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Hagerty, Inc.

HGTY Financial Insurance Property & Casualty

Hagerty, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 17.3% from fiscal 2024.

Revenue
−9.50%
EPS
+89.9%
Free cash flow
+1.36%
Total debt
−11.4%

Quarter to September 2026, against a year earlier

18.17 0.19 −1.03%
Market cap
$6.3B
P/E
57.0×
Fwd P/E
77.9×
Dividend yield
—
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.30
Sold, $m 128.01
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 2 — 1 — — — — — —
Sell 1 4 — — 1 — 1 1 — 1 — —
Insider Ownership 6.76%

Capital & Financial Ratios $m

Size
Market Cap 6,310.00
Revenue ttm 1,378.22
Net income ttm 60.12
Free cash flow ttm 279.65
Net debt Q (989.04)
Valuation
P/E 57.02 (above 35: high)
Forward P/E 77.90 (above 35: high)
Price / sales 1.41
Forward P/S Powerpack
Price / FCF 6.96
Price / book 2.93
Financial health
Current ratio Q 1.59
Debt / equity Q 0.41
Interest coverage Q 123.03
Growth
Revenue growth Q −9.50% (below 0%: shrinking)
Operating income growth Q +130.74% (above 0%: growing)
EPS, this year −80.27% (below 0%: weak)
EPS, next year A +645.22% (at or above 15%: strong)
Revenue, next year A −7.92% (below 0%: weak)
EPS, past 5 yrs −67.39% (below 0%: weak)
EPS, next 5 yrs A +19.54% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 71.83%
10-year low 10-year high
P/S against its own 10 years 93.34%
10-year low 10-year high
P/B against its own 10 years 91.13%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 735 822 1,030 1,298
Receivables 288 259 306 153
Inventory — — — —
Other 49 91 — —
1,250 1,295 1,629 1,695
2023 2024 2025 Q'26
Payables 87 59 112 122
ST’ Debt 100 108 123 63
Other 484 526 581 643
842 869 998 1,065

Compound Annual Growth %

10y 5y 3y
Sales — 23.86% 22.74%
Cash Flow — 20.96% 58.18%
Earnings — 32.47% 8.93%
Book Value — 44.81% 26.69%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.01 Actual 0.10

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.04 0.08 Beat by 0.04
Q1 FY26 0.01 −0.04 Miss by 0.05
Q2 FY26 −0.08 −0.02 Beat by 0.06
Q3 FY26 0.01 0.10 Beat by 0.09
Q4 FY26 0.05 — Reports 25 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.06) (0.02) 0.34 — —
’25 0.07 0.09 0.11 0.06 0.37
’24 (0.04) 0.09 0.03 0.01 0.10
’23 (0.03) 0.03 0.04 0.03 0.09
’22 (0.01) (0.07) 0.07 (0.06) (0.07)
’21 (68.51) 125.03 (5.47) (0.56) (0.56)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 312 355 354 — —
’25 328 379 391 357 1,456
’24 272 313 323 333 1,242
’23 218 261 276 272 1,027
’22 168 206 217 197 788
’21 129 167 168 154 619
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 16 170 94 — —
’25 44 54 92 29 219
’24 58 64 67 (13) 177
’23 12 59 62 1 134
’22 9 51 34 (38) 55
’21 21 47 17 (43) 42
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 9 162 86 — —
’25 38 48 85 23 194
’24 54 57 62 (17) 156
’23 4 51 56 (3) 107
’22 (2) 40 22 (49) 11
’21 10 39 5 (55) (1)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — — 500 619 788 1,027 1,242 1,456 1,378 +23.9% 1,341 1,491 1,570 +2.5%
Gross margin, % — — — — 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT — — — — 15 (55) 11 45 94 139 62 +56.4%
EBT margin, % — — — — 2.97 (8.82) 1.41 4.36 7.55 9.56 4.53 +6.6 pt
Net income — 0 — — 10 (61) 2 28 78 149 60 n/m
Per share, $
Per share, $ Revenue — — — — 4,995.48 7.52 9.52 12.20 14.18 15.43 12.99 (68.5%)
Earnings — — — — 100.39 (0.56) 0.39 0.19 0.10 0.41 0.32 (66.7%)
Cash flow — — — — 845.72 0.51 0.67 1.59 2.02 2.32 2.91 (69.3%)
Capex — — — — (382.58) (0.53) (0.54) (0.31) (0.24) (0.26) (0.28) (76.8%)
Free cash flow — — — — 463.14 (0.01) 0.13 1.27 1.78 2.06 2.64 (66.1%)
Book value — — — — 1,173.21 (3.92) 4.44 5.86 6.95 7.91 7.09 (63.2%)
Shares, m — — — — 0 82 83 84 88 94 101 +293.5%
Valuation, ×
Valuation, × P/E — — — — 0.28 0.28 22.37 43.72 107.22 33.60 57.02 34.6
P/S — — — — 0.00 1.89 0.89 0.65 0.68 0.87 1.41 0.8
P/B — — — — 43.53 0.00 1.91 1.61 1.61 1.92 2.93 8.4
EV/Sales — — — — 0.00 1.25 0.45 0.15 0.19 0.37 — 0.4
EV/FCF — — — — 0.00 (707.83) 32.64 1.47 1.52 2.78 — (111.6)
Cash, $m
Cash, $m Operating cash flow — — — — 85 42 55 134 177 219 309 +21.0%
Capex — — — — (38) (43) (44) (26) (21) (25) (30) (8.5%)
Free cash flow — — — — 46 (1) 11 107 156 194 280 +33.2%
Balance, $m
Balance, $m Working capital — — — — 129 399 269 408 426 631 630 +37.5%
Net debt — — — — (167) (397) (346) (504) (608) (729) (989) +34.3%
Shareholders’ equity — — — — 117 (322) 367 493 608 747 752 +44.8%
Returns, %
Returns, % ROA — — — — 3.33 (5.61) 2.72 1.14 0.58 2.18 0.32 (1.2) pt
ROIC — — — — 0.00 0.00 (194.49) 0.00 0.00 624.99 0.00 +625.0 pt
ROE — — — — (6.30) 45.19 142.91 4.26 2.05 7.00 1.10 +13.3 pt
People
People Employees — — — — — 1,668 1,874 1,732 1,744 1,891 — +3.2%
Revenue/emp, $m — — — — 0.00 0.37 0.42 0.59 0.71 0.77 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Hagerty, Inc. vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ORI Old Republic International Corporation $9.7B 8.8× 8.9× +5.21% (above 0%: growing) −11.55% (below 0%: shrinking) −23.85% (below 0%: shrinking) 11.68% 11.68% Compare
KNSL Kinsale Capital Group, Inc. $8.9B 17.2× 16.2× −8.58% (below 0%: shrinking) −28.76% (below 0%: shrinking) −9.58% (below 0%: shrinking) 27.99% 27.89% Compare
THG The Hanover Insurance Group, Inc. $8.6B 11.7× 11.6× +4.23% (above 0%: growing) +1.22% (above 0%: growing) −6.06% (below 0%: shrinking) 42.97% 13.27% Compare
RLI RLI Corp. $6.4B 16.2× 16.0× −6.34% (below 0%: shrinking) −34.81% (below 0%: shrinking) +8.17% (above 0%: growing) 29.66% 22.52% Compare
HGTY Hagerty, Inc. $6.3B 57.0× 77.9× −9.50% (below 0%: shrinking) +89.89% (above 0%: growing) +1.36% (above 0%: growing) 100.00% 30.77%
SIGI Selective Insurance Group, Inc. $6.0B 12.2× 11.7× −2.49% (below 0%: shrinking) +14.05% (above 0%: growing) −12.67% (below 0%: shrinking) 42.49% 13.22% Compare
WTM White Mountains Insurance Group, Ltd. $5.5B 6.0× 5.1× −25.82% (below 0%: shrinking) n/m −0.75% (below 0%: shrinking) 0.00% 0.00% Compare
MCY Mercury General Corporation $4.7B 7.3× 7.0× −12.84% (below 0%: shrinking) n/m −25.62% (below 0%: shrinking) 7.63% (0.92%) Compare
PLMR Palomar Holdings, Inc. $4.1B 20.2× 17.7× +54.65% (above 0%: growing) +14.94% (above 0%: growing) +38.21% (above 0%: growing) 23.77% 23.77% Compare
Median of peers $6.2B 11.9× 11.6× −4.41% −5.16% −7.82% 25.88% 13.25%

All 46 Insurance Property & Casualty stocks →

Pay and ownership Proxy statement filed 30 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 4.73m 16.03m 159.81
2024 3.21m 6.95m 114.74
2023 2.38m 1.45m 92.75

Ownership

Directors and executive officers, together less than 1% of the votes
Hagerty Holding Corp. 66.00% of the votes
Markel Group Inc. 29.90% of the votes
State Farm Mutual Automobile Insurance Company 2.20% of the votes
First Restated Tammy J. Hagerty Revocable Trust dated September less than 1% of the votes
Polar Capital less than 1% of the votes
T. Rowe Price Investment Management Inc. less than 1% of the votes
McKeel Hagerty less than 1% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Hagerty, Inc. (HGTY) Latest News

4 Nov

Impact 3 · · MarketBeat transcript

3 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool
Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · PR Newswire

23 Oct

Impact 3 · · GlobeNewswire

21 Oct

Impact 4 · · GlobeNewswire

20 Oct

Impact 3 · · PR Newswire

16 Oct

Impact 3 · · GlobeNewswire
Impact 3 · · Simply Wall St.

15 Oct

Impact 3 · · GlobeNewswire

9 Oct

Impact 3 · · PR Newswire

27 Sep

Impact 4 · · Simply Wall St.

24 Sep

Impact 3 ·

23 Sep

Impact 3 · · GlobeNewswire

22 Sep

Impact 3 · · PR Newswire

25 Aug

Impact 3 ·

21 Aug

Impact 3 ·

18 Aug

Impact 3 ·

17 Aug

Impact 3 ·
Impact 3 ·

13 Aug

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat

5 Aug

Impact 4 · transcript
Impact 3 ·
Impact 3 ·
Impact 3 ·

6 Jul

Impact 4 · · rideapart.com

3 Jul

Impact 4 · · lifeinsuranceinternational.com

HGTY metrics, ten years each

stockrow.com/HGTY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com