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Hartford Financial Services Group, Inc.

HIG

Fire, Marine & Casualty Insurance

Mkt Cap

$30.01B

PE

12.09

Debt

$4.362B

Cash

$189M

EV

$34.18B

FCF

$4.005B

Market Cap

$30.01B

P/E Ratio

12.09

Debt

$4.362B

Cash

$189M

EV

$34.18B

FCF

$4.005B
Charts data: {"Earnings":[{"time":"2014-12-30","value":798000000},{"time":"2015-12-30","value":1682000000},{"time":"2016-12-30","value":896000000},{"time":"2017-12-30","value":-3131000000},{"time":"2018-12-30","value":1801000000},{"time":"2019-12-30","value":2064000000},{"time":"2020-12-30","value":1716000000},{"time":"2021-12-30","value":2344000000},{"time":"2022-12-30","value":1794000000},{"time":"2023-12-30","value":2483000000}],"Sales":[{"time":"2014-12-30","value":18614000000},{"time":"2015-12-30","value":18377000000},{"time":"2016-12-30","value":18300000000},{"time":"2017-12-30","value":16974000000},{"time":"2018-12-30","value":18955000000},{"time":"2019-12-30","value":20740000000},{"time":"2020-12-30","value":20523000000},{"time":"2021-12-30","value":22390000000},{"time":"2022-12-30","value":22362000000},{"time":"2023-12-30","value":24527000000}],"Net Margins":[{"time":"2014-12-30","value":0.042870957343934674},{"time":"2015-12-30","value":0.09152745279425369},{"time":"2016-12-30","value":0.04896174863387978},{"time":"2017-12-30","value":-0.18445858371627194},{"time":"2018-12-30","value":0.09501450804537062},{"time":"2019-12-30","value":0.09951783992285439},{"time":"2020-12-30","value":0.08361350679725187},{"time":"2021-12-30","value":0.1046895935685574},{"time":"2022-12-30","value":0.08022538234504964},{"time":"2023-12-30","value":0.1012353732621193}],"Assets":[{"time":"2014-12-30","value":245013000000},{"time":"2015-12-30","value":228348000000},{"time":"2016-12-30","value":223432000000},{"time":"2017-12-30","value":225260000000},{"time":"2018-12-30","value":62307000000},{"time":"2019-12-30","value":70817000000},{"time":"2020-12-30","value":74111000000},{"time":"2021-12-30","value":76578000000},{"time":"2022-12-30","value":73022000000},{"time":"2023-12-30","value":76780000000}],"Stockholders Equity":[{"time":"2014-12-30","value":18720000000},{"time":"2015-12-30","value":17642000000},{"time":"2016-12-30","value":16903000000},{"time":"2017-12-30","value":13494000000},{"time":"2018-12-30","value":13101000000},{"time":"2019-12-30","value":16270000000},{"time":"2020-12-30","value":18556000000},{"time":"2021-12-30","value":17843000000},{"time":"2022-12-30","value":13631000000},{"time":"2023-12-30","value":15327000000}],"ROE":[{"time":"2014-12-30","value":0.04262820512820513},{"time":"2015-12-30","value":0.09534066432377282},{"time":"2016-12-30","value":0.05300834171448855},{"time":"2017-12-30","value":-0.2320290499481251},{"time":"2018-12-30","value":0.13747042210518282},{"time":"2019-12-30","value":0.12685925015365704},{"time":"2020-12-30","value":0.09247682690234964},{"time":"2021-12-30","value":0.13136804349044442},{"time":"2022-12-30","value":0.1316117672951361},{"time":"2023-12-30","value":0.1620016963528414}],"ROA":[{"time":"2014-12-30","value":0.008468938382861318},{"time":"2015-12-30","value":0.01022562054408184},{"time":"2016-12-30","value":0.00511565039922661},{"time":"2017-12-30","value":0.004612447838053805},{"time":"2018-12-30","value":0.032917649702280644},{"time":"2019-12-30","value":0.03980682604459381},{"time":"2020-12-30","value":0.031790152608924455},{"time":"2021-12-30","value":0.03781764997780041},{"time":"2022-12-30","value":0.030922187833803513},{"time":"2023-12-30","value":0.04021880698098463}]}

The Hartford Financial Services Group, Inc. provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers. The company's Personal Lines segment provides automobile, homeowners, and personal umbrella coverages through direct-to-consumer channel and independent agents. Its Property & Casualty Other Operations segment offers coverage for asbestos and environmental exposures. The company's Group Benefits segment provides group life, disability, and other group coverages to members of employer groups, associations, and affinity groups through direct insurance policies; reinsurance to other insurance companies; employer paid and voluntary product coverages; disability underwriting, administration, and claims processing to self-funded employer plans; and a single-company leave management solution. This segment distributes its group insurance products and services through brokers, consultants, third-party administrators, trade associations, and private exchanges. Its Hartford Funds segment offers managed mutual funds across various asset classes; and exchange-traded products through broker-dealer organizations, independent financial advisers, defined contribution plans, financial consultants, bank trust groups, and registered investment advisers, as well as investment management, distribution, and administrative services, such as product design, implementation, and oversight. The company was founded in 1810 and is headquartered in Hartford, Connecticut.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$4.005B$4.401B$4.812B$5.236B$5.669B$6.106B$6.544B$6.978B$7.402B$7.813B$8.203B$82.03B
DCF$3.827B$3.639B$3.443B$3.241B$3.036B$2.829B$2.623B$2.42B$2.221B$2.028B$20.28B
Value$49.58B

In the chart Earnings are multiplied by this value.

Earnings Growth 8.5%
Earnings Stability 24%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin9.2%4.9%-18%9.5%10%8.4%10%8%10%10%
ROA1%0.51%0.46%3.3%4%3.2%3.8%3.1%4%4%
ROE9.5%5.3%-23%14%13%9.2%13%13%16%16%

What is the average Net Margin?

The average Net Margin over the past 5 years is +9.4%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -0.02%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +3.56%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.05%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +13.03%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +0.5%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF2.192.742.581.721.431.161.251.141.091.09
Debt Equity0.300.300.370.360.300.230.280.320.280.28
MIN
Graham Stability---280%--100%100%88%100%-280%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 1.09.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.11.

What is the Graham’s Stability?

Graham’s Stability measure stands at -2.78.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201812-202012-2022Trend
Revenue4.3%5.3%6.1%9.7%1.1%
Net Income16%6.6%13%38%-3.9%
Stockholders Equity-1.4%3.2%-6.2%12%1.1%
FCF12%8%2.2%4.5%-1.7%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +5.29%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +1.08%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +6.63%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -3.95%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +3.19%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +1.07%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +8.04%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -1.69%.