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. is the larger, with a market value of $6.3B against $5.5B — 1.2× the size. White Mountains Insurance Group, Ltd. trades at the lower P/E: 6.0× against 57.0×. White Mountains Insurance Group, Ltd. grew revenue faster over the last twelve months: 44.9% against −3.77%. White Mountains Insurance Group, Ltd. has the higher net margin (26.9% vs 0.52%) and the higher return on invested capital (0.00% vs 0.00%). Across the 19 metrics below, White Mountains Insurance Group, Ltd. leads on 10 and Hagerty, Inc. on 9.

Valuation

Metric HGTY WTM Insurance Property & Casualty median
P/E 57.02 6.04 12.17
P/S 1.41 1.49 1.26
P/B 2.93 0.88 1.85
Price to free cash flow 6.96 13.97 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 1.75% 16.55% 8.20%
Free cash flow yield 14.36% 7.16% 11.86%

Profitability

Metric HGTY WTM Insurance Property & Casualty median
Gross margin 100.00% 0.00% 37.39%
Operating margin 18.23% 0.00% 14.67%
Net margin 0.52% 26.86% 10.16%
Free cash flow margin 20.29% 10.69% 18.60%
Return on equity 1.10% 16.59% 16.59%
Return on assets 0.32% 7.54% 3.38%
Return on invested capital 0.00% 0.00% 9.43%

Growth

Metric HGTY WTM Insurance Property & Casualty median
Revenue growth (TTM) (3.77%) 44.92% 5.70%
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 0.41 0.15 0.25
Current ratio 1.59 0.56 0.49
Net debt to EBITDA (3.42) 0.41 0.08

Dividend

Metric HGTY WTM Insurance Property & Casualty median
Dividend yield — 0.04% 1.56%
Payout ratio — 0.00 0.15

Size

Metric HGTY WTM Insurance Property & Casualty median
Market cap 6.31b 5.48b 2.64b

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