NASDAQ : JRVR
James River Group Holdings, Inc. — Financial statements
Financials · Insurance - Specialty · United States
Last price 3.92 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 181.26M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 570.51M | 600.29M | 600.20M | 708.00M | 629.73M | 561.37M |
| Total Interest & Dividend Income | 84.52M | 83.44M | 93.09M | 84.05M | 43.19M | 31.99M |
| Gain (Loss) on Sale of Investments | -6.11M | -2.19M | 3.62M | 10.44M | -15.72M | 10.82M |
| Other Revenue | 4.29M | 6.08M | 10.72M | 7.32M | 4.31M | 4.86M |
| Total Revenue | 653.21M | 687.61M | 707.63M | 809.81M | 661.51M | 609.03M |
| Policy Benefits | 421.80M | 427.20M | 554.37M | 500.16M | 440.64M | 572.17M |
| Amortization of Goodwill & Intangibles | 363.00K | 363.00K | 363.00K | 363.00K | 363.00K | 363.00K |
| Selling, General & Administrative | 3.40M | 3.40M | 4.10M | 4.60M | 4.60M | 4.70M |
| Other Operating Expenses | 174.17M | 177.52M | 188.61M | 183.73M | 140.64M | 124.35M |
| Total Operating Expenses | 604.78M | 613.53M | 754.08M | 697.97M | 594.37M | 708.24M |
| Operating Income | 48.43M | 74.08M | -46.45M | 111.84M | 67.14M | -99.21M |
| Interest Expense | -23.39M | -23.54M | -24.67M | -24.63M | -13.87M | -8.92M |
| EBT Excluding Unusual Items | 25.03M | 50.54M | -71.12M | 87.21M | 53.27M | -108.13M |
| Gain (Loss) on Sale of Assets | 2.20M | |||||
| Asset Writedown | -2.50M | |||||
| Pretax Income | 25.03M | 50.54M | -71.12M | 86.91M | 53.27M | -108.13M |
| Income Tax Expense | -6.53M | 723.00K | -7.63M | 25.70M | 18.41M | -23.23M |
| Earnings From Continuing Ops. | 31.56M | 49.82M | -63.49M | 61.21M | 34.86M | -84.89M |
| Earnings From Discontinued Ops. | -988.00K | -2.39M | -17.63M | -168.89M | -3.88M | -87.90M |
| Net Income | 30.57M | 47.43M | -81.12M | -107.68M | 30.97M | -172.80M |
| Preferred Dividends & Other Adjustments | 7.88M | 7.88M | 37.15M | 10.50M | 8.75M | |
| Net Income to Common | 22.69M | 39.55M | -118.27M | -118.18M | 22.22M | -172.80M |
| Shares Outstanding (Basic) | 46.11M | 45.97M | 38.69M | 37.62M | 37.44M | 34.96M |
| Shares Outstanding (Diluted) | 59.90M | 60.01M | 38.69M | 37.81M | 37.65M | 34.96M |
| EPS (Basic) | 0.49 | 0.86 | -3.06 | -3.14 | 0.59 | -4.94 |
| EPS (Diluted) | 0.49 | 0.79 | -3.06 | -3.13 | 0.59 | -4.94 |
| Free Cash Flow | -2.31M | -23.59M | -251.97M | 81.52M | 214.51M | -919.85M |
| Free Cash Flow Per Share | -0.04 | -0.39 | -6.51 | 2.16 | 5.70 | -26.31 |
| Dividend Per Share | 0.04 | 0.04 | 0.16 | 0.20 | 0.20 | 1.20 |
| Operating Margin | 7.41% | 10.77% | -6.57% | 13.81% | 10.15% | -16.29% |
| Profit Margin | 3.47% | 5.75% | -16.71% | -14.59% | 3.36% | -28.37% |
| Free Cash Flow Margin | -0.35% | -3.43% | -35.61% | 10.07% | 32.43% | -151.03% |
| EBITDA | 48.79M | 74.44M | -46.09M | 112.20M | 68.19M | -94.49M |
| EBITDA Margin | 7.47% | 10.83% | -6.51% | 13.86% | 10.31% | -15.52% |
| D&A For EBITDA | 362.67K | 362.67K | 362.67K | 362.67K | 1.05M | 4.71M |
| EBIT | 48.43M | 74.08M | -46.45M | 111.84M | 67.14M | -99.21M |
| EBIT Margin | 7.41% | 10.77% | -6.57% | 13.81% | 10.15% | -16.29% |
| Effective Tax Rate | 1.43% | 29.58% | 34.57% | |||
| Revenue as Reported | 653.21M | 687.61M | 707.63M | 812.01M | 661.51M | 609.03M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 1.49B | 1.45B | 1.20B | 1.34B | 1.18B | 1.68B |
| Investments in Equity & Preferred Securities | 95.75M | 93.84M | 109.28M | 140.91M | 135.40M | 150.58M |
| Other Investments | 4.04M | 97.07M | 72.14M | 95.35M | 141.06M | |
| Total Investments | 1.59B | 1.54B | 1.41B | 1.55B | 1.41B | 1.97B |
| Cash & Equivalents | 195.58M | 260.94M | 362.35M | 274.30M | 159.20M | 190.12M |
| Reinsurance Recoverable | 2.11B | 2.14B | 2.10B | 1.52B | 1.37B | 1.43B |
| Other Receivables | 309.02M | 321.52M | 419.14M | 417.99M | 303.99M | 564.38M |
| Deferred Policy Acquisition Cost | 31.37M | 31.29M | 30.18M | 31.50M | 32.84M | 68.53M |
| Property, Plant & Equipment | 28.74M | 25.07M | 24.80M | 9.45M | 12.48M | |
| Goodwill | 181.83M | 181.83M | 181.83M | 181.83M | 181.83M | 181.83M |
| Other Intangible Assets | 31.91M | 32.09M | 32.45M | 32.81M | 35.68M | 36.04M |
| Restricted Cash | 8.63M | 8.48M | 28.70M | 72.45M | 103.22M | 102.00M |
| Other Current Assets | 180.08M | 203.95M | 296.63M | 1.08B | 1.42B | 291.50M |
| Long-Term Deferred Tax Assets | 64.90M | 61.17M | 48.30M | 48.84M | 26.43M | |
| Other Long-Term Assets | 136.56M | 39.83M | 61.44M | 90.62M | 63.68M | 69.93M |
| Total Assets | 4.77B | 4.86B | 5.01B | 5.32B | 5.14B | 4.95B |
| Accrued Expenses | 20.23M | 31.01M | 53.18M | 56.72M | 56.88M | 57.92M |
| Insurance & Annuity Liabilities | 3.09B | 3.10B | 3.08B | 2.61B | 2.34B | 2.75B |
| Unearned Premiums | 417.64M | 447.64M | 572.03M | 587.90M | 578.20M | 727.55M |
| Reinsurance Payable | 155.40M | 155.18M | 190.89M | 179.40M | 138.86M | 135.62M |
| Current Portion of Leases | 2.01M | |||||
| Current Income Taxes Payable | 13.57M | 13.90M | ||||
| Long-Term Debt | 329.86M | 329.86M | 304.86M | 326.36M | 326.36M | 366.36M |
| Long-Term Leases | 5.01M | 5.60M | 8.00M | 9.00M | 12.80M | |
| Other Current Liabilities | 7.49M | 7.49M | 25.16M | 706.73M | 848.65M | 97.36M |
| Other Long-Term Liabilities | 96.70M | 97.48M | 176.92M | 166.51M | 125.60M | 77.11M |
| Total Liabilities | 4.12B | 4.19B | 4.41B | 4.64B | 4.44B | 4.22B |
| Preferred Stock, Convertible | 133.12M | 133.12M | 133.12M | 144.90M | 144.90M | |
| Common Stock | 9.00K | 9.00K | 9.00K | 7.00K | 7.00K | 7.00K |
| Additional Paid-In Capital | 939.61M | 937.61M | 933.31M | 876.24M | 868.86M | 862.04M |
| Retained Earnings | -372.16M | -364.73M | -402.41M | -277.90M | -152.06M | -166.66M |
| Comprehensive Income & Other | -44.86M | -34.74M | -70.00M | -63.72M | -163.04M | 29.98M |
| Total Common Equity | 522.60M | 538.15M | 460.92M | 534.62M | 553.77M | 725.36M |
| Shareholders' Equity | 655.72M | 671.27M | 594.03M | 679.52M | 698.66M | 725.36M |
| Total Liabilities & Equity | 4.77B | 4.86B | 5.01B | 5.32B | 5.14B | 4.95B |
| Filing Date Shares Outstanding | 46.24M | 45.97M | 45.64M | 37.66M | 37.52M | 37.45M |
| Total Common Shares Outstanding | 46.24M | 45.97M | 45.64M | 37.64M | 37.47M | 37.37M |
| Total Debt | 329.86M | 336.88M | 310.45M | 334.36M | 335.36M | 379.15M |
| Net Cash (Debt) | -134.28M | -75.93M | 51.89M | -60.06M | -176.16M | -189.03M |
| Net Cash Per Share | -2.24 | -1.27 | 1.34 | -1.59 | -4.68 | -5.41 |
| Book Value Per Share | 11.30 | 11.71 | 10.10 | 14.20 | 14.78 | 19.41 |
| Tangible Book Value | 308.87M | 324.24M | 246.63M | 319.98M | 336.26M | 507.49M |
| Tangible Book Value Per Share | 6.68 | 7.05 | 5.40 | 8.50 | 8.97 | 13.58 |
| Machinery | 31.04M | 26.66M | 21.83M | 5.03M | 4.71M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 30.57M | 47.43M | -81.12M | -107.68M | 30.97M | -172.80M |
| Depreciation & Amortization | -717.00K | -717.00K | -709.00K | -475.00K | 1.05M | 4.71M |
| Other Amortization | 65.44M | 65.44M | 69.26M | 96.45M | 88.57M | 69.66M |
| Gain (Loss) on Sale of Investments | 2.19M | 2.19M | 6.99M | 43.25M | 28.32M | -15.56M |
| Stock-Based Compensation | 5.04M | 5.04M | 6.63M | 9.12M | 8.12M | 6.66M |
| Change in Accounts Receivable | 90.24M | 90.24M | 15.37M | 22.59M | 53.44M | -46.87M |
| Reinsurance Recoverable | 10.74M | 10.74M | -552.55M | -66.27M | 96.31M | -601.63M |
| Change in Unearned Revenue | -124.39M | -124.39M | -24.24M | -70.89M | -51.54M | 97.18M |
| Change in Insurance Reserves / Liabilities | 15.01M | 15.01M | 453.15M | 278.78M | 20.52M | 556.39M |
| Change in Other Net Operating Assets | -53.54M | -53.54M | -54.52M | -118.25M | 22.32M | -719.25M |
| Other Operating Activities | -42.26M | -79.65M | -76.78M | -79.31M | -75.02M | -95.64M |
| Operating Cash Flow | 1.75M | -18.79M | -247.09M | 87.95M | 222.73M | -913.55M |
| Capital Expenditures | -4.06M | -4.80M | -4.89M | -6.43M | -8.22M | -6.30M |
| Investment in Securities | -23.78M | -88.02M | 204.59M | 12.63M | -298.26M | 41.78M |
| Other Investing Activities | -5.85M | -8.47M | 96.24M | 3.50M | -6.68M | 1.63M |
| Investing Cash Flow | -36.18M | -116.04M | 307.03M | 16.73M | -328.15M | 35.82M |
| Long-Term Debt Issued | 25.00M | |||||
| Total Debt Repaid | -21.50M | -40.00M | ||||
| Net Debt Issued (Repaid) | 25.00M | -21.50M | -40.00M | |||
| Issuance of Common Stock | 12.50M | 193.98M | ||||
| Repurchases of Common Stock | -872.00K | -745.00K | -847.00K | -1.73M | -1.30M | -3.08M |
| Issuance of Preferred Stock | 144.90M | |||||
| Common Dividends Paid | -1.92M | -2.00M | -6.23M | -7.75M | -7.80M | -43.24M |
| Preferred Dividends Paid | -7.88M | -7.88M | -12.77M | -10.50M | -6.12M | |
| Total Dividends Paid | -9.80M | -9.87M | -19.00M | -18.25M | -13.92M | -43.24M |
| Other Financing Activities | -49.00K | -1.18M | -1.14M | |||
| Financing Cash Flow | -10.72M | 13.20M | -28.85M | -21.11M | 89.67M | 147.67M |
| Net Cash Flow | -45.15M | -121.63M | 31.10M | 83.57M | -15.75M | -730.05M |
| Free Cash Flow | -2.31M | -23.59M | -251.97M | 81.52M | 214.51M | -919.85M |
| Free Cash Flow Margin | -0.35% | -3.43% | -35.61% | 10.07% | 32.43% | -151.03% |
| Free Cash Flow Per Share | -0.04 | -0.39 | -6.51 | 2.16 | 5.70 | -26.31 |
| Levered Free Cash Flow | 191.27M | 1.02B | -461.55M | 285.44M | -127.25M | -529.64M |
| Unlevered Free Cash Flow | 205.89M | 1.04B | -446.13M | 300.83M | -118.58M | -524.06M |
| Cash Interest Paid | 26.21M | 25.69M | 28.74M | 30.70M | 17.43M | 9.93M |
| Cash Income Tax Paid | -21.49M | 25.65M | 45.70M | -3.47M | -3.93M | |
| Change in Working Capital | -61.93M | -61.93M | -166.17M | 48.09M | 138.29M | -711.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 183.57M | 292.34M | 184.23M | 347.79M | 783.29M | 1.07B |
| Enterprise Value | 317.85M | 516.56M | 274.21M | 586.12M | 1.07B | 1.22B |
| PE Ratio | 8.07 | 7.39 | 35.25 | |||
| PS Ratio | 0.28 | 0.42 | 0.26 | 0.43 | 1.18 | 1.76 |
| PB Ratio | 0.34 | 0.44 | 0.31 | 0.51 | 1.12 | 1.48 |
| P/FCF Ratio | 4.27 | 3.65 | ||||
| P/OCF Ratio | 106.09 | 3.95 | 3.52 | |||
| EV/Sales Ratio | 0.49 | 0.75 | 0.39 | 0.72 | 1.61 | 2.00 |
| EV/EBITDA Ratio | 6.56 | 6.94 | 5.22 | 15.65 | ||
| EV/EBIT Ratio | 6.61 | 6.97 | 5.24 | 15.89 | ||
| EV/FCF Ratio | 7.19 | 4.97 | ||||
| Debt / Equity Ratio | 0.50 | 0.50 | 0.52 | 0.49 | 0.48 | 0.52 |
| Debt / EBITDA Ratio | 6.32 | 4.33 | 2.86 | 4.61 | ||
| Debt / FCF Ratio | 4.10 | 1.56 | ||||
| Net Debt / Equity Ratio | 0.20 | 0.11 | -0.09 | 0.09 | 0.25 | 0.26 |
| Net Debt / EBITDA Ratio | 2.75 | 1.02 | 1.13 | 0.54 | 2.58 | -2.00 |
| Net Debt / FCF Ratio | -58.10 | -3.22 | 0.21 | 0.74 | 0.82 | -0.21 |
| Quick Ratio | 0.56 | 0.28 | 0.86 | 0.39 | 0.30 | 0.71 |
| Current Ratio | 4.41 | 1.86 | 3.76 | 2.14 | 2.08 | 2.51 |
| Asset Turnover | 0.13 | 0.14 | 0.14 | 0.15 | 0.13 | 0.12 |
| Return on Equity (ROE) | 4.93% | 7.88% | -9.97% | 8.88% | 4.90% | -11.16% |
| Return on Assets (ROA) | 0.62% | 0.94% | -0.56% | 1.34% | 0.83% | -1.24% |
| Return on Invested Capital (ROIC) | 4.92% | 7.64% | -4.84% | 7.69% | 4.11% | -8.70% |
| Earnings Yield | 12.40% | 16.22% | -44.03% | -30.96% | 3.95% | -16.08% |
| FCF Yield | -1.24% | -8.07% | -136.77% | 23.44% | 27.39% | -85.62% |
| Dividend Yield | 1.01% | 0.63% | 3.96% | 2.17% | 0.96% | 4.17% |
| Payout Ratio | 8.13% | 20.82% | 44.95% | |||
| Buyback Yield / Dilution | -40.14% | -55.13% | -2.31% | -0.42% | -7.71% | -13.19% |
| Total Shareholder Return | -39.15% | -54.51% | 1.65% | 1.74% | -6.75% | -9.01% |