Ategrity Specialty Insurance Company Holdings (ASIC) vs UNIVERSAL INSURANCE HOLDINGS INC (UVE)

Ategrity Specialty Insurance Company Holdings and UNIVERSAL INSURANCE HOLDINGS INC are both Insurance Property & Casualty companies. Ategrity Specialty Insurance Company Holdings and UNIVERSAL INSURANCE HOLDINGS INC are of similar size ($1.3B and $1.2B). UNIVERSAL INSURANCE HOLDINGS INC trades at the lower P/E: 5.4× against 12.3×. Ategrity Specialty Insurance Company Holdings grew revenue faster over the last twelve months: 36.6% against 3.96%. Ategrity Specialty Insurance Company Holdings has the higher net margin (20.5% vs 13.5%) and the lower return on invested capital (14.1% vs 139.4%). Across the 20 metrics below, UNIVERSAL INSURANCE HOLDINGS INC leads on 13 and Ategrity Specialty Insurance Company Holdings on 7.

Valuation

Metric ASIC UVE Insurance Property & Casualty median
P/E 12.29 5.40 10.29
P/S 2.52 0.71 1.17
P/B 1.94 1.83 1.83
Price to free cash flow 7.52 3.43 7.48
EV/EBITDA 8.82 2.23 7.49
EV/Sales 2.46 0.41 1.13
Earnings yield 8.14% 18.53% 9.50%
Free cash flow yield 13.29% 29.19% 13.29%

Profitability

Metric ASIC UVE Insurance Property & Casualty median
Gross margin 28.38% 25.87% 41.16%
Operating margin 27.87% 18.37% 15.09%
Net margin 20.50% 13.49% 11.51%
Free cash flow margin 33.51% 20.85% 17.59%
Return on equity 17.22% 40.16% 18.19%
Return on assets 7.00% 6.68% 3.74%
Return on invested capital 14.08% 139.39% 12.06%

Growth

Metric ASIC UVE Insurance Property & Casualty median
Revenue growth (TTM) 36.63% 3.96% 8.69%
EPS growth (last fiscal year) 7.33% 214.43% —
Revenue growth, 5-year CAGR — 8.38% 9.23%
Net income growth, 5-year CAGR — 57.14% 10.09%

Health

Metric ASIC UVE Insurance Property & Casualty median
Debt to equity 0.00 0.15 0.25
Current ratio 0.53 0.57 0.42
Net debt to EBITDA (0.30) (1.47) 0.08

Dividend

Metric ASIC UVE Insurance Property & Casualty median
Dividend yield — 4.00% 2.79%
Payout ratio — 3.20 0.27

Size

Metric ASIC UVE Insurance Property & Casualty median
Market cap 1.27b 1.18b 2.44b

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