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Heritage Insurance Holdings, Inc., through its subsidiaries, provides personal and commercial residential insurance products. It offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; and commercial residential property insurance in Florida, Hawaii, New Jersey, and New York. The company also provides homeowners insurance, condo insurance, dwelling fire, equipment coverage, and artisan contractor program. It offers insurance products through a network of independent agents. The company was founded in 2012 and is headquartered in Tampa, Florida.
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 | $774M | $267M | $196M | $174M | 38.7% | 1.0% | 217.8% |
| 2024 | $767M | $94M | $62M | $79M | 21.2% | 14.3% | 35.8% |
| 2023 | $671M | $63M | $45M | $61M | 20.6% | 1.2% | - |
| 2022 | $662M | $-157M | $-154M | $-47M | -117.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 662.46 | 670.70 | 766.68 | 774.43 |
| EBIT | -157.36 | 63.22 | 93.61 | 267.15 |
| Pretax Income | -166.17 | 52.01 | 82.68 | 259.26 |
| Tax Provision | -11.81 | 6.70 | 21.14 | 63.67 |
| Net Income | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income Common Stockholders | -154.36 | 45.31 | 61.54 | 195.59 |
| Total Expenses | 828.63 | 618.69 | 684.01 | 515.17 |
| Interest Expense | 8.81 | 11.21 | 10.93 | 7.89 |
| Selling General And Administration | 70.40 | 61.68 | 72.64 | 74.87 |
| Normalized Income | -68.94 | 45.98 | 61.54 | 195.59 |
| Basic EPS | -5.86 | 1.73 | 2.01 | 6.33 |
| Diluted EPS | -5.86 | 1.73 | 2.01 | 6.32 |
| Tax Effect Of Unusual Items | -6.53 | -0.10 | 0 | 0 |
| Tax Rate For Calcs | 0.07 | 0.13 | 0.26 | 0.25 |
| Total Unusual Items | -91.96 | -0.77 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -91.96 | -0.77 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -154.36 | 45.31 | 61.54 | 195.59 |
| Reconciled Depreciation | 8.36 | 8.69 | 9.55 | 12.70 |
| Net Interest Income | -8.81 | -11.21 | -10.93 | -7.89 |
| Net Income From Continuing And Discontinued Operation | -154.36 | 45.31 | 61.54 | 195.59 |
| Diluted Average Shares | 26.34 | 26.25 | 30.65 | 30.95 |
| Basic Average Shares | 26.34 | 26.19 | 30.60 | 30.89 |
| Diluted NI Availto Com Stockholders | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income Including Noncontrolling Interests | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income Continuous Operations | -154.36 | 45.31 | 61.54 | 195.59 |
| Other Income Expense | 13.68 | 13.53 | 13.20 | 13.30 |
| Special Income Charges | -91.96 | -0.77 | 0 | 0 |
| Impairment Of Capital Assets | 91.96 | 0.77 | 0 | 0 |
| Net Non Operating Interest Income Expense | -8.81 | -11.21 | -10.93 | -7.89 |
| Interest Expense Non Operating | 8.81 | 11.21 | 10.93 | 7.89 |
| General And Administrative Expense | 70.40 | 61.68 | 72.64 | 74.87 |
| Other Gand A | 70.40 | 61.68 | 72.64 | 74.87 |
| Operating Revenue | 662.46 | 670.70 | 766.68 | 774.43 |
| Loss Adjustment Expense | 501.16 | 426.13 | 447.05 | 313.25 |
| Net Policyholder Benefits And Claims | 501.16 | 426.13 | 447.05 | 313.25 |
| Policyholder Benefits Gross | 1,318 | 875.48 | 1,162.48 | 266.95 |
| Policyholder Benefits Ceded | 816.84 | 449.35 | 715.43 | -46.29 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Heritage Insurance Holdings, Inc.this co. | HRTG | - | - | - | 38.7% | - |
| 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 | |