Heritage Insurance Hldgs Inc Financials
This page shows Heritage Insurance Hldgs Inc (HRTG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
A multi-year earnings reset turned modest revenue growth into surging cash generation and a much less leveraged balance sheet in three years.
From FY2022 to FY2025, revenue increased only27.9% , which is too small by itself to explain how the business model changed. The real shift is margin shape: operating margin swung from-23.8% to31.5% , showing the recovery came from a much better cost outcome rather than volume alone. That is reinforced by cash conversion, with operating cash flow moving from-$34.3M to$182.2M over the same span.
FY2025 ended with cash far exceeding long-term debt, at
Free cash flow tracked operating cash flow closely in FY2025, at
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 Heritage Insurance Hldgs Inc'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.
Heritage Insurance Hldgs Inc has an operating margin of 31.5%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 11.5% the prior year.
Heritage Insurance Hldgs Inc's revenue grew a modest 3.7% year-over-year to $847.3M. This slow but positive growth earns a score of 46/100.
Heritage Insurance Hldgs Inc carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Heritage Insurance Hldgs Inc has a free cash flow margin of 20.5%, earning a moderate score of 62/100. The company generates positive cash flow after capital investments, but with room for improvement.
Heritage Insurance Hldgs Inc earns a strong 38.7% return on equity (ROE), meaning it generates $39 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is up from 21.2% the prior year.
Heritage Insurance Hldgs Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Heritage Insurance Hldgs Inc generates $0.93 in operating cash flow ($182.2M OCF vs $195.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Heritage Insurance Hldgs Inc earns $33.9 in operating income for every $1 of interest expense ($267.2M vs $7.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Heritage Insurance Hldgs Inc generated $847.3M in revenue in fiscal year 2025. This represents an increase of 3.7% from the prior year.
Heritage Insurance Hldgs Inc's EBITDA was $273.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 182.1% from the prior year.
Heritage Insurance Hldgs Inc reported $195.6M in net income in fiscal year 2025. This represents an increase of 217.8% from the prior year.
Heritage Insurance Hldgs Inc earned $6.32 per diluted share (EPS) in fiscal year 2025. This represents an increase of 214.4% from the prior year.
Cash & Balance Sheet
Heritage Insurance Hldgs Inc generated $174.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 120.8% from the prior year.
Heritage Insurance Hldgs Inc held $559.3M in cash against $78.4M in long-term debt as of fiscal year 2025.
Heritage Insurance Hldgs Inc had 31M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Heritage Insurance Hldgs Inc's operating margin was 31.5% in fiscal year 2025, reflecting core business profitability. This is up 20.1 percentage points from the prior year.
Heritage Insurance Hldgs Inc's net profit margin was 23.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.6 percentage points from the prior year.
Heritage Insurance Hldgs Inc's ROE was 38.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 17.5 percentage points from the prior year.
Capital Allocation
Heritage Insurance Hldgs Inc spent $2.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Heritage Insurance Hldgs Inc invested $8.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.9% from the prior year.
HRTG Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $212.7M-1.2% | $215.3M+1.3% | $212.5M+2.1% | $208.0M-1.6% | $211.5M+0.6% | $210.3M-0.7% | $211.8M+4.1% | $203.6M |
| 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 | $24.9M | N/A | $22.3M-8.4% | $24.4M+2.3% | $23.9M | N/A | $21.6M-5.3% | $22.8M |
| Operating Income | $50.8M-43.3% | $89.7M+27.8% | $70.2M+8.2% | $64.9M+52.9% | $42.4M+34.6% | $31.5M+168.3% | $11.7M-57.5% | $27.6M |
| Interest Expense | $1.8M | N/A | $1.9M-1.6% | $1.9M-22.5% | $2.4M | N/A | $2.8M-0.9% | $2.8M |
| Income Tax | $12.6M | N/A | $17.9M+19.6% | $15.0M+56.9% | $9.5M | N/A | $842K-85.9% | $6.0M |
| Net Income | $36.5M-45.3% | $66.7M+32.2% | $50.4M+5.0% | $48.0M+57.6% | $30.5M+50.2% | $20.3M+148.9% | $8.2M-56.8% | $18.9M |
| EPS (Diluted) | $1.19-44.7% | $2.15+31.9% | $1.63+5.2% | $1.55+56.6% | $0.99+50.0% | $0.66+144.4% | $0.27-55.7% | $0.61 |
HRTG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B-8.0% | $2.2B-7.2% | $2.4B-6.7% | $2.5B+14.6% | $2.2B-10.4% | $2.5B+4.0% | $2.4B-8.7% | $2.6B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $517.1M-7.5% | $559.3M-0.2% | $560.4M+18.4% | $473.5M+11.2% | $425.9M-5.9% | $452.7M-11.2% | $509.9M+6.0% | $480.9M |
| Inventory | N/A | N/A | 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 | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.5B-11.2% | $1.7B-12.4% | $1.9B-10.4% | $2.2B+14.3% | $1.9B-13.5% | $2.2B+4.0% | $2.1B-10.6% | $2.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $77.6M-1.0% | $78.4M-1.0% | $79.3M-14.2% | $92.4M-2.6% | $94.8M-18.5% | $116.3M-1.9% | $118.6M-1.8% | $120.8M |
| Total Equity | $520.4M+3.0% | $505.3M+15.6% | $437.3M+14.1% | $383.3M+16.5% | $329.0M+13.1% | $290.8M+4.1% | $279.3M+9.4% | $255.3M |
| Retained Earnings | $319.7M+12.9% | $283.3M+30.8% | $216.6M+30.3% | $166.2M+40.7% | $118.1M+34.8% | $87.7M+30.1% | $67.4M+13.8% | $59.2M |
HRTG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.9M+80.1% | $13.8M-88.9% | $124.3M+187.1% | $43.3M+5072.3% | $837K+101.5% | -$56.1M-319.6% | -$13.4M-108.8% | $152.2M |
| Capital Expenditures | $1.8M-36.5% | $2.9M+80.7% | $1.6M+3.1% | $1.5M-26.8% | $2.1M-18.2% | $2.6M-13.8% | $3.0M+20.8% | $2.5M |
| Free Cash Flow | $23.0M+110.6% | $10.9M-91.1% | $122.7M+193.9% | $41.8M+3416.7% | -$1.3M+97.9% | -$58.6M-258.9% | -$16.3M-110.9% | $149.8M |
| Investing Cash Flow | -$44.3M-283.0% | -$11.6M+52.5% | -$24.4M-462.2% | $6.7M+293.9% | -$3.5M-254.7% | $2.2M-95.0% | $44.8M+181.0% | -$55.4M |
| Financing Cash Flow | -$19.9M-487.0% | -$3.4M+74.3% | -$13.1M-437.4% | -$2.4M+88.7% | -$21.7M-533.4% | -$3.4M-39.9% | -$2.4M0.0% | -$2.4M |
| Dividends Paid | $0 | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Share Buybacks | $10.0M | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
HRTG Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 23.9%-17.8pp | 41.6%+8.6pp | 33.0%+1.8pp | 31.2%+11.1pp | 20.1%+5.1pp | 15.0%+9.4pp | 5.5%-8.0pp | 13.6% |
| Net Margin | 17.2%-13.8pp | 31.0%+7.2pp | 23.7%+0.7pp | 23.1%+8.7pp | 14.4%+4.8pp | 9.7%+5.8pp | 3.9%-5.4pp | 9.3% |
| Return on Equity | 7.0%-6.2pp | 13.2%+1.7pp | 11.5%-1.0pp | 12.5%+3.3pp | 9.3%+2.3pp | 7.0%+4.1pp | 2.9%-4.5pp | 7.4% |
| Return on Assets | 1.8%-1.2pp | 3.0%+0.9pp | 2.1%+0.2pp | 1.9%+0.5pp | 1.4%+0.6pp | 0.8%+0.5pp | 0.3%-0.4pp | 0.7% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.150.0 | 0.16-0.0 | 0.18-0.1 | 0.24-0.0 | 0.29-0.1 | 0.40-0.0 | 0.42-0.0 | 0.47 |
| FCF Margin | 10.8%+5.8pp | 5.1%-52.7pp | 57.8%+37.7pp | 20.1%+20.7pp | -0.6%+27.3pp | -27.9%-20.2pp | -7.7%-81.3pp | 73.6% |
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Frequently Asked Questions
What is Heritage Insurance Hldgs Inc's annual revenue?
Heritage Insurance Hldgs Inc (HRTG) reported $847.3M in total revenue for fiscal year 2025. This represents a 3.7% 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 Heritage Insurance Hldgs Inc's revenue growing?
Heritage Insurance Hldgs Inc (HRTG) revenue grew by 3.7% year-over-year, from $817.0M to $847.3M in fiscal year 2025.
Is Heritage Insurance Hldgs Inc profitable?
Yes, Heritage Insurance Hldgs Inc (HRTG) reported a net income of $195.6M in fiscal year 2025, with a net profit margin of 23.1%.
What is Heritage Insurance Hldgs Inc's EBITDA?
Heritage Insurance Hldgs Inc (HRTG) had EBITDA of $273.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Heritage Insurance Hldgs Inc have?
As of fiscal year 2025, Heritage Insurance Hldgs Inc (HRTG) had $559.3M in cash and equivalents against $78.4M in long-term debt.
What is Heritage Insurance Hldgs Inc's operating margin?
Heritage Insurance Hldgs Inc (HRTG) had an operating margin of 31.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Heritage Insurance Hldgs Inc's net profit margin?
Heritage Insurance Hldgs Inc (HRTG) had a net profit margin of 23.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Heritage Insurance Hldgs Inc's return on equity (ROE)?
Heritage Insurance Hldgs Inc (HRTG) has a return on equity of 38.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Heritage Insurance Hldgs Inc's free cash flow?
Heritage Insurance Hldgs Inc (HRTG) generated $174.2M in free cash flow during fiscal year 2025. This represents a 120.8% 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 Heritage Insurance Hldgs Inc's operating cash flow?
Heritage Insurance Hldgs Inc (HRTG) generated $182.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Heritage Insurance Hldgs Inc's total assets?
Heritage Insurance Hldgs Inc (HRTG) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Heritage Insurance Hldgs Inc's capital expenditures?
Heritage Insurance Hldgs Inc (HRTG) invested $8.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Heritage Insurance Hldgs Inc's debt-to-equity ratio?
Heritage Insurance Hldgs Inc (HRTG) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Heritage Insurance Hldgs Inc's return on assets (ROA)?
Heritage Insurance Hldgs Inc (HRTG) had a return on assets of 8.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Heritage Insurance Hldgs Inc's Piotroski F-Score?
Heritage Insurance Hldgs Inc (HRTG) has a Piotroski F-Score of 5 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 Heritage Insurance Hldgs Inc's earnings high quality?
Heritage Insurance Hldgs Inc (HRTG) has an earnings quality ratio of 0.93x, 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.
Can Heritage Insurance Hldgs Inc cover its interest payments?
Heritage Insurance Hldgs Inc (HRTG) has an interest coverage ratio of 33.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Heritage Insurance Hldgs Inc?
Heritage Insurance Hldgs Inc (HRTG) scores 59 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.