Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Maiden Holdings, Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
2,573
2,052
2,139
2,165
576
184
98.7
58.1
89.2
56.4
General and administrative
64.9
50.3
53
64.9
47.2
39.1
36
30.9
30.8
35.3
Operating expenses
38.3
18.4
19
21.2
11.8
9.49
10.3
11.6
12.8
12.2
Interest expense
29.1
28.2
23.3
19.3
19.3
19.3
19.3
19.3
Interest income
137
116
132
141
114
57.6
34.4
30.5
37.9
27.9
Pre-tax income
126
79.5
-154
-450
-110
41.7
26.7
-60.6
-38.4
-200
Income tax
2.04
0.41
-6.76
0.44
-0.91
-0.1
0.02
-0.56
0.2
1.06
Income from continuing operations
79.9
-148
-451
-109
Net income to minority interests
-0.19
-0.84
0.15
0.22
0
Net income
124
49
-170
-545
-132
41.8
26.6
-60
-38.6
-201
EPS, basic
1.36
0.20
-2.32
-6.87
-1.59
0.93
1.35
0.63
-0.38
-2.01
EPS, diluted
1.31
0.19
-2.32
-6.87
-1.59
0.93
1.35
0.63
-0.38
-2.01
Shares, basic (weighted)
73.5
77.5
85.7
83.1
83.1
84.3
86.1
87.1
101
99.9
Shares, diluted (weighted)
85.6
78.7
85.7
83.1
83.1
84.3
86.1
87.1
101
99.9
Dividend per share
0.53
0.57
0.60
0.35
Balance sheet
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
89.6
41.3
54.5
201
48.2
74
26.7
31
35.4
25.7
Short-term investments
0
0
0
0
0
0
0
0
0
0
Property, plant and equipment
0.69
0.77
Lease right-of-use assets
2.34
1.64
0.47
0.3
0.23
1.35
Goodwill
58.9
57.2
57.2
0
Intangible assets
23
20.5
18.4
0
Total assets
5,704
6,252
6,644
5,287
3,568
2,948
2,323
1,847
1,519
1,316
Total liabilities
4,354
4,891
5,412
4,733
3,060
2,421
1,938
1,562
1,270
1,271
Total debt
350
351
254
255
255
255
255
256
255
255
Paid-in capital
579
749
748
749
751
756
769
884
886
888
Retained earnings
316
286
35.5
-564
-696
-616
-498
-443
-487
-688
Treasury stock
-4.52
-4.99
-30.6
-31.5
-31.5
-31.5
-34
-117
-120
-124
Other comprehensive income
-23.8
15
13.4
-65.6
17.8
23.9
-12.2
-41.2
-31.5
-32.7
Shareholders' equity
1,348
1,361
1,232
554
508
528
384
285
249
45.2
Minority interests
1.28
0.36
0.45
0.64
0
Total equity
1,349
1,361
1,233
555
508
528
384
285
249
45.2
Total liabilities and equity
5,704
6,252
6,644
5,287
3,568
2,948
2,323
1,847
1,519
1,316
Shares outstanding
73.7
86.3
83
82.9
83.1
84.8
86.5
102
100
99
Cash flow statement
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Net income
124
48.1
-170
-544
-132
41.8
26.6
-60
-38.6
-201
Depreciation and amortization
9.72
12.6
8.39
6.18
7.82
8.69
8.22
-0.11
0.27
0.23
Stock-based compensation
2.94
3.41
2.94
1.28
1.91
2.45
4.77
2.74
1.73
2
Deferred income tax
1.26
-0.08
-7.43
-0.06
-1.02
-0.26
-0.23
-0.08
0.34
1.23
Cash from operations
634
470
459
182
-1,143
-542
-394
-196
-59.8
-67.4
Purchases of investments
-1,464
-1,057
-838
-997
-2,015
-459
-248
-79
-184
-527
Sales and maturities of investments
541
502
315
242
1,032
505
478
214
99
62.5
Cash from investing
-751
-578
-360
32.9
913
596
464
189
58.5
77.7
Debt issued
0
106
0
0
Debt repaid
0
-108
0
-0.1
0
Stock issued
3.32
1.93
1.08
0.03
0
0.01
0
Share buybacks
-0.65
-0.47
-25.7
-0.87
-0.02
-0
-2.48
-1.01
-2.92
-3.74
Dividends paid
-38.2
-43.1
-51.6
-41.6
0
Cash from financing
99.8
-76.8
-60.4
-68
-0.02
-30.1
-139
-11
-3.02
-3.74
Exchange rate effect
-1.85
1.76
3.67
-1.56
4.41
-0.47
-1.34
0.34
-1.15
Net change in cash
-18.5
-183
42
146
-230
28.5
-69.7
-19.5
-3.95
5.41
Interest paid
28.7
27.9
23.1
19.1
32.7
19.1
19.1
19.1
19.1
19.1
Income taxes paid
0.79
0.49
0.56
0.52
0.19
0.11
0.11
1.15
0.15
0.19
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2025; growth uses fiscal years. Valuation uses the share price of $10.25 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
-501.2%
Pre-tax income / revenue.
Net margin
-507.6%
Net income / revenue.
Operating cash flow margin
-232.4%
Cash from operations / revenue.
Return on equity (ROE)
-561.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-17.1%
Net income / average total assets.
D&A / revenue
-26.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-36.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-17.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-37.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-81.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-51.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-38.4%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-13.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-17.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-18.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
-1.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
5.1%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
3.8%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
6.78x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
20.6%
Total debt / total assets.
Liabilities / assets
97.0%
Total liabilities / total assets.
Net debt
$226.1M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.42
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.97
Cash from operations / diluted weighted shares.
Book value per share
$0.38
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.91x
Market cap / revenue.
P/B
2.11x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.11x
Market cap / tangible book value, when positive.
EV/Sales
7.35x
Enterprise value / revenue.
Earnings yield
-266.0%
Net income / market cap (the inverse of P/E).
Shareholder yield
3.9%
(Dividends paid + share buybacks) / market cap.
What was Maiden Holdings, Ltd.'s revenue in fiscal 2024?
Maiden Holdings, Ltd. reported revenue of $56.4M for fiscal 2024, 36.8% lower than the year before.
Was Maiden Holdings, Ltd. profitable in fiscal 2024?
No. It reported a net loss of $201.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.