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Donegal Group Inc., an insurance holding company, provides commercial and personal lines of property and casualty coverages. It operates through three segments: Investment Function, Commercial Lines of Insurance, and Personal Lines of Insurance. The company offers protection against liability for bodily injury and property damage arising from automobile accidents and protection against loss from damage to automobiles owned by the insured for commercial automobile; protection to businesses against perils combining liability and physical damage coverages; and benefits to employees for injuries sustained during employment. It provides protection against liability for bodily injury and property damage arising from automobile accidents and protection against loss from damage to automobiles owned by the insured for private passenger automobile; and coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft. The company markets its insurance products primarily to Mid-Atlantic, Midwest, Southern, and Southwestern states through a network of independent insurance agents. The company was incorporated in 1986 and is based in Marietta, Pennsylvania. Donegal Group Inc. operates as a subsidiary of Donegal Mutual Insurance Company.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $978M | $99M | $79M | $70M | 12.4% | -1.2% | 56.0% |
| 2024 | $990M | $63M | $51M | $67M | 9.3% | 6.7% | 1049.3% |
| 2023 | $927M | $6M | $4M | $29M | 0.9% | 9.3% | - |
| 2022 | $848M | $-3M | $-2M | $67M | -0.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 848.22 | 927.34 | 989.61 | 978.01 |
| EBIT | -3.02 | 5.68 | 63.28 | 98.94 |
| Pretax Income | -3.64 | 5.06 | 62.34 | 97.59 |
| Tax Provision | -1.68 | 0.64 | 11.48 | 18.25 |
| Net Income | -1.96 | 4.43 | 50.86 | 79.34 |
| Net Income Common Stockholders | -1.96 | 4.43 | 50.86 | 79.34 |
| Total Expenses | 851.86 | 922.27 | 927.27 | 880.42 |
| Interest Expense | 0.62 | 0.62 | 0.95 | 1.35 |
| Normalized Income | -1.96 | 4.43 | 50.86 | 79.34 |
| Basic EPS | -0.06 | 0.14 | 1.53 | 2.22 |
| Diluted EPS | -0.06 | 0.11 | 1.53 | 2.18 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.13 | 0.18 | 0.19 |
| Total Unusual Items | 0.48 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0.48 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -1.96 | 4.43 | 50.86 | 79.34 |
| Reconciled Depreciation | 4.84 | 4.33 | 3.87 | 3.08 |
| Net Interest Income | -0.62 | -0.62 | -0.95 | -1.35 |
| Net Income From Continuing And Discontinued Operation | -1.96 | 4.43 | 50.86 | 79.34 |
| Diluted Average Shares | 32.11 | 33.14 | 33.82 | 36.82 |
| Basic Average Shares | 31.99 | 33.05 | 33.73 | 36.32 |
| Diluted NI Availto Com Stockholders | -1.96 | 4.43 | 50.86 | 79.34 |
| Net Income Including Noncontrolling Interests | -1.96 | 4.43 | 50.86 | 79.34 |
| Net Income Continuous Operations | -1.96 | 4.43 | 50.86 | 79.34 |
| Other Income Expense | 0.38 | 0.35 | 0.31 | 0.30 |
| Special Income Charges | 0.48 | 0 | 0 | 0 |
| Other Special Charges | -0.48 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -0.62 | -0.62 | -0.95 | -1.35 |
| Interest Expense Non Operating | 0.62 | 0.62 | 0.95 | 1.35 |
| Other Operating Expenses | 1.24 | 1.20 | 2.56 | 0.56 |
| Operating Revenue | 848.22 | 927.34 | 989.61 | 978.01 |
| Loss Adjustment Expense | 564.08 | 609.18 | 604.12 | 564.33 |
| Net Policyholder Benefits And Claims | 564.08 | 609.18 | 604.12 | 564.33 |
| Policyholder Benefits Gross | 564.08 | 609.18 | 604.12 | 564.33 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Donegal Group Inc.this co. | DGICA | - | - | - | 12.4% | - |
| Silvercrest Asset Management Group Inc. | SAMG | $107M | 23.59 | 2.04 | 5.8% | 9.86 |
| Sound Financial Bancorp, Inc. | SFBC | $98M | 14.04 | 0.96 | 6.5% | - |
| Kestrel Group Ltd | KG | $89M | 1.12 | 0.58 | 36.4% | - |
| Vroom, Inc. | VRM | $80M | - |
| 0.69 |
| -45.5% |
| 57.65 |
| Siebert Financial Corp. | SIEB | $72M | 13.46 | 0.79 | 5.7% | - |
| eHealth, Inc. | EHTH | $62M | - | 0.10 | 6.8% | 7.11 |
| MarketWise, Inc. | MKTW | $47M | 7.64 | -3.69 | -2.6% | -3.48 |
| GoHealth, Inc. | GOCO | $31M | - | 0.45 | 4834.1% | -7.69 |
| Peer Median | - | 13.46 | 0.63 | 6.1% | 7.11 | |