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Tiptree Inc.

Tiptree Inc.

NASDAQ•TIPT
CEO: Mr. Michael Gene Barnes
Sector: Financial Services
Industry: Insurance - Specialty
Listing Date: 2010-10-15
Tiptree Inc., through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments. It also provides auto and consumer warranty programs, including mobile devices, consumer electronics, appliances, furniture; and vehicle service contracts, GAP, and ancillary products; as well as premium or warranty contract financing services, lead generation support, and business process outsourcing services. In addition, the company offers mortgage loans for institutional investors; asset management services; and maritime shipping and asset management services, as well as invests in shares. It markets its products through a network of independent insurance agents, consumer finance companies, online retailers, auto dealers, and regional big box retailers. The company was formerly known as Tiptree Financial Inc. and changed its name to Tiptree Inc. in December 2016. Tiptree Inc. was founded in 1978 and is headquartered in Greenwich, Connecticut.
Contact Information
660 Steamboat Road, 2nd Floor, Greenwich, CT, 06830, United States
212-446-1400
www.tiptreeinc.com
Market Cap
$696.19M
P/E (TTM)
11.7
21.1
Dividend Yield
2.6%
52W High
$27.41
52W Low
$17.07
52W Range
15%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$523.40M+5.87%
4-Quarter Trend

EPS

$0.17-43.33%
4-Quarter Trend

FCF

$133.38M+119.81%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenues Increased 1.8% Nine months revenues reached $1.57B, up 1.8% driven by earned premiums growth and investment gains compared to prior year.
Insurance Premium Growth Strong Gross written premiums for nine months totaled $2.52B, marking a 13.7% increase due to E&S expansion across geographies.
Adjusted Income Increased 18.1% Nine months Adjusted Net Income (before NCI) was $135.2M, showing strong 18.1% growth primarily from insurance operations.
Combined Ratio Improved 1.7 Points Insurance combined ratio improved to 88.5% for nine months, reflecting better underwriting performance despite a slight loss ratio increase.

Risk Factors

Merger Uncertainty Impacts Operations Pending Fortegra Merger creates uncertainty, potentially harming client relationships and diverting management attention post-announcement.
Significant Merger Transaction Costs Substantial non-recurring costs incurred related to the Merger, totaling $11.7M year-to-date, regardless of completion status.
Mortgage Business Volume Declining Mortgage origination volumes decreased 1.4% for the three months ended September 30, 2025, impacting segment income before taxes.
Litigation Risks Remain Unresolved Unresolved class action litigation regarding credit insurance claims could result in substantial costs or delay the anticipated Merger completion.

Outlook

Fortegra Merger Closing Anticipated Merger expected to close mid-2026, subject to stockholder and regulatory approvals, resulting in $1.65B cash consideration.
Reliance Sale Agreement Signed Purchase Agreement signed October 31, 2025, to sell Reliance for estimated $51M gross proceeds based on tangible book value.
Capital Allocation Flexibility Noted Merger proceeds intended for working capital, debt repayment, stock repurchases, or dividends, at Board discretion post-closing.
Insurance Growth Strategy Continues Insurance segment focuses on expanding E&S distribution partner network and growing specialty lines business mix for future revenue.

Peer Comparison

Revenue (TTM)

Tiptree Inc.TIPT
$2.05B
+3.9%
Donegal Group Inc.DGICA
$988.19M
+0.9%
BitFuFu Inc.FUFU
$473.27M
+4.5%

Gross Margin (Latest Quarter)

AMERISAFE, Inc.AMSF
89.8%
+39.6 pp
Tiptree Inc.TIPT
88.5%
-0.9 pp
MetroCity Bankshares, Inc.MCBS
62.7%
+2.6 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
HBNC$838.94M-4.1-25.2%6.8%
TRST$786.68M13.98.3%2.1%
AMSF$773.65M15.510.2%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+1.3%
Moderate Growth
4Q Net Income CAGR
-31.0%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $523.40M+5.9%
    |
    EPS: $0.17-43.3%
    N/A

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 30, 2025|
    Revenue: $526.97M-2.7%
    |
    EPS: $0.50+42.9%
    N/A

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $496.70M+0.2%
    |
    EPS: $0.15-37.5%
    N/A

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 3, 2025|
    Revenue: $2.04B+23.9%
    |
    EPS: $1.44+323.5%
    N/A

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $494.36M+18.7%
    |
    EPS: $0.30+25.0%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $541.61M+33.9%
    |
    EPS: $0.35+118.8%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 1, 2024|
    Revenue: $495.48M+29.8%
    |
    EPS: $0.24-900.0%
    N/A

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $1.65B+18.0%
    |
    EPS: $0.34+240.0%
    N/A