Horace Mann Educators Corporation (HMN) vs Skyward Specialty Insurance Group, Inc. (SKWD)

Horace Mann Educators Corporation and Skyward Specialty Insurance Group, Inc. are both Insurance Property & Casualty companies. Skyward Specialty Insurance Group, Inc. is the larger, with a market value of $2.7B against $1.9B — 1.4× the size. Horace Mann Educators Corporation trades at the lower P/E: 10.7× against 13.8×. Skyward Specialty Insurance Group, Inc. grew revenue faster over the last twelve months: 38.3% against 5.88%. Skyward Specialty Insurance Group, Inc. has the higher net margin (10.8% vs 10.2%) and the higher return on invested capital (10.9% vs 7.75%). Across the 18 metrics below, Horace Mann Educators Corporation leads on 9 and Skyward Specialty Insurance Group, Inc. on 9.

Valuation

Metric HMN SKWD Insurance Property & Casualty median
P/E 10.75 13.81 10.75
P/S 1.09 1.57 1.21
P/B 1.26 2.14 1.99
Price to free cash flow 3.35 6.83 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.30% 7.24% 9.08%
Free cash flow yield 29.87% 14.65% 12.11%

Profitability

Metric HMN SKWD Insurance Property & Casualty median
Gross margin 46.89% 44.14% 41.16%
Operating margin 14.57% 15.09% 15.09%
Net margin 10.15% 10.84% 11.51%
Free cash flow margin 32.42% 23.20% 17.46%
Return on equity 12.38% 17.34% 17.34%
Return on assets 1.17% 3.38% 3.74%
Return on invested capital 7.75% 10.89% 12.06%

Growth

Metric HMN SKWD Insurance Property & Casualty median
Revenue growth (TTM) 5.88% 38.27% 8.02%
EPS growth (last fiscal year) 57.26% 41.81% 39.61%
Revenue growth, 5-year CAGR 5.36% — 9.23%
Net income growth, 5-year CAGR 3.99% — 10.09%

Health

Metric HMN SKWD Insurance Property & Casualty median
Debt to equity 0.40 0.33 0.25
Current ratio 0.06 0.52 0.42
Net debt to EBITDA 2.14 (0.43) 0.08

Dividend

Metric HMN SKWD Insurance Property & Casualty median
Dividend yield 3.09% — 1.50%
Payout ratio 0.33 — 0.14

Size

Metric HMN SKWD Insurance Property & Casualty median
Market cap 1.86b 2.67b 2.67b

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