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Goosehead Insurance, Inc (GSHD) 10-Year Financial Performance & Capital Metrics

GSHD • • Insurance & Managed Care
Financial ServicesDiversified InsuranceMulti-Line InsuranceRegional Multi-Line Insurers
AboutGoosehead Insurance, Inc. operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates in two segments, Corporate Channel and Franchise Channel. It offers homeowner's, insurance, automotive, dwelling property insurance, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services. As of December 31, 2021, the company had 2,151 total franchises. Goosehead Insurance, Inc. was founded in 2003 and is headquartered in Westlake, Texas.Show more
  • Revenue $315M +20.4%
  • Combined Ratio 80.56% -10.4%
  • Net Income $30M +115.2%
  • Return on Equity 108.93% +29.3%
  • Medical Cost Ratio 54.99%
  • Operating Margin 19.44% +92.5%
  • Net Margin 9.67% +78.8%
  • ROA 8.09% +93.4%
  • Equity / Assets 9.83% +107.8%
  • Book Value per Share 1.02 +53.2%
  • Tangible BV/Share 0.37 +2019.3%
  • Debt/Equity 3.93 -54.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Profitable underwriting: 80.6% combined ratio
  • ✓Excellent 3Y average ROE of 96.6%
  • ✓Strong 5Y profit CAGR of 53.5%
  • ✓Low loss ratio of 55.0%

✗Weaknesses

  • ✗High debt to equity ratio of 3.9x
  • ✗Shares diluted 52.0% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 70.7x book value

* 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-
5Y32.34%
3Y27.62%
TTM24.81%

Profit (Net Income) CAGR

10Y-
5Y53.53%
3Y77.91%
TTM57.64%

EPS CAGR

10Y-
5Y12.63%
3Y64.62%
TTM52.93%

ROCE

10Y Avg27.37%
5Y Avg8.77%
3Y Avg9.02%
Latest16.25%

Peer Comparison

Regional Multi-Line Insurers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
GSHDGoosehead Insurance, Inc1.8B72.1062.1620.37%8.55%108.93%3.93%3.93
ORIOld Republic International Corporation10.69B43.3213.3713.41%9.53%12.95%11.54%0.28
HIGThe Hartford Financial Services Group, Inc.36.49B130.8212.648.44%12.84%19.28%15.8%0.27
AIZNAssurant, Inc. 5.25% Subordinat1.03B20.171.396.7%6.75%14.74%100%0.41

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+31.48M42.71M60.15M77.49M117.01M151.31M209.39M261.28M314.5M
Revenue Growth %-0.36%0.41%0.29%0.51%0.29%0.38%0.25%0.2%
Medical Costs & Claims+024.54M000000172.94M
Medical Cost Ratio %---------
Gross Profit+31.48M18.17M60.15M77.49M117.01M151.31M209.39M261.28M141.56M
Gross Margin %---------
Gross Profit Growth %--0.42%2.31%0.29%0.51%0.29%0.38%0.25%-0.46%
Operating Expenses+26.76M-31.56M78.37M65.8M99.29M145.31M204.26M234.89M80.42M
OpEx / Revenue %---------
Depreciation & Amortization488.33K876.05K2.52M2.15M3.57M5.12M7.11M9.47M10.96M
Combined Ratio %---------
Operating Income+4.72M11.15M-18.22M11.69M17.72M6M5.13M26.39M61.14M
Operating Margin %---------
Operating Income Growth %-1.36%-2.63%1.64%0.52%-0.66%-0.15%4.14%1.32%
EBITDA+5.21M12.03M-15.7M13.83M21.29M11.12M12.24M35.86M72.09M
EBITDA Margin %---------
Interest Expense413.04K2.47M4.27M2.39M2.31M2.85M5M6.57M7.34M
Non-Operating Income-413.04K-3.54M-4.27M-2.39M-2.31M-2.85M-5M-6.57M7.1M
Pretax Income+4.72M8.68M-18.22M11.69M17.72M6M5.13M26.39M46.7M
Pretax Margin %---------
Income Tax+017.91M449K1.3M-1.03M-2.29M2.5M2.69M-2.41M
Effective Tax Rate %---------
Net Income+4.72M8.68M-8.9M3.57M9.29M5.4M565K14.14M30.43M
Net Margin %---------
Net Income Growth %-0.84%-2.03%1.4%1.6%-0.42%-0.9%24.03%1.15%
EPS (Diluted)+0.130.25-0.660.640.510.260.030.371.16
EPS Growth %-0.91%-3.66%1.97%-0.2%-0.49%-0.88%11.33%2.14%
EPS (Basic)0.390.71-0.660.700.550.280.030.591.23
Diluted Shares Outstanding35M35M13.55M16.1M18.38M20.81M21.77M25.2M38.3M

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+8.69M16.71M34.8M64.63M185.84M270.29M321.35M354.89M397.65M
Asset Growth %-0.92%1.08%0.86%1.88%0.45%0.19%0.1%0.12%
Total Investment Assets+-7.21M-9.65M-1.96M000000
Long-Term Investments-7.21M-9.65M-1.96M000000
Short-Term Investments000000000
Total Current Assets+6.51M8.14M22.84M00071.95M81.74M0
Cash & Equivalents3.78M4.95M18.64M14.34M24.91M28.53M28.74M41.96M54.28M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets422.53K418K0-36.82M-67.5M-77.53M00-108.34M
Goodwill & Intangibles+47.1K216.47K248K445K549K2.8M4.49M17.27M25.08M
Goodwill000000000
Intangible Assets47.1K216.47K248K445K549K2.8M4.49M17.27M25.08M
PP&E (Net)1.44M6.85M7.58M9.54M39.16M57.59M79.43M68.72M61.52M
Other Assets-1.49M-7.06M4.14M-9.99M-39.71M-60.39M-155.32M13.14M-86.6M
Total Liabilities32.93M57.84M60M95.64M224.24M339.48M354.98M338.11M358.58M
Total Debt+29.37M48.66M48.45M46.16M119.04M174.96M165.16M143.22M153.38M
Net Debt25.59M43.71M29.81M31.82M94.13M146.44M136.42M101.26M99.11M
Long-Term Debt29.07M48.16M45.95M42.16M79.41M118.36M86.71M67.56M82.25M
Short-Term Debt300K500K2.5M4M3.5M4.38M6.88M9.38M10.06M
Total Current Liabilities+2.78M4.74M-95.44M00037.13M40.89M0
Accounts Payable928.94K2.21M4.35M5.96M9.42M14.95M17.6M16.4M26.58M
Deferred Revenue755K1.06M530K2.77M4.23M6.05M6.03M03.27M
Other Current Liabilities-2.78M-4.74M-9.08M-26.09M-81.93M-131.23M6.03M6.22M-206.6M
Deferred Taxes-1000K-1000K-1000K0001000K00
Other Liabilities-29.07M-48.16M-45.95M-62.19M-142.31M-208.25M166.18M172.27M-151.98M
Total Equity+1.05M2.16M-25.2M-31.01M-38.4M-69.19M-33.62M16.79M39.08M
Equity Growth %-1.05%-12.68%-0.23%-0.24%-0.8%0.51%1.5%1.33%
Shareholders Equity-24.24M-41.13M82.59M-9.01M-4.88M-14.02M10.67M56.55M43.89M
Minority Interest25.29M43.29M-107.8M-22M-33.53M-55.17M-44.29M-39.77M-4.81M
Retained Earnings-24.24M-41.13M-6.58M-23.81M-34.61M-60.67M-60.57M-47.06M-15.4M
Common Stock72.72M123.4M362K362K367K370K374K380K373K
Accumulated OCI-24.24M-41.13M-25.2M000-33.62M00
Return on Equity (ROE)4.48%5.4%-----0.84%1.09%
Return on Assets (ROA)0.54%0.68%-0.35%0.07%0.07%0.02%0%0.04%0.08%
Equity / Assets---------
Debt / Equity27.86x22.55x-----8.53x3.93x
Book Value per Share0.030.06-1.86-1.93-2.09-3.32-1.540.671.02
Tangible BV per Share---------

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+4.4M13.54M10.28M21.24M24.64M35.44M36.03M50.76M71.54M
Operating CF Growth %-2.08%-0.24%1.07%0.16%0.44%0.02%0.41%0.41%
Operating CF / Revenue %---------
Net Income4.72M8.68M-18.67M10.38M18.75M8.3M2.63M14.14M49.11M
Depreciation & Amortization488.33K876.05K2.52M2.15M3.57M5.12M7.11M9.47M10.96M
Stock-Based Compensation2.49M2.23M26.96M1.53M4.75M7.29M19.64M23.99M27.97M
Deferred Taxes00-30K294K-306K-2.52M2.23M1.52M-3.75M
Other Non-Cash Items658.99K1.08M1.32M725K15.19M7.03M8.2M16.71M6.34M
Working Capital Changes-1.47M2.91M-1.83M6.17M-17.31M10.23M-3.77M-15.07M-19.09M
Cash from Investing+-696.39K-6.13M-2.18M-4.08M-10.33M-15.38M-12.57M-19.18M-12.42M
Capital Expenditures-675.72K-6.45M-2.24M-4.1M-9.97M-15.41M-10.13M-4.45M-979K
Acquisitions0000000-6.89M0
Purchase of Investments-41.57K-117.63K0000000
Sale/Maturity of Investments0042K000000
Other Investing-20.68K316.38K64K19K-358K32K-2.44M-7.83M-11.44M
Cash from Financing+-965.23K-6.24M5.59M-20.91M-3.33M-15.83M-23.55M-17.92M-45.2M
Dividends Paid0-25.52M-80.06M-18.74M-44.7M-60M000
Share Repurchases-28.96M-25.52M000000-63.18M
Stock Issued0086.92M325K5.04M4.59M6.13M9.9M12.23M
Debt Issuance (Net)1000K1000K-625K-1000K1000K1000K-1000K-1000K1000K
Other Financing-627K-342.23K-639K0-677K-666K-309K-10.94M-9.83M
Net Change in Cash+2.74M1.17M13.69M-3.75M10.98M4.24M-92K13.66M13.93M
Exchange Rate Effect000000000
Cash at Beginning1.04M3.78M4.95M19.01M15.26M26.24M30.48M30.39M44.05M
Cash at End3.78M4.95M18.64M15.26M26.24M30.48M30.39M44.05M57.97M
Free Cash Flow+3.73M7.09M8.03M17.14M14.28M20.04M23.42M38.6M70.56M
FCF Growth %-0.9%0.13%1.13%-0.17%0.4%0.17%0.65%0.83%
FCF Margin %---------
FCF per Share0.110.20.591.060.780.961.081.531.84

Key Ratios

Metric201620172018201920202021202220232024
Combined Ratio85%-16.43%130.29%84.92%84.86%96.03%97.55%89.9%80.56%
Medical Cost Ratio0%57.47%0%0%0%0%0%0%54.99%
Return on Equity (ROE)447.87%540.24%-----84.24%108.93%
Return on Assets (ROA)54.32%68.32%-34.57%7.18%7.42%2.37%0.19%4.18%8.09%
Equity / Assets12.13%12.92%-72.43%-47.98%-20.67%-25.6%-10.46%4.73%9.83%
Book Value / Share0.030.06-1.86-1.93-2.09-3.32-1.540.671.02
Debt / Equity27.86x22.55x-----8.53x3.93x
Revenue Growth-35.66%40.83%28.83%51.01%29.31%38.38%24.78%20.37%

Revenue by Segment

2018201920202021202220232024
Renewal Royalty Fees----77.35M107.52M138.94M
Renewal Royalty Fees Growth-----39.02%29.22%
Renewal Commissions----57.54M70.73M74.94M
Renewal Commissions Growth-----22.92%5.95%
Contingent Commissions----7.68M13.75M31.39M
Contingent Commissions Growth-----78.89%128.32%
New Business Royalty Fees----18.24M23.17M27.12M
New Business Royalty Fees Growth-----26.99%17.07%
New Business Commissions----24.13M23.41M24.61M
New Business Commissions Growth------2.96%5.11%
Agency Fees----10.91M8.17M8.13M
Agency Fees Growth------25.09%-0.57%
Initial Franchise Fees----10.85M11.24M6.62M
Initial Franchise Fees Growth-----3.55%-41.09%
Other Franchise Revenues----1.28M1.84M1.83M
Other Franchise Revenues Growth-----44.10%-0.65%
Interest Income1422K---1.4M1.44M932K
Interest Income1 Growth-----2.85%-35.41%
Commissions And Agency Fees36.7M-71.81M82.65M---
Commissions And Agency Fees Growth---15.10%---
Franchise--44.39M67.51M---
Franchise Growth---52.08%---
Franchise Revenue-30.5M-----
Franchise Revenue Growth-------
Franchise Fees Receivable-3.78M-----
Franchise Fees Receivable Growth-------

Frequently Asked Questions

Valuation & Price

Goosehead Insurance, Inc (GSHD) has a price-to-earnings (P/E) ratio of 62.2x. This suggests investors expect higher future growth.

Growth & Financials

Goosehead Insurance, Inc (GSHD) grew revenue by 20.4% over the past year. This is strong growth.

Yes, Goosehead Insurance, Inc (GSHD) is profitable, generating $30.3M in net income for fiscal year 2024 (9.7% net margin).

Dividend & Returns

Goosehead Insurance, Inc (GSHD) has a return on equity (ROE) of 108.9%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Goosehead Insurance, Inc (GSHD) has a combined ratio of 80.6%. A ratio below 100% indicates underwriting profitability.

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