SAFT
SAFETY INSURANCE GROUP INC
Next earnings Aug 4, 2026 · consensus $2.04 EPS
Last earnings -0.1% on 2026-05-06
$75.21
▲ +3.75%$75.21▼ -0.39%
over 1Y
L $64.90EODHDH $78.43
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.8%
1W+6.5%
1M+6.9%
3M+4.8%
YTD+1.9%
1Y-0.4%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 6 analysts
Sell
Cheap regional auto/home insurer compounding rate hikes into earnings — 11x P/E, 11% ROE, fortress balance sheet, fat dividend.
Revenue $1.26B · FY2025
The read
Quality fundamentals and an attractive price line up (~239% below fair value) — the rarer case where both the business and the entry look good.
Safety Insurance is a focused Massachusetts-centric P&C carrier (95% MA, with NH/ME ramping) where the numbers and the filing language tell the same story: a hard market in personal auto and homeowners is finally flowing through to the bottom line. FY2025 revenue grew 12.8% to $1.26B and net income jumped 40.3% to $99.3M, driven not by volume games but by approved rate increases — the 10-K explicitly attributes premium growth to rate, citing average written premium per policy up 8.1% in Private Passenger Auto, 4.6% in Commercial Auto, and 9.7% in Homeowners. The MD&A's rate-filing table shows the rate machine is still grinding: MA Private Passenger Auto +5.3% (Jan-25), +5.1% (Jul-25), +1.3% (Jan-26); MA Homeowners +4.2% (Aug-25); Maine Commercial Auto +14.8% (Dec-25). Earned premium lags written premium, so a meaningful chunk of 2025's approved rate is still ahead of the income statement in 2026.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $885M | $798M | $931M | $1.12B | $1.26B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $131M | $46.6M | $18.9M | $70.7M | $99.3M |
| Diluted EPS | $8.80 | $3.15 | $1.28 | $4.78 | $6.70 |
| Net margin | 14.8% | 5.8% | 2.0% | 6.3% | 7.9% |
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 / FCF5.7
PEG (trailing)0.28
Earnings yield9.0%
FCF yield17.4%
Quality & risk
ROIC (est.)—
Free cash flow$192M
Total debt$80.0M
Net cash-$6.10M
Piotroski F-Score6/7
Capital returns
Buyback yield2.1%
Dividend yield (est.)4.9%
Shareholder yield7.0%
Shares Δ YoY-1.4%
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 Material agreement2026-06-15
New credit facility / debt arrangement entered; LT debt up to $50M from $30M
- 8-K Shareholder vote2026-05-14
Annual meeting vote results disclosed; routine governance
- 10-Q Quarterly report2026-05-08
Q1 2026 10-Q filed; continues FY25 momentum on rate increases
- 8-K Earnings results2026-05-06
Q1 2026 earnings release; follows strong FY25 EPS +40%
- DEF 14A Proxy statement2026-03-31
2026 proxy filed; routine governance, exec comp and director slate
- 10-K Annual report2026-02-27
FY25 10-K: NI $99.3M (+40%), rate hikes driving 7.5% NWP growth, A.M. Best A
- 8-K Earnings results2026-02-25
Q4/FY25 earnings: revenue $1.26B (+12.8%), EPS $6.70 (+40%)
- 10-Q Quarterly report2025-11-07
Q3 2025 10-Q; rate increases boosting written premium per policy
- 8-K Earnings results2025-11-03
Q3 2025 earnings release with financial exhibits
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-092026-06-15open ↗8-KPeriod ending 2026-05-132026-05-14open ↗SCHEDULE 13GFiling2026-05-12open ↗10-QPeriod ending 2026-03-312026-05-08open ↗8-KPeriod ending 2026-05-062026-05-06open ↗SCHEDULE 13GFiling2026-04-30open ↗SCHEDULE 13GFiling2026-04-29open ↗SCHEDULE 13G/AFiling2026-04-13open ↗ARSPeriod ending 2025-12-312026-03-31open ↗DEF 14APeriod ending 2025-12-312026-03-31open ↗SCHEDULE 13G/AFiling2026-03-27open ↗4Period ending 2026-03-202026-03-23open ↗
Frequently asked
- Is SAFETY INSURANCE GROUP INC (SAFT) a buy?
- SAFT currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Cheap regional auto/home insurer compounding rate hikes into earnings — 11x P/E, 11% ROE, fortress balance sheet, fat dividend.
- What is SAFT's fair value?
- A Modified-Graham model based on SAFT's SEC fundamentals estimates a fair value of about $254.60. It is an estimate from reported earnings, not a price target.
- Is SAFT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, SAFT currently appears undervalued relative to its SEC-grounded earnings power.
- What is SAFETY INSURANCE GROUP INC's quality score?
- SAFT scores 78.55882352941177/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001172052, latest 10-Q filed 2026-05-08) · EODHD · analysis by claude-code · as of 6/25/2026, 2:13:15 PM.
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