Fidelis Insurance Holdings Limited

FIHL

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Fidelis Insurance Holdings Limited provides insurance and reinsurance solutions in Bermuda, the Republic of Ireland, and the United Kingdom. It operates in two segments: Insurance and Reinsurance. The Insurance segment offers property, marine, asset backed finance and portfolio credit, aviation and aerospace, political risk, violence and terror, energy, cyber, and other insurance risks products. The Reinsurance segment provides property, retrocession, and whole account reinsurance solutions. Fidelis Insurance Holdings Limited was incorporated in 2014 and is headquartered in Pembroke, Bermuda.

Valuation

Market Cap$1.8B

Current Price$20.88

P/E Ratio9.90

P/B Ratio0.84

EV / EBITDA-

EV / Sales0.67

Profitability

Operating Margin-

Net Profit Margin10.4%

EBITDA Margin14.9%

Returns

ROE9.4%

ROCE-

ROIC %11.2%

ROA1.8%

Solvency

Current Ratio1.22

Debt / Equity0.35

Debt / Assets0.07

CFO / Net Profit-1.81

Price History▲ 26.24% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

No margin data.

Growth Summary

Latest fiscal year: 2025

Revenue$2.2B▲ 2.9%

EBITDA$323M

Net Profit$226M▲ 99.0%

Cash from Ops (CFO)$-408M

Free Cash Flow (FCF)$-410M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

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	$2.2B	$323M	$226M	$-410M	9.4%	2.9%	99.0%
2024	$2.1B	$170M	$113M	$614M	4.6%	-37.3%	-94.7%
2023	$3.4B	$2.1B	$2.1B	$489M	87.0%	122.1%	3954.2%
2022	$1.5B	$116M	$53M	$723M	2.6%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	1,516.20	3,366.80	2,110.50	2,172.20
EBIT	115.60	2,082.70	170.20	323.30
Pretax Income	80.10	2,047.20	136.40	275.60
Tax Provision	17.80	-85.30	23.10	50.10
Net Income	52.60	2,132.50	113.30	225.50
Net Income Common Stockholders	52.60	2,132.50	113.30	225.50
Total Expenses	1,436.10	1,319.60	1,974.10	1,896.60
Interest Expense	35.50	35.50	33.80	47.70
Interest Income	44	123.50	195.80	192.60
Selling General And Administration	165.50	82.70	94.30	96.60
Normalized Income	52.60	2,132.50	113.30	225.50
Basic EPS	0.27	18.65	0.98	2.12
Diluted EPS	0.26	18.65	0.98	2.11
Tax Effect Of Unusual Items	0	0	0	0
Tax Rate For Calcs	0.22	0.19	0.17	0.18
Total Unusual Items	1,638.10	0	0	0
Total Unusual Items Excluding Goodwill	1,638.10	0	0	0
Net Income From Continuing Operation Net Minority Interest	52.60	2,132.50	113.30	225.50
Reconciled Depreciation	3.90	0.30	-14	-19.20
Net Interest Income	-35.50	-35.50	-33.80	-47.70
Net Income From Continuing And Discontinued Operation	52.60	2,132.50	113.30	225.50
Diluted Average Shares	199.32	114.32	115.63	106.74
Basic Average Shares	194.29	114.31	115.22	106.16
Diluted NI Availto Com Stockholders	52.60	2,132.50	113.30	225.50
Minority Interests	-9.70	0	0	0
Net Income Including Noncontrolling Interests	62.30	2,132.50	113.30	225.50
Net Income Continuous Operations	62.30	2,132.50	113.30	225.50
Other Income Expense	1.90	1,639.20	0	0
Special Income Charges	1,638.10	0	0	0
Restructuring And Mergern Acquisition	-1,638.10	0	0	0
Net Non Operating Interest Income Expense	-35.50	-35.50	-33.80	-47.70
Interest Expense Non Operating	35.50	35.50	33.80	47.70
Other Operating Expenses	20.50	4.10	1.60	1.20
General And Administrative Expense	165.50	82.70	94.30	96.60
Other Gand A	165.50	82.70	94.30	96.60
Operating Revenue	1,516.20	3,366.80	2,110.50	2,172.20
Loss Adjustment Expense	830.20	698.80	1,155.80	1,089.80
Net Policyholder Benefits And Claims	830.20	698.80	1,155.80	1,089.80
Policyholder Benefits Gross	1,351.60	1,214.10	1,786.50	2,256.20
Policyholder Benefits Ceded	521.40	515.30	630.70	1,166.40

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Fidelis Insurance Holdings Limitedthis co.	FIHL	$1.8B	9.90↓ discount	0.84	9.4%	-
LendingClub Corporation	LC	$1.9B	11.03	1.27	9.0%	3.75
Federal Agricultural Mortgage Corporation	AGM	$1.9B	10.38	1.55	12.1%	-
EZCORP, Inc.	EZPW	$1.8B	17.93	1.92	10.7%	11.17
Triumph Financial, Inc.

Learn while you research

Hand-picked academy chapters to deepen your understanding of Fidelis Insurance Holdings Limited and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$2.2B

$323M

$226M

$-410M

9.4%

2.9%

99.0%

2024

$2.1B

$170M

$113M

$614M

4.6%

-37.3%

-94.7%

2023

$3.4B

$2.1B

$489M

87.0%

122.1%

3954.2%

2022

$1.5B

$116M

$53M

$723M

2.6%

Metric

2022

2023

2024

2025

Total Revenue

1,516.20

3,366.80

2,110.50

2,172.20

EBIT

115.60

2,082.70

170.20

323.30

Pretax Income

80.10

2,047.20

136.40

275.60

Tax Provision

17.80

-85.30

23.10

50.10

Net Income

52.60

2,132.50

113.30

225.50

Net Income Common Stockholders

52.60

2,132.50

113.30

225.50

Total Expenses

1,436.10

1,319.60

1,974.10

1,896.60

Interest Expense

35.50

33.80

47.70

Interest Income

123.50

195.80

192.60

Selling General And Administration

165.50

82.70

94.30

96.60

Normalized Income

52.60

2,132.50

113.30

225.50

Basic EPS

0.27

18.65

0.98

2.12

Diluted EPS

0.26

18.65

0.98

2.11

Tax Effect Of Unusual Items

Tax Rate For Calcs

0.22

0.19

0.17

0.18

Total Unusual Items

1,638.10

Total Unusual Items Excluding Goodwill

1,638.10

Net Income From Continuing Operation Net Minority Interest

52.60

2,132.50

113.30

225.50

Reconciled Depreciation

3.90

0.30

-14

-19.20

Net Interest Income

-35.50

-33.80

-47.70

Net Income From Continuing And Discontinued Operation

52.60

2,132.50

113.30

225.50

Diluted Average Shares

199.32

114.32

115.63

106.74

Basic Average Shares

194.29

114.31

115.22

106.16

Diluted NI Availto Com Stockholders

52.60

2,132.50

113.30

225.50

Minority Interests

-9.70

Net Income Including Noncontrolling Interests

62.30

2,132.50

113.30

225.50

Net Income Continuous Operations

62.30

2,132.50

113.30

225.50

Other Income Expense

1.90

1,639.20

Special Income Charges

1,638.10

Restructuring And Mergern Acquisition

-1,638.10

Net Non Operating Interest Income Expense

-35.50

-33.80

-47.70

Interest Expense Non Operating

35.50

33.80

47.70

Other Operating Expenses

20.50

4.10

1.60

1.20

General And Administrative Expense

165.50

82.70

94.30

96.60

Other Gand A

165.50

82.70

94.30

96.60

Operating Revenue

1,516.20

3,366.80

2,110.50

2,172.20

Loss Adjustment Expense

830.20

698.80

1,155.80

1,089.80

Net Policyholder Benefits And Claims

830.20

698.80

1,155.80

1,089.80

Policyholder Benefits Gross

1,351.60

1,214.10

1,786.50

2,256.20

Policyholder Benefits Ceded

521.40

515.30

630.70

1,166.40

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Fidelis Insurance Holdings Limitedthis co.

FIHL

$1.8B

9.90↓ discount

0.84

9.4%

LendingClub Corporation

$1.9B

11.03

1.27

9.0%

3.75

Federal Agricultural Mortgage Corporation

AGM

$1.9B

10.38

1.55

12.1%

EZCORP, Inc.

EZPW

$1.8B

17.93

1.92

10.7%

11.17

Triumph Financial, Inc.

Fidelis Insurance Holdings Limited

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Fidelis Insurance Holdings Limited

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on