HGTY Financial Services

Hagerty, Inc.

$17.03+7.17%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Financial Services
Industry: Insurance - Property & Casualty
Country: United States
Market cap: 5.9B USD
Full-time employees: 1,891

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #675 of 791 banks & insurance companies (bottom 15%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $500M in 2020 to $1.5B in 2025.
Hagerty's fiscal-year revenue rose in each of the five years to 2025, from $500M to $1.5B.

StockQuotient Score

33/ 100

Oct 5 33 → Nov 4 33

Valuation

Is the price right?

2/100

Weak

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ P/B
▼ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield3.6%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile40% base weight · Z-score -2.06Sector median: 0.7950 · MAD: 0.2843

Earnings yield1.2%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score -2.65Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yield2.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield4.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

6/100

Weak

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth-31.5%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score -2.67Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth16.6%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth3.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

90/100

Strong

2/2 inputs reported · High confidence

Since last quarter: ▼ Weaker

Net margin fell 2.6 points to 4.9%

Why

Stronger than most peers on:

▲ ROE
▲ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets3.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 3.34Sector median: 0.0117 · MAD: 0.0062

Return on equity32.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile50% base weight · Z-score 4.29Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin8.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Hagerty

Is Hagerty getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: net margin fell 2.6 points to 4.9%. Its overall score is unchanged at 33/100 since Oct 28, 2026.
How is Hagerty valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 950 banks & insurance peers. Book yield 3.6% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 3.6% vs peers 79.5% (weaker than 100% of peers).
Is Hagerty growing?: More slowly than most of its peers. Growth scores 6/100 against 950 banks & insurance peers. Earnings per share growth -31.5% vs a peer median of 16.0% (weaker than 94% of peers).Earnings per share growth -31.5% vs peers 16.0% (weaker than 94% of peers).
How profitable is Hagerty?: More profitable than most of its peers. Profitability scores 90/100 against 950 banks & insurance peers. Return on equity 32.5% vs a peer median of 10.7% (stronger than 95% of peers).Return on equity 32.5% vs peers 10.7% (stronger than 95% of peers).
How risky is Hagerty?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Net margin fell 2.6 points to 4.9%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.4B USD	1.4B USD	−1.7%
Net income (12 months)	109.2M USD	70.0M USD	−35.9%
Free cash flow (12 months)	164.6M USD	278.5M USD	+69.2%
Debt	228.6M USD	216.0M USD	−5.5%
Cash	212.4M USD	298.3M USD	+40.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Insurance - Property & Casualty · 31 companies

Valuations in Insurance - Property & Casualty are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
32% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +14% and earnings +58% (medians): earnings grew faster than prices.
Median price-to-book is −38% vs the whole market, against a usual −47%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-1.6%	-8.6%	1.0%	5.3%	12.4%	▲ 7.0 pts
Net margin	-7.5%	4.1%	2.7%	6.3%	10.2%	▲ 3.9 pts
Return on assets (ROA)	-4.4%	2.4%	1.8%	4.6%	7.1%	▲ 2.5 pts
Return on equity (ROE)	—	54.1%	30.4%	52.1%	67.4%	▲ 15 pts
Debt to equity	—	1.83×	1.45×	0.71×	0.80×	▲ 13%
Interest coverage	—	—	1.93×	47.58×	33.10×	▼ 30%

HGTY price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #675 of 791 banks & insurance companies (bottom 15%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Questions investors ask about Hagerty

Is Hagerty getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: net margin fell 2.6 points to 4.9%. Its overall score is unchanged at 33/100 since Oct 28, 2026.

How is Hagerty valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 950 banks & insurance peers. Book yield 3.6% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 3.6% vs peers 79.5% (weaker than 100% of peers).

Is Hagerty growing?

More slowly than most of its peers. Growth scores 6/100 against 950 banks & insurance peers. Earnings per share growth -31.5% vs a peer median of 16.0% (weaker than 94% of peers).Earnings per share growth -31.5% vs peers 16.0% (weaker than 94% of peers).

How profitable is Hagerty?

More profitable than most of its peers. Profitability scores 90/100 against 950 banks & insurance peers. Return on equity 32.5% vs a peer median of 10.7% (stronger than 95% of peers).Return on equity 32.5% vs peers 10.7% (stronger than 95% of peers).

How risky is Hagerty?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.4B USD

1.4B USD

−1.7%

Net income (12 months)

109.2M USD

70.0M USD

−35.9%

Free cash flow (12 months)

164.6M USD

278.5M USD

+69.2%

Debt

228.6M USD

216.0M USD

−5.5%

Cash

212.4M USD

298.3M USD

+40.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-1.6%

-8.6%

1.0%

5.3%

12.4%

▲ 7.0 pts

Net margin

-7.5%

4.1%

2.7%

6.3%

10.2%

▲ 3.9 pts

Return on assets (ROA)

-4.4%

2.4%

1.8%

4.6%

7.1%

▲ 2.5 pts

Return on equity (ROE)

—

54.1%

30.4%

52.1%

67.4%

▲ 15 pts

Debt to equity

—

1.83×

1.45×

0.71×

0.80×

▲ 13%

Interest coverage

—

1.93×

47.58×

33.10×

▼ 30%