Saturday 17 October 2026 Export HMN’s income statement to Excel — free account

Horace Mann Educators Corporation

HMN Financial Insurance Property & Casualty

Horace Mann Educators Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.7 billion, up 6.66% from fiscal 2024. In the quarter to June 2026, revenue grew 7.72%, EPS grew 43.7%, free cash flow grew 70.4% and total debt rose 8.53%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

46.33 0.35 +0.76%

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Market cap: $1.9B
P/E: 10.7×
Fwd P/E: 11.7×
Dividend yield: 3.09%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.16

Total sells 3.86

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	1	—	—	—	—	—	—	—
Sell	4	1	2	—	—	2	3	1	1	3	3	2

Insider Ownership 1.47%

Capital & Financial Ratios $m

Market Cap 1,860.00

Revenue 1,746.10

Net Income 177.30

Free Cash Flow 566.10

Net Debt 548.00

Current Ratio 0.06

Debt/Equity 0.40

P/E ratio 10.75

Fwd P/E 11.70

P/S ratio 1.09

P/B ratio 1.26

Past 5Y EPS Growth 4.23%

This Y EPS Growth 2.89%

Next Y EPS Growth 10.87%

Next Y revenue growth 3.86%

Next 5Y EPS Growth 6.92%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 19.91%

10-year low 10-year high

P/S against its own 10 years 28.31%

10-year low 10-year high

P/B against its own 10 years 69.70%

10-year low 10-year high

Dividends

Payout Ratio 0.33

Annual Dividend Rate 1.43

Annual Dividend Yield 3.09%

	total	individual payouts
2026	1.44	0.36 0.36 0.36
2025	1.40	0.35 0.35 0.35 0.35
2024	1.36	0.34 0.34 0.34 0.34
2023	1.32	0.33 0.33 0.33 0.33
2022	1.28	0.32 0.32 0.32 0.32
2021	1.24	0.31 0.31 0.31 0.31
2020	1.20	0.30 0.30 0.30 0.30
2019	1.15	0.29 0.29 0.29 0.29
2018	1.14	0.29 0.29 0.29 0.29
2017	1.10	0.28 0.28 0.28 0.28
2016	1.06	0.27 0.27 0.27 0.27

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	30	38	28	46
Receivables	481	425	419	409
Inventory	—	—	—	—
Other	—	—	—	—
	510	463	447	455

	2023	2024	2025	Q'26
Payables	7,831	7,637	7,613	7,585
ST’ Debt	—	—	—	—
Other	—	—	—	—
	7,831	7,637	7,613	7,585

Compound Annual Growth %

	10y	5y	3y
Sales	4.65%	5.36%	7.19%
Cash Flow	10.29%	16.32%	47.75%
Earnings	5.66%	3.99%	101.55%
Book Value	1.60%	(3.70%)	10.52%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	429	444	—	—	—
’25	416	412	439	435	1,701
’24	386	388	412	409	1,595
’23	354	356	379	403	1,492
’22	347	346	343	346	1,382
’21	322	347	330	331	1,329
’20	307	315	337	351	1,310

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	61	224	—	—	—
’25	141	131	151	130	553
’24	75	40	144	194	452
’23	86	68	45	103	302
’22	96	(16)	36	56	172
’21	142	(25)	62	27	205
’20	87	78	102	(8)	260

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	61	224	—	—	—
’25	141	131	151	130	553
’24	75	40	144	194	452
’23	86	68	45	103	302
’22	96	(16)	36	56	172
’21	142	(25)	62	27	205
’20	87	78	102	(8)	260

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.00	1.01	—	—	—
’25	0.92	0.71	1.40	0.87	3.90
’24	0.64	0.09	0.83	0.92	2.48
’23	0.16	(0.31)	0.28	0.95	1.09
’22	0.48	(0.10)	0.49	(0.45)	0.47
’21	0.93	1.11	0.39	1.61	3.39
’20	0.44	0.73	0.87	1.13	3.17

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	27.15	33.85	35.34	34.38	30.48	36.21	32.60	27.81	31.81	36.20	Analyst estimates 2026–2028 Powerpack
	High	43.65	47.65	47.50	48.15	46.23	44.74	42.95	38.57	43.26	48.33
People
People	Employees	1,473	1,496	1,495	1,538	1,490	1,450	1,700	1,700	1,750	1,800
	Revenue/emp, $m	0.77	0.78	0.80	0.93	0.88	0.92	0.81	0.88	0.91	0.95
Income, $m
Income, $m	Revenue	1,129	1,172	1,192	1,431	1,310	1,329	1,382	1,492	1,595	1,701
	Gross margin, %	35.07	33.34	29.19	44.22	40.97	43.53	33.38	34.66	39.76	45.43
	EBT	114	89	20	236	160	210	17	53	129	201
	EBT margin, %	10.12	7.57	1.64	16.53	12.18	15.81	1.19	3.57	8.06	11.83
	Net income	84	169	18	184	133	170	20	45	103	162
	Depreciation	7	(7)	(3)	16	23	18	28	26	26	27
Per share, $
Per share, $	Revenue	27.43	28.32	28.66	34.30	31.27	31.65	33.21	36.12	38.62	41.30
	Earnings	2.02	4.08	0.44	4.40	3.17	3.39	0.48	1.09	2.49	3.90
	Cash flow	5.14	6.20	4.83	3.06	6.20	4.88	4.12	7.31	10.95	13.43
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	5.14	6.20	4.83	3.06	6.20	4.88	4.12	7.31	10.95	13.43
	Book value	31.44	36.30	31.05	37.58	42.72	43.03	26.40	28.46	31.17	35.99
	Shares, m	41	41	42	42	42	42	42	41	41	41
Valuation, ×
Valuation, ×	P/E	21.13	10.78	87.09	9.95	13.26	9.56	88.10	31.11	15.76	11.75
	P/S	1.56	1.54	1.31	1.27	1.34	1.22	1.13	0.93	1.02	1.12
	P/B	1.36	1.21	1.21	1.16	0.98	0.90	1.42	1.18	1.26	1.28
	EV/Sales	1.87	1.89	1.64	1.56	1.66	1.50	1.46	1.44	1.49	1.60
	EV/FCF	9.98	8.62	9.73	17.46	8.38	9.73	11.77	7.13	5.26	4.91
Cash, $m
Cash, $m	Operating cash flow	211	257	201	128	260	205	172	302	452	553
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	211	257	201	128	260	205	172	302	452	553
Balance, $m
Balance, $m	Working capital	(6,007)	(6,174)	(6,372)	(7,066)	(7,261)	(7,221)	(7,547)	(7,321)	(7,174)	(7,166)
	Total debt	247	297	298	433	437	503	498	546	547	593
	Net debt	231	290	286	408	415	369	455	516	509	566
	Shareholders’ equity	1,294	1,502	1,291	1,567	1,790	1,807	1,098	1,175	1,288	1,483
Returns, %
Returns, %	ROA	0.81	1.56	0.17	1.57	1.03	1.22	0.14	0.33	0.72	1.09
	ROIC	5.17	3.51	1.29	8.86	5.24	6.43	1.64	3.07	5.68	7.25
	ROE	6.55	12.12	1.31	12.90	7.94	9.47	1.36	3.96	8.35	11.70

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SKWD Skyward Specialty Insurance Group, Inc.	$2.7B	13.8×	10.3×	+53.03% (above 0%: growing)	+14.58% (above 0%: growing)	−23.60% (below 0%: shrinking)	43.47%	14.78%	Compare
HCI HCI Group, Inc.	$2.4B	8.3×	8.6×	+11.15% (above 0%: growing)	+3.77% (above 0%: growing)	−13.60% (below 0%: shrinking)	58.07%	45.43%	Compare
PRCH Porch Group, Inc.	$2.0B	— (loss-making)	— (loss-making)	+11.74% (above 0%: growing)	n/m	+13.30% (above 0%: growing)	62.17%	(2.92%)	Compare
HMN Horace Mann Educators Corporation	$1.9B	10.7×	11.7×	+7.72% (above 0%: growing)	+43.66% (above 0%: growing)	+70.37% (above 0%: growing)	45.68%	13.21%
KMPR Kemper Corporation	$1.7B	— (loss-making)	14.6×	−10.84% (below 0%: shrinking)	n/m	−76.71% (below 0%: shrinking)	0.17%	(41.92%)	Compare
STC Stewart Information Services Corporation	$1.6B	11.5×	12.3×	+24.52% (above 0%: growing)	+7.08% (above 0%: growing)	−12.37% (below 0%: shrinking)	64.98%	9.41%	Compare
SAFT Safety Insurance Group, Inc.	$1.5B	22.4×	— (loss-making)	+2.95% (above 0%: growing)	+21.03% (above 0%: growing)	+16.88% (above 0%: growing)	14.33%	13.69%	Compare
UFCS United Fire Group, Inc	$1.4B	10.5×	10.8×	+14.38% (above 0%: growing)	+48.28% (above 0%: growing)	−34.70% (below 0%: shrinking)	33.66%	11.76%	Compare
UVE UNIVERSAL INSURANCE HOLDINGS INC	$1.3B	6.0×	8.1×	+6.72% (above 0%: growing)	+71.20% (above 0%: growing)	−4.81% (below 0%: shrinking)	26.79%	19.11%	Compare
Median of peers	$1.6B	11.0×	10.6×	+11.45%	+17.80%	−12.99%	38.57%	12.73%

All 45 Insurance Property & Casualty stocks →

Horace Mann Educators Corporation (HMN) key facts

Strength: Horace Mann Educators Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.7 billion, up 6.66% from fiscal 2024.
Horace Mann Educators Corporation (HMN) is an Insurance Property & Casualty company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, HMN traded at $46.33, a market capitalization of $1.9 billion.
Horace Mann Educators Corporation pays an annual dividend of $1.43 per share, a yield of 3.09%, with a payout ratio of 33.4%.
Return on equity was 11.7% and debt-to-equity 0.40.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.