Tiptree Financial (TIPT) Financials

$22.83 -1.37 (-5.66%)

Closing price 04:00 PM Eastern

Extended Trading

$22.84 +0.02 (+0.07%)

As of 05:48 PM Eastern

Annual Income Statements for Tiptree Financial

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Net Income / (Loss) Attributable to Common Shareholders	-1.71	5.78	25	7.21	24	18	-29	38	-8.27	14	53
Consolidated Net Income / (Loss)	4.58	8.80	90	26	30	20	-25	44	3.56	40	88
Net Income / (Loss) Continuing Operations	-3.35	-2.15	37	9.23	-14	20	-25	44	3.56	40	88
Total Pre-Tax Income	0.79	-2.90	49	-3.33	-20	29	-39	65	54	83	149
Total Revenue	80	385	506	567	599	746	778	1,163	1,368	1,621	2,011
Net Interest Income / (Expense)	0.00	0.00	-21	-26	-7.83	-13	-23	-20	-18	-1.02	0.73
Total Interest Income	0.00	0.00	0.00	0.00	19	14	9.92	18	12	27	33
Investment Securities Interest Income	-	-	-	-	19	14	9.92	18	12	27	33
Total Interest Expense	0.00	0.00	21	26	27	27	33	38	30	28	32
Long-Term Debt Interest Expense	-	-	21	26	27	27	33	38	30	28	32
Total Non-Interest Income	80	385	527	592	607	759	800	1,183	1,386	1,622	2,010
Trust Fees by Commissions	-	-	25	8.77	9.65	9.61	21	12	14	15	15
Service Charges on Deposit Accounts	-	-	109	95	102	106	187	261	321	396	405
Other Service Charges	32	182	63	53	38	60	52	73	76	59	67
Net Realized & Unrealized Capital Gains on Investments	15	37	100	64	29	84	62	151	70	25	51
Premiums Earned	13	166	229	372	428	499	478	686	905	1,128	1,472
Total Non-Interest Expense	99	395	436	570	619	717	817	1,097	1,314	1,538	1,861
Salaries and Employee Benefits	37	195	263	358	376	433	453	604	705	782	853
Other Operating Expenses	50	156	93	74	230	270	346	469	585	733	986
Depreciation Expense	12	31	14	14	13	14	18	24	23	23	22
Income Tax Expense	4.14	-0.75	13	-13	-5.91	9.02	-14	21	50	43	62
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	14	3.26	5.95	1.76	3.93	5.92	12	26	34
Basic Earnings per Share	-	-	$0.79	$0.12	$0.69	$0.52	($0.86)	$1.13	($0.23)	$0.38	$1.44
Weighted Average Basic Shares Outstanding	17.10M	33.20M	31.72M	29.13M	34.72M	34.58M	33.86M	33.22M	35.53M	36.69M	36.87M
Diluted Earnings per Share	-	-	$0.78	$0.11	$0.69	$0.50	($0.86)	$1.09	($0.23)	$0.33	$1.30
Weighted Average Diluted Shares Outstanding	17.10M	33.20M	31.77M	37.31M	34.72M	34.58M	33.86M	33.69M	35.53M	37.62M	37.93M
Weighted Average Basic & Diluted Shares Outstanding	17.10M	33.20M	31.72M	29.13M	34.51M	34.43M	32.54M	34.39M	36.73M	36.76M	37.26M
Cash Dividends to Common per Share	-	-	$0.10	$0.12	$0.14	$0.16	$0.16	$0.16	$0.16	$0.20	$0.49

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	0.87	-1.06	5.99	2.15	6.87	9.05	13	12	20	5.64	19
Consolidated Net Income / (Loss)	6.12	3.15	12	8.87	16	16	22	20	29	13	31
Net Income / (Loss) Continuing Operations	6.12	3.15	12	8.87	16	16	22	20	29	13	31
Total Pre-Tax Income	25	8.17	24	21	30	30	41	37	42	25	53
Total Revenue	364	375	397	410	439	490	539	487	495	487	518
Net Interest Income / (Expense)	-3.35	-1.36	2.04	-1.30	-0.41	-1.53	-1.63	1.50	2.40	1.37	-0.36
Total Interest Income	2.06	5.11	9.09	5.42	7.06	6.76	6.38	9.11	11	12	11
Investment Securities Interest Income	2.06	5.11	9.09	5.42	7.06	6.76	6.38	9.11	11	12	11
Total Interest Expense	5.40	6.47	7.04	6.72	7.47	8.29	8.02	7.61	8.33	10	11
Long-Term Debt Interest Expense	5.40	6.47	7.04	6.72	7.47	8.29	8.02	7.61	8.33	10	11
Total Non-Interest Income	367	377	395	411	439	491	540	485	493	486	518
Trust Fees by Commissions	3.99	3.65	4.68	2.44	4.15	2.74	5.07	3.72	3.86	3.63	3.54
Service Charges on Deposit Accounts	88	92	98	100	106	110	106	95	93	97	97
Other Service Charges	13	13	14	16	16	15	18	18	15	14	15
Net Realized & Unrealized Capital Gains on Investments	20	2.18	8.83	1.46	12	16	13	8.32	14	6.83	21
Premiums Earned	243	265	270	291	301	347	398	359	367	363	382
Total Non-Interest Expense	339	367	374	389	409	460	498	450	453	462	465
Salaries and Employee Benefits	180	187	187	199	208	206	223	206	218	207	195
Other Operating Expenses	154	174	181	183	194	249	270	238	230	250	265
Depreciation Expense	5.26	5.25	5.88	6.35	5.99	5.57	5.29	5.40	5.40	4.88	4.92
Income Tax Expense	19	5.02	12	12	14	14	19	16	13	12	22
Net Income / (Loss) Attributable to Noncontrolling Interest	5.25	4.21	5.86	6.72	9.26	6.83	9.12	8.56	9.79	7.33	12
Basic Earnings per Share	$0.05	($0.03)	$0.16	$0.06	$0.19	$0.24	$0.35	$0.32	$0.53	$0.15	$0.50
Weighted Average Basic Shares Outstanding	35.53M	36.52M	36.74M	36.75M	36.69M	36.77M	36.79M	36.79M	36.87M	37.35M	37.50M
Diluted Earnings per Share	$0.06	($0.03)	$0.16	$0.04	$0.16	$0.22	$0.31	$0.29	$0.48	$0.13	$0.37
Weighted Average Diluted Shares Outstanding	35.53M	36.52M	37.59M	37.68M	37.62M	37.78M	37.75M	37.82M	37.93M	38.45M	38.62M
Weighted Average Basic & Diluted Shares Outstanding	36.73M	36.74M	36.75M	36.75M	36.76M	36.79M	36.79M	37.06M	37.26M	37.50M	37.50M
Cash Dividends to Common per Share	$0.04	$0.05	$0.05	$0.05	$0.05	$0.06	$0.06	$0.06	$0.31	$0.06	$0.06

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Net Change in Cash & Equivalents	-39	16	-0.70	65	-53	52	48	4.29	356	-58	-76
Net Cash From Operating Activities	24	-9.46	37	47	58	24	140	204	463	71	241
Net Cash From Continuing Operating Activities	7.60	-6.58	37	47	58	24	140	204	463	71	241
Net Income / (Loss) Continuing Operations	19	12	58	5.23	30	20	-25	44	3.56	40	88
Consolidated Net Income / (Loss)	11	12	58	5.23	30	20	-25	44	3.56	40	88
Depreciation Expense	12	47	29	30	13	14	18	24	23	23	22
Amortization Expense	0.70	4.04	3.42	4.09	1.96	1.88	3.24	4.55	2.32	-6.43	-4.79
Non-Cash Adjustments to Reconcile Net Income	8.69	-40	-51	12	-17	-74	56	-70	260	53	43
Changes in Operating Assets and Liabilities, net	-11	-30	-1.59	-5.88	30	63	89	201	174	-39	93
Net Cash From Investing Activities	-570	-218	-314	213	-109	-8.33	-123	-274	9.51	-245	-323
Net Cash From Continuing Investing Activities	-567	-218	-314	213	-109	-8.33	-123	-274	9.51	-245	-323
Purchase of Property, Leasehold Improvements and Equipment	-19	-23	-64	-39	-3.75	-8.52	-6.69	-2.76	-11	-14	-4.03
Purchase of Investment Securities	-1,185	-493	-453	-349	-359	-461	-1,562	-1,508	-1,327	-1,645	-1,063
Sale and/or Maturity of Investments	635	167	247	586	238	443	1,445	1,237	1,347	1,414	744
Net Cash From Financing Activities	507	244	277	-194	-2.00	37	32	74	-115	113	6.29
Net Cash From Continuing Financing Activities	514	244	277	-194	-2.00	37	32	74	-115	113	6.29
Issuance of Debt	828	1,443	2,085	1,858	1,632	2,237	3,380	4,084	2,365	1,432	1,236
Issuance of Common Equity	-	-	3.34	-	-	-	0.00	0.00	19	0.00	0.00
Repayment of Debt	-809	-1,193	-1,961	-1,826	-1,618	-2,182	-3,326	-3,993	-2,667	-1,290	-1,212
Repurchase of Common Equity	-0.04	-3.98	-44	-7.30	-14	-9.09	-14	-8.15	-1.73	0.00	0.00
Payment of Dividends	0.00	-3.31	-6.19	-3.50	-4.78	-5.50	-5.57	-5.41	-7.78	-14	-25
Other Financing Activities, Net	495	0.81	199	-215	2.91	-3.52	-2.13	-3.53	177	-15	7.64
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	0.00	-1.83	1.53	-0.36
Cash Interest Paid	65	55	27	34	26	26	30	37	29	27	29
Cash Income Taxes Paid	5.17	39	6.18	5.05	-5.09	3.30	1.07	2.08	2.26	-15	15

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	37	-125	-28	139	-45	110	2.42	-101	-88	12	47
Net Cash From Operating Activities	62	43	-6.68	57	-22	63	47	61	70	-33	21
Net Cash From Continuing Operating Activities	62	43	-6.68	57	-22	63	47	61	70	-33	21
Net Income / (Loss) Continuing Operations	6.12	3.15	12	8.87	16	16	22	20	29	13	31
Consolidated Net Income / (Loss)	6.12	3.15	12	8.87	16	16	22	20	29	13	31
Depreciation Expense	5.26	5.25	5.88	6.35	5.99	5.57	5.29	5.40	5.40	4.88	4.92
Amortization Expense	0.22	-0.19	-2.91	-1.35	-1.98	-1.44	-1.44	-0.63	-1.28	-0.85	-1.50
Non-Cash Adjustments to Reconcile Net Income	16	5.87	11	20	16	15	16	17	-5.31	13	22
Changes in Operating Assets and Liabilities, net	34	29	-33	23	-59	28	5.00	19	42	-63	-36
Net Cash From Investing Activities	-19	-248	-25	128	-100	40	-22	-165	-177	-18	28
Net Cash From Continuing Investing Activities	-19	-248	-25	128	-100	40	-22	-165	-177	-18	28
Purchase of Property, Leasehold Improvements and Equipment	-5.41	-4.95	-6.63	-0.92	-1.53	-0.79	-0.91	-0.54	-1.80	-1.12	-1.19
Purchase of Investment Securities	-356	-557	-269	-331	-488	-309	-158	-229	-366	-195	-202
Sale and/or Maturity of Investments	342	314	251	460	389	351	137	65	191	178	231
Net Cash From Financing Activities	-11	78	2.57	-41	74	7.98	-23	-3.06	24	61	-6.81
Net Cash From Continuing Financing Activities	-11	78	2.57	-41	74	7.98	-23	-3.06	24	61	-6.81
Issuance of Debt	251	370	368	346	348	254	253	267	462	331	346
Repayment of Debt	-258	-283	-354	-383	-270	-251	-272	-266	-424	-263	-349
Payment of Dividends	-3.07	-3.45	-3.41	-3.43	-3.45	-3.82	-3.93	-3.82	-13	-3.88	-3.84
Other Financing Activities, Net	-0.57	-6.08	-7.48	-	-1.22	8.75	-0.24	-0.13	-0.74	-2.55	-0.17
Effect of Exchange Rate Changes	5.01	1.26	1.24	-4.44	3.46	-0.75	0.34	5.60	-5.54	1.79	4.51

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Total Assets	8,205	2,495	2,890	1,990	1,865	2,198	2,996	3,599	4,040	5,139	5,695
Cash and Due from Banks	53	69	50	111	86	133	137	176	538	469	320
Restricted Cash	6.81	19	24	32	11	11	58	19	13	24	96
Trading Account Securities	171	197	195	208	407	491	501	990	836	1,052	1,351
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
Unearned Premiums Asset	-	-	-	-	-	-	-	-	725	901	1,046
Deferred Acquisition Cost	8.62	58	127	147	170	166	229	379	499	566	566
Goodwill	-	-	93	92	92	99	179	179	187	206	207
Intangible Assets	212	186	74	64	52	48	138	123	117	119	103
Other Assets	7,724	1,759	2,328	1,337	1,048	1,250	1,753	1,733	1,125	1,804	2,006
Total Liabilities & Shareholders' Equity	8,205	2,495	2,890	1,990	1,865	2,198	2,996	3,599	4,040	5,139	5,695
Total Liabilities	7,803	2,097	2,500	1,593	1,466	1,787	2,622	3,199	3,506	4,563	5,038
Long-Term Debt	363	667	555	346	354	374	366	393	259	402	427
Claims and Claim Expense	-	-	-	-	-	-	233	332	567	845	1,298
Unearned Premiums Liability	300	390	415	503	599	755	861	1,124	1,357	1,695	1,766
Other Long-Term Liabilities	7,077	960	1,427	631	381	513	1,162	1,350	1,322	1,620	1,547
Total Equity & Noncontrolling Interests	402	398	348	397	399	411	374	400	534	577	657
Total Preferred & Common Equity	284	313	293	300	387	398	356	383	397	417	458
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	284	313	336	300	387	398	356	383	397	417	458
Common Stock	271	297	297	296	332	326	315	317	383	382	390
Retained Earnings	13	16	38	38	57	70	35	68	54	61	96
Accumulated Other Comprehensive Income / (Loss)	-0.05	-0.11	0.05	0.97	-2.06	1.70	5.67	-2.69	-39	-26	-28
Noncontrolling Interest	117	85	97	97	12	13	17	17	136	160	199

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	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
Total Assets	3,733	3,994	4,308	4,634	4,827	5,190	5,305	5,506	5,819	6,148
Cash and Due from Banks	338	503	412	372	515	475	497	396	342	384
Restricted Cash	13	10	14	26	23	128	108	108	86	91
Trading Account Securities	876	817	1,078	1,091	934	1,000	1,028	1,246	1,434	1,441
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
Unearned Premiums Asset	-	-	-	-	894	908	962	978	969	1,044
Deferred Acquisition Cost	434	485	504	521	539	565	545	571	554	573
Goodwill	187	186	207	206	205	206	206	209	206	208
Intangible Assets	125	120	131	128	123	115	111	108	100	97
Other Assets	1,760	1,872	1,962	2,291	1,595	1,794	1,847	1,889	2,127	2,310
Total Liabilities & Shareholders' Equity	3,733	3,994	4,308	4,634	4,827	5,190	5,305	5,506	5,819	6,148
Total Liabilities	3,207	3,475	3,766	4,088	4,284	4,591	4,687	4,850	5,136	5,425
Long-Term Debt	262	266	347	361	324	406	387	389	495	493
Claims and Claim Expense	441	513	640	722	813	962	1,087	1,193	1,422	1,503
Unearned Premiums Liability	1,219	1,349	1,403	1,521	1,607	1,660	1,671	1,710	1,732	1,860
Other Long-Term Liabilities	1,285	1,346	1,376	1,483	1,540	1,563	1,541	1,558	1,487	1,568
Total Equity & Noncontrolling Interests	525	520	542	546	544	599	618	656	683	723
Total Preferred & Common Equity	390	387	401	402	396	425	436	462	474	500
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	390	387	401	402	396	425	436	462	474	500
Common Stock	379	380	383	380	381	385	388	389	394	396
Retained Earnings	42	55	51	55	56	67	78	88	99	116
Accumulated Other Comprehensive Income / (Loss)	-31	-48	-33	-33	-41	-28	-29	-15	-20	-12
Noncontrolling Interest	135	132	141	144	147	174	182	194	210	224

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	325.43%	379.92%	31.19%	12.07%	5.67%	24.52%	4.30%	49.52%	17.60%	18.56%	24.01%
EBITDA Growth	51.56%	772.71%	147.41%	-69.66%	-117.03%	951.31%	-140.44%	623.20%	-15.94%	26.21%	66.04%
EBIT Growth	-48.73%	47.73%	808.61%	-104.80%	-494.47%	247.20%	-233.33%	268.18%	-17.34%	53.77%	79.79%
NOPAT Growth	755.42%	-96.50%	671.80%	-110.83%	-494.47%	245.21%	-235.16%	261.97%	-91.92%	1,023.20%	119.18%
Net Income Growth	-88.75%	92.02%	922.45%	-70.95%	14.28%	-32.66%	-225.36%	274.63%	-91.92%	1,023.20%	119.18%
EPS Growth	0.00%	0.00%	0.00%	-85.90%	527.27%	-27.54%	-272.00%	226.74%	-121.10%	243.48%	293.94%
Operating Cash Flow Growth	879.47%	-139.98%	487.55%	28.04%	23.03%	-58.87%	490.38%	45.76%	126.65%	-84.57%	236.95%
Free Cash Flow Firm Growth	-124.50%	-1,496.74%	147.52%	41.56%	-112.18%	49.04%	252.27%	-151.33%	142.83%	-3,617.34%	88.21%
Invested Capital Growth	14.75%	39.20%	-11.24%	-21.39%	1.41%	4.32%	-5.86%	7.27%	-0.07%	23.46%	10.71%
Revenue Q/Q Growth	1,560.50%	8.30%	7.69%	4.12%	-1.26%	10.33%	7.34%	4.63%	4.94%	4.84%	2.88%
EBITDA Q/Q Growth	68.79%	56.91%	93.11%	-64.86%	-178.34%	108.57%	48.35%	-18.63%	36.44%	3.69%	7.95%
EBIT Q/Q Growth	5.06%	48.80%	354.09%	-106.33%	-85.88%	380.05%	27.44%	-25.75%	74.85%	6.45%	8.84%
NOPAT Q/Q Growth	412.25%	120.83%	-17.64%	-390.70%	-117.85%	196.13%	27.44%	-25.59%	331.08%	33.38%	17.74%
Net Income Q/Q Growth	-89.68%	2,795.39%	357.11%	-56.68%	-52.46%	25.11%	31.50%	-25.59%	331.08%	33.38%	17.74%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.12%	-28.29%	20.69%	43.48%	32.65%
Operating Cash Flow Q/Q Growth	157.98%	62.12%	181.75%	-48.91%	-12.53%	-29.23%	93.25%	-20.81%	10.48%	-54.13%	61.92%
Free Cash Flow Firm Q/Q Growth	88.23%	-462.13%	245.47%	298.78%	-104.98%	-139.85%	131.47%	-123.27%	139.98%	-184.13%	83.29%
Invested Capital Q/Q Growth	-22.96%	3.14%	-18.21%	-40.89%	-1.04%	6.64%	-2.59%	2.13%	0.90%	12.89%	3.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	-7.58%	10.63%	20.04%	5.43%	-0.87%	5.98%	-2.32%	8.11%	5.80%	6.17%	8.27%
EBIT Margin	-23.33%	-2.54%	13.72%	-0.59%	-3.31%	3.91%	-5.00%	5.62%	3.95%	5.12%	7.43%
Profit (Net Income) Margin	5.71%	2.28%	17.80%	4.61%	4.99%	2.70%	-3.24%	3.79%	0.26%	2.47%	4.36%
Tax Burden Percent	581.73%	-303.10%	183.14%	-785.23%	-150.95%	69.06%	64.93%	67.42%	6.59%	48.16%	58.71%
Interest Burden Percent	-4.21%	29.65%	70.81%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	525.51%	0.00%	25.47%	0.00%	0.00%	30.94%	0.00%	32.58%	93.41%	51.84%	41.29%
Return on Invested Capital (ROIC)	11.14%	0.31%	2.14%	-0.28%	-1.85%	2.61%	-3.57%	5.75%	0.45%	4.51%	8.50%
ROIC Less NNEP Spread (ROIC-NNEP)	-12.61%	1.47%	12.97%	5.76%	10.64%	2.61%	-3.03%	5.75%	0.45%	4.51%	8.50%
Return on Net Nonoperating Assets (RNNOA)	-9.99%	1.90%	22.01%	7.30%	9.36%	2.35%	-2.86%	5.64%	0.31%	2.69%	5.72%
Return on Equity (ROE)	1.15%	2.20%	24.15%	7.03%	7.51%	4.96%	-6.43%	11.39%	0.76%	7.21%	14.22%
Cash Return on Invested Capital (CROIC)	-2.60%	-32.47%	14.05%	23.68%	-3.25%	-1.61%	2.48%	-1.26%	0.52%	-16.48%	-1.67%
Operating Return on Assets (OROA)	-0.25%	-0.18%	2.58%	-0.14%	-1.03%	1.43%	-1.50%	1.98%	1.41%	1.81%	2.76%
Return on Assets (ROA)	0.06%	0.16%	3.34%	1.07%	1.55%	0.99%	-0.97%	1.34%	0.09%	0.87%	1.62%
Return on Common Equity (ROCE)	0.55%	1.65%	21.00%	6.00%	6.48%	4.81%	-6.18%	10.88%	0.64%	5.29%	10.08%
Return on Equity Simple (ROE_SIMPLE)	1.61%	2.81%	30.67%	8.71%	7.72%	5.06%	-7.08%	11.50%	0.90%	9.59%	19.15%
Net Operating Profit after Tax (NOPAT)	80	2.79	22	-2.33	-14	20	-27	44	3.56	40	88
NOPAT Margin	99.27%	0.72%	4.26%	-0.41%	-2.31%	2.70%	-3.50%	3.79%	0.26%	2.47%	4.36%
Net Nonoperating Expense Percent (NNEP)	23.75%	-1.17%	-10.83%	-6.04%	-12.49%	0.00%	-0.53%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	45.85%	50.61%	51.98%	63.14%	62.79%	58.01%	58.24%	51.94%	51.58%	48.24%	42.43%
Operating Expenses to Revenue	123.33%	102.54%	86.28%	100.59%	103.31%	96.09%	105.00%	94.38%	96.05%	94.88%	92.57%
Earnings before Interest and Taxes (EBIT)	-19	-9.79	69	-3.33	-20	29	-39	65	54	83	149
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.09	41	101	31	-5.24	45	-18	94	79	100	166
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.72	0.68	0.75	0.47	0.65	0.45	1.18	1.22	1.63	1.69
Price to Tangible Book Value (P/TBV)	0.00	1.77	1.35	1.56	0.74	1.03	4.15	5.58	5.15	7.39	5.22
Price to Revenue (P/Rev)	0.00	0.58	0.45	0.40	0.30	0.35	0.21	0.39	0.35	0.42	0.38
Price to Earnings (P/E)	0.00	38.89	9.04	31.36	7.57	14.14	0.00	11.86	0.00	48.73	14.48
Dividend Yield	0.00%	1.91%	1.88%	2.29%	2.68%	2.06%	3.36%	1.20%	1.20%	1.08%	2.35%
Earnings Yield	0.00%	2.57%	11.06%	3.19%	13.21%	7.07%	0.00%	8.43%	0.00%	2.05%	6.90%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.83	0.85	0.71	0.60	0.64	0.47	0.84	0.41	0.77	0.91
Enterprise Value to Revenue (EV/Rev)	0.00	2.30	1.59	0.93	0.75	0.67	0.45	0.57	0.24	0.46	0.49
Enterprise Value to EBITDA (EV/EBITDA)	0.00	21.68	7.96	17.13	0.00	11.28	0.00	7.08	4.14	7.49	5.91
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	11.62	0.00	0.00	17.26	0.00	10.22	6.07	9.02	6.58
Enterprise Value to NOPAT (EV/NOPAT)	0.00	318.47	37.45	0.00	0.00	24.99	0.00	15.15	92.08	18.74	11.21
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	22.01	11.22	7.81	21.18	2.49	3.27	0.71	10.49	4.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	5.71	2.64	0.00	0.00	18.46	0.00	78.98	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	1.68	1.60	0.87	0.89	0.91	0.98	0.98	0.49	0.70	0.65
Long-Term Debt to Equity	0.90	1.68	1.60	0.87	0.89	0.91	0.98	0.98	0.49	0.70	0.65
Financial Leverage	0.79	1.29	1.70	1.27	0.88	0.90	0.94	0.98	0.70	0.60	0.67
Leverage Ratio	18.88	13.39	7.22	6.56	4.84	5.01	6.62	8.52	8.18	8.27	8.78
Compound Leverage Factor	-0.79	3.97	5.12	6.56	4.84	5.01	6.62	8.52	8.18	8.27	8.78
Debt to Total Capital	47.49%	62.65%	61.48%	46.59%	47.00%	47.65%	49.51%	49.57%	32.71%	41.11%	39.40%
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%	0.00%
Long-Term Debt to Total Capital	47.49%	62.65%	61.48%	46.59%	47.00%	47.65%	49.51%	49.57%	32.71%	41.11%	39.40%
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	15.32%	7.97%	10.72%	13.02%	1.61%	1.70%	2.35%	2.17%	17.18%	16.31%	18.37%
Common Equity to Total Capital	37.19%	29.38%	37.17%	40.40%	51.38%	50.65%	48.14%	48.26%	50.11%	42.58%	42.23%
Debt to EBITDA	-59.64	16.28	5.47	11.26	-67.61	8.40	-20.31	4.17	3.27	4.02	2.57
Net Debt to EBITDA	-49.82	14.13	4.74	6.63	-49.18	5.16	-9.48	2.10	-3.68	-0.90	0.07
Long-Term Debt to EBITDA	-59.64	16.28	5.47	11.26	-67.61	8.40	-20.31	4.17	3.27	4.02	2.57
Debt to NOPAT	4.56	239.09	25.77	-148.47	-25.55	18.61	-13.47	8.93	72.84	10.06	4.87
Net Debt to NOPAT	3.81	207.48	22.32	-87.45	-18.59	11.42	-6.29	4.50	-81.85	-2.25	0.12
Long-Term Debt to NOPAT	4.56	239.09	25.77	-148.47	-25.55	18.61	-13.47	8.93	72.84	10.06	4.87
Noncontrolling Interest Sharing Ratio	51.99%	25.28%	13.02%	14.62%	13.67%	3.15%	3.92%	4.48%	16.43%	26.66%	29.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-19	-297	141	200	-24	-12	19	-9.70	4.15	-146	-17
Operating Cash Flow to CapEx	122.31%	-41.21%	57.70%	120.57%	1,539.72%	278.69%	2,093.95%	7,392.04%	4,316.89%	509.28%	5,972.61%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	6.72	7.82	-0.90	-0.46	0.58	-0.26	0.14	-5.27	-0.53
Operating Cash Flow to Interest Expense	0.00	0.00	1.74	1.84	2.14	0.88	4.30	5.42	15.31	2.58	7.47
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-1.28	0.31	2.00	0.56	4.10	5.35	14.96	2.07	7.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.07	0.19	0.23	0.31	0.37	0.30	0.35	0.36	0.35	0.37
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	765	1,065	945	743	753	786	740	794	793	979	1,084
Invested Capital Turnover	0.11	0.42	0.50	0.67	0.80	0.97	1.02	1.52	1.72	1.83	1.95
Increase / (Decrease) in Invested Capital	98	300	-120	-202	10	33	-46	54	-0.59	186	105
Enterprise Value (EV)	0.00	888	806	527	451	503	349	668	328	749	983
Market Capitalization	0.00	225	229	226	181	260	160	452	483	680	773
Book Value per Share	$16.63	$7.27	$7.80	$6.97	$10.77	$11.52	$10.59	$11.30	$10.96	$11.34	$12.35
Tangible Book Value per Share	$4.23	$2.94	$3.93	$3.36	$6.77	$7.26	$1.15	$2.39	$2.59	$2.50	$4.00
Total Capital	765	1,065	903	743	753	786	740	794	793	979	1,084
Total Debt	363	667	555	346	354	374	366	393	259	402	427
Total Long-Term Debt	363	667	555	346	354	374	366	393	259	402	427
Net Debt	303	579	481	204	258	230	171	198	-291	-90	11
Capital Expenditures (CapEx)	19	23	64	39	3.75	8.52	6.69	2.76	11	14	4.03
Net Nonoperating Expense (NNE)	75	-6.01	-68	-28	-44	0.00	-1.97	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	363	667	597	346	354	374	366	393	259	402	427
Total Depreciation and Amortization (D&A)	13	51	32	34	15	15	21	29	25	17	17
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.10)	$0.00	$0.00	$0.00	$0.69	$0.52	($0.86)	$1.13	($0.23)	$0.38	$1.44
Adjusted Weighted Average Basic Shares Outstanding	16.77M	33.20M	43.04M	43.05M	34.72M	34.58M	0.00	33.22M	35.53M	36.69M	36.87M
Adjusted Diluted Earnings per Share	($0.10)	$0.00	$0.00	$0.00	$0.69	$0.50	($0.86)	$1.09	($0.23)	$0.33	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	16.77M	33.20M	43.04M	43.05M	34.72M	34.58M	33.86M	33.69M	35.53M	37.62M	37.93M
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	41.76M	43.02M	43.04M	43.05M	34.51M	34.43M	32.54M	34.39M	36.73M	36.76M	37.26M
Normalized Net Operating Profit after Tax (NOPAT)	-13	2.79	22	-2.33	-14	20	-27	44	38	58	88
Normalized NOPAT Margin	-16.33%	0.72%	4.26%	-0.41%	-2.31%	2.70%	-3.50%	3.79%	2.76%	3.59%	4.36%
Pre Tax Income Margin	0.98%	-0.75%	9.72%	-0.59%	-3.31%	3.91%	-5.00%	5.62%	3.95%	5.12%	7.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	3.30	-0.13	-0.73	1.08	-1.19	1.73	1.79	3.00	4.63
NOPAT to Interest Expense	0.00	0.00	1.02	-0.09	-0.51	0.74	-0.83	1.17	0.12	1.44	2.72
EBIT Less CapEx to Interest Expense	0.00	0.00	0.28	-1.65	-0.87	0.76	-1.40	1.66	1.43	2.49	4.51
NOPAT Less CapEx to Interest Expense	0.00	0.00	-2.00	-1.61	-0.65	0.43	-1.04	1.10	-0.24	0.94	2.59
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	37.64%	6.88%	13.38%	16.00%	27.34%	-22.07%	12.28%	218.34%	34.33%	28.31%
Augmented Payout Ratio	0.85%	82.88%	55.49%	41.30%	63.22%	72.49%	-77.13%	30.77%	266.84%	34.33%	28.31%

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.47%	19.21%	20.19%	14.48%	20.54%	30.59%	35.52%	18.78%	12.84%	-0.58%	-3.86%
EBITDA Growth	227.00%	111.27%	129.02%	-15.38%	11.68%	155.60%	67.04%	58.91%	35.92%	-13.14%	26.15%
EBIT Growth	1,210.52%	958.51%	392.49%	-15.86%	20.11%	263.38%	71.69%	73.98%	40.34%	-14.64%	29.69%
NOPAT Growth	502.17%	572.84%	154.49%	-55.79%	163.62%	404.00%	85.43%	130.86%	81.92%	-18.34%	41.56%
Net Income Growth	502.17%	463.86%	154.49%	-55.79%	163.62%	404.00%	85.43%	130.86%	81.92%	-18.34%	41.56%
EPS Growth	0.00%	0.00%	125.00%	-89.47%	166.67%	833.33%	93.75%	625.00%	200.00%	-40.91%	19.35%
Operating Cash Flow Growth	240.41%	-71.12%	-104.93%	-50.84%	-135.54%	45.67%	801.98%	7.03%	416.35%	-153.14%	-54.66%
Free Cash Flow Firm Growth	112.72%	-787.05%	-393.45%	-746.79%	-2,632.55%	10.68%	29.69%	-116.55%	55.54%	-62.19%	-136.21%
Invested Capital Growth	-0.07%	14.79%	15.27%	10.36%	23.46%	12.98%	10.82%	20.47%	10.71%	17.36%	20.99%
Revenue Q/Q Growth	1.72%	3.03%	5.95%	3.10%	7.10%	11.63%	9.95%	-9.64%	1.75%	-1.66%	6.33%
EBITDA Q/Q Growth	-1.25%	-56.62%	101.25%	-1.85%	30.33%	-0.71%	31.52%	-6.63%	11.47%	-36.55%	91.03%
EBIT Q/Q Growth	-0.37%	-67.35%	189.66%	-10.70%	42.21%	-1.22%	36.86%	-9.51%	14.71%	-39.92%	107.94%
NOPAT Q/Q Growth	-69.50%	-48.50%	276.07%	-25.16%	81.87%	-1.53%	38.36%	-6.83%	43.31%	-55.80%	139.85%
Net Income Q/Q Growth	-69.50%	-48.50%	276.07%	-25.16%	81.87%	-1.53%	38.36%	-6.83%	43.31%	-55.80%	139.85%
EPS Q/Q Growth	-84.21%	-150.00%	633.33%	-75.00%	300.00%	37.50%	40.91%	-6.45%	65.52%	-72.92%	184.62%
Operating Cash Flow Q/Q Growth	-46.52%	-30.81%	-115.51%	956.51%	-138.66%	383.55%	-25.24%	30.59%	14.28%	-147.63%	163.78%
Free Cash Flow Firm Q/Q Growth	-40.16%	-1,760.28%	2.77%	33.04%	-134.30%	41.44%	23.46%	-106.20%	51.89%	-113.61%	-11.47%
Invested Capital Q/Q Growth	0.90%	12.12%	2.05%	-4.42%	12.89%	2.60%	0.10%	3.91%	3.75%	8.75%	3.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	8.38%	3.53%	6.70%	6.38%	7.76%	6.91%	8.26%	8.54%	9.35%	6.03%	10.84%
EBIT Margin	6.87%	2.18%	5.96%	5.16%	6.85%	6.06%	7.55%	7.56%	8.52%	5.20%	10.18%
Profit (Net Income) Margin	1.68%	0.84%	2.98%	2.16%	3.67%	3.24%	4.08%	4.21%	5.92%	2.66%	6.01%
Tax Burden Percent	24.44%	38.55%	50.05%	41.95%	53.64%	53.47%	54.06%	55.66%	69.54%	51.16%	59.01%
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	75.56%	61.45%	49.95%	58.05%	46.36%	46.53%	45.94%	44.34%	30.46%	48.84%	40.99%
Return on Invested Capital (ROIC)	2.90%	1.44%	5.26%	4.05%	6.72%	5.94%	8.01%	8.60%	11.55%	4.90%	10.74%
ROIC Less NNEP Spread (ROIC-NNEP)	2.90%	1.44%	5.26%	4.05%	6.72%	5.94%	8.01%	8.60%	11.55%	4.90%	10.74%
Return on Net Nonoperating Assets (RNNOA)	2.02%	1.15%	3.06%	2.25%	4.01%	3.93%	5.15%	5.10%	7.77%	3.44%	7.05%
Return on Equity (ROE)	4.92%	2.59%	8.32%	6.30%	10.73%	9.87%	13.16%	13.70%	19.32%	8.34%	17.79%
Cash Return on Invested Capital (CROIC)	0.52%	-12.86%	-9.32%	-6.22%	-16.48%	-6.62%	-3.69%	-10.78%	-1.67%	-8.21%	-10.54%
Operating Return on Assets (OROA)	2.46%	0.79%	2.13%	1.81%	2.42%	2.22%	2.85%	2.86%	3.16%	1.90%	3.53%
Return on Assets (ROA)	0.60%	0.30%	1.07%	0.76%	1.30%	1.19%	1.54%	1.59%	2.20%	0.97%	2.08%
Return on Common Equity (ROCE)	4.11%	2.15%	6.15%	4.64%	7.87%	7.15%	9.47%	9.80%	13.70%	5.84%	12.42%
Return on Equity Simple (ROE_SIMPLE)	0.00%	1.89%	10.25%	7.57%	0.00%	12.41%	14.40%	16.12%	0.00%	17.89%	18.78%
Net Operating Profit after Tax (NOPAT)	6.12	3.15	12	8.87	16	16	22	20	29	13	31
NOPAT Margin	1.68%	0.84%	2.98%	2.16%	3.67%	3.24%	4.08%	4.21%	5.92%	2.66%	6.01%
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%	0.00%
SG&A Expenses to Revenue	49.43%	49.91%	47.07%	48.66%	47.48%	42.07%	41.44%	42.39%	43.92%	42.43%	37.65%
Operating Expenses to Revenue	93.13%	97.82%	94.04%	94.84%	93.15%	93.94%	92.45%	92.44%	91.48%	94.80%	89.82%
Earnings before Interest and Taxes (EBIT)	25	8.17	24	21	30	30	41	37	42	25	53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	31	13	27	26	34	34	44	42	46	29	56
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.22	1.31	1.35	1.53	1.63	1.49	1.39	1.56	1.69	1.89	1.77
Price to Tangible Book Value (P/TBV)	5.15	8.27	7.97	8.88	7.39	6.05	5.05	4.97	5.22	5.38	4.53
Price to Revenue (P/Rev)	0.35	0.37	0.36	0.39	0.42	0.36	0.32	0.37	0.38	0.45	0.45
Price to Earnings (P/E)	0.00	0.00	27.10	76.45	48.73	26.22	19.55	17.70	14.48	17.97	15.77
Dividend Yield	1.20%	1.19%	1.22%	1.15%	1.08%	1.51%	1.34%	1.18%	2.35%	2.03%	2.08%
Earnings Yield	0.00%	0.00%	3.69%	1.31%	2.05%	3.81%	5.11%	5.65%	6.90%	5.57%	6.34%
Enterprise Value to Invested Capital (EV/IC)	0.41	0.66	0.72	0.62	0.77	0.61	0.57	0.76	0.91	1.00	0.93
Enterprise Value to Revenue (EV/Rev)	0.24	0.41	0.43	0.35	0.46	0.35	0.30	0.41	0.49	0.59	0.57
Enterprise Value to EBITDA (EV/EBITDA)	4.14	6.80	6.42	5.61	7.49	5.04	4.10	5.19	5.91	7.26	6.49
Enterprise Value to EBIT (EV/EBIT)	6.07	9.30	7.93	6.94	9.02	5.81	4.68	5.82	6.58	8.10	7.17
Enterprise Value to NOPAT (EV/NOPAT)	92.08	77.47	15.79	18.06	18.74	11.53	9.04	10.72	11.21	13.86	11.99
Enterprise Value to Operating Cash Flow (EV/OCF)	0.71	1.64	3.02	3.48	10.49	6.67	3.93	5.37	4.08	8.12	9.45
Enterprise Value to Free Cash Flow (EV/FCFF)	78.98	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.64	0.66	0.60	0.70	0.68	0.63	0.59	0.65	0.72	0.68
Long-Term Debt to Equity	0.49	0.64	0.66	0.60	0.70	0.68	0.63	0.59	0.65	0.72	0.68
Financial Leverage	0.70	0.80	0.58	0.55	0.60	0.66	0.64	0.59	0.67	0.70	0.66
Leverage Ratio	8.18	8.55	7.81	8.30	8.27	8.33	8.54	8.61	8.78	8.59	8.54
Compound Leverage Factor	8.18	8.55	7.81	8.30	8.27	8.33	8.54	8.61	8.78	8.59	8.54
Debt to Total Capital	32.71%	39.08%	39.81%	37.32%	41.11%	40.40%	38.53%	37.19%	39.40%	42.02%	40.53%
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%	0.00%
Long-Term Debt to Total Capital	32.71%	39.08%	39.81%	37.32%	41.11%	40.40%	38.53%	37.19%	39.40%	42.02%	40.53%
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	17.18%	15.85%	15.89%	17.01%	16.31%	17.31%	18.06%	18.59%	18.37%	17.79%	18.38%
Common Equity to Total Capital	50.11%	45.07%	44.30%	45.67%	42.58%	42.29%	43.41%	44.22%	42.23%	40.19%	41.09%
Debt to EBITDA	3.27	4.03	3.57	3.35	4.02	3.36	2.80	2.52	2.57	3.06	2.84
Net Debt to EBITDA	-3.68	-0.91	-0.36	-2.21	-0.90	-1.63	-1.57	-0.75	0.07	0.42	0.10
Long-Term Debt to EBITDA	3.27	4.03	3.57	3.35	4.02	3.36	2.80	2.52	2.57	3.06	2.84
Debt to NOPAT	72.84	45.85	8.77	10.79	10.06	7.70	6.16	5.22	4.87	5.84	5.25
Net Debt to NOPAT	-81.85	-10.35	-0.89	-7.13	-2.25	-3.74	-3.47	-1.56	0.12	0.79	0.19
Long-Term Debt to NOPAT	72.84	45.85	8.77	10.79	10.06	7.70	6.16	5.22	4.87	5.84	5.25
Noncontrolling Interest Sharing Ratio	16.43%	17.03%	26.05%	26.32%	26.66%	27.61%	27.99%	28.48%	29.09%	29.92%	30.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.71	-111	-108	-73	-170	-99	-76	-157	-76	-161	-180
Operating Cash Flow to CapEx	1,149.38%	870.14%	-100.66%	6,203.69%	-1,448.20%	7,967.47%	5,174.17%	11,421.08%	3,882.19%	-2,972.44%	1,793.50%
Free Cash Flow to Firm to Interest Expense	1.24	-17.23	-15.38	-10.80	-22.75	-12.00	-9.50	-20.62	-9.07	-15.58	-16.56
Operating Cash Flow to Interest Expense	11.52	6.66	-0.95	8.52	-2.96	7.56	5.85	8.04	8.40	-3.22	1.96
Operating Cash Flow Less CapEx to Interest Expense	10.51	5.89	-1.89	8.38	-3.17	7.47	5.74	7.97	8.18	-3.32	1.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.36	0.36	0.35	0.35	0.37	0.38	0.38	0.37	0.36	0.35
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	793	889	907	867	979	1,004	1,005	1,045	1,084	1,179	1,216
Invested Capital Turnover	1.72	1.72	1.76	1.87	1.83	1.83	1.96	2.04	1.95	1.84	1.79
Increase / (Decrease) in Invested Capital	-0.59	115	120	81	186	115	98	178	105	174	211
Enterprise Value (EV)	328	587	650	542	749	608	568	798	983	1,175	1,126
Market Capitalization	483	525	543	608	680	631	605	720	773	898	884
Book Value per Share	$10.96	$10.91	$10.94	$10.78	$11.34	$11.55	$11.86	$12.56	$12.35	$12.71	$13.33
Tangible Book Value per Share	$2.59	$1.73	$1.85	$1.86	$2.50	$2.84	$3.25	$3.94	$4.00	$4.48	$5.21
Total Capital	793	889	907	867	979	1,004	1,005	1,045	1,084	1,179	1,216
Total Debt	259	347	361	324	402	406	387	389	427	495	493
Total Long-Term Debt	259	347	361	324	402	406	387	389	427	495	493
Net Debt	-291	-78	-37	-214	-90	-197	-218	-116	11	67	18
Capital Expenditures (CapEx)	5.41	4.95	6.63	0.92	1.53	0.79	0.91	0.54	1.80	1.12	1.19
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	259	347	361	324	402	406	387	389	427	495	493
Total Depreciation and Amortization (D&A)	5.48	5.06	2.96	5.00	4.01	4.13	3.85	4.76	4.12	4.03	3.42
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	($0.03)	$0.16	$0.06	$0.19	$0.24	$0.35	$0.32	$0.53	$0.15	$0.50
Adjusted Weighted Average Basic Shares Outstanding	35.53M	36.52M	36.74M	36.75M	36.69M	36.77M	36.79M	36.79M	36.87M	37.35M	37.50M
Adjusted Diluted Earnings per Share	$0.06	($0.03)	$0.16	$0.04	$0.16	$0.22	$0.31	$0.29	$0.48	$0.13	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	35.53M	36.52M	37.59M	37.68M	37.62M	37.78M	37.75M	37.82M	37.93M	38.45M	38.62M
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	36.73M	36.74M	36.75M	36.75M	36.76M	36.79M	36.79M	37.06M	37.26M	37.50M	37.50M
Normalized Net Operating Profit after Tax (NOPAT)	18	5.72	12	15	16	16	22	20	29	13	31
Normalized NOPAT Margin	4.81%	1.53%	2.98%	3.61%	3.67%	3.24%	4.08%	4.21%	5.92%	2.66%	6.01%
Pre Tax Income Margin	6.87%	2.18%	5.96%	5.16%	6.85%	6.06%	7.55%	7.56%	8.52%	5.20%	10.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.63	1.26	3.36	3.15	4.03	3.58	5.07	4.83	5.07	2.45	4.85
NOPAT to Interest Expense	1.13	0.49	1.68	1.32	2.16	1.92	2.74	2.69	3.52	1.25	2.86
EBIT Less CapEx to Interest Expense	3.63	0.50	2.42	3.01	3.82	3.49	4.96	4.76	4.85	2.34	4.74
NOPAT Less CapEx to Interest Expense	0.13	-0.28	0.74	1.18	1.96	1.82	2.63	2.62	3.31	1.14	2.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	218.34%	129.63%	28.70%	44.53%	34.33%	26.75%	23.26%	20.16%	28.31%	29.35%	26.40%
Augmented Payout Ratio	266.84%	129.63%	28.70%	44.53%	34.33%	26.75%	23.26%	20.16%	28.31%	29.35%	26.40%

Financials Breakdown Chart

Key Financial Trends

Tiptree Financial (NASDAQ: TIPT) has shown notable financial trends over the last four years, with data through Q2 2025 highlighting key aspects of its performance and financial health.

Income and Profitability

Net income has increased significantly from a loss in mid-2022 to a positive consolidated net income of $31.1 million in Q2 2025, showing a clear turnaround and strengthening profitability.
Diluted earnings per share rose from a negative $0.64 in Q2 2022 to $0.37 in Q2 2025, reflecting improving profitability on a per-share basis.
Premiums earned increased steadily over the period, reaching $381.9 million in Q2 2025, supporting growth in core business revenue.
Net interest income was negative in Q2 2025 (-$357,000), indicating that interest expenses slightly exceeded interest income, which is a slight concern in net interest management.

Revenue and Expenses

Total non-interest income, including service charges and trust fees, has consistently grown, reaching $518.2 million in Q2 2025, driven largely by higher service charges on deposit accounts ($96.8 million in Q2 2025).
Total non-interest expenses remain high at $465.2 million in Q2 2025, reducing the pre-tax income margin, though this has been relatively stable as a percentage of revenue.

Cash Flow and Capital Management

Operating cash flow turned strongly positive in Q2 2025 with $21.3 million net cash from operating activities, recovering from negative cash flow in earlier periods, reflecting effective operational cash management.
Investing activities consistently show negative cash flow due to large purchases of investment securities (e.g., $202.2 million in Q2 2025), which while could be growth-oriented, represents significant capital outflows.
Financing activities in Q2 2025 resulted in a net cash outflow of $6.8 million, driven by near-equal debt issuance and repayment, and dividend payments, suggesting stable but limited external financing activity.
Cash and equivalents increased to $383.8 million in Q2 2025 from $337.9 million in Q2 2022, strengthening the liquidity position over time.

Balance Sheet and Financial Position

Total assets grew from approximately $3.73 billion in Q2 2022 to about $6.15 billion in Q2 2025, indicating expansion of the company's asset base.
Total liabilities also increased but at a controlled pace, with long-term debt around $493 million in Q2 2025, reflecting leverage management.
Shareholders' equity (common equity plus noncontrolling interests) expanded from $525 million in Q2 2022 to $723 million in Q2 2025, supporting a stronger equity base and potentially better solvency.

Summary

Tiptree Financial has demonstrated a strong recovery from losses in 2022 to consistent profitability and positive cash flow by mid-2025. The company has successfully grown its revenue streams, especially from fees and premiums, and managed its expenses to maintain robust pre-tax income levels. The balance sheet shows healthy growth in assets and equity, while cash balances have increased, improving liquidity. However, the net interest expense slightly exceeding income and large investing outflows warrant monitoring. Overall, Tiptree's financial trends appear positive for investors looking at steady growth and improving fundamentals.

09/17/25 11:20 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Tiptree Financial's Financials

When does Tiptree Financial's financial year end?

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

How has Tiptree Financial's net income changed over the last 10 years?

Tiptree Financial's net income appears to be on an upward trend, with a most recent value of $87.67 million in 2024, rising from $4.58 million in 2014. The previous period was $40.00 million in 2023.

How has Tiptree Financial's revenue changed over the last 10 years?

Over the last 10 years, Tiptree Financial's total revenue changed from $80.31 million in 2014 to $2.01 billion in 2024, a change of 2,403.5%.

How much debt does Tiptree Financial have?

Tiptree Financial's total liabilities were at $5.04 billion at the end of 2024, a 10.4% increase from 2023, and a 35.4% decrease since 2014.

How much cash does Tiptree Financial have?

In the past 10 years, Tiptree Financial's cash and equivalents has ranged from $49.79 million in 2016 to $538.07 million in 2022, and is currently $320.07 million as of their latest financial filing in 2024.

How has Tiptree Financial's book value per share changed over the last 10 years?

Over the last 10 years, Tiptree Financial's book value per share changed from 16.63 in 2014 to 12.35 in 2024, a change of -25.7%.

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This page (NASDAQ:TIPT) was last updated on 9/17/2025 by MarketBeat.com Staff

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Tiptree Financial (TIPT) Financials

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Tiptree Financial (TIPT) Financials

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