A Business at a Glance
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Item 4. Information on the Company A. History and Development of the Company General Company Information Fidelis Insurance Group is a global specialty insurer headquartered in Bermuda, with offices in Ireland and the United Kingdom. The Group is comprised of a holding company, Fidelis Insurance Holdings Limited (“FIHL”), a Bermuda exempted company, incorporated under the Bermuda Companies Act on August 22, 2014, and its three principal operating subsidiaries: Fidelis Insurance Bermuda Limited (“FIBL”), Fidelis Underwriting Limited (“FUL”) and Fidelis Insurance Ireland DAC (“FIID”). The Group also has its own service company, FIHL (UK) Services Limited, with a branch in Ireland, and a Lloyd’s corporate member, Nameco (No 1404) Limited (the “Fidelis IG Corporate Member”), established on May 22, 2024 as a wholly owned subsidiary of FIBL, to facilitate its participation in Lloyd’s Syndicate 3123’s underwriting activity.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Revenue | 2.5B | 2.5B | 2.4B | 3.6B | 1.5B |
| Net Income | 226M | 226M | 113M | 2.1B | 53M |
| EPS | $2.11 | $2.11 | $0.98 | $18.65 | $0.26 |
| Free Cash Flow | -410M | -410M | 614M | 489M | 723M |
| ROIC | 9.5% | 7.3% | 3.9% | 73.6% | 2.2% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.35 | 0.35 | 0.18 | 0.18 | 0.23 |
| Dividends/Share | $0.49 | $0.50 | $0.40 | $0.00 | $0.00 |
| Operating Income | 276M | 276M | 136M | 2.0B | 80M |
| Operating Margin | 11.0% | 11.0% | 5.6% | 56.9% | 5.3% |
| ROE | 9.4% | 9.3% | 4.6% | 87.0% | 2.7% |
| Shares Outstanding | 107M | 107M | 116M | 114M | 202M |
| Metric | 2022 | 2023 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 1.5B | 3.6B | 2.4B | 2.5B | 2.5B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | 166M | 83M | 94M | 97M | 97M |
| EBIT | 80M | 2.0B | 136M | 276M | 276M |
| Op. Margin | 5.3% | 56.9% | 5.6% | 11.0% | 11.0% |
| Net Income | 53M | 2.1B | 113M | 226M | 226M |
| Net Margin | 3.5% | 59.3% | 4.7% | 9.0% | 9.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 2.2% | 73.6% | 3.9% | 7.3% | 9.5% |
| ROE | 2.7% | 87.0% | 4.6% | 9.3% | 9.4% |
| ROA | 0.6% | 21.3% | 1.0% | 1.9% | 1.8% |
| Cash Flow | |||||
| Op. Cash Flow | 741M | 495M | 618M | -408M | -408M |
| Free Cash Flow | 723M | 489M | 614M | -410M | -410M |
| Owner Earnings | 727M | 467M | 596M | -435M | -435M |
| CapEx | 19M | 6.4M | 4.6M | 1.2M | 1.2M |
| Maint. CapEx | 3.9M | 300K | 14M | 19M | 19M |
| Growth CapEx | 15M | 6.1M | 0 | 0 | 0 |
| D&A | 3.9M | 300K | 14M | 19M | 19M |
| CapEx/OCF | N/A | 1.3% | 0.7% | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 500K | 0 | 46M | 52M | 52M |
| Dividend Yield | N/A | N/A | 2.4% | N/A | 2.4% |
| Share Buybacks | 0 | 0 | 106M | 261M | 261M |
| Buyback Yield | N/A | N/A | 5.3% | 0.0% | 12.1% |
| Stock-Based Comp | 11M | 28M | 7.8M | 7.9M | 7.9M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | -3.2B | -3.6B | -4.1B | -3.3B | -30M |
| Cash & Equiv. | 1.2B | 712M | 743M | 873M | 873M |
| Long-Term Debt | 448M | 448M | 449M | 843M | 843M |
| Debt/Equity | 0.23 | 0.18 | 0.18 | 0.35 | 0.35 |
| Interest Coverage | 2.3 | 57.7 | 4.0 | 5.8 | 5.8 |
| Equity | 2.0B | 2.4B | 2.4B | 2.4B | 2.4B |
| Total Assets | 8.3B | 10.0B | 11.8B | 12.4B | 12.4B |
| Total Liabilities | 6.3B | 7.6B | 9.3B | 10.0B | 10.0B |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 500K | 437M | 504M | 676M | 676M |
| Working Capital | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 0.26 | 18.65 | 0.98 | 2.11 | 2.11 |
| Owner EPS | 3.59 | 4.09 | 5.16 | -4.07 | -4.07 |
| Book Value | 9.77 | 21.42 | 21.18 | 22.45 | 22.45 |
| Cash Flow/Share | 3.66 | 4.33 | 5.35 | -3.82 | 2.29 |
| Dividends/Share | 0.00 | 0.00 | 0.40 | 0.50 | 0.49 |
| Shares Out. | 202.3M | 114.3M | 115.6M | 106.9M | 106.9M |
| Valuation | |||||
| P/E Ratio | N/A | 0.7 | 17.7 | N/A | 9.5 |
| P/FCF | N/A | 2.9 | 3.3 | N/A | N/A |
| EV/EBIT | N/A | 0.5 | 10.1 | N/A | 7.7 |
| Price/Book | N/A | 0.6 | 0.8 | N/A | 0.9 |
| Price/Sales | N/A | 0.4 | 0.8 | N/A | 0.9 |
| FCF Yield | N/A | 34.7% | 30.5% | N/A | -19.0% |
| Market Cap | N/A | 1.4B | 2.0B | 0 | 2.2B |
| Avg. Price | N/A | 13.26 | 16.74 | 0.00 | 20.15 |
| Year-End Price | N/A | 12.33 | 17.38 | 0.00 | 20.15 |
Fidelis Insurance Holdings Ltd passes 6 of 9 quality checks, suggesting mixed fundamentals.
Fidelis Insurance Holdings Ltd trades at 20.6x trailing earnings, compared to its 15-year median P/E of 9.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 3.8x vs a median of 3.1x. The company's 5-year average ROIC is 21.8%. Total shareholder yield (dividends + buybacks) is 14.6%. At current prices, the estimated annualized return to fair value is +7.7%.
Fidelis Insurance Holdings Ltd (FIHL) has a current P/E ratio of 20.6, compared to its historical median P/E of 9.2. The stock is currently considered Expensive based on its historical valuation range.
Fidelis Insurance Holdings Ltd (FIHL) has a 5-year average return on invested capital (ROIC) of 21.8%. This indicates strong capital allocation and a potential competitive advantage.
Fidelis Insurance Holdings Ltd (FIHL) has a market capitalization of $2.2B. It is classified as a mid-cap stock.
Yes, Fidelis Insurance Holdings Ltd (FIHL) pays a dividend with a trailing twelve-month yield of 2.43%. The company also returns capital through share buybacks, with a buyback yield of 12.14%.
Based on historical P/E analysis, Fidelis Insurance Holdings Ltd (FIHL) appears expensive. The current P/E of 20.6 is 124% above its historical median of 9.2. The estimated fair value CAGR (P/E method) is -47.6%.
Fidelis Insurance Holdings Ltd (FIHL) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Fidelis Insurance Holdings Ltd (FIHL) reported annual revenue of $2.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Fidelis Insurance Holdings Ltd (FIHL) has a net profit margin of 9.0%. This is a modest margin.
Fidelis Insurance Holdings Ltd (FIHL) generated $-410 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Fidelis Insurance Holdings Ltd (FIHL) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
Fidelis Insurance Holdings Ltd (FIHL) reported earnings per share (EPS) of $2.11 in its most recent fiscal year.
Fidelis Insurance Holdings Ltd (FIHL) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
The Ledger Terminal provides 4 years of financial data for Fidelis Insurance Holdings Ltd (FIHL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Fidelis Insurance Holdings Ltd (FIHL) has a book value per share of $22.45, based on its most recent annual SEC filing.
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