| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 8.0x | 17.8x | Top tier | |
Growth | 85 | 22.8% | 7.1% | Top tier | |
Quality | 98 | — | — | Top tier | |
Safety | 57 | — | — | Around median | |
Capital Return | 29 | 0.86% | 2.12% | Bottom tier | |
Momentum | 71 | 15.2% | 2.9% | Top tier | |
Sentiment | 64 | 3 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
HCI Group operates through an insurance ecosystem comprising four risk-bearing carriers, with total premiums in force reaching $1.3 billion entering Q2 fiscal 2026. The group generates revenue from insurance premiums, investment income, and other revenue, including business conducted by Exzeo and Griston with customers outside HCI. It also has reinsurance operations through Claddaugh and Fortex Reinsurance, as well as a real estate portfolio. Management stated that all four insurance companies have been profitable since inception, while Tailrow’s premiums in force exceeded $120 million after completing more than half of the Citizens policy takeouts during 2025.
In Q2 fiscal 2026, HCI recorded revenue of $246.7 million, net income of $73.8 million, and earnings per share of $5.60, implying a calculated net income margin of approximately 29.9%. This compares with revenue of $242.9 million, net income of $73.4 million, and earnings per share of $5.45 in Q1 fiscal 2026; revenue therefore increased sequentially by approximately 1.6%, while net income grew by approximately 0.5%. The provided EDGAR data do not include a gross profit figure or a complete quantitative breakdown of revenue by business activity for Q2 fiscal 2026.
For the trailing twelve months ended in 2026, revenue totaled $952.1 million, net income $310.4 million, and earnings per share approximately $24.52, compared with $900.9 million, $299.0 million, and $22.72, respectively, in fiscal 2025. In Q1 fiscal 2026, gross earned premiums increased by slightly more than 8% and revenue by slightly more than 12% year over year, while the loss ratio was 20% and the combined ratio was 57%. Management attributed revenue growth to premiums, investment income, and the significant increase in other revenue, partly related to Exzeo’s and Griston’s business outside the group.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” and the average price target is $225, with the highest and lowest targets both at $225; this alignment does not provide a diverse range of estimates. The target is approximately 6.9% above the 52-week range high of $210.50, while the annual range extends from $144.75 to $210.50, meaning the target assumes the annual high will be exceeded, supported by earnings and Exzeo’s value. The data do not include an available price-to-earnings ratio, so reported book value near $85 and management’s estimated adjusted book value near $145 remain more stable reference points, while recognizing that the adjusted estimate depends on the fair values of Exzeo and the real estate portfolio.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
HCI recorded revenue of $246.7 million and net income of $73.8 million in Q2 fiscal 2026. Earnings per share were $5.60, while the calculated net income margin was approximately 29.9%. Compared with Q1 fiscal 2026, revenue grew by approximately 1.6% and net income by approximately 0.5% sequentially.
HCI owns approximately 75 million shares of Exzeo, which management valued at approximately $1.5 billion on the May 6, 2026 call. Exzeo’s revenue from outside HCI is reported within other revenue, which management said nearly tripled quarter over quarter in Q1 fiscal 2026. By adding the fair value of Exzeo and the real estate portfolio, management estimated HCI’s adjusted book value per share at approximately $145 instead of the reported book value near $85.
The loss ratio was 20% in Q1 fiscal 2026, a level close to the comparable period according to management. The combined ratio was also 57%, approximately equal to the fiscal 2025 level and better than management’s target of 60%, with a 5-percentage-point margin. Management attributed the performance to lower claim frequency and litigation, but explained that weather remains the most significant factor capable of moving the loss ratio.
HCI licensed Fortex Reinsurance in Q1 fiscal 2026 in the Cayman Islands as a Class B insurer. It is the group’s second reinsurance company alongside Bermuda-registered Claddaugh. Fortex is intended to give the group additional flexibility to selectively retain risk and reduce the cost of external reinsurance, while actual results remain linked to the pricing of protection and the amount of risk retained.
Shareholders’ equity exceeded $1 billion in Q1 fiscal 2026 after doubling within a year, and the group held approximately $2 billion in cash and fixed-maturity securities. The debt-to-capital ratio was only 6%, while insurance company surplus exceeded $500 million after growing 22%. At the same time, HCI used approximately $37.5 million of an $80 million repurchase authorization to repurchase 239 thousand shares through the end of April 2026.
The clearest operating risk is the exposure of insurance results to weather and storms, because management identified the loss ratio as the largest driver of the combined ratio. Stable average premium per policy and an easing pricing environment may also limit pricing-driven premium growth after Q1 fiscal 2026. Fortex and the new insurance initiatives add growth opportunities, but risk-retention decisions and the outcomes of the two or three opportunities management is evaluating had not become certain financial results as of the May 6, 2026 call.
