Donegal Group Financials
Donegal Group (DGICA) reported $978.0M in revenue for fiscal year 2025, down 1.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Earnings are recovering faster than revenue, and retained profits are rebuilding a liability-heavy balance sheet.
A 2.7x debt-to-equity ratio looks heavy, but interest expense was only$1.35M , so the liabilities are not behaving like a classic interest-bearing debt load. Over the last two reported years, equity rebuilding rose to$640.4M while liabilities edged down, which is why leverage improved even as assets continued to grow.
Revenue was nearly unchanged at
Operating cash flow reached
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Donegal Group'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.
Not available for Donegal Group, and counted as zero in the overall score.
Donegal Group passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Donegal Group generates $0.88 in operating cash flow ($70.2M OCF vs $79.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Donegal Group generated $978.0M in revenue in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Donegal Group reported $79.3M in net income in fiscal year 2025. This represents an increase of 56.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Donegal Group held $26.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Donegal Group's net profit margin was 8.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.
Donegal Group's ROE was 12.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
DGICA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $962.8M | $978.0M-1.2% | $989.6M+6.7% | $927.3M+9.3% | $848.2M+3.9% | $816.5M+5.0% | $777.8M-4.3% | $812.5M+5.3% | $771.8M+4.4% | $739.0M+7.4% | $688.4M+8.2% | $636.4M+8.5% | $586.5M+7.2% | $547.1M+6.2% | $515.0M+8.4% | $475.0M |
| Interest Expense | $1.4M | $1.4M+42.8% | $946K+52.6% | $620K-0.1% | $621K-30.7% | $896K-25.1% | $1.2M-24.2% | $1.6M-31.4% | $2.3M+44.5% | $1.6M-3.9% | $1.7M+49.1% | $1.1M-26.7% | $1.5M-7.2% | $1.6M-30.7% | $2.4M+10.9% | $2.1M |
| Income Tax | $16.6M | $18.3M+59.0% | $11.5M+1698.9% | $638K+138.0% | -$1.7M-133.0% | $5.1M-51.4% | $10.5M+5.3% | $9.9M+164.2% | -$15.5M-409.6% | $5.0M-52.5% | $10.5M+59.5% | $6.6M+278.6% | $1.7M-72.7% | $6.4M+34.0% | $4.8M+166.3% | -$7.2M |
| Net Income | $71.1M | $79.3M+56.0% | $50.9M+1049.3% | $4.4M+325.9% | -$2.0M-107.8% | $25.3M-52.2% | $52.8M+12.0% | $47.2M+243.9% | -$32.8M-560.4% | $7.1M-76.9% | $30.8M+46.7% | $21.0M+44.4% | $14.5M-44.8% | $26.3M+14.0% | $23.1M+4998.2% | $453K |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DGICA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B+2.2% | $2.3B+3.1% | $2.3B+1.0% | $2.2B-0.5% | $2.3B+4.4% | $2.2B+12.3% | $1.9B+5.0% | $1.8B+5.4% | $1.7B+7.1% | $1.6B+5.5% | $1.5B+5.4% | $1.5B+5.3% | $1.4B+3.6% | $1.3B+3.6% | $1.3B |
| Cash & Equivalents | $26.8M-49.4% | $52.9M+122.5% | $23.8M-5.3% | $25.1M-56.5% | $57.7M-44.0% | $103.1M+109.0% | $49.3M-6.2% | $52.6M+39.0% | $37.8M+53.9% | $24.6M-12.6% | $28.1M-20.9% | $35.6M+28.7% | $27.6M+39.6% | $19.8M+49.5% | $13.2M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $262K+45.0% | $181K | N/A | N/A | N/A | $1.2M | N/A | $1.5M |
| Goodwill | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M0.0% | $5.6M |
| Total Liabilities | $1.7B-2.5% | $1.8B+0.2% | $1.8B+1.5% | $1.8B+2.1% | $1.7B+5.0% | $1.6B+11.6% | $1.5B+2.7% | $1.4B+11.2% | $1.3B+8.8% | $1.2B+4.9% | $1.1B+8.3% | $1.0B+5.5% | $988.5M+5.5% | $936.9M+3.3% | $907.3M |
| Total Equity | $640.4M+17.3% | $545.8M+13.8% | $479.7M-0.8% | $483.6M-8.9% | $531.0M+2.6% | $517.8M+14.8% | $451.0M+13.1% | $398.9M-11.1% | $448.7M+2.3% | $438.6M+7.4% | $408.4M-1.9% | $416.1M+4.9% | $396.9M-0.8% | $400.0M+4.3% | $383.5M |
| Retained Earnings | $297.7M+21.5% | $245.1M+12.6% | $217.8M-9.5% | $240.6M-8.8% | $263.7M+2.1% | $258.4M+15.7% | $223.3M+15.8% | $192.8M-18.6% | $236.9M-3.3% | $244.9M+7.0% | $229.0M+2.6% | $223.3M+0.2% | $222.9M+6.3% | $209.7M+5.0% | $199.6M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Long-Term Debt.
DGICA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.4M | $70.2M+4.1% | $67.4M+135.6% | $28.6M-57.3% | $67.1M-12.5% | $76.7M-24.1% | $101.1M+32.4% | $76.4M+19.7% | $63.8M-21.3% | $81.0M+34.9% | $60.0M-12.0% | $68.2M+53.2% | $44.5M-3.2% | $46.0M+84.3% | $25.0M+18.4% | $21.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $152K-92.9% | $2.1M+69.5% | $1.3M+68.6% | $744K+211.9% | $239K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $68.0M+60.5% | $42.4M-5.3% | $44.8M+84.8% | $24.2M+16.2% | $20.8M |
| Investing Cash Flow | -$74.1M | -$91.1M-89.7% | -$48.0M-187.5% | -$16.7M+83.0% | -$98.5M-58.4% | -$62.2M+37.6% | -$99.7M-129.8% | -$43.4M-15.3% | -$37.6M+35.7% | -$58.4M-13.9% | -$51.3M | N/A | N/A | -$28.1M-490.0% | -$4.8M+84.7% | -$31.1M |
| Financing Cash Flow | -$18.0M | -$5.2M-153.5% | $9.7M+173.5% | -$13.2M-1006.1% | -$1.2M+98.0% | -$59.9M-214.5% | $52.3M+244.3% | -$36.3M-217.8% | -$11.4M-22.5% | -$9.3M+24.1% | -$12.3M | N/A | N/A | -$10.1M+26.0% | -$13.7M-296.9% | $6.9M |
| Dividends Paid | $26.8M | $25.7M+13.1% | $22.7M+3.7% | $21.9M+6.8% | $20.5M+7.3% | $19.1M+12.5% | $17.0M+5.5% | $16.1M+2.8% | $15.7M+5.6% | $14.8M+5.2% | $14.1M-2.6% | $14.5M+6.5% | $13.6M+6.0% | $12.8M+4.9% | $12.2M+2.8% | $11.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $28.1M+233765.6% | $12K-96.8% | $376K-80.5% | $1.9M+25.2% | $1.5M |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DGICA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 8.1%+3.0pp | 5.1%+4.7pp | 0.5%+0.7pp | -0.2%-3.3pp | 3.1%-3.7pp | 6.8%+1.0pp | 5.8%+10.0pp | -4.2%-5.2pp | 1.0%-3.5pp | 4.5%+1.2pp | 3.3%+0.8pp | 2.5%-2.3pp | 4.8%+0.3pp | 4.5%+4.4pp | 0.1% |
| Return on Equity | 12.4%+3.1pp | 9.3%+8.4pp | 0.9%+1.3pp | -0.4%-5.2pp | 4.8%-5.4pp | 10.2%-0.3pp | 10.4%+18.7pp | -8.2%-9.8pp | 1.6%-5.4pp | 7.0%+1.9pp | 5.1%+1.7pp | 3.5%-3.1pp | 6.6%+0.9pp | 5.8%+5.7pp | 0.1% |
| Return on Assets | 3.3%+1.1pp | 2.2%+2.0pp | 0.2%+0.3pp | -0.1%-1.2pp | 1.1%-1.3pp | 2.4%0.0pp | 2.5%+4.2pp | -1.8%-2.2pp | 0.4%-1.5pp | 1.9%+0.5pp | 1.4%+0.4pp | 1.0%-0.9pp | 1.9%+0.2pp | 1.7%+1.7pp | 0.0% |
| Debt-to-Equity | 2.73-0.6x | 3.28-0.4x | 3.72+0.1x | 3.64+0.4x | 3.25+0.1x | 3.17-0.1x | 3.26-0.3x | 3.59+0.7x | 2.87+0.2x | 2.70-0.1x | 2.77+0.3x | 2.510.0x | 2.49+0.1x | 2.340.0x | 2.37 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.7%+3.5pp | 7.2%-0.9pp | 8.2%+3.5pp | 4.7%+0.3pp | 4.4% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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Where Donegal Group Ranks
Frequently Asked Questions
What is Donegal Group's annual revenue?
Donegal Group (DGICA) reported $978.0M in total revenue for fiscal year 2025. This represents a -1.2% 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 Donegal Group's revenue growing?
Donegal Group (DGICA) revenue declined by 1.2% year-over-year, from $989.6M to $978.0M in fiscal year 2025.
Is Donegal Group profitable?
Yes, Donegal Group (DGICA) reported a net income of $79.3M in fiscal year 2025, with a net profit margin of 8.1%.
What is Donegal Group's net profit margin?
Donegal Group (DGICA) had a net profit margin of 8.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Donegal Group's return on equity (ROE)?
Donegal Group (DGICA) has a return on equity of 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Donegal Group's operating cash flow?
Donegal Group (DGICA) generated $70.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Donegal Group's total assets?
Donegal Group (DGICA) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Donegal Group's debt-to-equity ratio?
Donegal Group (DGICA) had a debt-to-equity ratio of 2.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Donegal Group's return on assets (ROA)?
Donegal Group (DGICA) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Donegal Group's Piotroski F-Score?
Donegal Group (DGICA) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Donegal Group's earnings high quality?
Donegal Group (DGICA) has an earnings quality ratio of 0.88x, considered mixed 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 Donegal Group?
Donegal Group (DGICA) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.