NYSE : HRTG
Heritage Insurance Holdings, Inc. — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 35.64 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.03B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 809.08M | 794.16M | 767.86M | 697.18M | 637.07M | 611.07M |
| Total Interest & Dividend Income | 41.68M | 37.16M | 36.63M | 25.76M | 11.98M | 5.65M |
| Gain (Loss) on Sale of Investments | -92.00K | 2.71M | -705.00K | -972.00K | -258.00K | -16.00K |
| Other Revenue | 10.74M | 13.30M | 13.20M | 13.53M | 13.68M | 14.85M |
| Total Revenue | 861.41M | 847.33M | 816.99M | 735.50M | 662.46M | 631.56M |
| Policy Benefits | 297.50M | 313.25M | 447.05M | 426.13M | 501.16M | 427.37M |
| Policy Acquisition & Underwriting Costs | 175.78M | 173.96M | 191.19M | 167.61M | 156.30M | 145.97M |
| Selling, General & Administrative | 94.56M | 92.97M | 85.14M | 77.78M | 70.40M | 65.79M |
| Total Operating Expenses | 567.84M | 580.18M | 723.38M | 671.52M | 727.86M | 639.12M |
| Operating Income | 293.57M | 267.15M | 93.61M | 63.98M | -65.40M | -7.56M |
| Interest Expense | -6.71M | -7.89M | -10.93M | -11.21M | -8.81M | -7.97M |
| Other Non Operating Income (Expenses) | -1.00K | |||||
| EBT Excluding Unusual Items | 286.86M | 259.26M | 82.67M | 52.77M | -74.21M | -15.53M |
| Impairment of Goodwill | -91.96M | -60.50M | ||||
| Asset Writedown | -767.00K | |||||
| Pretax Income | 286.86M | 259.26M | 82.67M | 52.01M | -166.17M | -76.03M |
| Income Tax Expense | 70.87M | 63.67M | 21.14M | 6.70M | -11.81M | -1.31M |
| Net Income | 215.99M | 195.59M | 61.54M | 45.31M | -154.36M | -74.73M |
| Net Income to Common | 215.99M | 195.59M | 61.54M | 45.31M | -154.36M | -74.73M |
| Shares Outstanding (Basic) | 30.33M | 30.89M | 30.60M | 26.19M | 26.34M | 27.80M |
| Shares Outstanding (Diluted) | 30.39M | 30.95M | 30.65M | 26.25M | 26.34M | 27.80M |
| EPS (Basic) | 7.12 | 6.33 | 2.01 | 1.73 | -5.86 | -2.69 |
| EPS (Diluted) | 7.10 | 6.32 | 2.01 | 1.73 | -5.86 | -2.69 |
| Free Cash Flow | 174.16M | 78.86M | 60.52M | -46.64M | 59.12M | |
| Free Cash Flow Per Share | 5.63 | 2.57 | 2.31 | -1.77 | 2.13 | |
| Dividend Per Share | 0.12 | 0.24 | ||||
| Operating Margin | 34.08% | 31.53% | 11.46% | 8.70% | -9.87% | -1.20% |
| Profit Margin | 25.07% | 23.08% | 7.53% | 6.16% | -23.30% | -11.83% |
| Free Cash Flow Margin | 20.55% | 9.65% | 8.23% | -7.04% | 9.36% | |
| EBITDA | 305.82M | 279.85M | 103.16M | 72.67M | -57.04M | 885.00K |
| EBITDA Margin | 35.50% | 33.03% | 12.63% | 9.88% | -8.61% | 0.14% |
| D&A For EBITDA | 12.25M | 12.70M | 9.55M | 8.69M | 8.36M | 8.45M |
| EBIT | 293.57M | 267.15M | 93.61M | 63.98M | -65.40M | -7.56M |
| EBIT Margin | 34.08% | 31.53% | 11.46% | 8.70% | -9.87% | -1.20% |
| Effective Tax Rate | 24.70% | 24.56% | 25.56% | 12.88% | ||
| Revenue as Reported | 861.41M | 847.33M | 816.99M | 735.50M | 662.46M | 631.56M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 852.63M | 709.44M | 624.96M | 534.38M | 611.27M | 646.85M |
| Investments in Equity & Preferred Securities | 816.00K | 1.90M | 2.86M | 2.42M | 5.03M | 5.27M |
| Other Investments | 1.21M | 446.00K | 5.03M | 6.31M | 12.97M | 20.08M |
| Total Investments | 854.66M | 711.79M | 632.84M | 543.12M | 629.27M | 672.20M |
| Cash & Equivalents | 532.10M | 559.27M | 452.67M | 463.64M | 280.88M | 359.34M |
| Reinsurance Recoverable | 218.88M | 318.59M | 740.20M | 482.43M | 805.06M | 269.39M |
| Other Receivables | 95.63M | 114.02M | 110.27M | 108.42M | 110.05M | 88.77M |
| Deferred Policy Acquisition Cost | 64.85M | 64.54M | 63.20M | 69.26M | 99.62M | 93.88M |
| Property, Plant & Equipment | 43.03M | 45.73M | 59.01M | 57.66M | 53.20M | 45.18M |
| Goodwill | 91.96M | |||||
| Other Intangible Assets | 25.65M | 30.19M | 36.37M | 42.55M | 49.58M | 55.93M |
| Restricted Cash | 13.29M | 13.31M | 10.98M | 9.70M | 6.69M | 5.42M |
| Other Current Assets | 383.97M | 325.77M | 314.08M | 299.19M | 311.67M | 272.25M |
| Long-Term Deferred Tax Assets | 15.13M | 5.86M | 13.88M | 11.11M | 16.84M | |
| Other Long-Term Assets | 15.65M | 6.76M | 35.42M | 32.50M | 29.75M | 26.46M |
| Total Assets | 2.26B | 2.20B | 2.47B | 2.12B | 2.39B | 1.98B |
| Accounts Payable | 30.68M | 18.84M | 21.15M | 16.18M | 17.66M | 10.09M |
| Accrued Expenses | 8.70M | 28.23M | 26.94M | 28.99M | 25.89M | 27.22M |
| Unpaid Claims | 459.88M | 579.48M | 1.04B | 845.96M | 1.13B | 590.17M |
| Unearned Premiums | 735.16M | 727.09M | 717.89M | 699.82M | 725.91M | 655.33M |
| Reinsurance Payable | 339.14M | 232.80M | 227.06M | 159.82M | 199.80M | 191.73M |
| Current Portion of Long-Term Debt | 3.75M | |||||
| Current Portion of Leases | 4.96M | |||||
| Current Income Taxes Payable | 4.28M | 846.00K | ||||
| Long-Term Debt | 70.43M | 74.68M | 116.32M | 119.73M | 128.94M | 120.76M |
| Long-Term Leases | 19.68M | 16.42M | 25.02M | 28.46M | 31.25M | 31.17M |
| Long-Term Deferred Tax Liabilities | 9.43M | |||||
| Other Current Liabilities | 54.00K | 72.00K | 1.63M | |||
| Other Long-Term Liabilities | 36.00K | 213.00K | 274.00K | 229.00K | 195.00K | |
| Total Liabilities | 1.66B | 1.69B | 2.18B | 1.90B | 2.26B | 1.64B |
| Common Stock | 3.00K | 3.00K | 3.00K | 3.00K | 3.00K | 3.00K |
| Additional Paid-In Capital | 360.89M | 365.74M | 362.64M | 360.31M | 334.71M | 332.80M |
| Retained Earnings | 432.57M | 283.25M | 87.66M | 26.12M | -19.19M | 138.38M |
| Treasury Stock | -161.07M | -133.18M | -130.90M | -130.90M | -130.90M | -123.56M |
| Comprehensive Income & Other | -33.24M | -10.55M | -28.60M | -35.25M | -53.59M | -4.57M |
| Shareholders' Equity | 599.14M | 505.25M | 290.80M | 220.28M | 131.04M | 343.05M |
| Total Liabilities & Equity | 2.26B | 2.20B | 2.47B | 2.12B | 2.39B | 1.98B |
| Filing Date Shares Outstanding | 28.77M | 29.24M | 29.27M | 29.06M | 24.94M | 26.54M |
| Total Common Shares Outstanding | 28.77M | 29.35M | 29.27M | 29.06M | 24.89M | 26.52M |
| Total Debt | 90.12M | 99.81M | 141.34M | 148.19M | 160.19M | 151.93M |
| Net Cash (Debt) | 441.98M | 459.46M | 311.33M | 315.45M | 120.69M | 207.41M |
| Net Cash Per Share | 14.54 | 14.85 | 10.16 | 12.02 | 4.58 | 7.46 |
| Book Value Per Share | 20.83 | 17.21 | 9.93 | 7.58 | 5.26 | 12.94 |
| Tangible Book Value | 573.49M | 475.06M | 254.43M | 177.72M | 81.46M | 195.17M |
| Tangible Book Value Per Share | 19.93 | 16.18 | 8.69 | 6.12 | 3.27 | 7.36 |
| Land | 2.58M | 2.58M | 2.58M | 2.58M | ||
| Buildings | 9.60M | 9.60M | 9.60M | 10.14M | ||
| Machinery | 42.77M | 35.25M | 12.72M | 10.83M | 9.28M | |
| Construction In Progress | 14.45M | |||||
| Leasehold Improvements | 5.46M | 11.02M | 10.88M | 10.48M | 8.26M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 195.59M | 61.54M | 45.31M | -154.36M | -74.73M | |
| Depreciation & Amortization | 12.70M | 9.55M | 8.69M | 8.36M | 8.45M | |
| Other Amortization | 363.00K | 857.00K | 469.00K | 1.04M | 1.78M | |
| Gain (Loss) on Sale of Assets | -399.00K | 168.00K | ||||
| Gain (Loss) on Sale of Investments | -3.49M | -1.94M | -2.55M | 3.38M | 4.07M | |
| Stock-Based Compensation | 5.39M | 3.25M | 1.36M | 2.01M | 1.16M | |
| Change in Accounts Receivable | 6.41M | -12.70M | 2.40M | -20.82M | 5.55M | |
| Reinsurance Recoverable | 421.64M | -257.77M | 322.63M | -535.67M | 85.65M | |
| Change in Unearned Revenue | 9.19M | 18.07M | 16.66M | 68.23M | 27.04M | |
| Change in Income Taxes | 3.44M | 14.20M | -1.24M | -379.00K | 20.48M | |
| Change in Insurance Reserves / Liabilities | -463.21M | 196.73M | -285.85M | 541.64M | -69.17M | |
| Change in Other Net Operating Assets | -12.93M | -13.20M | 4.11M | -30.38M | -30.05M | |
| Other Operating Activities | 2.38M | -4.84M | 40.00K | -11.20M | -5.96M | |
| Operating Cash Flow | 182.24M | 87.09M | 70.42M | -34.26M | 60.13M | |
| Capital Expenditures | -8.07M | -8.23M | -9.89M | -12.38M | -1.01M | |
| Sale of Property, Plant & Equipment | 3.18M | |||||
| Investment in Securities | -32.45M | -83.73M | 109.62M | -40.42M | -125.87M | |
| Other Investing Activities | 4.67M | 359.00K | 1.08M | 14.95M | 2.40M | |
| Investing Cash Flow | -32.67M | -91.60M | 100.81M | -37.86M | -124.48M | |
| Long-Term Debt Issued | 5.50M | 35.00M | 2.78M | |||
| Total Debt Repaid | -36.05M | -9.77M | -9.68M | -27.85M | -4.93M | |
| Net Debt Issued (Repaid) | -36.05M | -4.27M | -9.68M | 7.15M | -2.15M | |
| Issuance of Common Stock | 24.67M | |||||
| Repurchases of Common Stock | -4.58M | -971.00K | -429.00K | -7.44M | -8.42M | |
| Common Dividends Paid | -11.00K | -4.77M | -6.71M | |||
| Other Financing Activities | 51.00K | |||||
| Financing Cash Flow | -40.63M | -5.19M | 14.55M | -5.06M | -17.28M | |
| Net Cash Flow | 108.94M | -9.69M | 185.77M | -77.18M | -81.63M | |
| Free Cash Flow | 174.16M | 78.86M | 60.52M | -46.64M | 59.12M | |
| Free Cash Flow Margin | 20.55% | 9.65% | 8.23% | -7.04% | 9.36% | |
| Free Cash Flow Per Share | 5.63 | 2.57 | 2.31 | -1.77 | 2.13 | |
| Levered Free Cash Flow | 130.41M | 67.06M | 17.03M | -20.02M | 67.19M | |
| Unlevered Free Cash Flow | 134.98M | 73.04M | 23.56M | -15.55M | 70.39M | |
| Cash Interest Paid | 6.89M | 9.47M | 9.31M | 7.84M | 5.28M | |
| Cash Income Tax Paid | 57.86M | 12.59M | 7.89M | -285.00K | 528.00K | |
| Change in Working Capital | -31.06M | 18.62M | 15.48M | 24.96M | 64.68M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.03B | 854.99M | 352.53M | 197.45M | 45.38M | 162.52M |
| Enterprise Value | 583.33M | 396.22M | -12.98M | 120.01M | -101.99M | -77.45M |
| PE Ratio | 5.02 | 4.37 | 5.73 | 4.36 | ||
| PS Ratio | 1.19 | 1.01 | 0.43 | 0.27 | 0.07 | 0.26 |
| PB Ratio | 1.71 | 1.69 | 1.21 | 0.90 | 0.35 | 0.47 |
| P/FCF Ratio | 3.44 | 4.91 | 4.47 | 3.26 | 2.75 | |
| P/OCF Ratio | 3.37 | 4.69 | 4.05 | 2.80 | 2.70 | |
| EV/Sales Ratio | 0.68 | 0.47 | 0.16 | |||
| EV/EBITDA Ratio | 1.91 | 1.42 | 1.65 | |||
| EV/EBIT Ratio | 1.99 | 1.48 | 1.88 | |||
| EV/FCF Ratio | 1.96 | 2.27 | 1.98 | |||
| Debt / Equity Ratio | 0.15 | 0.20 | 0.49 | 0.67 | 1.22 | 0.44 |
| Debt / EBITDA Ratio | 0.29 | 0.35 | 1.33 | 1.95 | 52.53 | |
| Debt / FCF Ratio | 0.57 | 1.79 | 2.45 | 2.57 | ||
| Net Debt / Equity Ratio | -0.74 | -0.91 | -1.07 | -1.43 | -0.92 | -0.60 |
| Net Debt / EBITDA Ratio | -1.45 | -1.64 | -3.02 | -4.34 | 2.12 | -234.36 |
| Net Debt / FCF Ratio | -2.64 | -3.95 | -5.21 | 2.59 | -3.51 | |
| Quick Ratio | 0.39 | 0.42 | 0.27 | 0.32 | 0.18 | 0.30 |
| Current Ratio | 0.79 | 0.83 | 0.80 | 0.78 | 0.72 | 0.67 |
| Asset Turnover | 0.37 | 0.36 | 0.36 | 0.33 | 0.30 | 0.31 |
| Return on Equity (ROE) | 41.68% | 49.14% | 24.08% | 25.79% | -65.12% | -19.03% |
| Return on Assets (ROA) | 7.92% | 7.16% | 2.55% | 1.77% | -1.87% | -0.23% |
| Return on Invested Capital (ROIC) | 32.78% | 38.86% | 17.41% | 16.90% | -16.64% | -1.42% |
| Earnings Yield | 19.92% | 22.88% | 17.46% | 22.95% | -340.19% | -45.98% |
| FCF Yield | 29.04% | 20.37% | 22.37% | 30.65% | -102.79% | 36.38% |
| Dividend Yield | 6.58% | 3.92% | ||||
| Payout Ratio | 0.02% | |||||
| Buyback Yield / Dilution | 1.63% | -0.96% | -16.77% | 0.35% | 5.25% | 0.66% |
| Total Shareholder Return | 1.63% | -0.96% | -16.77% | 0.35% | 11.84% | 4.58% |