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MIDWEST HOLDING INC (MDWT) Stock Fundamental Analysis

NASDAQ:MDWT - Nasdaq - US59833J2069 - Common Stock - Currency: USD

26.99  0 (0%)

Fundamental Rating

3

Overall MDWT gets a fundamental rating of 3 out of 10. We evaluated MDWT against 143 industry peers in the Insurance industry. MDWT may be in some trouble as it scores bad on both profitability and health. MDWT is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

MDWT had negative earnings in the past year.
MDWT had a positive operating cash flow in the past year.
MDWT had negative earnings in 4 of the past 5 years.
In the past 5 years MDWT reported 4 times negative operating cash flow.
MDWT Yearly Net Income VS EBIT VS OCF VS FCFMDWT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 20M -20M 40M 60M

1.2 Ratios

Looking at the Return On Assets, with a value of -0.10%, MDWT is doing worse than 72.22% of the companies in the same industry.
MDWT has a Return On Equity of -17.23%. This is amonst the worse of the industry: MDWT underperforms 81.94% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.23%, MDWT is in line with its industry, outperforming 42.36% of the companies in the same industry.
Industry RankSector Rank
ROA -0.1%
ROE -17.23%
ROIC 0.23%
ROA(3y)-0.9%
ROA(5y)-2.59%
ROE(3y)-2.68%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
MDWT Yearly ROA, ROE, ROICMDWT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 100 -100

1.3 Margins

MDWT's Operating Margin of 7.60% is in line compared to the rest of the industry. MDWT outperforms 48.61% of its industry peers.
The Profit Margin and Gross Margin are not available for MDWT so they could not be analyzed.
Industry RankSector Rank
OM 7.6%
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
MDWT Yearly Profit, Operating, Gross MarginsMDWT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 -500 -1K -1.5K

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3

2. Health

2.1 Basic Checks

MDWT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
MDWT has about the same amout of shares outstanding than it did 1 year ago.
Compared to 1 year ago, MDWT has a worse debt to assets ratio.
MDWT Yearly Shares OutstandingMDWT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 1M 2M 3M
MDWT Yearly Total Debt VS Total AssetsMDWT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B

2.2 Solvency

MDWT has a debt to FCF ratio of 0.25. This is a very positive value and a sign of high solvency as it would only need 0.25 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 0.25, MDWT belongs to the best of the industry, outperforming 95.14% of the companies in the same industry.
A Debt/Equity ratio of 1.82 is on the high side and indicates that MDWT has dependencies on debt financing.
With a Debt to Equity ratio value of 1.82, MDWT is not doing good in the industry: 90.28% of the companies in the same industry are doing better.
Although MDWT does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 1.82
Debt/FCF 0.25
Altman-Z N/A
ROIC/WACC0.03
WACC7.98%
MDWT Yearly LT Debt VS Equity VS FCFMDWT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 20M -20M 40M 60M 80M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MDWT Yearly Current Assets VS Current LiabilitesMDWT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2M 4M 6M 8M

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7

3. Growth

3.1 Past

MDWT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 57.32%, which is quite impressive.
MDWT shows a strong growth in Revenue. In the last year, the Revenue has grown by 378.45%.
MDWT shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 67.60% yearly.
EPS 1Y (TTM)57.32%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-233.33%
Revenue 1Y (TTM)378.45%
Revenue growth 3Y274.72%
Revenue growth 5Y67.6%
Sales Q2Q%1733.93%

3.2 Future

Based on estimates for the next years, MDWT will show a very strong growth in Earnings Per Share. The EPS will grow by 208.68% on average per year.
MDWT is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 34.73% yearly.
EPS Next Y828.57%
EPS Next 2Y208.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year73.04%
Revenue Next 2Y34.73%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
MDWT Yearly Revenue VS EstimatesMDWT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
MDWT Yearly EPS VS EstimatesMDWT Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 0 1 -1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

MDWT reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 8.54, the valuation of MDWT can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MDWT indicates a somewhat cheap valuation: MDWT is cheaper than 67.36% of the companies listed in the same industry.
MDWT's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
Industry RankSector Rank
PE N/A
Fwd PE 8.54
MDWT Price Earnings VS Forward Price EarningsMDWT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40

4.2 Price Multiples

96.53% of the companies in the same industry are more expensive than MDWT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 1.01
EV/EBITDA N/A
MDWT Per share dataMDWT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MDWT's earnings are expected to grow with 208.68% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y208.68%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

MDWT does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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MIDWEST HOLDING INC

NASDAQ:MDWT (12/20/2023, 8:23:45 PM)

26.99

0 (0%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)11-13 2023-11-13/amc
Earnings (Next)03-25 2024-03-25/amc
Inst Owners1%
Inst Owner Change0%
Ins Owners8033.91%
Ins Owner Change0%
Market Cap100.94M
Analysts45.71
Price Target27.54 (2.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1485.07%
Min EPS beat(2)-430.5%
Max EPS beat(2)3400.65%
EPS beat(4)2
Avg EPS beat(4)671.12%
Min EPS beat(4)-430.5%
Max EPS beat(4)3400.65%
EPS beat(8)4
Avg EPS beat(8)362.28%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)95.87%
Min Revenue beat(2)62.12%
Max Revenue beat(2)129.61%
Revenue beat(4)3
Avg Revenue beat(4)44.19%
Min Revenue beat(4)-56.58%
Max Revenue beat(4)129.61%
Revenue beat(8)4
Avg Revenue beat(8)-9.97%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-12.41%
EPS NY rev (3m)-12.41%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)99900%
Revenue NY rev (1m)13.87%
Revenue NY rev (3m)13.87%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 8.54
P/S 1.13
P/FCF 1.01
P/OCF 1.01
P/B 7.37
P/tB 7.37
EV/EBITDA N/A
EPS(TTM)-0.7
EYN/A
EPS(NY)3.16
Fwd EY11.72%
FCF(TTM)26.64
FCFY98.7%
OCF(TTM)26.74
OCFY99.07%
SpS23.92
BVpS3.66
TBVpS3.66
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.1%
ROE -17.23%
ROCE 0.29%
ROIC 0.23%
ROICexc 0.25%
ROICexgc 0.26%
OM 7.6%
PM (TTM) N/A
GM N/A
FCFM 111.36%
ROA(3y)-0.9%
ROA(5y)-2.59%
ROE(3y)-2.68%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 1.82
Debt/FCF 0.25
Debt/EBITDA N/A
Cap/Depr -1.51%
Cap/Sales 0.41%
Interest Coverage 250
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC7.98%
ROIC/WACC0.03
Cap/Depr(3y)4.44%
Cap/Depr(5y)20.66%
Cap/Sales(3y)3.18%
Cap/Sales(5y)4.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)57.32%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-233.33%
EPS Next Y828.57%
EPS Next 2Y208.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)378.45%
Revenue growth 3Y274.72%
Revenue growth 5Y67.6%
Sales Q2Q%1733.93%
Revenue Next Year73.04%
Revenue Next 2Y34.73%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y216.44%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y462.29%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y464.3%
OCF growth 3YN/A
OCF growth 5YN/A