Accelerant Holdings
ARX Financial Insurance Brokers
Accelerant Holdings' revenue for fiscal 2025 (year ended December 2025) was $912.9 million, up 51.5% from fiscal 2024. In the quarter to June 2026, revenue grew 62.9%, EPS grew 620.0%, free cash flow fell 139.6% and total debt fell 5.21%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow ARX
Accelerant Holdings (ARX) Piotroski F-score
Accelerant Holdings's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (19.85%) | 0.55% | Fail | 0 |
| Positive operating cash flow | 445.10m | 785.70m | Pass | 1 |
| Rising return on assets | (19.85%) | 0.55% | Fail | 0 |
| Cash flow above net income | 1.87b | 758.50m | Pass | 1 |
| Falling long-term leverage | 0.02 | 0.02 | Pass | 1 |
| Rising current ratio | 1.60 | 1.42 | Pass | 1 |
| No new shares issued | 190,260,000 | 165,982,000 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.13 | 0.12 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CRVL CorVel Corp. compare | 7 |
| TWFG TWFG, Inc. compare | 6 |
| ERIE Erie Indemnity Company compare | 6 |
| WTW Willis Towers Watson Public Limited Company compare | 6 |
| ARX Accelerant Holdings | 5 |
| BRO Brown & Brown, Inc. compare | 4 |
| GSHD Goosehead Insurance compare | 4 |
| BWIN Baldwin Insurance Group, Inc. compare | 4 |
| NP Neptune Insurance Holdings Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover