International General Insurance Holdings Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data International General Insurance Holdings Ltd. 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

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1.49	1.54	1.28	0.84	350	393	499	539	517
Gross profit				27.3	43.7	85.5
Selling, general and administrative	0.21	0.21	0.38	46.9	58.9	67.5
General and administrative	3	3.49	3.34	1.35	58.2	67.2	78.9	90.4	97
Operating expenses						301	373	407	390
Operating income					-302	-306	-346
Interest income					14	20.4	39.8	51	54.5
Pre-tax income	7.02	25.6	25.3	29.3	48.6	92.2	126	132	127
Income tax	-0.01	0.06	1.69	2.08	1.81	2.93	7.85	-2.86	-0.01
Income from continuing operations				-29.3	-45.4	-87.7
Net income	7.03	25.5	23.6	1.69	46.8	89.2	118	135	127
EBITDA					-299	-303	-343
EPS, basic	0.03	0.11	0.10	0.10	0.98	1.85	2.58	3.01	2.92
EPS, diluted	0.03	0.11	0.10	0.10	0.98	1.84	2.55	2.98	2.89
Shares, basic (weighted)					45.5	45.5	42.9	44.2	43.3
Shares, diluted (weighted)					45.5	45.7	43.5	44.7	43.7
Dividend per share					0.33	0.22	0.04	0.59	1.03

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	104	185	192	133	242	122	177	155	186
Short-term investments						266	42.2
Total current assets		0.79	0.95
Property, plant and equipment	19.3	12.2	12.7	13.2	14.9	13.4
Lease right-of-use assets		1.72	1.51				2.08	2.6	1.9
Goodwill					0.04
Intangible assets		2.94	3.89	4.71	4.32	3.56
Total assets		903	1,009	1,279	1,452	1,580	1,838	2,038	2,101
Accounts payable		2.44	1.72	5.01	11.3	10.2
Total current liabilities		7.29	6.99
Lease liabilities			1.04	2.19	2.75	2.09
Total liabilities		602	697	898	1,050	1,169	1,297	1,383	1,391
Paid-in capital			2.77	158	160	148	138	145	86.9
Retained earnings		169	182	205	233	307	423	532	613
Treasury stock						-0.01	-0.05	-3.68	-0.04
Other comprehensive income						-44	-20.6	-18.6	10.3
Shareholders' equity				358	381	411	540	655	710
Total equity	301	301	312	381	402	430	540	655	710
Total liabilities and equity		903	1,009	1,279	1,452	1,580	1,838	2,038	2,101
Shares outstanding						46	44.5	45.1	42.8

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	7.03	25.5	23.6	27.3	46.8	89.2	118	135	127
Depreciation and amortization	1.02	0.87	1.29	1.98	2.77	3.08	2.55	3.4	3.58
Stock-based compensation					1.19	2.3	3.25	4.63	6.8
Deferred income tax					-0.46	-0.31	1.44	-2.7	2.12
Cash from operations	13	104	21.4	-90.6	175	155	197	209	108
Capital expenditures	-0.45	-0.42	-0.44	-0.34	-2.38	-1.28	-3.25	-6.63	-0.94
Acquisitions					-0.15	0	-1.1	0	0
Purchases of investments					-160	-190	-313	-339	-221
Cash from investing	-1.57	-1.15	-1.03	-1.91	-51.5	-247	-90.4	-187	35.9
Share buybacks						-2.39	-31.1	-23.2	-61.9
Dividends paid	-11.5	-4.09	-10.8	-4.36	-15.1	-10.2	-1.75	-26.5	-46.2
Cash from financing	-11.5	-19.1	-16.5	35.7	-15.1	-12.5	-49.2	-49.7	-107
Exchange rate effect	1.88	-3.22	3.83	-2.21	-1.7	-3.36
Net change in cash					109	-104	57.1	-26.8	36.6
Free cash flow	12.5	104	21	-90.9	173	154	193	203	107
Income taxes paid	-0	-0.06		1.47	2.33	2.76	6.6	4.6	0.32

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $24.61 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	24.6%	Pre-tax income / revenue.
Net margin	24.6%	Net income / revenue.
FCF margin	20.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.9%	Cash from operations / revenue.
Effective tax rate	-0.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.1%	Net income / average total assets.
Stock-based pay / revenue	1.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	261.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-5.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	12.5%	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	137.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-3.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	16.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	96.0%	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	-48.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-11.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-47.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-11.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	73.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	67.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	8.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	20.0%	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	14.7%	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	3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.0%	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	10.4%	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	-2.4%	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	-1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	66.2%	Total liabilities / total assets.
Tangible book value	$710.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.25x	Revenue / average total assets.
FCF conversion	84.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.89	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.
EPS, basic	$2.92	Net income per basic share, as reported (split-adjusted).
Revenue per share	$11.84	Revenue / diluted weighted shares.
FCF per share	$2.45	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.48	Cash from operations / diluted weighted shares.
Book value per share	$16.58	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.58	Tangible book value / shares outstanding.
Cash per share	$4.35	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.03	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	36.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	43.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	57.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.05B	Share price x shares outstanding.
Enterprise value	$868.2M	Market cap + total debt - cash - short-term investments.
P/E	8.29x	Market cap / net income. Only when net income is positive.
P/S	2.04x	Market cap / revenue.
P/B	1.48x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.48x	Market cap / tangible book value, when positive.
P/FCF	9.84x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.75x	Market cap / cash from operations, when positive.
EV/Sales	1.68x	Enterprise value / revenue.
EV/FCF	8.10x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.2%	Free cash flow / market cap.
Earnings yield	12.1%	Net income / market cap (the inverse of P/E).
Dividend yield	4.4%	Dividends paid over the period / market cap.
Shareholder yield	10.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.51x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was International General Insurance Holdings Ltd.'s revenue in fiscal 2025?

International General Insurance Holdings Ltd. reported revenue of $516.9M for fiscal 2025, 4.1% lower than the year before.

Was International General Insurance Holdings Ltd. profitable in fiscal 2025?

Yes. Net income was $127.2M, a net margin of 24.6%.

How much free cash flow did International General Insurance Holdings Ltd. generate in fiscal 2025?

Cash from operations of $108.1M minus capital expenditures of $944.0K left free cash flow of $107.2M.

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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