Maiden Holdings North America, Ltd. (MHNC) 10-Year Financial Performance & Capital Metrics

MHNC • • Insurance & Managed Care

Financial ServicesLife InsuranceSpecialized Life InsurersTerm Life & Basic Life Specialists

AboutPart of Maiden Holdings Ltd., Maiden Holdings North America Ltd. provides reinsurance services. The private company is located in the US.Show more

Revenue $56M -2.9%
Combined Ratio 62.63% -69.3%
Net Income -$201M -462.6%
Return on Equity -883.82% -105.3%
Medical Cost Ratio 0%
Operating Margin 37.37% -71.2%
Net Margin -356.1% -473.4%
ROA -30.5% -101.1%
Equity / Assets 3.43% -77.7%
Book Value per Share 0.45 +13755.1%
Tangible BV/Share 0.45 +13755.2%
Debt/Equity -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 7178.2%

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Shares diluted 14.6% in last year
✗Expensive at 35.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-86.48%

3Y-

TTM2.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-363.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-18.46%

ROCE

10Y Avg7150.18%

5Y Avg944.38%

3Y Avg1542.56%

Latest3.2%

Peer Comparison

Term Life & Basic Life Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GNWGenworth Financial, Inc.	3.31B	8.30	12.21	-3.09%	3.1%	2.24%	2.65%	0.16
MHNCMaiden Holdings North America, Ltd.	1.58B	15.87	-7.90	-2.92%	-247.48%	-405.36%

Profit & Loss

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2020	Dec 2021	Dec 2022	Dec 2024
Revenue+	419.77B	983.15B	1.25T	1.64T	0	98.72M	58.13M	56.44M
Revenue Growth %	-	1.34%	0.27%	0.31%	-1%	-	-0.41%	-0.03%
Medical Costs & Claims+	1.25B	38.73B	5.81B	5.03B	0	0	0	0
Medical Cost Ratio %	-	-	-	-	-	-	-	-
Gross Profit+	418.51B	944.42B	1.24T	1.64T	0	98.72M	58.13M	56.44M
Gross Margin %	-	-	-	-	-	-	-	-
Gross Profit Growth %	-	1.26%	0.32%	0.32%	-1%	-	-0.41%	-0.03%
Operating Expenses+	14.97B	0	42.18B	53.89B	8.48M	36.02M	118.53M	35.35M
OpEx / Revenue %	-	-	-	-	-	-	-	-
Depreciation & Amortization	0	0	0	0	8.69M	19.33M	228.49K	0
Combined Ratio %	-	-	-	-	-	-	-	-
Operating Income+	403.54B	62.4B	1.2T	1.58T	8.48M	26.66M	75.32M	21.09M
Operating Margin %	-	-	-	-	-	-	-	-
Operating Income Growth %	-	-0.85%	18.23%	0.32%	-1%	2.14%	1.83%	-0.72%
EBITDA+	403.54B	62.4B	1.2T	1.58T	17.17M	45.99M	75.55M	21.09M
EBITDA Margin %	-	-	-	-	-	-	-	-
Interest Expense	0	34.43B	36.47B	34.16B	0	19.33M	19.33M	19.27M
Non-Operating Income	0	0	1.09T	1.52T	0	0	0	201.74M
Pretax Income+	18.79B	62.4B	71.19B	30.45B	0	26.66M	55.99M	-199.91M
Pretax Margin %	-	-	-	-	-	-	-	-
Income Tax+	0	1.34B	1.33B	1.93B	0	15K	557K	1.05M
Effective Tax Rate %	-	-	-	-	-	-	-	-
Net Income+	18.79B	61.06B	69.87B	28.52B	0	26.64M	55.43M	-200.97M
Net Margin %	-	-	-	-	-	-	-	-
Net Income Growth %	-	2.25%	0.14%	-0.59%	-1%	-	1.08%	-4.63%
EPS (Diluted)+	0.00	0.00	0.00	0.00	0.00	0.31	0.64	-2.01
EPS Growth %	-	-	-	-	-	-	1.06%	-4.14%
EPS (Basic)	0.00	0.00	0.00	0.00	0.00	0.31	0.64	-2.01
Diluted Shares Outstanding	59.34T	70.06T	71.37T	72.9T	84.94M	86.55M	87.16M	99.9M

Balance Sheet

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2020	Dec 2021	Dec 2022	Dec 2024
Total Assets+	2.13B	2.64B	2.98B	3.35T	2.95M	2.32M	1.85M	1.32B
Asset Growth %	-	0.24%	0.13%	1123.55%	-1%	-0.21%	-0.2%	711.56%
Total Investment Assets+	0	0	0	2.02T	0	822.61K	160.32K	0
Long-Term Investments	0	0	0	0	0	-66.09K	80.16K	0
Short-Term Investments	0	0	0	0	0	888.7K	80.16K	0
Total Current Assets+	131.9M	107.4M	96.2M	570.75B	1.46M	908.21K	1.09M	55.54M
Cash & Equivalents	131.9M	107.4M	96.2M	188.08B	1.46M	888.7K	633.68K	34.73M
Receivables	0	0	0	1000K	5.78K	19.51K	452.12K	1000K
Other Current Assets	0	0	0	0	0	-888.7K	-80.16K	0
Goodwill & Intangibles+	0	0	0	98.75B	0	0	0	0
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	382.67B	0	0	0	0
PP&E (Net)	0	0	0	0	0	0	0	0
Other Assets	0	0	0	0	0	66.09K	0	0
Total Liabilities	0	0	0	0	2.42M	1.94M	1.56M	1.27B
Total Debt+	0	0	0	0	0	0	0	0
Net Debt	-131.9M	-107.4M	-96.2M	-188.08B	-1.46M	-888.66K	-633.68K	-34.73M
Long-Term Debt	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0
Total Current Liabilities+	0	0	0	0	0	0	0	0
Accounts Payable	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	1.94M	0	0
Total Equity+	509.8M	676.5M	750.2M	768.98B	527.82K	384.26K	284.58K	45.19M
Equity Growth %	-	0.33%	0.11%	1024.03%	-1%	-0.27%	-0.26%	157.81%
Shareholders Equity	509.8M	676.5M	750.2M	768.64B	527.82K	384.26K	284.58K	45.19M
Minority Interest	0	0	0	338M	0	0	0	0
Retained Earnings	0	0	0	128.65B	-615.84M	-498.3K	-442.86K	-687.91M
Common Stock	0	0	0	732M	898K	923K	1.49K	1.5M
Accumulated OCI	0	0	0	64.06B	23.86K	-12.21K	-41.23K	-32.73M
Return on Equity (ROE)	36.87%	102.94%	97.94%	0.07%	-	58.43%	165.76%	-8.84%
Return on Assets (ROA)	8.83%	25.63%	24.87%	0.02%	-	10.11%	26.59%	-0.3%
Equity / Assets	-	-	-	-	-	-	-	-
Debt / Equity	-	-	-	-	-	-	-	-
Book Value per Share	0.00	0.00	0.00	0.01	0.01	0.00	0.00	0.45
Tangible BV per Share	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2020	Dec 2021	Dec 2022	Dec 2024
Cash from Operations+	589.39B	41.98B	151.58B	181.35B	-541.77M	0	-195.93M	-67.45M
Operating CF Growth %	-	-0.93%	2.61%	0.2%	-1%	1%	-	0.66%
Operating CF / Revenue %	-	-	-	-	-	-	-	-
Net Income	18.79B	61.06B	69.86B	28.53B	0	26.64M	-60.04M	-200.97M
Depreciation & Amortization	1.31B	7.36B	7.21B	8.6B	8.69M	0	0	0
Stock-Based Compensation	-1.7B	-5.47B	-3.59B	22.24B	0	0	0	-5.26M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	570.98B	-20.96B	78.1B	121.99B	-584.02M	-26.09M	-112K	138.78M
Working Capital Changes	0	0	0	0	24.87M	-553.68K	-135.78M	0
Cash from Investing+	-716.93B	-173.43B	-125.19B	13.25B	596.04M	0	188.79M	77.74M
Capital Expenditures	0	0	0	0	0	0	0	0
Acquisitions	-108.64B	-13.61B	-4.89B	635M	0	0	0	0
Purchase of Investments	-479.24B	-891.47B	-1.03T	-637.31B	-36.82M	0	-95.56M	-37.77M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K
Other Investing	-458.19B	531.44B	-710.61B	-374.67B	127.47M	0	218.74M	14.57M
Cash from Financing+	223.71B	105.89B	-37.24B	-20.92B	-30.13M	0	-10.98M	-3.73M
Dividends Paid	-8.93B	-12.65B	-18.39B	-20.92B	0	0	0	0
Share Repurchases	0	0	0	0	-1K	0	-1.01M	-3.73M
Stock Issued	0	0	0	0	0	0	0	0
Debt Issuance (Net)	0	0	0	0	0	0	0	0
Other Financing	232.65B	118.54B	-18.84B	0	-30.13M	0	-10.98M	-3.73M
Net Change in Cash+	96.17B	-24.5B	-11.24B	-25.14B	28.55M	0	-19.46M	5.41M
Exchange Rate Effect	0	1000K	-1000K	-1000K	1000K	0	-1000K	-1000K
Cash at Beginning	35.73B	131.9B	107.4B	0	107.28M	135.83M	66.09M	42.68M
Cash at End	131.9B	107.4B	96.15B	-25.14B	135.83M	135.83M	46.62M	48.08M
Free Cash Flow+	589.39B	41.98B	151.58B	181.35B	-541.77M	0	-195.93M	-67.45M
FCF Growth %	-	-0.93%	2.61%	0.2%	-1%	1%	-	0.66%
FCF Margin %	-	-	-	-	-	-	-	-
FCF per Share	0.01	0	0	0	-6.38	-	-2.25	-0.68

Key Ratios

Metric	2008	2009	2010	2011	2020	2021	2022	2024
Combined Ratio	3.87%	3.94%	3.85%	3.59%	-	36.49%	203.89%	62.63%
Medical Cost Ratio	0.3%	3.94%	0.47%	0.31%	-	0%	0%	0%
Return on Equity (ROE)	3686.54%	10293.85%	9794.07%	7.41%	-	5842.73%	16575.66%	-883.82%
Return on Assets (ROA)	882.93%	2562.5%	2486.56%	1.7%	-	1010.99%	2658.94%	-30.5%
Equity / Assets	23.95%	25.66%	25.15%	22.93%	17.9%	16.54%	15.41%	3.43%
Book Value / Share	0	0	0	0.01	0.01	0	0	0.45
Revenue Growth	-	134.21%	26.94%	31.44%	-100%	-	-41.11%	-2.92%

Revenue by Segment

	2012	2013	2014	2015	2016	2017	2018
Diversified Reinsurance	795.34M	762.06M	854.03M	744.88M	724.12M	823.37M	112.49M
Diversified Reinsurance Growth	-	-4.18%	12.07%	-12.78%	-2.79%	13.70%	-86.34%
AmTrust Reinsurance	-	-	1.38B	1.68B	1.84B	1.91B	-
AmTrust Reinsurance Growth	-	-	-	22.19%	9.47%	3.58%	-
AmTrust Quota Share Reinsurance	727.78M	988.9M	-	-	-	-	-
AmTrust Quota Share Reinsurance Growth	-	35.88%	-	-	-	-	-
NGHC Quota Share	-	249.92M	-	-	-	-	-
NGHC Quota Share Growth	-	-	-	-	-	-	-
ACAC Quota Share	280.66M	-	-	-	-	-	-
ACAC Quota Share Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Maiden Holdings North America, Ltd. (MHNC) saw revenue decline by 2.9% over the past year.

Maiden Holdings North America, Ltd. (MHNC) reported a net loss of $152.3M for fiscal year 2024.

Dividend & Returns

Maiden Holdings North America, Ltd. (MHNC) has a return on equity (ROE) of -883.8%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Maiden Holdings North America, Ltd. (MHNC) has a combined ratio of 0.0%. A ratio below 100% indicates underwriting profitability.

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