HCI Group, Inc. (HCI) 10-Year Financial Performance & Capital Metrics

HCI • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsurancePersonal Lines InsuranceFlorida-Focused Residential

AboutHCI Group, Inc., together with its subsidiaries, engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs. The company also owns and operates waterfront properties and retail shopping centers, and an office building, as well as commercial properties for investment purposes. In addition, it designs and develops web-based applications and products for mobile devices, including SAMS, an online policy administration platform; Harmony, a policy administration platform; ClaimColony, an end-to-end claims management platform; and AtlasViewer, a mapping and data visualization platform. The company was formerly known as Homeowners Choice, Inc. and changed its name to HCI Group, Inc. in May 2013. HCI Group, Inc. was incorporated in 2006 and is headquartered in Tampa, Florida.Show more

Revenue $749M +36.3%
Combined Ratio 76.86% -2.2%
Net Income $110M +39.1%
Return on Equity 24.64% +5.7%
Medical Cost Ratio 63.26% +0.7%
Operating Margin 23.14% +8.2%
Net Margin 14.67% +2.1%
ROA 5.44% +24.4%
Equity / Assets 21.03% -10.0%
Book Value per Share 36.97 -3.5%
Tangible BV/Share 36.56 -2.9%
Debt/Equity 0.40 -19.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 76.9% combined ratio
✓Strong 5Y profit CAGR of 32.8%

✗Weaknesses

✗Shares diluted 14.9% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.91%

5Y25.43%

3Y23.02%

TTM8.82%

Profit (Net Income) CAGR

10Y5.78%

5Y32.84%

3Y289.83%

TTM40.2%

EPS CAGR

10Y5.19%

5Y21.85%

3Y248.52%

TTM30.69%

ROCE

10Y Avg4.64%

5Y Avg3.27%

3Y Avg3.68%

Latest8.58%

Peer Comparison

Florida-Focused Residential

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HCIHCI Group, Inc.	2.27B	174.95	19.68	36.26%	24.97%	23.84%	14.46%	0.40
UVEUniversal Insurance Holdings, Inc.	838.94M	29.91	14.88	9.27%	7.74%	24.72%	15.49%	0.27
HRTGHeritage Insurance Holdings, Inc.	799.06M	25.85	12.86	11.08%	17.72%	34.12%	9.87%	0.49
SLDESlide Insurance Holdings, Inc. Common Stock	2.01B	16.17	10.04	80.74%	33.29%	36.16%	27.06%	0.11
AIIAmerican Integrity Insurance Group, Inc.	372.55M	19.03	9.81	1.73%	31.63%	27.59%	39.62%	0.02
ACICAmerican Coastal Insurance Corporation	548.61M	11.25	7.35	12.51%	26%	26.04%	44.38%	0.65

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	285.95M	258.22M	244.41M	231.29M	241.38M	275.73M	402.55M	491.99M	550.01M	749.45M
Revenue Growth %	0.07%	-0.1%	-0.05%	-0.05%	0.04%	0.14%	0.46%	0.22%	0.12%	0.36%
Medical Costs & Claims+	129.21M	167.31M	205.29M	148.27M	150.01M	213.9M	321.26M	476.44M	345.4M	474.11M
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	156.74M	90.91M	39.11M	83.02M	91.37M	61.84M	81.29M	15.55M	204.61M	275.34M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.05%	-0.42%	-0.57%	1.12%	0.1%	-0.32%	0.31%	-0.81%	12.16%	0.35%
Operating Expenses+	50.55M	44.05M	54.74M	56.12M	55.28M	24.91M	70.06M	83.97M	86.96M	101.92M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	5.25M	5.41M	9.59M	11M	8.94M	8.75M	5.55M	8.01M	8.18M	4.3M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	106.19M	46.86M	-15.62M	26.9M	36.09M	36.93M	11.23M	-68.42M	117.65M	173.43M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.05%	-0.56%	-1.33%	2.72%	0.34%	0.02%	-0.7%	-7.09%	2.72%	0.47%
EBITDA+	111.44M	52.26M	-6.03M	37.9M	45.03M	45.67M	16.78M	-60.41M	125.83M	177.73M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	10.75M	11.08M	16.77M	18.1M	12.9M	11.58M	6.3M	7.64M	11.12M	13.34M
Non-Operating Income	-10.75M	-11.08M	-16.77M	-18.1M	-12.9M	-11.58M	-6.3M	-7.64M	-11.04M	-13.29M
Pretax Income+	106.19M	46.86M	-15.62M	26.9M	36.09M	36.93M	11.23M	-68.42M	117.65M	173.43M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	40.33M	17.84M	-8.73M	9.18M	9.52M	9.35M	3.99M	-13.81M	28.39M	45.85M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	65.86M	29.02M	-6.89M	17.73M	26.58M	27.58M	1.86M	-58.51M	79.03M	109.95M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.05%	-0.56%	-1.24%	3.57%	0.5%	0.04%	-0.93%	-32.53%	2.35%	0.39%
EPS (Diluted)+	5.90	2.92	-0.81	2.25	3.31	3.49	0.21	-6.24	7.62	8.89
EPS Growth %	0.1%	-0.51%	-1.28%	3.78%	0.47%	0.05%	-0.94%	-30.71%	2.22%	0.17%
EPS (Basic)	6.51	2.95	-0.81	2.25	3.32	3.55	0.23	-6.24	9.13	10.59
Diluted Shares Outstanding	11.36M	10.87M	8.56M	7.89M	10.24M	9.69M	8.58M	8.82M	11.04M	12.69M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	636.99M	670.06M	842.26M	832.86M	802.61M	941.31M	1.18B	1.8B	1.81B	2.23B
Asset Growth %	0.06%	0.05%	0.26%	-0.01%	-0.04%	0.17%	0.25%	0.53%	0%	0.23%
Total Investment Assets+	232.92M	298.73M	380.29M	377.97M	341.49M	225.72M	196.72M	1.03B	257.61M	874.66M
Long-Term Investments	201.96M	250.65M	321.93M	323.48M	267.72M	151.25M	122.82M	544.2M	23.58M	795.54M
Short-Term Investments	173.25M	219.28M	296.39M	249.2M	203.33M	71.72M	42.58M	483.9M	234.03M	521.3M
Total Current Assets+	394.14M	448.43M	88.28M	635.14M	0	0	0	1.47B	859.62M	0
Cash & Equivalents	267.74M	280.53M	255.88M	239.46M	229.22M	431.34M	628.94M	234.86M	536.48M	532.47M
Receivables	1000K	1000K	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-617.71M	-711.39M	-856.57M	751.29M	770.5M	-1.77B
Goodwill & Intangibles+	18.6M	4.9M	5M	4.8M	4.19M	3.57M	10.64M	10.58M	7.66M	5.21M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	18.6M	4.9M	5M	4.8M	4.19M	3.57M	10.64M	10.58M	7.66M	5.21M
PP&E (Net)	11.79M	11.37M	12.46M	13.34M	15.18M	16.77M	16.44M	18.69M	30.66M	31.55M
Other Assets	-220.56M	-250.65M	-338.77M	-3.59M	-287.1M	-171.59M	-149.89M	-2K	1.19B	-832.29M
Total Liabilities	399.26M	426.32M	648.29M	651.42M	617.07M	740.18M	762.4M	1.55B	1.39B	1.76B
Total Debt+	129.43M	138.86M	237.84M	250.15M	173.96M	184.28M	62.71M	212.41M	209.9M	186.44M
Net Debt	-138.31M	-141.67M	-18.05M	10.69M	-55.26M	-247.07M	-566.24M	-22.45M	-326.57M	-346.03M
Long-Term Debt	129.43M	138.86M	237.84M	250.15M	163.63M	156.47M	45.47M	211.67M	208.49M	185.25M
Short-Term Debt	0	0	89.99M	0	9.75M	23.75M	15M	1.16M	0	0
Total Current Liabilities+	6.07M	3.29M	90M	14K	0	0	0	26.97M	296.25M	0
Accounts Payable	1.08M	3.29M	15K	14K	76K	87K	23.34M	26.25M	12.92M	22.98M
Deferred Revenue	4.98M	2.51M	0	-91.3M	0	0	0	0	7.7M	0
Other Current Liabilities	-6.07M	-5.8M	-90M	-14K	-20.4M	-47.8M	-55.99M	-15.71M	246.8M	-47.3M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K
Other Liabilities	0	0	410.45M	0	-167.7M	-168.44M	-57.24M	1.34B	1.18B	-188.08M
Total Equity+	237.72M	243.75M	193.97M	181.44M	185.54M	201.14M	414.46M	254.81M	423.32M	469.04M
Equity Growth %	0.3%	0.03%	-0.2%	-0.06%	0.02%	0.08%	1.06%	-0.39%	0.66%	0.11%
Shareholders Equity	237.72M	243.75M	193.97M	181.44M	185.54M	201.14M	323.37M	162.6M	324.84M	453.33M
Minority Interest	0	0	0	0	0	0	91.09M	92.21M	98.48M	15.71M
Retained Earnings	215.63M	232.96M	189.41M	182.89M	183.37M	199.59M	246.79M	172.48M	238.44M	331.79M
Common Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.79M	2.64M	4.57M	-1.45M	2.18M	1.54M	498K	-9.89M	-3.16M	-749K
Return on Equity (ROE)	0.31%	0.12%	-0.03%	0.09%	0.14%	0.14%	0.01%	-0.17%	0.23%	0.25%
Return on Assets (ROA)	0.11%	0.04%	-0.01%	0.02%	0.03%	0.03%	0%	-0.04%	0.04%	0.05%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.54x	0.57x	1.23x	1.38x	0.94x	0.92x	0.15x	0.83x	0.50x	0.40x
Book Value per Share	20.94	22.42	22.67	22.98	18.12	20.75	48.31	28.90	38.33	36.97
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	45.27M	87.97M	16.43M	28.59M	54.05M	77.31M	96.5M	-12K	230.66M	331.82M
Operating CF Growth %	-0.49%	0.94%	-0.81%	0.74%	0.89%	0.43%	0.25%	-1%	19222.5%	0.44%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	65.86M	29.02M	-6.89M	17.73M	26.58M	27.58M	7.24M	-54.6M	76.41M	109.95M
Depreciation & Amortization	5.25M	5.41M	9.59M	11M	8.94M	8.75M	5.55M	8.01M	8.18M	4.3M
Stock-Based Compensation	5.21M	4.2M	4.52M	4.63M	6.46M	8.13M	13.75M	15.11M	9.35M	10.19M
Deferred Taxes	-1.1M	155K	-4.91M	141K	1.87M	8.12M	1.14M	-9.88M	649K	2.41M
Other Non-Cash Items	9.26M	-5.85M	-1.94M	2.75M	-3.93M	-35.31M	-7.43M	-7.78M	-2.88M	9.12M
Working Capital Changes	-39.21M	55.04M	16.05M	-7.64M	14.13M	60.04M	76.24M	49.13M	138.95M	195.85M
Cash from Investing+	-80.36M	-49.03M	-80.16M	-17.68M	50.46M	143.22M	36.85M	-434.54M	4.27M	-260.11M
Capital Expenditures	-840K	-865K	-2.98M	-2.6M	-2.89M	-6.44M	-3.32M	-10.14M	-478K	-4.05M
Acquisitions	-25.07M	-16.41M	-4.23M	-7.18M	-1.17M	-4.24M	-3.76M	-1.97M	0	-1.23M
Purchase of Investments	-131.38M	-107.96M	-165.2M	-366.96M	-108.48M	-103.37M	-122.41M	-637.77M	0	-836.64M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-11.82M	7.94M	297K	-6.62M	-9.36M	43.07M	3.91M	20.04M	42K	-12.46M
Cash from Financing+	-11.53M	-26.16M	39.03M	-27.29M	-114.72M	-16.7M	64.3M	41.07M	67.12M	-75.17M
Dividends Paid	-12.43M	-12.44M	-13.91M	-11.32M	-13.01M	-12.69M	-14.06M	-15.23M	-13.72M	-16.6M
Share Repurchases	-2.4M	-20.49M	-45.87M	-21.17M	-20.05M	-6.71M	-1.31M	-88.31M	-784K	-1.04M
Stock Issued	0	0	0	0	0	0	0	0	84.57M	0
Debt Issuance (Net)	0	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K
Other Financing	3.31M	-526K	-3.83M	323K	-90K	204K	89.4M	-11.88M	-7.5M	-100.55M
Net Change in Cash+	-46.68M	12.79M	-24.65M	-16.54M	-10.24M	203.82M	197.6M	-393.58M	302M	-3.58M
Exchange Rate Effect	-61K	3K	61K	-164K	-22K	2K	-54K	-98K	-42K	-112K
Cash at Beginning	314.42M	267.74M	280.53M	256.69M	240.16M	229.92M	433.74M	631.34M	237.76M	539.76M
Cash at End	267.74M	280.53M	255.88M	240.16M	229.92M	433.74M	631.34M	237.76M	539.76M	536.18M
Free Cash Flow+	44.43M	87.11M	13.45M	26M	51.16M	70.87M	93.19M	-10.15M	224.16M	327.76M
FCF Growth %	-0.5%	0.96%	-0.85%	0.93%	0.97%	0.39%	0.31%	-1.11%	23.08%	0.46%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	3.91	8.01	1.57	3.29	5	7.31	10.86	-1.15	20.3	25.84

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	62.86%	81.85%	106.39%	88.37%	85.05%	86.61%	97.21%	113.91%	78.61%	76.86%
Medical Cost Ratio	45.19%	64.79%	84%	64.11%	62.15%	77.57%	79.81%	96.84%	62.8%	63.26%
Return on Equity (ROE)	31.34%	12.06%	-3.15%	9.44%	14.48%	14.27%	0.6%	-17.49%	23.31%	24.64%
Return on Assets (ROA)	10.63%	4.44%	-0.91%	2.12%	3.25%	3.16%	0.18%	-3.93%	4.37%	5.44%
Equity / Assets	37.32%	36.38%	23.03%	21.79%	23.12%	21.37%	35.22%	14.13%	23.37%	21.03%
Book Value / Share	20.94	22.42	22.67	22.98	18.12	20.75	48.31	28.9	38.33	36.97
Debt / Equity	0.54x	0.57x	1.23x	1.38x	0.94x	0.92x	0.15x	0.83x	0.50x	0.40x
Revenue Growth	7.46%	-9.7%	-5.35%	-5.37%	4.36%	14.23%	45.99%	22.22%	11.79%	36.26%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Real Estate Operations	-	7.05M	9.32M	9.37M	46.47M	12.23M	23.77M	18.71M	14.07M
Real Estate Operations Growth	-	-	32.23%	0.45%	396.15%	-73.69%	94.40%	-21.28%	-24.81%
H C P C I Insurance Operations	-	-	-	-	-	280.74M	307.25M	305.05M	-
H C P C I Insurance Operations Growth	-	-	-	-	-	-	9.44%	-0.72%	-
Corporate and Other	16.15M	7.64M	10.5M	-	-	-	6.49M	10.36M	-
Corporate and Other Growth	-	-52.69%	37.44%	-	-	-	-	59.71%	-
Typ Tap Insurance Company	-	-	-	-	-	118.49M	-	-	-
Typ Tap Insurance Company Growth	-	-	-	-	-	-	-	-	-
Corporate And Other	-	-	-	8.93M	2.88M	8.41M	-	-	-
Corporate And Other Growth	-	-	-	-	-67.78%	192.11%	-	-	-
Insurance Operations	256.65M	241.55M	224.21M	239.1M	274.23M	-	-	-	-
Insurance Operations Growth	-	-5.88%	-7.18%	6.64%	14.70%	-	-	-	-

Frequently Asked Questions

Valuation & Price

HCI Group, Inc. (HCI) has a price-to-earnings (P/E) ratio of 19.7x. This is roughly in line with market averages.

Growth & Financials

HCI Group, Inc. (HCI) grew revenue by 36.3% over the past year. This is strong growth.

Yes, HCI Group, Inc. (HCI) is profitable, generating $203.9M in net income for fiscal year 2024 (14.7% net margin).

Dividend & Returns

Yes, HCI Group, Inc. (HCI) pays a dividend with a yield of 0.75%. This makes it attractive for income-focused investors.

HCI Group, Inc. (HCI) has a return on equity (ROE) of 24.6%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

HCI Group, Inc. (HCI) has a combined ratio of 76.9%. A ratio below 100% indicates underwriting profitability.

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