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 22.3×. 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 20 metrics below, Ategrity Specialty Insurance Company Holdings leads on 16 and Safety Insurance Group, Inc. on 4.

Valuation

Metric ASIC SAFT Insurance Property & Casualty median
P/E 12.29 22.26 10.29
P/S 2.52 1.17 1.17
P/B 1.94 1.71 1.83
Price to free cash flow 7.52 8.55 7.48
EV/EBITDA 8.82 16.19 7.49
EV/Sales 2.46 1.18 1.13
Earnings yield 8.14% 4.49% 9.50%
Free cash flow yield 13.29% 11.69% 13.29%

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% 17.59%
Return on equity 17.22% 7.84% 18.19%
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% 8.69%
EPS growth (last fiscal year) 7.33% 40.17% —
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 — 4.37% 2.79%
Payout ratio — 1.50 0.27

Size

Metric ASIC SAFT Insurance Property & Casualty median
Market cap 1.27b 1.52b 2.44b

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