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Palomar Holdings, Inc., a specialty insurance company, provides property and casualty insurance to individuals and businesses in the United States. The company offers personal and commercial specialty insurance products, including residential and commercial earthquake; fronting; and inland marine and other property products, such as inland marine, Hawaii hurricane, excess national property, residential flood, and other property products, as well as assumed reinsurance and crop insurance products. It markets and distributes its products through retail agents, program administrators, wholesale brokers, and strategic partnerships. The company was formerly known as GC Palomar Holdings and changed its name to Palomar Holdings, Inc. The company was incorporated in 2013 and is headquartered in La Jolla, California.
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 | $876M | - | $197M | $402M | 20.9% | 58.2% | 67.6% |
| 2024 | $554M | - | $118M | $253M | 16.1% | 47.3% | 48.4% |
| 2023 | $376M | - | $79M | $109M | 16.8% | 14.9% | 51.8% |
| 2022 | $327M | - | $52M | $164M | 13.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 327.09 | 375.93 | 553.86 | 875.97 |
| EBIT | 68.42 | 107.42 | 152.33 | 253.78 |
| Pretax Income | 67.55 | 103.64 | 151.20 | 253.39 |
| Tax Provision | 15.38 | 24.44 | 33.62 | 56.32 |
| Net Income | 52.17 | 79.20 | 117.57 | 197.07 |
| Net Income Common Stockholders | 52.17 | 79.20 | 117.57 | 197.07 |
| Total Expenses | 259.54 | 272.28 | 402.67 | 622.58 |
| Interest Expense | 0.87 | 3.78 | 1.14 | 0.39 |
| Interest Income | 14.37 | 24.22 | 36.51 | 57.03 |
| Normalized Income | 52.17 | 79.20 | 117.57 | 197.07 |
| Market Cap | 3,342.51 | 3,342.51 | 3,342.51 | 3,342.51 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Palomar Holdings, Inc.this co. | PLMR | - | 16.96 | 3.55 | 20.9% | - |
| Seacoast Banking Corporation of Florida | SBCF | $2.8B | 21.13 | 1.13 | 5.3% | - |
| Merchants Bancorp | MBIN | $2.8B | 10.29 | 1.30 | 12.6% | - |
| Artisan Partners Asset Management Inc. | APAM | $2.7B | 9.24 | 6.11 | 66.2% | 5.40 |
| The Bancorp, Inc. | TBBK | $2.6B |
| 10.71 |
| 3.54 |
| 33.1% |
| - |
| Acadian Asset Management Inc. | AAMI | $2.5B | 30.27 | 39.96 | 132.0% | 14.22 |
| WisdomTree, Inc. | WT | $2.3B | 21.24 | 5.60 | 26.4% | 16.65 |
| Hilltop Holdings Inc. | HTH | $2.3B | 12.95 | 0.99 | 7.6% | - |
| Stewart Information Services Corporation | STC | $2.0B | 18.87 | 1.33 | 7.0% | - |
| Peer Median | - | 15.91 | 2.44 | 19.5% | 14.22 | |