Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Accelerant Holdings files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
344
603
913
General and administrative
183
249
400
Interest expense
10.9
12.1
10.9
Pre-tax income
-43.9
32
-1,322
Income tax
20.2
9.1
23.3
Net income to minority interests
-15.3
-4.3
8.9
Net income
-48.8
27.2
-1,425
EPS, basic
-0.29
0.16
-7.49
EPS, diluted
-0.29
0.14
-7.49
Shares, basic (weighted)
166
166
190
Shares, diluted (weighted)
166
200
190
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
775
1,226
1,716
Goodwill
20.7
30.9
63.1
Intangible assets
30.8
33.1
52
Total assets
6,095
8,263
Total liabilities
5,668
7,537
Total debt
121
121
Paid-in capital
125
2,232
Retained earnings
-183
-1,537
Other comprehensive income
-19.5
2.2
Shareholders' equity
304
698
Minority interests
18.3
28.7
Total equity
287
427
726
Total liabilities and equity
6,095
8,263
Shares outstanding
166
Cash flow statement
FY2023
FY2025
FY2025
Net income
-64.1
22.9
-1,345
Depreciation and amortization
14.5
26.6
35.2
Stock-based compensation
4.8
8.4
43.1
Deferred income tax
0.3
-40.9
-32
Cash from operations
290
786
445
Acquisitions
2.8
-0.5
-9.9
Purchases of investments
-73.8
-501
-509
Sales and maturities of investments
10.7
18.6
49.8
Cash from investing
-12.6
-380
-174
Debt repaid
0
0
-5
Stock issued
0
0
392
Cash from financing
10.3
110
206
Net change in cash
288
516
477
Interest paid
10.1
11.1
10
Income taxes paid
20.2
45.5
59.1
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $19.75 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
-110.8%
Pre-tax income / revenue.
Net margin
-119.3%
Net income / revenue.
Operating cash flow margin
4.0%
Cash from operations / revenue.
Return on equity (ROE)
-190.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-15.3%
Net income / average total assets.
Stock-based pay / revenue
8.9%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
3.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
51.5%
Revenue vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-5,339.0%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-5,450.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-43.3%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
129.3%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
35.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
-4.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
0.17x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
1.3%
Total debt / total assets.
Liabilities / assets
91.7%
Total liabilities / total assets.
Net debt
-$1.45B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$5.22
Revenue / diluted weighted shares.
Operating cash flow per share
$0.21
Cash from operations / diluted weighted shares.
Book value per share
$3.27
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.74x
Market cap / revenue.
P/B
5.98x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
5.98x
Market cap / tangible book value, when positive.
P/OCF
93.7x
Market cap / cash from operations, when positive.
EV/Sales
2.48x
Enterprise value / revenue.
Earnings yield
-31.9%
Net income / market cap (the inverse of P/E).
What was Accelerant Holdings's revenue in fiscal 2025?
Accelerant Holdings reported revenue of $912.9M for fiscal 2025, 51.5% higher than the year before.
Was Accelerant Holdings profitable in fiscal 2025?
No. It reported a net loss of $1.43B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.