Heritage Insurance Holdings, Inc. (HRTG) Financial Ratios
13 years of historical data (2012–2024) · Financial Services · Insurance - Property & Casualty
EV/EBITDA
↑
6.25
↑+867% vs avg
5yr avg: 0.65
30Y Low0.6·High6.6
P/FCF
↑
11.26
↑+276% vs avg
5yr avg: 2.99
30Y Low1.7·High67.2
P/B Ratio
↑
3.03
↑+329% vs avg
5yr avg: 0.71
30Y Low0.4·High2.0
ROE
↑
24.1%
↓+474% vs avg
5yr avg: -6.4%
30Y Low-65%·High63%
Debt/EBITDA
↓
1.53
↓-72% vs avg
5yr avg: 5.50
30Y Low1.1·High12.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HRTG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Heritage Insurance Holdings, Inc. trades at 14.3x earnings, 6% above its 5-year average of 13.5x, sitting at the 88th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 7%. On a free-cash-flow basis, the stock trades at 11.3x P/FCF, 276% above the 5-year average of 3.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $888M | $371M | $171M | $47M | $163M | $284M | $387M | $384M | $483M | $464M | $662M |
| Enterprise Value | $576M | $60M | $-144280821 | $-73272113 | $-43918393 | $-28274774 | $257M | $283M | $514M | $431M | $425M |
| P/E Ratio → | 14.29 | 6.02 | 3.77 | — | — | 30.70 | 13.52 | 14.15 | — | 13.75 | 7.15 |
| P/S Ratio | 1.09 | 0.45 | 0.23 | 0.07 | 0.26 | 0.48 | 0.76 | 0.80 | 1.19 | 1.06 | 1.68 |
| P/B Ratio | 3.03 | 1.28 | 0.78 | 0.36 | 0.48 | 0.64 | 0.86 | 0.90 | 1.27 | 1.30 | 1.86 |
| P/FCF | 11.26 | 4.70 | 2.83 | — | 2.77 | 1.67 | 3.38 | 4.12 | 67.25 | 6.32 | 4.33 |
| P/OCF | 10.19 | 4.26 | 2.43 | — | 2.72 | 1.67 | 3.24 | 4.03 | 63.83 | 6.18 | 4.30 |
P/E links to full P/E history page with 30-year chart
HRTG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Heritage Insurance Holdings, Inc.'s enterprise value stands at 6.3x EBITDA, 867% above its 5-year average of 0.6x. The Financial Services sector median is 11.4x, placing the stock at a 45% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.07 | -0.20 | -0.11 | -0.07 | -0.05 | 0.50 | 0.59 | 1.26 | 0.98 | 1.08 |
| EV / EBITDA | 6.25 | 0.65 | -2.38 | — | — | -2.74 | 4.99 | 4.28 | 277.63 | 6.60 | 2.81 |
| EV / EBIT | 6.97 | 0.64 | -2.28 | — | — | -2.78 | 5.18 | 4.79 | 70.19 | 7.60 | 2.83 |
| EV / FCF | — | 0.76 | -2.38 | — | -0.74 | -0.17 | 2.24 | 3.04 | 71.52 | 5.87 | 2.79 |
HRTG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Heritage Insurance Holdings, Inc. earns an operating margin of 10.1%, below the Financial Services sector average of 21.2%. Operating margins have expanded from -25.1% to 10.1% over the past 3 years, signaling improving operational efficiency. ROE of 24.1% indicates solid capital efficiency, compared to the sector median of 9.4%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.9% | 21.9% | 19.3% | 0.8% | 9.2% | 15.5% | 25.4% | 32.9% | 29.8% | 26.4% | 49.8% |
| Operating Margin | 10.1% | 10.1% | 7.1% | -25.1% | -12.0% | 0.4% | 8.0% | 8.1% | -1.4% | 12.8% | 38.1% |
| Net Profit Margin | 7.5% | 7.5% | 6.2% | -23.3% | -11.8% | 1.6% | 5.6% | 5.7% | -0.3% | 7.7% | 23.4% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.1% | 24.1% | 25.8% | -65.1% | -19.0% | 2.1% | 6.6% | 6.7% | -0.3% | 9.5% | 30.3% |
| ROA | 2.7% | 2.7% | 2.0% | -7.1% | -3.7% | 0.5% | 1.5% | 1.5% | -0.1% | 3.6% | 12.7% |
| ROIC | — | — | — | -170.7% | -42.8% | 0.7% | 9.6% | 8.0% | -1.2% | 19.0% | 111.9% |
| ROCE | 3.6% | 3.6% | 2.3% | -7.6% | -3.7% | 0.1% | 2.2% | 2.3% | -0.4% | 6.4% | 20.9% |
HRTG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Heritage Insurance Holdings, Inc. carries a Debt/EBITDA ratio of 1.5x, which is manageable (63% below the sector average of 4.1x). The company holds a net cash position — cash of $453M exceeds total debt of $141M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 7.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.49 | 0.49 | 0.67 | 1.22 | 0.44 | 0.29 | 0.31 | 0.35 | 0.49 | 0.20 | — |
| Debt / EBITDA | 1.53 | 1.53 | 2.44 | — | — | 12.52 | 2.68 | 2.25 | 99.68 | 1.12 | — |
| Net Debt / Equity | — | -1.07 | -1.43 | -0.92 | -0.60 | -0.70 | -0.29 | -0.24 | 0.08 | -0.09 | -0.66 |
| Net Debt / EBITDA | -3.38 | -3.38 | -5.20 | — | — | -30.23 | -2.54 | -1.53 | 16.60 | -0.50 | -1.56 |
| Debt / FCF | — | -3.95 | -5.21 | — | -3.51 | -1.84 | -1.14 | -1.09 | 4.28 | -0.45 | -1.55 |
| Interest Coverage | 7.56 | 7.56 | 4.64 | -18.86 | -9.54 | 0.28 | 4.81 | 1.95 | -0.45 | 155.81 | — |
Net cash position: cash ($453M) exceeds total debt ($141M)
HRTG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — | — | — | 6.07 | 43.88 | 7.44 | 305.27 |
| Quick Ratio | — | — | — | — | — | — | — | 8.13 | 88.16 | 11.44 | 470.57 |
| Cash Ratio | — | — | — | — | — | — | — | 3.97 | 41.00 | 7.33 | 304.19 |
| Asset Turnover | — | 0.33 | 0.35 | 0.28 | 0.32 | 0.28 | 0.26 | 0.27 | 0.23 | 0.42 | 0.47 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HRTG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Heritage Insurance Holdings, Inc. returns 0.0% to shareholders annually — split between a 0.0% dividend yield and 0.0% buyback yield. The payout ratio of 0.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.0% | 0.0% | 0.0% | 10.1% | 4.1% | 2.4% | 1.8% | 1.7% | 1.7% | 1.5% | — |
| Payout Ratio | 0.1% | 0.1% | 0.0% | — | — | 73.5% | 24.3% | 23.5% | — | 20.1% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 16.6% | 26.5% | — | — | 3.3% | 7.4% | 7.1% | — | 7.3% | 14.0% |
| FCF Yield | 8.9% | 21.3% | 35.4% | — | 36.2% | 59.8% | 29.6% | 24.2% | 1.5% | 15.8% | 23.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 15.5% | 5.0% | 3.5% | 4.2% | 0.5% | 12.8% | 5.5% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 25.5% | 9.1% | 5.9% | 6.0% | 2.2% | 14.5% | 7.0% | 0.0% |
| Shares Outstanding | — | $31M | $26M | $26M | $28M | $28M | $29M | $26M | $27M | $30M | $30M |
Peer Comparison
Compare HRTG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HRTGYou | $888M | 14.3 | 6.3 | 11.3 | 21.9% | 10.1% | 24.1% | — | 1.5 |
 UPC | $2M | -0.0 | — | — | 35.3% | -16.3% | -7.2% | -7.8% | — |
 HCI | $2B | 6.2 | 2.0 | 4.5 | 73.2% | 47.7% | 37.8% | 679.0% | 0.2 |
 PLMR | $3B | 15.4 | 10.8 | 7.2 | 73.9% | 28.9% | 23.6% | 25.5% | 0.0 |
 NODK | $266M | — | — | 132.8 | — | — | — | — | — |
 ACGL | $34B | 8.1 | 6.9 | 5.5 | 37.2% | 25.0% | 19.5% | 15.4% | 0.5 |
 RLI | $5B | 11.2 | 8.7 | 7.4 | 29.8% | 27.5% | 24.4% | 22.8% | 0.2 |
 RNR | $13B | 5.3 | 3.4 | 3.5 | 40.7% | 31.5% | 14.6% | 16.0% | 0.6 |
 VRSK | $22B | 26.3 | 15.0 | 18.8 | 67.3% | 44.6% | 437.9% | 33.0% | 3.0 |
 IIIV | $486M | 39.3 | 13.4 | 129.5 | 55.7% | 1.9% | 3.5% | 0.6% | 0.2 |
 FAF | $7B | 11.7 | 7.4 | 9.4 | 95.6% | 11.1% | 11.9% | 10.7% | 1.8 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
See HRTG's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs HRTG Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare HRTG vs UPC
Side-by-side business, growth, and profitability comparison vs Universe Pharmaceuticals Inc..
Start ComparisonHRTG — Frequently Asked Questions
Quick answers to the most common questions about buying HRTG stock.
What is Heritage Insurance Holdings, Inc.'s P/E ratio?
Heritage Insurance Holdings, Inc.'s current P/E ratio is 14.3x. The historical average is 12.5x. This places it at the 88th percentile of its historical range.
What is Heritage Insurance Holdings, Inc.'s EV/EBITDA?
Heritage Insurance Holdings, Inc.'s current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.9x.
What is Heritage Insurance Holdings, Inc.'s ROE?
Heritage Insurance Holdings, Inc.'s return on equity (ROE) is 24.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.1%.
Is HRTG stock overvalued?
Based on historical data, Heritage Insurance Holdings, Inc. is trading at a P/E of 14.3x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Heritage Insurance Holdings, Inc.'s dividend yield?
Heritage Insurance Holdings, Inc.'s current dividend yield is 0.01% with a payout ratio of 0.1%.
What are Heritage Insurance Holdings, Inc.'s profit margins?
Heritage Insurance Holdings, Inc. has 21.9% gross margin and 10.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Heritage Insurance Holdings, Inc. have?
Heritage Insurance Holdings, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.