James River Group (JRVR) Financials

$4.46 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$4.47 +0.01 (+0.22%)

As of 07/2/2026 04:10 PM Eastern

Annual Income Statements for James River Group

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	53	74	44	64	38	4.82	-173	22	-118	-118	40
Consolidated Net Income / (Loss)	53	74	44	64	38	4.82	-173	31	-108	-81	47
Net Income / (Loss) Continuing Operations	53	74	44	64	38	4.82	-85	35	61	-63	50
Total Pre-Tax Income	60	79	55	71	52	12	-108	53	87	-71	51
Total Revenue	505	586	809	874	907	659	600	648	787	683	664
Net Interest Income / (Expense)	0.00	0.00	-8.97	-12	0.00	-10	-8.92	-14	-25	-25	-24
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	0.00	0.00	8.97	12	0.00	10	8.92	14	25	25	24
Long-Term Debt Interest Expense	-	-	8.97	12	-	10	8.92	14	25	25	24
Total Non-Interest Income	505	586	818	886	907	669	609	662	812	708	688
Other Service Charges	3.43	10	17	14	11	4.55	4.86	4.31	9.52	11	6.08
Net Realized & Unrealized Capital Gains on Investments	40	60	59	56	73	57	43	27	94	97	81
Premiums Earned	461	516	741	815	824	607	561	630	708	600	600
Total Non-Interest Expense	445	507	754	803	855	647	708	594	700	754	614
Property & Liability Insurance Claims	279	325	-	600	672	479	572	441	500	554	427
Other Operating Expenses	166	181	198	202	183	168	136	153	197	199	186
Amortization Expense	0.60	0.60	0.60	0.60	0.60	0.54	0.36	0.36	0.36	0.36	0.36
Impairment Charge	-	-	-	-	-	-	0.00	0.00	2.50	0.00	0.00
Income Tax Expense	6.28	4.87	12	7.01	14	7.11	-23	18	26	-7.63	0.72
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-88	-3.89	-169	-18	-2.39
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.00	8.75	11	37	7.88
Basic Earnings per Share	$1.87	$2.56	$1.48	$2.14	$1.27	$0.16	($4.94)	$0.59	($3.14)	($3.06)	$0.86
Weighted Average Basic Shares Outstanding	28.66M	29.06M	29.46M	29.89M	30.28M	30.55M	34.96M	37.44M	37.62M	38.69M	45.97M
Diluted Earnings per Share	$1.82	$2.49	$1.44	$2.11	$1.25	$0.16	($4.94)	$0.59	($3.13)	($3.06)	$0.79
Weighted Average Diluted Shares Outstanding	29.33M	29.89M	30.27M	30.31M	30.67M	30.88M	34.96M	37.65M	37.81M	38.69M	60.01M
Weighted Average Basic & Diluted Shares Outstanding	28.60M	29.10M	29.40M	-398.90M	30.52M	30.77M	37.45M	37.52M	37.66M	45.64M	45.97M
Cash Dividends to Common per Share	$1.64	$2.25	$1.70	$1.20	$1.20	$1.20	$1.20	$0.20	$0.20	$0.16	$0.04

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	17	-155	13	5.00	-42	-94	7.61	2.79	-0.95	30	-11
Consolidated Net Income / (Loss)	20	-153	15	7.63	-39	-65	9.57	4.76	1.02	32	-8.92
Net Income / (Loss) Continuing Operations	24	17	24	14	-38	-63	11	5.12	1.59	32	-8.77
Total Pre-Tax Income	31	27	33	20	-52	-72	16	7.33	2.65	25	-11
Total Revenue	204	209	195	182	185	121	167	169	167	162	146
Net Interest Income / (Expense)	-6.49	-6.56	-6.49	-6.34	-6.13	-5.71	-5.54	-5.81	-6.22	-5.97	-5.59
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	6.49	6.56	6.49	6.34	6.13	5.71	5.54	5.81	6.22	5.97	5.59
Long-Term Debt Interest Expense	6.49	6.56	6.49	6.34	6.13	5.71	5.54	5.81	6.22	5.97	5.59
Total Non-Interest Income	210	215	201	188	191	127	172	175	173	168	151
Other Service Charges	4.14	2.61	2.22	2.47	4.06	1.97	1.75	2.07	1.13	1.14	0.98
Net Realized & Unrealized Capital Gains on Investments	23	34	27	23	28	19	19	20	23	19	15
Premiums Earned	184	179	172	163	160	106	152	153	148	147	136
Total Non-Interest Expense	173	181	162	162	237	193	151	162	164	137	156
Property & Liability Insurance Claims	120	133	110	115	184	145	100	113	121	94	108
Other Operating Expenses	50	48	52	46	53	49	51	48	43	44	48
Amortization Expense	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Income Tax Expense	7.01	9.85	9.45	5.71	-14	-8.88	5.02	2.21	1.06	-7.56	-1.86
Net Income / (Loss) Discontinued Operations	-4.17	-170	-8.11	-6.85	-1.30	-1.37	-1.41	-0.36	-0.57	-0.05	-0.15
Preferred Stock Dividends Declared	2.63	2.63	2.63	2.63	2.63	29	1.97	1.97	1.97	1.97	1.97
Basic Earnings per Share	$0.45	($4.13)	$0.34	$0.13	($1.10)	($2.43)	$0.17	$0.06	($0.02)	$0.65	($0.23)
Weighted Average Basic Shares Outstanding	37.64M	37.62M	37.73M	37.87M	37.88M	38.69M	45.80M	46.03M	46.03M	45.97M	46.10M
Diluted Earnings per Share	$0.45	($4.11)	$0.35	$0.13	($1.10)	($2.44)	$0.16	$0.06	($0.02)	$0.59	($0.23)
Weighted Average Diluted Shares Outstanding	43.46M	37.81M	44.64M	38.04M	37.88M	38.69M	59.66M	46.73M	46.03M	60.01M	46.10M
Weighted Average Basic & Diluted Shares Outstanding	37.64M	37.66M	37.83M	37.83M	37.83M	45.64M	45.89M	45.92M	45.97M	45.97M	46.24M
Cash Dividends to Common per Share	$0.05	$0.05	$0.05	$0.05	$0.05	$0.01	$0.01	$0.01	$0.01	$0.01	$0.01

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	33	3.38	54	8.96	1,234	-384	-730	-16	84	31	-122
Net Cash From Operating Activities	120	154	208	290	1,489	-274	-914	223	88	-247	-19
Net Cash From Continuing Operating Activities	120	154	208	290	1,489	-273	-914	223	88	-247	-19
Net Income / (Loss) Continuing Operations	53	74	44	64	38	4.82	-173	31	-108	-81	47
Consolidated Net Income / (Loss)	53	74	44	64	38	4.82	-173	31	-108	-81	47
Depreciation Expense	2.00	2.41	2.12	4.22	4.06	5.02	4.72	1.05	-0.48	-0.71	-0.72
Amortization Expense	98	102	116	111	84	76	70	89	96	69	65
Non-Cash Adjustments to Reconcile Net Income	-85	-105	-122	-86	-89	-57	-103	-36	52	-68	-69
Changes in Operating Assets and Liabilities, net	52	81	168	197	1,452	-301	-712	138	48	-166	-62
Net Cash From Investing Activities	-34	-81	-105	-267	-263	-176	36	-328	17	307	-116
Net Cash From Continuing Investing Activities	-34	-81	-105	-267	-263	-176	36	-328	17	307	-116
Purchase of Property, Leasehold Improvements and Equipment	-	-	-	-	-0.52	-0.55	-6.30	-8.22	-6.43	-4.89	-4.80
Purchase of Investment Securities	-577	-497	-527	-682	-559	-643	-529	-809	-260	-329	-415
Divestitures	-	-	-	-	-	-	-	0.00	0.00	96	0.00
Sale and/or Maturity of Investments	542	416	425	412	288	470	570	496	280	545	313
Other Investing Activities, net	0.24	0.23	-2.53	3.19	7.28	-1.78	1.63	-6.68	3.50	-0.17	-8.47
Net Cash From Financing Activities	-53	-70	-49	-14	7.96	66	148	90	-21	-29	13
Net Cash From Continuing Financing Activities	-53	-70	-49	-14	7.96	66	148	90	-21	-29	13
Issuance of Debt	10	0.00	10	20	60	164	-	-	0.00	0.00	25
Issuance of Common Equity	1.73	2.26	1.71	5.17	8.29	2.58	194	0.00	0.00	13	0.00
Repayment of Debt	-10	-	0.00	0.00	-20	-60	0.00	-40	-1.14	-22	-1.18
Payment of Dividends	-47	-66	-51	-36	-37	-37	-43	-14	-18	-19	-9.87
Other Financing Activities, Net	-0.65	-1.57	-0.79	-1.10	-0.71	-	-3.08	-1.30	-1.73	-0.85	-0.75
Cash Interest Paid	7.34	8.12	8.91	11	12	11	9.93	17	31	29	26
Cash Income Taxes Paid	-2.83	-0.06	9.85	8.17	19	17	-3.93	-3.47	45	25	-22

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	7.04	20	66	274	-312	2.91	-83	-59	19	1.04	-33
Net Cash From Operating Activities	55	-9.80	24	-8.68	-270	7.47	-51	25	34	-27	-0.68
Net Cash From Continuing Operating Activities	-	88	0.00	-	-	-247	0.00	-	-	-19	0.00
Net Income / (Loss) Continuing Operations	-	-108	0.00	-	-	-81	0.00	-	-	47	0.00
Net Cash From Investing Activities	-45	35	47	309	-35	-14	-53	-81	-13	30	-29
Net Cash From Continuing Investing Activities	-45	35	47	309	-35	81	-53	-81	-13	30	-29
Purchase of Property, Leasehold Improvements and Equipment	-1.13	-3.13	-0.75	-0.58	-0.83	-2.73	-1.22	-0.46	-0.66	-2.46	-0.08
Purchase of Investment Securities	-126	-51	-79	-17	-107	-132	-121	-149	-90	-55	-129
Sale and/or Maturity of Investments	76	94	126	237	68	118	68	63	77	105	81
Other Investing Activities, net	5.75	-5.88	0.72	-7.10	4.93	1.29	1.72	5.98	0.75	-17	18
Net Cash From Financing Activities	-3.00	-4.78	-5.46	-26	-7.15	9.79	22	-3.57	-2.58	-2.54	-3.16
Net Cash From Continuing Financing Activities	-3.00	-4.78	-5.46	-26	-7.15	9.79	22	-3.57	-2.58	-2.54	-3.16
Issuance of Debt	-	-	0.00	-	-	-	25	-	-	-	0.00
Payment of Dividends	-1.88	-4.56	-4.63	-4.52	-7.14	-2.71	-2.57	-2.43	-2.44	-2.44	-2.49
Other Financing Activities, Net	-0.01	-0.22	-0.82	-0.01	-0.00	-0.01	-0.55	-0.01	-0.10	-0.10	-0.67
Cash Interest Paid	7.87	7.95	7.80	7.83	6.81	6.31	6.13	5.57	7.50	6.50	6.12

This table presents James River 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,055	2,347	2,757	3,137	5,024	5,063	4,949	5,137	5,317	5,007	4,860
Cash and Due from Banks	106	110	-	172	207	162	190	159	274	362	261
Restricted Cash	-	-	-	-	1,199	860	102	103	72	29	8.48
Trading Account Securities	-	-	-	1,263	1,514	1,873	1,786	1,286	1,444	1,276	1,478
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	-	-	-	11	14	11	11	9.77	12	11	13
Unearned Premiums Asset	-	-	-	420	548	613	685	509	543	541	358
Deferred Acquisition Cost	61	65	72	54	62	63	69	33	31	30	31
Goodwill	182	182	182	182	182	182	182	182	182	182	182
Intangible Assets	40	39	38	38	37	36	36	36	33	32	32
Other Assets	132	183	303	996	1,261	1,263	1,888	2,819	2,725	2,544	2,497
Total Liabilities & Shareholders' Equity	785	944	1,292	3,137	5,024	5,063	4,949	5,137	5,317	5,007	4,860
Total Liabilities	785	944	1,292	2,428	4,246	4,267	4,223	4,438	4,638	4,413	4,189
Short-Term Debt	-	-	-	-	-	262	262	222	222	201	226
Other Short-Term Payables	-	-	-	52	-	56	58	57	57	53	31
Long-Term Debt	-	-	-	222	262	104	104	104	104	104	104
Claims and Claim Expense	785	944	1,292	1,661	2,046	2,192	2,748	2,341	2,606	3,084	3,099
Unearned Premiums Liability	-	-	-	386	524	630	728	578	588	572	448
Other Long-Term Liabilities	-	-	-	105	1,414	1,023	323	1,120	1,040	399	281
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	0.00	145	145	133	133
Total Equity & Noncontrolling Interests	0.00	0.00	0.00	709	779	796	725	554	535	461	538
Total Preferred & Common Equity	681	693	695	709	779	796	725	554	535	461	538
Preferred Stock	-	-	-	0.00	0.00	0.00	-	-	0.00	0.00	0.00
Total Common Equity	0.00	0.00	0.00	709	779	796	725	554	535	461	538
Common Stock	-	-	-	645	658	664	862	869	876	933	938
Retained Earnings	-	-	-	80	90	49	-167	-152	-278	-402	-365
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-16	31	82	30	-163	-64	-70	-35

This table presents James River 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 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,193	5,251	4,738	4,959	4,949	5,018	4,950	4,762
Cash and Due from Banks	233	305	673	360	279	220	239	228
Restricted Cash	107	73	28	28	29	29	30	8.56
Trading Account Securities	1,952	1,416	1,243	1,346	1,347	1,388	1,481	1,507
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	17	12	9.85	10	11	12	12	13
Unearned Premiums Asset	587	511	570	513	481	544	396	307
Deferred Acquisition Cost	42	27	27	27	28	31	30	30
Goodwill	182	182	182	182	182	182	182	182
Intangible Assets	33	33	33	33	32	32	32	32
Other Assets	2,041	2,692	1,973	2,459	2,560	2,580	2,550	2,455
Total Liabilities & Shareholders' Equity	5,193	5,251	4,738	4,959	4,949	5,018	4,950	4,762
Total Liabilities	4,486	4,566	4,052	4,283	4,331	4,393	4,314	4,110
Short-Term Debt	222	222	201	201	226	226	226	226
Other Short-Term Payables	56	43	48	52	-	-	38	17
Long-Term Debt	104	104	104	104	104	104	104	104
Claims and Claim Expense	2,887	2,662	2,720	3,002	3,082	3,076	3,117	3,088
Unearned Premiums Liability	617	551	601	577	527	571	489	407
Other Long-Term Liabilities	562	968	365	317	394	415	340	268
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	145	145	145	145	133	133	133	133
Total Equity & Noncontrolling Interests	563	540	542	530	484	493	504	518
Total Preferred & Common Equity	563	540	542	530	484	493	504	518
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00
Total Common Equity	563	540	542	530	484	493	504	518
Common Stock	875	878	880	881	935	936	937	938
Retained Earnings	-123	-267	-264	-308	-395	-393	-394	-376
Accumulated Other Comprehensive Income / (Loss)	-189	-71	-74	-43	-56	-51	-39	-44

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	28,769,487.00	29,116,496.00	29,607,305.00	29,953,371.00	30,405,422.00	30,610,153.00	37,291,149.00	37,460,041.00	37,639,568.00	-	45,965,839.00
DEI Adjusted Shares Outstanding	28,769,487.00	29,116,496.00	29,607,305.00	29,953,371.00	30,405,422.00	30,610,153.00	37,291,149.00	37,460,041.00	37,639,568.00	-	45,965,839.00
DEI Earnings Per Adjusted Shares Outstanding	1.86	2.56	1.47	2.13	1.26	0.16	-4.63	0.83	-2.86	-	1.03
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.02%	16.10%	37.94%	8.09%	3.78%	-27.39%	-8.89%	7.92%	21.58%	-13.26%	-2.77%
EBITDA Growth	19.44%	14.95%	-5.51%	7.44%	-24.89%	-33.82%	-136.48%	523.36%	27.99%	-101.40%	4,588.59%
EBIT Growth	31.02%	32.73%	-30.50%	28.46%	-26.78%	-76.99%	-1,005.84%	149.27%	63.15%	-181.83%	171.07%
NOPAT Growth	19.72%	39.21%	-41.50%	46.51%	-39.94%	-87.42%	-1,669.05%	146.05%	75.60%	-181.33%	200.07%
Net Income Growth	19.72%	39.21%	-41.50%	46.51%	-39.94%	-87.42%	-3,682.07%	117.92%	-447.67%	24.67%	158.47%
EPS Growth	17.42%	36.81%	-42.17%	46.53%	-40.76%	-87.20%	-3,187.50%	111.94%	-630.51%	2.24%	125.82%
Operating Cash Flow Growth	-7.99%	28.66%	34.64%	39.56%	413.41%	-118.39%	-233.62%	124.38%	-60.51%	-380.93%	92.40%
Free Cash Flow Firm Growth	169.31%	-320.47%	68.78%	3,393.84%	-111.90%	-63.66%	95.31%	1,965.12%	-20.88%	-28.81%	-191.63%
Invested Capital Growth	2.19%	10.43%	4.40%	-36.38%	11.74%	11.63%	-6.05%	-6.11%	-1.87%	-10.64%	11.37%
Revenue Q/Q Growth	0.26%	8.10%	5.20%	-0.35%	5.02%	-8.99%	-19.23%	3.30%	22.89%	-11.37%	6.54%
EBITDA Q/Q Growth	207.82%	171.56%	125.43%	189.27%	280.64%	57.59%	76.98%	185.47%	114.98%	-108.91%	350.98%
EBIT Q/Q Growth	16.69%	18.54%	-27.69%	11.11%	43.53%	-79.46%	26.44%	7.20%	2.60%	-349.90%	209.19%
NOPAT Q/Q Growth	7.66%	21.15%	-36.87%	21.76%	29.96%	-89.41%	26.44%	0.00%	-6.36%	-386.72%	253.75%
Net Income Q/Q Growth	7.66%	21.15%	-36.87%	21.76%	29.96%	-89.41%	-36.32%	158.39%	-271.48%	52.03%	195.98%
EPS Q/Q Growth	7.69%	20.87%	-37.12%	21.97%	28.87%	-89.12%	-21.98%	144.03%	-326.81%	35.31%	135.27%
Operating Cash Flow Q/Q Growth	-7.99%	-24.30%	8.56%	-14.38%	491.11%	-126.00%	17.93%	-29.49%	-42.27%	6.53%	-221.40%
Free Cash Flow Firm Q/Q Growth	0.00%	-232.82%	-119.31%	219.33%	-113.55%	7.69%	96.11%	-53.16%	171.24%	-19.50%	-177.18%
Invested Capital Q/Q Growth	38.01%	49.52%	60.33%	-36.44%	7.17%	1.68%	-7.48%	2.70%	-2.70%	-8.29%	3.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	31.60%	31.28%	21.43%	21.30%	15.41%	14.05%	-5.62%	22.06%	23.23%	-0.38%	17.36%
EBIT Margin	11.84%	13.53%	6.82%	8.10%	5.72%	1.81%	-18.02%	8.23%	11.04%	-10.41%	7.61%
Profit (Net Income) Margin	10.60%	12.70%	5.39%	7.30%	4.23%	0.73%	-28.79%	4.78%	-13.68%	-11.88%	7.14%
Tax Burden Percent	89.50%	93.86%	79.00%	90.11%	73.92%	40.41%	159.81%	58.14%	-123.90%	114.06%	93.84%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	10.50%	6.14%	21.00%	9.89%	26.08%	59.59%	0.00%	34.57%	29.58%	0.00%	1.43%
Return on Invested Capital (ROIC)	4.26%	5.57%	3.04%	5.33%	3.89%	0.44%	-6.72%	3.29%	6.03%	-5.23%	5.24%
ROIC Less NNEP Spread (ROIC-NNEP)	4.26%	5.57%	3.04%	5.33%	3.89%	0.44%	-33.22%	2.17%	-45.72%	-15.16%	4.49%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	12.67%	1.27%	0.17%	-16.01%	1.06%	-21.65%	-7.51%	2.25%
Return on Equity (ROE)	0.00%	0.00%	0.00%	18.00%	5.15%	0.61%	-22.72%	4.35%	-15.63%	-12.74%	7.50%
Cash Return on Invested Capital (CROIC)	2.09%	-4.34%	-1.26%	49.80%	-7.20%	-10.55%	-0.48%	9.60%	7.91%	6.01%	-5.52%
Operating Return on Assets (OROA)	2.98%	3.60%	2.16%	2.40%	1.27%	0.24%	-2.16%	1.06%	1.66%	-1.38%	1.02%
Return on Assets (ROA)	2.67%	3.38%	1.71%	2.17%	0.94%	0.10%	-3.45%	0.61%	-2.06%	-1.57%	0.96%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	18.00%	5.15%	0.61%	-22.72%	3.91%	-12.34%	-9.96%	5.92%
Return on Equity Simple (ROE_SIMPLE)	7.86%	10.74%	6.27%	9.00%	4.92%	0.61%	-23.82%	5.59%	-20.14%	-17.60%	8.81%
Net Operating Profit after Tax (NOPAT)	53	74	44	64	38	4.82	-76	35	61	-50	50
NOPAT Margin	10.60%	12.70%	5.39%	7.30%	4.23%	0.73%	-12.61%	5.38%	7.77%	-7.29%	7.50%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	26.51%	1.12%	51.75%	9.93%	0.75%
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%	0.00%
Operating Expenses to Revenue	88.16%	86.47%	93.18%	91.90%	94.28%	98.19%	118.02%	91.77%	88.96%	110.41%	92.39%
Earnings before Interest and Taxes (EBIT)	60	79	55	71	52	12	-108	53	87	-71	51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	160	183	173	186	140	93	-34	143	183	-2.57	115
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	1.36	1.46	1.76	1.43	1.37	0.63	0.40	0.54
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	1.97	2.03	2.43	2.05	2.25	1.05	0.75	0.90
Price to Revenue (P/Rev)	1.47	1.69	1.25	1.10	1.25	2.13	1.73	1.17	0.43	0.27	0.44
Price to Earnings (P/E)	13.92	13.30	23.23	15.12	29.61	290.97	0.00	34.03	0.00	0.00	7.38
Dividend Yield	5.72%	5.73%	4.10%	3.72%	3.21%	2.62%	4.31%	0.99%	2.23%	3.29%	0.63%
Earnings Yield	7.18%	7.52%	4.30%	6.61%	3.38%	0.34%	0.00%	2.94%	0.00%	0.00%	13.55%
Enterprise Value to Invested Capital (EV/IC)	0.50	0.63	0.69	1.09	0.00	0.64	1.02	0.94	0.46	0.26	0.48
Enterprise Value to Revenue (EV/Rev)	1.26	1.50	1.25	1.16	0.00	1.14	1.85	1.49	0.59	0.34	0.73
Enterprise Value to EBITDA (EV/EBITDA)	4.00	4.80	5.84	5.45	0.00	8.08	0.00	6.75	2.53	0.00	4.21
Enterprise Value to EBIT (EV/EBIT)	10.68	11.10	18.35	14.33	0.00	62.65	0.00	18.12	5.31	0.00	9.60
Enterprise Value to NOPAT (EV/NOPAT)	11.93	11.83	23.23	15.90	0.00	155.02	0.00	27.69	7.55	0.00	9.74
Enterprise Value to Operating Cash Flow (EV/OCF)	5.32	5.71	4.87	3.50	0.00	0.00	0.00	4.33	5.25	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	24.25	0.00	0.00	1.70	0.00	0.00	0.00	9.50	5.75	4.04	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.31	0.34	0.46	0.51	0.47	0.48	0.51	0.49
Long-Term Debt to Equity	0.00	0.00	0.00	0.31	0.34	0.13	0.14	0.15	0.15	0.18	0.16
Financial Leverage	0.00	0.00	0.00	2.38	0.33	0.40	0.48	0.49	0.47	0.50	0.50
Leverage Ratio	0.00	0.00	0.00	8.31	5.49	6.41	6.58	7.08	7.59	8.11	7.80
Compound Leverage Factor	0.00	0.00	0.00	8.31	5.49	6.41	6.58	7.08	7.59	8.11	7.80
Debt to Total Capital	0.00%	0.00%	0.00%	23.87%	25.20%	31.53%	33.56%	31.84%	32.44%	33.91%	32.95%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	22.57%	24.03%	21.69%	22.10%	22.34%	22.55%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	23.87%	25.20%	8.96%	9.53%	10.15%	10.34%	11.58%	10.39%
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%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.14%	14.41%	14.81%	13.30%
Common Equity to Total Capital	0.00%	0.00%	0.00%	76.13%	74.80%	68.47%	66.44%	54.02%	53.15%	51.28%	53.75%
Debt to EBITDA	0.00	0.00	0.00	1.19	1.88	3.96	-10.85	2.28	1.78	-118.71	2.86
Net Debt to EBITDA	0.00	0.00	0.00	0.27	-8.18	-7.09	-2.20	0.45	-0.11	33.57	0.52
Long-Term Debt to EBITDA	0.00	0.00	0.00	1.19	1.88	1.12	-3.08	0.73	0.57	-40.52	0.90
Debt to NOPAT	0.00	0.00	0.00	3.48	6.84	75.94	-4.84	9.36	5.33	-6.12	6.62
Net Debt to NOPAT	0.00	0.00	0.00	0.78	-29.83	-135.95	-0.98	1.83	-0.33	1.73	1.21
Long-Term Debt to NOPAT	0.00	0.00	0.00	3.48	6.84	21.57	-1.37	2.99	1.70	-2.09	2.09
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.18%	21.03%	21.83%	21.04%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	26	-58	-18	597	-71	-116	-5.45	102	80	57	-52
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	286,902.12%	-49,877.96%	-14,493.83%	2,709.99%	1,367.00%	-5,052.86%	-391.29%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-2.02	51.64	0.00	-11.58	-0.61	7.32	3.26	2.32	-2.23
Operating Cash Flow to Interest Expense	0.00	0.00	23.16	25.10	0.00	-27.29	-102.39	16.06	3.57	-10.02	-0.80
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	23.16	25.10	0.00	-27.35	-103.10	15.46	3.31	-10.22	-1.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.27	0.32	0.30	0.22	0.13	0.12	0.13	0.15	0.13	0.13
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,270	1,403	1,464	932	1,041	1,162	1,092	1,025	1,006	899	1,001
Invested Capital Turnover	0.40	0.44	0.56	0.73	0.92	0.60	0.53	0.61	0.78	0.72	0.70
Increase / (Decrease) in Invested Capital	27	132	62	-533	109	121	-70	-67	-19	-107	102
Enterprise Value (EV)	638	881	1,012	1,015	-8.41	748	1,112	965	462	231	485
Market Capitalization	745	991	1,012	965	1,135	1,404	1,038	756	337	184	292
Book Value per Share	$0.00	$0.00	$0.00	$23.68	$25.61	$25.99	$19.45	$14.78	$14.20	$12.18	$11.71
Tangible Book Value per Share	($7.69)	($7.58)	($7.44)	$16.35	$18.41	$18.86	$13.61	$8.98	$8.50	$6.52	$7.05
Total Capital	0.00	0.00	0.00	932	1,041	1,162	1,092	1,025	1,006	899	1,001
Total Debt	0.00	0.00	0.00	222	262	366	366	326	326	305	330
Total Long-Term Debt	0.00	0.00	0.00	222	262	104	104	104	104	104	104
Net Debt	-106	-110	0.00	50	-1,144	-656	74	64	-20	-86	60
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.52	0.55	6.30	8.22	6.43	4.89	4.80
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	97	3.89	169	31	2.39
Net Nonoperating Obligations (NNO)	1,270	1,403	1,464	222	262	366	366	326	326	305	330
Total Depreciation and Amortization (D&A)	100	104	118	115	88	81	74	90	96	69	65
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.87	$2.56	$1.48	$2.14	$1.27	$0.16	($4.94)	$0.59	($3.14)	($3.06)	$0.86
Adjusted Weighted Average Basic Shares Outstanding	28.66M	29.06M	29.46M	29.89M	30.28M	30.55M	34.96M	37.44M	37.62M	38.69M	45.97M
Adjusted Diluted Earnings per Share	$1.82	$2.49	$1.44	$2.11	$1.25	$0.16	($4.94)	$0.59	($3.13)	($3.06)	$0.79
Adjusted Weighted Average Diluted Shares Outstanding	29.33M	29.89M	30.27M	30.31M	30.67M	30.88M	34.96M	37.65M	37.81M	38.69M	60.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.27	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.94M	29.32M	29.74M	30.07M	30.52M	30.77M	37.45M	37.52M	37.66M	45.64M	45.97M
Normalized Net Operating Profit after Tax (NOPAT)	53	74	44	64	38	8.36	-76	35	63	-50	50
Normalized NOPAT Margin	10.60%	12.70%	5.39%	7.30%	4.23%	1.27%	-12.61%	5.38%	8.00%	-7.29%	7.50%
Pre Tax Income Margin	11.84%	13.53%	6.82%	8.10%	5.72%	1.81%	-18.02%	8.23%	11.04%	-10.41%	7.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	6.15	6.13	0.00	1.19	-12.12	3.84	3.53	-2.88	2.15
NOPAT to Interest Expense	0.00	0.00	4.85	5.53	0.00	0.48	-8.48	2.51	2.49	-2.02	2.12
EBIT Less CapEx to Interest Expense	0.00	0.00	6.15	6.13	0.00	1.14	-12.83	3.25	3.27	-3.08	1.94
NOPAT Less CapEx to Interest Expense	0.00	0.00	4.85	5.53	0.00	0.43	-9.19	1.92	2.22	-2.22	1.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	88.61%	88.61%	116.68%	56.59%	95.78%	768.06%	-25.02%	44.95%	-16.94%	-23.42%	20.82%
Augmented Payout Ratio	100.69%	95.20%	138.36%	60.10%	103.34%	842.77%	-25.02%	44.95%	-16.94%	-23.42%	20.82%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	75,239,498.00	37,639,568.00	37,660,083.00	37,825,767.00	37,825,767.00	-	45,644,318.00	45,893,162.00	45,916,453.00	45,965,839.00	45,968,584.00
DEI Adjusted Shares Outstanding	75,239,498.00	37,639,568.00	37,660,083.00	37,825,767.00	37,825,767.00	-	45,644,318.00	45,893,162.00	45,916,453.00	45,965,839.00	45,968,584.00
DEI Earnings Per Adjusted Shares Outstanding	0.26	-4.06	0.41	0.20	-1.04	-	0.21	0.10	0.02	0.70	-0.19
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.29%	236.74%	4.56%	-3.62%	-9.06%	-42.00%	-14.33%	-7.09%	-10.17%	33.70%	-12.57%
EBITDA Growth	7,118.97%	8.75%	196.93%	13.11%	-268.37%	-363.53%	-51.29%	-63.42%	105.28%	134.14%	-165.49%
EBIT Growth	9,020.18%	8.78%	198.55%	13.18%	-269.16%	-364.74%	-51.43%	-63.71%	105.10%	133.97%	-166.43%
NOPAT Growth	834.63%	-19.23%	197.42%	19.37%	-253.42%	-389.87%	-53.26%	-64.64%	104.38%	163.48%	-167.75%
Net Income Growth	523.09%	-961.82%	60.31%	-52.09%	-301.43%	57.60%	-37.84%	-37.59%	102.59%	149.52%	-193.20%
EPS Growth	336.84%	-1,127.50%	94.44%	-62.86%	-344.44%	40.63%	-54.29%	-53.85%	98.18%	124.18%	-243.75%
Operating Cash Flow Growth	91.37%	-117.94%	23.79%	-137.47%	-589.66%	176.19%	-313.74%	389.76%	112.71%	-458.96%	98.67%
Free Cash Flow Firm Growth	-106.72%	-58.56%	15.80%	280.15%	243.98%	54.09%	-0.75%	-48.41%	-12.82%	-224.34%	-155.67%
Invested Capital Growth	3.58%	-1.87%	-4.84%	-6.17%	-5.19%	-10.64%	-6.27%	-3.63%	-1.38%	11.37%	3.58%
Revenue Q/Q Growth	7.97%	2.35%	-6.70%	-6.52%	1.88%	-34.72%	37.80%	1.37%	-1.49%	-2.84%	-9.88%
EBITDA Q/Q Growth	71.93%	-11.14%	20.66%	-38.64%	-355.92%	-39.09%	122.30%	-53.93%	-63.04%	798.83%	-142.78%
EBIT Q/Q Growth	72.30%	-11.17%	20.73%	-38.75%	-357.52%	-39.02%	122.15%	-54.23%	-63.81%	825.91%	-143.31%
NOPAT Q/Q Growth	95.58%	-26.42%	34.69%	-38.41%	-351.37%	-39.02%	121.72%	-53.40%	-68.89%	1,916.26%	-123.18%
Net Income Q/Q Growth	22.85%	-881.33%	110.08%	-50.50%	-616.47%	-64.46%	114.78%	-50.29%	-78.55%	3,041.33%	-127.82%
EPS Q/Q Growth	28.57%	-1,013.33%	108.52%	-62.86%	-946.15%	-121.82%	106.56%	-62.50%	-133.33%	3,050.00%	-138.98%
Operating Cash Flow Q/Q Growth	137.95%	-117.77%	345.75%	-136.06%	-3,009.27%	102.77%	-789.44%	148.88%	36.42%	-178.08%	97.45%
Free Cash Flow Firm Q/Q Growth	-157.30%	404.53%	104.61%	6.47%	-78.30%	225.92%	31.80%	-44.66%	-63.33%	-564.83%	40.99%
Invested Capital Q/Q Growth	-2.18%	-2.70%	0.49%	-1.90%	-1.15%	-8.29%	5.40%	0.85%	1.16%	3.57%	-1.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	15.12%	13.13%	16.98%	11.15%	-28.00%	-59.66%	9.66%	4.39%	1.65%	15.23%	-7.23%
EBIT Margin	15.08%	13.09%	16.93%	11.10%	-28.05%	-59.73%	9.60%	4.33%	1.59%	15.18%	-7.29%
Profit (Net Income) Margin	9.59%	-73.23%	7.91%	4.19%	-21.24%	-53.52%	5.74%	2.82%	0.61%	19.83%	-6.12%
Tax Burden Percent	63.61%	-559.53%	46.73%	37.77%	75.75%	89.61%	59.80%	64.95%	38.50%	130.62%	83.90%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	22.82%	36.07%	28.68%	28.29%	0.00%	0.00%	31.36%	30.12%	39.93%	-30.80%	0.00%
Return on Invested Capital (ROIC)	7.34%	6.49%	9.27%	6.13%	-15.02%	-29.98%	4.41%	2.00%	0.61%	13.88%	-3.41%
ROIC Less NNEP Spread (ROIC-NNEP)	6.06%	-45.67%	6.79%	3.96%	-15.97%	-34.47%	3.98%	1.88%	0.43%	13.86%	-3.85%
Return on Net Nonoperating Assets (RNNOA)	2.87%	-21.63%	3.12%	1.76%	-7.29%	-17.09%	2.00%	0.91%	0.21%	6.95%	-2.00%
Return on Equity (ROE)	10.21%	-15.14%	12.39%	7.89%	-22.32%	-47.07%	6.41%	2.91%	0.82%	20.83%	-5.41%
Cash Return on Invested Capital (CROIC)	2.92%	7.91%	12.37%	14.10%	7.06%	6.01%	0.17%	-3.56%	-1.94%	-5.52%	-0.40%
Operating Return on Assets (OROA)	1.86%	1.97%	2.58%	1.75%	-4.26%	-7.90%	1.23%	0.57%	0.20%	2.04%	-0.97%
Return on Assets (ROA)	1.18%	-11.03%	1.20%	0.66%	-3.23%	-7.08%	0.74%	0.37%	0.08%	2.67%	-0.81%
Return on Common Equity (ROCE)	8.06%	-11.96%	9.87%	6.28%	-17.64%	-36.80%	5.04%	2.29%	0.65%	16.45%	-4.27%
Return on Equity Simple (ROE_SIMPLE)	11.16%	0.00%	-18.88%	-20.34%	-31.89%	0.00%	-17.95%	-18.23%	-9.81%	0.00%	5.58%
Net Operating Profit after Tax (NOPAT)	24	17	24	14	-36	-51	11	5.12	1.59	32	-7.44
NOPAT Margin	11.64%	8.37%	12.08%	7.96%	-19.63%	-41.81%	6.59%	3.03%	0.96%	19.85%	-5.11%
Net Nonoperating Expense Percent (NNEP)	1.28%	52.16%	2.48%	2.17%	0.95%	4.49%	0.43%	0.11%	0.18%	0.01%	0.45%
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%	0.00%
Operating Expenses to Revenue	84.92%	86.91%	83.07%	88.90%	128.05%	159.73%	90.40%	95.67%	98.41%	84.82%	107.29%
Earnings before Interest and Taxes (EBIT)	31	27	33	20	-52	-72	16	7.33	2.65	25	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	31	27	33	20	-52	-72	16	7.42	2.74	25	-11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.00	0.63	0.64	0.53	0.44	0.40	0.39	0.55	0.51	0.54	0.56
Price to Tangible Book Value (P/TBV)	1.62	1.05	1.06	0.88	0.74	0.75	0.70	0.97	0.88	0.90	0.95
Price to Revenue (P/Rev)	0.88	0.43	0.43	0.37	0.31	0.27	0.29	0.42	0.41	0.44	0.45
Price to Earnings (P/E)	10.77	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.38	13.76
Dividend Yield	1.34%	2.23%	2.19%	2.62%	3.22%	3.29%	2.88%	1.37%	0.72%	0.63%	0.63%
Earnings Yield	9.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.55%	7.27%
Enterprise Value to Invested Capital (EV/IC)	0.67	0.46	0.43	0.04	0.30	0.26	0.36	0.51	0.46	0.48	0.53
Enterprise Value to Revenue (EV/Rev)	1.08	0.59	0.55	0.05	0.39	0.34	0.53	0.75	0.72	0.73	0.80
Enterprise Value to EBITDA (EV/EBITDA)	8.17	2.53	3.99	0.34	10.30	0.00	0.00	0.00	0.00	4.21	21.28
Enterprise Value to EBIT (EV/EBIT)	8.20	5.31	4.01	0.34	10.43	0.00	0.00	0.00	0.00	9.60	21.61
Enterprise Value to NOPAT (EV/NOPAT)	10.63	7.55	5.68	0.48	17.10	0.00	0.00	0.00	0.00	9.74	17.18
Enterprise Value to Operating Cash Flow (EV/OCF)	4.56	5.25	4.71	0.62	0.00	0.00	0.00	0.00	29.04	0.00	16.14
Enterprise Value to Free Cash Flow (EV/FCFF)	23.45	5.75	3.40	0.26	4.18	4.04	204.09	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.48	0.48	0.44	0.45	0.51	0.53	0.53	0.52	0.49	0.51
Long-Term Debt to Equity	0.15	0.15	0.15	0.15	0.15	0.18	0.17	0.17	0.16	0.16	0.16
Financial Leverage	0.47	0.47	0.46	0.45	0.46	0.50	0.50	0.48	0.48	0.50	0.52
Leverage Ratio	7.54	7.59	7.36	7.08	7.34	8.11	7.83	7.43	7.55	7.80	7.65
Compound Leverage Factor	7.54	7.59	7.36	7.08	7.34	8.11	7.83	7.43	7.55	7.80	7.65
Debt to Total Capital	31.57%	32.44%	32.29%	30.75%	31.10%	33.91%	34.82%	34.52%	34.13%	32.95%	33.61%
Short-Term Debt to Total Capital	21.50%	22.10%	21.99%	20.25%	20.49%	22.34%	23.83%	23.63%	23.36%	22.55%	23.01%
Long-Term Debt to Total Capital	10.07%	10.34%	10.29%	10.49%	10.62%	11.58%	10.98%	10.89%	10.77%	10.39%	10.60%
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%	0.00%
Noncontrolling Interests to Total Capital	14.02%	14.41%	14.34%	14.61%	14.78%	14.81%	14.05%	13.93%	13.77%	13.30%	13.56%
Common Equity to Total Capital	54.41%	53.15%	53.38%	54.64%	54.11%	51.28%	51.14%	51.55%	52.10%	53.75%	52.82%
Debt to EBITDA	3.84	1.78	2.99	2.73	10.58	-118.71	-3.76	-3.28	-7.18	2.86	13.60
Net Debt to EBITDA	-0.16	-0.11	-0.48	-3.55	-2.89	33.57	-0.24	-0.80	-1.34	0.52	3.86
Long-Term Debt to EBITDA	1.22	0.57	0.95	0.93	3.61	-40.52	-1.19	-1.03	-2.27	0.90	4.29
Debt to NOPAT	4.99	5.33	4.25	3.85	17.56	-6.12	-5.35	-4.67	-10.18	6.62	10.97
Net Debt to NOPAT	-0.21	-0.33	-0.68	-5.00	-4.80	1.73	-0.35	-1.14	-1.90	1.21	3.12
Long-Term Debt to NOPAT	1.59	1.70	1.35	1.31	5.99	-2.09	-1.69	-1.47	-3.21	2.09	3.46
Noncontrolling Interest Sharing Ratio	21.01%	21.03%	20.41%	20.45%	20.96%	21.83%	21.35%	21.18%	21.19%	21.04%	20.98%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	37	75	80	17	56	74	41	15	-70	-41
Operating Cash Flow to CapEx	4,861.55%	-313.34%	3,232.08%	-1,491.75%	-32,523.73%	273.14%	-4,225.53%	5,480.83%	5,176.47%	-1,088.83%	-834.15%
Free Cash Flow to Firm to Interest Expense	-1.85	5.58	11.55	12.57	2.82	9.88	13.41	7.09	2.42	-11.75	-7.40
Operating Cash Flow to Interest Expense	8.50	-1.49	3.71	-1.37	-44.05	1.31	-9.29	4.33	5.51	-4.49	-0.12
Operating Cash Flow Less CapEx to Interest Expense	8.33	-1.97	3.60	-1.46	-44.19	0.83	-9.51	4.25	5.41	-4.90	-0.14
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.15	0.15	0.16	0.15	0.13	0.13	0.13	0.13	0.13	0.13
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,034	1,006	1,011	992	980	899	947	956	967	1,001	981
Invested Capital Turnover	0.63	0.78	0.77	0.77	0.77	0.72	0.67	0.66	0.64	0.70	0.67
Increase / (Decrease) in Invested Capital	36	-19	-51	-65	-54	-107	-63	-36	-13	102	34
Enterprise Value (EV)	695	462	436	38	297	231	345	483	449	485	516
Market Capitalization	563	337	344	288	235	184	190	269	255	292	290
Book Value per Share	$14.95	$14.20	$14.33	$14.32	$14.02	$12.18	$10.61	$10.73	$10.97	$11.71	$11.28
Tangible Book Value per Share	$9.25	$8.50	$8.63	$8.65	$8.35	$6.52	$5.92	$6.07	$6.31	$7.05	$6.63
Total Capital	1,034	1,006	1,011	992	980	899	947	956	967	1,001	981
Total Debt	326	326	326	305	305	305	330	330	330	330	330
Total Long-Term Debt	104	104	104	104	104	104	104	104	104	104	104
Net Debt	-13	-20	-53	-396	-83	-86	21	80	61	60	94
Capital Expenditures (CapEx)	1.13	3.13	0.75	0.58	0.83	2.73	1.22	0.46	0.66	2.46	0.08
Net Nonoperating Expense (NNE)	4.17	170	8.11	6.85	2.99	14	1.41	0.36	0.57	0.05	1.48
Net Nonoperating Obligations (NNO)	326	326	326	305	305	305	330	330	330	330	330
Total Depreciation and Amortization (D&A)	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.45	($4.13)	$0.34	$0.13	($1.10)	($2.43)	$0.17	$0.06	($0.02)	$0.65	($0.23)
Adjusted Weighted Average Basic Shares Outstanding	37.64M	37.62M	37.73M	37.87M	37.88M	38.69M	45.80M	46.03M	46.03M	45.97M	46.10M
Adjusted Diluted Earnings per Share	$0.45	($4.11)	$0.35	$0.13	($1.10)	($2.44)	$0.16	$0.06	($0.02)	$0.59	($0.23)
Adjusted Weighted Average Diluted Shares Outstanding	37.82M	37.81M	44.64M	38.04M	37.88M	38.69M	59.66M	46.73M	46.03M	60.01M	46.10M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.64M	37.66M	37.83M	37.83M	37.83M	45.64M	45.89M	45.92M	45.97M	45.97M	46.24M
Normalized Net Operating Profit after Tax (NOPAT)	26	17	24	14	-36	-51	11	5.12	1.59	17	-7.44
Normalized NOPAT Margin	12.58%	8.37%	12.08%	7.96%	-19.63%	-41.81%	6.59%	3.03%	0.96%	10.62%	-5.11%
Pre Tax Income Margin	15.08%	13.09%	16.93%	11.10%	-28.05%	-59.73%	9.60%	4.33%	1.59%	15.18%	-7.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.74	4.16	5.08	3.18	-8.48	-12.66	2.89	1.26	0.43	4.11	-1.90
NOPAT to Interest Expense	3.66	2.66	3.63	2.28	-5.94	-8.86	1.98	0.88	0.26	5.38	-1.33
EBIT Less CapEx to Interest Expense	4.56	3.68	4.97	3.09	-8.62	-13.14	2.67	1.18	0.32	3.70	-1.92
NOPAT Less CapEx to Interest Expense	3.48	2.18	3.51	2.19	-6.07	-9.34	1.76	0.80	0.15	4.97	-1.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-16.94%	-15.29%	-14.15%	-12.33%	-23.42%	-19.48%	-16.53%	-20.52%	20.82%	33.86%
Augmented Payout Ratio	0.00%	-16.94%	-15.29%	-14.15%	-12.33%	-23.42%	-19.48%	-16.53%	-20.52%	20.82%	33.86%

Financials Breakdown Chart

Key Financial Trends

James River Group (NASDAQ: JRVR) showed a sharp rebound in Q1 2026 versus the prior year, but the underlying trends are still mixed. The company posted a quarterly loss, operating cash flow stayed negative, and balance-sheet leverage remains meaningful. At the same time, premiums earned and investment gains continue to support revenue, and the latest quarter looked much better than the weak comparison periods in 2024.

Revenue rebounded year over year in Q1 2026. Total revenue rose to $145.8 million from $166.7 million in Q1 2025, but the composition improved versus the prior-year quarter because the loss profile was much better than earlier in 2024.
Premiums earned remain a major source of income. Q1 2026 premiums earned were $135.7 million, showing the core insurance franchise is still generating substantial top-line business.
Profitability improved dramatically from the weak 2024 period. JRVR posted a $10.9 million loss attributable to common shareholders in Q1 2026, which is far better than the much larger losses seen in late 2024.
Cash and investments remain sizable. As of March 31, 2026, the company held $227.6 million of cash and $1.51 billion of trading account securities, giving it substantial liquidity and investment resources.
Equity remains positive. Total common equity was $518.4 million in Q1 2026, which helps provide a buffer despite the company’s loss history.
Investment income and capital gains still play a big role. Net realized and unrealized capital gains were $14.7 million in Q1 2026, helping offset underwriting pressure, but this type of income can be volatile quarter to quarter.
Debt levels were stable in the quarter. JRVR reported $225.8 million of short-term debt and $104.1 million of long-term debt in Q1 2026, similar to recent quarters.
The company continued paying a modest dividend. Cash dividends to common were $0.01 per share in Q1 2026, and dividend payments totaled $2.5 million during the quarter.
Operating cash flow was negative. JRVR used $0.7 million of cash from operations in Q1 2026, which is a weak sign for a capital-intensive insurer.
Claims expense remained high. Property and liability insurance claims were $108.2 million in Q1 2026, a large cost item that continues to pressure margins.
Pre-tax results were still negative. JRVR reported a $10.6 million pre-tax loss in Q1 2026, showing underwriting and investment income were not enough to fully cover expenses.
Cash declined sharply in the quarter. Net cash and equivalents fell by $33.3 million in Q1 2026, mainly due to investing activity and negative operating cash flow.
Interest expense remains a burden. JRVR recorded $5.6 million of interest expense in Q1 2026 and paid $6.1 million of cash interest, which continues to weigh on earnings.

Bottom line: JRVR has clearly improved from the roughest parts of 2024, but investors should still view the turnaround as incomplete. The company has liquidity, a meaningful equity base, and substantial investment assets, yet it is still struggling to produce consistent operating cash flow and sustained profitability.

For retail investors, the key question is whether better underwriting and expense control can offset claims volatility and financing costs. If those trends continue improving, the stock could have room to recover. If not, earnings quality may remain uneven.

07/04/26 03:47 AM ETAI Generated. May Contain Errors.

James River Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, James River Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

James River Group's net income appears to be on an upward trend, with a most recent value of $47.43 million in 2025, falling from $53.50 million in 2015. The previous period was -$81.12 million in 2024. View James River Group's forecast to see where analysts expect James River Group to go next.

Over the last 10 years, James River Group's total revenue changed from $504.92 million in 2015 to $664.08 million in 2025, a change of 31.5%.

James River Group's total liabilities were at $4.19 billion at the end of 2025, a 5.1% decrease from 2024, and a 433.4% increase since 2015.

In the past 10 years, James River Group's cash and equivalents has ranged from $0.00 in 2017 to $362.35 million in 2024, and is currently $260.94 million as of their latest financial filing in 2025.

Over the last 10 years, James River Group's book value per share changed from 0.00 in 2015 to 11.71 in 2025, a change of 1,170.8%.

Related Companies

Financial statements for NASDAQ:JRVR last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

James River Group (JRVR) Financials

Financials Breakdown Chart

Key Financial Trends

James River Group Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

James River Group (JRVR) Financials

Annual Income Statements for James River Group

Quarterly Income Statements for James River Group

Annual Cash Flow Statements for James River Group

Quarterly Cash Flow Statements for James River Group

Annual Balance Sheets for James River Group

Quarterly Balance Sheets for James River Group

Annual Metrics And Ratios for James River Group

Quarterly Metrics And Ratios for James River Group

Financials Breakdown Chart

Key Financial Trends

James River Group Financials - Frequently Asked Questions

When does James River Group's fiscal year end?

How has James River Group's net income changed over the last 10 years?

How has James River Group's revenue changed over the last 10 years?

How much debt does James River Group have?

How much cash does James River Group have?

How has James River Group's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools