HAGERTY INC Financials

HGTY

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows HAGERTY INC (HGTY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).

Key Financial Metrics

Revenue

$1.2B

YoY+20.0%

HAGERTY INC generated $1.2B in revenue in fiscal year 2024. This represents an increase of 20.0% from the prior year.

EBITDA

$105.3M

YoY+87.4%

HAGERTY INC's EBITDA was $105.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 87.4% from the prior year.

Free Cash Flow

$155.7M

YoY+45.1%

HAGERTY INC generated $155.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 45.1% from the prior year.

Net Income

$78.3M

YoY+177.9%

HAGERTY INC reported $78.3M in net income in fiscal year 2024. This represents an increase of 177.9% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$104.8M

YoY-3.3%

HAGERTY INC held $104.8M in cash against $105.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

345M

YoY+1.5%

HAGERTY INC had 345M shares outstanding in fiscal year 2024. This represents an increase of 1.5% from the prior year.

Gross Margin

N/A

Operating Margin

5.5%

YoY+4.5pp

HAGERTY INC's operating margin was 5.5% in fiscal year 2024, reflecting core business profitability. This is up 4.5 percentage points from the prior year.

Net Margin

6.5%

YoY+3.7pp

HAGERTY INC's net profit margin was 6.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.

Return on Equity

52.1%

YoY+45.2pp

HAGERTY INC's ROE was 52.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 45.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$21.3M

YoY-19.2%

HAGERTY INC invested $21.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 19.2% from the prior year.

HGTY Income Statement

Metric	FY24	FY24	FY24	FY23	FY21
Revenue	$1.2B+20.0%	$1.0B+27.0%	$787.6M+27.2%	$619.1M+23.9%	$499.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$82.5M-3.4%	$85.4M-4.1%	$89.1M+38.0%	$64.6M+26.1%	$51.2M
Operating Income	$66.4M+538.1%	$10.4M+115.4%	-$67.6M-571.0%	-$10.1M-163.5%	$15.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	$15.4M-7.3%	$16.6M+136.5%	$7.0M+3.9%	$6.8M+40.1%	$4.8M
Net Income	$78.3M+177.9%	$28.2M+1072.7%	$2.4M+103.9%	-$61.4M-703.5%	$10.2M
EPS (Diluted)	N/A	N/A	N/A	$-0.56-100.6%	$101.66

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$380.0M+3.1%	$368.7M+15.4%	$319.6M+9.6%	$291.7M-9.8%	$323.4M+3.2%	$313.2M+15.3%	$271.7M+10.9%	$245.0M
Cost of Revenue	N/A	N/A	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	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$24.4M+8.3%	$22.6M+1.8%	$22.2M+8.6%	$20.4M-1.9%	$20.8M-2.5%	$21.4M+7.6%	$19.9M-3.4%	$20.6M
Operating Income	$34.3M-28.1%	$47.7M+85.4%	$25.7M+326.1%	$6.0M-40.2%	$10.1M-73.5%	$38.1M+211.4%	$12.2M+288.8%	-$6.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$32.8M-632.9%	$6.2M+12.2%	$5.5M+0.5%	$5.5M+634.3%	-$1.0M-117.6%	$5.8M+13.3%	$5.1M+11.7%	$4.6M
Net Income	$46.2M-2.2%	$47.2M+72.9%	$27.3M+223.4%	$8.4M-55.6%	$19.0M-55.4%	$42.7M+420.3%	$8.2M-9.3%	$9.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HGTY Balance Sheet

Metric	FY24	FY24	FY24	FY23	FY21
Total Assets	$1.7B+7.6%	$1.6B+21.0%	$1.3B+26.0%	$1.0B+70.6%	$610.7M
Current Assets	$858.4M-31.3%	$1.3B+33.5%	$936.8M+4.6%	$895.3M+74.4%	$513.4M
Cash & Equivalents	$104.8M-3.3%	$108.3M+13.8%	$95.2M-65.4%	$275.3M+622.5%	$38.1M
Inventory	$18.5M+266.9%	$5.0M+142.9%	$2.1M	N/A	N/A
Accounts Receivable	$84.8M+18.5%	$71.5M+22.8%	$58.3M+24.7%	$46.7M+37.9%	$33.9M
Goodwill	$114.1M-0.1%	$114.2M-0.7%	$115.0M+901.4%	$11.5M+142.1%	$4.7M
Total Liabilities	$1.6B+42.4%	$1.1B+15.8%	$945.1M-30.7%	$1.4B+176.5%	$493.4M
Current Liabilities	$915.4M+8.7%	$842.3M+26.2%	$667.4M+34.6%	$495.8M+28.9%	$384.8M
Long-Term Debt	$105.0M-19.7%	$130.7M+20.7%	$108.3M-20.1%	$135.5M+96.4%	$69.0M
Total Equity	$150.3M-63.4%	$410.5M+11.7%	$367.4M+213.9%	-$322.5M-374.9%	$117.3M
Retained Earnings	-$452.0M+3.6%	-$469.0M+4.2%	-$489.6M-1.5%	-$482.3M-948.6%	$56.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$2.2B+5.5%	$2.0B+12.4%	$1.8B+6.3%	$1.7B-6.0%	$1.8B+5.1%	$1.7B+10.2%	$1.6B-1.1%	$1.6B
Current Assets	$1.2B+0.1%	$1.2B+21.5%	$997.9M+16.3%	$858.4M-14.9%	$1.0B-0.4%	$1.0B-18.6%	$1.2B-0.4%	$1.3B
Cash & Equivalents	$160.4M+14.3%	$140.3M+9.9%	$127.7M+21.9%	$104.8M-28.8%	$147.1M+21.7%	$120.9M-7.8%	$131.2M+21.1%	$108.3M
Inventory	$14.2M-20.0%	$17.7M+22.8%	$14.4M-22.0%	$18.5M+106.6%	$8.9M-35.8%	$13.9M+234.9%	$4.2M-17.4%	$5.0M
Accounts Receivable	$107.5M-0.4%	$107.9M+10.6%	$97.6M+15.2%	$84.8M-9.3%	$93.5M+5.8%	$88.4M+22.9%	$71.9M+0.5%	$71.5M
Goodwill	$114.2M0.0%	$114.2M0.0%	$114.1M0.0%	$114.1M0.0%	$114.2M0.0%	$114.2M0.0%	$114.2M0.0%	$114.2M
Total Liabilities	$1.9B+40.6%	$1.4B+15.3%	$1.2B-23.2%	$1.6B+28.9%	$1.2B+1.3%	$1.2B+12.2%	$1.1B-2.8%	$1.1B
Current Liabilities	$1.2B+6.1%	$1.1B+16.1%	$987.1M+7.8%	$915.4M-8.5%	$1.0B+3.2%	$970.2M+14.3%	$849.2M+0.8%	$842.3M
Long-Term Debt	$104.4M-31.9%	$153.4M+15.7%	$132.6M+26.3%	$105.0M-14.6%	$122.9M+25.3%	$98.0M+7.2%	$91.5M-30.0%	$130.7M
Total Equity	$211.7M-63.4%	$578.0M+8.5%	$532.7M+254.3%	$150.3M-71.4%	$525.4M+15.6%	$454.4M+8.0%	$420.8M+2.5%	$410.5M
Retained Earnings	-$411.8M+4.8%	-$432.6M+2.5%	-$443.6M+1.9%	-$452.0M+0.7%	-$455.1M+1.1%	-$460.0M+2.2%	-$470.3M-0.3%	-$469.0M

HGTY Cash Flow Statement

Metric	FY24	FY24	FY24	FY23	FY21
Operating Cash Flow	$177.0M+32.4%	$133.7M+141.7%	$55.3M+30.9%	$42.3M-50.0%	$84.6M
Capital Expenditures	$21.3M-19.2%	$26.4M-40.5%	$44.4M+2.3%	$43.4M+13.4%	$38.3M
Free Cash Flow	$155.7M+45.1%	$107.3M+879.7%	$11.0M+1105.8%	-$1.1M-102.4%	$46.3M
Investing Cash Flow	-$618.6M-1074.9%	-$52.6M+42.5%	-$91.5M-32.7%	-$69.0M-45.6%	-$47.4M
Financing Cash Flow	-$46.9M-145.5%	$103.2M+467.3%	-$28.1M-108.5%	$332.1M+731.3%	$39.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	$43.8M	N/A	N/A	N/A	$58.2M	N/A
Capital Expenditures	N/A	N/A	$5.4M	N/A	N/A	N/A	$4.5M	N/A
Free Cash Flow	N/A	N/A	$38.4M	N/A	N/A	N/A	$53.7M	N/A
Investing Cash Flow	N/A	N/A	-$4.5M	N/A	N/A	N/A	-$18.3M	N/A
Financing Cash Flow	N/A	N/A	$14.2M	N/A	N/A	N/A	-$37.2M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HGTY Financial Ratios

Metric	FY24	FY24	FY24	FY23	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	5.5%+4.5pp	1.0%+9.6pp	-8.6%-7.0pp	-1.6%-4.8pp	3.2%
Net Margin	6.5%+3.7pp	2.8%+2.5pp	0.3%+10.2pp	-9.9%-11.9pp	2.0%
Return on Equity	52.1%+45.2pp	6.9%+6.2pp	0.7%	N/A	8.7%
Return on Assets	4.6%+2.8pp	1.8%+1.6pp	0.2%+6.1pp	-5.9%-7.5pp	1.7%
Current Ratio	0.94-0.5	1.48+0.1	1.40-0.4	1.81+0.5	1.33
Debt-to-Equity	0.70+0.4	0.32+0.0	0.29+0.7	-0.42-1.0	0.59
FCF Margin	13.0%+2.2pp	10.7%+9.3pp	1.4%+1.6pp	-0.2%-9.4pp	9.3%

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	9.0%-3.9pp	12.9%+4.9pp	8.1%+6.0pp	2.1%-1.0pp	3.1%-9.0pp	12.2%+7.6pp	4.5%+7.1pp	-2.6%
Net Margin	12.2%-0.7pp	12.8%+4.3pp	8.5%+5.7pp	2.9%-3.0pp	5.9%-7.7pp	13.6%+10.6pp	3.0%-0.7pp	3.7%
Return on Equity	21.8%+13.6pp	8.2%+3.0pp	5.1%-0.5pp	5.6%+2.0pp	3.6%-5.8pp	9.4%+7.4pp	1.9%-0.2pp	2.2%
Return on Assets	2.1%-0.2pp	2.3%+0.8pp	1.5%+1.0pp	0.5%-0.6pp	1.1%-1.4pp	2.5%+1.9pp	0.5%-0.1pp	0.6%
Current Ratio	1.00-0.1	1.06+0.0	1.01+0.1	0.94-0.1	1.01-0.0	1.04-0.4	1.47-0.0	1.48
Debt-to-Equity	0.49+0.2	0.27+0.0	0.25-0.4	0.70+0.5	0.23+0.0	0.220.0	0.22-0.1	0.32
FCF Margin	N/A	N/A	12.0%	N/A	N/A	N/A	19.8%	N/A

Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Financial Health Signals

Financial Profile 63/100

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

100

Based on FY2024 annual data. Scores normalized against common benchmarks.

Altman Z-Score Distress

0.89

Bankruptcy risk indicator. Above 2.99 = safe, below 1.81 = distress.

Piotroski F-Score Neutral

6/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

2.26x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

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Frequently Asked Questions

What is HAGERTY INC's annual revenue?

HAGERTY INC (HGTY) reported $1.2B in total revenue for fiscal year 2024. This represents a 20.0% 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 HAGERTY INC's revenue growing?

HAGERTY INC (HGTY) revenue grew by 20% year-over-year, from $1.0B to $1.2B in fiscal year 2024.

Is HAGERTY INC profitable?

Yes, HAGERTY INC (HGTY) reported a net income of $78.3M in fiscal year 2024, with a net profit margin of 6.5%.

What is HAGERTY INC's EBITDA?

HAGERTY INC (HGTY) had EBITDA of $105.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does HAGERTY INC have?

As of fiscal year 2024, HAGERTY INC (HGTY) had $104.8M in cash and equivalents against $105.0M in long-term debt.

What is HAGERTY INC's operating margin?

HAGERTY INC (HGTY) had an operating margin of 5.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is HAGERTY INC's net profit margin?

HAGERTY INC (HGTY) had a net profit margin of 6.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is HAGERTY INC's return on equity (ROE)?

HAGERTY INC (HGTY) has a return on equity of 52.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is HAGERTY INC's free cash flow?

HAGERTY INC (HGTY) generated $155.7M in free cash flow during fiscal year 2024. This represents a 45.1% 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 HAGERTY INC's operating cash flow?

HAGERTY INC (HGTY) generated $177.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are HAGERTY INC's total assets?

HAGERTY INC (HGTY) had $1.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are HAGERTY INC's capital expenditures?

HAGERTY INC (HGTY) invested $21.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does HAGERTY INC have outstanding?

HAGERTY INC (HGTY) had 345M shares outstanding as of fiscal year 2024.

What is HAGERTY INC's current ratio?

HAGERTY INC (HGTY) had a current ratio of 0.94 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is HAGERTY INC's debt-to-equity ratio?

HAGERTY INC (HGTY) had a debt-to-equity ratio of 0.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is HAGERTY INC's return on assets (ROA)?

HAGERTY INC (HGTY) had a return on assets of 4.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is HAGERTY INC's Altman Z-Score?

HAGERTY INC (HGTY) has an Altman Z-Score of 0.89, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress.

What is HAGERTY INC's Piotroski F-Score?

HAGERTY INC (HGTY) has a Piotroski F-Score of 6 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 7–9 indicate strong and improving fundamentals.

Are HAGERTY INC's earnings high quality?

HAGERTY INC (HGTY) has an earnings quality ratio of 2.26x, 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.

How financially healthy is HAGERTY INC?

HAGERTY INC (HGTY) scores 63 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.