Palomar Holdings Financials

PLMR

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

Financial Health Signals

Financial Profile 74/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

Palomar Holdings's revenue surged 47.3% year-over-year to $553.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Palomar Holdings has a moderate D/E ratio of 2.10. This balance of debt and equity financing earns a leverage score of 33/100.

Cash Flow

100

Palomar Holdings converts 47.1% of revenue into free cash flow ($260.9M). This strong cash generation earns a score of 100/100.

Returns

Palomar Holdings earns a strong 16.1% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 65/100. This is down from 16.8% the prior year.

Piotroski F-Score Neutral

5/9

Palomar Holdings passes 5 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), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.22x

For every $1 of reported earnings, Palomar Holdings generates $2.22 in operating cash flow ($261.2M OCF vs $117.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Palomar Holdings (PLMR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

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Key Financial Metrics

Revenue

$553.9M

YoY+47.3%

5Y CAGR+37.4%

Palomar Holdings generated $553.9M in revenue in fiscal year 2024. This represents an increase of 47.3% from the prior year.

EBITDA

N/A

Free Cash Flow

$260.9M

YoY+124.7%

5Y CAGR+42.5%

Palomar Holdings generated $260.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 124.7% from the prior year.

Net Income

$117.6M

YoY+48.4%

5Y CAGR+61.7%

Palomar Holdings reported $117.6M in net income in fiscal year 2024. This represents an increase of 48.4% from the prior year.

EPS (Diluted)

$4.48

YoY+43.1%

5Y CAGR+55.7%

Palomar Holdings earned $4.48 per diluted share (EPS) in fiscal year 2024. This represents an increase of 43.1% from the prior year.

Cash & Debt

$80.4M

YoY+56.1%

5Y CAGR+19.4%

Palomar Holdings held $80.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

27M

YoY+7.1%

5Y CAGR+2.5%

Palomar Holdings had 27M shares outstanding in fiscal year 2024. This represents an increase of 7.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

21.2%

YoY+0.2pp

5Y CAGR+11.9pp

Palomar Holdings's net profit margin was 21.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.2 percentage points from the prior year.

Return on Equity

16.1%

YoY-0.7pp

5Y CAGR+11.3pp

Palomar Holdings's ROE was 16.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.7 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Palomar Holdings spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$243K

YoY+1520.0%

5Y CAGR+16.1%

Palomar Holdings invested $243K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1520.0% from the prior year.

PLMR Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$553.9M+47.3%	$375.9M+14.9%	$327.1M+32.0%	$247.8M+47.1%	$168.5M+48.7%	$113.3M
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	$1.1M-69.9%	$3.8M+332.4%	$873K+2082.5%	$40K	N/A	$1.1M
Income Tax	$33.6M+37.6%	$24.4M+58.9%	$15.4M+36.2%	$11.3M+33308.8%	-$34K-100.5%	$7.5M
Net Income	$117.6M+48.4%	$79.2M+51.8%	$52.2M+13.8%	$45.8M+632.7%	$6.3M-41.1%	$10.6M
EPS (Diluted)	$4.48+43.1%	$3.13+55.0%	$2.02+14.8%	$1.76+633.3%	$0.24-51.0%	$0.49

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$244.7M+20.3%	$203.3M+16.4%	$174.6M+12.1%	$155.8M+18.8%	$131.1M+10.6%	$118.5M+12.5%	$105.4M+15.9%	$90.9M
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	N/A	N/A	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	N/A	N/A
Interest Expense	$133K+54.7%	$86K+1.2%	$85K-1.2%	$86K-61.8%	$225K-69.6%	$740K-10.2%	$824K-5.0%	$867K
Income Tax	$15.7M+17.5%	$13.4M+23.7%	$10.8M+7.9%	$10.0M+30.8%	$7.6M-4.1%	$8.0M+5.4%	$7.6M+23.9%	$6.1M
Net Income	$51.5M+10.6%	$46.5M+8.4%	$42.9M+22.8%	$35.0M+35.9%	$25.7M-2.5%	$26.4M+1.9%	$25.9M+40.5%	$18.4M
EPS (Diluted)	$1.87+11.3%	$1.68+7.0%	$1.57+21.7%	$1.29+29.0%	$1.00-3.8%	$1.04+1.0%	$1.03+41.1%	$0.73

PLMR Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.3B+32.4%	$1.7B+30.7%	$1.3B+41.1%	$925.7M+27.0%	$729.1M+84.4%	$395.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$80.4M+56.1%	$51.5M-24.3%	$68.1M+35.4%	$50.3M+49.9%	$33.5M+1.3%	$33.1M
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	$3.8M0.0%	$3.8M	$0	N/A	N/A	N/A
Total Liabilities	$1.5B+24.0%	$1.2B+34.2%	$921.7M+73.4%	$531.6M+45.5%	$365.4M+106.5%	$176.9M
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	$729.0M+54.7%	$471.3M+22.5%	$384.8M-2.4%	$394.2M+8.4%	$363.7M+66.4%	$218.6M
Retained Earnings	$262.2M+81.3%	$144.6M+64.9%	$87.7M+25.4%	$70.0M+75.1%	$40.0M+18.0%	$33.9M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.9B+3.9%	$2.8B+16.7%	$2.4B+7.3%	$2.3B+12.2%	$2.0B+7.0%	$1.9B+10.3%	$1.7B+5.0%	$1.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$111.7M+37.4%	$81.3M-31.9%	$119.3M+48.3%	$80.4M+68.1%	$47.8M-22.1%	$61.4M+19.1%	$51.5M-2.8%	$53.0M
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	$3.8M	N/A	N/A	$3.8M	N/A
Total Liabilities	$2.1B+4.0%	$2.0B+21.3%	$1.6B+6.7%	$1.5B+3.4%	$1.5B+7.3%	$1.4B+11.8%	$1.2B+2.6%	$1.2B
Current Liabilities	N/A	N/A	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	N/A	N/A
Total Equity	$878.1M+3.6%	$847.2M+7.2%	$790.4M+8.4%	$729.0M+36.9%	$532.6M+6.2%	$501.7M+6.5%	$471.3M+11.8%	$421.3M
Retained Earnings	$365.8M+4.0%	$351.7M+15.2%	$305.1M+16.4%	$262.2M+33.3%	$196.8M+15.0%	$171.0M+18.2%	$144.6M+21.7%	$118.9M

PLMR Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$261.2M+124.9%	$116.1M-31.5%	$169.6M+93.1%	$87.8M+52.7%	$57.5M+29.2%	$44.5M
Capital Expenditures	$243K+1520.0%	$15K-95.2%	$313K+1638.9%	$18K-86.4%	$132K+14.8%	$115K
Free Cash Flow	$260.9M+124.7%	$116.1M-31.4%	$169.3M+92.8%	$87.8M+53.1%	$57.4M+29.2%	$44.4M
Investing Cash Flow	-$306.2M-138.4%	-$128.5M+18.1%	-$156.8M-169.5%	-$58.2M+68.6%	-$185.4M-122.3%	-$83.4M
Financing Cash Flow	$73.8M+1972.4%	-$3.9M-178.5%	$5.0M+138.5%	-$13.0M-110.2%	$128.3M+106.0%	$62.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$22.3M-35.3%	$34.4M+117.1%	$15.9M	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$83.6M-30.8%	$120.9M+38.6%	$87.2M+20.0%	$72.6M+31.8%	$55.1M+66.4%	$33.1M+48.7%	$22.3M-68.5%	$70.6M
Capital Expenditures	$51K+75.9%	$29K-17.1%	$35K-28.6%	$49K	$0	$0	$0+100.0%	-$4K
Free Cash Flow	$83.6M-30.8%	$120.8M+38.7%	$87.1M+20.1%	$72.6M+31.7%	$55.1M+66.4%	$33.1M+48.7%	$22.3M-68.5%	$70.6M
Investing Cash Flow	-$17.7M+89.0%	-$160.8M-209.5%	-$51.9M+36.2%	-$81.4M-183.8%	-$28.7M-75.6%	-$16.3M+32.9%	-$24.3M+52.5%	-$51.2M
Financing Cash Flow	-$35.5M-2002.5%	$1.9M-47.5%	$3.5M+32.5%	$2.7M+106.7%	-$40.2M-484.1%	-$6.9M-1217.2%	$616K+102.5%	-$24.7M
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	$0	$0	$0-100.0%	$132K-98.0%	$6.6M

PLMR Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
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	21.2%+0.2pp	21.1%+5.1pp	16.0%-2.5pp	18.5%+14.8pp	3.7%-5.7pp	9.4%
Return on Equity	16.1%-0.7pp	16.8%+3.3pp	13.6%+1.9pp	11.6%+9.9pp	1.7%-3.1pp	4.9%
Return on Assets	5.2%+0.6pp	4.6%+0.6pp	4.0%-1.0pp	5.0%+4.1pp	0.9%-1.8pp	2.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.10-0.5	2.62+0.2	2.40+1.0	1.35+0.3	1.00+0.2	0.81
FCF Margin	47.1%+16.2pp	30.9%-20.9pp	51.7%+16.3pp	35.4%+1.4pp	34.1%-5.1pp	39.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	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	N/A	N/A
Net Margin	21.0%-1.9pp	22.9%-1.7pp	24.6%+2.1pp	22.4%+2.8pp	19.6%-2.6pp	22.3%-2.3pp	24.6%+4.3pp	20.3%
Return on Equity	5.9%+0.4pp	5.5%+0.1pp	5.4%+0.6pp	4.8%-0.0pp	4.8%-0.4pp	5.3%-0.2pp	5.5%+1.1pp	4.4%
Return on Assets	1.8%+0.1pp	1.6%-0.1pp	1.8%+0.2pp	1.6%+0.3pp	1.3%-0.1pp	1.4%-0.1pp	1.5%+0.4pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.350.0	2.34+0.3	2.07-0.0	2.10-0.7	2.79+0.0	2.76+0.1	2.62-0.2	2.86
FCF Margin	34.2%-25.3pp	59.4%+9.5pp	49.9%+3.3pp	46.6%+4.5pp	42.1%+14.1pp	28.0%+6.8pp	21.1%-56.5pp	77.7%

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Frequently Asked Questions

What is Palomar Holdings's annual revenue?

Palomar Holdings (PLMR) reported $553.9M in total revenue for fiscal year 2024. This represents a 47.3% 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 Palomar Holdings's revenue growing?

Palomar Holdings (PLMR) revenue grew by 47.3% year-over-year, from $375.9M to $553.9M in fiscal year 2024.

Is Palomar Holdings profitable?

Yes, Palomar Holdings (PLMR) reported a net income of $117.6M in fiscal year 2024, with a net profit margin of 21.2%.

What is Palomar Holdings's earnings per share (EPS)?

Palomar Holdings (PLMR) reported diluted earnings per share of $4.48 for fiscal year 2024. This represents a 43.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Palomar Holdings's net profit margin?

Palomar Holdings (PLMR) had a net profit margin of 21.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Palomar Holdings's return on equity (ROE)?

Palomar Holdings (PLMR) has a return on equity of 16.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Palomar Holdings's free cash flow?

Palomar Holdings (PLMR) generated $260.9M in free cash flow during fiscal year 2024. This represents a 124.7% 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 Palomar Holdings's operating cash flow?

Palomar Holdings (PLMR) generated $261.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Palomar Holdings's total assets?

Palomar Holdings (PLMR) had $2.3B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Palomar Holdings's capital expenditures?

Palomar Holdings (PLMR) invested $243K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Palomar Holdings have outstanding?

Palomar Holdings (PLMR) had 27M shares outstanding as of fiscal year 2024.

What is Palomar Holdings's debt-to-equity ratio?

Palomar Holdings (PLMR) had a debt-to-equity ratio of 2.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Palomar Holdings's return on assets (ROA)?

Palomar Holdings (PLMR) had a return on assets of 5.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Palomar Holdings's Piotroski F-Score?

Palomar Holdings (PLMR) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Palomar Holdings's earnings high quality?

Palomar Holdings (PLMR) has an earnings quality ratio of 2.22x, 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 Palomar Holdings?

Palomar Holdings (PLMR) scores 74 out of 100 on our Financial Profile, indicating strong 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.