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PRA logoProAssurance Corporation(PRA)Earnings, Financials & Key Ratios

PRA•NYSE•Insurance & Managed Care
$24.60
$1.27B mkt cap·24.8× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
AboutProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare providers and institutions, and attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance, such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies, as well as alternative market solutions that include program design, fronting, claims administration, risk management, SPC rental, asset management, and SPC management services for individual companies, agencies, groups, and associations. The company also participates in Lloyd's of London Syndicate 1729, which underwrites property and casualty insurance, and reinsurance. It markets its products through independent agencies and brokers, as well as an internal sales force. The company was founded in 1976 and is headquartered in Birmingham, Alabama.Show more
  • Revenue$1.1B-2.7%
  • Combined Ratio93.44%-1.0%
  • Net Income$51M-3.5%
  • Return on Equity3.99%-12.4%
  • Medical Cost Ratio60.6%-21.9%
  • Operating Margin6.56%+17.4%
  • Net Margin4.64%-0.8%
  • ROA0.92%-1.8%
  • Equity / Assets24.77%+14.9%
  • Book Value per Share26.11+11.4%
  • Tangible BV/Share23.95+7.5%
  • Debt/Equity0.32-12.4%
Technical→

PRA Key Insights

ProAssurance Corporation (PRA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 93.4% combined ratio
  • ✓Trading near 52-week high
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 1.7%
  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PRA Price & Volume

ProAssurance Corporation (PRA) stock price & volume — 10-year historical chart

Loading chart...

PRA Growth Metrics

ProAssurance Corporation (PRA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.63%
5 Years4.36%
3 Years-0.11%
TTM-3.16%

Profit CAGR

10 Years-7.92%
5 Years-
3 Years-
TTM54.14%

EPS CAGR

10 Years-7.29%
5 Years-
3 Years-
TTM50.35%

Return on Capital

10 Years0.94%
5 Years1.6%
3 Years1.79%
Last Year3.97%

PRA Recent Earnings

ProAssurance Corporation (PRA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 5, 2026
EPS
$0.25
Est $0.25
+0.0%
Revenue
$224M
Est $217M
+3.1%
Q1 2026
Feb 23, 2026
EPS
$0.82
Est $0.22
+272.7%
Revenue
$232M
Est $231M
+0.6%
Q4 2025
Nov 4, 2025
EPS
$0.15
Est $0.28
-46.4%
Revenue
$275M
Est $261M
+5.3%
Q3 2025
Aug 5, 2025
EPS
$0.52
Est $0.19
+173.7%
Revenue
$277M
Est $266M
+4.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.25vs $0.25+0.0%
$224Mvs $217M+3.1%
Q1 2026Feb 23, 2026
$0.82vs $0.22+272.7%
$232Mvs $231M+0.6%
Q4 2025Nov 4, 2025
$0.15vs $0.28-46.4%
$275Mvs $261M+5.3%
Q3 2025Aug 5, 2025
$0.52vs $0.19+173.7%
$277Mvs $266M+4.1%
Based on last 12 quarters of dataView full earnings history →

PRA Peer Comparison

ProAssurance Corporation (PRA) competitors in Specialty and excess surplus insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
HCI logoHCIHCI Group, Inc.Direct Competitor2B154.146.2020.21%33.16%36.22%0.06
PLMR logoPLMRPalomar Holdings, Inc.Direct Competitor2.94B110.7515.4558.16%22.56%22.79%0.01
ACGL logoACGLArch Capital Group Ltd.Direct Competitor33.74B94.708.1514.27%22.07%19.02%0.11
RLI logoRLIRLI Corp.Direct Competitor4.51B49.0111.246.33%20.8%22%0.06
MMC logoMMCMarsh & McLennan Companies, Inc.Product Competitor85.27B174.0621.287.57%15.6%26.87%1.62
AJG logoAJGArthur J. Gallagher & Co.Product Competitor50.63B196.9134.2520.66%10.72%6.5%0.60
HIG logoHIGThe Hartford Financial Services Group, Inc.Product Competitor36.71B133.4910.027.1%14.13%22.01%0.23
CNA logoCNACNA Financial CorporationProduct Competitor11.75B43.439.265.1%8.95%11.94%0.26

Compare PRA vs Peers

ProAssurance Corporation (PRA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HCI

Most directly comparable listed peer for PRA.

Scale Benchmark

vs UNH

Larger-name benchmark to compare PRA against a more recognizable public peer.

Peer Set

Compare Top 5

vs HCI, PLMR, ACGL, RLI

PRA Income Statement

ProAssurance Corporation (PRA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue858.12M877.08M1.01B886.86M1.08B1.1B1.13B1.13B1.1B1.08B
Revenue Growth %-2.04%2.21%15.14%-12.18%21.26%2.45%2.6%-0.2%-2.67%-3.16%
Medical Costs & Claims564.91M697.71M869.25M772.01M862.85M909.94M935.31M874.87M665.42M541.83M
Medical Cost Ratio %65.83%79.55%86.07%87.05%80.23%82.59%82.74%77.55%60.6%50.2%
Gross Profit
293.21M▲ 0%
179.37M▼ 38.8%
140.65M▼ 21.6%
114.85M▼ 18.3%
212.58M▲ 85.1%
191.86M▼ 9.7%
195.11M▲ 1.7%
253.34M▲ 29.8%
432.61M▲ 70.8%
274.81M▲ 0%
Gross Margin %34.17%20.45%13.93%12.95%19.77%17.41%17.26%22.45%39.4%25.46%
Gross Profit Growth %-14.86%-38.82%-21.59%-18.34%85.1%-9.75%1.69%29.84%70.77%-
Operating Expenses164.58M150.35M169.45M331.9M65.97M198.08M234.26M190.26M360.54M268.94M
OpEx / Revenue %19.18%17.14%16.78%37.42%6.13%17.98%20.72%16.86%32.84%24.92%
Depreciation & Amortization28.8M21.25M18.66M21.38M37.25M38.06M26.02M17.75M13.69M9.87M
Combined Ratio %85.01%96.69%102.85%124.47%86.37%100.56%103.46%94.41%93.44%75.12%
Operating Income
128.62M▲ 0%
29.02M▼ 77.4%
-28.8M▼ 199.2%
-217.06M▼ 653.6%
146.61M▲ 167.5%
-6.22M▼ 104.2%
-39.15M▼ 529.8%
63.08M▲ 261.1%
72.07M▲ 14.3%
91.12M▲ 0%
Operating Margin %14.99%3.31%-2.85%-24.47%13.63%-0.56%-3.46%5.59%6.56%8.44%
Operating Income Growth %-27%-77.43%-199.24%-653.56%167.54%-104.24%-529.81%261.12%14.25%-
EBITDA157.42M50.28M-10.14M-195.68M183.85M31.85M-13.13M80.83M85.76M100.99M
EBITDA Margin %18.34%5.73%-1%-22.06%17.1%2.89%-1.16%7.16%7.81%9.36%
Interest Expense16.84M16.12M16.64M15.5M19.72M20.37M23.15M22.34M20.84M20.77M
Non-Operating Income-16.84M-16.12M-16.64M-15.5M-19.72M-20.37M-23.15M-22.34M-20.84M-15.68M
Pretax Income
128.62M▲ 0%
29.02M▼ 77.4%
-28.8M▼ 199.2%
-217.06M▼ 653.6%
146.61M▲ 167.5%
-6.22M▼ 104.2%
-39.15M▼ 529.8%
63.08M▲ 261.1%
72.07M▲ 14.3%
87.59M▲ 0%
Pretax Margin %14.99%3.31%-2.85%-24.47%13.63%-0.56%-3.46%5.59%6.56%8.12%
Income Tax21.36M-18.03M-29.81M-41.33M2.48M-5.81M-545K10.33M21.15M22.21M
Effective Tax Rate %16.61%-62.13%103.49%19.04%1.69%93.53%1.39%16.38%29.35%25.36%
Net Income
107.26M▲ 0%
47.06M▼ 56.1%
1M▼ 97.9%
-175.73M▼ 17602.7%
144.12M▲ 182.0%
-402K▼ 100.3%
-38.6M▼ 9503.0%
52.74M▲ 236.6%
50.91M▼ 3.5%
65.2M▲ 0%
Net Margin %12.5%5.37%0.1%-19.81%13.4%-0.04%-3.42%4.68%4.64%6.04%
Net Income Growth %-29%-56.13%-97.87%-17602.69%182.02%-100.28%-9502.99%236.63%-3.47%54.14%
EPS (Diluted)
2.00▲ 0%
0.88▼ 56.0%
0.02▼ 97.9%
-3.26▼ 17626.9%
2.67▲ 181.9%
-0.01▼ 100.3%
-0.73▼ 9764.9%
1.03▲ 241.1%
0.99▼ 3.9%
1.26▲ 0%
EPS Growth %-29.33%-56%-97.89%-17626.88%181.9%-100.28%-241.1%-3.88%50.35%
EPS (Basic)2.010.880.02-3.262.67-0.01-0.731.030.99-
Diluted Shares Outstanding53.61M53.75M53.84M53.91M54.06M54.14M52.79M51.27M51.67M51.81M

PRA Balance Sheet

ProAssurance Corporation (PRA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets4.93B4.6B4.81B4.65B6.19B5.7B5.63B5.57B5.45B5.41B
Asset Growth %-2.68%-6.66%4.45%-3.14%33.01%-7.94%-1.19%-1.02%-2.28%-9.74%
Total Investment Assets503.55M466.14M3.42B3.42B8.7B4.42B420.78M4.4B4.44B4M
Long-Term Investments503.55M466.14M3.29B3.27B4.64B512.69M420.78M376.56M349.71M1.06B
Short-Term Investments002.63B2.8B4.05B3.72B04.02B4.09B309.51M
Total Current Assets134.5M80.47M004.93B0541.25M04.74B561.08M
Cash & Equivalents134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M36.49M14.05M
Receivables00652.99M600.85M707.43M693.3M235.57M656.2M582.04M2.09B
Other Current Assets00-3.5B-3.65B0-4.47B239.78M-4.58B00
Goodwill & Intangibles293.73M287.52M281.48M115.33M122.95M116.41M65.8M59.7M111.44M396.43M
Goodwill210.72M210.72M210.72M49.61M49.61M49.61M5.5M5.5M5.5M5.5M
Intangible Assets83M76.8M70.76M65.72M73.34M66.8M60.31M54.2M105.94M47.61M
PP&E (Net)0021.07M19.01M19.59M18.99M46.03M16.51M13.82M0
Other Assets72.81M155.74M-3.59B-3.41B0-648.09M3.9B-452.78M106.16M0
Total Liabilities3.33B3.08B3.29B3.31B4.76B4.6B4.52B4.37B4.1B4.08B
Total Debt411.81M287.76M307.87M304.83M445.83M446.99M444.31M442.26M435.06M13.98M
Net Debt277.32M207.29M132.5M89.05M302.23M417.03M378.41M387.38M398.57M-78K
Long-Term Debt410.42M287.76M285.82M284.71M424.99M426.98M427.13M299.87M295.42M0
Short-Term Debt0000003.29M125M125M13.98M
Total Current Liabilities000022.63M02.96B3.83B3.56B13.98M
Accounts Payable37.73M55.61M52.95M40M22.63M28.51M24.02M27.29M14.42M0
Deferred Revenue0-1.45M000422.95M0418.76M403.88M0
Other Current Liabilities-351.94M-151.22M-125.39M-108.86M0-451.46M2.93B3.26B3.02B0
Deferred Taxes1000K000001000K00-98.98M
Other Liabilities2.91B2.79B-307.87M-304.83M4.32B226.38M619.18M226.52M226.3M4.16B
Total Equity
1.59B▲ 0%
1.52B▼ 4.5%
1.51B▼ 0.7%
1.35B▼ 10.8%
1.43B▲ 5.9%
1.1B▼ 22.7%
1.11B▲ 0.7%
1.2B▲ 8.1%
1.35B▲ 12.3%
1.34B▲ 0%
Equity Growth %-11.34%-4.5%-0.73%-10.76%5.87%-22.71%0.72%8.07%12.26%39.33%
Shareholders Equity1.59B1.52B1.51B1.35B1.43B1.1B1.11B1.2B1.35B1.34B
Minority Interest0000000000
Retained Earnings1.61B1.57B1.51B1.3B1.43B1.42B1.38B1.43B1.49B1.49B
Common Stock628K630K631K632K633K634K636K638K640K642K
Accumulated OCI14.91M-16.91M36.95M75.23M16.28M-298.61M-204.49M-172.39M-81.05M0
Return on Equity (ROE)6.32%3.02%0.07%-12.28%10.38%-0.03%-3.48%4.56%3.99%4.95%
Return on Assets (ROA)2.15%0.99%0.02%-3.72%2.66%-0.01%-0.68%0.94%0.92%1.19%
Equity / Assets32.35%33.1%31.46%28.99%23.07%19.37%19.74%21.56%24.77%24.72%
Debt / Equity0.26x0.19x0.20x0.23x0.31x0.40x0.40x0.37x0.32x0.32x
Book Value per Share29.7528.3428.0825.0326.4220.3921.0723.4426.1125.84
Tangible BV per Share24.2722.9922.8522.8924.1518.2419.8222.2823.9524.81

PRA Cash Flow Statement

ProAssurance Corporation (PRA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations173.39M177.26M148.17M92.34M73.97M-29.84M-49.88M-10.71M-25.62M-25.62M
Operating CF Growth %-3.13%2.24%-16.42%-37.68%-19.9%-140.34%-67.17%78.52%-139.1%-5347.13%
Operating CF / Revenue %20.21%20.21%14.67%10.41%6.88%-2.71%-4.41%-0.95%-2.33%-2.37%
Net Income107.26M47.06M1M-175.73M144.12M-402K-38.6M52.74M50.91M65.2M
Depreciation & Amortization28.8M21.25M18.66M21.38M37.25M38.06M26.02M17.75M13.69M9.87M
Stock-Based Compensation10.62M5.32M3.53M3.84M4.39M4.83M5.25M6.2M7.85M6.06M
Deferred Taxes0-11.82M-28.64M-21.15M1.32M-6.62M-1.77M12.82M16.79M16.78M
Other Non-Cash Items-3.68M61.09M-25.26M203.07M-126.01M58.79M41.17M-4.28M11.27M12.24M
Working Capital Changes30.39M54.37M178.87M60.93M12.9M-124.5M-81.94M-95.96M-126.13M-115.69M
Cash from Investing200.28M214.9M50.52M-8.48M-85.53M-62M141.14M10.67M19.44M15.33M
Capital Expenditures0-9.64M-9.59M-7.48M-3.84M-4.35M-4.79M-9.02M-3.6M-2.87M
Acquisitions-42.69M-70.82M216.7M000039.68M19.38M-924K
Purchase of Investments-915.35M-1.05B-770.19M0-1.51B-681.25M-464.94M-798.44M-924.07M-132.22M
Sale/Maturity of Investments1.11B1.07B597.59M01.35B656.2M586.17M778.45M907.45M129.95M
Other Investing50.35M282.18M16M-1.01M78.31M-32.59M24.69M020.27M21.39M
Cash from Financing-356.51M-446.19M-103.79M-43.45M-60.62M-21.8M-55.31M-10.97M-12.2M-13.87M
Dividends Paid-315.23M-316.48M-93.2M-38.66M-10.76M-10.77M-5.38M000
Share Repurchases0-1M0-2.35M-10.38M-3.25M-50.49M00-1.2M
Stock Issued0002.35M10.38M008K00
Debt Issuance (Net)-1000K-1000K-1000K-1000K-1000K00-1000K-1000K-3M
Other Financing-4.75M-5.31M-9.14M-935K-3.38M-7.79M552K-6.29M-5.95M-7.98M
Net Change in Cash
17.15M▲ 0%
-54.02M▼ 415.0%
94.9M▲ 275.7%
40.41M▼ 57.4%
-72.18M▼ 278.6%
-113.64M▼ 57.4%
35.94M▲ 131.6%
-11.02M▼ 130.7%
-18.39M▼ 66.9%
-29.49M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning117.35M134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M36.49M
Cash at End134.5M80.47M175.37M215.78M143.6M29.96M65.9M54.88M36.49M14.05M
Free Cash Flow
162.9M▲ 0%
167.63M▲ 2.9%
138.58M▼ 17.3%
84.86M▼ 38.8%
70.13M▼ 17.4%
-34.19M▼ 148.8%
-54.67M▼ 59.9%
-19.73M▲ 63.9%
-29.22M▼ 48.1%
-16.88M▲ 0%
FCF Growth %-3.07%2.9%-17.33%-38.76%-17.36%-148.76%-59.9%63.91%-48.08%11.54%
FCF Margin %18.98%19.11%13.72%9.57%6.52%-3.1%-4.84%-1.75%-2.66%-1.56%
FCF per Share3.043.122.571.571.3-0.63-1.04-0.38-0.57-0.57

PRA Key Ratios

ProAssurance Corporation (PRA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio85.01%96.69%102.85%124.47%86.37%100.56%103.46%94.41%93.44%75.12%
Medical Cost Ratio65.83%79.55%86.07%87.05%80.23%82.59%82.74%77.55%60.6%50.2%
Return on Equity (ROE)6.32%3.02%0.07%-12.28%10.38%-0.03%-3.48%4.56%3.99%4.95%
Return on Assets (ROA)2.15%0.99%0.02%-3.72%2.66%-0.01%-0.68%0.94%0.92%1.19%
Equity / Assets32.35%33.1%31.46%28.99%23.07%19.37%19.74%21.56%24.77%24.72%
Book Value / Share29.7528.3428.0825.0326.4220.3921.0723.4426.1125.84
Debt / Equity0.26x0.19x0.20x0.23x0.31x0.40x0.40x0.37x0.32x0.32x
Revenue Growth-2.04%2.21%15.14%-12.18%21.26%2.45%2.6%-0.2%-2.67%-3.16%

PRA SEC Filings & Documents

ProAssurance Corporation (PRA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Feb 23, 2026·SEC

Material company update

Dec 8, 2025·SEC

10-K Annual Reports

4
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 24, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

PRA Frequently Asked Questions

ProAssurance Corporation (PRA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

ProAssurance Corporation (PRA) saw revenue decline by 2.7% over the past year.

Yes, ProAssurance Corporation (PRA) is profitable, generating $65.2M in net income for fiscal year 2025 (4.6% net margin).

Dividend & Returns

ProAssurance Corporation (PRA) has a return on equity (ROE) of 4.0%. This is below average, suggesting room for improvement.

Industry Metrics

ProAssurance Corporation (PRA) has a combined ratio of 93.4%. A ratio below 100% indicates underwriting profitability.

Explore More PRA

ProAssurance Corporation (PRA) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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