Vericity Stock Fair Value – VERICITY Reports Q3 Earnings Results For FY2023
November 21, 2023
🌥️Earnings Overview
On November 14, 2023, VERICITY ($NASDAQ:VERY) released their earnings report for the third quarter of FY2023, ending September 30, 2023. Total revenue had increased by 10.0% year-over-year to USD 43.7 million, while net income had decreased from -5.1 million in the third quarter of FY2022 to -8.0 million.
Share Price
On Tuesday, VERICITY reported its Q3 earnings results for FY2023. Stock opened at $11.1 and closed the day at $11.0. This was a slight decrease compared to the previous quarter’s earnings, but overall revenue was slightly higher year-over-year. In terms of outlook, VERICITY stated they expect their revenue to continue growing in the coming quarters.
They also anticipate that their operating expenses will remain consistent, and that their net income will likely stay the same with no major changes on the horizon. The company’s outlook is optimistic for the future, with no major changes expected in terms of net income or operating expenses. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vericity. VERICITY_Reports_Q3_Earnings_Results_For_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 175 | -15.24 | -8.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vericity. VERICITY_Reports_Q3_Earnings_Results_For_FY2023″>More…
| Operations | Investing | Financing |
| 1.6 | -7.12 | 0.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vericity. VERICITY_Reports_Q3_Earnings_Results_For_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 796.18 | 696.86 | 6.68 |
Key Ratios Snapshot
Some of the financial key ratios for Vericity are shown below. VERICITY_Reports_Q3_Earnings_Results_For_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.5% | – | – |
| FCF Margin | ROE | ROA |
| 0.9% | -10.1% | -1.4% |
Analysis – Vericity Stock Fair Value
At GoodWhale, we have completed a fundamental review of VERICITY‘s shares, and have determined their intrinsic value to be around $8.3. We have established this value using our proprietary Valuation Line, which is used to determine the estimated worth of a company’s stock. Currently, the stock is being traded at $11.0, which is 33.0% higher than our calculated intrinsic value. More…
Peers
With a wide range of products and services, Vericity Inc stands out among its competitors such as Nobleoak Life Ltd, GWG Holdings Inc, and Mercuries Life Insurance Co Ltd. All four companies provide a variety of life and health insurance services, offering customers a variety of options to choose from.
– Nobleoak Life Ltd ($ASX:NOL)
Nobleoak Life Ltd is a leading provider of life insurance products and services in Australia. As of 2023, the company has a market cap of 154.73M. This figure indicates the company’s worth and its success in the industry. Nobleoak Life Ltd provides a range of life insurance products such as term life, whole life, and trauma cover, as well as income protection, business expense cover and more. The company has established itself as a trusted provider of life insurance products with a focus on providing comprehensive and accessible coverage for Australians.
– GWG Holdings Inc ($OTCPK:GWGHQ)
GWG Holdings Inc is an American financial services company that specializes in providing alternative investments to individuals and institutions. It has a market cap of 6.23 million USD as of 2023, making it a relatively small company compared to other financial services companies. Its Return on Equity (ROE) of 65.04% is an impressive figure and indicates that GWG Holdings Inc is able to generate higher returns from its equity investments than many other companies in its sector. This suggests that the company has a competitive advantage in terms of its ability to generate profits from its investments.
– Mercuries Life Insurance Co Ltd ($TWSE:2867)
Mercuries Life Insurance Co Ltd is a life insurance company headquartered in Hong Kong and has a market capitalization of 22.3 billion as of 2023. The company provides life insurance and other financial services to its customers. The Return on Equity (ROE), which measures the firm’s profitability, currently stands at -14.48%, suggesting that the company is struggling to generate a profit. Despite this, Mercuries Life Insurance Co Ltd remains an attractive investment opportunity due to its strong market cap and established customer base.
Summary
VERICITY reported their earnings results for the third quarter of FY2023, with total revenue of USD 43.7 million, up 10.0% from the same period in the previous year. Net income was USD -8.0 million, compared to -5.1 million in Q3 FY2022. This presents a difficult picture for investors, as the net income has fallen year on year and does not support the rise in revenue.
It is likely to make a further impact on share price as investors take into account the financials. It is important for investors to do further research into the company’s performance in order to make an informed decision.
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