Heritage Insurance Hldgs (HRTG) financial statements
Heritage Insurance Hldgs reported revenue of $847M in fiscal 2025, up 7.6% a year over 9 years.
Net income was $196M and the operating margin 31.5%, against 12.9% in 2016.
Free cash flow was $174M.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Heritage Insurance Hldgs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $439M | $407M | $480M | $511M | $593M | $632M | $662M | $735M | $817M | $847M |
| Selling, general and admin | $59M | $72M | $89M | $81M | $82M | $66M | $70M | $78M | $85M | $93M |
| Operating income | $57M | $50M | $70M | $50M | $10M | -$68M | -$157M | $63M | $94M | $267M |
| Interest expense | $362,000 | $13M | $20M | $9M | $8M | $8M | $9M | $11M | $11M | $8M |
| Pre-tax income | $56M | -$6M | $39M | $41M | $2M | -$76M | -$166M | $52M | $83M | $259M |
| Income tax | $23M | -$5M | $12M | $12M | -$7M | -$1M | -$12M | $7M | $21M | $64M |
| Net income | $34M | -$1M | $27M | $29M | $9M | -$75M | -$154M | $45M | $62M | $196M |
| EPS (diluted) | $1.14 | -$0.04 | $1.04 | $0.98 | $0.33 | -$2.69 | -$5.86 | $1.73 | $2.01 | $6.32 |
| Diluted shares | 30M | 27M | 26M | 29M | 28M | 28M | 26M | 26M | 31M | 31M |
| Operating margin | 12.9% | 12.2% | 14.5% | 9.7% | 1.7% | -10.8% | -23.8% | 8.6% | 11.5% | 31.5% |
| Net margin | 7.7% | -0.3% | 5.7% | 5.6% | 1.6% | -11.8% | -23.3% | 6.2% | 7.5% | 23.1% |
Balance sheet
Fiscal years, from Heritage Insurance Hldgs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $106M | $154M | $250M | $268M | $441M | $359M | $281M | $464M | $453M | $559M |
| Receivables | $43M | $68M | $57M | $64M | $77M | $72M | $93M | $89M | $102M | $95M |
| Property, plant and equipment | $17M | $19M | $18M | $21M | $19M | $17M | $26M | $33M | $38M | $28M |
| Goodwill | $46M | $152M | $152M | $152M | $152M | $92M | $0 | — | — | — |
| Total assets | $1.0B | $1.8B | $1.8B | $1.9B | $2.1B | $2.0B | $2.4B | $2.1B | $2.5B | $2.2B |
| Total liabilities | $675M | $1.4B | $1.3B | $1.5B | $1.6B | $1.6B | $2.3B | $1.9B | $2.2B | $1.7B |
| Shareholders' equity | $358M | $380M | $425M | $449M | $442M | $343M | $131M | $220M | $291M | $505M |
| Net debt | -$106M | -$154M | -$250M | -$268M | -$441M | -$359M | -$281M | -$464M | -$453M | -$559M |
Cash flow
Fiscal years, from Heritage Insurance Hldgs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $83M | $7M | $96M | $120M | $170M | $60M | -$34M | $70M | $87M | $182M |
| Capital spending | $2M | $385,000 | $2M | $5M | $755,000 | $1M | $15M | $10M | $8M | $8M |
| Free cash flow | $81M | $7M | $94M | $115M | $169M | $59M | -$50M | $61M | $79M | $174M |
| Stock-based compensation | $5M | $5M | $5M | $5M | $5M | $1M | $2M | $1M | $3M | $5M |
| Dividends paid | $7M | $8M | $6M | $7M | $7M | $7M | $5M | $11,000 | — | — |
| Share buybacks (net) | -$26M | -$62M | -$2M | -$16M | -$10M | -$8M | -$7M | $0 | $0 | — |
| Net borrowing | — | — | $35M | -$16M | -$9M | -$2M | $30M | -$10M | -$10M | -$6M |
| Free cash flow margin | 18.5% | 1.7% | 19.6% | 22.4% | 28.6% | 9.4% | -7.5% | 8.2% | 9.7% | 20.6% |
| Dividends per share | $0.23 | $0.31 | $0.24 | $0.24 | $0.24 | $0.24 | $0.18 | $0.00 | — | — |
Questions
What was Heritage Insurance Hldgs's revenue in 2025?
$847M in fiscal 2025, from its 10-K filing.
How much free cash flow does Heritage Insurance Hldgs generate?
$174M in fiscal 2025 (operating cash flow minus capital spending).
From Heritage Insurance Hldgs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.