Goosehead Insurance, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Goosehead Insurance, Inc. 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

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	42.7	60.1	77.5	117	151	209	261	315	365
General and administrative	8.6	13.1	19	25	39.8	52.9	62.1	67.1	81.4
Operating expenses	35.1	74.1	63.4	97.1	143	199	228	253	291
Operating income	7.61	-13.9	14.1	19.9	8.67	10.1	33	61.1	74.4
Interest expense	2.47	4.27	2.39	2.31	2.85	5	6.57	7.34	23.8
Interest income		0.42	0.62	0.81	1.15
Other non-operating income	3.54	-0.02	0	0.09	0.19	0	0	-7.1	0.19
Pre-tax income	8.68	-18.2	11.7	17.7	6	5.13	26.4	46.7	50.8
Income tax	0	0.45	1.3	-1.04	-2.29	2.5	2.69	-2.41	6.4
Net income to minority interests	8.68	-9.76	6.82	9.47	2.89	2.07	9.56	18.7	16.6
Net income	0	-8.9	3.57	9.29	5.4	0.57	14.1	30.4	27.8
EBITDA	8.49	-11.4	16.2	23.5	13.8	17.2	42.2	71.7	85.7
EPS, basic		-0.66	0.24	0.55	0.28	0.03	0.59	1.23	1.11
EPS, diluted		-0.66	0.22	0.51	0.26	0.03	0.55	1.16	1.04
Shares, basic (weighted)		13.6	14.9	16.8	19.2	21	23.9	24.7	25
Shares, diluted (weighted)		13.6	16.1	18.4	20.8	21.8	38.4	38.3	38.1

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	4.95	18.6	14.3	24.9	28.5	28.7	42	54.3	34.4
Other current assets	0	0	1.99	3.71	4.79	4.33	7.89	8.14	7.55
Total current assets	7.72	22.8	26.7	50.6	50.3	54.1	74.6	109	93.2
Property, plant and equipment	6.85	7.58	9.54	16.7	24.9	35.3	30.3	24.1	21.5
Lease right-of-use assets				22.5	32.7	44.1	38.4	37.4	34.1
Intangible assets	0.22	0.25	0.45	0.55	2.8	4.49	17.3	25.1	39.7
Other non-current assets	0.57	0.13	1.36	3.94	4.74	4.19	3.87	5.55	6.98
Total assets	16.7	34.8	64.6	186	270	321	355	398	415
Accounts payable	2.76	3.98	5.03	8.1	13	16	16.4	22.9	33.6
Deferred revenue	1.06	0.53	2.77	4.23	6.05	6.03	4.13	3.28	3.24
Short-term debt	0.5	2.5	4	3.5	4.38	6.88	9.38	10.1	2.99
Total current liabilities	5.77	7.81	13.4	20.4	30.3	37.1	40.9	46.5	58.3
Long-term debt	48.2	45.9	42.2	79.4	118	86.7	67.6	82.3	289
Lease liabilities				32.9	47.3	64.9	57.4	54.5	51.2
Total liabilities	57.8	60	95.6	224	339	355	338	359	578
Total debt	48.7	48.4	36.5	82.9	123	93.6	76.9	92.3	292
Paid-in capital	0	11.9	14.4	29.4	46.3	70.9	73.4	58.9	37.5
Retained earnings	0	-20.8	-23.8	-34.6	-60.7	-60.6	-45.8	-15.4	-133
Shareholders' equity	-41.1	-8.5	-9.01	-4.88	-14	10.7	28	43.9	-95.5
Minority interests	0	-16.7	-22	-33.5	-55.2	-44.3	-11.2	-4.81	-67.3
Total equity	-41.1	-25.2	-31	-38.4	-69.2	-33.6	16.8	39.1	-163
Total liabilities and equity	16.7	34.8	64.6	186	270	321	355	398	415

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	8.68	-18.7	10.4	18.8	8.3	2.63	23.7	49.1	44.5
Depreciation and amortization	0.88	2.52	2.15	3.57	5.12	7.11	9.24	10.5	11.3
Stock-based compensation	0	27	1.53	4.75	7.29	19.6	24	28	23.4
Deferred income tax	0	-1.73	-11.4	-49.1	-43.3	-22.5	-22.1	-3.75	5.89
Change in payables	1.33	1.21	0.91	2.54	4	2.51	-0.11	5.06	6.91
Cash from operations	13.5	10.3	21.2	24.6	35.4	36	50.8	71.5	91.8
Capital expenditures	-6.22	-2.1	-3.69	-9.98	-12.7	-10.1	-4.45	-0.98	-5.67
Cash from investing	-6.14	-2.22	-4.08	-10.3	-15.4	-12.6	-19.2	-12.4	-23.5
Stock issued				4.5	4.6	6.1	9.9	12.2	13.6
Share buybacks						0	0	-63.2	-81.7
Dividends paid	-25.5	-80.1	-18.7	-44.7	-60	0	0	0	-146
Cash from financing	-6.24	5.59	-20.9	-3.33	-15.8	-23.6	-18	-45.2	-88.3
Net change in cash	1.17	13.6	-3.75	11	4.24	-0.09	13.7	13.9	-20
Free cash flow	7.33	8.18	17.5	14.7	22.7	25.9	46.4	70.6	86.1
Interest paid	2	3.21	2.17	1.89	2.35	4.77	6.37	6.88	21.7
Income taxes paid	0	0.3	1.18	0.27	0.27	0.48	0.7	0.63	0.93

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 $45.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	23.3%	Operating income / revenue.
EBITDA margin	26.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.6%	Pre-tax income / revenue.
Net margin	8.8%	Net income / revenue.
FCF margin	19.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.4%	Cash from operations / revenue.
Effective tax rate	17.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	8.7%	Net income / average total assets.
Return on invested capital (ROIC)	42.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	5.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	3.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	16.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	20.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	25.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	21.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	94.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	30.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	19.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	70.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	29.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-8.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	266.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	24.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-10.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	226.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	15.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	28.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	36.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	30.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	49.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	42.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-317.6%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	4.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	17.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	20.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	15.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.54x	Current assets / current liabilities.
Quick ratio	0.43x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.43x	(Cash + short-term investments) / current liabilities.
Debt / assets	78.0%	Total debt / total assets.
Liabilities / assets	146.3%	Total liabilities / total assets.
Net debt	$293.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.77x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.10x	Operating income / interest expense.
Working capital	$30.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	11.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$160.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.99x	Revenue / average total assets.
Fixed asset turnover	18.5x	Revenue / average property, plant and equipment.
FCF conversion	225.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	7.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.99	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	$11.26	Revenue / diluted weighted shares.
FCF per share	$2.23	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.41	Cash from operations / diluted weighted shares.
Book value per share	-$3.15	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$4.50	Tangible book value / shares outstanding.
Cash per share	$0.66	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	169.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.61B	Share price x shares outstanding.
Enterprise value	$1.90B	Market cap + total debt - cash - short-term investments.
P/E	45.5x	Market cap / net income. Only when net income is positive.
P/S	3.99x	Market cap / revenue.
P/FCF	20.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.6x	Market cap / cash from operations, when positive.
EV/Sales	4.72x	Enterprise value / revenue.
EV/EBIT	20.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	17.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	23.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.0%	Free cash flow / market cap.
Earnings yield	2.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	8.4%	(Dividends paid + share buybacks) / market cap.
PEG	0.20x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Goosehead Insurance, Inc.'s revenue in fiscal 2025?

Goosehead Insurance, Inc. reported revenue of $365.3M for fiscal 2025, 16.2% higher than the year before.

Was Goosehead Insurance, Inc. profitable in fiscal 2025?

Yes. Net income was $27.8M, a net margin of 7.6%.

How much free cash flow did Goosehead Insurance, Inc. generate in fiscal 2025?

Cash from operations of $91.8M minus capital expenditures of $5.7M left free cash flow of $86.1M.

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.

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