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Hagerty, Inc.(HGTY)Earnings, Financials & Key Ratios
HGTY•NYSE•Insurance & Managed Care
$10.07
$3.46B mkt cap·27.2× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustryInsurance distributors and MGAs
AboutHagerty, Inc. provides insurance agency services worldwide. It offers automobile and boat insurance products; and reinsurance products. The company also provides Hagerty Media, which publishes contents through the HDC Magazine, video content, YouTube channel; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts; HVT, a valuation tool used by the customer to access current and historic pricing data of collector car, truck, SUV, and motorcycle models; and Hagerty Events, an eclectic mix of small and large events. In addition, it offers DriveShare, a peer-to-peer rental platform for collector and cool vehicles; Motorsport Reg, a motorsport membership, licensing, and event online management system that automates event listings, registration, and payment processing for various motorsport events; and Hagerty Garage + Social, a platform that provides clubhouses and car storage facilities. The company is headquartered in Traverse City, Michigan.Show more
- Revenue$1.46B+22.2%
- Combined Ratio90.44%-1.8%
- Net Income$49M+188.1%
- Return on Equity7.72%+130.5%
- Medical Cost Ratio19.6%-21.8%
- Operating Margin9.56%+21.5%
- Net Margin3.37%+135.7%
- ROA2.62%+148.5%
- Equity / Assets36.05%+15.3%
- Book Value per Share2.15-63.6%
- Tangible BV/Share1.57-56.5%
- Debt/Equity0.31-17.7%
HGTY Key Insights
Hagerty, Inc. (HGTY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Profitable underwriting: 90.4% combined ratio
- ✓Strong 5Y profit CAGR of 37.0%
- ✓Low loss ratio of 19.6%
✗Weaknesses
- ✗Shares diluted 100.0% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
HGTY Price & Volume
Hagerty, Inc. (HGTY) stock price & volume — 10-year historical chart
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HGTY Growth Metrics
Hagerty, Inc. (HGTY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years23.86%
3 Years20.64%
TTM13.84%
Profit CAGR
10 Years-
5 Years36.97%
3 Years15.18%
TTM-56.92%
EPS CAGR
10 Years-
5 Years-11.46%
3 Years-
TTM-1.75%
Return on Capital
10 Years2.99%
5 Years2.12%
3 Years5.46%
Last Year7.43%
HGTY Recent Earnings
Hagerty, Inc. (HGTY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 6, 2026EPS
$0.04
Est $0.01
-500.0%
Revenue
$312M
Est $285M
+9.5%
Q1 2026
Feb 26, 2026EPS
$0.08
Est $0.04
+100.0%
Revenue
$357M
Est $312M
+14.7%
Q4 2025
Nov 4, 2025EPS
$0.13
Est $0.09
+44.4%
Revenue
$380M
Est $324M
+17.5%
Q3 2025
Aug 4, 2025EPS
$0.13
Est $0.11
+18.2%
Revenue
$369M
Est $354M
+4.2%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.04vs $0.01-500.0% | $312Mvs $285M+9.5% |
| Q1 2026 | Feb 26, 2026 | $0.08vs $0.04+100.0% | $357Mvs $312M+14.7% |
| Q4 2025 | Nov 4, 2025 | $0.13vs $0.09+44.4% | $380Mvs $324M+17.5% |
| Q3 2025 | Aug 4, 2025 | $0.13vs $0.11+18.2% | $369Mvs $354M+4.2% |
Based on last 12 quarters of dataView full earnings history →
HGTY Peer Comparison
Hagerty, Inc. (HGTY) competitors in Insurance distributors and MGAs — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 KNSL | 7.03B | 303.58 | 14.02 | 18.04% | 27.48% | 28.05% | 0.11 | |
 PLMR | 2.94B | 110.75 | 15.45 | 58.16% | 22.56% | 22.79% | 0.01 | |
 HRTG | 887.78M | 28.72 | 14.29 | 11.08% | 17.72% | 41.44% | 0.49 | |
 NODK | 266.12M | 12.90 | -100% | 0.87% | 1.05% | |||
 PGR | 115.34B | 196.80 | 13.67 | 21.36% | 12.58% | 30.23% | 0.27 | |
 ALL | 56.1B | 217.92 | 5.71 | 4.64% | 18.09% | 42.74% | 0.24 | |
 ACGL | 33.74B | 94.70 | 8.15 | 14.27% | 22.07% | 19.02% | 0.11 | |
 HCI | 2B | 154.14 | 6.20 | 20.21% | 33.16% | 36.22% | 0.06 |
Compare HGTY vs Peers
Hagerty, Inc. (HGTY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HGTY Income Statement
Hagerty, Inc. (HGTY) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | 397.27M | 499.55M | 576.54M | 829.49M | 1.01B | 1.19B | 1.46B | 1.42B |
| Revenue Growth % | - | - | 15.41% | 43.87% | 21.97% | 17.77% | 22.23% | 13.84% |
| Medical Costs & Claims | 0 | 91.03M | 263.06M | 373.55M | 220.66M | 298.59M | 285.39M | 214.26M |
| Medical Cost Ratio % | 0% | 18.22% | 45.63% | 45.03% | 21.81% | 25.06% | 19.6% | 15.11% |
| Gross Profit | 397.27M▲ 0% | 408.52M▲ 2.8% | 313.48M▼ 23.3% | 455.94M▲ 45.4% | 791.1M▲ 73.5% | 892.9M▲ 12.9% | 1.17B▲ 31.1% | 891.75M▲ 0% |
| Gross Margin % | 100% | 81.78% | 54.37% | 54.97% | 78.19% | 74.94% | 80.4% | 62.89% |
| Gross Profit Growth % | - | - | -23.27% | 45.44% | 73.51% | 12.87% | 31.14% | - |
| Operating Expenses | 386.43M | 393.66M | 368.08M | 444.84M | 746.33M | 799.22M | 1.03B | 857.77M |
| OpEx / Revenue % | 97.27% | 78.8% | 63.84% | 53.63% | 73.77% | 67.08% | 70.85% | 60.5% |
| Depreciation & Amortization | 8.95M | 11.8M | 22.14M | 33.89M | 45.81M | 38.91M | 37.52M | 28.04M |
| Combined Ratio % | 97.27% | 97.03% | 109.47% | 98.66% | 95.57% | 92.14% | 90.44% | 75.61% |
| Operating Income | 10.85M▲ 0% | 14.86M▲ 37.0% | -54.6M▼ 467.5% | 11.1M▲ 120.3% | 44.77M▲ 303.5% | 93.68M▲ 109.2% | 139.18M▲ 48.6% | 106.4M▲ 0% |
| Operating Margin % | 2.73% | 2.97% | -9.47% | 1.34% | 4.43% | 7.86% | 9.56% | 7.5% |
| Operating Income Growth % | - | - | -467.47% | 120.32% | 303.5% | 109.24% | 48.57% | - |
| EBITDA | 19.8M | 26.66M | -32.46M | 44.98M | 90.58M | 132.59M | 176.71M | 134.44M |
| EBITDA Margin % | 4.98% | 5.34% | -5.63% | 5.42% | 8.95% | 11.13% | 12.13% | 9.48% |
| Interest Expense | 0 | 0 | 0 | 0 | 4.08M | 0 | 8.7M | 922K |
| Non-Operating Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pretax Income | 11.46M▲ 0% | 14.86M▲ 29.7% | -54.6M▼ 467.5% | 11.1M▲ 120.3% | 44.77M▲ 303.5% | 93.68M▲ 109.2% | 139.18M▲ 48.6% | 85.46M▲ 0% |
| Pretax Margin % | 2.88% | 2.97% | -9.47% | 1.34% | 4.43% | 7.86% | 9.56% | 6.03% |
| Income Tax | 7.25M | 4.82M | 6.75M | 7.02M | 16.59M | 15.38M | -10.04M | -7.34M |
| Effective Tax Rate % | 63.29% | 32.44% | -12.36% | 63.24% | 37.06% | 16.42% | -7.22% | -8.59% |
| Net Income | 4.21M▲ 0% | 10.17M▲ 141.7% | -46.36M▼ 556.0% | 32.08M▲ 169.2% | 20.23M▼ 36.9% | 17.02M▼ 15.9% | 49.02M▲ 188.1% | 11.52M▲ 0% |
| Net Margin % | 1.06% | 2.04% | -8.04% | 3.87% | 2% | 1.43% | 3.37% | 0.81% |
| Net Income Growth % | - | - | -556.01% | 169.2% | -36.93% | -15.89% | 188.05% | -56.92% |
| EPS (Diluted) | 0.01▲ 0% | 0.68▲ 5212.5% | -0.56▼ 182.4% | -0.07▲ 87.3% | 0.09▲ 231.0% | 0.10▲ 7.1% | 0.37▲ 270.0% | 0.11▲ 0% |
| EPS Growth % | - | - | -182.35% | 87.27% | 231% | 7.07% | 270% | -1.75% |
| EPS (Basic) | 0.01 | 0.68 | -0.56 | 0.39 | 0.19 | 0.10 | 0.44 | - |
| Diluted Shares Outstanding | 329.31M | 14.95M | 82.33M | 336.15M | 340.32M | 88.5M | 346.97M | 101.03M |
HGTY Balance Sheet
Hagerty, Inc. (HGTY) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Assets | 443.28M | 597.48M | 1.02B | 1.29B | 1.56B | 1.67B | 2.07B | 2.02B |
| Asset Growth % | - | - | 71.28% | 25.84% | 20.95% | 7.45% | 23.79% | 69.04% |
| Total Investment Assets | 0 | 0 | 0 | 0 | 0 | 589.53M | 731.14M | 4M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 589.53M | 731.14M | 1.76B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 673.1M |
| Total Current Assets | 388.14M | 406.25M | 736.87M | 700.04M | 940.92M | 407.02M | 523.73M | 1.07B |
| Cash & Equivalents | 21.81M | 299.08M | 603.97M | 539.19M | 724.28M | 232.84M | 299M | 366.73M |
| Receivables | 108.82M | 107.17M | 132.89M | 160.85M | 216.64M | 174.18M | 224.73M | 1.22B |
| Other Current Assets | 228.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 21.1M | 51.36M | 87.66M | 219.06M | 206.14M | 204.23M | 203.08M | 1.18B |
| Goodwill | 3.8M | 4.75M | 11.49M | 115.04M | 114.21M | 114.12M | 114.16M | 114.15M |
| Intangible Assets | 17.3M | 46.62M | 76.17M | 104.02M | 91.92M | 90.11M | 88.92M | 89.13M |
| PP&E (Net) | 16.23M | 25.82M | 28.36M | 107.65M | 71.28M | 62.69M | 56.91M | 0 |
| Other Assets | 17.81M | 127.28M | 188.98M | 285.76M | 369.88M | 445.87M | 514.15M | 0 |
| Total Liabilities | 332.82M | 480.16M | 752.58M | 920.51M | 1.06B | 1.19B | 1.32B | 1.29B |
| Total Debt | 52.2M | 69M | 126.43M | 277.38M | 238.1M | 198.04M | 232.57M | 0 |
| Net Debt | 30.39M | -230.08M | -477.54M | -261.81M | -486.18M | -34.81M | -66.43M | -366.73M |
| Long-Term Debt | 26.1M | 69M | 126.43M | 189.05M | 181.14M | 148.15M | 177.91M | 0 |
| Short-Term Debt | 26.1M | 0 | 9.07M | 7.56M | 6.5M | 6.71M | 8.98M | 0 |
| Total Current Liabilities | 295.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Payable | 46.65M | 0 | 0 | 0 | 0 | 108.35M | 0 | 0 |
| Deferred Revenue | 16.96M | 124.71M | 175.2M | 235.46M | 317.27M | 357.54M | 390.11M | 0 |
| Other Current Liabilities | 118.5M | -124.71M | -184.27M | -243.02M | -323.77M | -648.38M | -399.09M | 0 |
| Deferred Taxes | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 75.23M |
| Other Liabilities | 5.46M | 377.68M | 601.81M | 618.05M | 799.68M | 861.52M | 991.64M | 0 |
| Total Equity | 110.46M▲ 0% | 117.32M▲ 6.2% | 270.8M▲ 130.8% | 367.37M▲ 35.7% | 493.35M▲ 34.3% | 523.51M▲ 6.1% | 747.03M▲ 42.7% | 645.39M▲ 0% |
| Equity Growth % | - | - | 130.82% | 35.66% | 34.29% | 6.11% | 42.7% | 91.76% |
| Shareholders Equity | 110.46M | 117.2M | -323.78M | 59.25M | 175.54M | 234.99M | 307.93M | 218.68M |
| Minority Interest | 0 | 123K | 594.58M | 308.12M | 317.81M | 373.18M | 439.09M | 426.71M |
| Retained Earnings | 0 | 56.83M | -482.28M | -489.6M | -469M | -451.98M | -402.96M | -407.45M |
| Common Stock | 112.99M | 0 | 33K | 33K | 33K | 34K | 34K | 10K |
| Accumulated OCI | -2.52M | 60.37M | -1.73M | -213K | -88K | -1.51M | 1.23M | -66K |
| Return on Equity (ROE) | 3.81% | 8.67% | -23.89% | 10.05% | 4.7% | 3.35% | 7.72% | 1.77% |
| Return on Assets (ROA) | 0.95% | 1.7% | -5.72% | 2.78% | 1.42% | 1.05% | 2.62% | 0.56% |
| Equity / Assets | 24.92% | 19.64% | 26.46% | 28.53% | 31.67% | 31.28% | 36.05% | 31.88% |
| Debt / Equity | 0.47x | 0.59x | 0.47x | 0.76x | 0.48x | 0.38x | 0.31x | 0.31x |
| Book Value per Share | 0.34 | 7.85 | 3.29 | 1.09 | 1.45 | 5.92 | 2.15 | 6.39 |
| Tangible BV per Share | 0.27 | 4.41 | 2.22 | 0.44 | 0.84 | 3.61 | 1.57 | 4.38 |
HGTY Cash Flow Statement
Hagerty, Inc. (HGTY) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 50.09M | 84.57M | 42.28M | 55.33M | 144.95M | 177.02M | 218.99M | 218.99M |
| Operating CF Growth % | - | - | -50.01% | 30.86% | 161.98% | 22.13% | 23.7% | 288.66% |
| Operating CF / Revenue % | 12.61% | 16.93% | 7.33% | 6.67% | 14.33% | 14.86% | 15.04% | 15.44% |
| Net Income | 4.21M | 10.17M | -61.35M | 2.4M | 28.18M | 78.3M | 49.02M | 11.52M |
| Depreciation & Amortization | 8.95M | 11.8M | 22.14M | 33.89M | 45.81M | 38.91M | 37.52M | 36.38M |
| Stock-Based Compensation | 0 | 0 | 0 | 12.13M | 18.02M | 17.36M | 0 | 14.85M |
| Deferred Taxes | 5.92M | 0 | 3.04M | 2.97M | 2.92M | 2.93M | 0 | -47M |
| Other Non-Cash Items | 619.41K | 4.76M | 45.12M | -54.54M | 4.55M | 16.79M | 89.52M | 86.44M |
| Working Capital Changes | 30.53M | 57.85M | 33.33M | 58.47M | 45.48M | 22.74M | 42.92M | 11.28M |
| Cash from Investing | -21.06M | -47.14M | -68.99M | -91.52M | -51.87M | -618.56M | -185.2M | -220.64M |
| Capital Expenditures | -9.4M | -38.26M | -43.37M | -44.38M | -26.4M | -21.34M | -24.54M | -26.86M |
| Acquisitions | -11.25M | -8.63M | -14.61M | -30.65M | -8.68M | -25.12M | -1.62M | -1.62M |
| Purchase of Investments | 0 | 0 | -12.25M | -4.23M | -10.57M | -680.31M | -354.94M | -465.53M |
| Sale/Maturity of Investments | 0 | 0 | 1.18M | 1.22M | 7.47M | 113.22M | 229.9M | 384.07M |
| Other Investing | -406.21K | -255K | 48K | -13.47M | -13.68M | -5M | -34M | -110.71M |
| Cash from Financing | 40.09M | 39.7M | 332.07M | -28.08M | 91.14M | -46.92M | 29.93M | 106.72M |
| Dividends Paid | 0 | -4M | -4.06M | 0 | 0 | 0 | -5.6M | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -5.6M | 0 | 0 |
| Stock Issued | 89.09M | 0 | 0 | 0 | 80.69M | 0 | 0 | 0 |
| Debt Issuance (Net) | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K |
| Other Financing | -150K | -202K | 270.59M | 49K | 0 | -6.92M | -103.09M | 145.91M |
| Net Change in Cash | 69.35M▲ 0% | 299.08M▲ 331.2% | 304.89M▲ 1.9% | -64.78M▼ 121.2% | 185.09M▲ 385.7% | -491.43M▼ 365.5% | 66.16M▲ 113.5% | 12.69M▲ 0% |
| Exchange Rate Effect | 224.88K | 221.95M | -464K | -504K | 865K | -2.97M | 2.44M | 2.93M |
| Cash at Beginning | 151.71M | 0 | 299.08M | 603.97M | 539.19M | 724.28M | 232.84M | 299M |
| Cash at End | 221.06M | 299.08M | 603.97M | 539.19M | 724.28M | 232.84M | 299M | 366.73M |
| Free Cash Flow | 40.69M▲ 0% | 46.31M▲ 13.8% | -1.09M▼ 102.4% | 10.95M▲ 1105.8% | 118.55M▲ 982.3% | 155.68M▲ 31.3% | 194.45M▲ 24.9% | 164.55M▲ 0% |
| FCF Growth % | - | - | -102.35% | 1105.79% | 982.32% | 31.32% | 24.9% | 17.18% |
| FCF Margin % | 10.24% | 9.27% | -0.19% | 1.32% | 11.72% | 13.07% | 13.35% | 11.61% |
| FCF per Share | 0.12 | 3.1 | -0.01 | 0.03 | 0.35 | 1.76 | 0.56 | 0.56 |
HGTY Key Ratios
Hagerty, Inc. (HGTY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Combined Ratio | 97.03% | 109.47% | 98.66% | 95.57% | 92.14% | 90.44% | 75.61% |
| Medical Cost Ratio | 18.22% | 45.63% | 45.03% | 21.81% | 25.06% | 19.6% | 15.11% |
| Return on Equity (ROE) | 8.67% | -23.89% | 10.05% | 4.7% | 3.35% | 7.72% | 1.77% |
| Return on Assets (ROA) | 1.7% | -5.72% | 2.78% | 1.42% | 1.05% | 2.62% | 0.56% |
| Equity / Assets | 19.64% | 26.46% | 28.53% | 31.67% | 31.28% | 36.05% | 31.88% |
| Book Value / Share | 7.85 | 3.29 | 1.09 | 1.45 | 5.92 | 2.15 | 6.39 |
| Debt / Equity | 0.59x | 0.47x | 0.76x | 0.48x | 0.38x | 0.31x | 0.31x |
| Revenue Growth | - | 15.41% | 43.87% | 21.97% | 17.77% | 22.23% | 13.84% |
HGTY SEC Filings & Documents
Hagerty, Inc. (HGTY) SEC filings — annual & quarterly reports (10-K, 10-Q)
HGTY Frequently Asked Questions
Hagerty, Inc. (HGTY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Hagerty, Inc. (HGTY) grew revenue by 22.2% over the past year. This is strong growth.
Yes, Hagerty, Inc. (HGTY) is profitable, generating $11.5M in net income for fiscal year 2025 (3.4% net margin).
Dividend & Returns
Yes, Hagerty, Inc. (HGTY) pays a dividend with a yield of 0.16%. This makes it attractive for income-focused investors.
Hagerty, Inc. (HGTY) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.
Industry Metrics
Hagerty, Inc. (HGTY) has a combined ratio of 90.4%. A ratio below 100% indicates underwriting profitability.
Explore More HGTY
Hagerty, Inc. (HGTY) financial analysis — history, returns, DCA and operating performance tools
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Earnings History
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Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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