UTG INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UTG 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	27.8	28.7	41.3	44.2	27.3	35.6	69.7	26.3	84.9	42.3
General and administrative	7.56	7.21	7.09	7.4	7.26	6.82	7.86	7.91	7.48	8.03
Operating expenses	7.29	7.85	8.53	8.01	7.87	7.12	10.5	8.37	9.37	8.98
Interest expense	0	0			0	0	0.11	0.03	0.01	0
Pre-tax income	2.12	3.31	16.5	20.2	2.56	11.8	43.9	2.81	63.2	21.9
Income tax	0.67	-1.51	3.91	3.59	0.34	2.07	9.57	0.04	13.1	4.7
Net income to minority interests	0.29	0	0.21	0.33	0.13	0.09	0.11	0.11	0.1	0.09
Net income	1.17	4.81	12.4	16.3	2.09	9.66	34.3	2.66	50	17.1
EPS, basic	0.45	1.95	5.08	6.71	0.88	4.13	14.65	0.84	15.80	5.42
EPS, diluted	0.45	1.95	5.08	6.71	0.88	4.13	14.65	0.84	15.80	5.42
Shares, basic (weighted)	2.61	2.47	2.44	2.43	2.39	2.34	2.34	3.18	3.17	3.15
Shares, diluted (weighted)	2.61	2.47	2.44	2.43	2.39	2.34	2.34	3.18	3.17	3.15

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	15.2	25.4	20.2	28.8	39	30.8	45.3	41.2	45.3	30.5
Short-term investments	239
Property, plant and equipment	1.56	1.12	0.69	0.43	0.35	0
Total assets	402	406	396	419	419	438	448	442	477	491
Total liabilities	308	296	288	287	282	297	290	280	260	259
Paid-in capital	37.9	37.5	36.6	36	33	32.8	32.7	32.6	32.4	32
Retained earnings	34.2	39	69.7	86	88.1	97.7	132	131	181	198
Other comprehensive income	20.4	33	0.06	8.98	15.6	10.3	-7.11	-2.72	2.6	1.87
Shareholders' equity	92.5	110	106	131	137	141	158	161	216	232
Minority interests	1.84	0.9	0.73	0.52	0.46	0.48	0.45	0.46	0.46	0.45
Total equity	94.3	110	107	131	137	141	158	162	217	233
Total liabilities and equity	402	406	396	419	419	438	448	442	477	491
Shares outstanding	2.47	2.46	2.43	2.42	2.34	2.34	2.34	3.17	3.16	3.14

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1.46	4.81	12.6	16.6	2.22	9.76	34.4	2.77	50.1	17.2
Depreciation and amortization	0.7	0.7	1.07	3.14	1.7	2.76	2.03	0.73	1.91	1.28
Stock-based compensation	0.06	0.06	0.36	0.35	0.33	0.29	0.6	0.8	0.48	0.29
Deferred income tax	0.46	-2.26	1.98	1.89	-2.14	2.1	2.52	0.56	10.9	2.85
Cash from operations	-11.4	-13.2	-5.06	-6.48	-13.2	-12.5	-5.33	-9.79	-1.57	-6.52
Capital expenditures	0	0	0
Purchases of investments	-50.9	-29.2	-106	-50.9	-53	-78.7	-53.5	-72.7	-45.3	-42.9
Sales and maturities of investments	67.6	56.2	108	67.1	80	59.3	79.7	79.6	71.8	36
Cash from investing	16.7	27	2.01	16.3	26.9	-18.1	26.2	6.9	26.5	-6.89
Debt issued	2.9	0			0	24	58.5	21.5	0
Debt repaid	0	-2.9	0			0	-63.5	-21.5	-19	0
Stock issued	0.31	0.26	0.36		0	0.01	0
Share buybacks	-5.12	-0.6	-1.33	-0.91	-3.31	-0.54	-0.69	-0.88	-0.65	-0.78
Dividends paid	-1	-2	-5	-6	-4	-5	-3	-2	0	0
Cash from financing	-1.95	-3.51	-2.24	-1.16	-3.44	22.3	-6.37	-1.22	-20.9	-1.32
Net change in cash	3.33	10.3	-5.28	8.64	10.2	-8.24	14.5	-4.11	4.08	-14.7
Free cash flow	-11.4	-13.2	-5.06
Interest paid	0	0	0	0	0	0	0.08	0.04	0.02	0
Income taxes paid	0.81	0.17	1.65	1.11	2.53	1.2	1.89	5.8	0.77	1.05

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 $58.41 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	67.1%	Pre-tax income / revenue.
Net margin	52.6%	Net income / revenue.
Operating cash flow margin	-11.4%	Cash from operations / revenue.
Effective tax rate	20.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.8%	Net income / average total assets.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	2.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-50.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-15.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-65.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-20.7%	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	52.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-65.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-28.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	43.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	13.8%	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	11.2%	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	3.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.2%	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	3.2%	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	-0.4%	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	10.5%	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	5.7%	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
Liabilities / assets	49.8%	Total liabilities / total assets.
Tangible book value	$262.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.13x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$11.24	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	$21.36	Revenue / diluted weighted shares.
Operating cash flow per share	-$2.42	Cash from operations / diluted weighted shares.
Book value per share	$83.65	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$83.65	Tangible book value / shares outstanding.
Cash per share	$13.58	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$183.0M	Share price x shares outstanding.
Enterprise value	$140.4M	Market cap + total debt - cash - short-term investments.
P/E	5.16x	Market cap / net income. Only when net income is positive.
P/S	2.71x	Market cap / revenue.
P/B	0.70x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.70x	Market cap / tangible book value, when positive.
EV/Sales	2.08x	Enterprise value / revenue.
Earnings yield	19.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.5%	(Dividends paid + share buybacks) / market cap.

What was UTG INC's revenue in fiscal 2025?

UTG INC reported revenue of $42.3M for fiscal 2025, 50.1% lower than the year before.

Was UTG INC profitable in fiscal 2025?

Yes. Net income was $17.1M, a net margin of 40.3%.

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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