The company's financial position remains precarious, with total liabilities of $597.0M significantly exceeding total assets of $392.8M, resulting in a negative equity balance of -$121.3M as of 2026Q1.
| Total Assets | 392.81M | 414.86M | 397.65M | 354.89M | 321.35M | 270.29M | 185.84M | 64.63M | 34.8M | 16.71M | 8.69M |
| Asset Growth % | 41.35% | 4.33% | 12.05% | 10.44% | 18.89% | 45.45% | 187.55% | 85.72% | 108.29% | 92.15% | - |
| Total Investment Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 73.29M | 88.63M | 103.89M | 75.94M | 73.59M | 74.7M | 65.12M | 35.76M | 23.78M | 8.56M | 6.81M |
| Cash & Equivalents | 25.65M | 34.39M | 57.97M | 44.05M | 30.39M | 30.48M | 26.24M | 15.26M | 19.01M | 5.37M | 4.08M |
| Receivables | 286.35M | 50.69M | 45.92M | 31.89M | 43.21M | 44.22M | 38.88M | 20.5M | 4.77M | 1.83M | 2.73M |
| Other Current Assets | -135.65M | 3.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 148.46M | 39.7M | 25.08M | 17.27M | 4.49M | 2.8M | 549K | 445K | 248K | 216.47K | 47.1K |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 44.06M | 39.7M | 25.08M | 17.27M | 4.49M | 2.8M | 549K | 445K | 248K | 216.47K | 47.1K |
| PP&E (Net) | 55.18M | 55.64M | 61.52M | 68.72M | 79.43M | 57.59M | 39.16M | 9.54M | 7.58M | 6.85M | 1.44M |
| Other Assets | 8.84M | 14.53M | 13.69M | 11.76M | 8.53M | 9.53M | 7.64M | 3.34M | 1.24M | 1.09M | 403.74K |
| Total Liabilities | 597M | 577.65M | 358.58M | 338.11M | 354.98M | 339.48M | 224.24M | 95.64M | 60M | 57.84M | 32.93M |
| Total Debt | 57.82M | 352.29M | 153.38M | 143.22M | 165.16M | 174.96M | 119.04M | 46.16M | 48.45M | 48.66M | 29.37M |
| Net Debt | 32.17M | 317.9M | 95.41M | 99.17M | 134.77M | 144.49M | 92.81M | 30.9M | 29.44M | 43.29M | 25.29M |
| Long-Term Debt | 48.78M | 289.46M | 82.25M | 67.56M | 86.71M | 118.36M | 79.41M | 42.16M | 45.95M | 48.16M | 29.07M |
| Short-Term Debt | 9.04M | 2.99M | 16.6M | 18.27M | 13.5M | 9.27M | 6.7M | 4M | 2.5M | 500K | 300K |
| Total Current Liabilities | 55.64M | 11.66M | 16.6M | 18.27M | 13.5M | 9.27M | 6.7M | 4M | 2.5M | 500K | 300K |
| Accounts Payable | 34.44M | 33.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -153.52M | -33.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 492.58M | 209.1M | 186.73M | 167.79M | 143.26M | 115.91M | 71M | 26.68M | 11.02M | 8.12M | 2.81M |
| Total Equity | -204.19M | -162.79M | 39.08M | 16.79M | -33.62M | -69.19M | -38.4M | -31.01M | -25.2M | 2.16M | 1.05M |
| Equity Growth % | -8823.17% | -516.59% | 132.79% | 149.92% | 51.4% | -80.16% | -23.86% | -23.03% | -1267.99% | 104.64% | - |
| Shareholders Equity | -121.27M | -95.5M | 43.89M | 56.55M | 10.67M | -14.02M | -4.88M | -9.01M | 82.59M | -41.13M | -24.24M |
| Minority Interest | -82.91M | -67.28M | -4.81M | -39.77M | -44.29M | -55.17M | -33.53M | -22M | -107.8M | 43.29M | 25.29M |
| Retained Earnings | -128.47M | -133.36M | -15.4M | -47.06M | -60.57M | -60.67M | -34.61M | -23.81M | -6.58M | -41.13M | -24.24M |
| Common Stock | 356K | 366K | 373K | 380K | 374K | 370K | 367K | 362K | 362K | 123.4M | 72.72M |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25.2M | -41.13M | -24.24M |
| Return on Equity (ROE) | -18.18% | - | 108.93% | 84.24% | - | - | - | - | - | 540.24% | 447.87% |
| Return on Assets (ROA) | 7.37% | 6.85% | 8.09% | 4.18% | 0.19% | 2.37% | 7.42% | 7.18% | -34.57% | 68.32% | 54.32% |
| Equity / Assets | -51.98% | -39.24% | 9.83% | 4.73% | -10.46% | -25.6% | -20.67% | -47.98% | -72.43% | 12.92% | 12.13% |
| Debt / Equity | -0.28x | - | 3.93x | 8.53x | - | - | - | - | - | 22.55x | 27.86x |
| Book Value per Share | -5.57 | -4.27 | 1.02 | 0.67 | -1.54 | -3.32 | -2.09 | -1.93 | -1.86 | 0.06 | 0.03 |
| Tangible BV per Share | -6.78 | -5.31 | 0.37 | -0.02 | -1.75 | -3.46 | -2.12 | -1.95 | -1.88 | 0.06 | 0.03 |
Negative equity and leverage
As reported in financial statements, Goosehead's equity position has deteriorated into negative territory, reaching -$121.3M in 2026Q1, which suggests that aggressive capital return strategies and accounting accruals are outpacing the company's ability to retain earnings within its core brokerage operations.
The persistent decline in shareholder equity warrants investigation, as it indicates that the company is effectively operating with a deficit of tangible capital. This trajectory may imply that management is prioritizing shareholder distributions over the maintenance of a robust capital buffer, potentially leaving the firm exposed to operational volatility.
Based on Goosehead's reported figures, total liabilities have consistently exceeded total assets since 2025Q2, with liabilities reaching $597.0M in 2026Q1, indicating a highly leveraged balance sheet structure that appears to lack the traditional capital cushion expected of a diversified insurance-related entity.
The structural imbalance between assets and liabilities suggests that the company's growth is being financed through mechanisms that do not bolster the equity base. Investors should monitor whether this leverage profile limits the company's flexibility to navigate potential regulatory shifts or downturns in the housing market.
According to recent SEC filings, loss reserves spiked to $48.9M in 2025Q4 before moderating to $3.2M in 2026Q1, a fluctuation that suggests significant variability in the company's underlying risk exposure and potential sensitivity to sudden changes in claims-paying requirements.
The sharp contraction in reserves during the most recent quarter may indicate a shift in risk management or a change in the underlying book of business. This volatility implies that the company's reserve adequacy is highly sensitive to external factors, necessitating a cautious interpretation of its short-term underwriting performance.
Analysis of the provided data reveals that the company's negative equity position, which has persisted since 2025Q1, represents a non-obvious risk that may limit the firm's ability to absorb unexpected losses or sustain its current pace of franchise expansion without external capital support.
While the brokerage model is inherently less capital-intensive than a traditional carrier, the sustained negative equity suggests a structural reliance on future commission streams that may not materialize as expected. This creates a vulnerability where any disruption to the renewal book could have outsized impacts on the company's solvency profile.
Quick answers to the most common questions about buying GSHD stock.
As of 2025, Goosehead Insurance, Inc (GSHD) had total assets of $414.9M including $88.6M in current assets.
Goosehead Insurance, Inc (GSHD) carries total debt of $352.3M, offset by $34.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Goosehead Insurance, Inc (GSHD) has total shareholders' equity (book value) of $-95.5M ($-4.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Goosehead Insurance, Inc (GSHD) reported a current ratio of 7.60x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.