Free Trial

Heritage Insurance (HRTG) Financials

Heritage Insurance logo
$20.99 -0.35 (-1.64%)
Closing price 07/11/2025 03:59 PM Eastern
Extended Trading
$21.40 +0.41 (+1.95%)
As of 07/11/2025 07:46 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Heritage Insurance

Annual Income Statements for Heritage Insurance

This table shows Heritage Insurance'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
47 93 34 -1.12 27 29 9.33 -75 -154 45 62
Consolidated Net Income / (Loss)
47 93 34 -1.12 27 29 9.33 -75 -154 45 62
Net Income / (Loss) Continuing Operations
47 93 34 -1.12 27 29 9.33 -75 -154 45 62
Total Pre-Tax Income
74 150 56 -5.89 39 41 2.21 -76 -166 52 83
Total Revenue
234 395 354 310 375 503 585 624 654 724 806
Net Interest Income / (Expense)
0.00 0.00 -0.36 -13 -20 -8.52 -7.97 -7.97 -8.81 -11 -11
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 0.36 13 20 8.52 7.97 7.97 8.81 11 11
Long-Term Debt Interest Expense
- - 0.36 13 20 8.52 7.97 7.97 8.81 11 11
Total Non-Interest Income
234 395 355 323 396 511 593 632 662 735 817
Other Service Charges
6.06 9.60 16 15 15 14 14 15 14 14 13
Net Realized & Unrealized Capital Gains on Investments
4.15 8.93 -74 -72 -74 19 35 5.64 12 25 36
Premiums Earned
224 376 412 380 454 479 545 611 637 697 768
Total Non-Interest Expense
160 245 298 273 326 462 583 700 820 672 723
Property & Liability Insurance Claims
90 141 239 201 237 273 373 427 501 426 447
Insurance Policy Acquisition Costs
- - - - - 108 128 146 156 168 191
Other Operating Expenses
33 46 59 72 89 81 82 66 70 78 85
Impairment Charge
- - - - - 0.00 0.00 61 92 0.77 0.00
Income Tax Expense
27 58 23 -4.77 12 12 -7.11 -1.31 -12 6.70 21
Basic Earnings per Share
$1.92 $3.08 $1.14 ($0.04) $1.05 $0.98 $0.33 ($2.69) ($5.86) $1.73 $2.01
Weighted Average Basic Shares Outstanding
24.57M 30.06M 29.63M 26.80M 25.94M 29.21M 27.98M 27.80M 26.34M 26.19M 30.60M
Diluted Earnings per Share
$1.82 $3.05 $1.14 ($0.04) $1.04 $0.98 $0.33 ($2.69) ($5.86) $1.73 $2.01
Weighted Average Diluted Shares Outstanding
25.82M 30.33M 29.63M 26.80M 26.10M 29.23M 27.99M 27.80M 26.34M 26.25M 30.65M
Weighted Average Basic & Diluted Shares Outstanding
24.50M 30M 29.70M 28M 25.90M 28.93M 27.97M 26.82M 25.56M 30.22M 42.84M

Quarterly Income Statements for Heritage Insurance

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-48 13 14 7.78 -7.42 31 14 19 8.15 20 30
Consolidated Net Income / (Loss)
-48 13 14 7.78 -7.42 31 14 19 8.15 20 30
Net Income / (Loss) Continuing Operations
-48 13 14 7.78 -7.42 31 14 19 8.15 20 30
Total Pre-Tax Income
-49 12 17 14 -12 33 20 25 8.99 29 40
Total Revenue
165 170 174 183 184 184 188 201 209 208 209
Net Interest Income / (Expense)
-2.03 -3.06 -2.88 -2.74 -2.59 -3.00 -2.83 -2.78 -2.76 -2.57 -2.43
Total Interest Income
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense
2.03 3.06 2.88 2.74 2.59 3.00 2.83 2.78 2.76 2.57 2.43
Long-Term Debt Interest Expense
2.03 3.06 2.88 2.74 2.59 3.00 2.83 2.78 2.76 2.57 2.43
Total Non-Interest Income
165 175 177 185 186 187 191 204 212 210 212
Other Service Charges
2.92 3.63 3.41 3.48 3.17 3.47 3.33 3.47 3.20 3.20 2.92
Net Realized & Unrealized Capital Gains on Investments
2.88 4.79 7.48 5.03 6.49 5.79 8.55 9.78 9.81 7.79 8.57
Premiums Earned
160 166 166 177 177 178 179 190 199 199 200
Total Non-Interest Expense
213 160 157 169 196 151 169 176 200 179 169
Property & Liability Insurance Claims
156 104 97 107 131 91 102 106 130 109 99
Insurance Policy Acquisition Costs
39 40 40 41 42 43 47 47 49 49 46
Other Operating Expenses
18 15 19 20 22 17 20 23 22 21 24
Income Tax Expense
-1.10 -0.65 3.20 5.87 -4.60 2.23 5.65 5.99 0.84 8.66 9.54
Basic Earnings per Share
($1.83) $0.44 $0.55 $0.30 ($0.28) $1.16 $0.47 $0.62 $0.27 $0.65 $0.99
Weighted Average Basic Shares Outstanding
26.37M 26.34M 25.56M 25.57M 26.70M 26.19M 30.38M 30.65M 30.68M 30.60M 30.70M
Diluted Earnings per Share
($1.83) $0.44 $0.55 $0.30 ($0.28) $1.16 $0.47 $0.61 $0.27 $0.66 $0.99
Weighted Average Diluted Shares Outstanding
26.37M 26.34M 25.62M 25.63M 26.70M 26.25M 30.44M 30.71M 30.74M 30.65M 30.76M
Weighted Average Basic & Diluted Shares Outstanding
25.88M 25.56M 26.47M 25.56M 39.02M 30.22M 30.64M 30.68M 30.68M 42.84M 30.99M

Annual Cash Flow Statements for Heritage Insurance

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

Metric 2013 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024
Period end date 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
1.19 95 76 -123 48 21 163 -82 -77 186 -9.69
Net Cash From Operating Activities
105 194 153 83 7.49 120 170 60 -34 70 87
Net Cash From Continuing Operating Activities
105 194 147 83 7.49 120 170 60 -34 70 87
Net Income / (Loss) Continuing Operations
34 47 93 34 -1.12 29 9.33 -75 -154 45 62
Consolidated Net Income / (Loss)
34 47 93 34 -1.12 29 9.33 -75 -154 45 62
Provision For Loan Losses
- - -0.25 - 0.00 0.29 0.16 0.00 -0.00 0.86 0.05
Depreciation Expense
0.15 0.78 1.35 8.98 7.74 10 8.10 8.45 8.36 8.69 9.55
Amortization Expense
0.89 2.53 6.25 8.02 11 6.51 6.64 5.84 4.16 -3.02 -1.79
Non-Cash Adjustments to Reconcile Net Income
23 31 34 63 302 183 34 -35 626 -283 192
Changes in Operating Assets and Liabilities, net
47 112 19 -31 -312 -109 112 155 -518 301 -175
Net Cash From Investing Activities
-136 -200 -87 -249 -7.24 -54 22 -124 -38 101 -92
Net Cash From Continuing Investing Activities
-136 -200 -87 -249 -7.24 -54 22 -124 -38 101 -92
Purchase of Property, Leasehold Improvements and Equipment
-11 -6.93 -1.17 -1.62 -0.39 -4.98 -0.76 -1.01 -12 -9.89 -8.23
Purchase of Investment Securities
-133 -232 -244 -428 -357 -257 -471 -335 -135 -231 -287
Sale and/or Maturity of Investments
7.42 39 158 180 350 208 493 211 110 342 204
Net Cash From Financing Activities
33 101 9.64 44 48 -45 -29 -17 -5.06 15 -5.19
Net Cash From Continuing Financing Activities
33 101 9.64 44 48 -45 -29 -17 -5.06 15 -5.19
Issuance of Debt
- - - 78 149 0.00 0.00 2.78 35 0.00 5.50
Issuance of Common Equity
34 101 - - - - - 0.00 0.00 25 -0.00
Repayment of Debt
-1.00 - - - -25 -19 -9.67 -4.93 -5.32 -9.68 -9.77
Repurchase of Common Equity
- - - -26 -62 -16 -10.00 -8.19 -30 0.00 0.00
Payment of Dividends
- - - -6.81 -8.25 -6.96 -6.85 -6.71 -4.77 -0.01 0.05
Other Financing Activities, Net
- - 9.64 -1.72 -6.79 -3.52 -2.38 -0.23 -0.09 -0.43 -0.97
Cash Interest Paid
0.02 - - - 4.05 7.30 6.21 5.28 7.84 9.31 9.47
Cash Income Taxes Paid
28 13 69 32 4.50 14 16 0.53 -0.29 8.57 13

Quarterly Cash Flow Statements for Heritage Insurance

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents
7.47 -16 49 -80 -18 235 -76 94 29 -57 -24
Net Cash From Operating Activities
32 -19 15 9.17 -53 100 4.31 152 -13 -56 0.84
Net Cash From Continuing Operating Activities
32 -19 15 9.17 -53 100 4.31 152 -13 -56 0.84
Net Income / (Loss) Continuing Operations
-48 13 14 7.78 -7.42 31 14 19 8.15 20 30
Consolidated Net Income / (Loss)
-48 13 14 7.78 -7.42 31 14 19 8.15 20 30
Provision For Loan Losses
0.01 -0.01 0.03 0.06 -0.04 0.80 -0.80 0.10 0.02 0.74 0.01
Depreciation Expense
2.13 2.13 2.13 2.14 2.20 2.23 2.23 2.27 2.24 2.82 2.88
Amortization Expense
0.96 0.68 -0.16 -0.86 -1.10 -0.90 -0.53 -0.60 -0.73 0.07 0.05
Non-Cash Adjustments to Reconcile Net Income
617 -77 -156 -154 152 -125 -6.00 -18 -49 265 -203
Changes in Operating Assets and Liabilities, net
-539 43 155 154 -199 191 -4.82 150 26 -345 170
Net Cash From Investing Activities
-19 -4.36 37 -87 38 113 -83 -55 45 2.24 -3.47
Net Cash From Continuing Investing Activities
-19 -4.36 37 -87 38 113 -83 -55 45 2.24 -3.47
Purchase of Property, Leasehold Improvements and Equipment
-3.71 -3.93 -2.41 -3.68 -2.35 -1.45 -0.23 -2.46 -2.98 -2.56 -2.10
Purchase of Investment Securities
-29 -39 -110 -418 277 20 -113 -94 18 -99 -22
Sale and/or Maturity of Investments
13 39 149 335 -237 95 30 41 30 104 21
Net Cash From Financing Activities
-5.13 6.89 -2.38 -2.44 -2.44 22 3.11 -2.44 -2.44 -3.42 -22
Net Cash From Continuing Financing Activities
-5.13 6.89 -2.38 -2.44 -2.44 22 3.11 -2.44 -2.44 -3.42 -22
Issuance of Debt
10 10 0.00 - - - 5.50 - - - 0.00
Repayment of Debt
-12 20 -2.36 -2.44 -2.44 -2.44 -2.44 -2.44 -2.44 -2.45 -22
Repurchase of Common Equity
-1.73 -23 - - - - -0.00 - - 0.00 0.00
Payment of Dividends
-1.55 0.00 - - - - 0.05 - - - 0.00
Cash Interest Paid
1.97 3.59 2.38 2.38 2.05 2.51 2.40 2.15 2.67 2.24 2.09
Cash Income Taxes Paid
0.34 -6.51 -0.68 7.12 1.22 0.90 0.00 12 0.52 -0.11 0.00

Annual Balance Sheets for Heritage Insurance

This table presents Heritage Insurance'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
615 837 1,033 1,771 1,769 1,940 2,089 1,981 2,393 2,120 2,469
Cash and Due from Banks
160 236 106 154 250 268 441 359 281 464 453
Restricted Cash
4.34 13 21 21 12 15 5.43 5.42 6.69 9.70 11
Trading Account Securities
324 400 603 567 526 589 563 671 637 562 657
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
2.62 3.41 4.76 5.06 4.47 4.38 2.74 3.17 3.82 4.07 5.59
Premises and Equipment, Net
17 17 17 19 18 21 19 17 26 33 38
Unearned Premiums Asset
63 109 149 296 608 717 678 607 1,205 866 1,152
Deferred Acquisition Cost
24 35 43 42 73 77 89 94 100 69 63
Intangible Assets
- 2.12 27 102 77 69 62 56 50 43 36
Other Assets
12 13 16 415 47 28 77 76 84 69 52
Total Liabilities & Shareholders' Equity
615 837 1,033 1,771 1,769 1,940 2,089 1,981 2,393 2,120 2,469
Total Liabilities
360 481 675 1,391 1,343 1,491 1,647 1,638 2,262 1,899 2,178
Non-Interest Bearing Deposits
5.14 12 19 24 20 17 18 25 27 24 15
Long-Term Debt
- - 73 184 149 129 121 121 129 120 116
Claims and Claim Expense
51 84 140 470 432 614 659 590 1,132 846 1,043
Unearned Premiums Liability
241 302 318 475 472 486 570 590 657 676 703
Other Long-Term Liabilities
62 82 126 238 270 245 279 312 318 234 301
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
255 357 358 380 425 449 442 343 131 220 291
Total Preferred & Common Equity
255 357 358 380 425 449 442 343 131 220 291
Total Common Equity
255 357 358 380 425 449 442 343 131 220 291
Common Stock
188 203 206 295 325 330 332 333 335 360 363
Retained Earnings
65 156 183 175 196 217 220 138 -19 26 88
Treasury Stock
- - -26 -87 -89 -105 -115 -124 -131 -131 -131
Accumulated Other Comprehensive Income / (Loss)
1.72 -2.03 -5.02 -3.06 -6.53 7.33 6.06 -4.57 -54 -35 -29

Quarterly Balance Sheets for Heritage Insurance

This table presents Heritage Insurance'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
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
Total Assets
2,030 2,523 2,159 2,357 2,369 2,130 2,599 2,374 2,213
Cash and Due from Banks
291 298 330 247 229 386 481 510 426
Restricted Cash
5.42 6.27 6.70 9.68 9.73 11 11 11 13
Trading Account Securities
637 635 615 697 653 646 701 674 668
Loans and Leases, Net of Allowance
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income
3.22 3.52 3.54 3.57 3.73 4.58 5.15 5.23 5.23
Premises and Equipment, Net
20 23 28 31 32 33 35 37 39
Unearned Premiums Asset
839 457 951 1,140 1,211 837 1,143 929 899
Deferred Acquisition Cost
99 101 98 107 104 104 115 109 64
Intangible Assets
53 51 48 46 44 41 39 38 35
Other Assets
73 948 79 77 81 67 70 61 64
Total Liabilities & Shareholders' Equity
2,030 2,523 2,159 2,357 2,369 2,130 2,599 2,374 2,213
Total Liabilities
1,849 2,405 2,004 2,196 2,217 1,895 2,344 2,095 1,884
Non-Interest Bearing Deposits
38 38 40 39 34 37 26 28 22
Long-Term Debt
123 121 127 124 122 123 121 119 95
Claims and Claim Expense
554 1,209 981 818 971 844 822 775 849
Unearned Premiums Liability
655 652 650 716 689 691 766 724 705
Other Long-Term Liabilities
479 384 207 499 401 200 609 449 214
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
181 118 155 161 151 235 255 279 329
Total Preferred & Common Equity
181 118 155 161 151 235 255 279 329
Total Common Equity
181 118 155 161 151 235 255 279 329
Common Stock
334 334 335 336 337 361 362 363 364
Retained Earnings
17 -32 -5.18 2.60 -4.83 40 59 67 118
Treasury Stock
-129 -130 -131 -131 -131 -131 -131 -131 -131
Accumulated Other Comprehensive Income / (Loss)
-41 -55 -44 -47 -50 -35 -35 -20 -22

Annual Metrics And Ratios for Heritage Insurance

This table displays calculated financial ratios and metrics derived from Heritage Insurance'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
87.31% 68.84% -10.29% -12.61% 21.31% 33.90% 16.43% 6.52% 4.82% 10.81% 11.29%
EBITDA Growth
37.27% 103.57% -53.51% -24.80% 34.49% -21.95% -70.73% -464.12% -148.84% 137.54% 56.81%
EBIT Growth
33.88% 102.41% -62.47% -35.60% 36.33% -17.21% -94.60% -3,535.79% -118.55% 131.30% 58.98%
NOPAT Growth
37.66% 96.43% -63.39% -24.92% 35.62% -16.96% -67.43% -670.70% -118.55% 138.95% 35.83%
Net Income Growth
37.66% 96.43% -63.39% -103.30% 2,526.72% 5.45% -67.43% -901.28% -106.57% 129.35% 35.83%
EPS Growth
-22.88% 67.58% -62.62% -103.51% 2,700.00% -5.77% -66.33% -915.15% -117.84% 129.52% 16.19%
Operating Cash Flow Growth
84.86% -21.15% -45.82% -90.97% 1,186.39% 24.21% 42.25% -64.67% -156.98% 305.53% 23.69%
Free Cash Flow Firm Growth
0.00% 91.64% -351.81% -166.85% 122.77% 0.55% -2.77% 92.71% 88.96% -139.68% 83.97%
Invested Capital Growth
152.80% 39.78% 20.84% 30.95% 1.76% 0.68% -2.54% -17.67% -43.95% 30.78% 19.74%
Revenue Q/Q Growth
0.00% 4.21% -19.04% 16.70% 9.15% 23.54% -58.84% 431.21% 0.74% 2.04% 3.03%
EBITDA Q/Q Growth
0.00% 1.83% -31.84% 73.00% -13.24% 21.36% -96.17% 85.40% 26.02% 61.08% -2.86%
EBIT Q/Q Growth
0.00% 1.40% -39.81% 155.88% -0.71% 4.26% -99.48% 82.60% 24.77% 81.46% -4.86%
NOPAT Q/Q Growth
0.00% 0.61% -40.55% 2,269.76% 89.71% 45.01% -51.77% -98.82% 25.45% 68.65% -14.75%
Net Income Q/Q Growth
0.00% 0.61% -40.55% -204.29% 49.38% 45.01% -51.77% -229.18% 28.56% 68.65% -14.75%
EPS Q/Q Growth
0.00% -0.65% -39.68% -500.00% 42.47% 38.03% -50.75% -228.05% 27.39% 71.29% -19.92%
Operating Cash Flow Q/Q Growth
156.99% -16.77% -60.43% -90.76% 423.13% -21.35% 39.44% -51.67% -21.83% 246.33% -64.15%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% -433.71% 3.63% 140.70% 96.88% -19.05% 271.86% -33.45% -356.46% 89.35%
Invested Capital Q/Q Growth
0.00% 7.27% 14.21% 15.07% 0.92% 0.34% -0.42% -11.91% 8.79% 24.34% 2.32%
Profitability Metrics
- - - - - - - - - - -
EBITDA Margin
33.17% 39.99% 20.72% 17.83% 19.77% 11.52% 2.90% -9.90% -23.51% 7.96% 11.22%
EBIT Margin
31.76% 38.07% 15.93% 11.74% 13.19% 8.15% 0.38% -12.19% -25.42% 7.18% 10.26%
Profit (Net Income) Margin
20.14% 23.43% 9.56% -0.36% 7.23% 5.70% 1.59% -11.98% -23.62% 6.26% 7.63%
Tax Burden Percent
63.43% 61.56% 60.04% 18.99% 69.64% 69.85% 421.42% 98.28% 92.89% 87.12% 74.43%
Interest Burden Percent
100.00% 100.00% 100.00% -16.22% 78.74% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
36.57% 38.44% 39.96% 0.00% 30.36% 30.15% -321.42% 0.00% 0.00% 12.88% 25.56%
Return on Invested Capital (ROIC)
26.46% 30.25% 8.60% 5.11% 6.06% 4.97% 1.63% -10.36% -32.14% 15.10% 16.47%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 0.00% 8.60% -15.52% 1.66% 4.97% 1.63% -28.15% -62.61% 15.10% 16.47%
Return on Net Nonoperating Assets (RNNOA)
0.00% 0.00% 0.88% -5.41% 0.69% 1.58% 0.46% -8.67% -32.98% 10.69% 7.61%
Return on Equity (ROE)
0.00% 0.00% 9.48% -0.30% 6.75% 6.55% 2.09% -19.03% -65.12% 25.79% 24.08%
Cash Return on Invested Capital (CROIC)
-60.16% -2.93% -10.27% -21.69% 4.32% 4.29% 4.21% 9.02% 24.18% -11.57% -1.49%
Operating Return on Assets (OROA)
16.56% 20.70% 6.03% 2.59% 2.80% 2.21% 0.11% -3.74% -7.60% 2.31% 3.60%
Return on Assets (ROA)
10.50% 12.74% 3.62% -0.08% 1.53% 1.54% 0.46% -3.67% -7.06% 2.01% 2.68%
Return on Common Equity (ROCE)
0.00% 0.00% 9.48% -0.30% 6.75% 6.55% 2.09% -19.03% -65.12% 25.79% 24.08%
Return on Equity Simple (ROE_SIMPLE)
18.46% 25.95% 9.46% -0.29% 6.38% 6.38% 2.11% -21.78% -117.80% 20.57% 21.16%
Net Operating Profit after Tax (NOPAT)
47 93 34 25 34 29 9.33 -53 -116 45 62
NOPAT Margin
20.14% 23.43% 9.56% 8.22% 9.18% 5.70% 1.59% -8.54% -17.80% 6.26% 7.63%
Net Nonoperating Expense Percent (NNEP)
0.00% 0.00% 0.00% 20.63% 4.40% 0.00% 0.00% 17.79% 30.47% 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% 0.00%
Operating Expenses to Revenue
68.24% 61.93% 84.07% 88.26% 86.81% 91.85% 99.62% 112.19% 125.42% 92.82% 89.74%
Earnings before Interest and Taxes (EBIT)
74 150 56 36 50 41 2.21 -76 -166 52 83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
78 158 73 55 74 58 17 -62 -154 58 90
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.96 1.60 1.22 1.04 0.84 0.80 0.61 0.47 0.36 1.15 1.28
Price to Tangible Book Value (P/TBV)
1.96 1.65 1.53 3.13 1.81 1.59 1.18 0.82 0.57 1.43 1.46
Price to Revenue (P/Rev)
2.14 1.45 1.23 1.27 0.95 0.72 0.46 0.26 0.07 0.35 0.46
Price to Earnings (P/E)
10.62 6.18 12.85 0.00 13.09 12.61 28.77 0.00 0.00 5.61 6.03
Dividend Yield
0.00% 0.26% 2.03% 1.86% 1.80% 1.96% 2.51% 4.19% 13.33% 0.00% 0.00%
Earnings Yield
9.42% 16.17% 7.79% 0.00% 7.64% 7.93% 3.48% 0.00% 0.00% 17.81% 16.57%
Enterprise Value to Invested Capital (EV/IC)
1.31 0.90 0.88 0.71 0.42 0.36 0.00 0.00 0.00 0.00 0.06
Enterprise Value to Revenue (EV/Rev)
1.43 0.82 1.08 1.30 0.64 0.41 0.00 0.00 0.00 0.00 0.03
Enterprise Value to EBITDA (EV/EBITDA)
4.32 2.04 5.19 7.30 3.26 3.58 0.00 0.00 0.00 0.00 0.26
Enterprise Value to EBIT (EV/EBIT)
4.51 2.15 6.76 11.10 4.89 5.06 0.00 0.00 0.00 0.00 0.29
Enterprise Value to NOPAT (EV/NOPAT)
7.12 3.49 11.26 15.85 7.02 7.24 0.00 0.00 0.00 0.00 0.39
Enterprise Value to Operating Cash Flow (EV/OCF)
1.73 2.11 4.60 53.82 2.51 1.73 0.00 0.00 0.00 0.00 0.28
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 9.84 8.39 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.00 0.00 0.20 0.49 0.35 0.29 0.27 0.35 0.98 0.54 0.40
Long-Term Debt to Equity
0.00 0.00 0.20 0.49 0.35 0.29 0.27 0.35 0.98 0.54 0.40
Financial Leverage
0.00 0.00 0.10 0.35 0.41 0.32 0.28 0.31 0.53 0.71 0.46
Leverage Ratio
2.52 2.37 2.62 3.80 4.40 4.24 4.52 5.18 9.22 12.84 8.98
Compound Leverage Factor
2.52 2.37 2.62 -0.62 3.46 4.24 4.52 5.18 9.22 12.84 8.98
Debt to Total Capital
0.00% 0.00% 16.92% 32.68% 25.92% 22.36% 21.48% 26.04% 49.60% 35.21% 28.57%
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
0.00% 0.00% 16.92% 32.68% 25.92% 22.36% 21.48% 26.04% 49.60% 35.21% 28.57%
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% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
100.00% 100.00% 83.08% 67.32% 74.08% 77.64% 78.52% 73.96% 50.40% 64.79% 71.43%
Debt to EBITDA
0.00 0.00 0.99 3.34 2.00 2.23 7.14 -1.96 -0.84 2.08 1.29
Net Debt to EBITDA
0.00 0.00 -0.73 0.18 -1.53 -2.65 -19.19 3.95 1.03 -6.13 -3.84
Long-Term Debt to EBITDA
0.00 0.00 0.99 3.34 2.00 2.23 7.14 -1.96 -0.84 2.08 1.29
Debt to NOPAT
0.00 0.00 2.15 7.25 4.31 4.51 12.97 -2.27 -1.11 2.64 1.89
Net Debt to NOPAT
0.00 0.00 -1.59 0.39 -3.29 -5.37 -34.89 4.58 1.36 -7.80 -5.64
Long-Term Debt to NOPAT
0.00 0.00 2.15 7.25 4.31 4.51 12.97 -2.27 -1.11 2.64 1.89
Noncontrolling Interest Sharing Ratio
5.88% 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)
-107 -8.95 -40 -108 25 25 24 46 88 -35 -5.57
Operating Cash Flow to CapEx
2,802.66% 13,042.67% 5,117.52% 1,945.19% 0.00% 2,400.82% 22,544.50% 5,971.20% -276.69% 711.98% 1,058.26%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 -111.73 -8.17 1.23 2.90 3.01 5.81 9.93 -3.10 -0.51
Operating Cash Flow to Interest Expense
0.00 0.00 229.16 0.57 4.81 14.04 21.35 7.54 -3.89 6.28 7.97
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 224.68 0.54 4.93 13.45 21.26 7.42 -5.29 5.40 7.21
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.52 0.54 0.38 0.22 0.21 0.27 0.29 0.31 0.30 0.32 0.35
Fixed Asset Turnover
16.69 23.09 20.66 17.23 20.44 25.95 29.69 34.54 30.29 24.57 22.61
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
255 357 431 564 574 578 563 464 260 340 407
Invested Capital Turnover
1.31 1.29 0.90 0.62 0.66 0.87 1.03 1.21 1.81 2.41 2.16
Increase / (Decrease) in Invested Capital
154 101 74 133 9.91 3.92 -15 -100 -204 80 67
Enterprise Value (EV)
335 323 381 403 242 207 -57 -84 -112 -99 24
Market Capitalization
500 572 435 393 356 361 268 160 47 254 371
Book Value per Share
$8.56 $11.77 $11.34 $15.57 $15.99 $15.20 $15.76 $12.30 $5.06 $8.41 $9.48
Tangible Book Value per Share
$8.56 $11.44 $9.03 $5.15 $7.37 $7.71 $8.11 $7.00 $3.15 $6.79 $8.29
Total Capital
255 357 431 564 574 578 563 464 260 340 407
Total Debt
0.00 0.00 73 184 149 129 121 121 129 120 116
Total Long-Term Debt
0.00 0.00 73 184 149 129 121 121 129 120 116
Net Debt
-165 -249 -54 9.88 -114 -154 -325 -244 -159 -354 -347
Capital Expenditures (CapEx)
6.93 1.17 1.62 0.39 -2.28 4.98 0.76 1.01 12 9.89 8.23
Net Nonoperating Expense (NNE)
0.00 0.00 0.00 27 7.33 0.00 0.00 22 38 0.00 0.00
Net Nonoperating Obligations (NNO)
0.00 0.00 73 184 149 129 121 121 129 120 116
Total Depreciation and Amortization (D&A)
3.31 7.60 17 19 25 17 15 14 13 5.67 7.76
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.92 $3.08 $1.14 ($0.04) $1.05 $0.98 $0.33 ($2.69) ($5.86) $1.73 $2.01
Adjusted Weighted Average Basic Shares Outstanding
24.57M 30.06M 29.63M 26.80M 25.94M 29.21M 27.98M 27.80M 26.34M 26.19M 30.60M
Adjusted Diluted Earnings per Share
$1.82 $3.05 $1.14 ($0.04) $1.04 $0.98 $0.33 ($2.69) ($5.86) $1.73 $2.01
Adjusted Weighted Average Diluted Shares Outstanding
25.82M 30.33M 29.63M 26.80M 26.10M 29.23M 27.99M 27.80M 26.34M 26.25M 30.65M
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
29.79M 30.44M 29.74M 26.56M 30.36M 28.93M 27.97M 26.82M 25.56M 30.22M 42.84M
Normalized Net Operating Profit after Tax (NOPAT)
47 93 34 25 34 29 1.55 -11 -52 46 62
Normalized NOPAT Margin
20.14% 23.43% 9.56% 8.22% 9.18% 5.70% 0.26% -1.74% -7.95% 6.35% 7.63%
Pre Tax Income Margin
31.76% 38.07% 15.93% -1.90% 10.38% 8.15% 0.38% -12.19% -25.42% 7.18% 10.26%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 155.81 2.75 2.47 4.81 0.28 -9.54 -18.86 4.64 7.56
NOPAT to Interest Expense
0.00 0.00 93.55 1.92 1.72 3.36 1.17 -6.68 -13.20 4.04 5.63
EBIT Less CapEx to Interest Expense
0.00 0.00 151.33 2.72 2.59 4.23 0.18 -9.67 -20.27 3.76 6.81
NOPAT Less CapEx to Interest Expense
0.00 0.00 89.07 1.90 1.84 2.78 1.08 -6.80 -14.61 3.16 4.88
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 20.10% -737.18% -23.49% 24.30% 73.47% -8.98% -3.09% 0.02% -0.09%
Augmented Payout Ratio
0.00% 0.00% 95.58% -6,244.15% -30.86% 80.81% 180.67% -19.94% -22.44% 0.02% -0.09%

Quarterly Metrics And Ratios for Heritage Insurance

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
0.14% 2.92% 11.11% 12.69% 11.01% 8.53% 8.29% 9.98% 13.82% 12.90% 10.94%
EBITDA Growth
-226.51% 130.49% 150.59% 117.74% 75.29% 173.19% 12.51% 77.71% 196.13% -7.71% 99.02%
EBIT Growth
-169.92% 121.89% 141.59% 115.64% 74.58% 237.64% 15.48% 82.10% 174.79% -12.72% 101.32%
NOPAT Growth
-181.48% 139.79% 148.36% 112.73% 75.62% 147.51% 1.55% 142.56% 196.84% -34.42% 114.23%
Net Income Growth
-193.97% 125.40% 145.54% 108.85% 84.61% 147.51% 1.55% 142.56% 209.81% -34.42% 114.23%
EPS Growth
-210.17% 124.86% 147.83% 109.04% 84.70% 163.64% -14.55% 103.33% 196.43% -43.10% 110.64%
Operating Cash Flow Growth
201.34% -48.55% 138.12% 210.13% -266.78% 631.19% -71.18% 1,559.54% 75.00% -156.21% -80.57%
Free Cash Flow Firm Growth
838.60% 217.58% 22.67% -85.38% -116.95% -122.69% -145.13% -374.56% -171.14% 4.63% 43.18%
Invested Capital Growth
-54.61% -43.95% -30.59% -6.11% 14.42% 30.78% 27.19% 31.97% 45.51% 19.74% 18.40%
Revenue Q/Q Growth
2.14% 2.42% 2.68% 4.90% 0.62% 0.14% 3.91% 6.54% 4.14% -0.67% 0.67%
EBITDA Q/Q Growth
47.46% 128.56% 51.85% -22.16% -173.19% 415.78% -32.39% 22.95% -60.41% 203.16% 34.86%
EBIT Q/Q Growth
45.81% 120.77% 75.18% -20.68% -188.09% 375.82% -35.01% 25.08% -63.82% 221.87% 38.21%
NOPAT Q/Q Growth
43.49% 136.20% 12.05% -44.47% -208.22% 467.58% -54.03% 32.65% -56.80% 148.95% 50.16%
Net Income Q/Q Growth
45.10% 125.92% 12.05% -44.47% -195.44% 516.81% -54.03% 32.65% -56.80% 148.93% 50.17%
EPS Q/Q Growth
44.88% 124.04% 25.00% -45.45% -193.33% 514.29% -59.48% 29.79% -55.74% 144.44% 50.00%
Operating Cash Flow Q/Q Growth
484.86% -158.59% 179.58% -38.63% -682.81% 286.60% -95.68% 3,433.66% -108.78% -319.59% 101.49%
Free Cash Flow Firm Q/Q Growth
40.53% -14.49% -36.19% -80.94% -263.01% -14.45% -26.91% -15.97% -60.98% 59.75% 24.39%
Invested Capital Q/Q Growth
-21.27% 8.79% 8.25% 1.27% -4.05% 24.34% 5.27% 5.08% 5.79% 2.32% 4.10%
Profitability Metrics
- - - - - - - - - - -
EBITDA Margin
-26.72% 7.45% 11.02% 8.18% -5.95% 18.75% 11.45% 13.21% 5.02% 15.33% 20.53%
EBIT Margin
-28.59% 5.80% 9.89% 7.48% -6.55% 18.03% 10.54% 12.38% 4.30% 13.94% 19.13%
Profit (Net Income) Margin
-29.15% 7.38% 8.05% 4.26% -4.04% 16.82% 7.55% 9.40% 3.90% 9.77% 14.57%
Tax Burden Percent
97.78% 105.49% 81.39% 56.98% 61.73% 93.29% 71.58% 75.90% 90.64% 70.10% 76.17%
Interest Burden Percent
104.28% 120.63% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
0.00% -5.49% 18.61% 43.02% 0.00% 6.71% 28.42% 24.10% 9.36% 29.90% 23.83%
Return on Invested Capital (ROIC)
-35.38% 13.32% 15.73% 10.01% -12.70% 40.61% 17.44% 21.52% 9.09% 21.08% 30.82%
ROIC Less NNEP Spread (ROIC-NNEP)
-46.67% 13.32% 15.73% 10.01% -11.88% 40.61% 17.44% 21.52% 9.09% 21.08% 30.82%
Return on Net Nonoperating Assets (RNNOA)
-21.67% 7.02% 9.02% 7.26% -10.74% 28.75% 11.18% 12.68% 5.08% 9.74% 11.91%
Return on Equity (ROE)
-57.05% 20.34% 24.75% 17.27% -23.44% 69.36% 28.62% 34.20% 14.16% 30.82% 42.73%
Cash Return on Invested Capital (CROIC)
34.36% 24.18% 14.19% 4.72% -2.97% -11.57% -9.70% -10.44% -15.57% -1.49% 3.05%
Operating Return on Assets (OROA)
-7.78% 1.73% 3.32% 2.36% -1.90% 5.79% 3.63% 3.78% 1.42% 4.90% 7.28%
Return on Assets (ROA)
-7.93% 2.20% 2.70% 1.34% -1.17% 5.40% 2.60% 2.87% 1.29% 3.43% 5.55%
Return on Common Equity (ROCE)
-57.05% 20.34% 24.75% 17.27% -23.44% 69.36% 28.62% 34.20% 14.16% 30.82% 42.73%
Return on Equity Simple (ROE_SIMPLE)
-183.59% 0.00% -70.83% -8.69% 17.75% 0.00% 19.38% 22.17% 25.84% 0.00% 23.64%
Net Operating Profit after Tax (NOPAT)
-35 13 14 7.78 -8.42 31 14 19 8.15 20 30
NOPAT Margin
-20.87% 7.38% 8.05% 4.26% -4.58% 16.82% 7.55% 9.40% 3.90% 9.77% 14.57%
Net Nonoperating Expense Percent (NNEP)
11.29% 0.00% 0.00% 0.00% -0.82% 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% 0.00%
Operating Expenses to Revenue
128.59% 94.20% 90.11% 92.52% 106.55% 81.97% 89.46% 87.62% 95.70% 86.06% 80.87%
Earnings before Interest and Taxes (EBIT)
-47 9.82 17 14 -12 33 20 25 8.99 29 40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-44 13 19 15 -11 34 22 27 11 32 43
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.51 0.36 0.51 0.63 1.10 1.15 1.37 0.85 1.34 1.28 1.88
Price to Tangible Book Value (P/TBV)
0.90 0.57 0.74 0.89 1.55 1.43 1.66 1.00 1.56 1.46 2.10
Price to Revenue (P/Rev)
0.09 0.07 0.12 0.15 0.23 0.35 0.44 0.29 0.48 0.46 0.75
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 6.17 5.61 7.07 3.83 5.20 6.03 7.94
Dividend Yield
10.62% 13.33% 7.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 16.20% 17.81% 14.15% 26.10% 19.22% 16.57% 12.59%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.00 0.00 0.00 0.18 0.00 0.13 0.00 0.00 0.06 0.64
Enterprise Value to Revenue (EV/Rev)
0.00 0.00 0.00 0.00 0.07 0.00 0.06 0.00 0.00 0.03 0.33
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 1.38 0.00 0.79 0.00 0.00 0.26 2.44
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 1.72 0.00 0.87 0.00 0.00 0.29 2.66
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 1.84 0.00 1.04 0.00 0.00 0.39 3.51
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.79 0.00 0.00 0.28 3.27
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22.92
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.03 0.98 0.82 0.77 0.81 0.54 0.52 0.47 0.42 0.40 0.29
Long-Term Debt to Equity
1.03 0.98 0.82 0.77 0.81 0.54 0.52 0.47 0.42 0.40 0.29
Financial Leverage
0.46 0.53 0.57 0.73 0.90 0.71 0.64 0.59 0.56 0.46 0.39
Leverage Ratio
9.13 9.22 9.15 12.86 18.18 12.84 11.01 11.92 11.01 8.98 7.70
Compound Leverage Factor
9.52 11.13 9.15 12.86 18.18 12.84 11.01 11.92 11.01 8.98 7.70
Debt to Total Capital
50.75% 49.60% 45.02% 43.64% 44.64% 35.21% 34.37% 32.11% 29.79% 28.57% 22.37%
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
50.75% 49.60% 45.02% 43.64% 44.64% 35.21% 34.37% 32.11% 29.79% 28.57% 22.37%
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% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
49.25% 50.40% 54.98% 56.36% 55.36% 64.79% 65.63% 67.89% 70.21% 71.43% 77.63%
Debt to EBITDA
-0.58 -0.84 -1.31 49.49 3.41 2.08 2.05 1.69 1.27 1.29 0.85
Net Debt to EBITDA
0.88 1.03 2.17 -52.68 -3.25 -6.13 -4.57 -5.18 -4.32 -3.84 -3.08
Long-Term Debt to EBITDA
-0.58 -0.84 -1.31 49.49 3.41 2.08 2.05 1.69 1.27 1.29 0.85
Debt to NOPAT
-0.78 -1.11 -1.68 -26.83 4.54 2.64 2.70 2.13 1.64 1.89 1.22
Net Debt to NOPAT
1.17 1.36 2.79 28.56 -4.34 -7.80 -6.03 -6.56 -5.57 -5.64 -4.43
Long-Term Debt to NOPAT
-0.78 -1.11 -1.68 -26.83 4.54 2.64 2.70 2.13 1.64 1.89 1.22
Noncontrolling Interest Sharing Ratio
0.00% 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)
253 216 138 26 -43 -49 -62 -72 -116 -47 -35
Operating Cash Flow to CapEx
864.72% -477.62% 619.39% 249.33% -2,272.04% 6,903.60% 1,881.22% 6,180.67% -449.24% -2,187.98% 39.93%
Free Cash Flow to Firm to Interest Expense
124.81 70.72 47.91 9.60 -16.55 -16.37 -22.01 -25.99 -42.21 -18.22 -14.59
Operating Cash Flow to Interest Expense
15.81 -6.14 5.19 3.35 -20.63 33.27 1.52 54.76 -4.85 -21.83 0.35
Operating Cash Flow Less CapEx to Interest Expense
13.99 -7.42 4.35 2.01 -21.54 32.79 1.44 53.87 -5.93 -22.83 -0.52
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.27 0.30 0.34 0.32 0.29 0.32 0.34 0.31 0.33 0.35 0.38
Fixed Asset Turnover
31.86 30.29 29.99 27.48 25.72 24.57 24.47 23.21 22.61 22.61 23.09
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
239 260 281 285 273 340 358 376 398 407 424
Invested Capital Turnover
1.70 1.81 1.95 2.35 2.77 2.41 2.31 2.29 2.33 2.16 2.11
Increase / (Decrease) in Invested Capital
-288 -204 -124 -19 34 80 77 91 124 67 66
Enterprise Value (EV)
-122 -112 -131 -30 49 -99 47 -154 -27 24 273
Market Capitalization
60 47 79 102 166 254 322 217 376 371 618
Book Value per Share
$4.43 $5.06 $6.05 $6.07 $5.92 $8.41 $7.77 $8.33 $9.10 $9.48 $10.72
Tangible Book Value per Share
$2.50 $3.15 $4.18 $4.34 $4.20 $6.79 $6.42 $7.05 $7.87 $8.29 $9.58
Total Capital
239 260 281 285 273 340 358 376 398 407 424
Total Debt
121 129 127 124 122 120 123 121 119 116 95
Total Long-Term Debt
121 129 127 124 122 120 123 121 119 116 95
Net Debt
-183 -159 -210 -132 -117 -354 -274 -371 -402 -347 -345
Capital Expenditures (CapEx)
3.71 3.93 2.41 3.68 2.35 1.45 0.23 2.46 2.98 2.56 2.10
Net Nonoperating Expense (NNE)
14 0.00 0.00 0.00 -0.99 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)
121 129 127 124 122 120 123 121 119 116 95
Total Depreciation and Amortization (D&A)
3.09 2.80 1.97 1.28 1.10 1.33 1.70 1.67 1.51 2.89 2.93
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($1.83) $0.44 $0.55 $0.30 ($0.28) $1.16 $0.47 $0.62 $0.27 $0.65 $0.99
Adjusted Weighted Average Basic Shares Outstanding
26.37M 26.34M 25.56M 25.57M 26.70M 26.19M 30.38M 30.65M 30.68M 30.60M 30.70M
Adjusted Diluted Earnings per Share
($1.83) $0.44 $0.55 $0.30 ($0.28) $1.16 $0.47 $0.61 $0.27 $0.66 $0.99
Adjusted Weighted Average Diluted Shares Outstanding
26.37M 26.34M 25.62M 25.63M 26.70M 26.25M 30.44M 30.71M 30.74M 30.65M 30.76M
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
25.88M 25.56M 26.47M 25.56M 39.02M 30.22M 30.64M 30.68M 30.68M 42.84M 30.99M
Normalized Net Operating Profit after Tax (NOPAT)
-35 8.30 14 8.22 -8.42 31 14 19 8.15 20 30
Normalized NOPAT Margin
-20.87% 4.89% 8.05% 4.50% -4.58% 16.82% 7.55% 9.40% 3.90% 9.77% 14.57%
Pre Tax Income Margin
-29.81% 6.99% 9.89% 7.48% -6.55% 18.03% 10.54% 12.38% 4.30% 13.94% 19.13%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-23.34 3.21 5.97 4.98 -4.64 11.06 7.02 8.94 3.26 11.27 16.49
NOPAT to Interest Expense
-17.04 4.09 4.86 2.84 -3.25 10.32 5.03 6.79 2.96 7.90 12.56
EBIT Less CapEx to Interest Expense
-25.17 1.93 5.14 3.64 -5.55 10.58 6.94 8.06 2.18 10.27 15.63
NOPAT Less CapEx to Interest Expense
-18.87 2.80 4.02 1.50 -4.16 9.84 4.95 5.90 1.88 6.90 11.70
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
-2.99% -3.09% 0.00% -11.17% 0.04% 0.02% 0.00% -0.10% -0.07% -0.09% 0.00%
Augmented Payout Ratio
-9.43% -22.44% 0.00% -27.97% 2.32% 0.02% 0.00% -0.09% -0.07% -0.09% 0.00%

Key Financial Trends

Heritage Insurance (NYSE:HRTG) has delivered solid top‐line and profitability growth over the last four years, with premiums and investment gains driving revenue up by roughly 11% annually from Q1 2022 to Q1 2025. Net income more than doubled in that span, while book value per share climbed from $7.77 to $10.72. The company maintains a strong capital base, modest leverage and industry‐low valuation multiples.

  • Revenue growth of ~10% annually, from $174 M (Q1 2022) to $209 M (Q1 2025).
  • Net income up from $14 M (Q1 2022) to $30 M (Q1 2025), +114% over three years.
  • Book value per share rose from $7.77 to $10.72; tangible book from $6.42 to $9.58.
  • Return on Invested Capital (ROIC) climbed from ~17% to ~31%; ROE from ~29% to ~43%.
  • Net cash position: ~−$345 M net debt vs. $424 M invested capital (Q1 2025), maintaining financial flexibility.
  • Free cash flow to firm remains negative (−$35 M in Q1 2025) amid investment in growth.
  • No dividend yield, reflecting reinvestment of earnings into balance sheet and operations.
  • Pricing multiples modest: P/E ~7.9×, P/TBV ~2.1×, P/Rev ~0.75×; EV/EBITDA ~2.4×.
  • Operating cash flow in Q1 2025 was just $0.8 M, down sharply from prior quarters.
  • High operating expense ratio (~81% of revenue) limits profit margin expansion.
07/12/25 10:08 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Heritage Insurance's Financials

When does Heritage Insurance's financial year end?

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

How has Heritage Insurance's net income changed over the last 10 years?

Heritage Insurance's net income appears to be on a downward trend, with a most recent value of $61.54 million in 2024, rising from $47.10 million in 2014. The previous period was $45.31 million in 2023. Check out Heritage Insurance's forecast to explore projected trends and price targets.

How has Heritage Insurance's revenue changed over the last 10 years?

Over the last 10 years, Heritage Insurance's total revenue changed from $233.82 million in 2014 to $806.05 million in 2024, a change of 244.7%.

How much debt does Heritage Insurance have?

Heritage Insurance's total liabilities were at $2.18 billion at the end of 2024, a 14.7% increase from 2023, and a 505.1% increase since 2014.

How much cash does Heritage Insurance have?

In the past 10 years, Heritage Insurance's cash and equivalents has ranged from $105.82 million in 2016 to $463.64 million in 2023, and is currently $452.67 million as of their latest financial filing in 2024.

How has Heritage Insurance's book value per share changed over the last 10 years?

Over the last 10 years, Heritage Insurance's book value per share changed from 8.56 in 2014 to 9.48 in 2024, a change of 10.7%.



This page (NYSE:HRTG) was last updated on 7/12/2025 by MarketBeat.com Staff
From Our Partners