Greenlight Capital Re Ltd Financials

GLRE

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Greenlight Capital Re Ltd (GLRE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

5/9

Greenlight Capital Re Ltd passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.60x

For every $1 of reported earnings, Greenlight Capital Re Ltd generates $2.60 in operating cash flow ($111.5M OCF vs $42.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$696.0M

YoY+4.3%

5Y CAGR+5.3%

10Y CAGR+3.8%

Greenlight Capital Re Ltd generated $696.0M in revenue in fiscal year 2024. This represents an increase of 4.3% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$42.8M

YoY-50.7%

10Y CAGR-9.0%

Greenlight Capital Re Ltd reported $42.8M in net income in fiscal year 2024. This represents a decrease of 50.7% from the prior year.

EPS (Diluted)

$1.24

YoY-50.4%

10Y CAGR-8.1%

Greenlight Capital Re Ltd earned $1.24 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 50.4% from the prior year.

Cash & Debt

$64.7M

YoY+26.6%

5Y CAGR+20.2%

10Y CAGR+18.3%

Greenlight Capital Re Ltd held $64.7M in cash against $60.7M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

35M

YoY-1.4%

Greenlight Capital Re Ltd had 35M shares outstanding in fiscal year 2024. This represents a decrease of 1.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

6.2%

YoY-6.9pp

5Y CAGR+6.9pp

10Y CAGR-16.7pp

Greenlight Capital Re Ltd's net profit margin was 6.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.9 percentage points from the prior year.

Return on Equity

6.7%

YoY-7.8pp

10Y CAGR-2.7pp

Greenlight Capital Re Ltd's ROE was 6.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 7.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$7.5M

Greenlight Capital Re Ltd spent $7.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

GLRE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$696.0M+4.3%	$667.1M+26.7%	$526.7M-10.5%	$588.6M+21.6%	$484.1M-10.0%	$538.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$43.2M+36.8%	$31.6M+7.6%	$29.4M+11.2%	$26.4M-11.5%	$29.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	-$6.7M+42.4%	-$11.7M-285.6%	$6.3M+0.3%	$6.3M
Income Tax	$749K+649.0%	$100K+112.3%	-$816K-121.8%	$3.7M+783.5%	$424K-12.2%	$483K
Net Income	$42.8M-50.7%	$86.8M+242.6%	$25.3M+44.2%	$17.6M+354.7%	$3.9M+197.0%	-$4.0M
EPS (Diluted)	$1.24-50.4%	$2.50+242.5%	$0.73+43.1%	$0.51+363.6%	$0.11+200.0%	$-0.11

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$146.1M-8.8%	$160.1M-24.9%	$213.3M+50.4%	$141.8M-18.9%	$174.9M-8.6%	$191.3M+23.0%	$155.5M-6.9%	$166.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	$10.3M-1.8%	$10.5M-1.8%	$10.7M-30.3%	$15.4M+94.5%	$7.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$278K
Income Tax	$526K+52.0%	$346K-73.0%	$1.3M+238.1%	-$928K-313.3%	$435K-16.2%	$519K+4818.2%	-$11K-137.9%	$29K
Net Income	-$4.4M-1438.9%	$329K-98.9%	$29.6M+208.1%	-$27.4M-443.7%	$8.0M-70.5%	$27.0M+53.5%	$17.6M+30.6%	$13.5M
EPS (Diluted)	$-0.13-1400.0%	$0.01-98.8%	$0.86+210.3%	$-0.78-439.1%	$0.23-70.5%	$0.78+25.8%	$0.62+59.0%	$0.39

GLRE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.0B+16.2%	$1.7B+9.8%	$1.6B+10.7%	$1.4B+5.1%	$1.4B+0.2%	$1.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$64.7M+26.6%	$51.1M+33.6%	$38.2M-49.9%	$76.3M+754.0%	$8.9M-65.4%	$25.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.4B+21.2%	$1.1B+5.8%	$1.1B+13.2%	$951.8M+6.6%	$892.8M+1.7%	$878.0M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$60.7M-17.1%	$73.3M-9.0%	$80.5M	N/A	N/A	N/A
Total Equity	$635.9M+6.7%	$596.1M+18.5%	$503.1M+5.8%	$475.7M+2.3%	$464.9M-2.6%	$477.2M
Retained Earnings	$150.8M+39.6%	$108.0M+409.6%	$21.2M+323.0%	-$9.5M+64.9%	-$27.1M+9.9%	-$30.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.1B-2.5%	$2.2B+1.7%	$2.2B+6.7%	$2.0B+6.1%	$1.9B+1.2%	$1.9B+8.2%	$1.7B-0.2%	$1.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$68.8M-16.5%	$82.4M+73.5%	$47.5M-26.6%	$64.7M+23.8%	$52.2M-15.2%	$61.6M+20.6%	$51.1M+23.7%	$41.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.5B-3.2%	$1.5B+2.7%	$1.5B+7.6%	$1.4B+9.0%	$1.3B+1.1%	$1.3B+9.9%	$1.1B-2.1%	$1.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$34.7M-41.0%	$58.9M-1.6%	$59.8M-1.5%	$60.7M-1.4%	$61.6M-15.0%	$72.5M-1.1%	$73.3M-2.1%	$74.9M
Total Equity	$658.9M-0.7%	$663.3M-0.5%	$666.8M+4.9%	$635.9M+0.3%	$634.0M+1.5%	$624.5M+4.8%	$596.1M+3.5%	$575.9M
Retained Earnings	$176.4M-2.4%	$180.8M+0.2%	$180.5M+19.6%	$150.8M+5.5%	$143.0M+5.9%	$135.0M+25.0%	$108.0M+19.5%	$90.4M

GLRE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$111.5M+1385.3%	$7.5M+123.6%	-$31.8M+43.5%	-$56.3M+38.4%	-$91.3M-5699.2%	$1.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$96.6M-81.7%	-$53.1M-213.0%	$47.0M+103.6%	$23.1M-75.9%	$95.6M+51.0%	$63.3M
Financing Cash Flow	-$21.2M-301.4%	-$5.3M+73.3%	-$19.8M-98.3%	-$10.0M+43.8%	-$17.8M	$0
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$7.5M	$0-100.0%	$35K-99.7%	$10.0M-43.8%	$17.8M	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$31.2M-54.4%	$68.4M+559.4%	$10.4M-64.9%	$29.5M+30.1%	$22.7M+26.4%	$18.0M-18.9%	$22.1M+245.7%	-$15.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$9.3M+80.2%	-$46.9M-193.4%	-$16.0M-2523.5%	$660K+101.6%	-$40.4M-35.5%	-$29.8M+2.5%	-$30.6M-97.3%	-$15.5M
Financing Cash Flow	-$25.4M-328.5%	-$5.9M-532.9%	-$938K+50.0%	-$1.9M+82.8%	-$10.9M-1066.1%	-$938K	$0-100.0%	$11.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$2.0M	N/A	N/A	$12K	N/A	N/A	$0	N/A

GLRE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	6.2%-6.9pp	13.0%+8.2pp	4.8%+1.8pp	3.0%+2.2pp	0.8%+1.5pp	-0.7%
Return on Equity	6.7%-7.8pp	14.6%+9.5pp	5.0%+1.3pp	3.7%+2.9pp	0.8%	N/A
Return on Assets	2.1%-2.9pp	5.0%+3.4pp	1.6%+0.4pp	1.2%+0.9pp	0.3%+0.6pp	-0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.10-0.0	0.12-0.0	0.16-1.8	2.00+0.1	1.92+0.1	1.84
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-3.0%-3.2pp	0.2%-13.7pp	13.9%+33.2pp	-19.3%-23.9pp	4.6%-9.6pp	14.1%+2.8pp	11.3%+3.3pp	8.1%
Return on Equity	N/A	0.1%-4.4pp	4.4%-0.9pp	5.3%+4.0pp	1.3%-3.1pp	4.3%+1.4pp	2.9%+0.6pp	2.3%
Return on Assets	-0.2%-0.2pp	0.0%-1.4pp	1.4%+2.7pp	-1.4%-1.8pp	0.4%-1.0pp	1.4%+0.4pp	1.0%+0.2pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.05-0.0	0.090.0	0.090.0	0.100.0	0.10-0.0	0.120.0	0.120.0	0.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Greenlight Capital Re Ltd's annual revenue?

Greenlight Capital Re Ltd (GLRE) reported $696.0M in total revenue for fiscal year 2024. This represents a 4.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Greenlight Capital Re Ltd's revenue growing?

Greenlight Capital Re Ltd (GLRE) revenue grew by 4.3% year-over-year, from $667.1M to $696.0M in fiscal year 2024.

Is Greenlight Capital Re Ltd profitable?

Yes, Greenlight Capital Re Ltd (GLRE) reported a net income of $42.8M in fiscal year 2024, with a net profit margin of 6.2%.

What is Greenlight Capital Re Ltd's earnings per share (EPS)?

Greenlight Capital Re Ltd (GLRE) reported diluted earnings per share of $1.24 for fiscal year 2024. This represents a -50.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Greenlight Capital Re Ltd have?

As of fiscal year 2024, Greenlight Capital Re Ltd (GLRE) had $64.7M in cash and equivalents against $60.7M in long-term debt.

What is Greenlight Capital Re Ltd's net profit margin?

Greenlight Capital Re Ltd (GLRE) had a net profit margin of 6.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Greenlight Capital Re Ltd's return on equity (ROE)?

Greenlight Capital Re Ltd (GLRE) has a return on equity of 6.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Greenlight Capital Re Ltd's operating cash flow?

Greenlight Capital Re Ltd (GLRE) generated $111.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Greenlight Capital Re Ltd's total assets?

Greenlight Capital Re Ltd (GLRE) had $2.0B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Greenlight Capital Re Ltd buy back shares?

Yes, Greenlight Capital Re Ltd (GLRE) spent $7.5M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Greenlight Capital Re Ltd have outstanding?

Greenlight Capital Re Ltd (GLRE) had 35M shares outstanding as of fiscal year 2024.

What is Greenlight Capital Re Ltd's debt-to-equity ratio?

Greenlight Capital Re Ltd (GLRE) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Greenlight Capital Re Ltd's return on assets (ROA)?

Greenlight Capital Re Ltd (GLRE) had a return on assets of 2.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Greenlight Capital Re Ltd's Piotroski F-Score?

Greenlight Capital Re Ltd (GLRE) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Greenlight Capital Re Ltd's earnings high quality?

Greenlight Capital Re Ltd (GLRE) has an earnings quality ratio of 2.60x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.