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Neptune Insurance (NP) Financials

Neptune Insurance logo
$32.15 -0.68 (-2.08%)
Closing price 03:59 PM Eastern
Extended Trading
$32.00 -0.15 (-0.46%)
As of 04:10 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 Massive. Learn more.
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Annual Income Statements for Neptune Insurance

Annual Income Statements for Neptune Insurance

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 9.75 15 -27
Consolidated Net Income / (Loss)		 18 35 37
Net Income / (Loss) Continuing Operations		 18 35 37
Total Pre-Tax Income 		24 46 54
Total Operating Income		 45 68 71
Total Gross Profit		 85 119 160
Total Revenue		 85 119 160
Operating Revenue		 85 119 160
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 39 51 89
Selling, General & Admin Expense		 33 43 59
Amortization Expense		 2.18 3.03 3.71
Other Operating Expenses / (Income)		 4.35 4.75 26
Total Other Income / (Expense), net		 -22 -22 -17
Interest Expense		 22 23 18
Interest & Investment Income		 0.31 0.88 0.92
Income Tax Expense		 5.97 12 16
Preferred Stock Dividends Declared		 8.14 20 65
Basic Earnings per Share		 $0.10 $0.16 ($0.26)
Weighted Average Basic Shares Outstanding		 93.52M 93.35M 104.50M
Diluted Earnings per Share		 $0.10 $0.16 ($0.26)
Weighted Average Diluted Shares Outstanding		 93.52M 93.35M 104.50M
Weighted Average Basic & Diluted Shares Outstanding		 - - 138.15M

Quarterly Income Statements for Neptune Insurance

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

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 4.53 -46 7.35 16
Consolidated Net Income / (Loss)		 9.94 12 7.35 16
Net Income / (Loss) Continuing Operations		 9.94 12 7.35 16
Total Pre-Tax Income 		13 16 10 23
Total Operating Income		 16 21 13 27
Total Gross Profit		 29 42 38 56
Total Revenue		 29 42 38 56
Operating Revenue		 29 42 38 56
Total Cost of Revenue		 0.00 0.00 0.00 0.00
Total Operating Expenses		 14 21 24 29
Selling, General & Admin Expense		 11 18 15 20
Amortization Expense		 0.87 0.91 1.00 1.02
Other Operating Expenses / (Income)		 1.41 1.53 8.42 8.43
Total Other Income / (Expense), net		 -2.23 -5.62 -3.37 -3.36
Interest Expense		 2.40 5.87 3.53 3.63
Interest & Investment Income		 0.17 0.25 0.17 0.26
Income Tax Expense		 3.46 4.05 2.73 7.39
Preferred Stock Dividends Declared		 5.41 58 0.00 0.00
Basic Earnings per Share		 $0.05 ($0.49) $0.05 $0.11
Weighted Average Basic Shares Outstanding		 93.35M 93.35M 138.24M 137.80M
Diluted Earnings per Share		 $0.05 ($0.49) $0.05 $0.11
Weighted Average Diluted Shares Outstanding		 93.35M 93.35M 145.76M 146.19M
Weighted Average Basic & Diluted Shares Outstanding		 - - 138.33M 137.23M

Annual Cash Flow Statements for Neptune Insurance

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 4.75 3.75 12
Net Cash From Operating Activities		 19 50 52
Net Cash From Continuing Operating Activities		 19 50 52
Net Income / (Loss) Continuing Operations		 18 35 37
Consolidated Net Income / (Loss)		 18 35 37
Amortization Expense		 3.41 3.93 4.35
Non-Cash Adjustments To Reconcile Net Income		 0.62 4.47 11
Changes in Operating Assets and Liabilities, net		 -3.27 6.93 -1.30
Net Cash From Investing Activities		 -4.03 -3.71 -3.98
Net Cash From Continuing Investing Activities		 -4.03 -3.71 -3.98
Purchase of Property, Plant & Equipment		 -4.03 -3.71 -3.91
Acquisitions		 0.00 0.00 -0.06
Net Cash From Financing Activities		 -9.87 -42 -35
Net Cash From Continuing Financing Activities		 -9.87 -42 -35
Repayment of Debt		 -85 -219 -448
Repurchase of Common Equity		 -10 0.00 0.00
Payment of Dividends		 -339 0.00 -175
Issuance of Debt		 190 171 552
Issuance of Preferred Equity		 219 0.00 0.00
Issuance of Common Equity		 10 0.00 0.00
Other Financing Activities, net		 5.40 5.41 36
Cash Interest Paid		 20 17 17
Cash Income Taxes Paid		 8.60 7.31 20

Quarterly Cash Flow Statements for Neptune Insurance

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

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 25 5.76 20 17
Net Cash From Operating Activities		 14 8.65 17 27
Net Cash From Continuing Operating Activities		 14 8.65 17 27
Net Income / (Loss) Continuing Operations		 9.94 12 7.35 16
Consolidated Net Income / (Loss)		 9.94 12 7.35 16
Amortization Expense		 0.98 1.04 1.09 1.11
Non-Cash Adjustments To Reconcile Net Income		 1.53 0.40 7.10 9.25
Changes in Operating Assets and Liabilities, net		 1.86 -4.42 1.15 0.57
Net Cash From Investing Activities		 -0.91 -0.97 -1.10 -1.08
Net Cash From Continuing Investing Activities		 -0.91 -0.97 -1.10 -1.08
Purchase of Property, Plant & Equipment		 -0.91 -0.97 -1.10 -1.08
Net Cash From Financing Activities		 11 -1.92 4.25 -8.99
Net Cash From Continuing Financing Activities		 11 -1.92 4.25 -8.99
Repayment of Debt		 -4.00 -139 -14 -10
Other Financing Activities, net		 15 11 18 9.16

Annual Balance Sheets for Neptune Insurance

This table presents Neptune 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 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets		 48 65
Total Current Assets		 35 52
Cash & Equivalents		 7.09 8.04
Restricted Cash		 21 33
Prepaid Expenses		 0.45 1.31
Current Deferred & Refundable Income Taxes		 0.00 1.15
Other Current Assets		 6.71 9.46
Plant, Property, & Equipment, net		 0.00 0.00
Total Noncurrent Assets		 13 13
Goodwill		 3.79 3.79
Intangible Assets		 6.23 6.50
Noncurrent Deferred & Refundable Income Taxes		 2.80 0.80
Other Noncurrent Operating Assets		 0.10 1.75
Total Liabilities & Shareholders' Equity		 48 65
Total Liabilities		 174 293
Total Current Liabilities		 49 53
Accounts Payable		 7.17 10
Accrued Expenses		 3.00 4.77
Customer Deposits		 12 19
Current Deferred & Payable Income Tax Liabilities		 4.78 0.00
Other Current Liabilities		 13 19
Total Noncurrent Liabilities		 125 240
Long-Term Debt		 125 240
Total Equity & Noncontrolling Interests		 -366 -227
Total Preferred & Common Equity		 -366 -227
Total Common Equity		 -366 -227
Common Stock		 0.34 287
Retained Earnings		 -366 -514

Quarterly Balance Sheets for Neptune Insurance

This table presents Neptune 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 Q1 2026 Q2 2026
Period end date 3/31/2026 6/30/2026
Total Assets		 85 102
Total Current Assets		 72 89
Cash & Equivalents		 11 18
Restricted Cash		 50 59
Prepaid Expenses		 1.24 0.77
Current Deferred & Refundable Income Taxes		 0.00 0.58
Other Current Assets		 11 11
Plant, Property, & Equipment, net		 0.00 0.00
Total Noncurrent Assets		 13 13
Goodwill		 3.79 3.79
Intangible Assets		 6.59 6.65
Noncurrent Deferred & Refundable Income Taxes		 0.79 1.19
Other Noncurrent Operating Assets		 1.66 1.57
Total Liabilities & Shareholders' Equity		 85 102
Total Liabilities		 299 324
Total Current Liabilities		 72 84
Accounts Payable		 8.69 11
Accrued Expenses		 5.46 7.16
Customer Deposits		 32 36
Current Deferred & Payable Income Tax Liabilities		 1.55 0.08
Other Current Liabilities		 24 31
Total Noncurrent Liabilities		 227 240
Long-Term Debt		 227 240
Total Equity & Noncontrolling Interests		 -213 -222
Total Preferred & Common Equity		 -213 -222
Total Common Equity		 -213 -222
Common Stock		 294 269
Retained Earnings		 -507 -491

Annual Metrics And Ratios for Neptune Insurance

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - -
Revenue Growth		 0.00% 40.57% 33.74%
EBITDA Growth		 0.00% 48.19% 4.04%
EBIT Growth		 0.00% 50.66% 3.67%
NOPAT Growth		 0.00% 49.88% -3.05%
Net Income Growth		 0.00% 93.40% 8.16%
EPS Growth		 0.00% 60.00% -262.50%
Operating Cash Flow Growth		 0.00% 167.74% 3.49%
Free Cash Flow Firm Growth		 0.00% 0.00% -18.84%
Invested Capital Growth		 0.00% 0.00% -40.71%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00%
Profitability Metrics		 - - -
Gross Margin		 100.00% 100.00% 100.00%
EBITDA Margin		 57.55% 60.67% 47.19%
Operating Margin		 53.53% 57.37% 44.47%
EBIT Margin		 53.53% 57.37% 44.47%
Profit (Net Income) Margin		 21.07% 29.00% 23.45%
Tax Burden Percent		 74.97% 74.58% 69.75%
Interest Burden Percent		 52.51% 67.76% 75.59%
Effective Tax Rate		 25.03% 25.42% 30.25%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -27.56% -21.20%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 142.15% 125.08%
Return on Assets (ROA)		 0.00% 71.84% 65.95%
Return on Common Equity (ROCE)		 0.00% -80.36% -35.64%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 34 51 49
NOPAT Margin		 40.13% 42.79% 31.02%
Net Nonoperating Expense Percent (NNEP)		 0.00% 31.17% 7.92%
Return On Investment Capital (ROIC_SIMPLE)		 - -21.97% 395.77%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 38.78% 36.11% 37.03%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 46.47% 42.63% 55.53%
Earnings before Interest and Taxes (EBIT)		 45 68 71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 49 72 75
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00
Price to Revenue (P/Rev)		 4.34 3.09 19.10
Price to Earnings (P/E)		 37.78 25.03 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 2.65% 4.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 5.99 20.35
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 9.87 43.12
Enterprise Value to EBIT (EV/EBIT)		 0.00 10.44 45.76
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 14.00 65.60
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 14.31 62.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 10.07 56.36
Leverage & Solvency		 - - -
Debt to Equity		 0.00 -1.06 -1.06
Long-Term Debt to Equity		 0.00 -1.00 -1.06
Financial Leverage		 0.00 -0.84 -0.86
Leverage Ratio		 0.00 -0.38 -0.32
Compound Leverage Factor		 0.00 -0.26 -0.24
Debt to Total Capital		 0.00% 1,642.71% 1,919.08%
Short-Term Debt to Total Capital		 0.00% 105.09% 0.00%
Long-Term Debt to Total Capital		 0.00% 1,537.62% 1,919.08%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 2,955.67% 0.00%
Common Equity to Total Capital		 0.00% -4,498.38% -1,819.08%
Debt to EBITDA		 0.00 1.85 3.19
Net Debt to EBITDA		 0.00 1.46 2.65
Long-Term Debt to EBITDA		 0.00 1.73 3.19
Debt to NOPAT		 0.00 2.62 4.85
Net Debt to NOPAT		 0.00 2.07 4.03
Long-Term Debt to NOPAT		 0.00 2.45 4.85
Altman Z-Score		 0.00 -2.54 1.24
Noncontrolling Interest Sharing Ratio		 0.00% -191.59% -68.12%
Liquidity Ratios		 - - -
Current Ratio		 0.00 0.73 0.99
Quick Ratio		 0.00 0.15 0.15
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 71 58
Operating Cash Flow to CapEx		 462.70% 1,344.63% 1,320.13%
Free Cash Flow to Firm to Interest Expense		 0.00 3.09 3.16
Operating Cash Flow to Interest Expense		 0.85 2.18 2.83
Operating Cash Flow Less CapEx to Interest Expense		 0.67 2.01 2.62
Efficiency Ratios		 - - -
Asset Turnover		 0.00 2.48 2.81
Accounts Receivable Turnover		 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 0.00 -20 -28
Invested Capital Turnover		 0.00 -11.97 -6.65
Increase / (Decrease) in Invested Capital		 0.00 -20 -8.11
Enterprise Value (EV)		 0.00 714 3,247
Market Capitalization		 368 368 3,047
Book Value per Share		 $0.00 ($3.92) ($2.18)
Tangible Book Value per Share		 $0.00 ($4.03) ($2.28)
Total Capital		 0.00 8.14 13
Total Debt		 0.00 134 240
Total Long-Term Debt		 0.00 125 240
Net Debt		 0.00 106 199
Capital Expenditures (CapEx)		 4.03 3.71 3.91
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -33 -41
Debt-free Net Working Capital (DFNWC)		 0.00 -4.79 -0.33
Net Working Capital (NWC)		 0.00 -13 -0.33
Net Nonoperating Expense (NNE)		 16 16 12
Net Nonoperating Obligations (NNO)		 0.00 106 199
Total Depreciation and Amortization (D&A)		 3.41 3.93 4.35
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -27.54% -25.62%
Debt-free Net Working Capital to Revenue		 0.00% -4.02% -0.21%
Net Working Capital to Revenue		 0.00% -11.18% -0.21%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 104.50M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 104.50M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 138.15M
Normalized Net Operating Profit after Tax (NOPAT)		 34 51 49
Normalized NOPAT Margin		 40.13% 42.79% 31.02%
Pre Tax Income Margin		 28.11% 38.88% 33.62%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 2.08 2.98 3.89
NOPAT to Interest Expense		 1.56 2.22 2.71
EBIT Less CapEx to Interest Expense		 1.89 2.82 3.67
NOPAT Less CapEx to Interest Expense		 1.37 2.06 2.50
Payout Ratios		 - - -
Dividend Payout Ratio		 1,895.47% 0.00% 467.75%
Augmented Payout Ratio		 1,951.38% 0.00% 467.75%

Quarterly Metrics And Ratios for Neptune Insurance

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

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 0.00 0.00 138,153,530.00 138,330,913.00
DEI Adjusted Shares Outstanding		 0.00 0.00 138,153,530.00 138,330,913.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.05 0.11
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% 28.76% 32.82%
EBITDA Growth		 0.00% 0.00% -12.49% 23.86%
EBIT Growth		 0.00% 0.00% -13.99% 24.71%
NOPAT Growth		 0.00% 0.00% -15.45% 14.56%
Net Income Growth		 0.00% 0.00% -26.06% 35.94%
EPS Growth		 0.00% 0.00% 0.00% 122.45%
Operating Cash Flow Growth		 0.00% 0.00% 16.60% 208.86%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 0.00% 43.31% 0.00% 47.83%
EBITDA Q/Q Growth		 0.00% 34.44% 0.00% 90.28%
EBIT Q/Q Growth		 0.00% 36.24% 0.00% 97.54%
NOPAT Q/Q Growth		 0.00% 36.16% 0.00% 84.49%
Net Income Q/Q Growth		 0.00% 16.91% 0.00% 114.94%
EPS Q/Q Growth		 0.00% -1,080.00% 0.00% 120.00%
Operating Cash Flow Q/Q Growth		 0.00% -39.58% 0.00% 60.04%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 36.81%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -26.81%
Profitability Metrics		 - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 56.59% 53.08% 38.46% 49.50%
Operating Margin		 53.24% 50.61% 35.56% 47.52%
EBIT Margin		 53.24% 50.61% 35.56% 47.52%
Profit (Net Income) Margin		 33.86% 27.62% 19.44% 28.27%
Tax Burden Percent		 74.20% 74.16% 72.94% 68.12%
Interest Burden Percent		 85.72% 73.60% 74.96% 87.33%
Effective Tax Rate		 25.80% 25.84% 27.06% 31.88%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.00% -16.32% -17.55%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 70.04% 84.52%
Return on Assets (ROA)		 0.00% 0.00% 38.30% 50.28%
Return on Common Equity (ROCE)		 0.00% 0.00% -16.32% -17.55%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 12 16 9.80 18
NOPAT Margin		 39.50% 37.53% 25.94% 32.37%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 2.95% 2.81%
Return On Investment Capital (ROIC_SIMPLE)		 - - 71.87% 101.85%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 39.00% 43.59% 39.51% 35.57%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 46.76% 49.39% 64.44% 52.48%
Earnings before Interest and Taxes (EBIT)		 16 21 13 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 17 22 15 28
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 20.99 25.33
Price to Earnings (P/E)		 0.00 0.00 0.00 123.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.81%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 21.98 26.23
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 50.43 60.70
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 53.69 64.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 77.58 95.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 68.32 66.12
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.00 -1.06 -1.08
Long-Term Debt to Equity		 0.00 0.00 -1.06 -1.08
Financial Leverage		 0.00 0.00 -0.78 -0.73
Leverage Ratio		 0.00 0.00 -0.40 -0.46
Compound Leverage Factor		 0.00 0.00 -0.30 -0.40
Debt to Total Capital		 0.00% 0.00% 1,663.98% 1,351.43%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 1,663.98% 1,351.43%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 0.00% -1,563.98% -1,251.43%
Debt to EBITDA		 0.00 0.00 3.10 3.06
Net Debt to EBITDA		 0.00 0.00 2.28 2.07
Long-Term Debt to EBITDA		 0.00 0.00 3.10 3.06
Debt to NOPAT		 0.00 0.00 4.77 4.81
Net Debt to NOPAT		 0.00 0.00 3.50 3.26
Long-Term Debt to NOPAT		 0.00 0.00 4.77 4.81
Altman Z-Score		 0.00 0.00 1.26 4.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 0.00 1.01 1.05
Quick Ratio		 0.00 0.00 0.15 0.21
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 57 77
Operating Cash Flow to CapEx		 1,573.08% 887.99% 1,522.90% 2,484.93%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 16.02 21.34
Operating Cash Flow to Interest Expense		 5.96 1.47 4.73 7.37
Operating Cash Flow Less CapEx to Interest Expense		 5.58 1.31 4.42 7.07
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 1.97 1.78
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 0.00 -47 -59
Invested Capital Turnover		 0.00 0.00 -7.19 -6.13
Increase / (Decrease) in Invested Capital		 0.00 0.00 -47 -59
Enterprise Value (EV)		 0.00 0.00 3,692 4,768
Market Capitalization		 368 368 3,526 4,605
Book Value per Share		 $0.00 $0.00 ($1.54) ($1.61)
Tangible Book Value per Share		 $0.00 $0.00 ($1.62) ($1.68)
Total Capital		 0.00 0.00 14 18
Total Debt		 0.00 0.00 227 240
Total Long-Term Debt		 0.00 0.00 227 240
Net Debt		 0.00 0.00 167 163
Capital Expenditures (CapEx)		 0.91 0.97 1.10 1.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 -60 -72
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.81 4.56
Net Working Capital (NWC)		 0.00 0.00 0.81 4.56
Net Nonoperating Expense (NNE)		 1.66 4.17 2.46 2.29
Net Nonoperating Obligations (NNO)		 0.00 0.00 167 163
Total Depreciation and Amortization (D&A)		 0.98 1.04 1.09 1.11
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -35.47% -39.87%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.48% 2.51%
Net Working Capital to Revenue		 0.00% 0.00% 0.48% 2.51%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.05 $0.11
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 138.24M 137.80M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.05 $0.11
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 145.76M 146.19M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 138.33M 137.23M
Normalized Net Operating Profit after Tax (NOPAT)		 12 16 9.80 18
Normalized NOPAT Margin		 39.50% 37.53% 25.94% 32.37%
Pre Tax Income Margin		 45.63% 37.25% 26.66% 41.50%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 6.51 3.63 3.81 7.32
NOPAT to Interest Expense		 4.83 2.69 2.78 4.99
EBIT Less CapEx to Interest Expense		 6.13 3.46 3.50 7.03
NOPAT Less CapEx to Interest Expense		 4.45 2.52 2.47 4.69
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 81.72%

Financials Breakdown Chart

Key Financial Trends

Neptune Insurance (NYSE: NP) showed strong top-line growth in Q1 2026, but profitability remains pressured by high leverage and a negative equity position. Revenue and operating income improved year over year, while cash generation stayed solid. However, the balance sheet still reflects substantial debt and accumulated losses, which are important risks for investors to watch.

  • Revenue increased 29.0% year over year, rising to $37.8 million in Q1 2026 from $29.4 million in Q1 2025.
  • Operating income improved 14.4% to $13.4 million, indicating the business is still scaling with decent operating leverage.
  • Net income attributable to common shareholders improved to $7.3 million from $4.5 million, despite higher costs and lower preferred dividend expense this quarter.
  • Operating cash flow remained strong at $16.7 million, up from $14.3 million a year earlier.
  • Cash and equivalents rose sharply, with cash plus restricted cash totaling about $60.4 million at quarter-end, supported by a $19.8 million increase in cash during the quarter.
  • The company continued to generate cash after investing activities, with modest capital spending of $1.1 million in Q1 2026.
  • EPS was unchanged at $0.05 on both a basic and diluted basis, suggesting that earnings growth has not yet translated into meaningful per-share acceleration.
  • Weighted average basic shares increased significantly to 138.2 million from 93.4 million, which may continue to dilute future per-share results.
  • Goodwill and intangible assets total about $10.4 million, a manageable but still notable portion of noncurrent assets.
  • Interest expense remains a major burden, totaling $3.5 million in Q1 2026 versus $2.4 million a year earlier.
  • Long-term debt remains very high at $227.0 million, creating ongoing financial leverage risk.
  • Shareholders’ equity is still negative at $(213.4 million), driven by retained earnings of $(507.0 million), which reflects a deeply impaired balance sheet.
  • Total liabilities of $298.7 million exceed total assets of $85.3 million, underscoring balance sheet fragility despite recent operating improvement.

Bottom line: Neptune Insurance is posting respectable growth and positive cash flow, which is encouraging. But the company’s heavy debt load and negative equity mean the stock still carries elevated financial risk. For retail investors, the key question is whether earnings growth can continue fast enough to reduce leverage and strengthen the balance sheet over time.

08/07/26 04:02 PM ETAI Generated. May Contain Errors.

Neptune Insurance Financials - Frequently Asked Questions

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

Neptune Insurance's net income appears to be on an upward trend, with a most recent value of $37.41 million in 2025, rising from $17.89 million in 2023. The previous period was $34.59 million in 2024. View Neptune Insurance's forecast to see where analysts expect Neptune Insurance to go next.

Neptune Insurance's total operating income in 2025 was $70.96 million, based on the following breakdown:
  • Total Gross Profit: $159.55 million
  • Total Operating Expenses: $88.60 million

Over the last 2 years, Neptune Insurance's total revenue changed from $84.87 million in 2023 to $159.55 million in 2025, a change of 88.0%.

Neptune Insurance's total liabilities were at $292.79 million at the end of 2025, a 68.6% increase from 2024, and a 68.6% increase since 2024.

In the past 1 years, Neptune Insurance's cash and equivalents has ranged from $7.09 million in 2024 to $8.04 million in 2025, and is currently $8.04 million as of their latest financial filing in 2025.

Over the last 2 years, Neptune Insurance's book value per share changed from 0.00 in 2023 to -2.18 in 2025, a change of -217.7%.


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Financial statements for NYSE:NP last updated on 7/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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