Porch Group, Inc. (PRCH) vs Safety Insurance Group, Inc. (SAFT)

Porch Group, Inc. and Safety Insurance Group, Inc. are both Insurance Property & Casualty companies. Porch Group, Inc. is the larger, with a market value of $1.9B against $1.5B — 1.2× the size. Porch Group, Inc. has negative trailing earnings, so its P/E is not meaningful; Safety Insurance Group, Inc. trades at 22.3×. Porch Group, Inc. grew revenue faster over the last twelve months: 16.1% against 7.21%. Safety Insurance Group, Inc. has the higher net margin (5.33% vs −2.62%) and the lower return on invested capital (6.55% vs 7.07%). Across the 21 metrics below, Safety Insurance Group, Inc. leads on 12 and Porch Group, Inc. on 9.

Valuation

Metric PRCH SAFT Insurance Property & Casualty median
P/E n/m 22.26 10.29
P/S 3.58 1.17 1.17
P/B 94.82 1.71 1.83
Price to free cash flow 23.85 8.55 7.48
EV/EBITDA 31.45 16.19 7.49
EV/Sales 4.23 1.18 1.13
Earnings yield (1.80%) 4.49% 9.50%
Free cash flow yield 4.19% 11.69% 13.29%

Profitability

Metric PRCH SAFT Insurance Property & Casualty median
Gross margin 72.10% 7.63% 41.16%
Operating margin 7.88% 6.99% 15.09%
Net margin (2.62%) 5.33% 11.51%
Free cash flow margin 15.60% 13.66% 17.59%
Return on equity (156.54%) 7.84% 18.19%
Return on assets (1.69%) 2.82% 3.74%
Return on invested capital 7.07% 6.55% 12.06%

Growth

Metric PRCH SAFT Insurance Property & Casualty median
Revenue growth (TTM) 16.10% 7.21% 8.69%
EPS growth (last fiscal year) 90.90% 40.17% —
Revenue growth, 5-year CAGR 20.18% 8.35% 9.23%
Net income growth, 5-year CAGR 0.00% (6.41%) 10.09%

Health

Metric PRCH SAFT Insurance Property & Casualty median
Debt to equity 20.93 0.06 0.25
Current ratio 1.45 0.40 0.42
Net debt to EBITDA 5.36 (0.18) 0.08

Dividend

Metric PRCH SAFT Insurance Property & Casualty median
Dividend yield — 4.37% 2.79%
Payout ratio 0.00 1.50 0.27

Size

Metric PRCH SAFT Insurance Property & Casualty median
Market cap 1.87b 1.52b 2.44b

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