Intrinsic value of James River Group Holdings - JRVR

Previous Close

$43.31

  Intrinsic Value

$701.53

stock screener

  Rating & Target

str. buy

+999%

Previous close

$43.31

 
Intrinsic value

$701.53

 
Up/down potential

+999%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as JRVR.

We calculate the intrinsic value of JRVR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  16.04
  49.60
  45.14
  41.13
  37.51
  34.26
  31.34
  28.70
  26.33
  24.20
  22.28
  20.55
  19.00
  17.60
  16.34
  15.20
  14.18
  13.26
  12.44
  11.69
  11.02
  10.42
  9.88
  9.39
  8.95
  8.56
  8.20
  7.88
  7.59
  7.33
  7.10
Revenue, $m
  0
  877
  1,272
  1,796
  2,469
  3,315
  4,354
  5,604
  7,080
  8,793
  10,752
  12,961
  15,423
  18,137
  21,100
  24,308
  27,756
  31,437
  35,348
  39,481
  43,834
  48,402
  53,185
  58,180
  63,388
  68,813
  74,457
  80,325
  86,425
  92,763
  99,350
Variable operating expenses, $m
 
  641
  922
  1,293
  1,771
  2,372
  3,109
  3,997
  5,044
  6,261
  7,651
  9,202
  10,950
  12,876
  14,980
  17,257
  19,705
  22,319
  25,095
  28,029
  31,120
  34,363
  37,758
  41,304
  45,002
  48,853
  52,860
  57,026
  61,357
  65,857
  70,533
Fixed operating expenses, $m
 
  68
  69
  71
  73
  75
  77
  78
  80
  82
  84
  87
  89
  91
  93
  96
  98
  100
  103
  106
  108
  111
  114
  116
  119
  122
  125
  129
  132
  135
  138
Total operating expenses, $m
  498
  709
  991
  1,364
  1,844
  2,447
  3,186
  4,075
  5,124
  6,343
  7,735
  9,289
  11,039
  12,967
  15,073
  17,353
  19,803
  22,419
  25,198
  28,135
  31,228
  34,474
  37,872
  41,420
  45,121
  48,975
  52,985
  57,155
  61,489
  65,992
  70,671
Operating income, $m
  88
  168
  282
  432
  625
  869
  1,168
  1,529
  1,955
  2,450
  3,016
  3,673
  4,385
  5,170
  6,027
  6,955
  7,953
  9,018
  10,150
  11,346
  12,606
  13,929
  15,313
  16,759
  18,267
  19,837
  21,471
  23,170
  24,936
  26,772
  28,679
EBITDA, $m
  190
  198
  317
  474
  676
  931
  1,245
  1,622
  2,068
  2,586
  3,178
  3,847
  4,592
  5,413
  6,310
  7,281
  8,325
  9,439
  10,624
  11,875
  13,194
  14,577
  16,026
  17,539
  19,116
  20,759
  22,469
  24,247
  26,095
  28,015
  30,010
Interest expense (income), $m
  8
  8
  42
  89
  151
  231
  331
  454
  602
  777
  980
  1,212
  1,474
  1,765
  2,087
  2,438
  2,818
  3,226
  3,662
  4,125
  4,615
  5,130
  5,671
  6,238
  6,829
  7,446
  8,089
  8,757
  9,452
  10,175
  10,925
Earnings before tax, $m
  79
  160
  239
  342
  474
  638
  837
  1,075
  1,353
  1,673
  2,036
  2,461
  2,911
  3,405
  3,940
  4,517
  5,135
  5,792
  6,488
  7,221
  7,991
  8,798
  9,642
  10,521
  11,438
  12,391
  13,383
  14,413
  15,484
  16,597
  17,753
Tax expense, $m
  5
  43
  65
  92
  128
  172
  226
  290
  365
  452
  550
  664
  786
  919
  1,064
  1,220
  1,386
  1,564
  1,752
  1,950
  2,158
  2,376
  2,603
  2,841
  3,088
  3,346
  3,613
  3,892
  4,181
  4,481
  4,793
Net income, $m
  74
  117
  175
  250
  346
  466
  611
  784
  987
  1,221
  1,486
  1,796
  2,125
  2,485
  2,876
  3,298
  3,749
  4,228
  4,736
  5,271
  5,834
  6,423
  7,038
  7,681
  8,349
  9,045
  9,769
  10,522
  11,303
  12,116
  12,960

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,347
  3,507
  5,090
  7,183
  9,877
  13,261
  17,417
  22,416
  28,318
  35,171
  43,006
  51,845
  61,693
  72,549
  84,401
  97,233
  111,023
  125,749
  141,390
  157,925
  175,336
  193,610
  212,738
  232,719
  253,554
  275,252
  297,828
  321,301
  345,699
  371,053
  397,401
Adjusted assets (=assets-cash), $m
  2,347
  3,507
  5,090
  7,183
  9,877
  13,261
  17,417
  22,416
  28,318
  35,171
  43,006
  51,845
  61,693
  72,549
  84,401
  97,233
  111,023
  125,749
  141,390
  157,925
  175,336
  193,610
  212,738
  232,719
  253,554
  275,252
  297,828
  321,301
  345,699
  371,053
  397,401
Revenue / Adjusted assets
  0.000
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
  0.250
Average production assets, $m
  40
  59
  85
  120
  165
  222
  292
  375
  474
  589
  720
  868
  1,033
  1,215
  1,414
  1,629
  1,860
  2,106
  2,368
  2,645
  2,937
  3,243
  3,563
  3,898
  4,247
  4,610
  4,989
  5,382
  5,790
  6,215
  6,656
Working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total debt, $m
  192
  1,010
  2,126
  3,602
  5,501
  7,887
  10,817
  14,341
  18,502
  23,333
  28,858
  35,089
  42,032
  49,685
  58,041
  67,087
  76,809
  87,191
  98,218
  109,875
  122,150
  135,033
  148,519
  162,605
  177,294
  192,591
  208,507
  225,055
  242,256
  260,131
  278,706
Total liabilities, $m
  1,653
  2,472
  3,588
  5,064
  6,963
  9,349
  12,279
  15,803
  19,964
  24,795
  30,320
  36,551
  43,494
  51,147
  59,503
  68,549
  78,271
  88,653
  99,680
  111,337
  123,612
  136,495
  149,981
  164,067
  178,756
  194,053
  209,969
  226,517
  243,718
  261,593
  280,168
Total equity, $m
  693
  1,034
  1,501
  2,119
  2,914
  3,912
  5,138
  6,613
  8,354
  10,375
  12,687
  15,294
  18,199
  21,402
  24,898
  28,684
  32,752
  37,096
  41,710
  46,588
  51,724
  57,115
  62,758
  68,652
  74,798
  81,199
  87,859
  94,784
  101,981
  109,461
  117,233
Total liabilities and equity, $m
  2,346
  3,506
  5,089
  7,183
  9,877
  13,261
  17,417
  22,416
  28,318
  35,170
  43,007
  51,845
  61,693
  72,549
  84,401
  97,233
  111,023
  125,749
  141,390
  157,925
  175,336
  193,610
  212,739
  232,719
  253,554
  275,252
  297,828
  321,301
  345,699
  371,054
  397,401
Debt-to-equity ratio
  0.277
  0.980
  1.420
  1.700
  1.890
  2.020
  2.110
  2.170
  2.210
  2.250
  2.270
  2.290
  2.310
  2.320
  2.330
  2.340
  2.350
  2.350
  2.350
  2.360
  2.360
  2.360
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.380
  2.380
  2.380
Adjusted equity ratio
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  74
  117
  175
  250
  346
  466
  611
  784
  987
  1,221
  1,486
  1,796
  2,125
  2,485
  2,876
  3,298
  3,749
  4,228
  4,736
  5,271
  5,834
  6,423
  7,038
  7,681
  8,349
  9,045
  9,769
  10,522
  11,303
  12,116
  12,960
Depreciation, amort., depletion, $m
  102
  30
  35
  42
  51
  63
  77
  93
  113
  136
  162
  174
  207
  243
  283
  326
  372
  421
  474
  529
  587
  649
  713
  780
  849
  922
  998
  1,076
  1,158
  1,243
  1,331
Funds from operations, $m
  118
  147
  210
  292
  397
  528
  688
  878
  1,100
  1,357
  1,648
  1,970
  2,332
  2,728
  3,159
  3,623
  4,121
  4,650
  5,210
  5,800
  6,421
  7,071
  7,751
  8,460
  9,199
  9,968
  10,767
  11,598
  12,461
  13,359
  14,291
Change in working capital, $m
  -33
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  151
  147
  210
  292
  397
  528
  688
  878
  1,100
  1,357
  1,648
  1,970
  2,332
  2,728
  3,159
  3,623
  4,121
  4,650
  5,210
  5,800
  6,421
  7,071
  7,751
  8,460
  9,199
  9,968
  10,767
  11,598
  12,461
  13,359
  14,291
Maintenance CAPEX, $m
  0
  -8
  -12
  -17
  -24
  -33
  -44
  -58
  -75
  -95
  -118
  -144
  -174
  -207
  -243
  -283
  -326
  -372
  -421
  -474
  -529
  -587
  -649
  -713
  -780
  -849
  -922
  -998
  -1,076
  -1,158
  -1,243
New CAPEX, $m
  0
  -19
  -27
  -35
  -45
  -57
  -70
  -84
  -99
  -115
  -131
  -148
  -165
  -182
  -199
  -215
  -231
  -247
  -262
  -277
  -292
  -306
  -320
  -335
  -349
  -363
  -378
  -393
  -409
  -425
  -441
Cash from investing activities, $m
  -81
  -27
  -39
  -52
  -69
  -90
  -114
  -142
  -174
  -210
  -249
  -292
  -339
  -389
  -442
  -498
  -557
  -619
  -683
  -751
  -821
  -893
  -969
  -1,048
  -1,129
  -1,212
  -1,300
  -1,391
  -1,485
  -1,583
  -1,684
Free cash flow, $m
  70
  120
  172
  240
  328
  438
  573
  736
  926
  1,147
  1,399
  1,678
  1,993
  2,340
  2,718
  3,126
  3,564
  4,031
  4,527
  5,050
  5,600
  6,178
  6,782
  7,413
  8,070
  8,755
  9,467
  10,207
  10,976
  11,776
  12,607
Issuance/(repayment) of debt, $m
  -2
  818
  1,116
  1,476
  1,900
  2,386
  2,930
  3,524
  4,161
  4,831
  5,524
  6,231
  6,943
  7,653
  8,356
  9,046
  9,722
  10,382
  11,027
  11,657
  12,275
  12,883
  13,486
  14,086
  14,689
  15,297
  15,916
  16,549
  17,201
  17,875
  18,575
Issuance/(repurchase) of shares, $m
  -3
  224
  292
  368
  449
  533
  615
  690
  754
  800
  825
  811
  780
  717
  620
  488
  319
  116
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -1
  1,042
  1,408
  1,844
  2,349
  2,919
  3,545
  4,214
  4,915
  5,631
  6,349
  7,042
  7,723
  8,370
  8,976
  9,534
  10,041
  10,498
  11,027
  11,657
  12,275
  12,883
  13,486
  14,086
  14,689
  15,297
  15,916
  16,549
  17,201
  17,875
  18,575
Total cash flow (excl. dividends), $m
  69
  1,162
  1,580
  2,083
  2,677
  3,357
  4,118
  4,950
  5,842
  6,779
  7,749
  8,720
  9,716
  10,710
  11,693
  12,660
  13,605
  14,529
  15,553
  16,707
  17,875
  19,061
  20,268
  21,499
  22,759
  24,052
  25,383
  26,756
  28,177
  29,651
  31,182
Retained Cash Flow (-), $m
  -12
  -341
  -467
  -617
  -795
  -998
  -1,226
  -1,475
  -1,741
  -2,022
  -2,312
  -2,607
  -2,905
  -3,202
  -3,496
  -3,785
  -4,068
  -4,344
  -4,614
  -4,878
  -5,136
  -5,391
  -5,643
  -5,894
  -6,146
  -6,401
  -6,660
  -6,925
  -7,197
  -7,479
  -7,772
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  821
  1,113
  1,466
  1,882
  2,359
  2,892
  3,475
  4,100
  4,757
  5,437
  6,113
  6,811
  7,508
  8,197
  8,874
  9,537
  10,185
  10,939
  11,829
  12,739
  13,670
  14,625
  15,605
  16,613
  17,651
  18,723
  19,831
  20,980
  22,171
  23,409
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  787
  1,019
  1,276
  1,549
  1,828
  2,099
  2,348
  2,563
  2,733
  2,851
  2,903
  2,907
  2,855
  2,752
  2,605
  2,424
  2,216
  2,015
  1,821
  1,619
  1,414
  1,213
  1,023
  846
  687
  546
  426
  325
  242
  176
Current shareholders' claim on cash, %
  100
  85.1
  73.8
  65.2
  58.4
  53.2
  49.0
  45.7
  43.0
  40.9
  39.2
  37.9
  36.9
  36.1
  35.6
  35.2
  35.0
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9
  34.9

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products. The Specialty Admitted Insurance segment offers workers' compensation insurance coverage, as well as specialty admitted fronting and program business. The Casualty Reinsurance segment offers commercial liability and non-catastrophe property reinsurance to the United States insurance companies and to its the United States-based insurance subsidiaries. The Corporate and Other segment consists of certain management and treasury activities of James River Group, Inc., James River Group Holdings UK Limited and JRG Holdings. It owns six insurance companies focused on specialty insurance niches and a reinsurance company.

FINANCIAL RATIOS  of  James River Group Holdings (JRVR)

Valuation Ratios
P/E Ratio 17.1
Price to Sales 2.2
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 8.4
Price to Free Cash Flow 8.4
Growth Rates
Sales Growth Rate 16%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 27.7%
Total Debt to Equity 27.7%
Interest Coverage 11
Management Effectiveness
Return On Assets 3.7%
Ret/ On Assets - 3 Yr. Avg. 3.2%
Return On Total Capital 8.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.6%
Return On Equity 10.8%
Return On Equity - 3 Yr. Avg. 8.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 32.3%
EBITDA Margin - 3 Yr. Avg. 32.1%
Operating Margin 15%
Oper. Margin - 3 Yr. Avg. 13.4%
Pre-Tax Margin 13.5%
Pre-Tax Margin - 3 Yr. Avg. 11.9%
Net Profit Margin 12.6%
Net Profit Margin - 3 Yr. Avg. 11.2%
Effective Tax Rate 6.3%
Eff/ Tax Rate - 3 Yr. Avg. 6.2%
Payout Ratio 89.2%

JRVR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JRVR stock intrinsic value calculation we used $586 million for the last fiscal year's total revenue generated by James River Group Holdings. The default revenue input number comes from 2016 income statement of James River Group Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JRVR stock valuation model: a) initial revenue growth rate of 49.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for JRVR is calculated based on our internal credit rating of James River Group Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of James River Group Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JRVR stock the variable cost ratio is equal to 74.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $66 million in the base year in the intrinsic value calculation for JRVR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.2% for James River Group Holdings.

Corporate tax rate of 27% is the nominal tax rate for James River Group Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JRVR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JRVR are equal to 6.7%.

Life of production assets of 2.2 years is the average useful life of capital assets used in James River Group Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JRVR is equal to 0%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $693 million for James River Group Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.554 million for James River Group Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of James River Group Holdings at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
WRB W.R. Berkley 70.13 148.44  str.buy
ACGL Arch Capital G 102.15 395.10  str.buy
AGII Argo Group Int 63.80 282.90  str.buy
AXS AXIS Capital H 57.04 140.45  str.buy
SNC State National 21.05 190.97  str.buy
MKL Markel 1,078.23 1,037.39  hold

COMPANY NEWS

▶ James River Announces Initial Estimate of Hurricane Losses   [Oct-16-17 08:00AM  GlobeNewswire]
▶ James River Group posts 2Q profit   [Aug-01-17 11:48PM  Associated Press]
▶ James River Group Holdings Announces Secondary Offering   [May-30-17 04:10PM  GlobeNewswire]
▶ James River Group posts 1Q profit   [05:03AM  Associated Press]
▶ Hedge Funds Are Betting On James River Group Holdings Ltd (JRVR)   [Dec-12-16 05:00PM  at Insider Monkey]
▶ [$$] Block Trades Build Steam as IPOs Stall   [07:59AM  at The Wall Street Journal]
▶ James River Group Holdings Announces Secondary Offering   [Nov-21-16 04:10PM  GlobeNewswire]
Financial statements of JRVR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.