Greenlight Capital Re, Ltd. (GLRE) vs SiriusPoint Ltd. (SPNT)

Greenlight Capital Re, Ltd. and SiriusPoint Ltd. are both Insurance Reinsurance companies. SiriusPoint Ltd. is the larger, with a market value of $3.1B against $528.1M — 5.8× the size. SiriusPoint Ltd. trades at the lower P/E: 6.2× against 9.4×. SiriusPoint Ltd. grew revenue faster over the last twelve months: 18.1% against 3.69%. Greenlight Capital Re, Ltd. has the higher net margin (8.56% vs 0.00%) and the higher return on invested capital (61.3% vs 0.00%). Across the 20 metrics below, Greenlight Capital Re, Ltd. leads on 13 and SiriusPoint Ltd. on 7.

Valuation

Metric GLRE SPNT Insurance Reinsurance median
P/E 9.37 6.20 9.37
P/S 0.78 0.90 0.93
P/B 0.77 1.33 1.17
Price to free cash flow 3.06 10.80 5.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 10.67% 16.13% 10.30%
Free cash flow yield 32.63% 9.26% 13.27%

Profitability

Metric GLRE SPNT Insurance Reinsurance median
Gross margin 16.75% 35.05% 35.68%
Operating margin 16.75% 0.00% 11.26%
Net margin 8.56% 0.00% 7.19%
Free cash flow margin 25.30% 8.34% 14.62%
Return on equity 8.67% 23.65% 12.20%
Return on assets 2.65% 0.00% 1.83%
Return on invested capital 61.25% 0.00% 9.11%

Growth

Metric GLRE SPNT Insurance Reinsurance median
Revenue growth (TTM) 3.69% 18.14% 16.82%
EPS growth (last fiscal year) 75.00% 250.00% 62.00%
Revenue growth, 5-year CAGR 8.56% 29.22% 14.51%
Net income growth, 5-year CAGR 80.87% 25.50% 25.23%

Health

Metric GLRE SPNT Insurance Reinsurance median
Debt to equity 0.01 0.30 0.23
Current ratio 2.40 0.58 0.59
Net debt to EBITDA (4.82) (0.20) (0.03)

Dividend

Metric GLRE SPNT Insurance Reinsurance median
Dividend yield — — —
Payout ratio — — —

Size

Metric GLRE SPNT Insurance Reinsurance median
Market cap 528.09m 3.05b 3.34b

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