Latest Ratios: P/E Ratio 8.5x · EV/EBITDA 6.6x · ROE 18.6%. (2015–2025 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.1B | $1.1B | $560M | $364M | $368M | $348M | $509M | $475M | — | — |
| Enterprise Value | $864M | $910M | $908M | $383M | $229M | $130M | $217M | $318M | $292M | — | — |
| P/E Ratio → | 8.52 | 8.68 | 7.97 | 5.05 | 4.35 | 9.10 | 13.69 | 21.43 | 18.49 | — | — |
| P/S Ratio | 2.03 | 2.12 | 2.02 | 1.17 | 0.92 | 1.06 | 1.13 | 2.04 | 2.28 | — | — |
| P/B Ratio | 1.51 | 1.54 | 1.62 | 1.04 | 0.85 | 0.92 | 0.88 | 1.63 | 1.58 | — | — |
| P/FCF | 9.80 | 10.23 | 5.24 | 2.90 | — | 2.89 | — | 25.00 | 4.61 | — | — |
| P/OCF | 9.71 | 10.14 | 5.07 | 2.85 | — | 2.84 | — | 23.77 | 4.56 | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.76 | 1.73 | 0.80 | 0.58 | 0.37 | 0.71 | 1.27 | 1.40 | — | — |
| EV / EBITDA | 6.61 | 6.96 | 6.69 | 2.98 | 2.41 | 2.53 | 6.81 | 11.68 | 10.82 | — | — |
| EV / EBIT | 6.79 | 7.16 | 6.86 | 3.04 | 2.61 | 2.84 | 7.36 | 12.53 | 11.40 | — | — |
| EV / FCF | — | 8.49 | 4.48 | 1.98 | — | 1.02 | — | 15.62 | 2.83 | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.2% | 58.2% | 43.8% | 44.7% | 42.2% | 33.0% | 27.9% | 29.0% | 30.7% | 22.1% | 100.0% |
| Operating Margin | 24.6% | 24.6% | 25.2% | 26.4% | 23.4% | 14.0% | 9.5% | 10.1% | 12.3% | 3.9% | 16.6% |
| Net Profit Margin | 24.6% | 24.6% | 25.7% | 24.8% | 22.6% | 13.5% | 8.8% | 9.4% | 12.3% | 3.9% | 17.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.6% | 18.6% | 22.6% | 24.4% | 21.5% | 11.8% | 7.7% | 7.7% | 17.0% | 50517.9% | 23.1% |
| ROA | 6.1% | 6.1% | 7.6% | 7.7% | 5.9% | 3.4% | 2.4% | 2.5% | 5.7% | 3270.4% | 8.7% |
| ROIC | 18.6% | 18.6% | 22.8% | 28.0% | 28.5% | 16.7% | 11.4% | 15.8% | 32.4% | 2851.5% | 14049.2% |
| ROCE | 12.0% | 12.0% | 11.5% | 10.5% | 6.5% | 3.8% | 2.7% | 2.8% | 5.9% | 50414.3% | 8.1% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 35.45 | 7.57 |
| Debt / EBITDA | — | — | 0.03 | 0.02 | 0.03 | 0.07 | 0.09 | 0.06 | 0.06 | 0.02 | 0.01 |
| Net Debt / Equity | — | -0.26 | -0.24 | -0.33 | -0.31 | -0.59 | -0.33 | -0.61 | -0.61 | 34.53 | 6.44 |
| Net Debt / EBITDA | -1.42 | -1.42 | -1.14 | -1.38 | -1.42 | -4.64 | -4.08 | -7.02 | -6.79 | 0.02 | 0.00 |
| Debt / FCF | — | -1.74 | -0.77 | -0.92 | — | -1.87 | — | -9.38 | -1.78 | 0.02 | — |
| Interest Coverage | — | — | — | — | 665.60 | 127.94 | 90.86 | — | — | — | — |
Net cash position: cash ($186M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.75 | 0.75 | 1.00 | 0.98 | 1571.36 | 8.59 | 3.59 | 5.61 | 8.33 | 0.08 | 0.15 |
| Quick Ratio | 0.75 | 0.75 | 1.00 | 2.30 | 1571.36 | 8.44 | 3.59 | 5.61 | 8.33 | 0.08 | 0.15 |
| Cash Ratio | 0.28 | 0.28 | 0.58 | 0.51 | 7.17 | 6.66 | 1.60 | 3.48 | 5.21 | 0.02 | 0.15 |
| Asset Turnover | — | 0.25 | 0.26 | 0.31 | 0.25 | 0.24 | 0.24 | 0.25 | 0.23 | 745.14 | 976.46 |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.3% | 4.2% | 2.5% | 0.3% | 2.8% | 4.4% | 1.3% | 2.1% | 0.9% | — | — |
| Payout Ratio | 36.3% | 36.3% | 19.6% | 1.5% | 11.4% | 34.4% | 16.0% | 45.9% | 16.0% | 163.1% | 43.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.7% | 11.5% | 12.5% | 19.8% | 23.0% | 11.0% | 7.3% | 4.7% | 5.4% | — | — |
| FCF Yield | 10.2% | 9.8% | 19.1% | 34.5% | — | 34.6% | — | 4.0% | 21.7% | — | — |
| Buyback Yield | 5.9% | 5.6% | 2.2% | 5.6% | 0.7% | 0.0% | 23.0% | 1.0% | 3.2% | — | — |
| Total Shareholder Yield | 10.2% | 9.9% | 4.7% | 5.9% | 3.4% | 4.4% | 24.3% | 3.1% | 4.0% | — | — |
| Shares Outstanding | — | $44M | $45M | $43M | $46M | $45M | $43M | $48M | $48M | $142M | $143M |
Includes 30+ ratios · 11 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IGIC stock.
International General Insurance Holdings Ltd.'s current P/E ratio is 8.5x. The historical average is 11.1x. This places it at the 38th percentile of its historical range.
International General Insurance Holdings Ltd.'s current EV/EBITDA is 6.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.
International General Insurance Holdings Ltd.'s return on equity (ROE) is 18.6%. The historical average is 16.7%.
Based on historical data, International General Insurance Holdings Ltd. is trading at a P/E of 8.5x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
International General Insurance Holdings Ltd.'s current dividend yield is 4.29% with a payout ratio of 36.3%.
International General Insurance Holdings Ltd. has 58.2% gross margin and 24.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Key Metrics
Top Statement Risk
Combined ratio deterioration from cat losses
Combined Ratio Deterioration Erodes Underwriting Margins
The combined ratio has widened by 12.3 percentage points from its recent low, rising to 85.3% in Q2 2026, with the loss ratio surging to 67.0% as reported in financial statements, suggesting a meaningful shift toward adverse claim experience.
The trend indicates the prior period's underwriting profitability, exemplified by a 73.0% combined ratio in Q3 2025, may have been unsustainably low and is normalizing toward a more challenging loss environment. The current 85.3% ratio, while still profitable, warrants close monitoring to determine if this reflects a cyclical hardening of claims frequency/severity or a more structural deterioration in risk selection. The sharp increase in the expense ratio to 18.2% in the latest quarter, following a spike to 38.9% in Q1 2026, further complicates the margin picture.
P/B Multiple Ignores Cash Deployment Anomaly
The P/B ratio, the primary valuation metric for insurers, is likely misapplied here because the balance sheet shows a negligible $1.0 million investment portfolio against $186.2 million in cash, obscuring the actual return on invested assets that should underpin book value.
For a P&C insurer, book value represents the capital backing reserves and should be invested in yield-generating assets. The reported anomaly where the investment portfolio is nearly zero prevents analysts from assessing the critical investment return component of ROE. Consequently, the market is applying a P/B multiple without visibility into how effectively management is deploying the float. A more appropriate adjustment would be to analyze the total return on capital (underwriting profit + investment income) relative to a normalized investment portfolio assumption, rather than relying on the static P/B ratio against a potentially misstated asset base.