Ategrity Specialty Insurance Company Holdings (ASIC) vs Horace Mann Educators Corporation (HMN)

Ategrity Specialty Insurance Company Holdings and Horace Mann Educators Corporation are both Insurance Property & Casualty companies. Horace Mann Educators Corporation is the larger, with a market value of $1.9B against $1.3B — 1.5× the size. Horace Mann Educators Corporation trades at the lower P/E: 10.5× against 12.3×. Ategrity Specialty Insurance Company Holdings grew revenue faster over the last twelve months: 36.6% against 5.88%. Ategrity Specialty Insurance Company Holdings has the higher net margin (20.5% vs 10.2%) and the higher return on invested capital (14.1% vs 7.75%). Across the 20 metrics below, Ategrity Specialty Insurance Company Holdings leads on 11 and Horace Mann Educators Corporation on 9.

Valuation

Metric ASIC HMN Insurance Property & Casualty median
P/E 12.29 10.52 10.29
P/S 2.52 1.06 1.17
P/B 1.94 1.23 1.83
Price to free cash flow 7.52 3.28 7.48
EV/EBITDA 8.82 9.43 7.49
EV/Sales 2.46 1.52 1.13
Earnings yield 8.14% 9.50% 9.50%
Free cash flow yield 13.29% 30.52% 13.29%

Profitability

Metric ASIC HMN Insurance Property & Casualty median
Gross margin 28.38% 46.89% 41.16%
Operating margin 27.87% 14.57% 15.09%
Net margin 20.50% 10.15% 11.51%
Free cash flow margin 33.51% 32.42% 17.59%
Return on equity 17.22% 12.38% 18.19%
Return on assets 7.00% 1.17% 3.74%
Return on invested capital 14.08% 7.75% 12.06%

Growth

Metric ASIC HMN Insurance Property & Casualty median
Revenue growth (TTM) 36.63% 5.88% 8.69%
EPS growth (last fiscal year) 7.33% 57.26% —
Revenue growth, 5-year CAGR — 5.36% 9.23%
Net income growth, 5-year CAGR — 3.99% 10.09%

Health

Metric ASIC HMN Insurance Property & Casualty median
Debt to equity 0.00 0.40 0.25
Current ratio 0.53 0.06 0.42
Net debt to EBITDA (0.30) 2.14 0.08

Dividend

Metric ASIC HMN Insurance Property & Casualty median
Dividend yield — 3.75% 2.79%
Payout ratio — 0.95 0.27

Size

Metric ASIC HMN Insurance Property & Casualty median
Market cap 1.27b 1.86b 2.44b

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