PREJFOTCAccident & Health InsuranceFiscal year ends December 31
PARTNERRE LTD
Financials through fiscal 2023, year ended Dec 31, 2023Last filing: 20-F on Mar 25, 2024
$15.35−0.15 (-0.97%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2009 to 2023
Gross margin
15.0%+13.5 pts over 5 years
Net margin
25.4%+26.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2023
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +59.3% | +7.4% | +10.3% | +5.1% | |
| Gross profit | +37.4% | – | +75.1% | +3.6% | |
| Net income | – | +108.9% | – | +13.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2014 | FY2018 | FY2023 | Trend |
|---|---|---|---|---|
| Return on equity | 15.3% | -1.3% | 31.3% | |
| Return on assets | 4.7% | -0.4% | 8.0% | |
| Diluted shares | 51M | – | – |
Cash use needs five years of cash flow figures
Partnerre does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin25.4%
×Asset turnover0.32×
×Equity multiplier3.90×
=Return on equity, FY202331.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 25.4% | 0.32× | 3.90× | 31.3% |
| FY2022 | -16.4% | 0.21× | 4.03× | -13.7% |
| FY2021 | 10.3% | 0.27× | 3.83× | 10.6% |
| FY2020 | 3.5% | 0.28× | 3.64× | 3.6% |
| FY2019 | 11.9% | 0.33× | 3.47× | 13.6% |
| FY2018 | -1.5% | 0.24× | 3.45× | -1.3% |
| FY2017 | 4.7% | 0.25× | 3.34× | 3.9% |
| FY2016 | 8.2% | 0.25× | 3.19× | 6.6% |
| FY2015 | 1.9% | 0.25× | 3.13× | 1.5% |
| FY2014 | 16.3% | 0.29× | 3.29× | 15.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2023 against fiscal 2022
4of 6 tests passed in fiscal 2023. Some tests lack the figures they need.
- ProfitableNet income above zero$2.32B
- Cash generatingOperating cash flow above zero$2.24B
- Return on assets improvedROA up on the prior year-3.4% → 8.5%
- Earnings backed by cashOperating cash flow above net income$2.24B vs $2.32B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year17.36% → 14.97%
- More efficientAsset turnover rose0.20 → 0.33