Greenlight Capital Re Ltd. Class A Ordinary Shares (GLRE)

FairStock Score: 82/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Greenlight Capital Re is a small property-and-casualty reinsurer with 84 employees, writing casualty, financial, and specialty coverages. Reinsurance is a risk business with few durable moats unless underwriting discipline is exceptional. The filed record is mixed. In FY2023 net income was $86.8M and diluted EPS $2.50; FY2024 fell to $42.8M and $1.24; FY2025 recovered to $74.8M and $2.17. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $189.7M and net income was $35.8M, or $1.05 per diluted share. Then fiscal Q2 2026, the quarter ended 2026-06-30, showed revenue of $137.5M and a net loss of $29.6M, or -$0.89 per share. That single swing is the crux: one bad quarter can erase much of a year's profit. At the 2026-10-13 close, FairStock calculates a P/E of 10.03, P/B of 0.70, ROE of 7.50%, ROCE of 1.78%, and D/E of 0.02. Low debt is good, but a 7.5% ROE is modest, and its Piotroski F-score of 4/9 is weak. FairStock labels it a Stalwart because of five-year profit growth of 80.9% a year and revenue growth of 8.6%, but that label is backward-looking. The market is pricing it below book, which may be an opportunity or a warning about underwriting and reserve risk. The data do not provide combined ratio, CET1, or NIM, so I cannot fully judge underwriting quality or capital adequacy. I would want consistent positive underwriting before trusting the discount.

In plain English: Greenlight Capital Re is a small reinsurance company that takes on insurance risk from other insurers. Its results have been uneven: it earned money in the full years from 2023 through 2025, but it lost money in the most recent reported quarter. The shares look inexpensive compared with the company's stated net worth and past profits, but the uneven results mean the low price may reflect real business risk.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer