Stocks PLMR Financial statements
Financial statementsPalomar Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Palomar Holdings, 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
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 59.5 | 73 | 113 | 168 | 248 | 327 | 376 | 554 | 876 |
| Interest expense | 1.75 | 2.3 | 1.07 | 0.04 | 0.87 | 3.78 | 1.14 | 0.39 | |
| Interest income | 3.04 | 5.89 | 8.55 | 9.12 | 13.6 | 23.3 | 35.4 | 55.2 | |
| Pre-tax income | 4.93 | 18.2 | 18.1 | 6.22 | 57.1 | 67.6 | 104 | 151 | 253 |
| Income tax | 1.15 | -0.01 | 7.46 | -0.03 | 11.3 | 15.4 | 24.4 | 33.6 | 56.3 |
| Net income | 3.78 | 18.2 | 10.6 | 6.26 | 45.8 | 52.2 | 79.2 | 118 | 197 |
| EPS, basic | 0.22 | 1.07 | 0.49 | 0.25 | 1.80 | 2.07 | 3.19 | 4.61 | 7.40 |
| EPS, diluted | 0.22 | 1.07 | 0.49 | 0.24 | 1.76 | 2.02 | 3.13 | 4.48 | 7.17 |
| Shares, basic (weighted) | 17 | 17 | 21.5 | 24.9 | 25.5 | 25.2 | 24.8 | 25.5 | 26.6 |
| Shares, diluted (weighted) | 17 | 17 | 21.8 | 25.6 | 26.1 | 25.8 | 25.3 | 26.2 | 27.5 |
Balance sheet
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 10.9 | 9.53 | 33.1 | 33.5 | 50.3 | 68.1 | 51.5 | 80.4 | 107 |
| Property, plant and equipment | 0.95 | 0.85 | 0.74 | 0.53 | 0.6 | 0.37 | 0.43 | 2.55 | |
| Lease right-of-use assets | 2.27 | 1.64 | 1.69 | 0.93 | 7.64 | 6.88 | |||
| Goodwill | 0 | 3.76 | 3.76 | 30.5 | |||||
| Intangible assets | 0.74 | 0.74 | 11.5 | 9.5 | 8.26 | ||||
| Total assets | 231 | 395 | 729 | 926 | 1,306 | 1,708 | 2,262 | 3,051 | |
| Total liabilities | 135 | 177 | 365 | 532 | 922 | 1,237 | 1,533 | 2,108 | |
| Total debt | 0 | ||||||||
| Paid-in capital | 68.5 | 180 | 311 | 319 | 334 | 351 | 494 | 523 | |
| Retained earnings | 28.4 | 33.9 | 40 | 70 | 87.7 | 145 | 262 | 422 | |
| Other comprehensive income | -0.56 | 4.69 | 13.2 | 5.31 | -36.5 | -24 | -26.8 | -2.51 | |
| Shareholders' equity | 78.4 | 96.3 | 219 | 364 | 394 | 385 | 471 | 729 | 943 |
| Total equity | 78.4 | 96.3 | 219 | 364 | 394 | 385 | 471 | 729 | 943 |
| Total liabilities and equity | 231 | 395 | 729 | 926 | 1,306 | 1,708 | 2,262 | 3,051 | |
| Shares outstanding | 17 | 23.5 | 25.5 | 25.4 | 25 | 24.8 | 26.5 | 26.5 |
Cash flow statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | 3.78 | 18.2 | 10.6 | 6.26 | 45.8 | 52.2 | 79.2 | 118 | 197 |
| Depreciation and amortization | 0.16 | 0.21 | 0.22 | 1.34 | 3.54 | 4.12 | 4.5 | 5.11 | 8.93 |
| Stock-based compensation | 0 | 0 | 24.1 | 2.17 | 5.58 | 11.6 | 14.9 | 16.7 | 21 |
| Deferred income tax | 1.13 | 0.65 | 1.09 | 0.64 | -3.46 | -2.83 | 2.06 | 2.04 | |
| Change in payables | 2.24 | 2.75 | 3.29 | 6 | -0.95 | 5.43 | 15.7 | 29.2 | -6.89 |
| Cash from operations | 20.2 | 22.8 | 44.5 | 57.5 | 87.8 | 170 | 116 | 261 | 409 |
| Capital expenditures | -0.07 | -0.33 | -0.12 | -0.13 | -0.02 | -0.31 | -0.02 | -0.24 | -0.14 |
| Acquisitions | -0.01 | -0.02 | -5.53 | 0 | -58.6 | ||||
| Purchases of investments | -10.7 | -103 | -212 | -295 | -167 | -382 | -234 | -601 | -848 |
| Sales and maturities of investments | 6.77 | 48.5 | 46.3 | 39.8 | 17.4 | 19.7 | 10.1 | 6.3 | 28 |
| Cash from investing | -19.1 | -25.4 | -83.4 | -185 | -58.2 | -157 | -128 | -306 | -354 |
| Debt repaid | -17.5 | -20 | |||||||
| Stock issued | 2.04 | 2.09 | 0 | 0 | 116 | -0.14 | |||
| Share buybacks | -15.9 | -34.4 | -22.3 | 0 | -37.3 | ||||
| Cash from financing | 1.55 | 62.3 | 128 | -13 | 5.02 | -3.94 | 73.8 | -28.8 | |
| Net change in cash | 1.12 | -1.01 | 23.4 | 0.44 | 16.6 | 17.8 | -16.3 | 28.7 | 26.4 |
| Free cash flow | 20.2 | 22.5 | 44.4 | 57.4 | 87.8 | 169 | 116 | 261 | 409 |
| Interest paid | 1.63 | 1.73 | 1.16 | 0 | 0.7 | 3.68 | 1.05 | 0.29 | |
| Income taxes paid | 0.01 | 0.01 | 5.65 | 7.18 | 2.1 | 18.9 | 21.1 | 38.5 | 59.1 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 24.1% | Pre-tax income / revenue. |
| Net margin | 18.6% | Net income / revenue. |
| FCF margin | 38.0% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 38.0% | Cash from operations / revenue. |
| Effective tax rate | 22.8% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 20.7% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 5.1% | Net income / average total assets. |
| Stock-based pay / revenue | 2.5% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 0.0% | Capital expenditures / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 58.2% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 38.9% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 39.1% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 67.6% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 55.7% | 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 | 99.4% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 60.0% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 52.5% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 97.3% | 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 | 56.7% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 34.1% | 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 | 48.1% | 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 | 56.8% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | 34.2% | 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 | 48.1% | 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 | 29.3% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 34.8% | 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 | 21.0% | 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 | 34.9% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 32.7% | 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 | 33.1% | 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 | 4.8% | 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 | 2.1% | 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 | 1.4% | 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 | 0.30x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 7.5% | Total debt / total assets. |
| Liabilities / assets | 75.3% | Total liabilities / total assets. |
| Net debt | $233.1M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Goodwill and intangibles / assets | 2.8% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $871.0M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.28x | Revenue / average total assets. |
| Fixed asset turnover | 410x | Revenue / average property, plant and equipment. |
| FCF conversion | 204.2% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 0.1% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $7.51 | 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 | $40.34 | Revenue / diluted weighted shares. |
| FCF per share | $15.33 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $15.35 | Cash from operations / diluted weighted shares. |
| Book value per share | $37.46 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $33.26 | Tangible book value / shares outstanding. |
| Cash per share | $2.39 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 24.4% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $3.26B | Share price x shares outstanding. |
| Enterprise value | $3.50B | Market cap + total debt - cash - short-term investments. |
| P/E | 16.1x | Market cap / net income. Only when net income is positive. |
| P/S | 2.99x | Market cap / revenue. |
| P/B | 3.33x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 3.75x | Market cap / tangible book value, when positive. |
| P/FCF | 7.87x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 7.86x | Market cap / cash from operations, when positive. |
| EV/Sales | 3.20x | Enterprise value / revenue. |
| EV/FCF | 8.43x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 12.7% | Free cash flow / market cap. |
| Earnings yield | 6.2% | Net income / market cap (the inverse of P/E). |
| Shareholder yield | 3.1% | (Dividends paid + share buybacks) / market cap. |
| PEG | 0.31x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was Palomar Holdings, Inc.'s revenue in fiscal 2025?
Palomar Holdings, Inc. reported revenue of $876.0M for fiscal 2025, 58.2% higher than the year before.
Was Palomar Holdings, Inc. profitable in fiscal 2025?
Yes. Net income was $197.1M, a net margin of 22.5%.
How much free cash flow did Palomar Holdings, Inc. generate in fiscal 2025?
Cash from operations of $409.1M minus capital expenditures of $137.0K left free cash flow of $409.0M.