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PRA logoProAssurance Corporation(PRA)Earnings, Financials & Key Ratios

PRA•NYSE•Insurance & Managed Care
$24.66
$1.27B mkt cap·24.9× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
AboutProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare providers and institutions, and attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance, such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies, as well as alternative market solutions that include program design, fronting, claims administration, risk management, SPC rental, asset management, and SPC management services for individual companies, agencies, groups, and associations. The company also participates in Lloyd's of London Syndicate 1729, which underwrites property and casualty insurance, and reinsurance. It markets its products through independent agencies and brokers, as well as an internal sales force. The company was founded in 1976 and is headquartered in Birmingham, Alabama.Show more
  • Revenue$1.1B-2.7%
  • Combined Ratio93.44%-1.0%
  • Net Income$51M-3.5%
  • Return on Equity3.99%-12.4%
  • Medical Cost Ratio60.6%-21.9%
  • Operating Margin6.56%+17.4%
  • Net Margin4.64%-0.8%
  • ROA0.92%-1.8%
  • Equity / Assets24.77%+14.9%
  • Book Value per Share26.11+11.4%
  • Tangible BV/Share25.07+12.5%
  • Debt/Equity0.33-10.1%
Technical→

PRA Key Insights

ProAssurance Corporation (PRA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 93.4% combined ratio
  • ✓Trading near 52-week high
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 1.7%
  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PRA Price & Volume

ProAssurance Corporation (PRA) stock price & volume — 10-year historical chart

Loading chart...

PRA Growth Metrics

ProAssurance Corporation (PRA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.63%
5 Years4.36%
3 Years-0.11%
TTM-3.86%

Profit CAGR

10 Years-7.92%
5 Years-
3 Years-
TTM-3.47%

EPS CAGR

10 Years-7.29%
5 Years-
3 Years-
TTM-5.1%

Return on Capital

10 Years0.94%
5 Years1.6%
3 Years1.79%
Last Year3.97%

PRA Recent Earnings

ProAssurance Corporation (PRA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 9/12 qtrs (75%)
Q1 2026Latest
Feb 23, 2026
EPS
$0.82
Est $0.22
+272.7%
Revenue
$232M
Est $231M
+0.6%
Q4 2025
Nov 4, 2025
EPS
$0.15
Est $0.28
-46.4%
Revenue
$275M
Est $261M
+5.3%
Q3 2025
Aug 5, 2025
EPS
$0.52
Est $0.19
+173.7%
Revenue
$277M
Est $266M
+4.1%
Q2 2025
May 6, 2025
EPS
$0.13
Est $0.19
-31.6%
Revenue
$272M
Est $272M
-0.0%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 23, 2026
$0.82vs $0.22+272.7%
$232Mvs $231M+0.6%
Q4 2025Nov 4, 2025
$0.15vs $0.28-46.4%
$275Mvs $261M+5.3%
Q3 2025Aug 5, 2025
$0.52vs $0.19+173.7%
$277Mvs $266M+4.1%
Q2 2025May 6, 2025
$0.13vs $0.19-31.6%
$272Mvs $272M-0.0%
Based on last 12 quarters of dataView full earnings history →

PRA Peer Comparison

ProAssurance Corporation (PRA) competitors in Specialty and excess surplus insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
HCI logoHCIHCI Group, Inc.Direct Competitor1.99B154.786.2220.21%34.31%29.62%22.29%0.03
PLMR logoPLMRPalomar Holdings, Inc.Direct Competitor2.96B111.7324.9447.33%22.66%20.03%8.81%
ACGL logoACGLArch Capital Group Ltd.Direct Competitor33.54B94.148.1014.27%22.07%19.02%18.27%0.11
RLI logoRLIRLI Corp.Direct Competitor4.6B50.0911.496.33%20.8%22%13.22%0.06
MMC logoMMCMarsh & McLennan Companies, Inc.Product Competitor85.27B174.0621.287.57%15.6%26.87%4.67%1.62
AJG logoAJGArthur J. Gallagher & Co.Product Competitor52.91B205.8035.7920.66%10.72%6.5%3.37%0.60
HIG logoHIGThe Hartford Financial Services Group, Inc.Product Competitor36.89B134.1510.077.1%14.13%22.01%15.59%0.23
CNA logoCNACNA Financial CorporationProduct Competitor12.05B44.539.495.1%8.69%11.65%19.96%0.27

Compare PRA vs Peers

ProAssurance Corporation (PRA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HCI

Most directly comparable listed peer for PRA.

Scale Benchmark

vs UNH

Larger-name benchmark to compare PRA against a more recognizable public peer.

Peer Set

Compare Top 5

vs HCI, PLMR, ACGL, RLI

PRA Income Statement

ProAssurance Corporation (PRA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue858.12M877.08M1.01B886.86M1.08B1.1B1.13B1.13B1.1B
Revenue Growth %-2.04%2.21%15.14%-12.18%21.26%2.45%2.6%-0.2%-2.67%
Medical Costs & Claims564.91M697.71M869.25M772.01M862.85M909.94M935.31M874.87M665.42M
Medical Cost Ratio %65.83%79.55%86.07%87.05%80.23%82.59%82.74%77.55%60.6%
Gross Profit
293.21M▲ 0%
179.37M▼ 38.8%
140.65M▼ 21.6%
114.85M▼ 18.3%
212.58M▲ 85.1%
191.86M▼ 9.7%
195.11M▲ 1.7%
253.34M▲ 29.8%
432.61M▲ 70.8%
Gross Margin %34.17%20.45%13.93%12.95%19.77%17.41%17.26%22.45%39.4%
Gross Profit Growth %-14.86%-38.82%-21.59%-18.34%85.1%-9.75%1.69%29.84%70.77%
Operating Expenses164.58M150.35M169.45M331.9M65.97M198.08M234.26M190.26M360.54M
OpEx / Revenue %19.18%17.14%16.78%37.42%6.13%17.98%20.72%16.86%32.84%
Depreciation & Amortization28.8M21.25M18.66M21.38M37.25M38.06M26.02M17.75M13.69M
Combined Ratio %85.01%96.69%102.85%124.47%86.37%100.56%103.46%94.41%93.44%
Operating Income
128.62M▲ 0%
29.02M▼ 77.4%
-28.8M▼ 199.2%
-217.06M▼ 653.6%
146.61M▲ 167.5%
-6.22M▼ 104.2%
-39.15M▼ 529.8%
63.08M▲ 261.1%
72.07M▲ 14.3%
Operating Margin %14.99%3.31%-2.85%-24.47%13.63%-0.56%-3.46%5.59%6.56%
Operating Income Growth %-27%-77.43%-199.24%-653.56%167.54%-104.24%-529.81%261.12%14.25%
EBITDA157.42M50.28M-10.14M-195.68M183.85M31.85M-13.13M80.83M85.76M
EBITDA Margin %18.34%5.73%-1%-22.06%17.1%2.89%-1.16%7.16%7.81%
Interest Expense16.84M16.12M16.64M15.5M19.72M20.37M23.15M22.34M20.84M
Non-Operating Income-16.84M-16.12M-16.64M-15.5M-19.72M-20.37M-23.15M-22.34M-20.84M
Pretax Income
128.62M▲ 0%
29.02M▼ 77.4%
-28.8M▼ 199.2%
-217.06M▼ 653.6%
146.61M▲ 167.5%
-6.22M▼ 104.2%
-39.15M▼ 529.8%
63.08M▲ 261.1%
72.07M▲ 14.3%
Pretax Margin %14.99%3.31%-2.85%-24.47%13.63%-0.56%-3.46%5.59%6.56%
Income Tax21.36M-18.03M-29.81M-41.33M2.48M-5.81M-545K10.33M21.15M
Effective Tax Rate %16.61%-62.13%103.49%19.04%1.69%93.53%1.39%16.38%29.35%
Net Income
107.26M▲ 0%
47.06M▼ 56.1%
1M▼ 97.9%
-175.73M▼ 17602.7%
144.12M▲ 182.0%
-402K▼ 100.3%
-38.6M▼ 9503.0%
52.74M▲ 236.6%
50.91M▼ 3.5%
Net Margin %12.5%5.37%0.1%-19.81%13.4%-0.04%-3.42%4.68%4.64%
Net Income Growth %-29%-56.13%-97.87%-17602.69%182.02%-100.28%-9502.99%236.63%-3.47%
EPS (Diluted)
2.00▲ 0%
0.88▼ 56.0%
0.02▼ 97.9%
-3.26▼ 17626.9%
2.67▲ 181.9%
-0.01▼ 100.3%
-0.73▼ 9764.9%
1.03▲ 241.1%
0.99▼ 3.9%
EPS Growth %-29.33%-56%-97.89%-17626.88%181.9%-100.28%-241.1%-3.88%
EPS (Basic)2.010.880.02-3.262.67-0.01-0.731.030.99
Diluted Shares Outstanding53.61M53.75M53.84M53.91M54.06M54.14M52.79M51.27M51.67M

PRA Balance Sheet

ProAssurance Corporation (PRA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets4.93B4.6B4.81B4.65B6.19B5.7B5.63B5.57B5.45B
Asset Growth %-2.68%-6.66%4.45%-3.14%33.01%-7.94%-1.19%-1.02%-2.28%
Total Investment Assets503.55M466.14M3.42B3.42B8.7B4.42B420.78M4.4B4.43B
Long-Term Investments503.55M466.14M3.29B3.27B4.64B512.69M420.78M376.56M4.43B
Short-Term Investments002.63B2.8B4.05B3.72B04.02B4.09B
Total Current Assets134.5M80.47M004.93B0541.25M0549.88M
Cash & Equivalents134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M36.49M
Receivables00652.99M600.85M707.43M693.3M235.57M656.2M227.76M
Other Current Assets00-3.5B-3.65B0-4.47B239.78M-4.58B0
Goodwill & Intangibles293.73M287.52M281.48M115.33M122.95M116.41M65.8M59.7M54.04M
Goodwill210.72M210.72M210.72M49.61M49.61M49.61M5.5M5.5M5.5M
Intangible Assets83M76.8M70.76M65.72M73.34M66.8M60.31M54.2M48.54M
PP&E (Net)0021.07M19.01M19.59M18.99M46.03M16.51M13.82M
Other Assets72.81M155.74M-3.59B-3.41B0-648.09M3.9B-452.78M-4.44B
Total Liabilities3.33B3.08B3.29B3.31B4.76B4.6B4.52B4.37B4.1B
Total Debt411.81M287.76M307.87M304.83M445.83M446.99M444.31M442.26M446.46M
Net Debt277.32M207.29M132.5M89.05M302.23M417.03M378.41M387.38M409.97M
Long-Term Debt410.42M287.76M285.82M284.71M424.99M426.98M427.13M299.87M420.42M
Short-Term Debt0000003.29M125M14.64M
Total Current Liabilities000022.63M02.96B3.83B3.56B
Accounts Payable37.73M55.61M52.95M40M22.63M28.51M24.02M27.29M14.42M
Deferred Revenue0-1.45M000422.95M0418.76M0
Other Current Liabilities-351.94M-151.22M-125.39M-108.86M0-451.46M2.93B3.26B3.53B
Deferred Taxes1000K000001000K01000K
Other Liabilities2.91B2.79B-307.87M-304.83M4.32B226.38M619.18M226.52M3.27B
Total Equity
1.59B▲ 0%
1.52B▼ 4.5%
1.51B▼ 0.7%
1.35B▼ 10.8%
1.43B▲ 5.9%
1.1B▼ 22.7%
1.11B▲ 0.7%
1.2B▲ 8.1%
1.35B▲ 12.3%
Equity Growth %-11.34%-4.5%-0.73%-10.76%5.87%-22.71%0.72%8.07%12.26%
Shareholders Equity1.59B1.52B1.51B1.35B1.43B1.1B1.11B1.2B1.35B
Minority Interest000000000
Retained Earnings1.61B1.57B1.51B1.3B1.43B1.42B1.38B1.43B1.49B
Common Stock628K630K631K632K633K634K636K638K640K
Accumulated OCI14.91M-16.91M36.95M75.23M16.28M-298.61M-204.49M-172.39M-81.05M
Return on Equity (ROE)6.32%3.02%0.07%-12.28%10.38%-0.03%-3.48%4.56%3.99%
Return on Assets (ROA)2.15%0.99%0.02%-3.72%2.66%-0.01%-0.68%0.94%0.92%
Equity / Assets32.35%33.1%31.46%28.99%23.07%19.37%19.74%21.56%24.77%
Debt / Equity0.26x0.19x0.20x0.23x0.31x0.40x0.40x0.37x0.33x
Book Value per Share29.7528.3428.0825.0326.4220.3921.0723.4426.11
Tangible BV per Share24.2722.9922.8522.8924.1518.2419.8222.2825.07

PRA Cash Flow Statement

ProAssurance Corporation (PRA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations173.39M177.26M148.17M92.34M73.97M-29.84M-49.88M-10.71M-25.62M
Operating CF Growth %-3.13%2.24%-16.42%-37.68%-19.9%-140.34%-67.17%78.52%-139.1%
Operating CF / Revenue %20.21%20.21%14.67%10.41%6.88%-2.71%-4.41%-0.95%-2.33%
Net Income107.26M47.06M1M-175.73M144.12M-402K-38.6M52.74M50.91M
Depreciation & Amortization28.8M21.25M18.66M21.38M37.25M38.06M26.02M17.75M13.69M
Stock-Based Compensation10.62M5.32M3.53M3.84M4.39M4.83M5.25M6.2M7.85M
Deferred Taxes0-11.82M-28.64M-21.15M1.32M-6.62M-1.77M12.82M16.79M
Other Non-Cash Items-3.68M61.09M-25.26M203.07M-126.01M58.79M41.17M-4.28M11.27M
Working Capital Changes30.39M54.37M178.87M60.93M12.9M-124.5M-81.94M-95.96M-126.13M
Cash from Investing200.28M214.9M50.52M-8.48M-85.53M-62M141.14M10.67M19.44M
Capital Expenditures0-9.64M-9.59M-7.48M-3.84M-4.35M-4.79M-9.02M-3.6M
Acquisitions-42.69M-70.82M216.7M000039.68M19.38M
Purchase of Investments-915.35M-1.05B-770.19M0-1.51B-681.25M-464.94M-798.44M-924.07M
Sale/Maturity of Investments1.11B1.07B597.59M01.35B656.2M586.17M778.45M907.45M
Other Investing50.35M282.18M16M-1.01M78.31M-32.59M24.69M020.27M
Cash from Financing-356.51M-446.19M-103.79M-43.45M-60.62M-21.8M-55.31M-10.97M-12.2M
Dividends Paid-315.23M-316.48M-93.2M-38.66M-10.76M-10.77M-5.38M00
Share Repurchases0-1M0-2.35M-10.38M-3.25M-50.49M00
Stock Issued0002.35M10.38M008K0
Debt Issuance (Net)-1000K-1000K-1000K-1000K-1000K00-1000K-1000K
Other Financing-4.75M-5.31M-9.14M-935K-3.38M-7.79M552K-6.29M-5.95M
Net Change in Cash
17.15M▲ 0%
-54.02M▼ 415.0%
94.9M▲ 275.7%
40.41M▼ 57.4%
-72.18M▼ 278.6%
-113.64M▼ 57.4%
35.94M▲ 131.6%
-11.02M▼ 130.7%
-18.39M▼ 66.9%
Exchange Rate Effect000000000
Cash at Beginning117.35M134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M
Cash at End134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M36.49M
Free Cash Flow
162.9M▲ 0%
167.63M▲ 2.9%
138.58M▼ 17.3%
84.86M▼ 38.8%
70.13M▼ 17.4%
-34.19M▼ 148.8%
-54.67M▼ 59.9%
-19.73M▲ 63.9%
-29.22M▼ 48.1%
FCF Growth %-3.07%2.9%-17.33%-38.76%-17.36%-148.76%-59.9%63.91%-48.08%
FCF Margin %18.98%19.11%13.72%9.57%6.52%-3.1%-4.84%-1.75%-2.66%
FCF per Share3.043.122.571.571.3-0.63-1.04-0.38-0.57

PRA Key Ratios

ProAssurance Corporation (PRA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Combined Ratio79.89%85.01%96.69%102.85%124.47%86.37%100.56%103.46%94.41%93.44%
Medical Cost Ratio60.69%65.83%79.55%86.07%87.05%80.23%82.59%82.74%77.55%60.6%
Return on Equity (ROE)8.04%6.32%3.02%0.07%-12.28%10.38%-0.03%-3.48%4.56%3.99%
Return on Assets (ROA)3.03%2.15%0.99%0.02%-3.72%2.66%-0.01%-0.68%0.94%0.92%
Equity / Assets35.51%32.35%33.1%31.46%28.99%23.07%19.37%19.74%21.56%24.77%
Book Value / Share33.6529.7528.3428.0825.0326.4220.3921.0723.4426.11
Debt / Equity0.25x0.26x0.19x0.20x0.23x0.31x0.40x0.40x0.37x0.33x
Revenue Growth14%-2.04%2.21%15.14%-12.18%21.26%2.45%2.6%-0.2%-2.67%

PRA SEC Filings & Documents

ProAssurance Corporation (PRA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Feb 23, 2026·SEC

Material company update

Dec 8, 2025·SEC

10-K Annual Reports

4
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 24, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

PRA Frequently Asked Questions

ProAssurance Corporation (PRA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

ProAssurance Corporation (PRA) saw revenue decline by 2.7% over the past year.

Yes, ProAssurance Corporation (PRA) is profitable, generating $50.9M in net income for fiscal year 2025 (4.6% net margin).

Dividend & Returns

ProAssurance Corporation (PRA) has a return on equity (ROE) of 4.0%. This is below average, suggesting room for improvement.

Industry Metrics

ProAssurance Corporation (PRA) has a combined ratio of 93.4%. A ratio below 100% indicates underwriting profitability.

Explore More PRA

ProAssurance Corporation (PRA) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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