Heritage Insurance Holdings, Inc. HRTG
Heritage Insurance Holdings, Inc. ("we", "our", "us", "Heritage" and the "Company") is a super-regional property and casualty insurance holding company that primarily provides personal and commercial residential insurance through our insurance company subsidiaries. We are vertically integrated and control or manage substantially all aspects of insurance underwriting, customer service, financial reporting and actuarial analysis, distribution and claims processing and adjusting. We are led by a highly experienced and diverse management team with significant expertise in the residential property insurance industry and deep industry relationships.
•Heritage Property & Casualty Insurance Company ("Heritage P&C"), which provides personal and commercial residential property insurance and commercial general liability insurance;
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $847.3M | $817.0M | $735.5M | $662.5M | $631.6M | $593.4M | $511.3M | $480.2M | $406.6M | $439.0M |
| SG&A | $93.0M | $85.1M | $77.8M | $70.4M | $65.8M | $81.5M | $80.5M | $88.5M | $71.7M | $58.9M |
| Operating income | $267.2M | $93.6M | $63.2M | -$157.4M | -$68.1M | $10.2M | $49.6M | $69.5M | $49.5M | $56.8M |
| Interest expense | $7.9M | $10.9M | $11.2M | $8.8M | — | — | — | — | — | — |
| Pre-tax income | $259.3M | $82.7M | $52.0M | -$166.2M | -$76.0M | $2.2M | $41.0M | $39.0M | -$5.9M | $56.4M |
| Income tax | $63.7M | $21.1M | $6.7M | $11.8M | $1.3M | $7.1M | $12.4M | $11.8M | $4.8M | $22.5M |
| Net income | $195.6M | $61.5M | $45.3M | -$154.4M | -$74.7M | $9.3M | $28.6M | $27.2M | -$1.1M | $33.9M |
| EPS, basic | 6.33 | 2.01 | 1.73 | -5.86 | -2.69 | 0.33 | 0.98 | 1.05 | -0.04 | 1.14 |
| EPS, diluted | 6.32 | 2.01 | 1.73 | -5.86 | -2.69 | 0.33 | 0.98 | 1.04 | -0.04 | 1.14 |
| Shares, diluted (wtd. avg.) | $30.9M | $30.7M | $26.3M | $26.3M | $27.8M | $28.0M | $29.2M | $26.1M | $26.8M | $29.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $559.3M | $452.7M | $463.6M | $280.9M | $359.3M | $441.0M | $268.4M | $250.1M | $153.7M | $105.8M |
| Property, plant and equipment | $28.3M | $38.1M | $33.2M | $25.7M | $17.4M | $18.7M | $20.8M | $18.0M | $18.7M | $17.2M |
| Goodwill | — | — | — | $0 | $92.0M | $152.5M | $152.5M | $152.5M | $152.5M | $46.5M |
| Other intangibles | $30.2M | $36.4M | $42.6M | $49.6M | $55.9M | $62.3M | $68.6M | $76.8M | $101.6M | $26.5M |
| Total assets | $2.20B | $2.47B | $2.12B | $2.39B | $1.98B | $2.09B | $1.94B | $1.77B | $1.77B | $1.03B |
| Long-term debt | $78.4M | $116.3M | $119.7M | $128.9M | $120.8M | $121.0M | $129.2M | $148.8M | $184.4M | $72.9M |
| Total liabilities | $1.69B | $2.18B | $1.90B | $2.26B | $1.64B | $1.65B | $1.49B | $1.34B | $1.39B | $675.3M |
| Retained earnings | $283.2M | $87.7M | $26.1M | -$19.2M | $138.4M | $219.8M | $217.3M | $195.8M | $175.2M | $182.8M |
| Total equity | $505.3M | $290.8M | $220.3M | $131.0M | $343.1M | $442.3M | $448.8M | $425.3M | $379.8M | $358.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $182.2M | $87.1M | $70.4M | -$34.3M | $60.1M | $170.2M | $119.7M | $96.3M | $7.5M | $83.0M |
| Depreciation and amortisation | $6.5M | $3.4M | $2.4M | $2.0M | $2.1M | $1.6M | $2.2M | $2.3M | $1.6M | $1.6M |
| Stock-based compensation | $5.4M | $3.3M | $1.4M | $2.0M | $1.2M | $4.7M | $5.4M | $5.3M | $4.8M | $4.8M |
| Capital expenditure | $8.1M | $8.2M | $9.9M | $8.6M | $1.0M | $755.0K | $5.0M | $2.3M | $385.0K | $1.6M |
| Investing cash flow | -$32.7M | -$91.6M | $100.8M | -$37.9M | -$124.5M | $22.1M | -$53.6M | $23.5M | -$7.2M | -$249.4M |
| Financing cash flow | -$40.6M | -$5.2M | $14.5M | -$5.1M | -$17.3M | -$28.9M | -$45.4M | -$32.0M | $47.6M | $43.8M |
| Dividends paid | — | — | $11.0K | $4.8M | $6.7M | $6.9M | $7.0M | $6.4M | $8.2M | $6.8M |
| Buybacks | $2.3M | $0 | $0 | $7.3M | $8.2M | $10.0M | $16.2M | $2.0M | $61.6M | $25.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197339.
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