Hagerty, Inc.
$16.17
+0.37 (+2.34%) · delayed · Nov 13, 2026
Five-year price
52w $9.36 to $19.41
- Market cap
- —
- Enterprise value
- —
- P/E
- —
- EV / EBIT
- —
- FCF yield
- —
- ROIC
- —
- Debt / equity
- 0.80
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
60
- ○ROIC > 12% (5y avg)5y avg ROIC -6.2%
- ●ROE > 15% (5y avg)5y avg ROE 51.0%
- ○Stable operating marginsMargin volatility 10.7% (σ, 5y)
- ●Earnings convert to cashFCF / net income 186% (5y avg)
- ●Growing revenueRevenue CAGR 5y 19.4%
- –Shrinking share countDiluted shares n/a over 5y
Value
n/a
- –P/E below 15P/E n/a
- –EV/EBIT below 12EV/EBIT n/a
- –FCF yield above 6%FCF yield n/a
- –Price below Graham NumberGraham Number n/a
- –P/B below 3P/B n/a
Safety
33
- ○Debt / equity below 0.5D/E 0.80
- ●Debt payable in < 4 yrs of earningsNet debt $0.0B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
n/a
- ○Adequate size (revenue > $2B)Revenue $0.7B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- –Earnings stability (no loss, 10y)6 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)n/a
- –Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) n/a
- –P/E × P/B ≤ 22.5Product n/a
Valuation lab
What do you have to believe?
A cash-flow valuation isn’t meaningful here: free cash flow is negative or not reported (common for banks, insurers and early-stage companies). Use book value and earnings power instead.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 279 | 323 | 384 | 464 | 549 | 678 |
| Gross profit | — | — | — | — | — | — |
| Operating income | 16 | (10) | (68) | 10 | 66 | — |
| Operating margin | 5.7% | -3.1% | -17.6% | 2.2% | 12.1% | — |
| Pre-tax income | 15 | (55) | 11 | 45 | 94 | 139 |
| Income tax | 5 | 7 | 7 | 17 | 15 | (10) |
| Net income | 10 | (46) | 32 | 28 | 78 | 149 |
| EPS (diluted) | 101.66 | -0.56 | 0.39 | — | — | — |
| Diluted shares | 0 | 82 | — | — | — | — |
Who owns it