The company has significantly strengthened its financial position, growing its equity base from $471.3 million in 2023Q4 to $959.0 million by 2026Q1, effectively outpacing liability accumulation.
| Total Assets | 3.61B | 2.23B | 2.26B | 1.71B | 1.31B | 925.73M | 729.09M | 395.46M | 231.13M | 188.35M | 145.13M |
| Asset Growth % | 117.11% | -1.59% | 32.45% | 30.74% | 41.13% | 26.97% | 84.36% | 71.1% | 22.71% | 29.78% | - |
| Total Investment Assets | 4M | 1.35B | 987.72M | 689.58M | 553.64M | 465.94M | 820.3M | 456.63M | 147.39M | 125.5M | 0 |
| Long-Term Investments | 4.12B | 733.74M | 517.29M | 45.78M | 38.58M | 33.26M | 422.31M | 239.48M | 147.39M | 125.5M | 0 |
| Short-Term Investments | 1.41B | 618.28M | 470.43M | 643.8M | 515.06M | 432.68M | 397.99M | 217.15M | 122.22M | 101.91M | 0 |
| Total Current Assets | 1.47B | 559.8M | 0 | 0 | 1.15B | 789.42M | 585.1M | 303.76M | 164.94M | 142.66M | 9.76M |
| Cash & Equivalents | 56.54M | 106.89M | 80.44M | 51.55M | 68.11M | 50.28M | 33.54M | 33.12M | 9.53M | 10.78M | 9.76M |
| Receivables | 2.91B | 452.91M | 700.88M | 538.77M | 356.47M | 245.33M | 153.57M | 53.49M | 0 | 29.97M | 0 |
| Other Current Assets | -577.74M | -974.18M | -1.53B | -1.5B | 3.83M | 2.81M | 0 | 54.17M | 31.91M | 8.4M | 0 |
| Goodwill & Intangibles | 576.92M | 80.3M | 13.24M | 12.31M | 8.26M | 9.5M | 11.51M | 744K | 744K | 744K | 11.4M |
| Goodwill | 246.17M | 0 | 3.75M | 3.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 80.3M | 9.49M | 8.56M | 8.26M | 9.5M | 11.51M | 744K | 744K | 744K | 11.4M |
| PP&E (Net) | 2.3M | 2.55M | 429K | 373K | 603K | 527K | 739K | 845K | 947K | 827K | 920K |
| Other Assets | -1.56B | 849.19M | 1.73B | 1.65B | 111.45M | 93.03M | -8.6M | -4.58M | -149.08M | -127.07M | 123.06M |
| Total Liabilities | 2.65B | 1.28B | 1.53B | 1.24B | 921.7M | 531.57M | 365.38M | 176.91M | 139.96M | 109.94M | 16.97M |
| Total Debt | 297.43M | 7.09M | 0 | 52.6M | 36.4M | 3.47M | 0 | 0 | 19.08M | 17.09M | 16.97M |
| Net Debt | -56.54M | -99.8M | -80.44M | 1.05M | -31.71M | -46.81M | -33.54M | -33.12M | 9.55M | 6.31M | 7.22M |
| Long-Term Debt | 0 | 0 | 6.71M | 52.6M | 36.4M | 1.28M | 0 | 0 | 19.08M | 17.09M | 16.97M |
| Short-Term Debt | 0 | 927K | 1.05M | 52.6M | 36.4M | 904K | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 5.85M | 0 | 0 | 0 | 921.7M | 531.57M | 42.96M | 1.12M | 24.97M | 11.57M | 0 |
| Accounts Payable | 0 | 387.08M | 260.25M | 224.12M | 171.89M | 58.74M | 42.96M | 24.94M | 19.85M | 11.57M | 0 |
| Deferred Revenue | 0 | 632.23M | 741.69M | 597.1M | 471.31M | 226.35M | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 5.85M | -1.02B | -1B | -881.08M | 242.09M | 245.57M | 0 | -24.93M | -19.85M | -11.58M | 0 |
| Deferred Taxes | 10.84M | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 0 | 0 | 0 |
| Other Liabilities | 2.64B | 1.28B | 381.86M | 641.13M | 486.5M | 310.74M | 0 | 0 | 0 | 0 | 0 |
| Total Equity | 959.04M | 942.67M | 729.03M | 471.25M | 384.75M | 394.17M | 363.71M | 218.56M | 91.17M | 78.41M | 73.11M |
| Equity Growth % | 134.55% | 29.3% | 54.7% | 22.48% | -2.39% | 8.37% | 66.42% | 139.72% | 16.27% | 7.26% | - |
| Shareholders Equity | 959.04M | 942.67M | 729.03M | 471.25M | 384.75M | 394.17M | 363.71M | 218.56M | 91.17M | 78.41M | 73.11M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 441.86M | 422M | 262.22M | 144.64M | 87.71M | 69.95M | 39.96M | 33.86M | 275K | 6.92M | 3.59M |
| Common Stock | 3K | 3K | 3K | 3K | 3K | 3K | 3K | 2K | 2K | 2K | 0 |
| Accumulated OCI | -16.45M | -2.51M | -26.84M | -23.99M | -36.52M | 5.31M | 13.25M | 4.69M | -563K | 2.99M | 1.02M |
| Return on Equity (ROE) | 21.74% | 23.58% | 19.59% | 18.5% | 13.4% | 12.1% | 2.15% | 6.86% | 21.49% | 4.99% | 9.05% |
| Return on Assets (ROA) | 6.79% | 8.78% | 5.92% | 5.25% | 4.67% | 5.54% | 1.11% | 3.39% | 8.69% | 2.27% | 4.56% |
| Equity / Assets | 26.55% | 42.34% | 32.23% | 27.59% | 29.45% | 42.58% | 49.89% | 55.27% | 39.45% | 41.63% | 50.37% |
| Debt / Equity | 0.31x | 0.01x | - | 0.11x | 0.09x | 0.01x | - | - | 0.21x | 0.22x | 0.23x |
| Book Value per Share | 35.08 | 34.30 | 27.80 | 18.61 | 14.92 | 15.10 | 14.21 | 10.01 | 4.03 | 3.47 | 3.23 |
| Tangible BV per Share | 26.07 | 31.38 | 27.30 | 18.12 | 14.60 | 14.73 | 13.76 | 9.98 | 4.00 | 3.43 | 2.73 |
Reinsurance market capacity dependency
As reported in recent financial statements, Palomar’s equity base has grown from $471.3 million in 2023Q4 to $959.0 million by 2026Q1, reflecting a consistent trajectory of capital accumulation that supports the company's aggressive expansion into new specialty lines and fee-based fronting services.
The doubling of equity over the observed period suggests that the company is successfully retaining earnings to bolster its balance sheet against potential volatility. This strengthening capital position appears to provide the necessary cushion to support higher gross written premiums while maintaining a disciplined approach to net risk retention.
Based on the provided quarterly data, loss reserves have increased from $46.9 million in 2023Q4 to $87.1 million in 2026Q1, a trend that aligns with the company's rapid top-line growth and the strategic pivot toward longer-tail casualty insurance products.
The rise in reserves warrants close monitoring as the company shifts its business mix, as these liabilities are inherently more sensitive to inflationary pressures than the short-tail property lines that historically dominated the portfolio. Investors should interpret this growth as a necessary consequence of scaling, though the adequacy of these reserves remains subject to future loss development patterns.
According to the latest balance sheet figures, total assets reached $3.6 billion in 2026Q1 compared to $2.7 billion in liabilities, indicating that Palomar is maintaining a healthy capital buffer that allows for continued operational agility in a competitive specialty insurance market.
The widening gap between assets and liabilities suggests that the company is effectively managing its leverage profile despite the inherent risks of its catastrophe-exposed business model. This structural health appears to be a key factor in the company's ability to maintain its underwriting discipline while scaling its fronting platform.
As indicated by the company's financial disclosures, the reliance on third-party reinsurance to manage catastrophe exposure remains a critical balance sheet feature, with the potential for margin compression if global reinsurance capacity experiences a structural withdrawal or significant price increases.
While the current capital-light model has proven effective, the company's solvency is indirectly tied to the creditworthiness and availability of its reinsurance partners. Any disruption in these relationships could force a shift in risk retention that might rapidly alter the company's risk profile and capital requirements.
Quick answers to the most common questions about buying PLMR stock.
As of 2025, Palomar Holdings, Inc. (PLMR) had total assets of $2.23B including $559.8M in current assets.
Palomar Holdings, Inc. (PLMR) carries total debt of $7.1M, offset by $725.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Palomar Holdings, Inc. (PLMR) has total shareholders' equity (book value) of $942.7M ($34.30 book value per share). Book value represents the net worth of the company belonging to common stock holders.