ProAssurance Corporation (PRA) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Insurance - Property & Casualty
EV/EBITDA
↑
19.45
-9% vs avg
5yr avg: 21.49
30Y Low2.9·High47.5
P/FCF
N/A
—
5yr avg: 19.50
30Y Low3.1·High91.8
P/B Ratio
↓
0.94
+16% vs avg
5yr avg: 0.81
30Y Low0.7·High2.5
ROE
↓
4.0%
↓+30% vs avg
5yr avg: 3.1%
30Y Low-12%·High25%
Debt/EBITDA
↑
5.07
↓-25% vs avg
5yr avg: 6.75
30Y Low0.1·High14.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PRA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ProAssurance Corporation trades at 24.8x earnings, 51% above its 5-year average of 16.4x, sitting at the 85th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 86%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.2B | $816M | $728M | $946M | $1.4B | $959M | $1.9B | $2.2B | $3.1B | $3.0B |
| Enterprise Value | $1.7B | $1.6B | $1.2B | $1.1B | $1.4B | $1.7B | $1.0B | $2.1B | $2.4B | $3.3B | $3.3B |
| P/E Ratio → | 24.85 | 24.40 | 15.45 | — | — | 9.48 | — | 1943.01 | 46.09 | 28.57 | 19.86 |
| P/S Ratio | 1.16 | 1.14 | 0.72 | 0.64 | 0.86 | 1.27 | 1.08 | 1.93 | 2.49 | 3.57 | 3.43 |
| P/B Ratio | 0.94 | 0.93 | 0.68 | 0.65 | 0.86 | 0.96 | 0.71 | 1.29 | 1.43 | 1.92 | 1.67 |
| P/FCF | — | — | — | — | — | 19.50 | 11.30 | 14.04 | 13.01 | 18.81 | 17.87 |
| P/OCF | — | — | — | — | — | 18.49 | 10.39 | 13.13 | 12.30 | 17.67 | 16.78 |
P/E links to full P/E history page with 30-year chart
PRA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ProAssurance Corporation's enterprise value stands at 19.5x EBITDA, 9% below its 5-year average of 21.5x. The Financial Services sector median is 11.4x, placing the stock at a 70% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.50 | 1.07 | 0.98 | 1.24 | 1.55 | 1.18 | 2.06 | 2.72 | 3.89 | 3.81 |
| EV / EBITDA | 19.45 | 19.20 | 14.88 | — | 42.79 | 9.08 | — | — | 47.48 | 21.22 | 15.96 |
| EV / EBIT | 23.15 | 17.73 | 14.08 | — | 96.27 | 10.04 | — | — | 52.89 | 22.97 | 17.44 |
| EV / FCF | — | — | — | — | — | 23.81 | 12.35 | 15.00 | 14.24 | 20.51 | 19.84 |
PRA Profitability
Margins and return-on-capital ratios measuring operating efficiency
ProAssurance Corporation earns an operating margin of 6.6%, below the Financial Services sector average of 21.2%. Operating margins have expanded from -3.5% to 6.6% over the past 3 years, signaling improving operational efficiency. ROE of 4.0% is modest, trailing the sector median of 9.4%. ROIC of 3.2% represents below-average returns on invested capital versus a sector median of 5.7%.
Margins
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 | 39.4% | 39.4% | 22.5% | 17.3% | 17.4% | 19.8% | 13.0% | 13.9% | 20.5% | 34.2% | 39.3% |
| Operating Margin | 6.6% | 6.6% | 5.6% | -3.5% | -0.6% | 13.6% | -24.5% | -2.9% | 3.3% | 15.0% | 20.1% |
| Net Profit Margin | 4.6% | 4.6% | 4.7% | -3.4% | -0.0% | 13.4% | -19.8% | 0.1% | 5.4% | 12.5% | 17.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.0% | 4.0% | 4.6% | -3.5% | -0.0% | 10.4% | -12.3% | 0.1% | 3.0% | 6.3% | 8.0% |
| ROA | 0.9% | 0.9% | 0.9% | -0.7% | -0.0% | 2.7% | -3.7% | 0.0% | 1.0% | 2.1% | 3.0% |
| ROIC | 3.2% | 3.2% | 3.1% | -1.9% | -0.3% | 6.9% | -10.6% | -1.3% | 1.2% | 4.8% | 6.3% |
| ROCE | 4.0% | 4.0% | 2.9% | -1.4% | -0.1% | 2.7% | -4.6% | -0.6% | 0.6% | 2.6% | 3.4% |
PRA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ProAssurance Corporation carries a Debt/EBITDA ratio of 5.1x, which is highly leveraged (23% above the sector average of 4.1x). Net debt stands at $399M ($435M total debt minus $36M cash). Interest coverage of 4.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.32 | 0.37 | 0.40 | 0.40 | 0.31 | 0.23 | 0.20 | 0.19 | 0.26 | 0.25 |
| Debt / EBITDA | 5.07 | 5.07 | 5.47 | — | 14.04 | 2.42 | — | — | 5.72 | 2.62 | 2.14 |
| Net Debt / Equity | — | 0.30 | 0.32 | 0.34 | 0.38 | 0.21 | 0.07 | 0.09 | 0.14 | 0.17 | 0.18 |
| Net Debt / EBITDA | 4.65 | 4.65 | 4.79 | — | 13.09 | 1.64 | — | — | 4.12 | 1.76 | 1.58 |
| Debt / FCF | — | — | — | — | — | 4.31 | 1.05 | 0.96 | 1.24 | 1.70 | 1.97 |
| Interest Coverage | 4.46 | 4.46 | 3.82 | -0.69 | 0.69 | 8.43 | -13.00 | -0.73 | 2.80 | 8.64 | 12.72 |
PRA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.33x means ProAssurance Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.18x to 1.33x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | — | 0.18 | — | 217.72 | — | — | — | — | — |
| Quick Ratio | 1.33 | 1.33 | — | 0.18 | — | 217.72 | — | — | — | — | — |
| Cash Ratio | 1.16 | 1.16 | 1.06 | 0.02 | — | 185.37 | — | — | — | — | — |
| Asset Turnover | — | 0.20 | 0.20 | 0.20 | 0.19 | 0.17 | 0.19 | 0.21 | 0.19 | 0.17 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PRA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ProAssurance Corporation does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 4.0% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 0.7% | 1.1% | 0.8% | 4.0% | 4.8% | 14.5% | 10.3% | 4.0% |
| Payout Ratio | — | — | — | — | — | 7.5% | — | 9283.3% | 672.5% | 293.9% | 78.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 4.1% | 6.5% | — | — | 10.6% | — | 0.1% | 2.2% | 3.5% | 5.0% |
| FCF Yield | — | — | — | — | — | 5.1% | 8.8% | 7.1% | 7.7% | 5.3% | 5.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 6.9% | 0.3% | 0.8% | 0.2% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 7.7% | 1.5% | 1.5% | 4.3% | 4.8% | 14.6% | 10.3% | 4.0% |
| Shares Outstanding | — | $52M | $51M | $53M | $54M | $54M | $54M | $54M | $54M | $54M | $53M |
Peer Comparison
Compare PRA 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 |
|---|---|---|---|---|---|---|---|---|---|
 PRAYou | $1B | 24.8 | 19.5 | — | 39.4% | 6.6% | 4.0% | 3.2% | 5.1 |
 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 |
 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 |
 MMC | $85B | 21.3 | 16.0 | 21.4 | 42.8% | 23.8% | 31.3% | 15.2% | 3.3 |
 AJG | $51B | 34.2 | 17.2 | 28.4 | 54.8% | 18.3% | 6.9% | 7.0% | 3.8 |
 HIG | $37B | 10.0 | 7.9 | 6.4 | 46.1% | 16.8% | 21.7% | 16.3% | 0.8 |
 CNA | $12B | 9.3 | 8.5 | 4.9 | 30.7% | 11.0% | 11.5% | 8.9% | 1.8 |
 CINF | $25B | 10.6 | 7.8 | 8.1 | 50.1% | 23.6% | 16.0% | 15.3% | 0.3 |
 WRB | $25B | 14.9 | 10.9 | 7.1 | 19.8% | 15.9% | 19.6% | 18.2% | 1.2 |
| 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 →
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Start ComparisonPRA — Frequently Asked Questions
Quick answers to the most common questions about buying PRA stock.
What is ProAssurance Corporation's P/E ratio?
ProAssurance Corporation's current P/E ratio is 24.8x. The historical average is 17.8x. This places it at the 85th percentile of its historical range.
What is ProAssurance Corporation's EV/EBITDA?
ProAssurance Corporation's current EV/EBITDA is 19.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
What is ProAssurance Corporation's ROE?
ProAssurance Corporation's return on equity (ROE) is 4.0%. The historical average is 8.7%.
Is PRA stock overvalued?
Based on historical data, ProAssurance Corporation is trading at a P/E of 24.8x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are ProAssurance Corporation's profit margins?
ProAssurance Corporation has 39.4% gross margin and 6.6% operating margin.
How much debt does ProAssurance Corporation have?
ProAssurance Corporation's Debt/EBITDA ratio is 5.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.