June 30 2023, an increase of 43.2% from the same period in the previous year. The net income for the quarter was USD 49.9 million, compared to 14.8 million in the year prior.

Analysis – GLRE Stock Fair Value

GoodWhale has conducted an in-depth analysis on the well-being of GREENLIGHT CAPITAL RE. Our proprietary Valuation Line has an estimated fair value of GREENLIGHT CAPITAL RE share at around $8.5. However, the current stock is trading at $10.4, implying that it is overvalued by 21.9%. It is important to note that this analysis should not be taken as investment advice and should be used for informational purposes only. Investors should do their own research to determine if investing in GREENLIGHT CAPITAL RE is appropriate for their financial goals. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for GLRE. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for GLRE. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for GLRE. More…

Key Ratios Snapshot

Some of the financial key ratios for GLRE are shown below. More…

Peers

The company offers a wide range of products and services to its clients, which include insurance companies, reinsurers, and other financial institutions. Greenlight Capital Re Ltd. has a strong presence in the global reinsurance market and is one of the largest providers of reinsurance in the world. The company has a strong competitive advantage over its competitors due to its diversified product portfolio, strong financial position, and experienced management team.

– Brighthouse Financial Inc ($NASDAQ:BHF)

As of 2022, Brighthouse Financial has a market cap of 4.11B and a ROE of 14.76%. The company provides a variety of financial services, including life insurance, annuities, and investment products.

– MetLife Inc ($NYSE:MET)

MetLife, Inc. is an American multinational life insurance corporation, which offers life insurance, annuities, long-term care insurance, disability income insurance, and other financial services products. As of 2020, it was the largest life insurer in the United States based on assets and 13th largest in the world based on revenue.

The company has a market cap of 58.34B as of 2022 and a Return on Equity of 7.96%. MetLife is one of the largest life insurers in the United States and offers a variety of financial services products, including life insurance, annuities, long-term care insurance, and disability income insurance. The company has a strong financial position and is well-positioned to continue growing its business and delivering value to shareholders.

– Oxbridge Re Holdings Ltd ($NASDAQ:OXBR)

Oxbridge Re Holdings Ltd is a holding company that reinsures mortgage insurance policies. The company has a market cap of 11.91M as of 2022 and a ROE of 30.09%. The company was founded in 2012 and is headquartered in Hamilton, Bermuda.

Summary

Greenlight Capital RE (GLCRE) had a successful second quarter of FY2023, with a 43.2% increase in total revenue from the same period in the prior year. Net income for the quarter was also up significantly, from 14.8 million to 49.9 million. From an investing perspective, GLCRE appears to be on a strong growth trajectory.

The company is well-positioned for continued success, as it continues to invest in new projects and strategies to build on its current success. Strong financial stability and profitability are key indicators for potential investors to consider when assessing GLCRE’s potential value.