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Accelerant Holdings (ARX) 10-Year Financial Performance & Capital Metrics

ARX • • Insurance & Managed Care
Financial ServicesInsurance BrokersSpecialty & Wholesale Insurance BrokersDigital Risk Exchange Platforms
AboutAccelerant Holdings, together with its subsidiaries, operate a data-driven risk exchange that connects selected specialty insurance underwriters with risk capital partners. The Exchange Services segment consists of risk exchange, its operating platform that incorporates various technology, data ingestion, and agency operations that serve the needs of its members and risk capital partners. Its Risk capital partners write premiums directly through the Risk Exchange pay us a fixed-percentage, volume-based fee for sourcing, managing, and monitoring the business they write. The MGA Operations segment includes the fees earned by members, predominantly for originating and underwriting a portfolio of insurance policies, reduced by the expenses associated with providing services. The Underwriting segment is involved in underwriting insurance policies and assumption of reinsurance policies issued or accepted by consolidated insurance companies. Its Underwriting segment is a strategic asset that enables access to portfolio for current and prospective risk capital partners. The activities of insurance companies include property and casualty insurance, policy issuance, and reinsurance arrangements. The company focuses on small-to-medium sized commercial clients primarily in the United States, Europe, Canada, and the United Kingdom. The company was founded in 2018 and is based in Grand Cayman, the Cayman Islands.Show more
  • Revenue $585M +79.6%
  • Combined Ratio 94.49% -16.7%
  • Net Income $27M +155.7%
  • Return on Equity 7.62% +149.7%
  • Medical Cost Ratio 42.54% +6.3%
  • Operating Margin 5.51% +140.9%
  • Net Margin 4.65% +131.0%
  • ROA 0.55% +133.7%
  • Equity / Assets 7.01% -8.7%
  • Book Value per Share 2.14 +23.5%
  • Tangible BV/Share 1.40 +39.5%
  • Debt/Equity 0.28 -32.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Profitable underwriting: 94.5% combined ratio
  • ✓Low loss ratio of 42.5%

✗Weaknesses

  • ✗Shares diluted 20.6% in last year
  • ✗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

10Y-
5Y-
3Y78.27%
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-

EPS CAGR

10Y-
5Y-
3Y-
TTM-

ROCE

10Y Avg-92.93%
5Y Avg-92.93%
3Y Avg-1.95%
Latest0.7%

Peer Comparison

Digital Risk Exchange Platforms
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ARXAccelerant Holdings1.76B15.37109.7979.61%-170.42%-199.4%42.65%0.28

Profit & Loss

Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+103.2M213.1M325.5M584.64M
Revenue Growth %-1.06%0.53%0.8%
Medical Costs & Claims+39.7M134.5M130.2M248.7M
Medical Cost Ratio %----
Gross Profit+63.5M78.6M195.3M335.94M
Gross Margin %----
Gross Profit Growth %-0.24%1.48%0.72%
Operating Expenses+83.5M162.9M239.2M303.7M
OpEx / Revenue %----
Depreciation & Amortization1.6M5.8M14.5M26.6M
Combined Ratio %----
Operating Income+-20M-84.3M-43.9M32.24M
Operating Margin %----
Operating Income Growth %--3.21%0.48%1.73%
EBITDA+-18.4M-78.5M-29.4M58.84M
EBITDA Margin %----
Interest Expense2.9M4.2M10.9M19.1M
Non-Operating Income-2.9M-4.2M-10.9M-19.1M
Pretax Income+-20M-84.3M-43.9M32.24M
Pretax Margin %----
Income Tax+4.3M11.3M20.2M9.1M
Effective Tax Rate %----
Net Income+-21.5M-91.7M-48.8M27.2M
Net Margin %----
Net Income Growth %--3.27%0.47%1.56%
EPS (Diluted)+-0.10-0.55-0.290.14
EPS Growth %--4.54%0.47%1.48%
EPS (Basic)-0.13-0.55-0.290.16
Diluted Shares Outstanding216.67M165.6M165.6M199.66M

Balance Sheet

Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+1.16B2.2B3.74B6.09B
Asset Growth %-0.9%0.7%0.63%
Total Investment Assets+150M273.4M247.5M602.9M
Long-Term Investments146.9M260.5M239.5M538.1M
Short-Term Investments38.2M62.8M8M64.8M
Total Current Assets+003.28B5.25B
Cash & Equivalents301.9M446.2M775.4M1.23B
Receivables1000K1000K1000K1000K
Other Current Assets-909.5M-1.81B223.4M214.6M
Goodwill & Intangibles+59.3M93.1M120.6M147.6M
Goodwill12.6M18.3M20.7M30.9M
Intangible Assets46.7M74.8M99.9M116.7M
PP&E (Net)0000
Other Assets-206.2M-353.6M93M157.5M
Total Liabilities899.4M1.85B3.45B5.67B
Total Debt+49.9M100.5M120.3M121.4M
Net Debt-252M-345.7M-655.1M-1.1B
Long-Term Debt49.9M100.5M120.3M120.6M
Short-Term Debt000800K
Total Current Liabilities+00101.1M541.8M
Accounts Payable192.2M277.4M9.5M13.8M
Deferred Revenue30.2M84.5M00
Other Current Liabilities-296.6M-461M0425.5M
Deferred Taxes0000
Other Liabilities-49.9M-100.5M3.23B5.01B
Total Equity+256.1M350M286.7M427M
Equity Growth %-0.37%-0.18%0.49%
Shareholders Equity257.9M354.5M310.5M408.7M
Minority Interest-1.8M-4.5M-23.8M18.3M
Retained Earnings-69.5M-161.2M-210M-182.8M
Common Stock0000
Accumulated OCI8.1M-10.9M-7.5M-19.5M
Return on Equity (ROE)-0.08%-0.3%-0.15%0.08%
Return on Assets (ROA)-0.02%-0.05%-0.02%0.01%
Equity / Assets----
Debt / Equity0.19x0.29x0.42x0.28x
Book Value per Share1.182.111.732.14
Tangible BV per Share----

Cash Flow

Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+112.7M65.7M289.9M785.5M
Operating CF Growth %--0.42%3.41%1.71%
Operating CF / Revenue %----
Net Income-24.4M-96.4M-64.1M22.4M
Depreciation & Amortization1.6M5.8M14.5M26.6M
Stock-Based Compensation004.8M8.4M
Deferred Taxes-1.7M-5.8M300K-40.9M
Other Non-Cash Items9.5M4.2M-22.1M-32.1M
Working Capital Changes127.7M157.9M356.5M801.1M
Cash from Investing+-132.5M-147.5M-11.7M-380.1M
Capital Expenditures-14.7M-26.7M-32.6M-34.4M
Acquisitions-21.2M-11.2M2.2M-4.8M
Purchase of Investments-125.4M-263.5M-122M-557.6M
Sale/Maturity of Investments1000K1000K1000K1000K
Other Investing-100K600K-100K-1.3M
Cash from Financing+233.7M254.7M10.3M110.3M
Dividends Paid0000
Share Repurchases0000
Stock Issued30.9M000
Debt Issuance (Net)1000K1000K1000K-700K
Other Financing0-1.4M-8.4M-3.5M
Net Change in Cash+216.1M158.3M291.8M497.4M
Exchange Rate Effect1000K-1000K1000K-1000K
Cash at Beginning85.8M325.7M484M775.8M
Cash at End301.9M484M775.8M1.27B
Free Cash Flow+98M39M257.3M751.1M
FCF Growth %--0.6%5.6%1.92%
FCF Margin %----
FCF per Share0.450.241.553.76

Key Ratios

Metric2021202220232024
Combined Ratio119.38%139.56%113.49%94.49%
Medical Cost Ratio38.47%63.12%40%42.54%
Return on Equity (ROE)-8.4%-30.26%-15.33%7.62%
Return on Assets (ROA)-1.86%-5.47%-1.64%0.55%
Equity / Assets22.16%15.92%7.67%7.01%
Book Value / Share1.182.111.732.14
Debt / Equity0.19x0.29x0.42x0.28x
Revenue Growth-106.49%52.75%79.61%

Frequently Asked Questions

Valuation & Price

Accelerant Holdings (ARX) has a price-to-earnings (P/E) ratio of 109.8x. This suggests investors expect higher future growth.

Growth & Financials

Accelerant Holdings (ARX) grew revenue by 79.6% over the past year. This is strong growth.

Accelerant Holdings (ARX) reported a net loss of $1.40B for fiscal year 2024.

Dividend & Returns

Accelerant Holdings (ARX) has a return on equity (ROE) of 7.6%. This is below average, suggesting room for improvement.

Industry Metrics

Accelerant Holdings (ARX) has a combined ratio of 94.5%. A ratio below 100% indicates underwriting profitability.

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