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Tiptree Inc. (TIPT) 10-Year Financial Performance & Capital Metrics

TIPT • • Insurance & Managed Care
  • Revenue $2.04B +23.9%
  • Combined Ratio 92.69% -2.4%
  • Net Income $53M +282.5%
  • Return on Equity 8.65% +244.3%
  • Medical Cost Ratio 41.18% +12.8%
  • Operating Margin 7.31% +45.1%
  • Net Margin 2.61% +208.8%
  • ROA 0.99% +224.1%
  • Equity / Assets 11.53% +2.8%
  • Book Value per Share 17.32 +13.0%
  • Tangible BV/Share 8.03 +43.3%
  • Debt/Equity 0.65 -7.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Profitable underwriting: 92.7% combined ratio
  • ✓Strong 5Y profit CAGR of 23.8%
  • ✓Low loss ratio of 41.2%
  • ✓Healthy dividend yield of 3.7%
  • ✓Trading at only 1.0x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 3.1%
  • ✗Trading more than 30% below 52-week high

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

Price & Volume

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Growth Metrics

Revenue CAGR

10Y38.21%
5Y21.7%
3Y19.39%
TTM2.9%

Profit (Net Income) CAGR

10Y-
5Y23.79%
3Y11.86%
TTM24.28%

EPS CAGR

10Y-
5Y21.06%
3Y4.78%
TTM13.4%

ROCE

10Y Avg0.67%
5Y Avg1.29%
3Y Avg1.99%
Latest2.76%

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+392.33M506.42M579.8M625.83M765.13M810.3M1.2B1.4B1.65B2.04B
Revenue Growth %3.89%0.29%0.14%0.08%0.22%0.06%0.48%0.16%0.18%0.24%
Medical Costs & Claims+000152.09M170.68M236.9M327.01M452.61M601.79M841.21M
Medical Cost Ratio %----------
Gross Profit+440.12M506.42M579.8M473.73M594.45M573.4M873.5M945.15M1.05B1.2B
Gross Margin %----------
Gross Profit Growth %4.48%0.15%0.14%-0.18%0.25%-0.04%0.52%0.08%0.11%0.15%
Operating Expenses+397.88M483.36M593.59M493.53M565.31M612.25M808.16M891.14M964.18M1.05B
OpEx / Revenue %----------
Depreciation & Amortization46.72M28.54M29.99M12.6M13.57M17.58M24.44M22.97M23.47M21.65M
Combined Ratio %----------
Operating Income+-5.55M23.06M-13.79M-19.8M29.14M-38.85M65.34M54.01M83.05M149.32M
Operating Margin %----------
Operating Income Growth %0.1%5.16%-1.6%-0.44%2.47%-2.33%2.68%-0.17%0.54%0.8%
EBITDA+41.17M51.6M16.2M-7.2M42.71M-21.27M89.78M76.98M106.52M170.97M
EBITDA Margin %----------
Interest Expense16.7M21.01M25.56M27.01M27.06M32.58M37.67M30.24M27.69M32.25M
Non-Operating Income-19.34M-47.09M-36.02M-27.01M-27.06M-32.58M-37.67M-30.24M-27.69M-32.25M
Pretax Income+-2.9M49.14M-3.33M-19.8M29.14M-38.85M65.34M54.01M83.05M149.32M
Pretax Margin %----------
Income Tax+-753K12.52M-12.56M-5.91M9.02M-13.63M21.29M50.45M43.06M61.65M
Effective Tax Rate %----------
Net Income+5.78M25.32M3.6M23.93M18.36M-29.16M38.13M-8.27M13.95M53.37M
Net Margin %----------
Net Income Growth %4.38%3.38%-0.86%5.64%-0.23%-2.59%2.31%-1.22%2.69%2.83%
EPS (Diluted)+0.170.780.110.690.50-0.741.130.100.331.30
EPS Growth %2.7%3.59%-0.86%5.27%-0.28%-2.48%2.53%-0.91%2.3%2.94%
EPS (Basic)0.170.790.120.690.53-0.741.150.100.341.44
Diluted Shares Outstanding33.2M31.77M37.31M34.72M34.58M33.86M33.69M35.53M37.62M37.93M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+2.5B2.89B1.99B1.86B2.2B3B3.6B4.04B5.14B5.69B
Asset Growth %-0.69%0.16%-0.31%-0.06%0.18%0.36%0.2%0.12%0.27%0.11%
Total Investment Assets+754.81M895.16M462.45M696.93M644.95M799.06M928.42M817.23M1.03B1.34B
Long-Term Investments224.76M194.78M207.98M406.54M490.57M500.97M715.93M697.76M870.92M1.22B
Short-Term Investments184.7M146.17M182.45M283.56M335.19M377.13M577.45M611.98M802.61M1.11B
Total Current Assets+88.18M133.07M142.24M1.02B000000
Cash & Equivalents69.4M63.01M110.67M86M133.12M136.92M175.72M538.07M468.71M320.07M
Receivables1000K01000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets000356.1M-1.3B-1.64B-2.12B-2.87B-3.82B-4.31B
Goodwill & Intangibles+186.11M178.25M155.58M143.68M155.88M332.21M331.69M345.05M365.75M352.18M
Goodwill92.77M92.77M91.56M91.56M99.15M179.24M179.1M186.61M206.16M206.71M
Intangible Assets93.34M85.48M64.02M52.12M56.74M152.97M152.59M158.44M159.59M145.47M
PP&E (Net)7.02M5.94M4.3M6.12M36.14M43.09M38.75M53.33M61.09M55.14M
Other Assets960.41M24.34M448.49M114.27M-682.59M-876.27M-1.09B-1.1B-1.3B-1.62B
Total Liabilities2.1B2.5B1.59B1.47B1.79B2.62B3.2B3.51B4.56B5.04B
Total Debt+673.21M793.01M346.08M354.08M368.94M364.16M387.75M262.4M407.81M428.68M
Net Debt603.81M730M235.41M268.08M235.83M227.24M212.03M-275.67M-60.9M108.61M
Long-Term Debt481.81M378.45M346.08M354.08M224.67M183.42M199.82M163.74M170.27M328.39M
Short-Term Debt191.4M414.56M00114.79M147.82M158.53M60.63M197.14M63.7M
Total Current Liabilities+959.96M1.19B631.44M241.79M000000
Accounts Payable142.92M139.82M151.25M129.16M213.84M375.85M415.38M424.53M675.22M529.06M
Deferred Revenue63.08M52.25M56.74M75.75M000000
Other Current Liabilities-335.67M-564.89M20.97M-56.86M-337.8M-542.35M-594.33M-527.9M-909.09M-599.83M
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Liabilities892.89M1.12B20.18M23.05M-381.07M-639.73M-804.12M-941.31M-1.02B-1.23B
Total Equity+397.69M390.14M396.77M399.26M411.42M373.54M400.18M533.57M576.57M656.77M
Equity Growth %-0.01%-0.02%0.02%0.01%0.03%-0.09%0.07%0.33%0.08%0.14%
Shareholders Equity312.84M293.43M300.08M387.1M398.06M356.14M382.95M397.37M416.87M457.7M
Minority Interest84.85M96.71M96.7M12.16M13.35M17.39M17.23M136.21M159.7M199.07M
Retained Earnings15.85M37.97M38.08M57.23M70.19M35.42M68.15M54.11M60.66M95.72M
Common Stock43K43K43K36K35K33K34K36K37K37K
Accumulated OCI-111K555K966K-2.06M1.7M5.67M-2.69M-39.43M-26.07M-27.75M
Return on Equity (ROE)0.01%0.06%0.01%0.06%0.05%-0.07%0.1%-0.02%0.03%0.09%
Return on Assets (ROA)0%0.01%0%0.01%0.01%-0.01%0.01%-0%0%0.01%
Equity / Assets----------
Debt / Equity1.69x2.03x0.87x0.89x0.90x0.97x0.97x0.49x0.71x0.65x
Book Value per Share11.9812.2810.6411.5011.9011.0311.8815.0215.3317.32
Tangible BV per Share----------

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-6.29M36.64M46.92M57.72M23.74M140.17M204.32M463.07M71.45M240.76M
Operating CF Growth %-1.07%6.83%0.28%0.23%-0.59%4.9%0.46%1.27%-0.85%2.37%
Operating CF / Revenue %----------
Net Income8.8M32.34M5.23M29.88M20.12M-25.23M44.05M3.56M40M87.67M
Depreciation & Amortization45.12M28.54M29.99M12.6M13.57M17.58M24.44M22.97M23.47M21.65M
Stock-Based Compensation2.36M2.58M6.56M6.66M6.36M8.12M11.13M9.71M8.28M17.72M
Deferred Taxes-19.55M6.45M-11.25M4.01M6.82M10.73M17.73M47.55M37.02M31.14M
Other Non-Cash Items1.1B1.74B1.61B1.51B1.96B3.1B3.79B2.34B-24.84M935.51M
Working Capital Changes-1.14B-1.78B-1.6B-1.5B-1.99B-2.98B-3.68B-1.96B-12.47M-852.94M
Cash from Investing+-215.12M-319.99M205.68M-109.11M-8.33M-123.49M-273.76M9.51M-244.67M-322.99M
Capital Expenditures-5.66M-7.16M-2.89M-3.75M-8.52M-6.69M-2.76M-10.73M-14.03M-4.03M
Acquisitions68.55M-102.27M-71.74M15.71M13.7M-4.81M258K-14.96M-19.73M0
Purchase of Investments-377.87M-269.89M-219.96M-327.62M-389.21M-1.49B-1.43B-1.2B-1.49B-955.3M
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Investing16.82M-145.81M203.4M15.61M-18.63M-17.52M-12.42M-28.01M-15.02M-6.48M
Cash from Financing+243.66M276.95M-194.41M-2M36.93M31.75M73.73M-115.19M113.41M6.29M
Dividends Paid-3.31M-3.19M-3.5M-4.78M-5.5M-5.57M-5.41M-7.78M-13.73M-24.82M
Share Repurchases-3.98M-43.75M-7.3M-14.11M-9.09M-13.89M-8.14M-1.73M00
Stock Issued000000098.43M00
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K1000K-1000K1000K1000K
Other Financing-1.06M195.94M-224.64M1.77M-4.11M-6.71M-3.65M13.18M-16.27M501K
Net Change in Cash+16.41M-6.39M47.66M-56.25M45.21M43.55M-5.07M346.4M-58.29M-76.3M
Exchange Rate Effect00-1000K-1000K-1000K-1000K-1000K-1000K1000K-355K
Cash at Beginning52.99M69.4M63.01M152.77M99.38M151.73M200.15M204.45M550.85M492.56M
Cash at End69.4M63.01M110.67M96.52M144.59M195.28M195.09M550.85M492.56M416.26M
Free Cash Flow+-11.95M29.48M44.03M53.98M15.22M133.47M201.55M452.35M57.42M236.72M
FCF Growth %-1.13%3.47%0.49%0.23%-0.72%7.77%0.51%1.24%-0.87%3.12%
FCF Margin %----------
FCF per Share-0.360.931.181.550.443.945.9812.731.536.24

Key Ratios

Metric2015201620172018201920202021202220232024
Combined Ratio101.41%95.45%102.38%103.16%96.19%104.79%94.56%96.14%94.96%92.69%
Medical Cost Ratio0%0%0%24.3%22.31%29.24%27.24%32.38%36.49%41.18%
Return on Equity (ROE)1.45%6.43%0.92%6.01%4.53%-7.43%9.86%-1.77%2.51%8.65%
Return on Assets (ROA)0.11%0.94%0.15%1.24%0.9%-1.12%1.16%-0.22%0.3%0.99%
Equity / Assets15.9%13.5%19.94%21.41%18.72%12.47%11.12%13.21%11.22%11.53%
Book Value / Share11.9812.2810.6411.511.911.0311.8815.0215.3317.32
Debt / Equity1.69x2.03x0.87x0.89x0.90x0.97x0.97x0.49x0.71x0.65x
Revenue Growth388.5%29.08%14.49%7.94%22.26%5.9%48.16%16.43%17.98%23.88%

Revenue by Segment

2014201520162017201820192020202120222024
Service and Administrative Fees---------341.46M
Service and Administrative Fees Growth----------
Service Contract Revenue-------163.58M210.82M294.5M
Service Contract Revenue Growth--------28.87%39.70%
Motor Club Revenue-------41.63M53.35M43.26M
Motor Club Revenue Growth--------28.13%-18.91%
Other Contract Revenue---------3.71M
Other Contract Revenue Growth----------
Vessels-----16.75M22.7M35.56M30.14M-
Vessels Growth------35.53%56.68%-15.24%-
Other contract revenue----7.84M7.32M6.13M17.78M5.92M-
Other contract revenue Growth------6.67%-16.26%190.26%-66.73%-
Asset management fee income----6.69M1.27M----
Asset management fee income Growth------81.07%----
Warranty coverage revenue----26.06M27.6M98.57M---
Warranty coverage revenue Growth-----5.91%257.19%---
Car club revenue----32.24M36.08M36.16M---
Car club revenue Growth-----11.89%0.23%---
Specialty Insurance---478.96M------
Specialty Insurance Growth----------
Mortgage---56.57M------
Mortgage Growth----------
Corporate and Other---36.52M------
Corporate and Other Growth----------
Asset Management278K13.05M13.11M9.74M------
Asset Management Growth-4593.53%0.51%-25.72%------
Insurance26.18M334.35M394.17M-------
Insurance Growth-1177.35%17.89%-------
Corporate And Eliminations--3.71M-------
Corporate And Eliminations Growth----------
Specialty Finance15.22M57.73M--------
Specialty Finance Growth-279.21%--------
Real Estate29.28M49.88M--------
Real Estate Growth-70.35%--------

Frequently Asked Questions

Valuation & Price

Tiptree Inc. (TIPT) has a price-to-earnings (P/E) ratio of 13.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Tiptree Inc. (TIPT) grew revenue by 23.9% over the past year. This is strong growth.

Yes, Tiptree Inc. (TIPT) is profitable, generating $50.6M in net income for fiscal year 2024 (2.6% net margin).

Dividend & Returns

Yes, Tiptree Inc. (TIPT) pays a dividend with a yield of 3.70%. This makes it attractive for income-focused investors.

Tiptree Inc. (TIPT) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Industry Metrics

Tiptree Inc. (TIPT) has a combined ratio of 92.7%. A ratio below 100% indicates underwriting profitability.

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