Ategrity Specialty Insurance Company Holdings (ASIC) vs Safety Insurance Group, Inc. (SAFT)

Ategrity Specialty Insurance Company Holdings and Safety Insurance Group, Inc. are both Insurance Property & Casualty companies. Safety Insurance Group, Inc. is the larger, with a market value of $1.5B against $1.3B — 1.2× the size. Ategrity Specialty Insurance Company Holdings trades at the lower P/E: 12.3× against 22.4×. Ategrity Specialty Insurance Company Holdings grew revenue faster over the last twelve months: 36.6% against 7.21%. Ategrity Specialty Insurance Company Holdings has the higher net margin (20.5% vs 5.33%) and the higher return on invested capital (14.1% vs 6.55%). Across the 18 metrics below, Ategrity Specialty Insurance Company Holdings leads on 15 and Safety Insurance Group, Inc. on 3.

Valuation

Metric ASIC SAFT Insurance Property & Casualty median
P/E 12.33 22.37 10.75
P/S 2.53 1.17 1.21
P/B 1.95 1.72 1.99
Price to free cash flow 7.55 8.60 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.11% 4.47% 9.08%
Free cash flow yield 13.24% 11.63% 12.11%

Profitability

Metric ASIC SAFT Insurance Property & Casualty median
Gross margin 28.38% 7.63% 41.16%
Operating margin 27.87% 6.99% 15.09%
Net margin 20.50% 5.33% 11.51%
Free cash flow margin 33.51% 13.66% 17.46%
Return on equity 17.22% 7.84% 17.34%
Return on assets 7.00% 2.82% 3.74%
Return on invested capital 14.08% 6.55% 12.06%

Growth

Metric ASIC SAFT Insurance Property & Casualty median
Revenue growth (TTM) 36.63% 7.21% 8.02%
EPS growth (last fiscal year) 7.33% 40.17% 39.61%
Revenue growth, 5-year CAGR — 8.35% 9.23%
Net income growth, 5-year CAGR — (6.41%) 10.09%

Health

Metric ASIC SAFT Insurance Property & Casualty median
Debt to equity 0.00 0.06 0.25
Current ratio 0.53 0.40 0.42
Net debt to EBITDA (0.30) (0.18) 0.08

Dividend

Metric ASIC SAFT Insurance Property & Casualty median
Dividend yield — 3.54% 1.50%
Payout ratio — 0.79 0.14

Size

Metric ASIC SAFT Insurance Property & Casualty median
Market cap 1.29b 1.53b 2.67b

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