NYSE : ARX
Accelerant Holdings — Financial statements
Financials · Insurance Brokers · Cayman Islands
Last price 19.82 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 4.30B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Accelerant Holdings (ARX) reported revenue of 1.07B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.01B | 816.90M | 542.80M | 306.90M | 220.00M | 101.20M |
| Other Revenue | 65.20M | 39.40M | 19.00M | 17.30M | 300.00K | |
| Revenue | 1.07B | 856.30M | 561.80M | 324.20M | 220.30M | 101.20M |
| Cost of Revenue | 374.40M | 284.30M | 248.70M | 130.20M | 134.50M | 39.70M |
| Gross Profit | 697.30M | 572.00M | 313.10M | 194.00M | 85.80M | 61.50M |
| Selling, General & Admin | 489.30M | 400.40M | 249.30M | 182.50M | 115.60M | 65.50M |
| Research & Development | 8.20M | 2.20M | ||||
| Other Operating Expenses | 98.60M | 79.10M | 39.00M | 46.30M | 28.80M | |
| Operating Expenses | 626.60M | 513.50M | 311.40M | 243.30M | 158.40M | 69.40M |
| Operating Income | 70.70M | 58.50M | 1.70M | -49.30M | -72.60M | -7.90M |
| Interest Expense | -1.39B | -1.39B | -12.10M | -10.90M | -4.20M | -2.90M |
| Interest & Investment Income | 43.00M | 48.70M | 38.90M | 19.30M | 2.60M | |
| Currency Exchange Gain (Loss) | 1.30M | -20.20M | 5.10M | -3.50M | -1.40M | 2.50M |
| Other Non Operating Income (Expenses) | -3.60M | |||||
| EBT Excluding Unusual Items | -1.28B | -1.30B | 33.60M | -44.40M | -75.60M | -11.90M |
| Merger & Restructuring Charges | -4.80M | -7.60M | ||||
| Gain (Loss) on Sale of Investments | 31.30M | 7.90M | 1.90M | 500.00K | -3.90M | -600.00K |
| Asset Writedown | -1.20M | -1.20M | -3.50M | |||
| Other Unusual Items | -95.90M | -95.90M | ||||
| Pretax Income | -1.34B | -1.39B | 32.00M | -43.90M | -84.30M | -20.10M |
| Income Tax Expense | 19.90M | 23.30M | 9.10M | 20.20M | 11.30M | 4.30M |
| Earnings From Continuing Operations | -1.36B | -1.42B | 22.90M | -64.10M | -95.60M | -24.40M |
| Minority Interest in Earnings | -5.70M | -8.90M | 4.30M | 15.30M | 3.90M | 2.90M |
| Net Income | -1.37B | -1.43B | 27.20M | -48.80M | -91.70M | -21.50M |
| Net Income to Common | -1.37B | -1.43B | 27.20M | -48.80M | -91.70M | -21.50M |
| Shares Outstanding (Basic) | 217.26M | 190.26M | 165.98M | 165.60M | 1.98M | 1.98M |
| Shares Outstanding (Diluted) | 217.26M | 190.26M | 199.66M | 165.60M | 1.98M | 1.98M |
| EPS (Basic) | -6.29 | -7.49 | 0.16 | -0.29 | -46.33 | -10.86 |
| EPS (Diluted) | -6.29 | -7.49 | 0.14 | -0.29 | -46.33 | -10.86 |
| Gross Margin | 65.06% | 66.80% | 55.73% | 59.84% | 38.95% | 60.77% |
| Operating Margin | 6.60% | 6.83% | 0.30% | -15.21% | -32.95% | -7.81% |
| Profit Margin | -127.54% | -166.41% | 4.84% | -15.05% | -41.62% | -21.25% |
| EBITDA | 109.40M | 92.50M | 24.80M | -34.80M | -66.80M | -6.30M |
| EBITDA Margin | 10.21% | 10.80% | 4.41% | -10.73% | -30.32% | -6.22% |
| D&A For EBITDA | 38.70M | 34.00M | 23.10M | 14.50M | 5.80M | 1.60M |
| EBIT | 70.70M | 58.50M | 1.70M | -49.30M | -72.60M | -7.90M |
| EBIT Margin | 6.60% | 6.83% | 0.30% | -15.21% | -32.95% | -7.81% |
| Effective Tax Rate | 28.44% | |||||
| Revenue as Reported | 1.15B | 912.90M | 602.60M | 344.00M | 219.00M | 100.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.57B | 1.72B | 1.23B | 775.40M | 444.60M | 272.70M |
| Short-Term Investments | 85.60M | 41.60M | 64.80M | 8.00M | 6.10M | 14.50M |
| Cash & Short-Term Investments | 1.66B | 1.76B | 1.29B | 783.40M | 450.70M | 287.20M |
| Accounts Receivable | 5.96B | 5.14B | 3.73B | 2.27B | 1.28B | 558.90M |
| Other Receivables | 31.90M | 7.60M | 7.10M | 34.30M | 4.50M | |
| Receivables | 5.99B | 5.14B | 3.74B | 2.27B | 1.32B | 563.40M |
| Prepaid Expenses | 20.60M | 20.80M | 17.10M | 10.40M | 5.00M | 6.00M |
| Restricted Cash | 83.50M | 83.10M | 47.30M | 1.60M | 29.20M | |
| Other Current Assets | 80.30M | 88.80M | 101.10M | 216.30M | 19.50M | 28.00M |
| Total Current Assets | 7.83B | 7.09B | 5.19B | 3.28B | 1.79B | 913.80M |
| Long-Term Investments | 645.40M | 759.60M | 538.10M | 239.50M | 267.30M | 135.50M |
| Goodwill | 63.10M | 30.90M | 20.70M | 18.30M | 12.60M | |
| Other Intangible Assets | 216.90M | 152.50M | 116.70M | 99.90M | 31.30M | 29.90M |
| Long-Term Deferred Tax Assets | 78.90M | 77.80M | 51.60M | 10.40M | 10.80M | 3.40M |
| Long-Term Deferred Charges | 105.40M | 76.90M | 76.70M | 65.40M | 70.10M | 31.80M |
| Other Long-Term Assets | 65.50M | 40.30M | 87.80M | 17.20M | 7.80M | 28.50M |
| Total Assets | 8.94B | 8.26B | 6.09B | 3.74B | 2.20B | 1.16B |
| Accounts Payable | 9.50M | 5.30M | 17.80M | |||
| Accrued Expenses | 193.70M | 219.60M | 164.90M | 91.60M | 92.30M | 59.30M |
| Current Portion of Long-Term Debt | 3.10M | |||||
| Current Income Taxes Payable | 10.10M | 8.70M | 4.40M | |||
| Other Current Liabilities | 487.40M | 429.90M | 104.20M | 3.50M | ||
| Total Current Liabilities | 691.20M | 661.30M | 169.30M | 101.10M | 201.80M | 80.60M |
| Long-Term Debt | 120.10M | 118.20M | 121.40M | 120.30M | 100.50M | 49.90M |
| Long-Term Unearned Revenue | 2.40B | 2.40B | 2.00B | 1.27B | 828.10M | 364.90M |
| Other Long-Term Liabilities | 4.99B | 4.36B | 3.38B | 1.96B | 718.70M | 404.00M |
| Total Liabilities | 8.20B | 7.54B | 5.67B | 3.45B | 1.85B | 899.40M |
| Additional Paid-In Capital | 2.19B | 2.23B | 124.80M | 146.20M | 145.50M | 145.50M |
| Retained Earnings | -1.46B | -1.54B | -182.80M | -210.00M | -161.20M | -69.50M |
| Comprehensive Income & Other | -11.00M | 2.20M | -19.50M | -7.50M | -10.90M | 8.10M |
| Total Common Equity | 717.40M | 697.70M | -77.50M | -71.30M | -26.60M | 84.10M |
| Minority Interest | 26.60M | 28.70M | 18.30M | -23.80M | -4.50M | -1.80M |
| Shareholders' Equity | 744.00M | 726.40M | 427.00M | 286.70M | 350.00M | 256.10M |
| Total Liabilities & Equity | 8.94B | 8.26B | 6.09B | 3.74B | 2.20B | 1.16B |
| Total Debt | 120.10M | 121.30M | 121.40M | 120.30M | 100.50M | 49.90M |
| Net Cash (Debt) | 1.54B | 1.64B | 1.17B | 663.10M | 350.20M | 237.30M |
| Net Cash Per Share | 7.08 | 8.60 | 5.86 | 4.00 | 176.93 | 119.89 |
| Filing Date Shares Outstanding | 217.19M | 222.16M | 1.99M | 1.98M | 1.98M | 1.98M |
| Total Common Shares Outstanding | 216.92M | 221.82M | 1.99M | 1.98M | 1.98M | 1.98M |
| Working Capital | 7.14B | 6.43B | 5.02B | 3.18B | 1.59B | 833.20M |
| Book Value Per Share | 3.31 | 3.15 | -39.02 | -36.02 | -13.44 | 42.49 |
| Tangible Book Value | 500.50M | 482.10M | -225.10M | -191.90M | -76.20M | 41.60M |
| Tangible Book Value Per Share | 2.31 | 2.17 | -113.33 | -96.95 | -38.50 | 21.02 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.37B | -1.43B | 27.20M | -48.80M | -91.70M | -21.50M |
| Depreciation & Amortization | 38.70M | 34.00M | 23.10M | 14.50M | 5.80M | 1.60M |
| Asset Writedown & Restructuring Costs | 1.20M | 1.20M | 3.50M | |||
| Loss (Gain) From Sale of Investments | -104.00M | -54.90M | -26.60M | -18.30M | 3.50M | 600.00K |
| Loss (Gain) on Equity Investments | -2.50M | -1.80M | -2.30M | -2.90M | -1.00M | |
| Stock-Based Compensation | 89.40M | 43.10M | 8.40M | 4.80M | ||
| Other Operating Activities | 1.44B | 1.45B | -48.70M | -15.50M | -8.20M | 4.30M |
| Change in Accounts Receivable | -230.90M | -258.60M | -319.00M | -221.80M | -114.90M | -43.90M |
| Change in Unearned Revenue | 21.10M | 342.80M | 743.20M | 409.60M | 482.20M | 210.10M |
| Change in Other Net Operating Assets | 161.20M | 313.60M | 376.90M | 168.40M | -208.20M | -38.50M |
| Operating Cash Flow | 45.80M | 445.10M | 785.70M | 290.00M | 67.50M | 112.70M |
| Cash Acquisitions | -17.90M | -9.90M | -500.00K | 2.80M | -1.70M | -19.40M |
| Sale (Purchase) of Intangibles | -44.00M | -41.40M | -34.40M | -32.60M | -26.70M | -14.70M |
| Investment in Securities | 130.00M | -121.80M | -343.50M | 18.50M | -119.90M | -98.30M |
| Other Investing Activities | -800.00K | -500.00K | -1.70M | -1.30M | 600.00K | -100.00K |
| Investing Cash Flow | 67.30M | -173.60M | -380.10M | -12.60M | -147.70M | -132.50M |
| Short-Term Debt Issued | 5.00M | |||||
| Long-Term Debt Issued | 49.70M | 20.00M | 54.10M | 49.50M | ||
| Total Debt Issued | 5.00M | 49.70M | 20.00M | 54.10M | 49.50M | |
| Short-Term Debt Repaid | -5.00M | |||||
| Long-Term Debt Repaid | -800.00K | -50.40M | -2.00M | -1.50M | ||
| Total Debt Repaid | -7.40M | -5.80M | -50.40M | -2.00M | -1.50M | |
| Net Debt Issued (Repaid) | -7.40M | -800.00K | -700.00K | 18.00M | 52.60M | 49.50M |
| Issuance of Common Stock | 392.00M | 392.00M | 30.90M | |||
| Other Financing Activities | -19.30M | -10.10M | -3.50M | -8.40M | -1.40M | |
| Financing Cash Flow | 107.40M | 205.80M | 110.30M | 10.30M | 256.00M | 233.70M |
| Foreign Exchange Rate Adjustments | -22.70M | 49.00M | -18.30M | 4.10M | -15.50M | 2.20M |
| Net Cash Flow | 197.80M | 526.30M | 497.60M | 291.80M | 160.30M | 216.10M |
| Levered Free Cash Flow | -1.48B | -1.73B | -1.34B | -1.31B | -663.90M | |
| Unlevered Free Cash Flow | -612.61M | -860.84M | -1.34B | -1.30B | -661.27M | |
| Cash Interest Paid | 9.40M | 10.00M | 11.10M | 10.10M | 3.40M | 2.50M |
| Cash Income Tax Paid | 65.40M | 59.10M | 45.50M | 20.20M | 21.10M | |
| Change in Working Capital | -48.60M | 397.80M | 801.10M | 356.20M | 159.10M | 127.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.30B | 3.63B | ||||
| Enterprise Value | 2.76B | 2.12B | ||||
| Last Close Price | 19.82 | 16.35 | ||||
| Forward PE | 23.14 | 25.64 | ||||
| PS Ratio | 4.02 | 4.24 | ||||
| PB Ratio | 5.99 | 4.99 | ||||
| P/TBV Ratio | 8.60 | 7.52 | ||||
| P/OCF Ratio | 93.99 | 8.15 | ||||
| EV/Sales Ratio | 2.58 | 2.47 | ||||
| EV/EBITDA Ratio | 25.29 | 22.87 | ||||
| EV/EBIT Ratio | 39.13 | 36.16 | ||||
| Debt / Equity Ratio | 0.16 | 0.17 | 0.28 | 0.42 | 0.29 | 0.20 |
| Debt / EBITDA Ratio | 1.10 | 1.31 | 4.90 | |||
| Net Debt / Equity Ratio | -2.07 | -2.25 | -2.74 | -2.31 | -1.00 | -0.93 |
| Net Debt / EBITDA Ratio | -14.06 | -17.69 | -47.14 | 19.05 | 5.24 | 37.67 |
| Asset Turnover | 0.13 | 0.12 | 0.11 | 0.11 | 0.13 | |
| Quick Ratio | 11.06 | 10.43 | 29.70 | 30.24 | 8.76 | 10.55 |
| Current Ratio | 11.33 | 10.73 | 30.67 | 32.48 | 8.89 | 11.34 |
| Return on Equity (ROE) | -222.00% | -245.55% | 6.42% | -20.14% | -31.55% | |
| Return on Assets (ROA) | 0.54% | 0.51% | 0.02% | -1.04% | -2.71% | |
| Return on Invested Capital (ROIC) | -42.02% | |||||
| Return on Capital Employed (ROCE) | 0.90% | 0.80% | 0.00% | -1.40% | -3.60% | -0.70% |
| Earnings Yield | -31.76% | -39.29% | ||||
| Buyback Yield / Dilution | 1.12% | 4.71% | -20.57% | -8,266.90% |