Greenlight Capital Re, Ltd. (GLRE) vs RenaissanceRe Holdings Ltd. (RNR)

Greenlight Capital Re, Ltd. and RenaissanceRe Holdings Ltd. are both Insurance Reinsurance companies. RenaissanceRe Holdings Ltd. is the larger, with a market value of $13.7B against $487.3M — 28.2× the size. RenaissanceRe Holdings Ltd. trades at the lower P/E: 5.6× against 9.9×. Greenlight Capital Re, Ltd. grew revenue faster over the last twelve months: −2.81% against −14.0%. RenaissanceRe Holdings Ltd. has the higher net margin (23.0% vs 7.47%) and the lower return on invested capital (21.5% vs 63.7%). Across the 21 metrics below, Greenlight Capital Re, Ltd. leads on 12 and RenaissanceRe Holdings Ltd. on 9.

Valuation

Metric GLRE RNR Insurance Reinsurance median
P/E 9.86 5.57 7.83
P/S 0.72 1.21 0.90
P/B 0.71 1.22 1.17
Price to free cash flow 2.47 3.74 4.05
EV/EBITDA n/m 3.25 3.25
EV/Sales (0.15) 1.30 0.95
Earnings yield 10.14% 17.95% 11.46%
Free cash flow yield 40.47% 26.76% 19.30%

Profitability

Metric GLRE RNR Insurance Reinsurance median
Gross margin 15.73% 45.20% 40.53%
Operating margin 15.73% 40.74% 14.54%
Net margin 7.47% 22.95% 9.44%
Free cash flow margin 29.19% 32.38% 18.88%
Return on equity 7.50% 24.20% 12.10%
Return on assets 2.31% 4.65% 2.72%
Return on invested capital 63.68% 21.46% 15.70%

Growth

Metric GLRE RNR Insurance Reinsurance median
Revenue growth (TTM) (2.81%) (13.98%) 17.45%
EPS growth (last fiscal year) 75.00% 59.13% —
Revenue growth, 5-year CAGR 8.56% 19.96% 14.51%
Net income growth, 5-year CAGR 80.87% 29.23% 25.23%

Health

Metric GLRE RNR Insurance Reinsurance median
Debt to equity 0.01 0.20 0.21
Current ratio 2.43 0.47 0.59
Net debt to EBITDA (4.82) 0.15 (0.03)

Dividend

Metric GLRE RNR Insurance Reinsurance median
Dividend yield — 0.70% —
Payout ratio 0.00 0.19 0.00

Size

Metric GLRE RNR Insurance Reinsurance median
Market cap 487.34m 13.73b 3.15b

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