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Hagerty, Inc. (HGTY) vs Palomar Holdings, Inc. (PLMR)

Hagerty, Inc. and Palomar Holdings, Inc. are both Insurance Property & Casualty companies. Hagerty, Inc. is the larger, with a market value of $6.3B against $4.1B — 1.5× the size. Palomar Holdings, Inc. trades at the lower P/E: 20.2× against 57.0×. Palomar Holdings, Inc. grew revenue faster over the last twelve months: 60.0% against −3.77%. Palomar Holdings, Inc. has the higher net margin (18.6% vs 0.52%) and the higher return on invested capital (13.5% vs 0.00%). Across the 20 metrics below, Palomar Holdings, Inc. leads on 12 and Hagerty, Inc. on 8.

Valuation

Metric HGTY PLMR Insurance Property & Casualty median
P/E 57.02 20.18 12.17
P/S 1.41 3.74 1.26
P/B 2.93 4.16 1.85
Price to free cash flow 6.96 9.99 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 1.75% 4.95% 8.20%
Free cash flow yield 14.36% 10.01% 11.86%

Profitability

Metric HGTY PLMR Insurance Property & Casualty median
Gross margin 100.00% 24.87% 37.39%
Operating margin 18.23% 24.87% 14.67%
Net margin 0.52% 18.61% 10.16%
Free cash flow margin 20.29% 37.41% 18.60%
Return on equity 1.10% 22.23% 16.59%
Return on assets 0.32% 5.98% 3.38%
Return on invested capital 0.00% 13.54% 9.43%

Growth

Metric HGTY PLMR Insurance Property & Casualty median
Revenue growth (TTM) (3.77%) 59.98% 5.70%
EPS growth (last fiscal year) 270.00% 60.04% 39.61%
Revenue growth, 5-year CAGR 23.86% 39.06% 9.23%
Net income growth, 5-year CAGR 32.47% 99.37% 10.09%

Health

Metric HGTY PLMR Insurance Property & Casualty median
Debt to equity 0.41 0.30 0.25
Current ratio 1.59 0.50 0.49
Net debt to EBITDA (3.42) (0.41) 0.08

Dividend

Metric HGTY PLMR Insurance Property & Casualty median
Dividend yield — 0.29% 1.56%
Payout ratio — 0.06 0.15

Size

Metric HGTY PLMR Insurance Property & Casualty median
Market cap 6.31b 4.10b 2.64b

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