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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 | - | $196M | $174M | 38.7% | 1.0% | 217.8% |
| 2024 | $767M | - | $62M | $79M | 21.2% | 14.3% | 35.8% |
| 2023 | $671M | - | $45M | $61M | 20.6% | 1.2% | -129.4% |
| 2022 | $662M | - | $-154M | $-47M | -117.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 662.46 | 670.70 | 766.68 | 774.43 |
| Operating Revenue | - | 662.46 | 670.70 | 766.68 | 774.43 |
| Selling General And Administration | - | 70.40 | 61.68 | 72.64 | 74.87 |
| Total Expenses | - | 828.63 | 618.69 | 684.01 | 515.17 |
| EBIT | - | -157.36 | 63.22 | 93.61 | 267.15 |
| Interest Expense | - | 8.81 | 11.21 | 10.93 | 7.89 |
| Net Interest Income | - | -8.81 | -11.21 | -10.93 | -7.89 |
| Other Income Expense | - | 13.68 | 13.53 | 13.20 | 13.30 |
| Interest Expense Non Operating | - | 8.81 | 11.21 | 10.93 | 7.89 |
| Net Non Operating Interest Income Expense | - | -8.81 | -11.21 | -10.93 | -7.89 |
| Pretax Income | - | -166.17 | 52 | 82.68 | 259.26 |
| Tax Provision | - | -11.81 | 6.70 | 21.14 | 63.67 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -6.53 | -0.10 | 0 | 0 |
| Net Income Continuous Operations | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income From Continuing And Discontinued Operation | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income From Continuing Operation Net Minority Interest | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income Common Stockholders | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Net Income Including Noncontrolling Interests | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Normalized Income | - | -68.94 | 45.98 | 61.54 | 195.59 |
| Diluted NI Availto Com Stockholders | - | -154.36 | 45.31 | 61.54 | 195.59 |
| Basic Average Shares | - | 26.34 | 26.19 | 30.60 | 30.89 |
| Diluted Average Shares | - | 26.34 | 26.25 | 30.65 | 30.95 |
| Reconciled Depreciation | - | 8.36 | 8.69 | 9.55 | 12.70 |
| Total Unusual Items | - | -91.96 | -0.77 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | -91.96 | -0.77 | 0 | 0 |
| Special Income Charges | - | -91.96 | -0.77 | 0 | 0 |
| Impairment Of Capital Assets | - | 91.96 | 0.77 | 0 | 0 |
| General And Administrative Expense | - | 70.40 | 61.68 | 72.64 | 74.87 |
| Other Gand A | - | 70.40 | 61.68 | 72.64 | 74.87 |
| 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 | $642M | 3.28↓ discount | 1.27 | 38.7% | - |
| Tiptree Inc. | TIPT | $656M | 18.79 | 1.29 | 6.9% | - |
| Third Coast Bancshares, Inc. | TCBX | $652M | 9.84 | 1.23 | 12.5% | - |
| Bit Digital, Inc. | BTBT | $646M | -8.04 | 0.90 | -11.2% | -14.07 |
| GCM Grosvenor Inc. | GCMG |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $644M |
| 14.19 |
| 23.85 |
| 168.1% |
| 4.84 |
| Hippo Holdings Inc. | HIPO | $635M | 11.01 | 1.46 | 13.2% | - |
| Hingham Institution for Savings | HIFS | $634M | 11.62 | 1.32 | 11.4% | - |
| Washington Trust Bancorp, Inc. | WASH | $633M | 12.12 | 1.17 | 9.6% | - |
| Carter Bankshares, Inc. | CARE | $631M | 20.12 | 1.50 | 7.5% | - |
| Peer Median | - | 11.87 | 1.31 | 10.5% | -4.62 | |