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

Heritage Insurance Holdings, Inc.

HRTG Financial Insurance Property & Casualty

Heritage Insurance Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $847.3 million, up 3.71% from fiscal 2024. In the quarter to June 2026, revenue grew 2.96%, EPS grew 32.9%, free cash flow grew 237.6% and total debt fell 22.8%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

35.77 0.84 −2.29%

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Market cap: $1.1B
P/E: 5.1×
Fwd P/E: 5.1×
Dividend yield: —
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 0.38

Total sells 10.57

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	—	—	—	—	—
Sell	5	4	1	1	3	3	1	1	1	6	5	—

Insider Ownership 20.41%

Capital & Financial Ratios $m

Market Cap 1,090.00

Revenue 854.63

Net Income 215.29

Free Cash Flow 300.91

Net Debt (530.09)

Current Ratio 0.83

Debt/Equity 0.13

P/E ratio 5.08

Fwd P/E 5.13

P/S ratio 1.26

P/B ratio 1.89

Past 5Y EPS Growth 80.48%

This Y EPS Growth (13.50%)

Next Y EPS Growth (4.88%)

Next Y revenue growth 1.70%

Next 5Y EPS Growth 30.33%

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

Valuation vs history

P/E against its own 10 years 19.93%

10-year low 10-year high

P/S against its own 10 years 98.34%

10-year low 10-year high

P/B against its own 10 years 96.06%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	0.12	0.06 0.06
2021	0.24	0.06 0.06 0.06 0.06
2020	0.24	0.06 0.06 0.06 0.06
2019	0.24	0.06 0.06 0.06 0.06
2018	0.24	0.06 0.06 0.06 0.06
2017	0.24	0.06 0.06 0.06 0.06
2016	0.23	0.05 0.06 0.06 0.06

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	473	464	573	601
Receivables	879	1,152	721	860
Inventory	—	—	—	—
Other	—	—	—	—
	1,353	1,616	1,294	1,461

	2023	2024	2025	Q'26
Payables	1,718	2,012	1,558	1,754
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,727	2,021	1,567	1,761

Compound Annual Growth %

	10y	5y	3y
Sales	7.94%	7.38%	8.55%
Cash Flow	2.18%	1.37%	0.00%
Earnings	7.77%	83.79%	0.00%
Book Value	3.55%	2.70%	56.81%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	213	214	—	—	—
’25	212	208	212	215	847
’24	191	204	212	210	817
’23	177	185	186	187	735
’22	159	164	165	175	662
’21	147	150	167	167	632
’20	133	136	165	160	593

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	25	142	—	—	—
’25	1	43	124	14	182
’24	4	152	(13)	(56)	87
’23	15	9	(53)	100	70
’22	(39)	(8)	32	(19)	(34)
’21	39	65	(32)	(13)	60
’20	86	46	(13)	52	170

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	23	141	—	—	—
’25	(1)	42	126	11	177
’24	4	150	(16)	(59)	79
’23	10	5	(56)	98	61
’22	(39)	(13)	28	(30)	(47)
’21	39	63	(33)	(10)	59
’20	86	46	(13)	51	169

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.19	2.05	—	—	—
’25	0.99	1.55	1.63	2.15	6.32
’24	0.47	0.61	0.27	0.66	2.01
’23	0.55	0.30	(0.28)	1.15	1.73
’22	(1.15)	(3.32)	(1.83)	0.48	(5.86)
’21	(0.19)	(0.14)	(0.59)	(1.79)	(2.69)
’20	0.27	0.15	(0.19)	0.10	0.33

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	11.25	8.85	12.85	12.72	7.50	5.47	1.12	1.77	5.51	9.89	Analyst estimates 2026–2028 Powerpack
	High	21.42	18.70	19.15	16.38	14.05	12.20	7.37	9.79	16.90	31.98
People
People	Employees	311	431	447	530	641	648	612	566	540	542
	Revenue/emp, $m	1.41	0.94	1.07	0.96	0.93	0.97	1.08	1.30	1.51	1.56
Income, $m
Income, $m	Revenue	439	407	480	511	593	632	662	735	817	847
	Gross margin, %	26.35	29.82	32.92	25.45	15.46	9.22	0.75	19.27	21.88	42.50
	EBT	56	(6)	39	41	2	(76)	(166)	52	83	259
	EBT margin, %	12.85	(1.45)	8.12	8.02	0.37	(12.04)	(25.08)	7.07	10.12	30.60
	Net income	34	(1)	27	29	9	(75)	(154)	45	62	196
	Depreciation	17	19	37	17	15	75	104	6	8	12
Per share, $
Per share, $	Revenue	14.81	15.17	18.51	17.50	21.21	22.71	25.15	28.08	26.70	27.43
	Earnings	1.14	(0.04)	1.05	0.98	0.33	(2.69)	(5.86)	1.73	2.01	6.33
	Cash flow	2.80	0.28	3.71	4.10	6.08	2.16	(1.30)	2.69	2.85	5.90
	Capex	(0.05)	(0.01)	(0.09)	(0.17)	(0.03)	(0.04)	(0.47)	(0.38)	(0.27)	(0.16)
	Free cash flow	2.74	0.27	3.63	3.93	6.06	2.13	(1.77)	2.31	2.58	5.74
	Book value	12.08	14.17	16.40	15.36	15.81	12.34	4.97	8.41	9.50	16.36
	Shares, m	30	27	26	29	28	28	26	26	31	31
Valuation, ×
Valuation, ×	P/E	14.03	0.00	14.02	13.52	30.70	0.00	0.00	3.74	5.99	4.62
	P/S	1.08	1.17	0.80	0.76	0.48	0.26	0.07	0.23	0.45	1.07
	P/B	1.32	1.25	0.90	0.86	0.64	0.48	0.37	0.77	1.27	1.79
	EV/Sales	0.96	1.19	0.56	0.46	(0.07)	(0.13)	(0.17)	(0.25)	0.03	0.48
	EV/FCF	5.16	68.12	2.85	2.03	(0.25)	(1.36)	2.36	(3.06)	0.29	2.31
Cash, $m
Cash, $m	Operating cash flow	83	7	96	120	170	60	(34)	70	87	182
	Capex	(2)	0	(2)	(5)	(1)	(1)	(12)	(10)	(8)	(5)
	Free cash flow	81	7	94	115	169	59	(47)	61	79	177
Balance, $m
Balance, $m	Working capital	(294)	(284)	(261)	(330)	(324)	(468)	(570)	(374)	(405)	(274)
	Total debt	73	184	149	129	121	121	129	120	116	78
	Net debt	(54)	10	(114)	(154)	(325)	(244)	(159)	(354)	(347)	(494)
	Shareholders’ equity	358	380	425	449	442	343	131	220	291	505
Returns, %
Returns, %	ROA	3.62	(0.08)	1.53	1.54	0.46	(3.67)	(7.06)	2.01	2.68	8.39
	ROIC	11.67	7.94	13.94	10.50	5.44	(42.95)	0.00	0.00	0.00	1,504.50
	ROE	9.48	(0.30)	6.75	6.55	2.09	(19.03)	(65.12)	25.79	24.08	49.14

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
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
ASIC Ategrity Specialty Insurance Company Holdings	$1.3B	12.3×	10.2×	+45.89% (above 0%: growing)	+75.00% (above 0%: growing)	+47.83% (above 0%: growing)	31.87%	31.28%	Compare
TRUP Trupanion, Inc.	$1.2B	52.1×	40.6×	+11.14% (above 0%: growing)	−27.27% (below 0%: shrinking)	+59.01% (above 0%: growing)	16.58%	1.62%	Compare
BOW Bowhead Specialty Holdings Inc.	$1.1B	18.5×	12.9×	+22.96% (above 0%: growing)	+33.33% (above 0%: growing)	−13.86% (below 0%: shrinking)	29.19%	13.09%	Compare
HRTG Heritage Insurance Holdings, Inc.	$1.1B	5.1×	5.1×	+2.96% (above 0%: growing)	+32.90% (above 0%: growing)	+237.57% (above 0%: growing)	50.25%	39.15%
HIPO Hippo Holdings Inc.	$930.5M	7.4×	70.4×	+23.36% (above 0%: growing)	+660.00% (above 0%: growing)	+86.85% (above 0%: growing)	100.00%	8.02%	Compare
ROOT Root, Inc.	$782.6M	13.6×	18.1×	+1.65% (above 0%: growing)	+13.24% (above 0%: growing)	+12.08% (above 0%: growing)	38.36%	8.89%	Compare
Median of peers	$1.3B	13.0×	12.9×	+12.76%	+40.81%	+14.48%	30.53%	12.43%

All 45 Insurance Property & Casualty stocks →