A Business at a Glance
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SAFETY INSURANCE GROUP INC
SAFT
$1.5B
Mkt Cap
$103.20
+41.49%
SAFETY INSURANCE GROUP INC (SAFT) has a current P/E ratio of 15.4, compared to its historical median P/E of 11.6. The stock is currently considered Fair based on its historical valuation range.
SAFETY INSURANCE GROUP INC (SAFT) has a 5-year average return on invested capital (ROIC) of 8.3%. This is below average and may indicate limited pricing power.
SAFETY INSURANCE GROUP INC (SAFT) has a market capitalization of $1.5B. It is classified as a small-cap stock.
Yes, SAFETY INSURANCE GROUP INC (SAFT) pays a dividend with a trailing twelve-month yield of 3.54%. The company also returns capital through share buybacks, with a buyback yield of 1.31%.
Based on historical P/E analysis, SAFETY INSURANCE GROUP INC (SAFT) appears fair. The current P/E of 15.4 is 33% above its historical median of 11.6. The estimated fair value CAGR (P/E method) is -11.4%.
SAFETY INSURANCE GROUP INC (SAFT) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
We are a leading provider of private passenger automobile, commercial automobile, and homeowners insurance in Massachusetts. In addition to these coverages, we offer a portfolio of other insurance products, including dwelling fire, umbrella and business owner policies. Operating exclusively in Massachusetts, New Hampshire and Maine through our insurance company subsidiaries, Safety Insurance Company ("Safety Insurance"), Safety Indemnity Insurance Company ("Safety Indemnity"), Safety Property and Casualty Insurance Company ("Safety P&C"), and Safety Northeast Insurance Company (“Safety Northeast”) (together referred to as the "Insurance Subsidiaries"), we have established strong relationships with independent insurance agents, who numbered 797 in 1,063 locations throughout these three states during 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.1B | 931M | 798M | 885M |
| Net Income | 99M | 99M | 70M | 19M | 46M | 131M |
| EPS | $6.70 | $6.70 | $4.78 | $1.28 | $3.15 | $8.80 |
| Free Cash Flow | 192M | 192M | 124M | 50M | 42M | 133M |
| ROIC | 11.4% | 11.2% | 8.5% | 2.3% | 5.3% | 14.5% |
| Gross Margin | 10.0% | 10.0% | 8.0% | 2.6% | 7.5% | 18.6% |
| Debt/Equity | 0.06 | 0.06 | 0.04 | 0.07 | 0.04 | 0.03 |
| Dividends/Share | $3.65 | $3.64 | $3.60 | $3.60 | $3.60 | $3.60 |
| Operating Income | 127M | 127M | 90M | 24M | 60M | 164M |
| Operating Margin | 10.0% | 10.0% | 8.0% | 2.6% | 7.5% | 18.6% |
| ROE | 11.1% | 11.5% | 8.6% | 2.3% | 5.3% | 14.5% |
| Shares Outstanding | 15M | 15M | 15M | 15M | 15M | 15M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 779M | 798M | 820M | 839M | 836M | 878M | 846M | 885M | 798M | 931M | 1.1B | 1.3B | 1.3B |
| Gross Margin | 10.7% | -3.6% | 11.4% | 10.3% | 12.5% | 14.1% | 20.7% | 18.6% | 7.5% | 2.6% | 8.0% | 10.0% | 10.0% |
| R&D | N/A | N/A | N/A | 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 | N/A | N/A | N/A |
| EBIT | 83M | -29M | 93M | 87M | 104M | 124M | 175M | 164M | 60M | 24M | 90M | 127M | 127M |
| Op. Margin | 10.7% | -3.6% | 11.4% | 10.3% | 12.5% | 14.1% | 20.7% | 18.6% | 7.5% | 2.6% | 8.0% | 10.0% | 10.0% |
| Net Income | 59M | -14M | 64M | 62M | 83M | 99M | 139M | 131M | 46M | 19M | 70M | 99M | 99M |
| Net Margin | 7.6% | -1.7% | 7.8% | 7.4% | 9.9% | 11.3% | 16.4% | 14.8% | 5.8% | 2.0% | 6.3% | 7.8% | 7.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.5% | -2.0% | 9.8% | 9.0% | 11.7% | 13.0% | 16.4% | 14.5% | 5.3% | 2.3% | 8.5% | 11.2% | 11.4% |
| ROE | 8.5% | -2.0% | 9.8% | 9.0% | 11.7% | 13.0% | 16.4% | 14.5% | 5.3% | 2.3% | 8.6% | 11.5% | 11.1% |
| ROA | 3.6% | -0.8% | 3.7% | 3.5% | 4.5% | 5.1% | 6.8% | 6.3% | 2.3% | 0.9% | 3.2% | 4.2% | 4.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 98M | 23M | 99M | 82M | 128M | 112M | 109M | 141M | 44M | 52M | 129M | 194M | 194M |
| Free Cash Flow | 96M | 19M | 94M | 76M | 117M | 103M | 100M | 133M | 42M | 50M | 124M | 192M | 192M |
| Owner Earnings | 89M | 15M | 90M | 72M | 116M | 102M | 95M | 129M | 30M | 40M | 113M | 184M | 184M |
| CapEx | 1.8M | 4.0M | 4.9M | 6.0M | 11M | 9.6M | 9.9M | 8.2M | 2.1M | 1.8M | 4.4M | 2.5M | 2.5M |
| Maint. CapEx | 4.1M | 3.9M | 4.4M | 5.0M | 5.5M | 5.2M | 7.5M | 6.9M | 7.9M | 7.8M | 12M | 5.8M | 5.8M |
| Growth CapEx | 0 | 134K | 528K | 921K | 5.7M | 4.4M | 2.4M | 1.3M | 0 | 0 | 0 | 0 | 0 |
| D&A | 4.1M | 3.9M | 4.4M | 5.0M | 5.5M | 5.2M | 7.5M | 6.9M | 7.9M | 7.8M | 12M | 5.8M | 5.8M |
| CapEx/OCF | 1.8% | 17.7% | 5.0% | 7.3% | 8.8% | 8.5% | 9.1% | 5.8% | 4.7% | 3.4% | 3.4% | 1.3% | 1.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 39M | 42M | 42M | 45M | 49M | 53M | 55M | 54M | 53M | 53M | 53M | 54M | 54M |
| Dividend Yield | 7.9% | 7.8% | 6.9% | 6.0% | 5.3% | 5.0% | 6.0% | 5.6% | 4.9% | 5.5% | 4.8% | 5.0% | 3.5% |
| Share Buybacks | 23M | 0 | 0 | 0 | 0 | 0 | 40M | 12M | 15M | 5.2M | 0 | 20M | 20M |
| Buyback Yield | 4.0% | N/A | N/A | N/A | N/A | N/A | 4.3% | 1.1% | 1.3% | 0.5% | N/A | 1.7% | 1.3% |
| Stock-Based Comp | 4.7M | 3.8M | 4.3M | 4.8M | 6.2M | 5.6M | 6.9M | 5.8M | 6.0M | 4.3M | 4.5M | 4.8M | 4.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -42M | N/A | N/A | N/A | N/A | -44M | -24M | -34M | 9.7M | 22M | -1.1B | -1.3B | -24M |
| Cash & Equiv. | 42M | 47M | 20M | 42M | 38M | 44M | 54M | 64M | 25M | 38M | 59M | 74M | 74M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30M | N/A | 50M | 50M |
| Debt/Equity | 0.00 | 1.64 | 1.62 | 1.58 | 1.58 | 0.00 | 0.03 | 0.03 | 0.04 | 0.07 | 0.04 | 0.06 | 0.06 |
| Interest Coverage | 925.8 | -318.3 | 1036.5 | 963.3 | 1158.3 | 1374.2 | 397.2 | 314.7 | 113.7 | 29.9 | 176.6 | 82.8 | 82.8 |
| Equity | 708M | 644M | 671M | 701M | 719M | 808M | 885M | 927M | 812M | 804M | 828M | 892M | 892M |
| Total Assets | 1.7B | 1.7B | 1.8B | 1.8B | 1.9B | 2.0B | 2.1B | 2.1B | 2.0B | 2.1B | 2.3B | 2.5B | 2.5B |
| Total Liabilities | 967M | 1.1B | 1.1B | 1.1B | 1.1B | 1.2B | 1.2B | 1.2B | 1.2B | 1.3B | 1.4B | 1.6B | 1.6B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.9M | 7.6M | 7.7M | 6.8M | 6.8M |
| Retained Earnings | 588M | 532M | 554M | 571M | 617M | 662M | 745M | 822M | 815M | 781M | 799M | 844M | 844M |
| Working Capital | N/A | N/A | N/A | 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 | 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 | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 3.91 | -0.93 | 4.27 | 4.10 | 5.43 | 6.46 | 9.18 | 8.80 | 3.15 | 1.28 | 4.78 | 6.70 | 6.70 |
| Owner EPS | 5.85 | 1.02 | 6.00 | 4.77 | 7.62 | 6.63 | 6.28 | 8.63 | 2.07 | 2.72 | 7.65 | 12.47 | 12.47 |
| Book Value | 46.66 | 43.27 | 44.65 | 46.36 | 47.19 | 52.71 | 58.49 | 62.15 | 55.18 | 54.79 | 56.24 | 60.51 | 60.51 |
| Cash Flow/Share | 6.43 | 1.54 | 6.58 | 5.43 | 8.38 | 7.33 | 7.24 | 9.48 | 3.01 | 3.55 | 8.74 | 13.19 | 7.10 |
| Dividends/Share | 2.60 | 2.80 | 2.80 | 3.00 | 3.20 | 3.40 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.64 | 3.65 |
| Shares Out. | 15.2M | 14.9M | 15.0M | 15.1M | 15.2M | 15.3M | 15.1M | 14.9M | 14.7M | 14.7M | 14.7M | 14.7M | 14.7M |
| Valuation | |||||||||||||
| P/E Ratio | 10.0 | N/A | 11.6 | 13.8 | 11.0 | 10.8 | 6.8 | 7.9 | 23.4 | 53.8 | 16.2 | 11.6 | 15.4 |
| P/FCF | 6.2 | 28.7 | 7.9 | 11.3 | 7.8 | 10.4 | 9.4 | 7.8 | 25.6 | 20.1 | 9.2 | 6.0 | 7.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 11.8 |
| Price/Book | 0.8 | 0.8 | 1.1 | 1.2 | 1.3 | 1.3 | 1.1 | 1.1 | 1.3 | 1.3 | 1.4 | 1.3 | 1.7 |
| Price/Sales | 0.6 | 0.7 | 0.8 | 0.9 | 1.1 | 1.2 | 1.1 | 1.1 | 1.4 | 1.0 | 1.0 | 0.9 | 1.2 |
| FCF Yield | 16.2% | 3.5% | 12.5% | 8.8% | 12.8% | 9.6% | 10.6% | 12.9% | 3.9% | 5.0% | 10.9% | 16.7% | 12.6% |
| Market Cap | 592M | 542M | 749M | 862M | 914M | 1.1B | 935M | 1.0B | 1.1B | 1.0B | 1.1B | 1.1B | 1.5B |
| Avg. Price | 32.85 | 36.18 | 40.99 | 50.13 | 60.22 | 69.18 | 60.27 | 65.00 | 73.73 | 65.87 | 74.71 | 73.04 | 103.20 |
| Year-End Price | 39.01 | 36.36 | 49.52 | 56.67 | 59.62 | 69.74 | 62.11 | 69.26 | 73.57 | 68.85 | 77.22 | 77.47 | 103.20 |
SAFETY INSURANCE GROUP INC passes 3 of 9 quality checks, indicating weak fundamentals.
SAFETY INSURANCE GROUP INC trades at 15.4x trailing earnings, compared to its 15-year median P/E of 11.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.9x vs a median of 9.3x. The company's 5-year average ROIC is 8.3% with a gross margin of 9.3%. Total shareholder yield (dividends + buybacks) is 4.9%. At current prices, the estimated annualized return to fair value is -3.7%.
SAFETY INSURANCE GROUP INC (SAFT) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
SAFETY INSURANCE GROUP INC (SAFT) has a net profit margin of 7.8%. This is a modest margin.
SAFETY INSURANCE GROUP INC (SAFT) generated $192 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SAFETY INSURANCE GROUP INC (SAFT) has a debt-to-equity ratio of 0.06. This indicates a conservatively financed balance sheet.
SAFETY INSURANCE GROUP INC (SAFT) reported earnings per share (EPS) of $6.70 in its most recent fiscal year.
SAFETY INSURANCE GROUP INC (SAFT) has a return on equity (ROE) of 11.5%. This indicates moderate shareholder returns.
SAFETY INSURANCE GROUP INC (SAFT) has a 5-year average gross margin of 9.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for SAFETY INSURANCE GROUP INC (SAFT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SAFETY INSURANCE GROUP INC (SAFT) has a book value per share of $60.51, based on its most recent annual SEC filing.