Horace Mann Educators Corporation (HMN) vs Safety Insurance Group, Inc. (SAFT)

Horace Mann Educators Corporation and Safety Insurance Group, Inc. are both Insurance Property & Casualty companies. Horace Mann Educators Corporation is the larger, with a market value of $1.9B against $1.5B — 1.2× the size. Horace Mann Educators Corporation trades at the lower P/E: 10.5× against 22.3×. Safety Insurance Group, Inc. grew revenue faster over the last twelve months: 7.21% against 5.88%. Horace Mann Educators Corporation has the higher net margin (10.2% vs 5.33%) and the higher return on invested capital (7.75% vs 6.55%). Both pay a dividend; Safety Insurance Group, Inc. yields more (4.37% vs 3.75%). Across the 23 metrics below, Horace Mann Educators Corporation leads on 15 and Safety Insurance Group, Inc. on 8.

Valuation

Metric HMN SAFT Insurance Property & Casualty median
P/E 10.52 22.26 10.29
P/S 1.06 1.17 1.17
P/B 1.23 1.71 1.83
Price to free cash flow 3.28 8.55 7.48
EV/EBITDA 9.43 16.19 7.49
EV/Sales 1.52 1.18 1.13
Earnings yield 9.50% 4.49% 9.50%
Free cash flow yield 30.52% 11.69% 13.29%

Profitability

Metric HMN SAFT Insurance Property & Casualty median
Gross margin 46.89% 7.63% 41.16%
Operating margin 14.57% 6.99% 15.09%
Net margin 10.15% 5.33% 11.51%
Free cash flow margin 32.42% 13.66% 17.59%
Return on equity 12.38% 7.84% 18.19%
Return on assets 1.17% 2.82% 3.74%
Return on invested capital 7.75% 6.55% 12.06%

Growth

Metric HMN SAFT Insurance Property & Casualty median
Revenue growth (TTM) 5.88% 7.21% 8.69%
EPS growth (last fiscal year) 57.26% 40.17% —
Revenue growth, 5-year CAGR 5.36% 8.35% 9.23%
Net income growth, 5-year CAGR 3.99% (6.41%) 10.09%

Health

Metric HMN SAFT Insurance Property & Casualty median
Debt to equity 0.40 0.06 0.25
Current ratio 0.06 0.40 0.42
Net debt to EBITDA 2.14 (0.18) 0.08

Dividend

Metric HMN SAFT Insurance Property & Casualty median
Dividend yield 3.75% 4.37% 2.79%
Payout ratio 0.95 1.50 0.27

Size

Metric HMN SAFT Insurance Property & Casualty median
Market cap 1.86b 1.52b 2.44b

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