NASDAQ : TIPT
Tiptree Inc. — Financial statements
Financials · Insurance - Specialty · United States
Last price 17.04 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 620.69M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 904.76M | 685.55M | ||||
| Total Interest & Dividend Income | 12.22M | 17.90M | ||||
| Gain (Loss) on Sale of Investments | -1.34M | -1.52M | -905.00K | -5.29M | -28.98M | 8.60M |
| Other Revenue | 3.00K | 488.00K | 1.52M | 2.12M | 474.94M | 488.47M |
| Total Revenue | -1.34M | -1.03M | 615.00K | -3.17M | 1.36B | 1.20B |
| Policy Benefits | 452.61M | 327.01M | ||||
| Policy Acquisition & Underwriting Costs | 522.69M | 396.68M | ||||
| Depreciation & Amortization | 1.45M | 1.45M | 1.45M | 1.43M | 22.97M | 24.44M |
| Selling, General & Administrative | 5.63M | 11.05M | 8.41M | 5.82M | 26.85M | 27.67M |
| Other Operating Expenses | 7.75M | 11.92M | 11.18M | 13.46M | 114.94M | 125.03M |
| Total Operating Expenses | 33.43M | 47.21M | 41.79M | 45.58M | 1.31B | 1.10B |
| Operating Income | -34.77M | -48.24M | -41.18M | -48.75M | 49.45M | 103.02M |
| Interest Expense | -30.24M | -37.67M | ||||
| Other Non Operating Income (Expenses) | 16.94M | 3.64M | 2.62M | 5.27M | ||
| EBT Excluding Unusual Items | -17.83M | -44.60M | -38.56M | -43.48M | 19.21M | 65.34M |
| Gain (Loss) on Sale of Assets | 34.80M | |||||
| Pretax Income | -17.83M | -44.60M | -38.56M | -43.48M | 54.01M | 65.34M |
| Income Tax Expense | 400.00K | -5.69M | -6.22M | -4.75M | 50.45M | 21.29M |
| Earnings From Continuing Ops. | -18.23M | -38.91M | -32.34M | -38.73M | 3.56M | 44.05M |
| Earnings From Discontinued Ops. | 430.82M | 73.84M | 85.71M | 52.69M | ||
| Net Income to Company | 412.59M | 34.93M | 53.37M | 13.96M | 3.56M | 44.05M |
| Minority Interest in Earnings | -9.00K | -11.84M | -5.92M | |||
| Net Income | 412.59M | 34.93M | 53.37M | 13.95M | -8.27M | 38.13M |
| Preferred Dividends & Other Adjustments | 703.00K | |||||
| Net Income to Common | 412.59M | 34.93M | 53.37M | 13.95M | -8.27M | 37.43M |
| Shares Outstanding (Basic) | 37.58M | 37.56M | 36.87M | 36.69M | 35.53M | 33.22M |
| Shares Outstanding (Diluted) | 37.58M | 37.56M | 36.87M | 36.69M | 35.53M | 33.69M |
| EPS (Basic) | 10.98 | 0.93 | 1.45 | 0.38 | -0.23 | 1.13 |
| EPS (Diluted) | 10.98 | 0.93 | 1.44 | 0.38 | -0.23 | 1.09 |
| Free Cash Flow | -102.38M | 168.22M | 240.72M | 67.36M | 452.35M | 201.55M |
| Free Cash Flow Per Share | -2.72 | 4.48 | 6.53 | 1.84 | 12.73 | 5.98 |
| Dividend Per Share | 0.24 | 0.24 | 0.24 | 0.20 | 0.16 | 0.16 |
| Operating Margin | -6,695.77% | 3.63% | 8.58% | |||
| Profit Margin | 8,677.56% | -0.61% | 3.12% | |||
| Free Cash Flow Margin | 39,141.95% | 33.19% | 16.79% | |||
| EBITDA | -33.32M | -46.79M | -39.73M | -47.32M | 72.42M | 127.45M |
| EBITDA Margin | 5.31% | 10.62% | ||||
| D&A For EBITDA | 1.45M | 1.45M | 1.45M | 1.43M | 22.97M | 24.44M |
| EBIT | -34.77M | -48.24M | -41.18M | -48.75M | 49.45M | 103.02M |
| EBIT Margin | 3.63% | 8.58% | ||||
| Effective Tax Rate | 93.41% | 32.58% | ||||
| Revenue as Reported | 3.00K | 488.00K | 1.52M | 2.12M | 1.40B | 1.20B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 888.61M | 677.16M | 634.77M | |||
| Investments in Equity & Preferred Securities | 122.14M | 68.31M | 85.78M | 138.48M | ||
| Other Investments | 589.55M | 21.70M | 15.02M | 21.10M | 3.58M | 23.77M |
| Total Investments | 711.69M | 21.70M | 15.02M | 981.84M | 770.17M | 804.54M |
| Cash & Equivalents | 198.31M | 30.78M | 19.44M | 468.71M | 538.07M | 175.72M |
| Reinsurance Recoverable | 953.89M | 450.62M | 880.84M | |||
| Other Receivables | 735.55M | 572.47M | 518.02M | |||
| Deferred Policy Acquisition Cost | 565.75M | 498.93M | 379.37M | |||
| Property, Plant & Equipment | 12.21M | 14.56M | 17.85M | 61.09M | 53.33M | 38.75M |
| Goodwill | 206.16M | 186.61M | 179.10M | |||
| Other Intangible Assets | 118.76M | 116.89M | 122.58M | |||
| Restricted Cash | 23.85M | 12.78M | 19.37M | |||
| Other Current Assets | 12.25M | 2.36M | 3.71M | 913.67M | 744.61M | 262.01M |
| Other Long-Term Assets | 3.15M | 6.77B | 5.64B | 51.71M | 44.57M | 120.37M |
| Total Assets | 944.83M | 6.84B | 5.69B | 5.14B | 4.04B | 3.60B |
| Accounts Payable | 114.57M | 119.39M | 149.82M | |||
| Accrued Expenses | 30.44M | 19.12M | 13.65M | 53.78M | 42.78M | 20.41M |
| Unpaid Claims | 844.85M | 567.19M | 331.70M | |||
| Unearned Premiums | 1.70B | 1.36B | 1.12B | |||
| Reinsurance Payable | 543.60M | 305.10M | 265.57M | |||
| Current Portion of Leases | 1.84M | |||||
| Short-Term Debt | 8.14M | 32.18M | 32.14M | 36.73M | ||
| Long-Term Debt | 63.95M | 402.41M | 259.37M | 393.35M | ||
| Long-Term Leases | 7.12M | 8.65M | 11.14M | 40.40M | 38.03M | 29.40M |
| Long-Term Deferred Tax Liabilities | 80.39M | 57.07M | 139.84M | 90.39M | 40.05M | |
| Other Current Liabilities | 4.74M | 1.93M | 4.50M | 29.78M | 245.38M | |
| Other Long-Term Liabilities | 5.91B | 4.95B | 18.46M | 15.24M | 27.75M | |
| Total Liabilities | 42.29M | 6.09B | 5.04B | 4.56B | 3.51B | 3.20B |
| Common Stock | 37.00K | 38.00K | 37.00K | 37.00K | 36.00K | 34.00K |
| Additional Paid-In Capital | 381.07M | 394.44M | 389.69M | 382.24M | 382.64M | 317.46M |
| Retained Earnings | 523.48M | 121.57M | 95.72M | 60.66M | 54.11M | 68.15M |
| Comprehensive Income & Other | -2.06M | -7.50M | -27.75M | -26.07M | -39.43M | -2.69M |
| Total Common Equity | 902.53M | 508.55M | 457.70M | 416.87M | 397.37M | 382.95M |
| Minority Interest | 243.85M | 199.07M | 159.70M | 136.21M | 17.23M | |
| Shareholders' Equity | 902.53M | 752.40M | 656.77M | 576.57M | 533.57M | 400.18M |
| Total Liabilities & Equity | 944.83M | 6.84B | 5.69B | 5.14B | 4.04B | 3.60B |
| Filing Date Shares Outstanding | 36.43M | 37.88M | 37.26M | 36.76M | 36.73M | 34.39M |
| Total Common Shares Outstanding | 36.88M | 37.82M | 37.26M | 36.76M | 36.39M | 34.12M |
| Total Debt | 7.12M | 82.58M | 11.14M | 475.00M | 329.53M | 459.48M |
| Net Cash (Debt) | 191.19M | -51.80M | 8.30M | -6.29M | 208.53M | -283.76M |
| Net Cash Per Share | 5.09 | -1.38 | 0.23 | -0.17 | 5.87 | -8.42 |
| Book Value Per Share | 24.47 | 13.45 | 12.29 | 11.34 | 10.92 | 11.22 |
| Tangible Book Value | 902.53M | 508.55M | 457.70M | 91.95M | 93.87M | 81.27M |
| Tangible Book Value Per Share | 24.47 | 13.45 | 12.29 | 2.50 | 2.58 | 2.38 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 412.59M | 34.93M | 53.37M | 13.95M | -8.27M | 38.13M |
| Depreciation & Amortization | 1.45M | 1.45M | 1.45M | 1.43M | 22.97M | 24.44M |
| Other Amortization | 677.00K | 677.00K | 1.34M | 1.61M | ||
| Gain (Loss) on Sale of Assets | -1.00K | -452.00K | 1.80M | 3.76M | -109.23M | -139.81M |
| Gain (Loss) on Sale of Investments | -1.15M | 713.00K | -1.78M | -368.00K | 29.95M | -5.65M |
| Stock-Based Compensation | 5.84M | 11.34M | 8.68M | 6.23M | 9.71M | 11.13M |
| Reinsurance Recoverable | -203.87M | -78.93M | ||||
| Change in Unearned Revenue | 347.38M | 398.91M | ||||
| Change in Insurance Reserves / Liabilities | 235.49M | 98.27M | ||||
| Change in Other Net Operating Assets | -7.00M | 2.68M | 480.00K | 20.29M | 142.30M | -66.59M |
| Other Operating Activities | 1.03M | -4.66M | -3.33M | -3.95M | 57.05M | 26.95M |
| Operating Cash Flow | -102.38M | 168.22M | 240.76M | 71.45M | 463.07M | 204.32M |
| Capital Expenditures | -33.00K | -4.10M | -10.73M | -2.76M | ||
| Cash Acquisitions | -14.96M | 133.00K | ||||
| Investment in Securities | -672.18M | -6.16M | 58.16M | -58.50M | 63.21M | -258.83M |
| Other Investing Activities | 595.53M | -195.86M | -381.12M | -182.07M | -28.75M | -21.02M |
| Investing Cash Flow | -76.65M | -202.03M | -322.99M | -244.67M | 9.51M | -273.76M |
| Long-Term Debt Issued | 74.25M | 2.37B | 4.08B | |||
| Total Debt Repaid | -74.44M | -751.00K | -2.67B | -3.99B | ||
| Net Debt Issued (Repaid) | -74.44M | 73.50M | -300.78M | 90.94M | ||
| Issuance of Common Stock | 13.72M | |||||
| Repurchases of Common Stock | -17.09M | -1.73M | -8.14M | |||
| Common Dividends Paid | -9.05M | -9.07M | -18.31M | -7.40M | -7.78M | -5.41M |
| Other Financing Activities | -2.50M | -52.95M | 24.60M | 120.81M | 181.37M | -3.65M |
| Financing Cash Flow | -103.08M | 11.48M | 6.29M | 113.41M | -115.19M | 73.73M |
| Foreign Exchange Rate Adjustments | 857.00K | 3.43M | -355.00K | 1.52M | -1.83M | |
| Miscellaneous Cash Flow Adjustments | 366.59M | 396.83M | 445.58M | 415.51M | 9.36M | 4.88M |
| Net Cash Flow | 85.34M | 377.93M | 369.29M | 357.22M | 364.93M | 9.17M |
| Free Cash Flow | -102.38M | 168.22M | 240.72M | 67.36M | 452.35M | 201.55M |
| Free Cash Flow Margin | 39,141.95% | 33.19% | 16.79% | |||
| Free Cash Flow Per Share | -2.72 | 4.48 | 6.53 | 1.84 | 12.73 | 5.98 |
| Levered Free Cash Flow | -1.44B | -18.47M | -763.57M | -37.01M | 305.97M | 245.55M |
| Unlevered Free Cash Flow | -1.44B | -19.15M | -763.57M | -37.01M | 323.52M | 267.49M |
| Cash Interest Paid | 26.33M | 26.33M | 28.71M | 26.51M | 29.44M | 36.88M |
| Cash Income Tax Paid | 53.47M | 53.47M | 15.29M | -15.18M | 2.26M | 2.08M |
| Change in Working Capital | -7.00M | 2.68M | 480.00K | 20.29M | 441.28M | 242.62M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 640.72M | 691.04M | 772.98M | 696.78M | 501.74M | 468.84M |
| Enterprise Value | 449.53M | 1.16B | 1.04B | 727.09M | 465.64M | 788.98M |
| PE Ratio | 1.60 | 19.79 | 14.48 | 49.94 | 12.53 | |
| PS Ratio | -670.91 | 1,256.89 | -219.73 | 0.37 | 0.39 | |
| PB Ratio | 0.72 | 0.92 | 1.18 | 1.21 | 0.94 | 1.17 |
| P/FCF Ratio | 4.11 | 3.21 | 10.35 | 1.11 | 2.33 | |
| P/OCF Ratio | 4.11 | 3.21 | 9.75 | 1.08 | 2.29 | |
| EV/Sales Ratio | 1,693.75 | 0.34 | 0.66 | |||
| EV/EBITDA Ratio | 6.43 | 6.19 | ||||
| EV/EBIT Ratio | 9.42 | 7.66 | ||||
| EV/FCF Ratio | 6.89 | 4.33 | 10.79 | 1.03 | 3.92 | |
| Debt / Equity Ratio | 0.01 | 0.11 | 0.02 | 0.82 | 0.62 | 1.15 |
| Debt / EBITDA Ratio | 3.66 | 3.18 | ||||
| Debt / FCF Ratio | 0.49 | 0.05 | 7.05 | 0.73 | 2.28 | |
| Net Debt / Equity Ratio | -0.21 | 0.07 | -0.01 | 0.01 | -0.39 | 0.71 |
| Net Debt / EBITDA Ratio | 5.74 | -1.11 | 0.21 | -0.13 | -2.88 | 2.23 |
| Net Debt / FCF Ratio | 1.87 | 0.31 | -0.03 | 0.09 | -0.46 | 1.41 |
| Quick Ratio | 22.40 | 1.80 | 2.21 | 0.31 | 0.38 | 0.26 |
| Current Ratio | 22.75 | 1.89 | 2.45 | 0.91 | 0.90 | 0.84 |
| Asset Turnover | 0.00 | 0.36 | 0.36 | |||
| Return on Equity (ROE) | -2.22% | -5.52% | -5.24% | -6.98% | 0.76% | 11.39% |
| Return on Assets (ROA) | -0.59% | -0.48% | -0.47% | -0.66% | 0.81% | 1.95% |
| Return on Invested Capital (ROIC) | -3.81% | -6.42% | -4.79% | -5.09% | 0.38% | 8.16% |
| Earnings Yield | 62.41% | 5.05% | 6.90% | 2.00% | -1.65% | 8.13% |
| FCF Yield | -15.98% | 24.34% | 31.14% | 9.67% | 90.16% | 42.99% |
| Dividend Yield | 1.36% | 1.31% | 1.16% | 1.05% | 1.16% | 1.17% |
| Payout Ratio | 2.19% | 25.97% | 34.31% | 53.05% | 14.19% | |
| Buyback Yield / Dilution | -0.52% | -1.86% | -0.49% | -3.27% | -5.47% | 0.51% |
| Total Shareholder Return | 0.85% | -0.55% | 0.67% | -2.22% | -4.31% | 1.67% |