A Business at a Glance
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Palomar Holdings, Inc.
PLMR
$3.8B
Mkt Cap
$137.56
+6.49%
Palomar Holdings, Inc. (PLMR) has a current P/E ratio of 19.2, compared to its historical median P/E of 21.9. The stock is currently considered Fair based on its historical valuation range.
Palomar Holdings, Inc. (PLMR) has a 5-year average return on invested capital (ROIC) of 16.8%. This indicates strong capital allocation and a potential competitive advantage.
Palomar Holdings, Inc. (PLMR) has a market capitalization of $3.6B. It is classified as a mid-cap stock.
Palomar Holdings, Inc. (PLMR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.02%.
Based on historical P/E analysis, Palomar Holdings, Inc. (PLMR) appears fair. The current P/E of 19.2 is 12% below its historical median of 21.9. The estimated fair value CAGR (P/E method) is 53.0%.
Palomar Holdings, Inc. (PLMR) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Palomar Holdings, Inc. (PLMR) reported annual revenue of $876 million in its most recent fiscal year, based on SEC EDGAR filings.
Who We Are We are a specialty insurance company that provides property and casualty insurance products to individuals and businesses. We leverage underwriting expertise and data-driven analytics to offer innovative solutions in five product categories: Earthquake, Casualty, Inland Marine and Other Property, Crop, and Fronting. We offer coverage in both the admitted and excess and surplus lines (“E&S”) markets, utilizing proprietary data analytics and a technology-enabled platform to support customized underwriting and pricing. Our insurance company subsidiaries, Palomar Specialty Insurance Company (“PSIC”), Palomar Excess and Surplus Insurance Company (“PESIC”), and First Indemnity of America Insurance Co. (“FIA”) carry an “A” financial strength rating from A.M. Best Company (“A.M. Best”), a leading rating agency for the insurance industry.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 980M | 876M | 554M | 376M | 327M | 248M |
| Net Income | 197M | 197M | 118M | 79M | 52M | 46M |
| EPS | $7.42 | $7.17 | $4.48 | $3.13 | $2.02 | $1.76 |
| Free Cash Flow | 369M | 409M | 261M | 116M | 169M | 88M |
| ROIC | 0.0% | 23.6% | 18.8% | 16.8% | 12.8% | 12.1% |
| Gross Margin | - | 73.4% | 75.4% | 29.8% | 75.6% | 23.1% |
| Debt/Equity | 0.31 | 2.24 | 0.00 | 0.11 | 0.09 | 1.35 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 253M | 151M | 104M | 68M | 57M |
| Operating Margin | 0.0% | 28.9% | 27.3% | 27.6% | 20.7% | 23.1% |
| ROE | 20.6% | 23.6% | 19.6% | 18.5% | 13.4% | 12.1% |
| Shares Outstanding | 27M | 27M | 26M | 25M | 26M | 26M |
| Metric | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 59M | 73M | 113M | 168M | 248M | 327M | 376M | 554M | 876M | 980M |
| Gross Margin | 8.3% | 25.0% | 16.0% | 3.7% | 23.1% | 75.6% | 29.8% | 75.4% | 73.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 4.9M | 18M | 18M | 6.2M | 57M | 68M | 104M | 151M | 253M | 0 |
| Op. Margin | 8.3% | 25.0% | 16.0% | 3.7% | 23.1% | 20.7% | 27.6% | 27.3% | 28.9% | 0.0% |
| Net Income | 3.8M | 18M | 11M | 6.3M | 46M | 52M | 79M | 118M | 197M | 197M |
| Net Margin | 6.4% | 25.0% | 9.4% | 3.7% | 18.5% | 15.9% | 21.1% | 21.2% | 22.5% | 20.1% |
| Non-Recurring | -1K | 0 | -1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||||
| ROIC | N/A | 18.8% | 6.4% | 2.1% | 12.1% | 12.8% | 16.8% | 18.8% | 23.6% | 0.0% |
| ROE | N/A | 20.9% | 6.7% | 2.1% | 12.1% | 13.4% | 18.5% | 19.6% | 23.6% | 20.6% |
| ROA | N/A | 15.8% | 3.4% | 1.1% | 5.5% | 4.7% | 5.3% | 5.9% | 7.4% | 5.5% |
| Cash Flow | ||||||||||
| Op. Cash Flow | 20M | 23M | 45M | 57M | 88M | 170M | 116M | 261M | 409M | 369M |
| Free Cash Flow | 20M | 22M | 44M | 57M | 88M | 169M | 116M | 261M | 409M | 369M |
| Owner Earnings | 20M | 23M | 20M | 54M | 79M | 154M | 97M | 239M | 379M | 335M |
| CapEx | 68K | 332K | 115K | 132K | 18K | 313K | 15K | 243K | 137K | 102K |
| Maint. CapEx | 160K | 212K | 216K | 1.3M | 3.5M | 4.1M | 4.5M | 5.1M | 8.9M | 8.9M |
| Growth CapEx | 0 | 120K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 160K | 212K | 216K | 1.3M | 3.5M | 4.1M | 4.5M | 5.1M | 8.9M | 8.9M |
| CapEx/OCF | N/A | N/A | 0.3% | 0.2% | 0.0% | 0.2% | 0.0% | 0.1% | 0.0% | 0.0% |
| Capital Allocation | ||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 16M | 34M | 22M | 0 | 37M | 37M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | 1.0% | 3.0% | 1.6% | N/A | 1.0% | 1.0% |
| Stock-Based Comp | 0 | 0 | 24M | 2.2M | 5.6M | 12M | 15M | 17M | 21M | 25M |
| Debt Repayment | 0 | 18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||||
| Net Debt | N/A | -113M | N/A | N/A | N/A | -547M | -643M | -1.0B | N/A | -1.2B |
| Cash & Equiv. | 11M | 9.5M | 33M | 34M | 50M | 68M | 52M | 80M | 107M | 1.5B |
| Long-Term Debt | N/A | 19M | N/A | N/A | N/A | 36M | 53M | 0 | N/A | 297M |
| Debt/Equity | N/A | 0.20 | 0.81 | 1.00 | 1.35 | 0.09 | 0.11 | 0.00 | 2.24 | 0.31 |
| Interest Coverage | 2.8 | 7.9 | 16.9 | N/A | 1428.5 | 77.4 | 27.5 | 132.9 | 646.4 | 646.4 |
| Equity | N/A | 96M | 219M | 364M | 394M | 385M | 471M | 729M | 943M | 959M |
| Total Assets | N/A | 231M | 395M | 729M | 926M | 1.3B | 1.7B | 2.3B | 3.1B | 3.6B |
| Total Liabilities | N/A | 135M | 177M | 365M | 532M | 922M | 1.2B | 1.5B | 2.1B | 2.7B |
| Intangibles | N/A | 744K | 744K | 12M | 9.5M | 8.3M | 744K | 744K | 2.3M | 0 |
| Retained Earnings | N/A | 28M | 34M | 40M | 70M | 88M | 145M | 262M | 422M | 442M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||||||
| EPS | 0.22 | 1.07 | 0.49 | 0.24 | 1.76 | 2.02 | 3.13 | 4.48 | 7.17 | 7.42 |
| Owner EPS | 1.17 | 1.33 | 0.93 | 2.07 | 3.02 | 5.96 | 3.82 | 9.12 | 13.80 | 12.63 |
| Book Value | N/A | 5.66 | 10.08 | 13.95 | 15.13 | 14.90 | 18.62 | 27.78 | 34.30 | 36.17 |
| Cash Flow/Share | 1.18 | 1.34 | 2.05 | 2.21 | 3.37 | 6.57 | 4.59 | 9.95 | 14.89 | 7.77 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 17.2M | 17.0M | 21.7M | 26.1M | 26.0M | 25.8M | 25.3M | 26.2M | 27.5M | 26.5M |
| Valuation | ||||||||||
| P/E Ratio | N/A | N/A | 103.3 | 385.7 | 36.4 | 21.9 | 17.8 | 23.3 | 18.8 | 18.5 |
| P/FCF | N/A | N/A | 24.7 | 42.1 | 19.0 | 6.8 | 12.1 | 10.5 | 9.1 | 9.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 5.0 | 6.6 | 4.2 | 3.0 | 3.0 | 3.8 | 3.9 | 3.8 |
| Price/Sales | N/A | N/A | 6.5 | 11.6 | 8.5 | 5.1 | 3.7 | 4.1 | 4.1 | 3.7 |
| FCF Yield | N/A | N/A | 4.0% | 2.4% | 5.3% | 14.8% | 8.2% | 9.5% | 11.0% | 10.1% |
| Market Cap | 0 | N/A | 1.1B | 2.4B | 1.7B | 1.1B | 1.4B | 2.7B | 3.7B | 3.6B |
| Avg. Price | 0.00 | N/A | 34.01 | 75.05 | 80.81 | 64.90 | 54.32 | 85.86 | 130.28 | 137.56 |
| Year-End Price | 0.00 | N/A | 50.64 | 92.56 | 63.98 | 44.28 | 55.71 | 104.39 | 134.78 | 137.56 |
Palomar Holdings, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Palomar Holdings, Inc. trades at 19.2x trailing earnings, compared to its 15-year median P/E of 21.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.0x vs a median of 12.1x. The company's 5-year average ROIC is 16.8% with a gross margin of 55.4%. Total shareholder yield (buybacks) is 1.0%. At current prices, the estimated annualized return to fair value is +33.5%.
Palomar Holdings, Inc. (PLMR) has a net profit margin of 22.5%. This is a strong margin indicating high profitability.
Palomar Holdings, Inc. (PLMR) generated $409 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Palomar Holdings, Inc. (PLMR) has a debt-to-equity ratio of 2.24. This indicates higher leverage, which may increase financial risk.
Palomar Holdings, Inc. (PLMR) reported earnings per share (EPS) of $7.17 in its most recent fiscal year.
Palomar Holdings, Inc. (PLMR) has a return on equity (ROE) of 23.6%. This indicates the company generates strong returns for shareholders.
Palomar Holdings, Inc. (PLMR) has a 5-year average gross margin of 55.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 9 years of financial data for Palomar Holdings, Inc. (PLMR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Palomar Holdings, Inc. (PLMR) has a book value per share of $34.30, based on its most recent annual SEC filing.