Stock fact sheet · data as of
Maiden Holdings, Ltd. 6.625 NT 2046 (MHLA): fair value, margin of safety and Wheel Score
Ticker symbol MHLA · Financial Services · Insurance - Property & Casualty · United States · Speculative Income
Is MHLA undervalued?
Maiden Holdings, Ltd. 6.625 NT 2046 (MHLA) closed at 9.13 on 5 Nov 2026. The GLS average fair value - the simple average of the 2 valuation models that produced a positive number - is 13.73, which puts the price 34% below it. 1 of the 2 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
Only 2 of the nine models produced a value (DCF, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files MHLA under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for MHLA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 3.10 | -66% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 24.37 | +167% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -14.03 | -254% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: MHLA passes 2 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 0.3 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -67.0%, ROE -444.7%, ROA -15.3% - with debt at 5.64 times equity and negative free cash flow. Debt of 5.64 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 18.15% (payout ratio 0%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Diversified Reinsurance 100% (fiscal year FY2018).
Institutional ownership scores 1/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 2 / 9 | ROIC | -67.0% |
|---|---|---|---|
| GLS Moat | 0.3 / 10 | ROE | -444.7% |
| Debt / equity | 5.64 | ROA | -15.3% |
| Free-cash-flow yield | -8.5% | Payout ratio | 0% |
| Institutions | 1 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 23: No options
MHLA has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (23 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 3k shares a day on a market cap of $790M, with a beta of 0.45 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 2/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $790M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 34% below fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | moat 0.3/10 | |
| Health | Weak | Piotroski 2/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.45, $790M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for MHLA in the nightly calendar. The shares go ex-dividend on 30 Nov 2026 (0.4141 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Property & Casualty
The 12 companies below are the closest to Maiden Holdings, Ltd. 6.625 NT 2046 by market cap within the Insurance - Property & Casualty industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| DGICB Donegal Group Inc. | 24.19 | 60.52 | +60% | 32No options | $791M |
| ROOT Root, Inc. | 57.15 | 175.19 | +67% | 35Weak | $782M |
| DGICA Donegal Group Inc. | 19.10 | 54.06 | +65% | 45Weak | $709M |
| HIPO Hippo Holdings Inc. | 35.88 | 60.26 | +40% | 44Weak | $955M |
| HRTG Heritage Insurance Holdings, Inc. | 35.73 | 200.07 | +82% | 83Good | $1.1B |
| AII American Integrity Insurance Group, Inc. | 29.13 | 131.80 | +78% | 36No options | $571M |
| BOW Bowhead Specialty Holdings Inc. | 34.10 | 98.36 | +65% | 33No options | $1.1B |
| ASIC Ategrity Specialty Holdings LLC | 24.46 | 60.93 | +60% | 34No options | $1.2B |
| ACIC American Coastal Insurance Corporation | 10.64 | 37.28 | +71% | 45Weak | $516M |
| UFCS United Fire Group, Inc. | 49.32 | 147.50 | +67% | 47Weak | $1.3B |
| AFGE American Financial Group, Inc. | 15.55 | 120.70 | +87% | 35No options | $1.3B |
| UVE Universal Insurance Holdings, Inc. | 48.78 | 213.39 | +77% | 54Fair | $1.3B |
⚖ Compare MHLA with 7 of them All Financial Services stocks →
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about MHLA
Is MHLA undervalued right now?
By the GLS models, yes: at 9.13 the stock is 34% below the average fair value of 13.73 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of MHLA and what does it mean?
MHLA has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for MHLA?
13.73 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Maiden Holdings, Ltd. 6.625 NT 2046 report earnings next?
No upcoming earnings date is recorded for MHLA in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does MHLA have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on MHLA, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.