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Palomar Holdings, Inc.

Palomar Holdings, Inc.

NASDAQ•PLMR
CEO: Mr. D. McDonald Armstrong
Sector: Financial Services
Industry: Insurance - Property & Casualty
Listing Date: 2019-04-17
Palomar Holdings, Inc., a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance. It markets and distributes its products through retail agents, wholesale brokers, program administrators, and carrier partnerships. The company was formerly known as GC Palomar Holdings and changed its name to Palomar Holdings, Inc. The company was incorporated in 2013 and is headquartered in La Jolla, California.
Contact Information
7979 Ivanhoe Avenue, Suite 500, La Jolla, CA, 92037, United States
619-567-5290
plmr.com
Market Cap
$3.47B
P/E (TTM)
19.6
13
Dividend Yield
--
52W High
$175.85
52W Low
$98.42
52W Range
40%
6.1
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Strong • 6.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2024

Financial Dashboard

Q3 2025 Data

Revenue

$244.66M+64.75%
4-Quarter Trend

EPS

$1.93+63.56%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Net Income Surge Nine months net income reached $140.9M, reflecting strong 70.6% growth compared to prior period results.
Strong Premium Volume Growth Net written premiums for nine months totaled $716.5M, marking a substantial 50.6% increase year-over-year.
Improved Underwriting Profitability The nine months combined ratio improved to 76.9% from 78.9%, indicating better underwriting efficiency.
Balance Sheet Expansion Total assets grew to $2.94B as of September 30, 2025, up from $2.26B at December 31, 2024.

Risk Factors

Catastrophe Event Concentration Business concentration in California exposes results significantly to regional loss activity and regulatory changes.
Reinsurance Recovery Uncertainty Inability to secure adequate reinsurance or reinsurer default could materially increase retained losses and volatility.
Loss Reserve Estimation Risk Reserves rely on estimates; inadequacy due to litigation or inflation trends could cause material adverse financial impact.
Cybersecurity and Technology Failure Reliance on complex IT systems and third-party cloud software creates exposure to security breaches and operational disruption.

Outlook

Acquisition of Surety Carrier Agreement signed October 2025 to acquire The Gray Casualty & Surety for approximately $300M; closing expected first half 2026.
Capital Return Program Board approved a new share repurchase program authorizing up to $150M in stock buybacks through July 2027.
Investment Portfolio Yield Fixed income portfolio maintains an average rating of 'A2/A' with book yield increasing to 4.84%.
Future Growth Strategy Focus remains on profitable growth by developing product offerings that harness core competencies in specialty insurance.

Peer Comparison

Revenue (TTM)

Kemper CorporationKMPR
$3.72B
-19.7%
WesBanco, Inc.WSBC
$1.47B
+59.6%
Community Financial System, Inc.CBU
$993.25M
+9.3%

Gross Margin (Latest Quarter)

Hercules Capital, Inc.HTGC
85.8%
-4.0 pp
FB Financial CorporationFBK
52.9%
+1.1 pp
WesBanco, Inc.WSBC
48.1%
-11.7 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PLMR$3.47B19.621.7%0.0%
HTGC$3.24B16.99.1%0.4%
WSBC$3.00B15.65.0%6.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+16.3%
Strong Growth
4Q Net Income CAGR
+13.7%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $244.66M+64.8%
    |
    EPS: $1.93+63.6%
    Meet

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $203.31M+54.7%
    |
    EPS: $1.74+68.9%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 6, 2025|
    Revenue: $174.63M+47.3%
    |
    EPS: $1.61+51.9%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $553.86M+47.3%
    |
    EPS: $4.61+44.5%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $148.50M+63.3%
    |
    EPS: $1.18+57.3%
    Meet

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $131.40M+45.4%
    |
    EPS: $1.03+45.1%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $118.54M+32.9%
    |
    EPS: $1.06+53.6%
    Meet

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $375.93M+14.9%
    |
    EPS: $3.19+54.1%
    Beat