Horace Mann Educators Corp

Finance
Property-Casualty Insurers
www.horacemann.com

Earnings Score
Moat Score

Market Cap $1.71B
PE 16
Debt $546.70M
Cash $39.80M
EV $2.22B
FCF $NaN

Earnings

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Sales & Net Margins

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Earnings	$104.10M
EBIT	$127.50M
ROE	8%
ROA	1%
Equity	$1.29B
Growth Stability	-2%
PE	16.45
PEG	-1.63
PB	1.33
P/S	1.08
Price/Cash	0.02
Debt/Equity	0.42
Net Margins	5%
Op. Margins	8%
Earnings CAGR	-0%
Sales Growth YoY	9%
Sales Growth QoQ	6%
Sales CAGR	4%
Equity CAGR	-1%
Earnings Stability	0
Earnings Growth YoY	193%
Earnings Growth QoQ	803%

Earnings CAGR 5Y	-10%
Sales CAGR 5Y	3%
Equity CAGR 5Y	-10%
Earnings CAGR 3Y	7%
Sales CAGR 3Y	7%
Equity CAGR 3Y	-8%
Market Cap	$1.71B
Revenue	$1.59B
Dividend Yield	3%
Payout Ratio	53%
Assets	$14.71B
Total Debt	$546.70M
Cash	$39.80M
Shares Outstanding	41.2M
EV	2.22B
Earnings Score	6%
Moat Score	61%
Shares Growth 3y	-1%
Equity Growth QoQ	6%
Equity Growth YoY	22%

Assets & ROA

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Stockholders Equity & ROE

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Horace Mann Educators Corp is a diversified insurance holding company that markets and underwrites personal lines of property and casualty insurance, retirement annuities, and life insurance. The company's property and casualty operations focus on automobile and homeowner insurance, while the retirement annuities are 403(b) tax-qualified products. Horace Mann Educators markets its products to kindergarten through 12th-grade teachers, administrators, and other employees of public schools and their families. The company uses several former teachers in its salesforce. Its segments include Property and Casualty, Supplemental, Retirement, Life, Corporate and Other.

SEC Filings

Direct access to Horace Mann Educators Corp (HMN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Horace Mann Educators Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Horace Mann Educators Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -0%

Stability 0%

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Horace Mann Educators Corp Discounted Cash Flow

Fully customizable DCF calculator online for Horace Mann Educators Corp .

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

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.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	10%	9%	7%	14%	2%	13%	10%	11%	-0%	3%	5%
ROA	-	1%	1%	1%	0%	2%	1%	1%	-0%	0%	1%
ROE	-	7%	6%	11%	1%	12%	7%	8%	-0%	4%	8%

Bad Net Margins (5.45%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

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.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	0.15	0.2	0.19	0.2	0.23	0.28	0.24	0.28	0.46	0.46	0.42
Growth Stability	-	-	-	100%	16%	100%	100%	100%	-2%	49%	-2%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.42)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-2%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

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.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	2%	4%	4%	2%	20%	-8%	2%	4%	8%	3%
Earnings YoY growth	-	-10%	-10%	102%	-89%	905%	-28%	7%	-102%	-2K%	-10%
Equity YoY growth	-	-5%	2%	16%	-14%	21%	14%	1%	-40%	8%	-10%
FCF YoY growth	-	-	-	-	-	-	-	-	-	-	-