Greenlight Capital Re Ltd (GLRE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Greenlight Capital Re Ltd stock $20.98, price $16.08, upside +30.5%, quality 67 out of 100. Rating: undervalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $6.56 – $19.00 · fair‑value band $18.86 – $26.88 · the $16.08 price screens below the $20.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. It operates through Open Market and Innovations segments. The company offers casualty reinsurance, such as automobile liability and general liability.
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It also provides coverages for casualty, including general liability, umbrella, multiline casualty, and workers' compensation; financial, such as mortgage, trade credit, surety, transactional liability, and financial multiline; health, which include primarily accident and critical illness; multiline comprising FAL business, coupled with multiline commercial and personal auto liability, BOP, and multiline commercial; property, including commercial property and property catastrophe; and specialty products and services, such as agriculture, cyber, marine and energy, aviation and space, specialty multiline, and WPVT which covers losses relating to war, political violence, and terrorism.
The company markets its products through reinsurance brokers. Greenlight Capital Re, Ltd. was incorporated in 2004 and is headquartered in Grand Cayman, the Cayman Islands.
Stock analysis
Greenlight Capital Re Ltd (GLRE) currently trades at $16.08, while our model-based Fair Value estimate is $20.98, implying the stock looks roughly 23% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $27.94 per share, and 3 of the 4 models we run sit above the $16.08 price.
Bear case: the Asset-Based group reads lowest at $12.48, and 1 of the 4 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $18.86 (bear) to $26.88 (bull), the price of $16.08 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Greenlight Capital Re Ltd reported revenue of $696M in FY2025 versus $570M in FY2021, a compound +5.1%/yr. Reported net income was $74.8M in FY2025, compounding +43.6%/yr from FY2021.
Key figures
Market cap $532M Small · P/E ratio 10.9 · P/S ratio 0.77 · EPS (TTM) $1.48 · Net margin 7.4% · Return on equity 7.5% · Return on assets (EBIT) 2.8% (5-year average) · Operating margin −20.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 28% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 7% fair-value upside, at 30%, GLRE screens cheaper than that median.
Fair Value models
Bear$18.86Fair Value $20.98Bull$26.88
Price $16.08 · Upside +30.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $186,240, on Aug 10, 2026. Over the same period, 6 people sold shares worth $2.5M.
SaleRichard Paul StrommerChief Actuary2× since Mar 9, 2026: 27,786 shares, avg. $14.76$410,043Nov 5, 2026
SaleIan IsaacsDirector6× since Jun 22, 2026: 46,137 shares, avg. $15.65$722,123Sep 28, 2026
SaleSherry DiazController2× since Mar 9, 2026: 14,487 shares, avg. $14.05$203,580Sep 17, 2026
BuyLeonard R GoldbergDirector12,000 shares at $15.52$186,240Aug 10, 2026
SalePatrick O'BrienChief Operating Officer3,026 shares at $16.36$49,505Jun 23, 2026
SaleJoseph P Platt JRDirector4× since May 12, 2026: 55,000 shares, avg. $17.58$967,142May 26, 2026
SaleDavid SigmonGeneral Counsel7,500 shares at $17.33$129,975May 14, 2026
SaleBrian Joseph OReillyHead of Innovations2,195 shares at ?Mar 9, 2026
SaleThomas James CurnockGrp Chief Underwriting Officer6,552 shares at ?Mar 9, 2026
SaleFaramarz RomerChief Financial Officer2,689 shares at ?Mar 9, 2026
Plus 2 more entries from the last 12 months.
Plus 11 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Start year 2020 (pandemic)
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+43.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+43.2%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.47.6% vs 0.6%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−29.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −31.5% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Reinsurance · 22 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+30.5% · Above median
Profitability
Return on equity (12 months)7.5% · Bottom 25%
Return on assets3.5% · Above median
Net margin (12 months)7.4% · Bottom 25%
Operating margin (12 months)−20.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−10.3% · Bottom 25%
Balance sheet
Debt / equity0.09× · Lowest 25%
Valuation Multiplesvs Insurance - Reinsurance median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Greenlight Capital Re Ltd Fair Value". https://www.fairvalue-calculator.com/stock/GLRE
Frequently asked questions
Is Greenlight Capital Re Ltd (GLRE) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $20.98 versus a price of $16.08, about +30% upside (undervalued).
What is the fair value of GLRE?
Our model-based fair value for Greenlight Capital Re Ltd is $20.98 (as of Nov 3, 2026), built from audited fundamentals. The current price: $16.08.
What is the quality score of GLRE?
Greenlight Capital Re Ltd has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Greenlight Capital Re Ltd (GLRE)?
Our model-based price target is the fair value of $20.98 (as of Nov 3, 2026) from 4 valuation models. Cautious scenario $18.86, optimistic scenario $26.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Greenlight Capital Re Ltd stock forecast for 2026?
Our models put fair value at $20.98, about +30% upside versus a price of $16.08 (undervalued). Cautious scenario $18.86, optimistic scenario $26.88. The calculation is refreshed regularly with new filings.
What is the revenue of Greenlight Capital Re Ltd (GLRE)?
Greenlight Capital Re Ltd reported trailing-twelve-month revenue of about $691M (latest available figure, as of Nov 3, 2026).
Does Greenlight Capital Re Ltd pay a dividend?
Greenlight Capital Re Ltd does not currently pay a dividend.
What growth is priced into Greenlight Capital Re Ltd (GLRE)?
For today's price to be fair in a discounted-cash-flow model, Greenlight Capital Re Ltd would have to grow free cash flow by -29.8 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of GLRE use?
Our models discount Greenlight Capital Re Ltd at 9.8 %: a base by market capitalisation (small), damped by beta 0.27, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Greenlight Capital Re Ltd that is -29.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Greenlight Capital Re Ltd (GLRE) delivered so far?
Over the past 5 years revenue at Greenlight Capital Re Ltd grew +7.8 % a year. The price currently implies free-cash-flow growth of -29.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Greenlight Capital Re Ltd (GLRE) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Greenlight Capital Re Ltd (-29.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Greenlight Capital Re Ltd (GLRE)?
The free-cash-flow yield on the price is 39.48 %: that much free cash flow Greenlight Capital Re Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Greenlight Capital Re Ltd (GLRE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Greenlight Capital Re Ltd it is $20.98 per share (as of Nov 3, 2026), against a price of $16.08. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Greenlight Capital Re Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, GLRE trades below its calculated fair value: price $16.08, fair value $20.98, a gap of about +30% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GLRE?
No. The price is what the market pays today ($16.08); the fair value is what the company's own numbers justify ($20.98). For Greenlight Capital Re Ltd the two are $4.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is Greenlight Capital Re Ltd worth?
The market values Greenlight Capital Re Ltd at about $532M (market capitalisation, as of Nov 3, 2026). Per share that is $16.08; our models calculate a fair value of $20.98 per share.
What do the bullish and bearish scenarios say about GLRE?
Our models span a range for Greenlight Capital Re Ltd: cautious scenario $18.86, base $20.98, optimistic $26.88 per share (as of Nov 3, 2026, price $16.08). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLRE?
Greenlight Capital Re Ltd trades at a price-to-earnings ratio of 10.9 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $20.98 is built from several models across several years. Other multiples: PEG 1.7, P/B 0.8, P/S 0.8, EV/EBITDA 6.4.
What is the PEG ratio of GLRE?
The PEG ratio of Greenlight Capital Re Ltd is 1.68 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Greenlight Capital Re Ltd (GLRE)?
Balance-sheet figures for Greenlight Capital Re Ltd (as of Nov 3, 2026): return on equity 7.5%, debt of 0.09 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is GLRE from its 52-week high?
Greenlight Capital Re Ltd trades at $16.08, about 15% below its 52-week high of $19.00 and 28% above the low of $12.60 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $20.98 is for.
Which stocks are comparable to Greenlight Capital Re Ltd?
From the same area (Financial Services) we also value MUV2, Swiss Re AG, Hannover Rück SE, Reinsurance Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Greenlight Capital Re Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price $16.08, calculated fair value $20.98 (+30%), Quality Score 67/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GLRE calculated?
We run Greenlight Capital Re Ltd through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $20.98 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Greenlight Capital Re Ltd currently trades 23% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Greenlight Capital Re Ltd (GLRE)?
The closing price on Nov 6, 2026 was $16.08. Our model-based fair value is $20.98, about +30% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Greenlight Capital Re Ltd right now?
The price is below even our cautious bear case ($18.86). The market is more pessimistic than our downside scenario. Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Greenlight Capital Re Ltd (GLRE) come from?
Earnings per share at Greenlight Capital Re Ltd grew −0.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.3 %, EBIT margin −3.8 %, tax rate −0.2 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Greenlight Capital Re Ltd
How large is the market capitalisation of Greenlight Capital Re Ltd (GLRE)?
The market capitalisation of Greenlight Capital Re Ltd is $532M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Greenlight Capital Re Ltd (GLRE)?
The price-to-sales ratio of Greenlight Capital Re Ltd is 0.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Greenlight Capital Re Ltd (GLRE)?
Earnings per share at Greenlight Capital Re Ltd are $1.48 (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Greenlight Capital Re Ltd (GLRE)?
The net margin of Greenlight Capital Re Ltd is 7.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Greenlight Capital Re Ltd (GLRE)?
The return on equity (ROE) of Greenlight Capital Re Ltd is 7.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Greenlight Capital Re Ltd (GLRE)?
On an EBIT basis the return on assets of Greenlight Capital Re Ltd is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Greenlight Capital Re Ltd (GLRE)?
The operating margin of Greenlight Capital Re Ltd is −20.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Greenlight Capital Re Ltd (GLRE)?
Revenue at Greenlight Capital Re Ltd is growing −10.3% versus a year earlier (3y avg +13.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Greenlight Capital Re Ltd (GLRE)?
Earnings per share at Greenlight Capital Re Ltd are growing +22.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Greenlight Capital Re Ltd (GLRE) hold?
Greenlight Capital Re Ltd holds more cash than debt, $107M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 3, 2026