UNIVERSAL INSURANCE HOLDINGS, INC. financial statements

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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	685	752	824	939	1,073	1,122	1,223	1,392	1,521	1,604
Selling, general and administrative	221	231	256	272	290	314	305	304	342
Interest expense	0.4	0.3	0.3	0.24	0.1	0.64	6.61	6.53	6.48	6.42
Pre-tax income	163	170	153	63.5	24.2	28.4	-27.2	88.3	84.6	243
Income tax	63.5	63.5	35.8	17	5.13	8.01	-4.99	21.5	25.7	60.1
Net income	99.4	107	117	46.5	19.1	20.4	-22.3	66.8	58.9	183
EPS, basic	2.85	3.07	3.36	1.37	0.60	0.65	-0.72	2.24	2.07	6.56
EPS, diluted	2.79	2.99	3.27	1.36	0.60	0.65	-0.72	2.22	2.01	6.32
Shares, basic (weighted)	34.9	34.8	34.9	33.9	31.9	31.2	30.8	29.8	28.5	27.9
Shares, diluted (weighted)	35.7	35.8	35.8	34.2	32	31.3	30.8	30.1	29.3	29
Dividend per share	0.69	0.69	0.73	0.77	0.77	0.77	0.77	0.77	0.77	0.77

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	106	213	166	182	167	251	389	397	259	409
Short-term investments	5	10	0
Property, plant and equipment	32.2	32.9	35	41.4	53.6	53.7	51.4	47.6	48.7	49.3
Long-term investments		639	820
Total assets	1,060	1,455	1,858	1,720	1,759	2,056	2,890	2,317	2,842	2,840
Total liabilities	689	1,015	1,357	1,226	1,309	1,626	2,602	1,975	2,469	2,289
Total debt	15	12.9	11.4		8.46	104	103	102	101	100
Paid-in capital	82.3	86.2	86.4	96	103	108	113	115	122	124
Retained earnings	382	465	553	574	568	564	517	561	597	757
Treasury stock	-87	-105	-130	-197	-226	-227	-239	-261	-283	-305
Other comprehensive income	-6.41	-6.28	-8.01
Shareholders' equity	371	440	502	494	449	430	288	341	373	551
Total equity	371	440	502	494	449	430	288	341	373	551
Total liabilities and equity	1,060	1,455	1,858	1,720	1,759	2,056	2,890	2,317	2,842	2,840
Shares outstanding	35.1	34.7	34.8	32.6	31.1	31.2	30.4	29	28.1	28

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	99.4	107	117	46.5	19.1	20.4	-22.3	66.8	58.9	183
Depreciation and amortization	3.1	4.06	4.82	4.96	5.11	6.91	7.3	7.31	6.12	6.44
Stock-based compensation	10.3	10.5	12.8	13	8.7	5.82	4.73	2.92	8.12	8.65
Deferred income tax	4.72	1.31	-3.74	1.97	2.79	-4.27	-12.1	4.41	-2.57	2.57
Change in payables	2.81	-0.32	0.19	-0.96
Cash from operations	121	245	230	84.6	29.3	234	325	71	137	381
Capital expenditures	-8.22	-4.62	-6.73	-11.3	-17.2	-7.23	-4.9	-4.02	-7.37	-4.44
Purchases of investments	-320	-181	-438	-222	-1,075	-450	-200	-146	-385	-430
Sales and maturities of investments	54.6	97.2	111	145	140	89.5	69	109	107	191
Cash from investing	-174	-85.7	-212	28.3	22	-229	-149	-15.3	-228	-114
Debt issued				0	0	100	0	0
Debt repaid	-2.14	-2.17	-1.47	-1.47	-1.47	-1.47	-1.47	-1.47	-1.47	-1.47
Stock issued	0.12	0	0.12	0.24	0	0
Share buybacks	-8.51	-18.1	-25.3	-66.2	-28.9	-1.61	-11.6	-22	-21.9	-22.4
Dividends paid	-24.2	-24	-25.5	-26.1	-24.5	-24.2	-23.8	-23.3	-22.3	-22.2
Cash from financing	-38.4	-51.5	-64.9	-97.2	-56.3	68.3	-37.5	-47.1	-47.1	-52.1
Net change in cash	-91.3	108	-47.1	15.7	-4.87	73.3	138	8.6	-138	216
Free cash flow	113	240	223	73.3	12.1	227	320	67	130	377
Interest paid	0.42	0.35	0.35	0.25	0.1	0.13	5.8	5.82	5.77	5.71
Income taxes paid	63.4	68.9	42	38.9	0.02	0.02	4.2	9.7	27.6	35.6

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 $42.14 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	18.0%	Pre-tax income / revenue.
Net margin	13.5%	Net income / revenue.
FCF margin	20.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.1%	Cash from operations / revenue.
Effective tax rate	24.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	34.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.7%	Net income / average total assets.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.5%	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	8.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	210.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	57.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	214.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	60.1%	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	177.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.5%	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	67.0%	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	190.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	5.7%	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	98.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	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	0.0%	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	47.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	24.2%	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	4.2%	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	-0.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.6%	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	10.1%	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	-1.1%	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	-2.0%	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	-2.0%	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	0.15x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.0%	Total debt / total assets.
Liabilities / assets	80.7%	Total liabilities / total assets.
Net debt	-$434.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$637.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.49x	Revenue / average total assets.
Fixed asset turnover	33.5x	Revenue / average property, plant and equipment.
FCF conversion	154.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.58	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	$56.11	Revenue / diluted weighted shares.
FCF per share	$11.70	Free cash flow / diluted weighted shares.
Operating cash flow per share	$11.86	Cash from operations / diluted weighted shares.
Book value per share	$22.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$22.89	Tangible book value / shares outstanding.
Cash per share	$19.12	(Cash + short-term investments) / shares outstanding.
Payout ratio	10.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	6.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	7.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.17B	Share price x shares outstanding.
Enterprise value	$738.5M	Market cap + total debt - cash - short-term investments.
P/E	5.33x	Market cap / net income. Only when net income is positive.
P/S	0.72x	Market cap / revenue.
P/B	1.84x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.84x	Market cap / tangible book value, when positive.
P/FCF	3.45x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.41x	Market cap / cash from operations, when positive.
EV/Sales	0.45x	Enterprise value / revenue.
EV/FCF	2.17x	Enterprise value / free cash flow, when both are positive.
FCF yield	29.0%	Free cash flow / market cap.
Earnings yield	18.8%	Net income / market cap (the inverse of P/E).
Dividend yield	1.9%	Dividends paid over the period / market cap.
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.

What was UNIVERSAL INSURANCE HOLDINGS, INC.'s revenue in fiscal 2025?

UNIVERSAL INSURANCE HOLDINGS, INC. reported revenue of $1.60B for fiscal 2025, 5.5% higher than the year before.

Was UNIVERSAL INSURANCE HOLDINGS, INC. profitable in fiscal 2025?

Yes. Net income was $183.0M, a net margin of 11.4%.

How much free cash flow did UNIVERSAL INSURANCE HOLDINGS, INC. generate in fiscal 2025?

Cash from operations of $381.5M minus capital expenditures of $4.4M left free cash flow of $377.1M.

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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