Porch Group, Inc. (PRCH) vs Slide Insurance Holdings, Inc. (SLDE)

Porch Group, Inc. and Slide Insurance Holdings, Inc. are both Insurance Property & Casualty companies. Slide Insurance Holdings, Inc. is the larger, with a market value of $3.1B against $2.0B — 1.6× the size. Porch Group, Inc. has negative trailing earnings, so its P/E is not meaningful; Slide Insurance Holdings, Inc. trades at 5.9×. Slide Insurance Holdings, Inc. grew revenue faster over the last twelve months: 45.8% against 16.1%. Slide Insurance Holdings, Inc. has the higher net margin (40.0% vs −2.62%) and the lower return on invested capital (0.00% vs 7.07%). Across the 17 metrics below, Slide Insurance Holdings, Inc. leads on 14 and Porch Group, Inc. on 3.

Valuation

Metric PRCH SLDE Insurance Property & Casualty median
P/E n/m 5.92 10.75
P/S 3.79 2.25 1.21
P/B 100.38 2.61 1.99
Price to free cash flow 25.25 3.02 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (1.70%) 16.88% 9.08%
Free cash flow yield 3.96% 33.12% 12.11%

Profitability

Metric PRCH SLDE Insurance Property & Casualty median
Gross margin 72.10% 67.94% 41.16%
Operating margin 7.88% 53.05% 15.09%
Net margin (2.62%) 40.02% 11.51%
Free cash flow margin 15.60% 74.49% 17.46%
Return on equity (156.54%) 53.88% 17.34%
Return on assets (1.69%) 17.33% 3.74%
Return on invested capital 7.07% 0.00% 12.06%

Growth

Metric PRCH SLDE Insurance Property & Casualty median
Revenue growth (TTM) 16.10% 45.82% 8.02%
EPS growth (last fiscal year) 90.90% 102.37% 39.61%
Revenue growth, 5-year CAGR 46.17% — 9.23%
Net income growth, 5-year CAGR 0.00% — 10.09%

Health

Metric PRCH SLDE Insurance Property & Casualty median
Debt to equity 20.93 0.02 0.25
Current ratio 1.45 1.22 0.42
Net debt to EBITDA 5.36 (2.73) 0.08

Dividend

Metric PRCH SLDE Insurance Property & Casualty median
Dividend yield — 0.26% 1.50%
Payout ratio — 0.02 0.14

Size

Metric PRCH SLDE Insurance Property & Casualty median
Market cap 1.99b 3.10b 2.67b

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