ASIC
Ategrity Specialty Holdings LLC
Insurance - Property & Casualty
Market Cap$933M
5Y Perf.-9.8%
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Stock Comparison
ASIC vs HRTG
Revenue, margins, valuation, and 5-year total return — side by side.
HRTG
Heritage Insurance Holdings, Inc.
Insurance - Property & Casualty
Market Cap$861M
5Y Perf.+12.4%
ASIC vs HRTG — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ASIC | HRTG |
|---|---|---|
| Industry | Insurance - Property & Casualty | Insurance - Property & Casualty |
| Market Cap | $933M | $861M |
| Revenue (TTM) | $424M | $847M |
| Net Income (TTM) | $74M | $196M |
| Gross Margin | 50.0% | 47.2% |
| Operating Margin | 22.6% | 31.7% |
| Forward P/E | 10.0x | 6.1x |
| Total Debt | $0.00 | $100M |
| Cash & Equiv. | $30M | $559M |
ASIC vs HRTG — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ASIC
HRTG
| Stock | Jun 25 | May 26 | Return |
|---|---|---|---|
| Ategrity Specialty … (ASIC) | 100 | 90.2 | -9.8% |
| Heritage Insurance … (HRTG) | 100 | 112.4 | +12.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ASIC vs HRTG
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HRTG leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Ategrity Specialty Holdings LLC is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
ASIC
Ategrity Specialty Holdings LLC
The Insurance Pick
ASIC is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.31, yield 0.8%
- Rev growth 23.4%, EPS growth 66.7%
- Lower volatility, beta 0.31, current ratio 0.69x
Best for: income & stability and growth exposure
HRTG
Heritage Insurance Holdings, Inc.
The Insurance Pick
HRTG carries the broadest edge in this set and is the clearest fit for long-term compounding.
- 119.4% 10Y total return vs ASIC's -21.4%
- Lower P/E (6.1x vs 10.0x)
- Combined ratio 0.7 vs ASIC's 0.8 (lower = better underwriting)
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ASIC | 23.4% revenue growth vs HRTG's 3.7% |
| Value | HRTG | Lower P/E (6.1x vs 10.0x) |
| Quality / Margins | HRTG | Combined ratio 0.7 vs ASIC's 0.8 (lower = better underwriting) |
| Stability / Safety | ASIC | Beta 0.31 vs HRTG's 0.50 |
| Dividends | ASIC | 0.8% yield; 1-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | HRTG | +15.3% vs ASIC's -21.4% |
| Efficiency (ROA) | HRTG | 8.4% ROA vs ASIC's 5.4%, ROIC 15.4% vs 15.0% |
ASIC vs HRTG — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
ASIC vs HRTG — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLHRTGLAGGINGASIC
ASICAtegrity Specialty Ho…
0leads
HRTGHeritage Insurance Ho…
3leads
6 Total Categories
CATEGORYLEADERvs ASICMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
HRTG5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HRTG5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
HRTG6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — ASIC and HRTG each lead in 2 of 4 comparable metrics.
Income & Cash Flow (Last 12 Months)
HRTG is the larger business by revenue, generating $847M annually — 2.0x ASIC's $424M. HRTG is the more profitable business, keeping 23.1% of every revenue dollar as net income compared to ASIC's 17.4%.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| RevenueTrailing 12 months | $424M | $847M |
| EBITDAEarnings before interest/tax | $97M | $281M |
| Net IncomeAfter-tax profit | $74M | $196M |
| Free Cash FlowCash after capex | $100M | $177M |
| Gross MarginGross profit ÷ Revenue | +50.0% | +47.2% |
| Operating MarginEBIT ÷ Revenue | +22.6% | +31.7% |
| Net MarginNet income ÷ Revenue | +17.4% | +23.1% |
| FCF MarginFCF ÷ Revenue | +23.5% | +20.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +2.4% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +2.3% |
Evenly matched — ASIC and HRTG each lead in 2 of 4 comparable metrics.
Valuation Metrics
HRTG leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 4.4x trailing earnings, HRTG trades at a 63% valuation discount to ASIC's 12.1x P/E. On an enterprise value basis, HRTG's 1.5x EV/EBITDA is more attractive than ASIC's 9.3x.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| Market CapShares × price | $933M | $861M |
| Enterprise ValueMkt cap + debt − cash | $903M | $402M |
| Trailing P/EPrice ÷ TTM EPS | 12.13x | 4.44x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.99x | 6.07x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.06x |
| EV / EBITDAEnterprise value multiple | 9.29x | 1.48x |
| Price / SalesMarket cap ÷ Revenue | 2.20x | 1.02x |
| Price / BookPrice ÷ Book value/share | 1.46x | 1.72x |
| Price / FCFMarket cap ÷ FCF | 6.63x | 4.94x |
HRTG leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
HRTG leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
HRTG delivers a 47.3% return on equity — every $100 of shareholder capital generates $47 in annual profit, vs $14 for ASIC. On the Piotroski fundamental quality scale (0–9), HRTG scores 7/9 vs ASIC's 6/9, reflecting strong financial health.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| ROE (TTM)Return on equity | +13.5% | +47.3% |
| ROA (TTM)Return on assets | +5.4% | +8.4% |
| ROICReturn on invested capital | +15.0% | +15.4% |
| ROCEReturn on capital employed | +18.7% | +11.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | — | 0.20x |
| Net DebtTotal debt minus cash | -$30M | -$459M |
| Cash & Equiv.Liquid assets | $30M | $559M |
| Total DebtShort + long-term debt | $0 | $100M |
| Interest CoverageEBIT ÷ Interest expense | 71.63x | 33.88x |
HRTG leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
HRTG leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HRTG five years ago would be worth $30,138 today (with dividends reinvested), compared to $7,865 for ASIC. Over the past 12 months, HRTG leads with a +15.3% total return vs ASIC's -21.4%. The 3-year compound annual growth rate (CAGR) favors HRTG at 89.9% vs ASIC's -7.7% — a key indicator of consistent wealth creation.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| YTD ReturnYear-to-date | -3.7% | +2.7% |
| 1-Year ReturnPast 12 months | -21.4% | +15.3% |
| 3-Year ReturnCumulative with dividends | -21.4% | +585.3% |
| 5-Year ReturnCumulative with dividends | -21.4% | +201.4% |
| 10-Year ReturnCumulative with dividends | -21.4% | +119.4% |
| CAGR (3Y)Annualised 3-year return | -7.7% | +89.9% |
HRTG leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — ASIC and HRTG each lead in 1 of 2 comparable metrics.
Risk & Volatility
ASIC is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than HRTG's 0.50 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HRTG currently trades 87.6% from its 52-week high vs ASIC's 76.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.31x | 0.50x |
| 52-Week HighHighest price in past year | $25.30 | $31.98 |
| 52-Week LowLowest price in past year | $16.35 | $16.83 |
| % of 52W HighCurrent price vs 52-week peak | +76.7% | +87.6% |
| RSI (14)Momentum oscillator 0–100 | 45.7 | 55.7 |
| Avg Volume (50D)Average daily shares traded | 88K | 282K |
Evenly matched — ASIC and HRTG each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates ASIC as "Buy" and HRTG as "Buy". Consensus price targets imply 39.1% upside for HRTG (target: $39) vs 31.4% for ASIC (target: $26). ASIC is the only dividend payer here at 0.76% yield — a key consideration for income-focused portfolios.
| Metric | ASICAtegrity Specialt… | HRTGHeritage Insuranc… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $25.50 | $39.00 |
| # AnalystsCovering analysts | 4 | 9 |
| Dividend YieldAnnual dividend ÷ price | +0.8% | — |
| Dividend StreakConsecutive years of raises | 1 | 1 |
| Dividend / ShareAnnual DPS | $0.15 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.3% | +0.3% |
Insufficient data to determine a leader in this category.
Key Takeaway
HRTG leads in 3 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 2 categories are tied.
Best OverallHeritage Insurance Holdings… (HRTG)Leads 3 of 6 categories
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ASIC vs HRTG: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is ASIC or HRTG a better buy right now?
For growth investors, Ategrity Specialty Holdings LLC (ASIC) is the stronger pick with 23.
4% revenue growth year-over-year, versus 3. 7% for Heritage Insurance Holdings, Inc. (HRTG). Heritage Insurance Holdings, Inc. (HRTG) offers the better valuation at 4. 4x trailing P/E (6. 1x forward), making it the more compelling value choice. Analysts rate Ategrity Specialty Holdings LLC (ASIC) a "Buy" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ASIC or HRTG?
On trailing P/E, Heritage Insurance Holdings, Inc.
(HRTG) is the cheapest at 4. 4x versus Ategrity Specialty Holdings LLC at 12. 1x. On forward P/E, Heritage Insurance Holdings, Inc. is actually cheaper at 6. 1x.
03Which is the better long-term investment — ASIC or HRTG?
Over the past 5 years, Heritage Insurance Holdings, Inc.
(HRTG) delivered a total return of +201. 4%, compared to -21. 4% for Ategrity Specialty Holdings LLC (ASIC). Over 10 years, the gap is even starker: HRTG returned +119. 4% versus ASIC's -21. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ASIC or HRTG?
By beta (market sensitivity over 5 years), Ategrity Specialty Holdings LLC (ASIC) is the lower-risk stock at 0.
31β versus Heritage Insurance Holdings, Inc. 's 0. 50β — meaning HRTG is approximately 61% more volatile than ASIC relative to the S&P 500.
05Which is growing faster — ASIC or HRTG?
By revenue growth (latest reported year), Ategrity Specialty Holdings LLC (ASIC) is pulling ahead at 23.
4% versus 3. 7% for Heritage Insurance Holdings, Inc. (HRTG). On earnings-per-share growth, the picture is similar: Heritage Insurance Holdings, Inc. grew EPS 214. 4% year-over-year, compared to 66. 7% for Ategrity Specialty Holdings LLC. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ASIC or HRTG?
Heritage Insurance Holdings, Inc.
(HRTG) is the more profitable company, earning 23. 1% net margin versus 17. 4% for Ategrity Specialty Holdings LLC — meaning it keeps 23. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HRTG leads at 30. 6% versus 22. 6% for ASIC. At the gross margin level — before operating expenses — HRTG leads at 63. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ASIC or HRTG more undervalued right now?
On forward earnings alone, Heritage Insurance Holdings, Inc.
(HRTG) trades at 6. 1x forward P/E versus 10. 0x for Ategrity Specialty Holdings LLC — 3. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for HRTG: 39. 1% to $39. 00.
08Which pays a better dividend — ASIC or HRTG?
In this comparison, ASIC (0.
8% yield) pays a dividend. HRTG does not pay a meaningful dividend and should not be held primarily for income.
09Is ASIC or HRTG better for a retirement portfolio?
For long-horizon retirement investors, Ategrity Specialty Holdings LLC (ASIC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
31), 0. 8% yield). Both have compounded well over 10 years (ASIC: -21. 4%, HRTG: +119. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ASIC and HRTG?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: ASIC is a small-cap high-growth stock; HRTG is a small-cap deep-value stock. ASIC pays a dividend while HRTG does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(ASIC: 23.4% · HRTG: 2.4%)Net Margin>
%
(ASIC: 17.4% · HRTG: 23.1%)P/E Ratio<
x
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