Ategrity Specialty Insurance Company Holdings (ASIC) vs Heritage Insurance Holdings, Inc. (HRTG)

Ategrity Specialty Insurance Company Holdings and Heritage Insurance Holdings, Inc. are both Insurance Property & Casualty companies. Ategrity Specialty Insurance Company Holdings is the larger, with a market value of $1.3B against $986.5M — 1.3× the size. Heritage Insurance Holdings, Inc. trades at the lower P/E: 4.7× against 12.3×. Ategrity Specialty Insurance Company Holdings grew revenue faster over the last twelve months: 36.6% against 1.54%. Heritage Insurance Holdings, Inc. has the higher net margin (25.2% vs 20.5%) and the higher return on invested capital (489.1% vs 14.1%). Across the 20 metrics below, Heritage Insurance Holdings, Inc. leads on 18 and Ategrity Specialty Insurance Company Holdings on 2.

Valuation

Metric ASIC HRTG Insurance Property & Casualty median
P/E 12.29 4.73 10.29
P/S 2.52 1.17 1.17
P/B 1.94 1.76 1.83
Price to free cash flow 7.52 3.32 7.48
EV/EBITDA 8.82 1.53 7.49
EV/Sales 2.46 0.55 1.13
Earnings yield 8.14% 21.16% 9.50%
Free cash flow yield 13.29% 30.13% 13.29%

Profitability

Metric ASIC HRTG Insurance Property & Casualty median
Gross margin 28.38% 45.39% 41.16%
Operating margin 27.87% 34.46% 15.09%
Net margin 20.50% 25.19% 11.51%
Free cash flow margin 33.51% 35.21% 17.59%
Return on equity 17.22% 45.27% 18.19%
Return on assets 7.00% 8.63% 3.74%
Return on invested capital 14.08% 489.08% 12.06%

Growth

Metric ASIC HRTG Insurance Property & Casualty median
Revenue growth (TTM) 36.63% 1.54% 8.69%
EPS growth (last fiscal year) 7.33% 214.43% —
Revenue growth, 5-year CAGR — 7.38% 9.23%
Net income growth, 5-year CAGR — 83.79% 10.09%

Health

Metric ASIC HRTG Insurance Property & Casualty median
Debt to equity 0.00 0.13 0.25
Current ratio 0.53 0.83 0.42
Net debt to EBITDA (0.30) (1.77) 0.08

Dividend

Metric ASIC HRTG Insurance Property & Casualty median
Dividend yield — 16.22% 2.79%
Payout ratio — 0.00 0.27

Size

Metric ASIC HRTG Insurance Property & Casualty median
Market cap 1.27b 986.52m 2.44b

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