A Business at a Glance
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Company Overview Core Differentiation Industry Trends Strategic Growth Pillars Government Regulation Human Capital Management Available Information Company Overview Introduction to Porch Porch Group, Inc., together with its consolidated subsidiaries, (“Porch,” the “Company,” “we,” “our,” “us”) is a new kind of homeowners insurance company—one designed to stand out in a massive and growing market of more than $100 billion. Our strategy is built on three differentiators that set us apart. 1.Advantaged Underwriting Through Proprietary Data Leveraging unique property insights, we can assess risk with greater precision, enabling competitive pricing for low-risk customers and avoiding high-risk customers, while delivering superior underwriting performance. 2.Best Services for Homebuyers We are committed to being the go-to partner during one of life’s most significant transitions—buying a home—by offering services that simplify moving and home setup. 3.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 482M | 482M | 438M | 430M | 276M | 192M |
| Net Income | -3.4M | -3.4M | -33M | -134M | -157M | -107M |
| EPS | $-0.03 | $-0.03 | $-0.33 | $-1.39 | $-1.61 | $-1.14 |
| Free Cash Flow | 66M | 66M | -32M | 33M | -20M | -36M |
| ROIC | -4.6% | 8.6% | -9.1% | -33.5% | -31.0% | -16.9% |
| Gross Margin | 70.5% | 70.5% | 46.1% | 48.8% | 61.0% | 69.5% |
| Debt/Equity | 0.00 | -16.27 | -9.35 | -12.22 | 5.77 | 1.91 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 37M | 37M | -65M | -190M | -177M | -83M |
| Operating Margin | 7.6% | 7.6% | -14.7% | -44.2% | -64.2% | -43.3% |
| ROE | 0.0% | - | - | - | -197.3% | -49.1% |
| Shares Outstanding | 112M | 112M | 99M | 96M | 97M | 94M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 78M | 72M | 192M | 276M | 430M | 438M | 482M | 482M |
| Gross Margin | 72.3% | 75.7% | 69.5% | 61.0% | 48.8% | 46.1% | 70.5% | 70.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 52M | 28M | 86M | 110M | 103M | 95M | 105M | 105M |
| EBIT | -88M | -42M | -83M | -177M | -190M | -65M | 37M | 37M |
| Op. Margin | -113.6% | -58.4% | -43.3% | -64.2% | -44.2% | -14.7% | 7.6% | 7.6% |
| Net Income | -103M | -71M | -107M | -157M | -134M | -33M | -3.4M | -3.4M |
| Net Margin | -133.2% | -98.6% | -55.4% | -56.7% | -31.1% | -7.5% | -0.7% | -0.7% |
| Non-Recurring | -5.0M | 1.4M | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | N/M | -47.4% | -16.9% | -31.0% | -33.5% | -9.1% | 8.6% | -4.6% |
| ROE | N/A | -66.4% | -49.1% | -197.3% | N/A | N/A | N/A | 0.0% |
| ROA | -213.2% | -26.6% | -10.3% | -14.9% | -14.9% | -4.0% | -0.4% | -0.4% |
| Cash Flow | ||||||||
| Op. Cash Flow | -29M | -49M | -35M | -18M | 34M | -32M | 66M | 66M |
| Free Cash Flow | -30M | -49M | -36M | -20M | 33M | -32M | 66M | 66M |
| Owner Earnings | -73M | -67M | -90M | -73M | -11M | -84M | 13M | 13M |
| CapEx | 478K | 279K | 972K | 2.4M | 851K | 523K | 454K | 454K |
| Maint. CapEx | 7.4M | 6.6M | 16M | 28M | 24M | 26M | 24M | 24M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 7.4M | 6.6M | 16M | 28M | 24M | 26M | 24M | 24M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 2.5% | N/A | 0.7% | 0.7% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 30M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 3.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 42K | 0 | 1.8M | 5.6M | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.0% | N/A | 1.2% | 1.8% | N/A | N/A | 0.0% |
| Stock-Based Comp | 36M | 11M | 39M | 27M | 21M | 27M | 29M | 29M |
| Debt Repayment | 202K | 82M | 47M | 5.2M | 10M | 23M | 68M | 68M |
| Balance Sheet | ||||||||
| Net Debt | 73M | -339M | 90M | 207M | 142M | 212M | 343M | 356M |
| Cash & Equiv. | 4.2M | 196M | 316M | 215M | 258M | 168M | 45M | 45M |
| Long-Term Debt | 41M | 43M | 415M | 425M | 435M | 404M | 385M | 385M |
| Debt/Equity | -1.36 | 0.49 | 1.91 | 5.77 | -12.22 | -9.35 | -16.27 | 0.00 |
| Interest Coverage | -12.4 | -2.9 | -14.5 | -20.3 | -6.0 | -1.5 | 0.7 | 0.7 |
| Equity | -60M | 107M | 217M | 79M | -36M | -43M | -25M | -25M |
| Total Assets | 48M | 268M | 1.0B | 1.0B | 899M | 814M | 797M | 797M |
| Total Liabilities | 108M | 161M | 822M | 970M | 935M | 857M | 775M | 775M |
| Intangibles | 28M | 44M | 355M | 353M | 279M | 261M | 222M | 222M |
| Retained Earnings | -263M | -318M | -424M | -585M | -722M | -755M | -648M | -648M |
| Working Capital | -47M | 184M | 242M | 95M | 19M | -49M | 20M | 20M |
| Current Assets | 10M | 216M | 605M | 611M | 481M | 365M | 88M | 88M |
| Current Liabilities | 57M | 32M | 363M | 516M | 462M | 414M | 68M | 68M |
| Per Share Data | ||||||||
| EPS | -3.31 | -2.03 | -1.14 | -1.61 | -1.39 | -0.33 | -0.03 | -0.03 |
| Owner EPS | -0.81 | -0.68 | -0.96 | -0.75 | -0.12 | -0.85 | 0.12 | 0.12 |
| Book Value | -0.67 | 1.09 | 2.32 | 0.82 | -0.37 | -0.43 | -0.22 | -0.22 |
| Cash Flow/Share | -0.33 | -0.50 | -0.37 | -0.18 | 0.35 | -0.32 | 0.59 | 0.19 |
| Dividends/Share | N/A | 0.31 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 89.4M | 98.1M | 93.5M | 97.2M | 96.4M | 99.5M | 112.0M | 112.0M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -227.0 |
| P/FCF | N/A | N/A | N/A | N/A | 9.5 | N/A | 15.2 | 11.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 36.7 | 30.6 |
| Price/Book | N/A | 13.5 | 7.2 | 2.0 | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | 14.0 | 8.8 | 1.6 | 0.3 | 0.6 | 2.4 | 1.6 |
| FCF Yield | N/A | -3.4% | -2.3% | -12.8% | 10.6% | -6.0% | 6.6% | 8.6% |
| Market Cap | N/A | 1.4B | 1.6B | 158M | 313M | 541M | 1.0B | 763M |
| Avg. Price | N/A | 10.34 | 18.05 | 4.57 | 1.50 | 2.61 | 10.42 | 6.81 |
| Year-End Price | N/A | 14.71 | 16.81 | 1.62 | 3.25 | 5.44 | 8.93 | 6.81 |
Porch Group, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 12.8x vs a median of 12.3x. The company's 5-year average gross margin is 59.2%. At current prices, the estimated annualized return to fair value is -6.7%.
Porch Group, Inc. (PRCH) has a 5-year average return on invested capital (ROIC) of -16.4%. This is below average and may indicate limited pricing power.
Porch Group, Inc. (PRCH) has a market capitalization of $763M. It is classified as a small-cap stock.
Porch Group, Inc. (PRCH) does not currently pay a regular dividend.
Porch Group, Inc. (PRCH) operates in the Services-Prepackaged Software industry, within the Technology sector.
Porch Group, Inc. (PRCH) reported annual revenue of $482 million in its most recent fiscal year, based on SEC EDGAR filings.
Porch Group, Inc. (PRCH) has a net profit margin of -0.7%. The company is currently unprofitable.
Porch Group, Inc. (PRCH) generated $66 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Porch Group, Inc. (PRCH) reported earnings per share (EPS) of $-0.03 in its most recent fiscal year.
Porch Group, Inc. (PRCH) has a 5-year average gross margin of 59.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for Porch Group, Inc. (PRCH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Porch Group, Inc. (PRCH) has a book value per share of $-0.22, based on its most recent annual SEC filing.