Hagerty, Inc. (HGTY) vs White Mountains Insurance Group, Ltd. (WTM)

Hagerty, Inc. and White Mountains Insurance Group, Ltd. are both Insurance Property & Casualty companies. Hagerty, Inc. and White Mountains Insurance Group, Ltd. are of similar size ($5.3B and $5.1B). White Mountains Insurance Group, Ltd. trades at the lower P/E: 4.9× against 95.6×. White Mountains Insurance Group, Ltd. grew revenue faster over the last twelve months: 55.5% against 3.75%. White Mountains Insurance Group, Ltd. has the higher net margin (29.3% vs 1.25%) and the higher return on invested capital (13.4% vs 0.00%). Across the 20 metrics below, White Mountains Insurance Group, Ltd. leads on 12 and Hagerty, Inc. on 8.

Valuation

Metric HGTY WTM Insurance Property & Casualty median
P/E 95.63 4.92 10.75
P/S 1.10 1.36 1.21
P/B 2.40 0.85 1.99
Price to free cash flow 5.59 13.43 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 1.05% 20.35% 9.08%
Free cash flow yield 17.88% 7.45% 12.11%

Profitability

Metric HGTY WTM Insurance Property & Casualty median
Gross margin 100.00% 59.35% 41.16%
Operating margin 13.39% 40.83% 15.09%
Net margin 1.25% 29.29% 11.51%
Free cash flow margin 19.68% 10.13% 17.46%
Return on equity 2.88% 19.58% 17.34%
Return on assets 0.84% 8.77% 3.74%
Return on invested capital 0.00% 13.42% 12.06%

Growth

Metric HGTY WTM Insurance Property & Casualty median
Revenue growth (TTM) 3.75% 55.45% 8.02%
EPS growth (last fiscal year) 270.00% 379.05% 39.61%
Revenue growth, 5-year CAGR 23.86% 33.06% 9.23%
Net income growth, 5-year CAGR 32.47% 9.32% 10.09%

Health

Metric HGTY WTM Insurance Property & Casualty median
Debt to equity 0.40 0.15 0.25
Current ratio 1.53 0.56 0.42
Net debt to EBITDA (3.42) 0.41 0.08

Dividend

Metric HGTY WTM Insurance Property & Casualty median
Dividend yield — 0.05% 1.50%
Payout ratio — 0.00 0.14

Size

Metric HGTY WTM Insurance Property & Casualty median
Market cap 5.26b 5.12b 2.67b

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