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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%
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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Horace Mann Educators Corporation 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
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.

Source: company filings (standardised) and stockrow calculations.

Horace Mann Educators Corporation (HMN) Latest News

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stockrow.com/HMN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com