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Donegal Group (DGICB) Financials

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Annual Income Statements for Donegal Group

Annual Income Statements for Donegal Group

This table shows Donegal Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -1.96 4.43 51
Consolidated Net Income / (Loss)		 -1.96 4.43 51
Net Income / (Loss) Continuing Operations		 -1.96 4.43 51
Total Pre-Tax Income 		-3.64 5.06 62
Total Revenue		 848 927 989
Net Interest Income / (Expense)		 -0.62 -0.62 -0.95
Total Interest Income		 0.00 0.00 0.00
Total Interest Expense		 0.62 0.62 0.95
Long-Term Debt Interest Expense		 0.62 0.62 0.95
Total Non-Interest Income		 848 927 990
Other Service Charges		 1.52 0.89 2.74
Net Realized & Unrealized Capital Gains on Investments		 24 44 50
Premiums Earned		 822 882 937
Other Non-Interest Income		 0.38 0.35 0.31
Total Non-Interest Expense		 851 922 926
Property & Liability Insurance Claims		 564 609 604
Insurance Policy Acquisition Costs		 143 157 159
Other Operating Expenses		 1.24 1.20 2.56
Amortization Expense		 142 154 160
Income Tax Expense		 -1.68 0.64 11
Basic Earnings per Share		 ($0.13) $0.25 $2.91
Weighted Average Basic Shares Outstanding		 32.74M 33.39M 35.64M
Diluted Earnings per Share		 ($0.13) $0.25 $2.91
Weighted Average Diluted Shares Outstanding		 32.74M 33.39M 35.64M
Weighted Average Basic & Diluted Shares Outstanding		 32.74M 33.39M 35.64M

Quarterly Income Statements for Donegal Group

This table shows Donegal Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -10 3.48 5.20 2.00 -0.81 -1.97 5.96 4.15 17 24
Consolidated Net Income / (Loss)		 -10 3.48 5.20 2.00 -0.81 -1.97 5.96 4.15 17 24
Net Income / (Loss) Continuing Operations		 -10 3.48 5.20 2.00 -0.81 -1.97 5.96 4.15 17 24
Total Pre-Tax Income 		-13 4.08 6.30 2.25 -1.00 -2.48 7.25 5.01 20 30
Total Revenue		 213 223 225 229 234 239 241 247 251 250
Net Interest Income / (Expense)		 -0.07 -0.16 -0.15 -0.15 -0.16 -0.16 -0.15 -0.15 -0.37 -0.27
Total Interest Expense		 0.07 0.16 0.15 0.15 0.16 0.16 0.15 0.15 0.37 0.27
Long-Term Debt Interest Expense		 0.07 0.16 0.15 0.15 0.16 0.16 0.15 0.15 0.37 0.27
Total Non-Interest Income		 213 223 225 229 234 239 241 247 252 250
Other Service Charges		 0.41 0.35 0.31 0.19 0.16 0.25 0.22 0.58 1.00 0.94
Net Realized & Unrealized Capital Gains on Investments		 6.21 10 9.12 13 9.29 13 13 12 13 12
Premiums Earned		 206 213 215 216 224 226 228 234 238 237
Other Non-Interest Income		 0.09 0.09 0.09 0.09 0.09 0.08 0.08 0.08 0.08 0.08
Total Non-Interest Expense		 226 219 218 227 235 242 234 242 231 220
Property & Liability Insurance Claims		 156 149 138 151 157 163 151 165 146 141
Insurance Policy Acquisition Costs		 35 33 42 37 39 39 43 35 43 38
Other Operating Expenses		 0.22 0.25 0.44 0.32 0.21 0.23 0.44 0.37 1.50 0.25
Amortization Expense		 36 38 38 38 39 39 40 41 40 40
Income Tax Expense		 -2.99 0.60 1.09 0.26 -0.20 -0.51 1.29 0.86 3.66 5.66
Basic Earnings per Share		 ($0.63) $0.18 $0.31 $0.11 ($0.04) ($0.13) $0.34 $0.24 $0.97 $1.36
Weighted Average Basic Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M
Diluted Earnings per Share		 ($0.63) $0.18 $0.31 $0.11 ($0.04) ($0.13) $0.34 $0.24 $0.97 $1.36
Weighted Average Diluted Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M
Weighted Average Basic & Diluted Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M

Annual Cash Flow Statements for Donegal Group

This table details how cash moves in and out of Donegal Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -33 -1.33 29
Net Cash From Operating Activities		 67 29 67
Net Cash From Continuing Operating Activities		 67 29 67
Net Income / (Loss) Continuing Operations		 -1.96 4.43 51
Consolidated Net Income / (Loss)		 -1.96 4.43 51
Depreciation Expense		 4.84 4.33 3.87
Non-Cash Adjustments to Reconcile Net Income		 10 -3.17 -4.98
Changes in Operating Assets and Liabilities, net		 54 23 18
Net Cash From Investing Activities		 -98 -17 -48
Net Cash From Continuing Investing Activities		 -98 -17 -48
Purchase of Investment Securities		 -287 -156 -205
Sale and/or Maturity of Investments		 189 139 157
Net Cash From Financing Activities		 -1.20 -13 9.73
Net Cash From Continuing Financing Activities		 -1.20 -13 9.73
Issuance of Common Equity		 19 8.65 32
Payment of Dividends		 -21 -22 -23

Quarterly Cash Flow Statements for Donegal Group

This table details how cash moves in and out of Donegal Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 4.85 -1.54 -2.29 1.91 -1.03 0.07 -3.99 4.42 4.43 24
Net Cash From Operating Activities		 15 17 -0.68 14 13 2.60 4.82 22 13 28
Net Cash From Continuing Operating Activities		 15 17 -0.68 14 13 2.60 4.82 22 13 28
Net Income / (Loss) Continuing Operations		 -10 3.48 5.20 2.00 -0.81 -1.97 5.96 4.15 17 24
Consolidated Net Income / (Loss)		 -10 3.48 5.20 2.00 -0.81 -1.97 5.96 4.15 17 24
Depreciation Expense		 1.14 1.09 1.12 1.07 1.02 1.11 0.97 0.93 0.98 1.00
Non-Cash Adjustments to Reconcile Net Income		 -12 14 0.33 -2.50 1.24 -2.24 -2.11 -0.74 -1.88 -0.26
Changes in Operating Assets and Liabilities, net		 36 -1.24 -7.34 13 12 5.70 0.01 17 -3.12 3.46
Net Cash From Investing Activities		 -7.95 -17 1.41 -9.65 -9.67 1.20 -3.82 -12 -6.74 -25
Net Cash From Continuing Investing Activities		 -7.95 -17 1.41 -9.65 -9.67 1.20 -3.82 -12 -6.74 -25
Purchase of Investment Securities		 -46 -81 -50 -42 -69 5.75 -46 -54 -49 -57
Sale and/or Maturity of Investments		 38 63 51 32 60 -4.55 42 42 42 32
Net Cash From Financing Activities		 -2.11 -1.30 -3.02 -2.18 -4.33 -3.72 -4.99 -5.13 -1.58 21
Net Cash From Continuing Financing Activities		 -2.11 -1.30 -3.02 -2.18 -4.33 -3.72 -4.99 -5.13 -1.58 21
Issuance of Common Equity		 3.13 3.96 2.29 3.32 1.20 1.83 0.59 0.54 4.10 27
Payment of Dividends		 -5.24 -5.26 -5.30 -5.50 -5.54 -5.55 -5.58 -5.67 -5.68 -5.77

Annual Balance Sheets for Donegal Group

This table presents Donegal Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 2,243 2,266 2,336
Cash and Due from Banks		 25 24 53
Trading Account Securities		 1,247 1,295 1,360
Loans and Leases, Net of Allowance		 0.00 0.00 0.00
Accrued Investment Income		 8.86 9.95 10
Customer and Other Receivables		 0.00 1.50 0.02
Premises and Equipment, Net		 2.76 2.63 2.48
Unearned Premiums Asset		 791 790 778
Deferred Acquisition Cost		 73 75 73
Goodwill		 5.63 5.63 5.63
Intangible Assets		 0.96 0.96 0.96
Other Assets		 89 60 43
Total Liabilities & Shareholders' Equity		 2,243 2,266 2,336
Total Liabilities		 1,760 1,787 1,790
Short-Term Debt		 35 35 35
Other Short-Term Payables		 9.52 9.52 2.92
Claims and Claim Expense		 1,121 1,126 1,121
Unearned Premiums Liability		 578 599 612
Other Long-Term Liabilities		 17 16 19
Total Equity & Noncontrolling Interests		 484 480 546
Total Preferred & Common Equity		 484 480 546
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 484 480 546
Common Stock		 326 336 370
Retained Earnings		 241 218 245
Treasury Stock		 -41 -41 -41
Accumulated Other Comprehensive Income / (Loss)		 -42 -33 -28

Quarterly Balance Sheets for Donegal Group

This table presents Donegal Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 2,237 2,279 2,289 2,260 2,294 2,335 2,346
Cash and Due from Banks		 27 23 25 24 20 24 29
Trading Account Securities		 1,244 1,278 1,285 1,286 1,313 1,327 1,353
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 9.82 10 9.45 10 10 10 11
Customer and Other Receivables		 3.27 2.48 0.00 0.00 0.03 0.00 0.00
Premises and Equipment, Net		 2.80 2.76 2.72 2.67 2.59 2.56 2.52
Unearned Premiums Asset		 799 821 821 800 808 831 814
Deferred Acquisition Cost		 74 77 79 78 79 81 78
Goodwill		 5.63 5.63 5.63 5.63 5.63 5.63 5.63
Intangible Assets		 0.96 0.96 0.96 0.96 0.96 0.96 0.96
Other Assets		 70 58 55 53 46 43 35
Total Liabilities & Shareholders' Equity		 2,237 2,279 2,289 2,260 2,294 2,335 2,346
Total Liabilities		 1,756 1,785 1,803 1,787 1,809 1,851 1,833
Short-Term Debt		 35 35 35 35 35 35 35
Other Short-Term Payables		 4.31 4.69 4.53 4.11 3.69 3.51 2.99
Claims and Claim Expense		 1,108 1,124 1,123 1,113 1,124 1,147 1,135
Unearned Premiums Liability		 595 610 624 617 634 654 647
Other Long-Term Liabilities		 13 12 6.86 7.45 12 12 13
Total Equity & Noncontrolling Interests		 481 494 486 473 485 484 513
Total Preferred & Common Equity		 481 494 486 473 485 484 513
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 481 494 486 473 485 484 513
Common Stock		 322 329 332 334 337 338 343
Retained Earnings		 248 244 240 231 224 222 233
Treasury Stock		 -41 -41 -41 -41 -41 -41 -41
Accumulated Other Comprehensive Income / (Loss)		 -47 -38 -45 -50 -34 -35 -21

Annual Metrics And Ratios for Donegal Group

This table displays calculated financial ratios and metrics derived from Donegal Group's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 3.93% 9.33% 6.68%
EBITDA Growth		 -96.67% 680.24% 605.14%
EBIT Growth		 -111.99% 239.18% 1,131.15%
NOPAT Growth		 -110.08% 273.78% 1,049.30%
Net Income Growth		 -107.76% 325.86% 1,049.30%
EPS Growth		 -108.28% 292.31% 1,064.00%
Operating Cash Flow Growth		 -12.54% -57.35% 135.61%
Free Cash Flow Firm Growth		 -32.98% -81.57% -283.35%
Invested Capital Growth		 -8.38% -0.74% 12.83%
Revenue Q/Q Growth		 1.57% 1.77% 1.06%
EBITDA Q/Q Growth		 -69.63% -40.82% 93.72%
EBIT Q/Q Growth		 -221.97% -56.19% 106.48%
NOPAT Q/Q Growth		 -202.83% -55.18% 104.35%
Net Income Q/Q Growth		 -1,078.02% -55.18% 104.35%
EPS Q/Q Growth		 0.00% -55.36% 104.93%
Operating Cash Flow Q/Q Growth		 -1.55% -33.80% 61.21%
Free Cash Flow Firm Q/Q Growth		 -19.96% -53.36% -0.18%
Invested Capital Q/Q Growth		 0.46% 1.26% 5.91%
Profitability Metrics		 - - -
EBITDA Margin		 0.14% 1.01% 6.70%
EBIT Margin		 -0.43% 0.55% 6.31%
Profit (Net Income) Margin		 -0.23% 0.48% 5.14%
Tax Burden Percent		 53.86% 87.40% 81.59%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 12.60% 18.41%
Return on Invested Capital (ROIC)		 -0.47% 0.86% 9.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.21% 0.86% 9.29%
Return on Net Nonoperating Assets (RNNOA)		 0.08% 0.06% 0.63%
Return on Equity (ROE)		 -0.39% 0.92% 9.92%
Cash Return on Invested Capital (CROIC)		 8.28% 1.60% -2.77%
Operating Return on Assets (OROA)		 -0.16% 0.22% 2.71%
Return on Assets (ROA)		 -0.09% 0.20% 2.21%
Return on Common Equity (ROCE)		 -0.39% 0.92% 9.92%
Return on Equity Simple (ROE_SIMPLE)		 -0.41% 0.92% 9.32%
Net Operating Profit after Tax (NOPAT)		 -2.55 4.43 51
NOPAT Margin		 -0.30% 0.48% 5.14%
Net Nonoperating Expense Percent (NNEP)		 -1.68% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 100.43% 99.45% 93.69%
Earnings before Interest and Taxes (EBIT)		 -3.64 5.06 62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.20 9.39 66
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.86 0.91 0.95
Price to Tangible Book Value (P/TBV)		 0.87 0.93 0.96
Price to Revenue (P/Rev)		 0.49 0.47 0.52
Price to Earnings (P/E)		 0.00 99.08 10.19
Dividend Yield		 5.12% 5.12% 4.50%
Earnings Yield		 0.00% 1.01% 9.81%
Enterprise Value to Invested Capital (EV/IC)		 0.82 0.87 0.86
Enterprise Value to Revenue (EV/Rev)		 0.50 0.49 0.51
Enterprise Value to EBITDA (EV/EBITDA)		 353.16 47.89 7.56
Enterprise Value to EBIT (EV/EBIT)		 0.00 88.81 8.03
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 101.61 9.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.33 15.71 7.42
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.47 54.36 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.07 0.07 0.06
Long-Term Debt to Equity		 0.00 0.00 0.00
Financial Leverage		 0.07 0.07 0.07
Leverage Ratio		 4.43 4.68 4.49
Compound Leverage Factor		 4.43 4.68 4.49
Debt to Total Capital		 6.75% 6.80% 6.03%
Short-Term Debt to Total Capital		 6.75% 6.80% 6.03%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 93.25% 93.20% 93.97%
Debt to EBITDA		 29.08 3.73 0.53
Net Debt to EBITDA		 8.21 1.19 -0.27
Long-Term Debt to EBITDA		 0.00 0.00 0.00
Debt to NOPAT		 -13.74 7.91 0.69
Net Debt to NOPAT		 -3.88 2.53 -0.35
Long-Term Debt to NOPAT		 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 45 8.27 -15
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 72.35 13.35 -16.03
Operating Cash Flow to Interest Expense		 108.14 46.18 71.29
Operating Cash Flow Less CapEx to Interest Expense		 108.14 46.18 71.29
Efficiency Ratios		 - - -
Asset Turnover		 0.38 0.41 0.43
Fixed Asset Turnover		 296.78 343.96 386.75
Capital & Investment Metrics		 - - -
Invested Capital		 519 515 581
Invested Capital Turnover		 1.56 1.79 1.80
Increase / (Decrease) in Invested Capital		 -47 -3.85 66
Enterprise Value (EV)		 425 450 500
Market Capitalization		 415 438 518
Book Value per Share		 $14.89 $14.43 $16.10
Tangible Book Value per Share		 $14.69 $14.23 $15.91
Total Capital		 519 515 581
Total Debt		 35 35 35
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 9.88 11 -18
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 -0.59 0.00 0.00
Net Nonoperating Obligations (NNO)		 35 35 35
Total Depreciation and Amortization (D&A)		 4.84 4.33 3.87
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($0.13) $0.25 $2.91
Adjusted Weighted Average Basic Shares Outstanding		 32.74M 33.39M 35.64M
Adjusted Diluted Earnings per Share		 ($0.13) $0.25 $2.91
Adjusted Weighted Average Diluted Shares Outstanding		 32.74M 33.39M 35.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.74M 33.39M 35.64M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.55 4.43 51
Normalized NOPAT Margin		 -0.30% 0.48% 5.14%
Pre Tax Income Margin		 -0.43% 0.55% 6.31%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 -5.86 8.17 65.90
NOPAT to Interest Expense		 -4.10 7.14 53.76
EBIT Less CapEx to Interest Expense		 -5.86 8.17 65.90
NOPAT Less CapEx to Interest Expense		 -4.10 7.14 53.76
Payout Ratios		 - - -
Dividend Payout Ratio		 -1,046.37% 494.72% 44.63%
Augmented Payout Ratio		 -1,046.37% 494.72% 44.63%

Quarterly Metrics And Ratios for Donegal Group

This table displays calculated financial ratios and metrics derived from Donegal Group's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 4.90% 6.25% 8.25% 12.24% 9.84% 7.21% 7.30% 7.67% 7.53% 4.33%
EBITDA Growth		 -68.37% -35.08% -57.77% 135.67% 100.15% -126.84% 10.73% 78.87% 114,347.65% 2,337.34%
EBIT Growth		 -54.09% -38.46% -61.20% 121.30% 92.44% -161.84% 15.12% 122.43% 2,131.15% 1,295.51%
NOPAT Growth		 -54.92% -34.01% -60.41% 126.97% 92.48% -149.93% 14.45% 107.91% 2,481.37% 1,481.78%
Net Income Growth		 -54.59% -34.01% -60.41% 124.34% 92.24% -156.63% 14.45% 107.91% 2,180.16% 1,318.26%
EPS Growth		 -50.00% -41.94% -62.20% 122.00% 93.65% -172.22% 9.68% 118.18% 2,525.00% 1,146.15%
Operating Cash Flow Growth		 2,196.14% -5.79% -103.28% -3.54% -12.99% -84.92% 807.79% 57.83% -1.79% 986.45%
Free Cash Flow Firm Growth		 219.39% 8.32% 55.35% -21.56% -84.95% -95.86% -59.81% -77.56% -425.11% -2,091.31%
Invested Capital Growth		 -9.93% -8.38% -5.49% -4.74% -1.52% -0.74% -1.60% -0.41% 7.87% 12.83%
Revenue Q/Q Growth		 4.30% 4.88% 0.62% 1.98% 2.07% 2.37% 0.70% 2.34% 1.93% -0.67%
EBITDA Q/Q Growth		 -30.49% 142.01% 45.29% -55.21% -99.44% -7,432.27% 699.45% -27.66% 259.93% 43.34%
EBIT Q/Q Growth		 -25.70% 130.17% 56.92% -64.21% -144.59% -146.94% 392.09% -30.85% 307.21% 45.34%
NOPAT Q/Q Growth		 -26.37% 137.18% 49.56% -61.61% -135.22% -146.94% 442.85% -30.27% 303.38% 43.28%
Net Income Q/Q Growth		 -26.42% 133.53% 49.56% -61.61% -140.32% -144.66% 402.28% -30.27% 303.38% 43.28%
EPS Q/Q Growth		 -26.00% 128.57% 72.22% -64.52% -136.36% -225.00% 361.54% -29.41% 304.17% 40.21%
Operating Cash Flow Q/Q Growth		 4.71% 15.43% -103.96% 2,117.80% -5.55% -79.99% 85.62% 349.96% -41.23% 121.35%
Free Cash Flow Firm Q/Q Growth		 33.56% 7.04% -29.49% -22.20% -74.37% -70.52% 583.75% -56.55% -471.25% -80.54%
Invested Capital Q/Q Growth		 -5.65% 0.46% 1.92% -1.39% -2.47% 1.26% 1.04% -0.19% 5.64% 5.91%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 -5.71% 2.29% 3.30% 1.45% 0.01% -0.57% 3.41% 2.41% 8.51% 12.28%
EBIT Margin		 -6.25% 1.80% 2.80% 0.98% -0.43% -1.04% 3.01% 2.03% 8.12% 11.88%
Profit (Net Income) Margin		 -4.88% 1.56% 2.32% 0.87% -0.34% -0.82% 2.47% 1.68% 6.66% 9.61%
Tax Burden Percent		 77.61% 85.19% 82.64% 88.64% 80.14% 79.40% 82.16% 82.85% 82.07% 80.91%
Interest Burden Percent		 100.54% 101.78% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 14.81% 17.36% 11.36% 0.00% 0.00% 17.84% 17.15% 17.93% 19.09%
Return on Invested Capital (ROIC)		 -6.74% 2.44% 3.68% 1.45% -0.53% -1.30% 4.45% 3.11% 12.34% 17.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 -9.64% 2.44% 3.68% 1.45% -0.83% -1.97% 4.45% 3.11% 12.34% 17.35%
Return on Net Nonoperating Assets (RNNOA)		 -0.66% 0.17% 0.25% 0.10% -0.06% -0.14% 0.32% 0.22% 0.88% 1.18%
Return on Equity (ROE)		 -7.40% 2.60% 3.94% 1.56% -0.60% -1.44% 4.76% 3.33% 13.21% 18.54%
Cash Return on Invested Capital (CROIC)		 10.30% 8.28% 3.90% 4.76% 3.46% 1.60% 2.60% 1.82% -2.87% -2.77%
Operating Return on Assets (OROA)		 -2.32% 0.68% 1.07% 0.39% -0.17% -0.43% 1.24% 0.84% 3.45% 5.10%
Return on Assets (ROA)		 -1.81% 0.59% 0.89% 0.34% -0.14% -0.34% 1.02% 0.70% 2.83% 4.13%
Return on Common Equity (ROCE)		 -7.40% 2.60% 3.94% 1.56% -0.60% -1.44% 4.76% 3.33% 13.21% 18.54%
Return on Equity Simple (ROE_SIMPLE)		 -0.03% 0.00% -2.01% 0.06% 2.09% 0.00% 1.07% 1.51% 4.85% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.36 3.48 5.20 2.00 -0.70 -1.74 5.96 4.15 17 24
NOPAT Margin		 -4.40% 1.56% 2.32% 0.87% -0.30% -0.73% 2.47% 1.68% 6.66% 9.61%
Net Nonoperating Expense Percent (NNEP)		 2.91% 0.00% 0.00% 0.00% 0.29% 0.67% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 106.25% 98.20% 97.20% 99.02% 100.43% 101.04% 96.99% 97.97% 91.88% 88.12%
Earnings before Interest and Taxes (EBIT)		 -13 4.01 6.30 2.25 -1.00 -2.48 7.25 5.01 20 30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -12 5.11 7.42 3.32 0.02 -1.37 8.22 5.94 21 31
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.83 0.86 0.94 0.92 0.94 0.91 0.95 0.88 0.95 0.95
Price to Tangible Book Value (P/TBV)		 0.84 0.87 0.96 0.93 0.95 0.93 0.96 0.89 0.96 0.96
Price to Revenue (P/Rev)		 0.48 0.49 0.54 0.50 0.49 0.47 0.49 0.44 0.50 0.52
Price to Earnings (P/E)		 0.00 0.00 0.00 1,471.04 45.09 99.08 88.98 57.97 19.60 10.19
Dividend Yield		 5.29% 5.12% 4.64% 4.89% 4.99% 5.12% 4.93% 5.36% 4.70% 4.50%
Earnings Yield		 0.00% 0.00% 0.00% 0.07% 2.22% 1.01% 1.12% 1.73% 5.10% 9.81%
Enterprise Value to Invested Capital (EV/IC)		 0.79 0.82 0.90 0.88 0.90 0.87 0.92 0.84 0.90 0.86
Enterprise Value to Revenue (EV/Rev)		 0.49 0.50 0.55 0.51 0.50 0.49 0.50 0.45 0.51 0.51
Enterprise Value to EBITDA (EV/EBITDA)		 102.36 353.16 0.00 124.05 28.77 47.89 46.72 34.03 14.46 7.56
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 39.50 88.81 79.11 49.67 16.37 8.03
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 46.23 101.61 91.92 59.44 19.86 9.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.95 6.33 10.47 10.14 10.56 15.71 13.95 10.36 11.82 7.42
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.23 9.47 22.55 18.01 25.74 54.36 34.86 46.12 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.06
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07
Leverage Ratio		 4.40 4.43 4.44 4.55 4.71 4.68 4.67 4.77 4.67 4.49
Compound Leverage Factor		 4.43 4.51 4.44 4.55 4.71 4.68 4.67 4.77 4.67 4.49
Debt to Total Capital		 6.78% 6.75% 6.62% 6.72% 6.89% 6.80% 6.73% 6.74% 6.38% 6.03%
Short-Term Debt to Total Capital		 6.78% 6.75% 6.62% 6.72% 6.89% 6.80% 6.73% 6.74% 6.38% 6.03%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 93.22% 93.25% 93.38% 93.28% 93.11% 93.20% 93.27% 93.26% 93.62% 93.97%
Debt to EBITDA		 8.83 29.08 -3.91 9.48 2.21 3.73 3.44 2.73 1.02 0.53
Net Debt to EBITDA		 2.10 8.21 -1.36 2.78 0.71 1.19 1.49 0.84 0.19 -0.27
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -41.62 -13.74 -3.69 -68.00 3.54 7.91 6.76 4.77 1.41 0.69
Net Debt to NOPAT		 -9.92 -3.88 -1.28 -19.92 1.14 2.53 2.93 1.47 0.26 -0.35
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 48 51 36 28 7.16 2.11 14 6.27 -23 -42
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 665.99 325.65 234.75 180.67 45.81 13.54 93.35 40.56 -63.33 -156.09
Operating Cash Flow to Interest Expense		 208.74 110.06 -4.45 88.83 82.99 16.65 31.17 140.24 34.66 104.74
Operating Cash Flow Less CapEx to Interest Expense		 208.74 110.06 -4.45 88.83 82.99 16.65 31.17 140.24 34.66 104.74
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.37 0.38 0.38 0.39 0.41 0.41 0.41 0.42 0.42 0.43
Fixed Asset Turnover		 273.71 296.78 306.52 320.19 332.85 343.96 352.48 364.50 376.94 386.75
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 516 519 529 521 508 515 520 519 548 581
Invested Capital Turnover		 1.53 1.56 1.59 1.67 1.78 1.79 1.80 1.85 1.85 1.80
Increase / (Decrease) in Invested Capital		 -57 -47 -31 -26 -7.86 -3.85 -8.48 -2.12 40 66
Enterprise Value (EV)		 406 425 478 458 457 450 476 436 494 500
Market Capitalization		 397 415 466 448 445 438 461 425 488 518
Book Value per Share		 $14.89 $14.89 $15.08 $14.77 $14.28 $14.43 $14.53 $14.50 $15.33 $16.10
Tangible Book Value per Share		 $14.68 $14.69 $14.87 $14.57 $14.08 $14.23 $14.33 $14.30 $15.14 $15.91
Total Capital		 516 519 529 521 508 515 520 519 548 581
Total Debt		 35 35 35 35 35 35 35 35 35 35
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 8.34 9.88 12 10 11 11 15 11 6.35 -18
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 1.02 0.00 0.00 0.00 0.10 0.23 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 35 35 35 35 35 35 35 35 35 35
Total Depreciation and Amortization (D&A)		 1.14 1.09 1.12 1.07 1.02 1.11 0.97 0.93 0.98 1.00
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.63) $0.18 $0.31 $0.11 ($0.04) ($0.13) $0.34 $0.24 $0.97 $1.36
Adjusted Weighted Average Basic Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M
Adjusted Diluted Earnings per Share		 ($0.63) $0.18 $0.31 $0.11 ($0.04) ($0.13) $0.34 $0.24 $0.97 $1.36
Adjusted Weighted Average Diluted Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.47M 32.74M 32.92M 33.14M 33.25M 33.39M 33.39M 33.48M 33.90M 35.64M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.36 3.48 5.20 2.00 -0.70 -1.74 5.96 4.15 17 24
Normalized NOPAT Margin		 -4.40% 1.56% 2.32% 0.87% -0.30% -0.73% 2.47% 1.68% 6.66% 9.61%
Pre Tax Income Margin		 -6.28% 1.83% 2.80% 0.98% -0.43% -1.04% 3.01% 2.03% 8.12% 11.88%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -186.17 25.66 41.16 14.57 -6.43 -15.92 46.89 32.42 55.53 110.18
NOPAT to Interest Expense		 -131.02 22.25 34.02 12.92 -4.50 -11.14 38.52 26.86 45.57 89.14
EBIT Less CapEx to Interest Expense		 -186.17 25.66 41.16 14.57 -6.43 -15.92 46.89 32.42 55.53 110.18
NOPAT Less CapEx to Interest Expense		 -131.02 22.25 34.02 12.92 -4.50 -11.14 38.52 26.86 45.57 89.14
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 -12,119.49% -1,046.37% -210.95% 6,998.13% 218.72% 494.72% 428.17% 304.66% 90.33% 44.63%
Augmented Payout Ratio		 -12,119.49% -1,046.37% -210.95% 6,998.13% 218.72% 494.72% 428.17% 304.66% 90.33% 44.63%

Financials Breakdown Chart

Key Financial Trends

Donegal Group Inc. (NASDAQ: DGICA) has shown meaningful financial performance improvements over the past several quarters leading into Q4 2024. Below are the summarized trends and data points extracted from its income statements, cash flow statements, and balance sheets spanning from Q3 2022 through Q4 2024.

  • Revenue Growth: Total Revenue increased from approximately $212.8 million in Q3 2022 to $249.7 million by Q4 2024, reflecting consistent growth over this period.
  • Improved Net Income: The company turned from losses in late 2022 (e.g., Q3 2022 net loss of -$10.4M) to sustained profitability in 2024, with Q4 2024 net income at $24.0 million.
  • EPS Growth: Basic and diluted earnings per share improved from negative in 2022 (e.g., -$0.63 in Q3 2022) to $1.36 in Q4 2024, showing enhanced shareholder value.
  • Strong Capital Gains: Net realized and unrealized capital gains on investments steadily increased to $12.3 million in Q4 2024 from about $6.2 million in Q3 2022, demonstrating effective investment management.
  • Growing Equity Base: Total common equity rose from approximately $481 million in Q3 2022 to $513 million by Q3 2024, reflecting strengthening book value.
  • Operating Cash Flows Expansion: Net cash from continuing operating activities increased significantly to $28.2 million in Q4 2024 from $15.0 million in Q3 2022, showing better operating cash generation.
  • Stable Premiums Earned: Premiums earned remained relatively consistent over time, around $210 - $240 million quarterly, indicating steady core insurance operations.
  • Consistent Debt Levels: Short-term debt remained stable at $35 million from 2022 to 2024 quarters, showing no major increase in leverage.
  • Increasing Non-Interest Expenses: Total non-interest expenses climbed from about $226.1 million in Q3 2022 to $220.0 million (Q4 2024) — including sizable amortization and claims expenses— which could pressure margins.
  • Negative Net Interest Income: The company recorded net interest expense consistently, reflecting interest paid on long-term debt, approximately $269,000 in Q4 2024, adding to costs.

Summary: Donegal Group demonstrates a solid recovery from losses in 2022, with rising revenues and net income through 2024. Improving EPS and cash flow metrics support a positive investment outlook, despite ongoing cost pressures from non-interest expenses and interest costs. Stable premiums and a healthy equity base provide a foundation for sustained insurance operations.

10/16/25 02:13 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Donegal Group's Financials

When does Donegal Group's financial year end?

According to the most recent income statement we have on file, Donegal Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Donegal Group's net income changed over the last 2 years?

Donegal Group's net income appears to be on an upward trend, with a most recent value of $50.86 million in 2024, falling from -$1.96 million in 2022. The previous period was $4.43 million in 2023.

How has Donegal Group's revenue changed over the last 2 years?

Over the last 2 years, Donegal Group's total revenue changed from $847.60 million in 2022 to $988.66 million in 2024, a change of 16.6%.

How much debt does Donegal Group have?

Donegal Group's total liabilities were at $1.79 billion at the end of 2024, a 0.2% increase from 2023, and a 1.7% increase since 2022.

How much cash does Donegal Group have?

In the past 2 years, Donegal Group's cash and equivalents has ranged from $23.79 million in 2023 to $52.93 million in 2024, and is currently $52.93 million as of their latest financial filing in 2024.

How has Donegal Group's book value per share changed over the last 2 years?

Over the last 2 years, Donegal Group's book value per share changed from 14.89 in 2022 to 16.10 in 2024, a change of 8.1%.


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This page (NASDAQ:DGICB) was last updated on 10/16/2025 by MarketBeat.com Staff
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