$413.4 M

HRTG Mkt cap, 20-Sep-2018

$230 M

Heritage Insurance Holdings Revenue Q2, 2018
Heritage Insurance Holdings Net income (Q2, 2018)17.2 M
Heritage Insurance Holdings EBIT (Q2, 2018)33 M
Heritage Insurance Holdings Cash, 30-Jun-2018218.3 M
Heritage Insurance Holdings EV372.3 M

Heritage Insurance Holdings Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

5.6 m394.8 m439 m

Revenue growth, %

6912%11%

General and administrative expense

7.9 m46.1 m58.9 m

Operating expense total

7.9 m46.1 m58.9 m

EBIT

56.8 m

EBIT margin, %

13%

Interest expense

829 k321 k

Pre tax profit

(4.6 m)150.3 m56.4 m

Income tax expense

859 k57.8 m22.5 m

Net Income

(5.5 m)92.5 m33.9 m

Quarterly

USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

58 m105.1 m99.1 m89.2 m111.6 m115.3 m109.3 m99.3 m96.9 m112 m230 m

General and administrative expense

7.1 m11.2 m11.9 m10.2 m14.4 m16 m14.2 m17.3 m16.1 m

Operating expense total

41.9 m56.8 m58.1 m61.5 m99.5 m85.5 m90.7 m87.4 m83.9 m87.2 m197 m

EBIT

11.9 m13.1 m24.8 m33 m

EBIT margin, %

12%13%22%14%

Interest expense

1.9 m2 m4.8 m10.2 m

Pre tax profit

16.1 m48.3 m41 m27.7 m12 m29.8 m18.6 m9.7 m10.8 m20 m23.3 m

Income tax expense

6.1 m18.2 m15.6 m10.9 m4.6 m11.4 m7.7 m3.7 m4.2 m5.2 m6.1 m

Net Income

10 m30.1 m25.4 m16.8 m7.4 m18.4 m10.9 m6 m6.6 m14.8 m17.2 m

Heritage Insurance Holdings Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

160.5 m236.3 m105.8 m

Accounts Receivable

13.4 m

Inventories

41.6 m

PP&E

17.1 m17.1 m17.2 m

Goodwill

46.5 m

Total Assets

615 m837.4 m1 b

Accounts Payable

116.5 m102 m

Total Liabilities

675.3 m

Additional Paid-in Capital

188.3 m202.6 m205.7 m

Retained Earnings

65 m156 m182.8 m

Total Equity

255.1 m356.6 m358 m

Financial Leverage

2.4 x2.3 x2.9 x

Quarterly

USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

101.6 m160.8 m131.7 m201.3 m168.9 m143 m130.8 m104.7 m134.2 m193.6 m218.3 m

Inventories

251.1 m402.7 m438.7 m395.7 m481.2 m550.1 m549.8 m605.8 m601.2 m502.9 m524.9 m

PP&E

16.7 m17.7 m17.4 m17.4 m17.5 m17.9 m17.6 m16.9 m16.5 m18.4 m18.3 m

Goodwill

47.3 m48.8 m48.3 m46.5 m46.5 m152.5 m152.5 m

Total Assets

522.8 m668.6 m854.1 m855 m879 m1.1 b1.1 b955.4 m1.1 b1.9 b2 b

Long-term debt

185.1 m177.3 m

Total Debt

185.1 m177.3 m

Total Liabilities

291.3 m380.8 m542 m522.6 m522.8 m750.6 m676.5 m594.6 m783.4 m1.5 b1.6 b

Additional Paid-in Capital

184 m190 m193.2 m198.6 m203.8 m205 m206.2 m206.9 m208.1 m297.1 m294.2 m

Retained Earnings

45.3 m95.1 m120.5 m137.3 m161.8 m178.3 m187.4 m187 m191.9 m188.6 m189.4 m

Total Equity

231.5 m287.8 m312.1 m332.4 m356.2 m372.4 m377.2 m360.8 m365.3 m388.9 m386.1 m

Financial Leverage

2.3 x2.3 x2.7 x2.6 x2.5 x3 x2.8 x2.6 x3.1 x4.8 x5.2 x

Heritage Insurance Holdings Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

(5.5 m)92.5 m33.9 m

Depreciation and Amortization

777 k1.4 m9 m

Inventories

(19.1 m)4.5 m(3.1 m)

Accounts Payable

11.6 m(5.4 m)774 k

Cash From Operating Activities

49.5 m153.9 m75.1 m

Cash From Investing Activities

(13.9 m)(87 m)(249.4 m)

Cash From Financing Activities

28.3 m8.9 m43.8 m

Interest Paid

48 k16 k

Quarterly

USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

10 m30.1 m55.5 m72.3 m7.4 m18.4 m10.9 m6 m14.8 m17.2 m

Depreciation and Amortization

602 k926 k398 k7 m14 m

Cash From Operating Activities

85.1 m117.5 m57 m(12.1 m)48.3 m

Cash From Investing Activities

(116.8 m)(83.1 m)(113.2 m)55.7 m30.9 m

Dividends Paid

(1.6 m)(3.2 m)

Cash From Financing Activities

3 m6.4 m(11.2 m)(3.7 m)(18.6 m)

Interest Paid

5.4 m8.3 m

Income Taxes Paid

5.4 m

Heritage Insurance Holdings Ratios

USDY, 2018

EV/EBIT

11.3 x

EV/CFO

7.7 x

Financial Leverage

5.2 x
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Heritage Insurance Holdings Operating Metrics

Heritage Insurance Holdings's Reported Claims, units was reported to be 3.6 k in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

In-Force Policies

209.40 k220 k221.70 k240.56 k257.13 k266.32 k331 k327 k323.30 k321.25 k316 k

Reported Claims, units

7.77 k11.07 k3.71 k14.60 k3.64 k
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