Latest Ratios: P/E Ratio 29.5x · EV/EBITDA 13.6x · ROE 14.4%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $908M | $782M | $661M | $215M | $309M | $1.1B | — | — |
| Enterprise Value | $742M | $617M | $474M | $88M | $144M | $319M | — | — |
| P/E Ratio → | 29.47 | 13.55 | — | — | — | — | — | — |
| P/S Ratio | 1.67 | 1.67 | 1.78 | 1.03 | 2.58 | 12.01 | — | — |
| P/B Ratio | 2.08 | 1.79 | 1.81 | 0.56 | 0.52 | 1.27 | — | — |
| P/FCF | 7.56 | 85.98 | 14.01 | — | — | — | — | — |
| P/OCF | 98.74 | 85.05 | 13.92 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.32 | 1.27 | 0.42 | 1.20 | 3.50 | — | — |
| EV / EBITDA | 13.65 | 7.37 | — | — | — | — | — | — |
| EV / EBIT | 11.73 | 9.74 | — | — | — | — | — | — |
| EV / FCF | — | 67.75 | 10.03 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.9% | 50.9% | 20.0% | -39.8% | -49.6% | -16.1% | 32.2% | 100.0% |
| Operating Margin | 13.5% | 13.5% | -7.4% | -125.2% | -271.7% | -402.6% | -277.5% | -206.9% |
| Net Profit Margin | 12.3% | 12.3% | -10.9% | -130.2% | -278.5% | -407.2% | -274.2% | -239.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 14.4% | 14.4% | -10.8% | -55.8% | -45.8% | -112.2% | — | -70.0% |
| ROA | 3.3% | 3.3% | -2.6% | -17.7% | -20.8% | -28.3% | -24.6% | -48.7% |
| ROIC | 21.2% | 21.2% | -9.4% | -57.5% | -94.9% | -319.9% | — | -56.4% |
| ROCE | 6.9% | 6.9% | -3.2% | -47.2% | -30.7% | -32.5% | -24.9% | -47.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.03 | 0.04 | 0.05 | — | — | — |
| Debt / EBITDA | 0.63 | 0.63 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.38 | -0.51 | -0.33 | -0.28 | -0.90 | — | -0.20 |
| Net Debt / EBITDA | -1.98 | -1.98 | — | — | — | — | — | — |
| Debt / FCF | — | -18.23 | -3.97 | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -0.85 | -4.51 | — |
Net cash position: cash ($218M) exceeds total debt ($52M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.15 | 1.15 | 1.36 | 1.31 | 1.61 | 6.30 | — | 1.28 |
| Quick Ratio | 1.15 | 1.15 | 1.36 | 1.31 | 1.61 | 6.30 | — | 1.28 |
| Cash Ratio | 0.35 | 0.35 | 2.13 | 0.46 | 0.70 | 4.30 | — | 1.28 |
| Asset Turnover | — | 0.25 | 0.24 | 0.14 | 0.08 | 0.06 | 0.05 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 7.4% | — | — | — | — | — | — |
| FCF Yield | 13.2% | 1.2% | 7.1% | — | — | — | — | — |
| Buyback Yield | 1.6% | 1.9% | 2.4% | 0.8% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.6% | 1.9% | 2.4% | 0.8% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $26M | $25M | $24M | $23M | $15M | $3M | $484488 |
Includes 30+ ratios · 7 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying HIPO stock.
Hippo Holdings Inc.'s current P/E ratio is 29.5x. The historical average is 13.5x. This places it at the 100th percentile of its historical range.
Hippo Holdings Inc.'s current EV/EBITDA is 13.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.4x.
Hippo Holdings Inc.'s return on equity (ROE) is 14.4%. The historical average is -46.7%.
Based on historical data, Hippo Holdings Inc. is trading at a P/E of 29.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hippo Holdings Inc. has 50.9% gross margin and 13.5% operating margin. Operating margin between 10-20% is typical for established companies.
Hippo Holdings Inc.'s Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Reinsurance market hardening pressure
Metrics are mathematically derived from official filings.
Premium Multiple Prices in Turnaround Optionality
Based on reported figures, HIPO trades at 2.08x book and 15.72x trailing earnings, a premium to small-cap P&C peers that implies investors are pricing a sustained shift toward underwriting profitability rather than current return levels.
The 2.08x price-to-book multiple sits well above the 0.07 to 2.36 range of KINS and ROOT's 1.88x, which suggests the market is capitalizing the technology platform and MGA fee stream instead of the thin 1.6% to 2.2% recent ROE. A forward P/E of 25.84 against the trailing 15.72 implies earnings expected to compress, which warrants caution about whether the current premium reflects durable franchise quality or temporary quarterly strength.
Combined Ratio Oscillates Around Breakeven
As reported in financial statements, HIPO's combined ratio moved from 140.7% in 2024Q2 to 92.4% in 2026Q2 and 93.5% in 2026Q3, indicating underwriting profitability has only recently crossed below the 100% threshold on a sustained basis.
The recent 92 to 94 percent band is an improvement, yet the loss ratio swung between 37.8% and 124.3% over ten quarters, suggesting claim frequency and severity remain highly timing-dependent. The expense ratio falling from 56.6% in 2025Q4 to 46.9% in 2026Q3 appears to be doing much of the heavy lifting, which may indicate operating leverage rather than proven loss discipline.
Thin ROE Relies on Float Yield
Based on Hippo's reported figures, ROE of 1.9% in 2026Q3 and 2.2% in 2026Q2 remains modest, with underwriting margin of 6.5% to 7.6% contributing only a limited share of the total return on equity.
Decomposing the return suggests investment income on float is likely a meaningful contributor, given that underwriting margin alone at these levels would not generate double-digit equity returns. The ROA of 0.3% to 0.5% indicates a large asset base relative to earnings, which may leave the equity return sensitive to any reversal in combined ratio improvement.
Expense Ratio Compression Drives Recent Gains
According to reported quarterly figures, HIPO's expense ratio declined from 56.6% in 2025Q4 to 41.3% loss-equivalent territory alongside a 46.9% expense ratio in 2026Q3, suggesting scale benefits are beginning to offset acquisition costs.
The volatility in expense ratio, ranging from negative values in 2024Q4 and 2025Q3 to above 50 percent, makes the underlying trend hard to isolate and may reflect ceding commission timing rather than structural efficiency. Investors should monitor whether the expense ratio stabilizes in the mid-40s, which would support the operating leverage thesis.
Capital Base Supports Modest Underwriting Scale
Based on reported figures, HIPO's debt-to-equity of 0.10 to 0.12 and interest coverage of 8.42x to 18.33x in recent quarters suggest limited financial leverage, though premium-to-surplus must be evaluated separately from debt metrics.
Low debt-to-equity suggests the balance sheet is not heavily levered through borrowings, but insurance leverage is driven by premiums written against surplus rather than debt, a metric not directly disclosed here. Thin equity relative to reserves may leave limited headroom for an adverse loss cycle, warranting further investigation of capital adequacy.
Trails Specialty Peers on Return Metrics
As reported in peer data, HIPO's 1.9% recent ROE and 2.08x book multiple compare unfavorably with KINS's 46.6% ROIC and ROOT's 15.6% ROE, suggesting the market is paying for growth optionality rather than current returns.
The valuation premium over ROOT at 1.88x book appears hard to justify on ROE alone, implying investors are weighing the technology platform and MGA economics. Relative to KINS, which trades at a 7.10x P/E with near-zero ROE, HIPO's valuation may be pricing in a sustained margin expansion that has not yet appeared in the reported return data.
Trailing Combined Ratio Misleads on Volatility
Based on reported quarterly figures, the recent 92 to 94 percent combined ratio may obscure a loss ratio that swung from 124.3% to 37.8% within a year, making a single-quarter underwriting improvement an unreliable basis for valuation.
Relying on the latest combined ratio ignores reserve development and the timing of catastrophe losses, which may flatter results in quiet quarters. A more appropriate lens would be a multi-year average combined ratio adjusted for reinsurance cost changes, since a hardening reinsurance market could reverse the margin gains visible in 2026.