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Safety Insurance Group, Inc.

SAFT Financial Insurance Property & Casualty

Safety Insurance Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 12.8% from fiscal 2024.

Revenue
+2.95%
EPS
+21.0%
Free cash flow
+16.9%
Total debt
+66.7%

Quarter to June 2026, against a year earlier

104.26 0.09 −0.09%
Market cap
$1.5B
P/E
22.4×
Fwd P/E
0.0×
Dividend yield
3.53%
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

Sold, $m 138.65
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 3 2 — — — 5 — — — —
Insider Ownership 1.18%

Capital & Financial Ratios $m

Size
Market Cap 1,530.00
Revenue ttm 1,286.31
Net income ttm 68.62
Free cash flow ttm 175.72
Net debt Q (17.92)
Valuation
P/E 22.42
Forward P/E 0.00
Price / sales 1.18
Forward P/S Powerpack
Price / FCF 8.62
Price / book 1.73
Financial health
Current ratio Q 0.40
Debt / equity Q 0.06
Interest coverage Q 54.75
Growth
Revenue growth Q +2.95% (above 0%: growing)
Operating income growth Q +19.59% (above 0%: growing)
EPS, this year −28.32% (below 0%: weak)
EPS, next year A +62.65% (at or above 15%: strong)
Revenue, next year A −100.00% (below 0%: weak)
EPS, past 5 yrs −6.10% (below 0%: weak)
EPS, next 5 yrs A +9.01%

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 80.05%
10-year low 10-year high
P/S against its own 10 years 27.87%
10-year low 10-year high
P/B against its own 10 years 81.99%
10-year low 10-year high

Dividends

Yield
3.53%
Annual rate
3.68
Payout ratio
79.3%
Growth, 2018–26
−1.83%/yr
  1. 3.20 ’18
  2. 3.40 ’19 +6
  3. 3.60 ’20 +6
  4. 3.60 ’21 +0
  5. 3.60 ’22 +0
  6. 3.60 ’23 +0
  7. 3.60 ’24 +0
  8. 3.64 ’25 +1
  9. 2.76 ’26 −24
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 38 59 74 68
Receivables 416 506 523 563
Inventory — — — —
Other — — — —
454 565 597 631
2023 2024 2025 Q'26
Payables 1,213 1,395 1,513 1,567
ST’ Debt — 30 — —
Other — — — —
1,213 1,425 1,513 1,567

Compound Annual Growth %

10y 5y 3y
Sales 4.71% 8.35% 16.58%
Cash Flow 23.86% 12.18% 63.71%
Earnings 0.00% (6.41%) 28.89%
Book Value 3.31% 0.17% 3.19%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY15 Estimate −0.38 Actual −2.37

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY12 0.63 0.62 Miss by 0.01
Q3 FY14 1.12 1.03 Miss by 0.09
Q4 FY14 0.63 0.69 Beat by 0.06
Q1 FY15 −0.38 −2.37 Miss by 1.99

EPS $

Mar Jun Sep Dec Year
’26 (0.99) 2.36 — — —
’25 1.48 1.95 1.91 1.36 6.70
’24 1.36 1.13 1.73 0.55 4.78
’23 (0.84) 1.15 0.13 0.83 1.28
’22 0.53 0.53 0.42 1.67 3.15
’21 2.42 2.49 1.64 2.14 8.80
’20 (0.13) 2.78 2.96 3.55 9.18
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 315 326 — — —
’25 301 316 327 319 1,264
’24 268 270 295 287 1,120
’23 214 229 229 258 931
’22 195 184 192 227 798
’21 222 223 214 226 885
’20 181 208 222 235 846
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (17) 38 — — —
’25 3 32 85 74 194
’24 (21) 26 74 50 129
’23 (13) (1) 31 35 52
’22 (15) 15 24 21 44
’21 13 50 48 31 141
’20 (29) 54 51 33 109
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (19) 38 — — —
’25 3 32 93 64 192
’24 (24) 29 76 43 124
’23 (13) 2 27 35 50
’22 (16) 16 23 22 45
’21 (55) 116 43 34 138
’20 (31) 51 48 37 105
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 820 839 836 878 846 885 798 931 1,120 1,264 1,286 +4.9% — — — —
Gross margin, % 11.39 10.34 12.47 14.10 20.70 18.62 7.58 3.45 8.76 10.77 7.63 (0.6) pt
EBT 93 87 104 124 175 164 60 24 90 127 88 +3.5%
EBT margin, % 11.38 10.33 12.46 14.09 20.65 18.56 7.47 2.62 8.02 10.02 6.80 (1.4) pt
Net income 65 62 83 100 138 131 47 19 71 99 69 +4.9%
Per share, $
Per share, $ Revenue 54.85 55.90 55.47 57.74 56.41 59.67 54.60 63.49 76.23 85.90 88.58 +5.1%
Earnings 4.29 4.13 5.48 6.52 9.25 8.85 3.17 1.28 4.79 6.75 4.65 +5.2%
Cash flow 6.61 5.47 8.47 7.40 7.30 9.54 3.03 3.55 8.76 13.22 12.42 +8.0%
Capex (0.33) 0.11 (0.29) (0.49) (0.27) (0.24) 0.06 (0.12) (0.30) (0.17) (0.32) (7.0%)
Free cash flow 6.28 5.57 8.18 6.91 7.02 9.29 3.09 3.43 8.46 13.05 12.10 +8.5%
Book value 44.88 46.70 47.66 53.18 58.97 62.52 55.59 54.85 56.39 60.65 60.37 +3.4%
Shares, m 15 15 15 15 15 15 15 15 15 15 15 (0.2%)
Valuation, ×
Valuation, × P/E 17.13 19.05 14.93 14.17 8.44 9.73 27.29 60.58 17.24 11.61 22.42 20.0
P/S 1.34 1.40 1.47 1.60 1.38 1.42 1.58 1.21 1.08 0.91 1.18 1.3
P/B 1.64 1.68 1.72 1.74 1.32 1.36 1.56 1.40 1.46 1.28 1.73 1.5
EV/Sales 1.32 1.35 1.43 1.59 1.35 1.39 1.60 1.20 1.08 0.91 — 1.3
EV/FCF 11.48 13.58 9.70 13.30 10.87 8.91 28.19 22.25 9.75 6.00 — 13.4
Cash, $m
Cash, $m Operating cash flow 99 82 128 112 109 141 44 52 129 194 180 +7.8%
Capex (5) 2 (4) (7) (4) (4) 1 (2) (4) (3) (5) (7.2%)
Free cash flow 94 84 123 105 105 138 45 50 124 192 176 +8.3%
Balance, $m
Balance, $m Working capital (708) (706) (725) (738) (708) (708) (716) (760) (860) (916) (936) +2.9%
Net debt (20) (42) (38) (15) (24) (34) 10 (8) (29) (24) (18) +2.0%
Shareholders’ equity 671 701 719 808 885 927 812 804 828 892 877 +3.2%
Returns, %
Returns, % ROA 3.71 3.50 4.51 5.11 6.78 6.27 2.27 0.93 3.24 4.19 2.82 +0.5 pt
ROIC 8.97 8.23 9.58 9.75 12.72 11.53 4.57 1.98 7.07 9.23 6.55 +0.3 pt
ROE 9.75 9.10 11.65 12.98 16.33 14.43 5.33 2.34 8.66 11.54 7.84 +1.8 pt
People
People Employees 643 623 627 609 586 552 538 539 551 568 — (1.4%)
Revenue/emp, $m 1.27 1.35 1.33 1.44 1.44 1.60 1.48 1.73 2.03 2.22 — +6.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Safety Insurance Group, 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
KMPR Kemper Corporation $2.1B — (loss-making) — (loss-making) −10.84% (below 0%: shrinking) n/m −76.71% (below 0%: shrinking) 0.17% (41.92%) Compare
HMN Horace Mann Educators Corporation $2.0B 12.1× 11.2× +0.16% (above 0%: growing) +0.73% (above 0%: growing) +70.37% (above 0%: growing) 50.05% 18.72% 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%
TRUP Trupanion, Inc. $1.5B 56.6× 50.0× +10.54% (above 0%: growing) +50.00% (above 0%: growing) +59.01% (above 0%: growing) 17.14% 0.00% Compare
STC Stewart Information Services Corporation $1.4B 12.2× 10.7× +13.02% (above 0%: growing) −36.77% (below 0%: shrinking) −12.37% (below 0%: shrinking) 64.58% 8.51% Compare
UVE UNIVERSAL INSURANCE HOLDINGS INC $1.4B 5.7× 7.5× +9.56% (above 0%: growing) +32.87% (above 0%: growing) +34.17% (above 0%: growing) 24.43% 16.44% Compare
UFCS United Fire Group, Inc $1.3B 9.0× 11.5× +10.62% (above 0%: growing) −10.07% (below 0%: shrinking) +67.57% (above 0%: growing) 33.79% 11.44% Compare
ASIC Ategrity Specialty Insurance Company Holdings $1.2B 12.0× 11.8× +8.18% (above 0%: growing) −36.17% (below 0%: shrinking) +80.75% (above 0%: growing) 0.00% 11.63% Compare
BOW Bowhead Specialty Holdings Inc. $1.1B 19.1× 17.0× +19.34% (above 0%: growing) −12.71% (below 0%: shrinking) +68.59% (above 0%: growing) 29.41% 13.72% Compare
Median of peers $1.4B 12.1× 11.5× +10.05% −10.07% +63.29% 26.92% 11.54%

All 46 Insurance Property & Casualty stocks →

Pay and ownership Proxy statement filed 31 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 4.19m 3.81m 125.00
2024 3.68m 3.27m 126.10
2023 1.96m 664.62k 111.30
2022 2.75m 2.52m 117.70
2021 3.24m 3.64m 114.10
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. Read the proxy statement

Safety Insurance Group, Inc. (SAFT) Latest News

4 Nov

Impact 4 · · Business Wire

5 Aug

Impact 3 ·

27 Jul

Impact 5 ·
Impact 4 · · TheStreet
Impact 3 ·

24 Jul

Impact 5 ·

23 Jul

Impact 5 ·

15 Jul

Impact 3 ·

6 May

Impact 3 · · Business Wire

25 Feb

Impact 4 · · Business Wire
Impact 3 ·

16 Feb

Impact 3 · · Simply Wall St.

20 Jan

Impact 4 · · Simply Wall St.

6 Jan

Impact 3 · · Simply Wall St.

15 Dec

Impact 4 · · Simply Wall St.

5 Dec

Impact 4 · · Insider Monkey

4 Dec

Impact 4 · · Simply Wall St.

14 Nov

Impact 4 · · Simply Wall St.

3 Nov

Impact 3 · · Associated Press Finance
Impact 3 · · Business Wire

16 Oct

Impact 4 · · Simply Wall St.

22 Sep

Impact 3 · · Simply Wall St.

2 Sep

Impact 3 ·

31 Aug

Impact 3 · · Simply Wall St.

10 Aug

Impact 3 ·

9 Aug

Impact 4 ·

6 Aug

Impact 4 · · Business Wire
Impact 3 · earnings

4 Aug

Impact 4 · · Simply Wall St.

22 Jul

Impact 4 · · Simply Wall St.
stockrow.com/SAFT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com