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Palomar (PLMR) Financials

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$108.27 +1.23 (+1.15%)
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Annual Income Statements for Palomar

Annual Income Statements for Palomar

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

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 18 11 6.26 46 52 79 118 197
Consolidated Net Income / (Loss)		 18 11 6.26 46 52 79 118 197
Net Income / (Loss) Continuing Operations		 18 11 6.26 46 52 79 118 197
Total Pre-Tax Income 		18 18 6.22 57 68 104 151 253
Total Revenue		 68 112 168 248 326 372 553 876
Net Interest Income / (Expense)		 -2.30 -1.07 0.00 -0.04 -0.87 -3.78 -1.14 -0.39
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 2.30 1.07 0.00 0.04 0.87 3.78 1.14 0.39
Long-Term Debt Interest Expense		 2.30 1.07 0.00 0.04 0.87 3.78 1.14 0.39
Total Non-Interest Income		 71 113 168 248 327 376 554 876
Other Service Charges		 - 2.67 3.30 3.61 4.27 3.37 2.78 5.50
Net Realized & Unrealized Capital Gains on Investments		 0.67 10 10 10 6.35 27 40 68
Premiums Earned		 70 100 155 234 316 346 511 803
Total Non-Interest Expense		 50 94 162 191 259 269 402 622
Property & Liability Insurance Claims		 6.27 5.59 64 41 79 73 135 229
Insurance Policy Acquisition Costs		 18 51 34 54 69 88 117 176
Amortization Expense		 28 37 64 95 111 108 150 217
Income Tax Expense		 -0.01 7.46 -0.03 11 15 24 34 56
Basic Earnings per Share		 $1.07 $0.49 $0.25 $1.80 $2.07 $3.19 $4.61 $7.40
Weighted Average Basic Shares Outstanding		 17M 21.50M 24.87M 25.46M 25.24M 24.82M 25.52M 26.64M
Diluted Earnings per Share		 $1.07 $0.49 $0.24 $1.76 $2.02 $3.13 $4.48 $7.17
Weighted Average Diluted Shares Outstanding		 17M 21.83M 25.60M 26.11M 25.80M 25.33M 26.22M 27.49M
Weighted Average Basic & Diluted Shares Outstanding		 - - 25.57M 25.44M 24.98M 24.87M 26.68M 26.69M

Quarterly Income Statements for Palomar

This table shows Palomar'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		 18 26 26 26 30 35 43 47 51 56 43
Consolidated Net Income / (Loss)		 18 26 26 26 30 35 43 47 51 56 43
Net Income / (Loss) Continuing Operations		 18 26 26 26 30 35 43 47 51 56 43
Total Pre-Tax Income 		25 33 34 33 39 45 54 60 67 73 53
Total Revenue		 90 105 118 131 148 156 175 203 245 253 276
Net Interest Income / (Expense)		 -0.87 -0.82 -0.74 -0.23 -0.09 -0.09 -0.09 -0.09 -0.13 -0.09 -3.16
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.87 0.82 0.74 0.23 0.09 0.09 0.09 0.09 0.13 0.09 3.16
Long-Term Debt Interest Expense		 0.87 0.82 0.74 0.23 0.09 0.09 0.09 0.09 0.13 0.09 3.16
Total Non-Interest Income		 91 105 119 131 149 156 175 203 245 253 279
Other Service Charges		 0.47 1.59 0.53 0.79 0.72 0.75 0.83 1.68 1.45 1.54 1.41
Net Realized & Unrealized Capital Gains on Investments		 4.65 10 10 7.99 12 10 9.73 22 18 18 16
Premiums Earned		 86 94 108 122 136 145 164 180 225 233 261
Total Non-Interest Expense		 66 71 83 97 110 111 121 143 177 181 222
Property & Liability Insurance Claims		 16 18 27 30 40 37 39 46 73 71 87
Insurance Policy Acquisition Costs		 22 24 25 31 28 33 36 46 48 47 65
Amortization Expense		 27 29 32 36 41 41 46 52 56 63 70
Income Tax Expense		 6.10 7.56 7.97 7.65 8.01 10.00 11 13 16 16 11
Basic Earnings per Share		 $0.75 $1.04 $1.06 $1.03 $1.18 $1.34 $1.61 $1.74 $1.93 $2.12 $1.62
Weighted Average Basic Shares Outstanding		 24.74M 24.82M 24.86M 24.95M 25.77M 25.52M 26.66M 26.76M 26.64M 26.64M 26.57M
Diluted Earnings per Share		 $0.73 $1.03 $1.04 $1.00 $1.15 $1.29 $1.57 $1.68 $1.87 $2.05 $1.57
Weighted Average Diluted Shares Outstanding		 25.24M 25.33M 25.47M 25.62M 26.48M 26.22M 27.40M 27.63M 27.45M 27.49M 27.34M
Weighted Average Basic & Diluted Shares Outstanding		 24.73M 24.87M 24.92M 25.01M 26.47M 26.68M 26.74M 26.78M 26.50M 26.69M 26.50M

Annual Cash Flow Statements for Palomar

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

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 -1.01 23 0.44 17 18 -16 29 26
Net Cash From Operating Activities		 23 45 57 88 170 116 261 409
Net Cash From Continuing Operating Activities		 23 45 57 88 170 116 261 409
Net Income / (Loss) Continuing Operations		 18 11 6.26 46 52 79 118 197
Consolidated Net Income / (Loss)		 18 11 6.26 46 52 79 118 197
Depreciation Expense		 0.21 0.22 1.34 3.54 4.12 4.50 5.11 8.93
Amortization Expense		 0.92 1.35 1.21 2.32 1.61 -0.01 -0.95 -0.06
Non-Cash Adjustments to Reconcile Net Income		 2.57 20 1.77 4.95 16 9.15 14 1.15
Changes in Operating Assets and Liabilities, net		 0.88 12 47 31 96 23 125 202
Net Cash From Investing Activities		 -25 -83 -185 -58 -157 -128 -306 -354
Net Cash From Continuing Investing Activities		 -25 -83 -185 -58 -157 -128 -306 -354
Purchase of Property, Leasehold Improvements and Equipment		 -0.33 -2.93 -4.07 -4.85 -5.94 -6.76 -6.05 -6.23
Purchase of Investment Securities		 -136 -270 -349 -217 -393 -243 -610 -975
Sale of Property, Leasehold Improvements and Equipment		 - - - - - 0.00 0.00 0.35
Sale and/or Maturity of Investments		 111 190 168 163 242 122 309 627
Net Cash From Financing Activities		 1.55 62 128 -13 5.02 -3.94 74 -29
Net Cash From Continuing Financing Activities		 1.55 62 128 -13 5.02 -3.94 74 -29
Issuance of Debt		 19 - 0.00 0.00 36 16 0.00 15
Issuance of Common Equity		 0.00 87 126 0.72 0.76 0.80 117 1.02
Repayment of Debt		 -18 -20 - - - 0.00 -53 -15
Repurchase of Common Equity		 - 0.00 0.00 -16 -34 -22 0.00 -37
Other Financing Activities, Net		 0.00 0.00 2.04 2.09 2.27 1.33 9.75 7.47
Cash Interest Paid		 1.73 1.16 0.00 0.00 0.70 3.68 1.05 0.29
Cash Income Taxes Paid		 0.01 5.65 7.18 2.10 19 21 38 59

Quarterly Cash Flow Statements for Palomar

This table details how cash moves in and out of Palomar'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		 -5.32 -1.44 9.91 -14 39 -6.05 39 -38 30 -4.87 -50
Net Cash From Operating Activities		 71 22 33 55 100 73 87 121 84 117 47
Net Cash From Continuing Operating Activities		 - 116 0.00 - - 261 0.00 - - 409 0.00
Net Income / (Loss) Continuing Operations		 - 79 0.00 - - 118 0.00 - - 197 0.00
Net Cash From Investing Activities		 -51 -24 -16 -29 -180 -81 -52 -161 -18 -124 -373
Net Cash From Continuing Investing Activities		 -51 -24 -16 -26 -183 -81 -52 -154 -25 -124 -373
Purchase of Property, Leasehold Improvements and Equipment		 -1.51 -1.42 -1.31 -1.54 -1.46 -1.74 -1.42 -1.72 -1.56 -1.53 -1.99
Acquisitions		 - - - - - - -24 - - - -246
Purchase of Investment Securities		 -73 -43 -179 -57 -219 -155 -327 -357 -88 -179 -268
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - 0.00 - - 0.12 0.24
Sale and/or Maturity of Investments		 24 20 164 32 38 76 300 205 64 57 143
Net Cash From Financing Activities		 -25 0.62 -6.88 -40 118 2.68 3.55 1.86 -35 1.26 276
Net Cash From Continuing Financing Activities		 -25 0.62 -6.88 12 66 2.68 3.55 0.11 -34 1.26 276
Issuance of Debt		 - - - - - - 0.00 - 15 - 297
Issuance of Common Equity		 0.41 - 0.43 - 0.47 116 0.40 - 0.50 - 0.74
Repurchase of Common Equity		 -6.57 -0.13 - - - - 0.00 - - -0.01 -23
Other Financing Activities, Net		 0.27 0.75 2.28 2.80 118 -113 3.15 0.11 3.07 1.27 0.93
Cash Interest Paid		 0.39 1.25 0.71 0.19 0.06 0.08 0.06 0.06 0.11 0.06 0.22
Cash Income Taxes Paid		 5.44 0.03 6.56 17 5.57 9.16 0.01 25 14 21 0.18

Annual Balance Sheets for Palomar

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

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 231 395 729 926 1,306 1,708 2,262 3,051
Cash and Due from Banks		 9.53 33 34 50 68 52 80 107
Restricted Cash		 0.40 0.23 0.25 0.09 0.06 0.31 0.10 0.02
Trading Account Securities		 147 239 422 466 554 690 982 1,324
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		 0.73 1.39 2.55 2.73 3.78 5.28 8.44 12
Premises and Equipment, Net		 0.95 0.85 0.74 0.53 0.60 0.37 0.43 2.55
Unearned Premiums Asset		 37 62 84 146 367 528 582 809
Deferred Acquisition Cost		 14 25 35 56 57 61 95 128
Intangible Assets		 0.74 0.74 12 9.50 8.26 12 13 61
Other Assets		 20 32 139 194 248 360 501 609
Total Liabilities & Shareholders' Equity		 231 395 729 926 1,306 1,708 2,262 3,051
Total Liabilities		 135 177 365 532 922 1,237 1,533 2,108
Long-Term Debt		 19 - - 0.00 36 53 0.00 0.00
Claims and Claim Expense		 16 17 129 173 231 342 503 688
Unearned Premiums Liability		 90 142 206 322 617 779 932 1,260
Other Long-Term Liabilities		 9.97 18 31 36 36 63 98 161
Total Equity & Noncontrolling Interests		 96 219 364 394 385 471 729 943
Total Preferred & Common Equity		 96 219 364 394 385 471 729 943
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 96 219 364 394 385 471 729 943
Common Stock		 69 180 311 319 334 351 494 523
Retained Earnings		 28 34 40 70 88 145 262 422
Accumulated Other Comprehensive Income / (Loss)		 -0.56 4.69 13 5.31 -37 -24 -27 -2.51

Quarterly Balance Sheets for Palomar

This table presents Palomar'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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 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		 1,216 1,441 1,546 1,626 1,885 2,016 2,276 2,427 2,832 2,944 3,612
Cash and Due from Banks		 29 80 58 53 61 48 86 119 81 112 57
Restricted Cash		 0.07 0.07 0.29 0.26 0.38 0.18 0.11 0.02 0.02 0.02 0.02
Trading Account Securities		 512 594 602 635 703 727 926 1,038 1,163 1,194 1,522
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		 3.33 4.08 4.57 4.86 5.19 5.93 7.50 8.59 10 11 13
Premises and Equipment, Net		 0.66 0.54 0.50 0.43 0.31 0.25 0.41 2.39 2.93 2.70 2.30
Unearned Premiums Asset		 370 420 485 502 622 661 625 630 823 824 984
Deferred Acquisition Cost		 57 54 56 59 67 82 86 103 116 125 142
Intangible Assets		 8.58 7.95 13 13 12 12 11 25 63 63 246
Other Assets		 236 280 327 360 413 480 533 501 573 613 647
Total Liabilities & Shareholders' Equity		 1,216 1,441 1,546 1,626 1,885 2,016 2,276 2,427 2,832 2,944 3,612
Total Liabilities		 849 1,036 1,133 1,205 1,383 1,483 1,573 1,636 1,985 2,065 2,653
Long-Term Debt		 26 71 71 53 43 0.00 0.00 - 0.00 0.00 297
Claims and Claim Expense		 206 265 298 324 402 467 497 544 599 684 772
Unearned Premiums Liability		 589 669 728 781 878 952 975 993 1,195 1,233 1,413
Other Long-Term Liabilities		 27 31 35 47 60 65 100 100 192 148 171
Total Equity & Noncontrolling Interests		 368 405 414 421 502 533 703 790 847 878 959
Total Preferred & Common Equity		 368 405 414 421 502 533 703 790 847 878 959
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 368 405 414 421 502 533 703 790 847 878 959
Common Stock		 330 337 341 346 357 364 486 502 509 516 534
Retained Earnings		 80 98 107 119 171 197 227 305 352 366 442
Accumulated Other Comprehensive Income / (Loss)		 -43 -31 -35 -43 -27 -28 -10 -17 -14 -4.09 -16

Annual Metrics And Ratios for Palomar

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

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - -
Profitability Metrics		 - - - - - - - -
Valuation Ratios		 - - - - - - - -
Leverage & Solvency		 - - - - - - - -
Liquidity Ratios		 - - - - - - - -
Cash Flow Metrics		 - - - - - - - -
Efficiency Ratios		 - - - - - - - -
Capital & Investment Metrics		 - - - - - - - -
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.25 $1.80 $2.07 $3.19 $4.61 $7.40
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 24.87M 25.46M 25.24M 24.82M 25.52M 26.64M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.24 $1.76 $2.02 $3.13 $4.48 $7.17
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 25.60M 26.11M 25.80M 25.33M 26.22M 27.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 25.57M 25.44M 24.98M 24.87M 26.68M 26.69M
Debt Service Ratios		 - - - - - - - -
Payout Ratios		 - - - - - - - -

Quarterly Metrics And Ratios for Palomar

This table displays calculated financial ratios and metrics derived from Palomar'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		 - - - - - - - - - - 26,689,745.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 26,689,745.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 1.61
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 11.99% 18.53% 33.58% 46.47% 64.78% 48.87% 48.18% 55.32% 64.76% - 58.00%
EBITDA Growth		 59.03% 20.54% 36.94% 40.96% 55.17% 36.96% 51.27% 61.20% 54.32% - 23.69%
EBIT Growth		 372.01% 33.96% 51.82% 44.98% 56.93% 34.39% 56.34% 79.42% 74.37% - -0.47%
NOPAT Growth		 330.05% 38.04% 52.38% 46.50% 65.46% 35.03% 62.69% 80.84% 68.72% - 0.06%
Net Income Growth		 330.05% 38.04% 52.38% 46.50% 65.46% 35.03% 62.69% 80.84% 68.72% - 0.06%
EPS Growth		 329.41% 43.06% 52.94% 44.93% 57.53% 25.24% 50.96% 68.00% 62.61% - 0.00%
Operating Cash Flow Growth		 501.39% -70.32% 89.97% 856.07% 41.96% 226.17% 163.19% 119.27% -16.58% - -46.06%
Free Cash Flow Firm Growth		 -402.85% -833.56% 33.33% 67.26% -224.67% -121.62% -380.42% -1,131.40% 37.98% - -108.55%
Invested Capital Growth		 20.21% 24.38% 14.41% 9.79% 48.40% 39.17% 45.13% 59.07% 24.85% - 58.96%
Revenue Q/Q Growth		 0.82% 16.10% 12.65% 11.08% 13.43% 4.89% 12.13% 16.43% 20.32% - 8.89%
EBITDA Q/Q Growth		 5.02% 21.20% 5.91% 4.57% 15.60% 6.97% 16.98% 11.44% 10.66% - -8.67%
EBIT Q/Q Growth		 6.58% 36.37% 2.68% -2.86% 15.37% 16.78% 19.46% 11.48% 12.12% - -26.42%
NOPAT Q/Q Growth		 4.95% 40.48% 1.88% -2.48% 18.53% 14.65% 22.76% 8.40% 10.59% - -23.53%
Net Income Q/Q Growth		 4.95% 40.48% 1.88% -2.48% 18.53% 14.65% 22.76% 8.40% 10.59% - -23.53%
EPS Q/Q Growth		 5.80% 41.10% 0.97% -3.85% 15.00% 12.17% 21.71% 7.01% 11.31% - -23.41%
Operating Cash Flow Q/Q Growth		 1,124.99% -68.47% 48.74% 66.42% 81.89% -27.56% 20.03% 38.65% -30.80% - -59.95%
Free Cash Flow Firm Q/Q Growth		 7.86% -25.38% 45.02% 48.45% -813.60% 14.42% -19.19% -32.14% 53.99% - -168.67%
Invested Capital Q/Q Growth		 -2.30% 10.53% 3.97% -2.21% 32.05% 3.66% 8.42% 7.18% 3.65% - 33.29%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 57.22% 59.73% 56.16% 52.87% 53.88% 54.95% 57.33% 54.87% 50.47% - 44.88%
EBIT Margin		 27.24% 32.00% 29.17% 25.51% 25.94% 28.88% 30.77% 29.46% 27.46% - 19.39%
Profit (Net Income) Margin		 20.46% 24.76% 22.40% 19.66% 20.55% 22.46% 24.59% 22.89% 21.04% - 15.57%
Tax Burden Percent		 75.13% 77.39% 76.79% 77.09% 79.21% 77.76% 79.91% 77.70% 76.64% - 80.33%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 24.87% 22.61% 23.21% 22.91% 20.79% 22.24% 20.09% 22.30% 23.36% - 19.67%
Return on Invested Capital (ROIC)		 16.77% 19.50% 17.63% 17.13% 17.51% 19.82% 22.45% 22.63% 20.70% - 14.86%
ROIC Less NNEP Spread (ROIC-NNEP)		 16.77% 19.50% 17.63% 17.13% 17.51% 19.82% 22.45% 0.00% 0.00% - 14.86%
Return on Net Nonoperating Assets (RNNOA)		 1.68% 2.03% 2.23% 1.29% 0.82% 0.87% 0.75% 0.00% 0.00% - 2.53%
Return on Equity (ROE)		 18.45% 21.53% 19.86% 18.42% 18.33% 20.69% 23.20% 0.00% 0.00% - 17.39%
Cash Return on Invested Capital (CROIC)		 -1.76% -4.97% 3.85% 9.62% -20.54% -13.98% -16.73% -23.15% 0.14% - -26.28%
Operating Return on Assets (OROA)		 6.82% 7.90% 7.05% 6.35% 6.67% 8.04% 8.70% 8.29% 8.18% - 6.27%
Return on Assets (ROA)		 5.12% 6.11% 5.41% 4.89% 5.28% 6.25% 6.95% 6.44% 6.27% - 5.04%
Return on Common Equity (ROCE)		 18.45% 21.53% 19.86% 18.42% 18.33% 20.69% 23.20% 0.00% 0.00% - 17.39%
Return on Equity Simple (ROE_SIMPLE)		 17.10% 0.00% 17.60% 18.11% 15.43% 0.00% 16.97% 18.29% 20.03% - 20.55%
Net Operating Profit after Tax (NOPAT)		 18 26 26 26 30 35 43 47 51 - 43
NOPAT Margin		 20.46% 24.76% 22.40% 19.66% 20.55% 22.46% 24.59% 22.89% 21.04% - 15.57%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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		 72.76% 68.00% 70.83% 74.49% 74.06% 71.12% 69.23% 70.54% 72.54% - 80.61%
Earnings before Interest and Taxes (EBIT)		 25 33 34 33 39 45 54 60 67 - 53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 52 62 66 69 80 86 100 112 123 - 124
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.98 2.91 4.13 3.80 3.37 3.83 4.63 4.87 3.56 - 3.33
Price to Tangible Book Value (P/TBV)		 3.07 2.99 4.23 3.88 3.42 3.90 4.78 5.26 3.83 - 4.47
Price to Revenue (P/Rev)		 3.53 3.69 5.16 4.56 4.72 5.06 6.00 6.05 4.02 - 3.27
Price to Earnings (P/E)		 17.42 17.33 23.49 20.97 21.82 23.77 27.27 26.63 17.78 - 16.18
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 5.74% 5.77% 4.26% 4.77% 4.58% 4.21% 3.67% 3.76% 5.62% - 6.18%
Enterprise Value to Invested Capital (EV/IC)		 2.65 2.62 3.77 3.71 3.24 3.72 4.48 4.77 3.43 - 2.73
Enterprise Value to Revenue (EV/Rev)		 3.53 3.69 5.11 4.45 4.55 4.91 5.80 5.93 3.88 - 3.51
Enterprise Value to EBITDA (EV/EBITDA)		 6.25 12.70 8.96 7.92 8.21 17.47 10.57 10.72 7.17 - 6.94
Enterprise Value to EBIT (EV/EBIT)		 13.19 13.25 17.81 15.71 16.33 17.95 20.74 20.52 13.36 - 13.55
Enterprise Value to NOPAT (EV/NOPAT)		 17.41 17.34 23.27 20.47 21.02 23.08 26.38 26.10 17.14 - 17.40
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.43 11.83 15.59 10.90 10.82 10.39 11.22 10.61 8.28 - 9.30
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 104.49 40.35 0.00 0.00 0.00 0.00 2,810.07 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.12 0.11 0.09 0.00 0.00 0.00 0.00 0.00 0.00 - 0.31
Long-Term Debt to Equity		 0.12 0.11 0.09 0.00 0.00 0.00 0.00 0.00 0.00 - 0.31
Financial Leverage		 0.10 0.10 0.13 0.08 0.05 0.04 0.03 0.00 0.00 - 0.17
Leverage Ratio		 3.60 3.52 3.67 3.76 3.47 3.31 3.34 3.51 3.30 - 3.45
Compound Leverage Factor		 3.60 3.52 3.67 3.76 3.47 3.31 3.34 3.51 3.30 - 3.45
Debt to Total Capital		 11.10% 10.04% 7.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 23.67%
Short-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%
Long-Term Debt to Total Capital		 11.10% 10.04% 7.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 23.67%
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		 88.90% 89.96% 92.11% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 76.33%
Debt to EBITDA		 0.26 0.49 0.19 0.00 0.00 0.00 0.00 0.00 0.00 - 0.60
Net Debt to EBITDA		 0.00 0.01 -0.08 0.00 0.00 0.00 0.00 0.00 0.00 - 0.49
Long-Term Debt to EBITDA		 0.26 0.49 0.19 0.00 0.00 0.00 0.00 0.00 0.00 - 0.60
Debt to NOPAT		 0.73 0.66 0.49 0.00 0.00 0.00 0.00 0.00 0.00 - 1.51
Net Debt to NOPAT		 -0.01 0.01 -0.21 0.00 0.00 0.00 0.00 0.00 0.00 - 1.22
Long-Term Debt to NOPAT		 0.73 0.66 0.49 0.00 0.00 0.00 0.00 0.00 0.00 - 1.51
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)		 -61 -77 -42 -22 -199 -170 -203 -268 -123 - -423
Operating Cash Flow to CapEx		 4,674.59% 1,568.31% 2,538.31% 3,572.72% 6,862.97% 4,181.75% 6,131.01% 7,035.97% 5,368.68% - 2,681.01%
Free Cash Flow to Firm to Interest Expense		 -70.65 -93.21 -57.06 -96.75 -2,286.00 -1,979.22 -2,386.69 -3,117.01 -927.38 - -133.97
Operating Cash Flow to Interest Expense		 81.47 27.03 44.76 245.01 1,152.51 844.62 1,025.68 1,405.56 628.90 - 14.89
Operating Cash Flow Less CapEx to Interest Expense		 79.73 25.30 43.00 238.15 1,135.71 824.42 1,008.95 1,385.58 617.19 - 14.34
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.25 0.25 0.24 0.25 0.26 0.28 0.28 0.28 0.30 - 0.32
Fixed Asset Turnover		 649.28 762.60 943.11 1,180.50 1,191.51 1,378.37 450.63 428.57 501.27 - 416.55
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 474 524 545 533 703 729 790 847 878 - 1,256
Invested Capital Turnover		 0.82 0.79 0.79 0.87 0.85 0.88 0.91 0.99 0.98 - 0.95
Increase / (Decrease) in Invested Capital		 80 103 69 47 229 205 246 315 175 - 466
Enterprise Value (EV)		 1,255 1,373 2,054 1,975 2,281 2,714 3,538 4,044 3,015 - 3,430
Market Capitalization		 1,256 1,373 2,073 2,023 2,368 2,795 3,657 4,125 3,127 - 3,189
Book Value per Share		 $17.03 $19.05 $20.18 $21.37 $28.12 $27.55 $29.63 $31.68 $32.79 - $35.93
Tangible Book Value per Share		 $16.52 $18.56 $19.70 $20.91 $27.67 $27.05 $28.70 $29.33 $30.45 - $26.71
Total Capital		 474 524 545 533 703 729 790 847 878 - 1,256
Total Debt		 53 53 43 0.00 0.00 0.00 0.00 0.00 0.00 - 297
Total Long-Term Debt		 53 53 43 0.00 0.00 0.00 0.00 0.00 0.00 - 297
Net Debt		 -0.69 0.75 -19 -48 -87 -81 -119 -81 -112 - 241
Capital Expenditures (CapEx)		 1.51 1.42 1.31 1.54 1.46 1.74 1.42 1.72 1.56 - 1.75
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 53 53 43 0.00 0.00 0.00 0.00 0.00 0.00 - 297
Total Depreciation and Amortization (D&A)		 27 29 32 36 41 41 46 52 56 - 70
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.75 $1.04 $1.06 $1.03 $1.18 $1.34 $1.61 $1.74 $1.93 $2.12 $1.62
Adjusted Weighted Average Basic Shares Outstanding		 24.74M 24.82M 24.86M 24.95M 25.77M 25.52M 26.66M 26.76M 26.64M 26.64M 26.57M
Adjusted Diluted Earnings per Share		 $0.73 $1.03 $1.04 $1.00 $1.15 $1.29 $1.57 $1.68 $1.87 $2.05 $1.57
Adjusted Weighted Average Diluted Shares Outstanding		 25.24M 25.33M 25.47M 25.62M 26.48M 26.22M 27.40M 27.63M 27.45M 27.49M 27.34M
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		 24.73M 24.87M 24.92M 25.01M 26.47M 26.68M 26.74M 26.78M 26.50M 26.69M 26.50M
Normalized Net Operating Profit after Tax (NOPAT)		 18 26 26 26 30 35 43 47 51 - 43
Normalized NOPAT Margin		 20.46% 24.76% 22.40% 19.66% 20.55% 22.46% 24.59% 22.89% 21.04% - 15.57%
Pre Tax Income Margin		 27.24% 32.00% 29.17% 25.51% 25.94% 28.88% 30.77% 29.46% 27.46% - 19.39%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 28.30 40.60 46.43 148.33 442.56 522.83 631.92 696.28 504.80 - 16.93
NOPAT to Interest Expense		 21.26 31.42 35.65 114.35 350.54 406.57 504.96 541.02 386.88 - 13.60
EBIT Less CapEx to Interest Expense		 26.56 38.88 44.66 141.47 425.77 502.63 615.19 676.30 493.09 - 16.37
NOPAT Less CapEx to Interest Expense		 19.52 29.70 33.89 107.49 333.75 386.37 488.24 521.05 375.17 - 13.04
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 46.18% 28.11% 17.49% 6.95% 0.12% 0.00% 0.00% 0.00% 21.20% - 30.63%

Financials Breakdown Chart

Key Financial Trends

Palomar Holdings (NASDAQ: PLMR) continues to show strong top-line growth and solid profitability, but the latest quarter also shows a few balance sheet and cash flow items investors should watch closely.

In Q1 2026, Palomar posted $275.8 million in revenue and $42.9 million in net income, which is a healthy profit margin for an insurance carrier. Revenue and premiums earned remain well above the levels seen a year ago, and the company continues to generate positive operating cash flow. However, quarterly cash flow turned negative due to heavy investing activity and a large acquisition-related cash outflow, while cash on hand declined meaningfully from the prior quarter.

  • Revenue growth remains strong. Q1 2026 total revenue rose to $275.8 million, up from $253.3 million in Q4 2025 and $174.5 million in Q1 2025.
  • Premiums earned are still expanding. Premiums earned reached $261.4 million in Q1 2026, versus $233.5 million in Q4 2025 and $164.1 million in Q1 2025.
  • Profitability remains solid. Net income attributable to common shareholders was $42.9 million in Q1 2026, with diluted EPS of $1.57.
  • Book equity has grown sharply over the last year. Total common equity increased to $959.0 million in Q1 2026 from $790.4 million in Q1 2025.
  • Operating cash flow stayed positive. Palomar generated $47.0 million of operating cash flow in Q1 2026, showing the core business still produces cash.
  • The investment portfolio remains large and central to earnings. Trading account securities were $1.52 billion at the end of Q1 2026, a major driver of both assets and investment income.
  • Claims and underwriting costs are still substantial. Q1 2026 claims expense was $87.1 million and policy acquisition costs were $64.9 million, indicating underwriting discipline remains important.
  • Cash declined noticeably quarter over quarter. Cash and equivalents fell to $56.5 million from $111.7 million in Q3 2025.
  • Investing and acquisition activity consumed cash. Q1 2026 investing cash flow was negative $373.4 million, including $246.3 million in acquisitions and $267.9 million of investment purchases.
  • Leverage increased again. Long-term debt rose to $297.4 million in Q1 2026 from zero in Q3 2025, adding another financial obligation.

Looking at the broader trend, Palomar has delivered consistent premium growth, rising earnings, and expanding equity over the past several years. Revenue in quarterly periods has climbed from roughly $117.8 million in Q1 2024 to $275.8 million in Q1 2026, while net income has generally moved higher as well.

The main caution is that the company has also become more reliant on its investment portfolio and has used balance sheet capacity for acquisitions and securities purchases. That is not necessarily a bad sign, but it does mean investors should pay close attention to liquidity, debt levels, and whether operating cash flow keeps pace with expansion.

Bottom line: PLMR looks fundamentally strong from a growth and profitability standpoint, but the latest quarter shows more balance sheet strain and cash usage than the income statement alone suggests.

06/01/26 09:49 AM ETAI Generated. May Contain Errors.

Palomar Financials - Frequently Asked Questions

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

Palomar's net income appears to be on an upward trend, with a most recent value of $197.07 million in 2025, rising from $18.22 million in 2018. The previous period was $117.57 million in 2024. Find out what analysts predict for Palomar in the coming months.

Over the last 7 years, Palomar's total revenue changed from $68.26 million in 2018 to $875.58 million in 2025, a change of 1,182.6%.

Palomar's total liabilities were at $2.11 billion at the end of 2025, a 37.5% increase from 2024, and a 1,463.5% increase since 2018.

In the past 7 years, Palomar's cash and equivalents has ranged from $9.53 million in 2018 to $106.88 million in 2025, and is currently $106.88 million as of their latest financial filing in 2025.


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Financial statements for NASDAQ:PLMR last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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