Ategrity Specialty Holdings Financials
This page shows Ategrity Specialty Holdings (ASIC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
ASIC’s core engine throws off cash while a growing balance sheet absorbs it, pointing to low operating capital needs.
In both FY2024 and FY2025, operating cash flow exceeded net income by more than$70M , while FY2025 capital spending was only$6.5M . That combination suggests the business is light on maintenance investment; the much larger investing outflows reflect cash deployment choices on the balance sheet rather than heavy upkeep of the operating base.
Revenue increased
Year-end cash increased by only about
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Ategrity Specialty Holdings's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ategrity Specialty Holdings's revenue surged 23.4% year-over-year to $424.3M, reflecting rapid business expansion. This strong growth earns a score of 72/100.
Ategrity Specialty Holdings carries a low D/E ratio of 1.40, meaning only $1.40 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
Ategrity Specialty Holdings converts 33.2% of revenue into free cash flow ($140.7M). This strong cash generation earns a score of 100/100.
Ategrity Specialty Holdings's ROE of 12.0% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 11.8% the prior year.
Ategrity Specialty Holdings passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Ategrity Specialty Holdings generates $1.99 in operating cash flow ($147.2M OCF vs $74.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Ategrity Specialty Holdings generated $424.3M in revenue in fiscal year 2025. This represents an increase of 23.4% from the prior year.
Ategrity Specialty Holdings reported $74.0M in net income in fiscal year 2025. This represents an increase of 57.2% from the prior year.
Ategrity Specialty Holdings earned $1.58 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.4% from the prior year.
Cash & Balance Sheet
Ategrity Specialty Holdings generated $140.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 12.2% from the prior year.
Ategrity Specialty Holdings held $29.7M in cash against $0 in long-term debt as of fiscal year 2025.
Ategrity Specialty Holdings paid $0.00 per share in dividends in fiscal year 2025.
Ategrity Specialty Holdings had 48M shares outstanding in fiscal year 2025. This represents an increase of 25.2% from the prior year.
Margins & Returns
Ategrity Specialty Holdings's net profit margin was 17.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.
Ategrity Specialty Holdings's ROE was 12.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.
Capital Allocation
Ategrity Specialty Holdings spent $2.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Ategrity Specialty Holdings invested $6.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3842.7% from the prior year.
ASIC Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Revenue | N/A | $116.1M+14.1% | $101.8M | N/A | $88.7M+19.3% | $74.4M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | $392K-12.3% | $447K | N/A | $480K-11.8% | $544K |
| Income Tax | N/A | $6.1M+29.8% | $4.7M | N/A | $3.3M+177.2% | $1.2M |
| Net Income | N/A | $22.7M+28.6% | $17.6M | N/A | $12.9M+160.2% | $4.9M |
| EPS (Diluted) | N/A | $0.45+15.4% | $0.39 | N/A | $0.36+157.1% | $0.14 |
ASIC Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Total Assets | $1.5B+1.9% | $1.4B+6.1% | $1.4B+21.3% | $1.1B | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $29.7M-13.4% | $34.3M+45.9% | $23.5M-11.5% | $26.6M-78.6% | $124.2M+27.8% | $97.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $859.5M+0.4% | $856.4M+6.7% | $803.0M+10.8% | $724.6M | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $614.3M+4.4% | $588.6M+5.2% | $559.7M+40.5% | $398.3M+9.1% | $364.9M+7.7% | $338.8M |
| Retained Earnings | $108.6M+30.3% | $83.3M+37.4% | $60.7M+75.5% | $34.6M | N/A | N/A |
ASIC Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $55.3M+34.7% | $41.1M | N/A | $34.7M+32.4% | $26.2M | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$58.6M-97.8% | -$29.6M | N/A | -$132.3M-15960.2% | $834K | N/A |
| Financing Cash Flow | -$1.3M-104.2% | -$637K | N/A | $0 | $0 | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | N/A | $0 | $0 | N/A |
ASIC Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | 19.5%+2.2pp | 17.3% | N/A | 14.5%+7.8pp | 6.7% |
| Return on Equity | N/A | 3.9%+0.7pp | 3.1% | N/A | 3.5%+2.1pp | 1.5% |
| Return on Assets | N/A | 1.6%+0.3pp | 1.3% | N/A | N/A | N/A |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.40-0.1 | 1.46+0.0 | 1.43-0.4 | 1.82 | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Ategrity Specialty Holdings's annual revenue?
Ategrity Specialty Holdings (ASIC) reported $424.3M in total revenue for fiscal year 2025. This represents a 23.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ategrity Specialty Holdings's revenue growing?
Ategrity Specialty Holdings (ASIC) revenue grew by 23.4% year-over-year, from $343.8M to $424.3M in fiscal year 2025.
Is Ategrity Specialty Holdings profitable?
Yes, Ategrity Specialty Holdings (ASIC) reported a net income of $74.0M in fiscal year 2025, with a net profit margin of 17.4%.
What is Ategrity Specialty Holdings's net profit margin?
Ategrity Specialty Holdings (ASIC) had a net profit margin of 17.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ategrity Specialty Holdings's return on equity (ROE)?
Ategrity Specialty Holdings (ASIC) has a return on equity of 12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ategrity Specialty Holdings's free cash flow?
Ategrity Specialty Holdings (ASIC) generated $140.7M in free cash flow during fiscal year 2025. This represents a 12.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ategrity Specialty Holdings's operating cash flow?
Ategrity Specialty Holdings (ASIC) generated $147.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ategrity Specialty Holdings's total assets?
Ategrity Specialty Holdings (ASIC) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ategrity Specialty Holdings's capital expenditures?
Ategrity Specialty Holdings (ASIC) invested $6.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ategrity Specialty Holdings's debt-to-equity ratio?
Ategrity Specialty Holdings (ASIC) had a debt-to-equity ratio of 1.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ategrity Specialty Holdings's return on assets (ROA)?
Ategrity Specialty Holdings (ASIC) had a return on assets of 5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ategrity Specialty Holdings's Piotroski F-Score?
Ategrity Specialty Holdings (ASIC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ategrity Specialty Holdings's earnings high quality?
Ategrity Specialty Holdings (ASIC) has an earnings quality ratio of 1.99x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ategrity Specialty Holdings?
Ategrity Specialty Holdings (ASIC) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.