NYSE : HMN

Horace Mann Educators Corporation — Financial statements

Financials · Insurance - Property & Casualty · United States

Last price 46.72 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.89B

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Premiums & Annuity Revenue1.26B1.23B1.15B1.06B1.03B888.80M
Total Interest & Dividend Income401.40M387.80M400.90M385.70M360.40M343.50M
Gain (Loss) on Sale of Investments-6.10M-13.00M-17.30M-24.00M-56.50M-11.00M
Other Revenue93.40M98.20M65.60M73.10M50.00M108.00M
Total Revenue1.75B1.70B1.60B1.49B1.38B1.33B
Policy Benefits927.30M928.40M960.90M974.80M920.40M750.70M
Policy Acquisition & Underwriting Costs129.30M124.50M111.10M101.20M88.20M90.60M
Amortization of Goodwill & Intangibles14.20M14.30M14.50M14.80M16.80M13.00M
Selling, General & Administrative420.90M396.60M345.50M318.10M315.50M251.00M
Total Operating Expenses1.49B1.46B1.43B1.41B1.34B1.11B
Operating Income254.40M237.60M163.20M83.00M40.70M224.00M
Interest Expense-38.00M-36.40M-34.60M-29.70M-19.40M-13.90M
EBT Excluding Unusual Items216.40M201.20M128.60M53.30M21.30M210.10M
Impairment of Goodwill-2.00M
Asset Writedown-2.80M
Pretax Income216.40M201.20M128.60M53.30M16.50M210.10M
Income Tax Expense39.10M39.10M25.80M8.30M-3.30M39.70M
Net Income177.30M162.10M102.80M45.00M19.80M170.40M
Net Income to Common177.30M162.10M102.80M45.00M19.80M170.40M
Shares Outstanding (Basic)41.00M41.20M41.30M41.30M41.60M42.00M
Shares Outstanding (Diluted)41.40M41.60M41.50M41.40M41.80M42.20M
EPS (Basic)4.323.932.491.090.484.06
EPS (Diluted)4.283.902.481.090.474.04
Dividend Per Share1.421.401.361.321.281.24
Operating Margin14.57%13.96%10.23%5.56%2.95%16.85%
Profit Margin10.15%9.53%6.44%3.02%1.43%12.82%
EBITDA281.30M264.70M189.60M109.20M68.30M242.40M
EBITDA Margin16.11%15.56%11.89%7.32%4.94%18.23%
D&A For EBITDA26.90M27.10M26.40M26.20M27.60M18.40M
EBIT254.40M237.60M163.20M83.00M40.70M224.00M
EBIT Margin14.57%13.96%10.23%5.56%2.95%16.85%
Effective Tax Rate18.07%19.43%20.06%15.57%18.90%
Revenue as Reported1.75B1.70B1.60B1.49B1.38B1.33B

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Investments in Debt Securities4.59B4.56B4.28B4.22B4.22B5.34B
Investments in Equity & Preferred Securities1.14B1.17B1.19B1.23B1.08B860.00M
Policy Loans136.30M138.10M140.80M141.40M139.30M
Other Investments277.10M249.60M193.80M209.80M247.10M339.50M
Total Investments6.14B6.15B5.80B5.80B5.69B6.54B
Cash & Equivalents44.60M26.20M33.10M29.00M42.20M133.00M
Reinsurance Recoverable409.20M814.00M829.10M904.70M930.50M272.80M
Other Receivables6.40M28.10M25.90M18.80M9.50M
Deferred Policy Acquisition Cost358.20M358.20M347.20M336.30M330.60M248.00M
Separate Account Assets4.47B4.16B3.71B3.29B2.79B3.44B
Property, Plant & Equipment70.80M73.40M68.60M69.30M75.00M
Goodwill54.30M54.30M54.30M54.30M54.30M43.50M
Other Intangible Assets134.40M13.40M155.80M170.30M185.20M145.40M
Restricted Cash1.60M1.30M5.00M700.00K600.00K700.00K
Other Current Assets2.37B2.39B2.45B2.52B2.52B2.49B
Other Long-Term Assets1.62B1.22B1.00B855.30M667.10M980.30M
Total Assets15.60B15.27B14.49B14.05B13.31B14.38B
Insurance & Annuity Liabilities7.61B6.59B6.64B6.87B6.90B7.42B
Unpaid Claims587.80M565.20M569.20M581.70M564.00M425.90M
Unearned Premiums369.10M372.10M344.20M300.90M266.10M255.10M
Current Portion of Long-Term Debt1.01B
Short-Term Debt12.00M319.20M249.00M
Long-Term Debt594.20M618.40M1.54B1.45B1.04B253.60M
Long-Term Leases10.00M
Long-Term Deferred Tax Liabilities65.50M55.80M33.40M8.80M190.50M
Separate Account Liability4.47B4.16B3.71B3.29B2.79B3.44B
Other Current Liabilities91.00M111.70M106.80M108.40M98.40M119.60M
Other Long-Term Liabilities376.30M284.70M224.10M235.20M214.60M199.90M
Total Liabilities14.10B13.78B13.20B12.87B12.21B12.58B
Common Stock100.00K100.00K100.00K100.00K100.00K100.00K
Additional Paid-In Capital544.00M538.80M525.20M510.90M502.60M495.30M
Retained Earnings1.70B1.65B1.55B1.50B1.51B1.52B
Treasury Stock-571.50M-553.30M-532.50M-523.90M-517.40M-493.40M
Comprehensive Income & Other-174.40M-154.60M-253.50M-314.00M-399.40M280.50M
Shareholders' Equity1.50B1.48B1.29B1.18B1.10B1.81B
Total Liabilities & Equity15.60B15.27B14.49B14.05B13.31B14.38B
Filing Date Shares Outstanding40.50M40.45M40.87M40.88M40.84M41.35M
Total Common Shares Outstanding40.49M40.66M40.86M40.84M40.90M41.39M
Total Debt594.20M1.63B1.55B1.45B1.36B512.60M
Net Cash (Debt)-549.60M-1.61B-1.52B-1.42B-1.32B-379.60M
Net Cash Per Share-13.28-38.62-36.52-34.34-31.54-9.00
Book Value Per Share37.1136.4731.5128.7826.8543.66
Tangible Book Value1.31B1.42B1.08B950.70M858.80M1.62B
Tangible Book Value Per Share32.4534.8026.3623.2821.0039.10

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income177.30M162.10M102.80M45.00M19.80M170.40M
Depreciation & Amortization26.90M27.10M26.40M26.20M27.60M18.40M
Gain (Loss) on Sale of Investments6.10M13.00M17.30M24.00M56.50M11.00M
Stock-Based Compensation9.60M10.20M9.90M9.50M8.90M8.40M
Reinsurance Recoverable-5.50M5.80M55.70M-12.50M-309.80M7.40M
Change in Income Taxes-7.10M2.10M28.20M-15.00M110.50M-91.20M
Change in Insurance Reserves / Liabilities123.00M125.30M82.80M186.70M334.20M114.50M
Change in Other Net Operating Assets236.50M212.60M93.50M52.70M-99.20M7.50M
Operating Cash Flow566.10M553.20M452.10M302.10M171.50M204.90M
Cash Acquisitions-164.40M
Investment in Securities-247.00M-242.30M-143.00M-116.60M-40.60M-291.80M
Other Investing Activities-19.80M-9.80M7.20M9.20M-9.60M-10.20M
Investing Cash Flow-266.80M-252.10M-135.80M-107.40M-214.60M-302.00M
Short-Term Debt Issued2.50M9.90M114.30M
Long-Term Debt Issued295.20M297.70M5.00M
Total Debt Issued296.90M295.20M2.50M297.70M9.90M119.30M
Total Debt Repaid-1.07B-765.20M-270.00M-441.00M-154.00M-416.00M
Net Debt Issued (Repaid)-773.30M-470.00M-267.50M-143.30M-144.10M-296.70M
Issuance of Common Stock7.60M5.30M5.10M300.00K
Repurchases of Common Stock-37.20M-24.20M-10.40M-8.30M-26.40M-7.30M
Common Dividends Paid-57.60M-57.10M-55.50M-53.90M-52.60M-51.40M
Other Financing Activities-162.60M-173.60M-150.40M-193.80M3.20M-39.20M
Financing Cash Flow-294.00M-311.70M-307.90M-207.80M-47.80M208.50M
Net Cash Flow5.30M-10.60M8.40M-13.10M-90.90M111.40M
Levered Free Cash Flow222.65M197.05M297.18M208.31M-545.89M-85.79M
Unlevered Free Cash Flow246.40M219.80M318.80M226.88M-533.76M-77.10M
Cash Interest Paid33.70M32.20M33.50M30.10M18.20M13.50M
Cash Income Tax Paid51.30M34.70M22.10M14.00M8.60M23.70M
Change in Working Capital346.90M345.80M260.20M211.90M35.70M38.20M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization1.91B1.88B1.60B1.34B1.53B1.61B
Enterprise Value2.46B2.68B2.15B1.85B1.99B1.96B
PE Ratio11.0311.5915.5529.6777.199.42
PS Ratio1.081.101.000.901.111.21
PB Ratio1.261.271.241.141.390.89
P/OCF Ratio3.343.403.544.428.917.84
EV/Sales Ratio1.401.571.351.241.441.47
EV/EBITDA Ratio8.6810.1111.3516.9229.158.07
EV/EBIT Ratio9.6011.2613.1822.2648.928.73
Debt / Equity Ratio0.401.101.201.231.240.28
Debt / EBITDA Ratio2.116.178.1713.2819.922.08
Net Debt / Equity Ratio0.371.081.181.211.200.21
Net Debt / EBITDA Ratio1.956.077.9913.0219.301.57
Quick Ratio0.220.120.170.190.200.29
Current Ratio2.871.673.353.642.962.92
Asset Turnover0.120.110.110.110.100.10
Return on Equity (ROE)12.38%11.70%8.35%3.96%1.36%9.47%
Return on Assets (ROA)1.05%1.00%0.71%0.38%0.18%1.00%
Return on Invested Capital (ROIC)10.02%6.43%4.78%2.76%1.70%7.97%
Earnings Yield9.06%8.63%6.43%3.37%1.29%10.61%
Dividend Yield3.05%3.03%3.48%4.04%3.43%3.20%
Payout Ratio33.63%35.23%53.99%119.78%265.66%30.16%
Buyback Yield / Dilution0.36%-0.24%-0.24%0.96%0.95%-0.48%
Total Shareholder Return3.44%2.79%3.23%4.99%4.37%2.72%