Palomar Holdings, Inc.

Finance
Property-Casualty Insurers
plmr.com

Earnings Score
Moat Score

Market Cap $2.78B
PE 26
Debt $NaN
Cash $86.48M
EV $NaN
FCF $210.60M

Earnings

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Sales & Net Margins

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Earnings	$108.50M
EBIT	$139.69M
ROE	15%
ROA	6%
FCF	$210.60M
Equity	$703.31M
Growth Stability	58%
PE	25.64
PEG	0.46
PB	3.96
P/FCF	13.21
P/S	5.52
Price/Cash	0.03
Net Margins	21%
Op. Margins	28%
Earnings CAGR	53%
Sales Growth YoY	63%
Sales Growth QoQ	13%
Sales CAGR	39%
FCF CAGR	23%
Equity CAGR	33%
Earnings Stability	0.22

Earnings Growth YoY	65%
Earnings Growth QoQ	19%
Earnings CAGR 5Y	55%
Sales CAGR 5Y	34%
FCF CAGR 5Y	27%
Equity CAGR 5Y	14%
Earnings CAGR 3Y	24%
Sales CAGR 3Y	24%
FCF CAGR 3Y	13%
Equity CAGR 3Y	20%
Market Cap	$2.78B
Revenue	$503.50M
Assets	$2.28B
Cash	$86.48M
Shares Outstanding	25.19M
Earnings Score	13%
Moat Score	88%
Shares Growth 3y	-1%
Equity Growth QoQ	32%
Equity Growth YoY	67%

Assets & ROA

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Stockholders Equity & ROE

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Palomar Holdings Inc is a United States-based company focused on the provision of specialty property insurance primarily earthquake, wind, and flood insurance products. The company's core focus is on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington, and states with exposure to the New Madrid Seismic Zone. It offers specialty property insurance products in the target markets to both individuals and businesses through multiple channels, including retail agents, program administrators, wholesale brokers, and in partnership with other insurance companies. Its products include Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Inland Marine, Commercial All Risk, Hawaii Hurricane, Residential Flood and others.

SEC Filings

Direct access to Palomar Holdings, Inc. (PLMR) 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 Palomar Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Palomar Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 53%

Stability 22%

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Palomar Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Palomar Holdings, Inc..

Years

Calculation mode

= $10B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$211M	$259M	$317M	$390M	$478M	$587M	$721M	$885M	$1.1B	$1.3B	$1.6B	$16B
DCF		$235M	$262M	$293M	$327M	$365M	$407M	$454M	$507M	$566M	$632M	$6.3B
Value	$10B

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	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	6%	25%	9%	4%	19%	16%	21%	21%
ROA	-	9%	5%	1%	6%	5%	6%	6%
ROE	-	19%	5%	2%	12%	14%	17%	15%

Good Net Margins (20.75%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce 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	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	58%	100%	100%	100%	58%

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.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (58%)

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	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	23%	55%	49%	47%	32%	15%	34%
Earnings YoY growth	-	382%	-42%	-41%	633%	14%	52%	55%
Equity YoY growth	-	23%	127%	66%	8%	-2%	22%	14%
FCF YoY growth	-	11%	85%	28%	64%	93%	-31%	27%