The company has aggressively strengthened its financial position, expanding its total equity base from $324.8 million in 2023Q4 to $1.1 billion by 2026Q1, which appears to provide a substantial buffer against underwriting volatility.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Total Assets | 2.32B | 2.53B | 2.23B | 1.81B | 1.8B | 1.18B | 941.31M | 802.61M | 832.86M | 842.26M | 670.06M | 636.99M | 602.21M | 526.32M | 338.29M | 214.82M | 140.95M | 137.89M | 131.99M | 39.99M |
| Asset Growth % | 55.18% | 13.39% | 23.13% | 0.44% | 53.23% | 25.02% | 17.28% | -3.63% | -1.12% | 25.7% | 5.19% | 5.77% | 14.42% | 55.58% | 57.48% | 52.41% | 2.22% | 4.47% | 230.03% | - |
| Total Investment Assets | 4M | 789.65M | 874.66M | 257.61M | 1.03B | 196.72M | 225.72M | 341.49M | 377.97M | 380.29M | 298.73M | 232.92M | 168.8M | 146.03M | 60.92M | 39.85M | 29.45M | 48.34M | 27.58M | 17.05M |
| Long-Term Investments | 2.82B | 758.39M | 795.54M | 23.58M | 544.2M | 122.82M | 151.25M | 267.72M | 323.48M | 321.93M | 250.65M | 201.96M | 149.66M | 129.8M | 44.83M | 39.85M | 29.45M | 34.84M | 27.58M | 17.05M |
| Short-Term Investments | 0 | 31.27M | 521.3M | 234.03M | 483.9M | 42.58M | 71.72M | 203.33M | 249.2M | 296.39M | 219.28M | 173.25M | 142.63M | 129.8M | 44.83M | 0 | 0 | 11.52M | 27.58M | 17.05M |
| Total Current Assets | 1.08B | 1.64B | 0 | 859.62M | 1.47B | 0 | 0 | 0 | 635.14M | 88.28M | 448.43M | 394.14M | 412.86M | 406.68M | 266.54M | 135.41M | 83.59M | 62.9M | 108.7M | 36.04M |
| Cash & Equivalents | 1.02B | 1.21B | 532.47M | 536.48M | 234.86M | 628.94M | 431.34M | 229.22M | 239.46M | 255.88M | 280.53M | 267.74M | 314.72M | 293.4M | 230.21M | 100.36M | 54.85M | 43.45M | 81.06M | 15.73M |
| Receivables | 1.33B | 348.72M | 615.49M | 547.79M | 751.74M | 155.83M | 169.59M | 165.07M | 0 | 0 | 1.65M | 1.39M | 1.06M | 1.13M | 375K | 408K | 6M | 5.08M | 5.53M | 3.26M |
| Other Current Assets | 0 | 3.75M | -1.77B | 770.5M | 751.29M | -856.57M | -711.39M | -617.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 202.21M | 62.41M | 5.21M | 7.66M | 10.58M | 10.64M | 3.57M | 4.19M | 4.8M | 5M | 4.9M | 18.6M | 15.01M | 14.07M | 10.03M | 161K | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 161K | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 62.41M | 5.21M | 7.66M | 10.58M | 10.64M | 3.57M | 4.19M | 4.8M | 5M | 4.9M | 18.6M | 15.01M | 14.07M | 10.03M | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 28.94M | 31.55M | 30.66M | 18.69M | 16.44M | 16.77M | 15.18M | 13.34M | 12.46M | 11.37M | 11.79M | 12.29M | 13.13M | 10.85M | 10.5M | 7.75M | 399K | 267K | 36K |
| Other Assets | 136.57M | 32.97M | -832.29M | 1.19B | -2K | -149.89M | -171.59M | -287.1M | -3.59M | -338.77M | -250.65M | -220.56M | -164.68M | -143.87M | -54.86M | -39.85M | -29.45M | -34.84M | -27.58M | -17.09M |
| Total Liabilities | 1.43B | 1.41B | 1.76B | 1.39B | 1.55B | 762.4M | 740.18M | 617.07M | 651.42M | 648.29M | 426.32M | 399.26M | 419.63M | 365.8M | 217.03M | 150.99M | 94.32M | 92.51M | 94.6M | 25.66M |
| Total Debt | 67.67M | 67.88M | 186.44M | 209.9M | 212.41M | 62.71M | 184.28M | 173.96M | 250.15M | 237.84M | 138.86M | 129.43M | 129.54M | 126.93M | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -950.13M | -1.14B | -346.03M | -326.57M | -22.45M | -566.24M | -247.07M | -55.26M | 10.69M | -18.05M | -141.67M | -138.31M | -185.18M | -166.47M | -230.21M | -100.36M | -54.85M | -43.45M | -81.06M | -15.73M |
| Long-Term Debt | 67.67M | 31.88M | 185.25M | 208.49M | 211.67M | 45.47M | 156.47M | 163.63M | 250.15M | 237.84M | 138.86M | 129.43M | 125.89M | 126.93M | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 36M | 0 | 0 | 1.16M | 15M | 23.75M | 9.75M | 0 | 89.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 42.84M | 1.32B | 0 | 296.25M | 26.97M | 0 | 0 | 0 | 14K | 90M | 3.29M | 6.07M | 218K | 543K | 8.81M | 4.96M | 310K | 167K | 4.7M | 1.89M |
| Accounts Payable | 0 | 29.34M | 22.98M | 12.92M | 26.25M | 23.34M | 87K | 76K | 14K | 15K | 3.29M | 1.08M | 218K | 4.66M | 1.38M | 0 | 0 | 0 | 6.14M | 1.89M |
| Deferred Revenue | 576.87M | 662.63M | 0 | 7.7M | 0 | 0 | 0 | 0 | -91.3M | 0 | 2.51M | 4.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -534.03M | 580.31M | -47.3M | 246.8M | -15.71M | -55.99M | -47.8M | -20.4M | -14K | -90M | -5.8M | -6.07M | -218K | -9.25M | -4.46M | -3.7M | -2.38M | -2.91M | -1.53M | -2.1M |
| Deferred Taxes | 12.79M | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.07B | 57.54M | -188.08M | 1.18B | 1.34B | -57.24M | -168.44M | -167.7M | 0 | 410.45M | 0 | 0 | 290.09M | 238.32M | 208.22M | 146.03M | 94.01M | 92.35M | 89.89M | 0 |
| Total Equity | 1.17B | 1.11B | 469.04M | 423.32M | 254.81M | 414.46M | 201.14M | 185.54M | 181.44M | 193.97M | 243.75M | 237.72M | 182.59M | 160.52M | 121.25M | 63.83M | 46.63M | 45.38M | 37.39M | 14.34M |
| Equity Growth % | 409.28% | 137.64% | 10.8% | 66.14% | -38.52% | 106.06% | 8.4% | 2.26% | -6.46% | -20.42% | 2.53% | 30.2% | 13.75% | 32.39% | 89.96% | 36.89% | 2.76% | 21.35% | 160.8% | - |
| Shareholders Equity | 1.09B | 1.04B | 453.33M | 324.84M | 162.6M | 323.37M | 201.14M | 185.54M | 181.44M | 193.97M | 243.75M | 237.72M | 182.59M | 160.52M | 121.25M | 63.83M | 46.63M | 45.38M | 37.39M | 14.34M |
| Minority Interest | 88.68M | 73.57M | 15.71M | 98.48M | 92.21M | 91.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 679.72M | 611.51M | 331.79M | 238.44M | 172.48M | 246.79M | 199.59M | 183.37M | 182.89M | 189.41M | 232.96M | 215.63M | 161.45M | 110.44M | 55.76M | 33.99M | 28.07M | 24.52M | 13.61M | 955K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.38M |
| Accumulated OCI | -4.54M | 1.46M | -749K | -3.16M | -9.89M | 498K | 1.54M | 2.18M | -1.45M | 4.57M | 2.64M | -1.79M | 666K | 1.11M | 1.62M | 208K | -42K | -306K | 0 | 0 |
| Return on Equity (ROE) | 30.81% | 37.76% | 24.64% | 23.31% | -17.49% | 0.6% | 14.27% | 14.48% | 9.44% | -3.15% | 12.06% | 31.34% | 36.53% | 46.54% | 32.59% | 18.04% | 11.79% | 26.36% | 48.93% | 7.09% |
| Return on Assets (ROA) | 12.68% | 12.57% | 5.44% | 4.37% | -3.93% | 0.18% | 3.16% | 3.25% | 2.12% | -0.91% | 4.44% | 10.63% | 11.11% | 15.17% | 10.9% | 5.6% | 3.89% | 8.09% | 14.72% | 2.54% |
| Equity / Assets | 50.58% | 44.08% | 21.03% | 23.37% | 14.13% | 35.22% | 21.37% | 23.12% | 21.79% | 23.03% | 36.38% | 37.32% | 30.32% | 30.5% | 35.84% | 29.71% | 33.08% | 32.91% | 28.33% | 35.85% |
| Debt / Equity | 0.06x | 0.06x | 0.40x | 0.50x | 0.83x | 0.15x | 0.92x | 0.94x | 1.38x | 1.23x | 0.57x | 0.54x | 0.71x | 0.79x | - | - | - | - | - | - |
| Book Value per Share | 91.09 | 86.52 | 36.97 | 38.33 | 28.90 | 48.31 | 20.75 | 18.12 | 22.98 | 22.67 | 22.42 | 20.94 | 15.61 | 14.43 | 12.36 | 8.57 | 6.99 | 6.31 | 6.16 | 2.77 |
| Tangible BV per Share | 91.09 | 81.68 | 36.56 | 37.64 | 27.70 | 47.07 | 20.38 | 17.71 | 22.37 | 22.08 | 21.97 | 19.30 | 14.33 | 13.17 | 11.33 | 8.55 | 6.99 | 6.31 | 6.16 | 2.77 |
Florida geographic concentration risk
As reported in recent financial statements, HCI has significantly bolstered its equity base from $324.8 million in 2023Q4 to $1.1 billion by 2026Q1, reflecting a consistent trajectory of capital accumulation that appears to strengthen the company's overall financial position against potential underwriting volatility.
The rapid growth in equity suggests that the company is successfully retaining earnings from its underwriting operations rather than distributing them aggressively. This trend indicates a strengthening balance sheet that provides a larger buffer to absorb potential catastrophic losses inherent in the Florida property market.
Based on quarterly filings, loss reserves have fluctuated significantly, peaking at $138.4 million in 2024Q4, which highlights the inherent sensitivity of the company's liability profile to seasonal weather events and the resulting claims activity within its core Florida residential insurance portfolio.
The variance in loss reserves suggests that the company's liability structure is highly reactive to external environmental factors. Investors should monitor whether the recent decline in loss ratios to 27.0% in 2026Q1 represents a sustainable improvement in risk selection or merely a period of favorable weather conditions.
According to the provided balance sheet data, HCI maintains a robust capital structure with total assets reaching $2.3 billion in 2026Q1, providing a substantial cushion that appears to insulate the firm from the insolvency risks that frequently impact smaller, less capitalized regional P&C insurers.
The company's ability to maintain such a significant asset base relative to its liabilities suggests a conservative approach to capital management. This capitalization level likely provides management with the flexibility to pursue opportunistic acquisitions or expand its technology-driven initiatives without requiring external financing.
As indicated by the company's historical financial data, the extreme reliance on the Florida residential market remains the primary structural risk, as any regulatory shift or catastrophic event in this specific region could disproportionately impact the company's solvency and long-term underwriting profitability.
While the balance sheet appears strong, the lack of geographic diversification means that the firm's fortunes are inextricably linked to Florida's legislative and environmental landscape. This concentration warrants further investigation into how the company's internal reinsurance subsidiary, Claddaugh, might mitigate or exacerbate these localized risks during extreme events.
Quick answers to the most common questions about buying HCI stock.
As of 2025, HCI Group, Inc. (HCI) had total assets of $2.53B including $1.64B in current assets.
HCI Group, Inc. (HCI) carries total debt of $67.9M, offset by $1.24B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
HCI Group, Inc. (HCI) has total shareholders' equity (book value) of $1.04B ($86.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
HCI Group, Inc. (HCI) reported a current ratio of 1.24x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.