(GLRE) Greenlight Capital Re - Overview
Sector: Financial Services | Industry: Insurance - Reinsurance | Exchange: NASDAQ (USA) | Market Cap: 581m USD | Total Return: 27% in 12m
Avg Turnover: 3.54M
Rev. Trend: 79.0%
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Greenlight Capital Re, Ltd. (GLRE) is a Cayman Islands-based property and casualty (P&C) reinsurer operating through its Open Market and Innovations segments. The company provides a broad array of risk-transfer solutions including casualty, financial, health, property, and specialty lines such as cyber and aerospace. Its distribution model relies primarily on a global network of reinsurance brokers to secure business from primary insurers.
The company utilizes a dual-engine business model where underwriting activities provide capital that is subsequently managed through an investment strategy historically associated with value-oriented hedge fund principles. In the reinsurance sector, firms often focus on long-tail casualty lines, allowing them to hold and invest premiums for extended periods before claims are paid. For a deeper look into the underlying fundamentals of this model, ValueRay offers additional data points.
GLRE’s specialty portfolio includes niche coverages for war, political violence, and terrorism (WPVT), as well as transactional liability and agriculture. Since its incorporation in 2004, the firm has diversified its risk appetite across both commercial and personal lines to mitigate exposure to specific catastrophic events.
- Investment returns from DME Advisors drive book value and stock performance
- Underwriting profitability depends on casualty and catastrophe loss ratios across global markets
- Rising interest rates impact fixed income portfolio yields and reinsurance pricing
- Innovations segment growth scales technology-driven underwriting and fee-based revenue streams
- Regulatory changes in the Cayman Islands affect tax status and operational costs
| Net Income: 81.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 5.62 > 1.0 |
| NWC/Revenue: -13.24% < 20% (prev 18.62%; Δ -31.85% < -1%) |
| CFO/TA 0.10 > 3% & CFO 237.1m > Net Income 81.0m |
| Net Debt (-70.3m) to EBITDA (83.3m): -0.84 < 3 |
| Current Ratio: 0.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (34.2m) vs 12m ago -0.71% < -2% |
| Gross Margin: 50.86% > 18% (prev 0.05%; Δ 5.08k% > 0.5%) |
| Asset Turnover: 30.65% > 50% (prev 30.41%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 25.19 > 6 (EBITDA TTM 83.3m / Interest Expense TTM 3.31m) |
| A: -0.04 (Total Current Assets 1.43b - Total Current Liabilities 1.52b) / Total Assets 2.27b |
| B: 0.12 (Retained Earnings 261.4m / Total Assets 2.27b) |
| C: 0.04 (EBIT TTM 83.3m / Avg Total Assets 2.21b) |
| D: 0.17 (Book Value of Equity 264.8m / Total Liabilities 1.53b) |
| Altman-Z'' = 0.55 = B |
As of May 23, 2026, the stock is trading at USD 17.61 with a total of 149,745 shares traded.
Over the past week, the price has changed by -1.88%,
over one month by -8.03%,
over three months by +22.52% and
over the past year by +26.96%.
Greenlight Capital Re has no consensus analysts rating.
| Analysts Target Price | 1 | -94.3% |
P/E Forward = 4.6447
P/S = 0.822
P/B = 0.7988
P/EG = 1.6849
Revenue TTM = 677.7m USD
EBIT TTM = 83.3m USD
EBITDA TTM = 83.3m USD
Long Term Debt = unknown (0.0)
Short Term Debt = 4.74m USD (from shortTermDebt, last quarter)
Debt = 4.74m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -70.3m USD (calculated: Debt 4.74m - CCE 75.1m)
Enterprise Value = 510.7m USD (581.1m + Debt 4.74m - CCE 75.1m)
Interest Coverage Ratio = 25.19 (Ebit TTM 83.3m / Interest Expense TTM 3.31m)
EV/FCF = 2.15x (Enterprise Value 510.7m / FCF TTM 237.1m)
FCF Yield = 46.42% (FCF TTM 237.1m / Enterprise Value 510.7m)
FCF Margin = 34.98% (FCF TTM 237.1m / Revenue TTM 677.7m)
Net Margin = 11.95% (Net Income TTM 81.0m / Revenue TTM 677.7m)
Gross Margin = 50.86% ((Revenue TTM 677.7m - Cost of Revenue TTM 333.0m) / Revenue TTM)
Gross Margin QoQ = 43.34% (prev none%)
Tobins Q-Ratio = 0.23 (Enterprise Value 510.7m / Total Assets 2.27b)
Interest Expense / Debt = 69.74% (Interest Expense 3.31m / Debt 4.74m)
Taxrate = 0.32% (115k / 35.9m)
NOPAT = 83.0m (EBIT 83.3m * (1 - 0.32%))
Current Ratio = 0.94 (Total Current Assets 1.43b / Total Current Liabilities 1.52b)
Debt / Equity = 0.01 (Debt 4.74m / totalStockholderEquity, last quarter 741.2m)
Debt / EBITDA = -0.84 (Net Debt -70.3m / EBITDA 83.3m)
Debt / FCF = -0.30 (Net Debt -70.3m / FCF TTM 237.1m)
Total Stockholder Equity = 692.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.66% (Net Income 81.0m / Total Assets 2.27b)
RoE = 11.68% (Net Income TTM 81.0m / Total Stockholder Equity 692.8m)
RoCE = 12.02% (EBIT 83.3m / Capital Employed (Equity 692.8m + L.T.Debt 0.0))
RoIC = 12.17% (NOPAT 83.0m / Invested Capital 681.8m)
WACC = 7.43% (E(581.1m)/V(585.8m) * Re(7.49%) + (debt cost/tax rate unavailable))
Discount Rate = 7.49% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -46.67 | Cagr: -1.48%
[DCF] Terminal Value 77.97% ; FCFF base≈183.8m ; Y1≈210.7m ; Y5≈310.1m
[DCF] Fair Price = 142.8 (EV 4.67b - Net Debt -70.3m = Equity 4.74b / Shares 33.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 79.03 | Revenue CAGR: 5.61% | SUE: N/A | # QB: 0