Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsFlagged areas: Solvency & liquidity, Dilution.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 2 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +23.5% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin improved
Operating margin changed +9.9 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2024-12-31.
- Free cash flow was positive
Latest reported free cash flow was $194M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Insurance Segment$1.34Bshare n/a+12.7% yoy
- Marketplace Segment$120Mshare n/a+116.6% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Commission Revenue And Fee Revenue$486Mshare n/a+14.9% yoy
- Commission And Fee Revenue$434Mshare n/a+13.7% yoy
- Membership And Other Revenue$82.4Mshare n/a+4.4% yoy
- Contingent Commission$52.7Mshare n/a+25.6% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- United States$617M91.0%+20.3% yoy
- Outside the United States$61.1M9.0%+69.9% yoy
Members sum to the consolidated $678M for this period.
- Insurance Segment$286M91.7%-4.4% yoy
- Marketplace Segment$25.9M8.3%-11.5% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 3,990 US-listed filers · 819 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $678M | 49thof 3,301 middle third | 56thof 540 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 23.5% | 81stof 3,137 top third | 79thof 517 top third |
Net margin net income ÷ revenue | 22.0% | 87thof 3,263 top third | 58thof 533 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 28.7% | 90thof 2,679 top third | 56thof 306 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 67.4% | 98thof 3,576 top third | 98thof 772 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 2.8% | 45thof 2,895 middle third | 54thof 421 middle third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 52 days | 46thof 2,398 middle third | 37thof 103 middle third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 0.1× | 78thof 1,546 top third | 64thof 295 middle third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.5× | 42ndof 1,118 middle third | 55thof 263 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -3.7% | 45thof 1,333 middle third | 70thof 288 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 22.6% | 22ndof 1,073 bottom third | 24thof 277 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 18 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Total assets Assets | balance at 2020-12-31 | $55K 10-Q 2021-08-10 | $611M 10-K 2022-03-24 | +1110281.8% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2020-12-31 | $56.5K 10-Q 2021-08-10 | $493M 10-K 2022-03-24 | +873618.8% | first · latest · 3 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-03-31 | $216K 10-Q 2021-05-13 | $41.3M 10-Q 2022-05-09 | +18984.7% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2021-03-31 | -$124K 10-Q 2021-05-13 | $21M 10-Q 2022-05-09 | +17069.6% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-09-30 | $408K 10-Q 2021-11-12 | $47.9M 10-Q 2022-11-10 | +11644.7% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-06-30 | -$279K 10-Q 2021-08-10 | $14.3M 10-Q 2022-08-10 | +5223.3% | first · latest · 3 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-06-30 | $1.45M 10-Q 2021-08-10 | $49.1M 10-Q 2022-08-10 | +3294.7% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-09-30 | -$1.19M 10-Q 2021-11-12 | $1.76M 10-Q 2022-11-10 | +247.5% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-06-30 | $5M 10-Q 2021-08-10 | -$4.92M 10-Q 2021-11-12 | -198.4% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2021-09-30 | 3,447,500 shares 10-Q 2021-11-12 | 100,000 shares 10-Q 2022-11-10 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2021-09-30 | 3,447,500 shares 10-Q 2021-11-12 | 100,000 shares 10-Q 2022-11-10 | -97.1% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2025-12-31 | $96.2M 10-K 2026-02-26 | $98.9M 10-Q 2026-08-05 | +2.8% | first · latest · 3 filings carry it |
| Debt issued ProceedsFromIssuanceOfLongTermDebt | fiscal year 2021-12-31 | $110M 10-K 2022-03-24 | $108M 10-K 2024-03-12 | -1.8% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2024-09-30 | $158M 10-Q 2024-11-07 | $155M 10-Q 2025-11-04 | -1.4% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2024-06-30 | $156M 10-Q 2024-08-06 | $153M 10-Q 2025-08-04 | -1.4% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2024-03-31 | $120M 10-Q 2024-05-07 | $119M 10-Q 2025-05-07 | -1.3% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2023-12-31 | $468M 10-K 2024-03-12 | $464M 10-K 2026-02-26 | -0.9% | first · latest · 3 filings carry it |
| Long-term debt LongTermDebt | balance at 2024-12-31 | $105M 10-K 2025-03-04 | $106M 10-K 2026-02-26 | +0.8% | first · latest · 5 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for HGTY yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.