ASIC
Ategrity Specialty Insurance Co Holdings
Next earnings ≈ Jul 8, 2026 · est. from filing cadence
Last earnings +1.2% on 2026-04-29
$23.68
▲ +10.55%$23.68▲ +4.87%
over 1Y
L $16.38EODHDH $23.78
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+10.6%
1W+10.4%
1M+17.7%
3M+24.5%
YTD+17.5%
1Y+4.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 11 analysts
Buy
Fast-growing E&S specialty insurer at a reasonable 13.5x P/E, but a fresh IPO with concentration risk warrants patience.
Revenue $424M · FY2025
The read
Middling fundamentals offset by an attractive price (~154% below fair value) — worth a look on the value angle.
Ategrity is a pure-play excess & surplus (E&S) specialty insurer targeting SMBs, and the FY2025 numbers are genuinely strong: revenue grew 23.4% to $424M, net income jumped 57.2% to $74M, and the net margin expanded to 17.4%. Operating cash flow of $147M comfortably exceeds reported net income — a healthy quality-of-earnings signal for an insurer. Stockholders' equity grew 54.2% (largely from the June 2025 IPO that raised proceeds from 7.67M new shares), and retained earnings tripled to $109M, showing real compounding rather than purely paper-driven book growth. The 'productionized underwriting' model — micro-segmentation, automated workflows for high-volume small-premium policies — is a credible structural edge in a niche where speed and consistency matter to brokers.
Financials · annual, by fiscal year
| Line item | FY24 | FY25 |
|---|---|---|
| Revenue | $344M | $424M |
| Gross profit | — | — |
| Operating income | — | — |
| Net income | $47.1M | $74.0M |
| Diluted EPS | $1.28 | $1.58 |
| Net margin | 13.7% | 17.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF8.1
PEG (trailing)0.26
Earnings yield6.5%
FCF yield12.4%
Quality & risk
ROIC (est.)—
Free cash flow$141M
Total debt—
Net cash$29.7M
Capital returns
Buyback yield0.2%
Dividend yield (est.)—
Shareholder yield0.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-11
Annual meeting vote: routine director elections and proposals approved
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q filed; E&S SMB underwriting growth continues
- DEF 14A Proxy statement2026-04-30
Proxy for 2026 annual meeting; routine governance items
- 8-K Earnings results2026-04-29
Q1 2026 earnings released; top-line growth continues post-IPO
- 10-K Annual report2026-03-06
FY25 10-K: rev $424M(+23%), NI $74M(+57%), equity +54% to $614M
- 8-K Other event2026-02-19
FY2025 results: revenue +23% to $424M, net income +57% to $74M
- 8-K Earnings results2026-02-19
FY2025 results: revenue +23% to $424M, net income +57% to $74M
- 8-K Reg FD disclosure2025-12-18
Reg FD investor materials disclosed; informational only
- 10-Q Quarterly report2025-11-12
Q3 2025 10-Q — first full quarter post-IPO; growth trends intact
Recent filings
all on EDGAR ↗4Period ending 2026-06-112026-06-16open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗8-KPeriod ending 2026-06-092026-06-11open ↗4Period ending 2026-03-052026-05-07open ↗10-QPeriod ending 2026-03-312026-05-07open ↗4Period ending 2026-05-042026-05-05open ↗DEFA14AFiling2026-04-30open ↗DEF 14APeriod ending 2026-06-092026-04-30open ↗8-KPeriod ending 2026-04-292026-04-29open ↗10-KPeriod ending 2025-12-312026-03-06open ↗8-KPeriod ending 2026-02-192026-02-19open ↗
Frequently asked
- Is Ategrity Specialty Insurance Co Holdings (ASIC) a buy?
- ASIC currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Fast-growing E&S specialty insurer at a reasonable 13.5x P/E, but a fresh IPO with concentration risk warrants patience.
- What is ASIC's fair value?
- A Modified-Graham model based on ASIC's SEC fundamentals estimates a fair value of about $60.04. It is an estimate from reported earnings, not a price target.
- Is ASIC overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, ASIC currently appears undervalued relative to its SEC-grounded earnings power.
- What is Ategrity Specialty Insurance Co Holdings's quality score?
- ASIC scores 81.47058823529412/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0002040491, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 2:17:17 PM.
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