Stocks HMN Financial statements
Financial statementsHORACE MANN EDUCATORS CORP /DE/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HORACE MANN EDUCATORS CORP /DE/ 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
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,129 | 1,172 | 1,192 | 1,431 | 1,310 | 1,329 | 1,382 | 1,492 | 1,595 | 1,701 |
| Operating expenses | 173 | 188 | 205 | 235 | 256 | 267 | 295 | 334 | ||
| Interest expense | 11.8 | 11.9 | 13 | 15.6 | 15.2 | 13.9 | 19.4 | 29.7 | 34.6 | 36.4 |
| Pre-tax income | 114 | 88.7 | 19.5 | 236 | 160 | 210 | 16.5 | 53.3 | 129 | 201 |
| Income tax | 30.5 | -80.8 | 1.19 | 52 | 26.3 | 39.7 | -3.3 | 8.3 | 25.8 | 39.1 |
| Net income | 83.8 | 169 | 18.3 | 184 | 133 | 170 | 19.8 | 45 | 103 | 162 |
| EPS, basic | 2.43 | 4.89 | 0.52 | 5.27 | 3.79 | 4.06 | 0.48 | 1.09 | 2.49 | 3.93 |
| EPS, diluted | 2.41 | 4.86 | 0.52 | 5.24 | 3.78 | 4.04 | 0.47 | 1.09 | 2.48 | 3.90 |
| Shares, basic (weighted) | 34.5 | 34.7 | 34.9 | 35 | 35.2 | 42 | 41.6 | 41.3 | 41.3 | 41.2 |
| Shares, diluted (weighted) | 34.8 | 34.9 | 35.2 | 35.2 | 35.2 | 42.2 | 41.8 | 41.4 | 41.5 | 41.6 |
| Dividend per share | 1.26 | 1.31 | 1.36 | 1.37 | 1.43 | 1.24 | 1.28 | 1.32 | 1.36 | 1.40 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 16.7 | 7.63 | 11.9 | 25.5 | 22.3 | 134 | 42.8 | 29.7 | 38.1 | 27.5 |
| Property, plant and equipment | 32.2 | 38.9 | 41 | 60.1 | 64.7 | 66 | 69.3 | 68.6 | 73.4 | 70.8 |
| Lease right-of-use assets | 16.5 | 12.6 | 9 | 11.6 | ||||||
| Goodwill | 47.4 | 47.4 | 47.4 | 49.1 | 43.5 | 43.5 | 54.3 | 54.3 | 54.3 | 54.3 |
| Intangible assets | 0 | 177 | 159 | 145 | 185 | 170 | 156 | 142 | ||
| Other non-current assets | 288 | 329 | 358 | 408 | 435 | |||||
| Total assets | 10,577 | 11,198 | 11,032 | 12,479 | 13,472 | 14,460 | 13,306 | 14,050 | 14,488 | 15,267 |
| Short-term debt | 0 | 135 | 135 | 249 | 249 | 0 | 0 | 0 | ||
| Total liabilities | 9,283 | 9,697 | 9,741 | 10,911 | 11,682 | 12,577 | 12,208 | 12,875 | 13,200 | 13,784 |
| Total debt | 247 | 297 | 298 | 298 | 302 | 254 | 249 | 546 | 547 | 593 |
| Paid-in capital | 453 | 464 | 475 | 481 | 488 | 495 | 503 | 511 | 525 | 539 |
| Retained earnings | 1,156 | 1,231 | 1,217 | 1,353 | 1,435 | 1,525 | 1,512 | 1,502 | 1,548 | 1,652 |
| Treasury stock | -479 | -481 | -486 | -486 | -488 | -493 | -517 | -524 | -533 | -553 |
| Other comprehensive income | 164 | |||||||||
| Shareholders' equity | 1,294 | 1,502 | 1,291 | 1,567 | 1,790 | 1,499 | 1,098 | 1,175 | 1,288 | 1,483 |
| Total equity | 1,294 | 1,502 | 1,291 | 1,567 | 1,790 | 1,499 | 1,098 | 1,175 | 1,288 | 1,483 |
| Total liabilities and equity | 10,577 | 11,198 | 11,032 | 12,479 | 13,472 | 14,384 | 13,306 | 14,050 | 14,488 | 15,267 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 83.8 | 169 | 18.3 | 184 | 133 | 170 | 19.8 | 45 | 103 | 162 |
| Depreciation and amortization | 6.9 | 6.62 | 7.36 | 15.6 | 23.4 | 18.4 | 27.6 | 26.2 | 26.4 | 27.1 |
| Stock-based compensation | 1.21 | 8.59 | 8.35 | 7.3 | 6.7 | 8.4 | 8.9 | 9.5 | 9.9 | 10.2 |
| Deferred income tax | 4.11 | -84.6 | -2.96 | 20.5 | 9.4 | 12 | -2.6 | 1.8 | 5.9 | -17.3 |
| Cash from operations | 211 | 257 | 201 | 128 | 260 | 205 | 172 | 302 | 452 | 553 |
| Acquisitions | 0 | 0 | -422 | 0 | 0 | -164 | 0 | 0 | ||
| Purchases of investments | -1,566 | -1,569 | -1,429 | -1,059 | -1,440 | -1,459 | -1,046 | -597 | -1,162 | -1,348 |
| Sales and maturities of investments | 800 | 928 | 738 | 800 | 640 | 873 | 497 | 292 | 540 | 690 |
| Cash from investing | -325 | -229 | -186 | 55.9 | -407 | -302 | -215 | -107 | -136 | -252 |
| Debt issued | 0 | 0 | 0 | 0 | 298 | 0 | 295 | |||
| Debt repaid | 0 | 0 | 0 | 0 | -250 | |||||
| Stock issued | 3.33 | 4.19 | 3.63 | 1.7 | 2.4 | 0.3 | 0 | 0 | 5.1 | 5.3 |
| Share buybacks | -21.5 | -1.66 | -5.09 | 0 | -2.2 | -5.3 | -24 | -6.5 | -8.6 | -20.8 |
| Dividends paid | -44.3 | -46.1 | -46.7 | -47.3 | -49.6 | -51.4 | -52.6 | -53.9 | -55.5 | -57.1 |
| Cash from financing | 115 | -37 | -10.1 | -170 | 144 | 209 | -47.8 | -208 | -308 | -312 |
| Net change in cash | -9.04 | 4.28 | 13.6 | -3.2 | 111 | -90.9 | -13.1 | 8.4 | -10.6 | |
| Interest paid | 11.8 | 11.6 | 12.5 | 14.1 | 15.5 | 13.5 | 18.2 | 30.1 | 33.5 | 32.2 |
| Income taxes paid | 27.8 | 16.3 | 8.68 | 22.9 | 17.3 | 23.7 | 8.6 | 14 | 22.1 | 34.7 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 12.4% | Pre-tax income / revenue. |
| Net margin | 10.2% | Net income / revenue. |
| Operating cash flow margin | 32.4% | Cash from operations / revenue. |
| Effective tax rate | 18.1% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 11.8% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 1.1% | Net income / average total assets. |
| Stock-based pay / revenue | 0.5% | Stock-based compensation (from the cash flow statement) / revenue. |
| D&A / revenue | 1.5% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 6.7% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 7.2% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 5.4% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 57.7% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 101.5% | 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 | 4.0% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 57.3% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 102.5% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 0.6% | 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 | 22.4% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 47.8% | 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 | 16.3% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 2.9% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 3.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | -0.4% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 15.2% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 10.5% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | -3.7% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 5.4% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 4.7% | 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 | 2.5% | 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 | 0.2% | 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 | -0.2% | 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 | 3.4% | 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 |
|---|---|---|
| Debt / equity | 0.40x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 3.8% | Total debt / total assets. |
| Liabilities / assets | 90.4% | Total liabilities / total assets. |
| Net debt | $548.0M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Goodwill and intangibles / assets | 1.2% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $1.31B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.11x | Revenue / average total assets. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $4.30 | 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 | $42.38 | Revenue / diluted weighted shares. |
| Operating cash flow per share | $13.74 | Cash from operations / diluted weighted shares. |
| Book value per share | $36.48 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $31.90 | Tangible book value / shares outstanding. |
| Cash per share | $1.12 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 32.5% | Dividends paid / net income, when net income is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $1.84B | Share price x shares outstanding. |
| Enterprise value | $2.38B | Market cap + total debt - cash - short-term investments. |
| P/E | 10.4x | Market cap / net income. Only when net income is positive. |
| P/S | 1.05x | Market cap / revenue. |
| P/B | 1.22x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.40x | Market cap / tangible book value, when positive. |
| P/OCF | 3.24x | Market cap / cash from operations, when positive. |
| EV/Sales | 1.37x | Enterprise value / revenue. |
| Earnings yield | 9.7% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 3.1% | Dividends paid over the period / market cap. |
| Shareholder yield | 4.9% | (Dividends paid + share buybacks) / market cap. |
| PEG | 0.10x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was HORACE MANN EDUCATORS CORP /DE/'s revenue in fiscal 2025?
HORACE MANN EDUCATORS CORP /DE/ reported revenue of $1.70B for fiscal 2025, 6.7% higher than the year before.
Was HORACE MANN EDUCATORS CORP /DE/ profitable in fiscal 2025?
Yes. Net income was $162.1M, a net margin of 9.5%.