Safety Insurance (SAFT) financial statements
Safety Insurance reported revenue of $1.3B in fiscal 2025, up 4.9% a year over 9 years.
Net income was $99M and the operating margin 10.0%, against 11.4% in 2016.
Free cash flow was $192M, and the company returned $54M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Safety Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $820M | $839M | $836M | $878M | $846M | $885M | $798M | $931M | $1.1B | $1.3B |
| Operating income | $93M | $87M | $104M | $124M | $175M | $164M | $60M | $24M | $90M | $127M |
| Interest expense | $90,000 | $90,000 | $90,000 | $90,000 | $440,000 | $522,000 | $524,000 | $818,000 | $509,000 | $2M |
| Pre-tax income | $93M | $87M | $104M | $124M | $175M | $164M | $60M | $24M | $90M | $127M |
| Income tax | $29M | $24M | $21M | $24M | $37M | $34M | $13M | $6M | $19M | $27M |
| Net income | $65M | $62M | $83M | $100M | $138M | $131M | $47M | $19M | $71M | $99M |
| EPS (diluted) | $4.27 | $4.10 | $5.43 | $6.46 | $9.18 | $8.80 | $3.15 | $1.28 | $4.78 | $6.70 |
| Diluted shares | 15M | 15M | 15M | 15M | 15M | 15M | 15M | 15M | 15M | 15M |
| Operating margin | 11.4% | 10.3% | 12.5% | 14.1% | 20.7% | 18.6% | 7.5% | 2.6% | 8.0% | 10.0% |
| Net margin | 7.9% | 7.4% | 9.9% | 11.3% | 16.3% | 14.8% | 5.8% | 2.0% | 6.3% | 7.9% |
Balance sheet
Fiscal years, from Safety Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $20M | $42M | $38M | $44M | $54M | $64M | $25M | $38M | $59M | $74M |
| Property, plant and equipment | $9M | $10M | $16M | $20M | $22M | $23M | $18M | $12M | $5M | $7M |
| Goodwill | — | — | — | — | — | — | $17M | $17M | $17M | $17M |
| Total assets | $1.8B | $1.8B | $1.9B | $2.0B | $2.1B | $2.1B | $2.0B | $2.1B | $2.3B | $2.5B |
| Long-term debt | — | — | — | $0 | $30M | $30M | $35M | — | — | — |
| Total liabilities | $1.1B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B | $1.2B | $1.3B | $1.4B | $1.6B |
| Shareholders' equity | $671M | $701M | $719M | $808M | $885M | $927M | $812M | $804M | $828M | $892M |
| Net debt | -$20M | -$42M | -$38M | -$44M | -$24M | -$34M | $10M | -$38M | -$59M | -$74M |
Cash flow
Fiscal years, from Safety Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $99M | $82M | $128M | $112M | $109M | $141M | $44M | $52M | $129M | $194M |
| Capital spending | $5M | $6M | $11M | $10M | $10M | $8M | $2M | $2M | $4M | $3M |
| Free cash flow | $94M | $76M | $117M | $103M | $100M | $133M | $42M | $50M | $124M | $192M |
| Stock-based compensation | $4M | $5M | $7M | $6M | $7M | $6M | $6M | $4M | $4M | $5M |
| Dividends paid | $42M | $45M | $49M | $53M | $55M | $54M | $53M | $53M | $53M | $54M |
| Free cash flow margin | 11.5% | 9.1% | 13.9% | 11.7% | 11.8% | 15.0% | 5.3% | 5.4% | 11.1% | 15.2% |
| Dividends per share | $2.81 | $3.00 | $3.21 | $3.43 | $3.61 | $3.62 | $3.61 | $3.62 | $3.62 | $3.65 |
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Open SAFT in InvestinglyQuestions
What was Safety Insurance's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Safety Insurance generate?
$192M in fiscal 2025 (operating cash flow minus capital spending).
From Safety Insurance's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.