NYSE : ASIC
Ategrity Specialty Insurance Company Holdings — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 23.82 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.14B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Premiums & Annuity Revenue | 448.88M | 361.69M | 290.63M | 231.46M |
| Total Interest & Dividend Income | 49.38M | 42.38M | 24.05M | 11.37M |
| Gain (Loss) on Sale of Investments | 17.47M | 12.65M | 28.14M | -2.27M |
| Other Revenue | 10.65M | 7.62M | 1.01M | 755.00K |
| Total Revenue | 526.38M | 424.34M | 343.83M | 241.32M |
| Policy Benefits | 260.12M | 212.15M | 175.23M | 154.11M |
| Policy Acquisition & Underwriting Costs | 135.03M | 113.31M | 98.57M | 72.16M |
| Other Operating Expenses | 1.63M | 530.00K | 238.00K | 196.00K |
| Total Operating Expenses | 397.56M | 326.77M | 275.53M | 226.46M |
| Operating Income | 128.82M | 97.57M | 68.31M | 14.86M |
| Interest Expense | -83.00K | -1.36M | -2.04M | -2.24M |
| EBT Excluding Unusual Items | 128.74M | 96.21M | 66.26M | 12.62M |
| Other Unusual Items | -300.00K | -300.00K | ||
| Pretax Income | 128.44M | 95.91M | 66.26M | 12.62M |
| Income Tax Expense | 26.60M | 19.79M | 12.32M | 2.52M |
| Earnings From Continuing Ops. | 101.84M | 76.13M | 53.95M | 10.10M |
| Minority Interest in Earnings | -3.09M | -2.13M | -6.86M | -55.00K |
| Net Income | 98.75M | 74.00M | 47.09M | 10.05M |
| Preferred Dividends & Other Adjustments | 890.00K | 890.00K | 360.00K | |
| Net Income to Common | 97.86M | 73.11M | 46.73M | 10.05M |
| Shares Outstanding (Basic) | 48.03M | 44.66M | 36.65M | 349.94M |
| Shares Outstanding (Diluted) | 49.93M | 46.23M | 36.65M | 349.95M |
| EPS (Basic) | 2.04 | 1.64 | 1.28 | 0.03 |
| EPS (Diluted) | 1.98 | 1.58 | 1.28 | 0.03 |
| Free Cash Flow | 140.72M | 125.45M | 85.71M | |
| Free Cash Flow Per Share | 3.04 | 3.42 | 0.24 | |
| Operating Margin | 24.47% | 22.99% | 19.87% | 6.16% |
| Profit Margin | 18.59% | 17.23% | 13.59% | 4.16% |
| Free Cash Flow Margin | 33.16% | 36.48% | 35.52% | |
| EBITDA | 129.81M | 98.17M | 69.00M | 15.09M |
| EBITDA Margin | 24.66% | 23.13% | 20.07% | 6.25% |
| D&A For EBITDA | 995.00K | 593.00K | 699.00K | 227.00K |
| EBIT | 128.82M | 97.57M | 68.31M | 14.86M |
| EBIT Margin | 24.47% | 22.99% | 19.87% | 6.16% |
| Effective Tax Rate | 20.71% | 20.63% | 18.59% | 19.95% |
| Revenue as Reported | 526.38M | 424.34M | 343.83M | 241.32M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Investments in Debt Securities | 695.29M | 558.43M | 438.75M | 98.20M |
| Investments in Equity & Preferred Securities | 1.00M | |||
| Other Investments | 427.16M | 410.38M | 323.13M | 253.74M |
| Total Investments | 1.12B | 968.81M | 761.89M | 352.94M |
| Cash & Equivalents | 13.61M | 29.72M | 26.57M | 264.65M |
| Reinsurance Recoverable | 187.80M | 150.39M | 133.62M | 125.67M |
| Other Receivables | 281.31M | 266.25M | 140.85M | 101.55M |
| Deferred Policy Acquisition Cost | 40.50M | 30.20M | 21.55M | 23.25M |
| Property, Plant & Equipment | 1.75M | 2.28M | 2.78M | |
| Other Current Assets | 2.93M | 3.90M | 396.00K | |
| Long-Term Deferred Tax Assets | 18.07M | 13.29M | 9.67M | 7.22M |
| Other Long-Term Assets | 12.62M | 10.98M | 23.11M | 3.59M |
| Total Assets | 1.68B | 1.47B | 1.12B | 882.04M |
| Accounts Payable | 30.91M | 30.70M | 36.90M | 17.70M |
| Accrued Expenses | 700.00K | 9.99M | ||
| Unearned Premiums | 338.36M | 281.86M | 212.83M | 173.91M |
| Reinsurance Payable | 24.21M | 32.61M | 29.25M | 20.26M |
| Current Portion of Leases | 765.00K | |||
| Short-Term Debt | 930.00K | 12.13M | ||
| Current Income Taxes Payable | 182.00K | 8.41M | 26.49M | 8.85M |
| Long-Term Leases | 3.20M | 1.35M | 2.74M | 3.31M |
| Other Current Liabilities | 287.00K | 364.00K | 200.00K | |
| Other Long-Term Liabilities | 619.40M | 502.76M | 405.14M | 323.49M |
| Total Liabilities | 1.02B | 859.45M | 724.63M | 559.85M |
| Common Stock | 657.65M | 48.00K | 38.00K | 338.63M |
| Additional Paid-In Capital | 496.47M | 360.70M | ||
| Retained Earnings | 108.57M | 34.57M | -12.52M | |
| Comprehensive Income & Other | 9.22M | 3.00M | -4.42M | |
| Total Common Equity | 657.65M | 614.31M | 398.31M | 321.70M |
| Minority Interest | 2.45M | 550.00K | 500.00K | 500.00K |
| Shareholders' Equity | 660.09M | 614.86M | 398.81M | 322.20M |
| Total Liabilities & Equity | 1.68B | 1.47B | 1.12B | 882.04M |
| Filing Date Shares Outstanding | 47.93M | 48.07M | 36.65M | 349.94M |
| Total Common Shares Outstanding | 47.93M | 48.07M | 36.65M | 349.94M |
| Total Debt | 3.20M | 2.12M | 3.67M | 15.44M |
| Net Cash (Debt) | 10.41M | 27.60M | 22.91M | 249.21M |
| Net Cash Per Share | 0.21 | 0.60 | 0.62 | 0.71 |
| Book Value Per Share | 13.72 | 12.78 | 10.87 | 0.92 |
| Tangible Book Value | 657.65M | 614.31M | 398.31M | 321.70M |
| Tangible Book Value Per Share | 13.72 | 12.78 | 10.87 | 0.92 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Net Income | 74.00M | 47.09M | 10.05M | |
| Depreciation & Amortization | 593.00K | 699.00K | 227.00K | |
| Gain (Loss) on Sale of Investments | -19.09M | -31.73M | 2.74M | |
| Stock-Based Compensation | 1.02M | 2.01M | 27.00K | |
| Change in Accounts Receivable | -21.74M | -4.40M | -6.17M | |
| Reinsurance Recoverable | -16.77M | -7.95M | 1.66M | |
| Change in Accounts Payable | -6.41M | 30.16M | 5.55M | |
| Change in Unearned Revenue | 69.04M | 38.92M | 38.43M | |
| Change in Income Taxes | -10.21M | 17.64M | 13.20M | |
| Change in Deferred Taxes | -5.28M | -4.41M | -6.97M | |
| Change in Insurance Reserves / Liabilities | 98.67M | 82.64M | 44.50M | |
| Change in Other Net Operating Assets | -5.54M | -62.01M | -11.39M | |
| Other Operating Activities | -6.33M | 3.76M | -2.68M | |
| Operating Cash Flow | 147.19M | 125.61M | 85.71M | |
| Capital Expenditures | -6.47M | -164.00K | ||
| Investment in Securities | -174.69M | -363.11M | 14.58M | |
| Other Investing Activities | -93.00M | -66.00K | ||
| Investing Cash Flow | -274.15M | -363.27M | 14.51M | |
| Issuance of Common Stock | 144.45M | 35.00M | ||
| Repurchases of Common Stock | -2.74M | |||
| Common Dividends Paid | -6.86M | -414.00K | -2.73M | |
| Other Financing Activities | -4.74M | |||
| Financing Cash Flow | 130.11M | -414.00K | 32.27M | |
| Net Cash Flow | 3.15M | -238.07M | 132.49M | |
| Free Cash Flow | 140.72M | 125.45M | 85.71M | |
| Free Cash Flow Margin | 33.16% | 36.48% | 35.52% | |
| Free Cash Flow Per Share | 3.04 | 3.42 | 0.24 | |
| Levered Free Cash Flow | -121.79M | 35.50M | ||
| Unlevered Free Cash Flow | -120.94M | 36.78M | ||
| Cash Interest Paid | 1.73M | 2.12M | 2.19M | |
| Cash Income Tax Paid | -35.28M | 907.00K | ||
| Change in Working Capital | 97.00M | 103.79M | 75.35M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Market Capitalization | 1.16B | 1.01B | ||
| Enterprise Value | 1.14B | 979.27M | ||
| PE Ratio | 12.18 | 13.81 | ||
| PS Ratio | 2.21 | 2.38 | ||
| PB Ratio | 1.74 | 1.64 | ||
| P/FCF Ratio | 6.72 | 7.18 | ||
| P/OCF Ratio | 6.56 | 6.86 | ||
| EV/Sales Ratio | 2.19 | 2.31 | ||
| EV/EBITDA Ratio | 8.88 | 9.98 | ||
| EV/EBIT Ratio | 8.95 | 10.04 | ||
| EV/FCF Ratio | 6.66 | 6.96 | ||
| Debt / Equity Ratio | 0.01 | 0.00 | 0.01 | 0.05 |
| Debt / EBITDA Ratio | 0.02 | 0.02 | 0.05 | 1.02 |
| Debt / FCF Ratio | 0.01 | 0.03 | 0.18 | |
| Net Debt / Equity Ratio | -0.02 | -0.04 | -0.06 | -0.77 |
| Net Debt / EBITDA Ratio | -0.08 | -0.28 | -0.33 | -16.52 |
| Net Debt / FCF Ratio | -0.20 | -0.18 | -2.91 | |
| Quick Ratio | 0.97 | 1.12 | 0.63 | 1.51 |
| Current Ratio | 1.48 | 1.58 | 1.09 | 2.05 |
| Asset Turnover | 0.34 | 0.33 | 0.34 | |
| Return on Equity (ROE) | 16.29% | 15.02% | 14.96% | |
| Return on Assets (ROA) | 5.16% | 4.70% | 4.26% | |
| Return on Invested Capital (ROIC) | 15.30% | 15.19% | 15.03% | 3.52% |
| Earnings Yield | 8.21% | 7.33% | ||
| FCF Yield | 14.89% | 13.94% | ||
| Payout Ratio | 9.27% | 0.88% | 27.12% | |
| Buyback Yield / Dilution | -15.88% | -26.16% | 89.53% |