Palomar Holdings, Inc. (PLMR)
Palomar Holdings, Inc. functions as an insurance holding company dedicated to providing specialized property coverage for both private homeowners and businesses. Its comprehensive product range encompasses essential offerings such as residential and commercial earthquake policies, commercial all-risk protection, tailored homeowners' insurance, inland marine coverage, and Hawaii hurricane policies. Furthermore, the company extends its services to include residential and commercial flood insurance, along with other specialized financial products like assumed reinsurance, real estate error and omission (E&O) coverage, and specific solutions for real estate investors. Palomar distributes its policies through a varied network, including independent retail agents, wholesale brokers, program administrators, and collaborative agreements with other insurance carriers. The company, which was previously named GC Palomar Holdings, was founded in 2013 and maintains its corporate headquarters in La Jolla, California.
Sector: Fire, Marine & Casualty Insurance
Industry: Insurance - Property & Casualty
Palomar Holdings, Inc.
NASDAQ:PLMRFinancial Services · Insurance - Property & Casualty
-1.90%$141.78
AH Close$141.78+0.00%vs close
AH Close$141.78+0.00%vs close
Mkt Cap$3.73B
Float25.69M
O/S26.32M
Inst Own92.6%
SI2.9%
Div Yield0.32%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$875.97M
Net Income$197.07M
Total Assets$2.23B
Free Cash Flow$401.99M
Debt & Equity
Debt 1%
Equity 99%
Total Debt$7.09M
Total Equity$942.67M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in PLMR's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$2.23B
Liabilities$1.28B
Accounts Receivable$452.91M
Accounts Payable$387.08M
Inventory$0
PP&E (Net)$2.55M
Goodwill$0
Intangible Assets$80.3M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $875.97M | $553.86M | $375.93M | $327.09M | $247.79M | $168.46M | $113.3M | $72.97M | $59.47M | $42.7M |
| YoY Growth | 58.2% | 47.3% | 14.9% | 32.0% | 47.1% | 48.7% | 55.3% | 22.7% | 39.3% | - |
| Cost of Revenue | $228.59M | $284.42M | $180.34M | $189.44M | $136.89M | $128.16M | $42.85M | $34.5M | $37.65M | $24.63M |
| Gross Profit | $647.37M | $269.45M | $195.59M | $137.64M | $110.9M | $40.31M | $70.44M | $38.47M | $21.82M | $18.06M |
| Gross Margin | 73.9% | 48.6% | 52.0% | 42.1% | 44.8% | 23.9% | 62.2% | 52.7% | 36.7% | 42.3% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | $393.98M | $118.25M | $91.95M | $70.09M | $53.76M | $34.08M | $52.37M | $20.26M | $16.89M | $11.79M |
| Total Operating Expenses | $393.98M | $118.25M | $91.95M | $70.09M | $53.76M | $34.08M | $52.37M | $20.26M | $16.89M | $11.79M |
| Operating Income (EBIT) | $253.39M | $151.2M | $103.64M | $67.55M | $57.14M | $6.22M | $18.08M | $18.21M | $4.93M | $6.28M |
| Operating Margin | 28.9% | 27.3% | 27.6% | 20.7% | 23.1% | 3.7% | 16.0% | 25.0% | 8.3% | 14.7% |
| Interest Expense | $392K | $1.14M | $3.77M | $873K | $40K | $0 | $1.07M | $2.3M | $1.75M | $1.63M |
| Interest Income | $57.03M | $36.51M | $24.22M | $14.37M | $9.58M | $9.04M | $0 | $3.55M | $2.43M | $1.9M |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $253.39M | $151.2M | $103.64M | $67.55M | $57.14M | $6.22M | $18.08M | $18.21M | $4.93M | $6.28M |
| Income Tax Expense | $56.32M | $33.62M | $24.44M | $15.38M | $11.29M | -$34K | $7.46M | -$6K | $1.15M | -$337K |
| Net Income | $197.07M | $117.57M | $79.2M | $52.17M | $45.85M | $6.26M | $10.62M | $18.22M | $3.78M | $6.61M |
| Net Income Margin | 22.5% | 21.2% | 21.1% | 15.9% | 18.5% | 3.7% | 9.4% | 25.0% | 6.4% | 15.5% |
| Supplementary Data | ||||||||||
| EPS | 7.40 | 4.61 | 3.19 | 2.07 | 1.80 | 0.25 | 0.49 | 0.81 | 0.17 | 0.29 |
| Diluted EPS | 7.17 | 4.48 | 3.13 | 2.02 | 1.76 | 0.24 | 0.49 | 0.81 | 0.17 | 0.29 |
| Weighted Average OS | 26.64M | 25.52M | 24.82M | 25.24M | 25.46M | 24.87M | 21.50M | 22.63M | 17.20M | 17.00M |
| EBITDA | $262.71M | $157.44M | $111.92M | $72.54M | $60.72M | $7.56M | $19.36M | $20.73M | $6.83M | $8M |
| EBITDA Margin | 30.0% | 28.4% | 29.8% | 22.2% | 24.5% | 4.5% | 17.1% | 28.4% | 11.5% | 18.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $106.89M | $80.44M | $51.55M | $68.11M | $50.28M | $33.54M | $33.12M | $9.53M | $10.78M | $9.76M |
| Short-Term Investments | $618.28M | $470.43M | $643.8M | $515.06M | $432.68M | $397.99M | $217.15M | $122.22M | $101.91M | $0 |
| Cash and Short-Term Investments | $725.15M | $550.86M | $695.35M | $583.17M | $482.97M | $431.52M | $250.27M | $131.75M | $112.69M | $9.76M |
| Accounts Receivable | $452.91M | $700.88M | $538.77M | $356.47M | $245.33M | $153.57M | $53.49M | $0 | $29.97M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | -$80.27M | -$31.91M | -$38.37M | $0 |
| Other Current Assets | -$974.18M | -$1.53B | -$1.5B | $3.83M | $2.81M | $0 | $54.17M | $31.91M | $8.4M | $0 |
| Total Current Assets | $559.8M | $0 | $0 | $1.15B | $789.42M | $585.1M | $303.76M | $164.94M | $142.66M | $9.76M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $2.55M | $429K | $373K | $603K | $527K | $739K | $845K | $947K | $827K | $920K |
| Goodwill | $0 | $3.75M | $3.75M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $80.3M | $9.49M | $8.56M | $8.26M | $9.5M | $11.51M | $744K | $744K | $744K | $11.4M |
| Long-Term Investments | $733.74M | $517.29M | $45.78M | $38.58M | $33.26M | $422.31M | $239.48M | $147.39M | $125.5M | $0 |
| Deferred Tax Assets | $761K | $0 | $0 | $0 | $0 | $8.6M | $4.58M | $0 | $0 | $0 |
| Other Long-Term Assets | $849.19M | $1.73B | $1.65B | $111.45M | $93.03M | -$8.6M | -$4.58M | -$149.08M | -$127.07M | $123.06M |
| Total Long-Term Assets | $1.67B | $2.26B | $1.71B | $158.89M | $136.31M | $434.56M | $241.07M | $149.08M | $127.07M | $135.38M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | -$290.56M | -$149.37M | -$82.89M | -$81.38M | $0 |
| Total Assets | $2.23B | $2.26B | $1.71B | $1.31B | $925.73M | $729.09M | $395.46M | $231.13M | $188.35M | $145.13M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $387.08M | $260.25M | $224.12M | $171.89M | $58.74M | $42.96M | $24.94M | $19.85M | $11.57M | $0 |
| Short-Term Debt | $927K | $1.05M | $52.6M | $36.4M | $904K | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $7.25M | $0 | $0 | $0 | $1.12M | $0 | $11K | $0 |
| Current Unearned Revenue | $632.23M | $741.69M | $597.1M | $471.31M | $226.35M | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$1.02B | -$1B | -$881.08M | $242.09M | $245.57M | $0 | -$24.93M | -$19.85M | -$11.58M | $0 |
| Total Current Liabilities | $0 | $0 | $0 | $921.7M | $531.57M | $42.96M | $1.12M | $24.97M | $11.57M | $0 |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $0 | $6.71M | $52.6M | $36.4M | $1.28M | $0 | $0 | $19.08M | $17.09M | $16.97M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $19.13M | $5.38M | $2M | $0 | $0 | $0 |
| Other Long-Term Liabilities | $1.28B | $381.86M | $641.13M | $486.5M | $310.74M | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $1.28B | $395.29M | $694.17M | $524M | $331.16M | $5.38M | $2M | $19.08M | $17.09M | $16.97M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $317.04M | $173.52M | $95.91M | $81.29M | $0 |
| Total Liabilities | $1.28B | $1.53B | $1.24B | $921.7M | $531.57M | $365.38M | $176.91M | $139.96M | $109.94M | $16.97M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3K | $3K | $3K | $3K | $3K | $3K | $2K | $2K | $2K | $0 |
| Retained Earnings | $422M | $262.22M | $144.64M | $87.71M | $69.95M | $39.96M | $33.86M | $275K | $6.92M | $3.59M |
| Comprehensive Income & Other | -$2.51M | -$26.84M | -$23.99M | -$36.52M | $5.31M | $13.25M | $4.69M | -$563K | $2.99M | $1.02M |
| Other Stockholders' Equity | $520.66M | $466.81M | $326.61M | $297.04M | $324.21M | $323.75M | $184.7M | $90.9M | $71.49M | $69.52M |
| Total Equity | $942.67M | $729.03M | $471.25M | $384.75M | $394.17M | $363.71M | $218.56M | $91.17M | $78.41M | $73.11M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.23B | $2.26B | $1.71B | $1.31B | $925.73M | $729.09M | $395.46M | $231.13M | $188.35M | $90.08M |
| Supplementary Data | ||||||||||
| Total Debt | $7.09M | $0 | $52.6M | $36.4M | $3.47M | $0 | $0 | $19.08M | $17.09M | $16.97M |
| Net Debt | -$99.8M | -$80.44M | $1.05M | -$31.71M | -$46.81M | -$33.54M | -$33.12M | $9.55M | $6.31M | $7.22M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | $197.07M | $117.57M | $79.2M | $52.17M | $45.85M | $6.26M | $10.62M | $18.22M | $3.78M | $6.61M |
| Depreciation & Amortization | $8.93M | $5.11M | $4.5M | $4.12M | $3.54M | $1.34M | $216K | $212K | $160K | $88K |
| Deferred Income Tax | $1.87M | $2.11M | -$2.83M | -$3.52M | $641K | $1.09M | $646K | $0 | $1.13M | -$337K |
| Stock-Based Compensation | $21.01M | $16.68M | $14.91M | $11.62M | $5.58M | $2.17M | $24.1M | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$220.61M | -$162.12M | -$182.29M | -$111.14M | -$91.76M | -$100.23M | -$20.3M | -$3.48M | -$16.93M | -$4.06M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $136.63M | $36.59M | -$5.04M | $30.41M | $15.39M |
| Accounts Payable | $74.35M | $37.6M | $51.28M | $114.09M | $14.28M | $16.85M | $4.06M | $8.29M | $5.72M | $1.4M |
| Other Working Capital | $348.29M | $249.71M | $154.28M | $92.87M | $108.53M | -$10.28M | -$11.15M | $1.11M | -$4.51M | -$3.85M |
| Total Working Capital Change | $202.03M | $125.2M | $23.27M | $95.82M | $31.05M | $42.97M | $9.2M | $884K | $14.7M | $8.88M |
| Other Non-Cash Items | -$21.8M | -$5.51M | -$2.95M | $9.37M | $1.15M | -$274K | -$3.09M | $3.49M | $473K | $581K |
| Net Cash from Operating | $409.12M | $261.16M | $116.11M | $169.58M | $87.81M | $53.55M | $41.7M | $22.81M | $20.25M | $15.82M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$137K | -$243K | -$15K | -$313K | -$18K | -$4.07M | -$2.93M | -$332K | -$68K | -$898K |
| Acquisitions | -$69.83M | $0 | -$8.53M | -$15K | -$11K | -$7.07M | $2.81M | $0 | $0 | $4K |
| Purchases of Investments | -$903.91M | -$607.1M | -$234.72M | -$392.63M | -$216.57M | -$341.95M | -$270.44M | -$136.46M | -$54.21M | -$40.1M |
| Sales of Investments | $627.57M | $310.86M | $120.58M | $242.73M | $161.75M | $170.23M | $188.97M | $111.17M | $35.4M | $29.46M |
| Other Investing Activities | -$7.67M | $301.1M | -$5.79M | -$6.57M | -$3.34M | $1.42M | $1.02M | $250K | -$250K | $4K |
| Net Cash from Investing | -$353.98M | -$306.24M | -$128.48M | -$156.81M | -$58.19M | -$181.44M | -$80.57M | -$25.36M | -$19.13M | -$11.53M |
| Financing Activities | ||||||||||
| Debt Repaid | -$15M | -$63.12M | -$16.2M | -$36.4M | - | - | $20M | -$1.55M | - | - |
| Common Stock Issuance | $4.92M | $123.62M | $0 | $0 | $0 | $125.55M | $87.41M | $0 | $0 | $0 |
| Common Stock Repurchases | -$37.28M | $0 | -$22.27M | -$34.41M | -$15.85M | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | -$5.12M | $0 | $0 | $0 |
| Other Financing Activities | $3.58M | -$112.97M | $2.13M | $3.03M | $2.81M | $2.78M | $0 | $0 | $0 | $0 |
| Net Cash from Financing | -$28.79M | $73.77M | -$3.94M | $5.02M | -$13.04M | $128.33M | $62.29M | $1.55M | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $26.35M | $28.69M | -$16.31M | $17.79M | $16.59M | $437K | $23.43M | -$1.01M | $1.12M | $4.29M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $409.12M | $261.16M | $116.11M | $169.58M | $87.81M | $53.55M | $41.7M | $22.81M | $20.25M | $15.82M |
| Capital Expenditure | -$7.13M | -$243K | -$6.76M | -$5.94M | -$4.85M | -$4.07M | -$2.93M | -$332K | -$68K | -$898K |
| Free Cash Flow | $401.99M | $260.91M | $109.35M | $163.65M | $82.96M | $49.48M | $38.77M | $22.48M | $20.18M | $14.93M |
| Cash at Beginning | $80.54M | $51.85M | $68.16M | $50.37M | $33.79M | $33.35M | $9.92M | $10.93M | $9.81M | $5.52M |
| Cash at End | $106.89M | $80.54M | $51.85M | $68.16M | $50.37M | $33.79M | $33.35M | $9.92M | $10.93M | $9.81M |