Hagerty, Inc. (HGTY)
Hagerty, Inc. operates globally, serving as an insurance agency that specializes in policies for automobiles and boats, in addition to offering reinsurance products. Beyond its core insurance offerings, the company provides a suite of services and platforms: Hagerty Media distributes content through its HDC Magazine, various video productions, and a dedicated YouTube channel. HDC (Hagerty Drivers Club) is a subscription service that grants members access to the HDC Magazine, exclusive automotive events, proprietary vehicle valuation tools, emergency roadside assistance, and special vehicle-related discounts. HVT (Hagerty Valuation Tools) allows customers to access both current and historical pricing data for collector vehicles such as cars, trucks, SUVs, and motorcycles. Hagerty Events organizes a wide variety of gatherings, from intimate meetings to large-scale productions. DriveShare functions as a peer-to-peer platform for renting out classic and unique vehicles. MotorsportReg is an online system that streamlines membership, licensing, and event management for motorsports, automating aspects like event listings, registration processes, and payment collection. Hagerty Garage + Social furnishes clubhouses and secure storage facilities for vehicles. The company's primary operations are based in Traverse City, Michigan.
Sector: Insurance Agents, Brokers & Service
Industry: Insurance - Property & Casualty
Hagerty, Inc.
NYSE:HGTYFinancial Services · Insurance - Property & Casualty
PrePre-market+4.62%$18.80
Close$17.970.00%AH$17.97+4.62%Now$18.80
Close$17.97-2.12%AH$17.97+4.62%since
Mkt Cap$2.17B
Float36.87M
O/S120.62M
Inst Own74.4%
SI4.1%
Dilution
Financials Summary
Revenue$1.46B
Net Income$49.02M
Total Assets$2.07B
Free Cash Flow$194.45M
Debt & Equity
Debt 37%
Equity 49%
Preferred 14%
Total Debt$232.57M
Total Equity$307.93M
Preferred Stock$86.62M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HGTY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$2.07B
Liabilities$1.32B
Accounts Receivable$224.73M
Accounts Payable$0
Inventory$0
PP&E (Net)$56.91M
Goodwill$114.16M
Intangible Assets$88.92M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $1.46B | $1.19B | $1.01B | $829.49M | $576.54M | $499.55M |
| YoY Growth | 22.2% | 17.8% | 22.0% | 43.9% | 15.4% | - |
| Cost of Revenue | $285.39M | $298.59M | $220.66M | $373.55M | $263.06M | $91.03M |
| Gross Profit | $1.17B | $892.9M | $791.1M | $455.94M | $313.48M | $408.52M |
| Gross Margin | 80.4% | 74.9% | 78.2% | 55.0% | 54.4% | 81.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $616.31M | $494.49M | $458.71M | $429.39M | $343.94M | $0 |
| Other | $415.51M | $304.73M | $287.62M | $15.45M | $24.14M | $393.66M |
| Total Operating Expenses | $1.03B | $799.22M | $746.33M | $444.84M | $368.08M | $393.66M |
| Operating Income (EBIT) | $139.18M | $93.68M | $44.77M | $11.1M | -$54.6M | $14.86M |
| Operating Margin | 9.6% | 7.9% | 4.4% | 1.3% | -9.5% | 3.0% |
| Interest Expense | $8.7M | $0 | $4.08M | $0 | $0 | $0 |
| Interest Income | $39.21M | $0 | $26.9M | $0 | $0 | $0 |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $139.18M | $93.68M | $44.77M | $11.1M | -$54.6M | $14.86M |
| Income Tax Expense | -$10.04M | $15.38M | $16.59M | $7.02M | $6.75M | $4.82M |
| Net Income | $49.02M | $17.02M | $20.23M | $32.08M | -$46.36M | $10.17M |
| Net Income Margin | 3.4% | 1.4% | 2.0% | 3.9% | -8.0% | 2.0% |
| Supplementary Data | ||||||
| EPS | 0.44 | 0.10 | 0.19 | 0.39 | -0.56 | 0.68 |
| Diluted EPS | 0.37 | 0.10 | 0.09 | -0.07 | -0.56 | 0.68 |
| Weighted Average OS | 94.40M | 87.53M | 84.18M | 82.73M | 82.33M | 14.95M |
| EBITDA | $176.71M | $132.59M | $90.58M | $44.98M | -$32.46M | $26.66M |
| EBITDA Margin | 12.1% | 11.1% | 9.0% | 5.4% | -5.6% | 5.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $299M | $232.84M | $724.28M | $539.19M | $603.97M | $299.08M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $299M | $232.84M | $724.28M | $539.19M | $603.97M | $299.08M |
| Accounts Receivable | $224.73M | $174.18M | $216.64M | $160.85M | $132.89M | $107.17M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $523.73M | $407.02M | $940.92M | $700.04M | $736.87M | $406.25M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $56.91M | $62.69M | $71.28M | $107.65M | $28.36M | $25.82M |
| Goodwill | $114.16M | $114.12M | $114.21M | $115.04M | $11.49M | $4.75M |
| Intangible Assets | $88.92M | $90.11M | $91.92M | $104.02M | $76.17M | $46.62M |
| Long-Term Investments | $731.14M | $589.53M | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $43.01M | -$35.5M | -$30.48M | -$24.64M | -$18.49M | -$13.23M |
| Other Long-Term Assets | $514.15M | $445.87M | $369.88M | $285.76M | $188.98M | $127.28M |
| Total Long-Term Assets | $1.55B | $1.27B | $616.82M | $587.83M | $286.52M | $191.23M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.07B | $1.67B | $1.56B | $1.29B | $1.02B | $597.48M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $0 | $108.35M | $0 | $0 | $0 | $0 |
| Short-Term Debt | $8.98M | $6.71M | $6.5M | $7.56M | $9.07M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $390.11M | $357.54M | $317.27M | $235.46M | $175.2M | $124.71M |
| Other Current Liabilities | -$399.09M | -$648.38M | -$323.77M | -$243.02M | -$184.27M | -$124.71M |
| Total Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $177.91M | $148.15M | $181.14M | $189.05M | $126.43M | $69M |
| Long-Term Unearned Revenue | $86.28M | $47.24M | $47.65M | $44.43M | $41.39M | $39.21M |
| Long-Term Deferred Tax Liabilities | $23.49M | -$17.43M | -$14.54M | -$11.79M | -$7.98M | -$5.73M |
| Other Long-Term Liabilities | $991.64M | $861.52M | $799.68M | $618.05M | $601.81M | $377.68M |
| Total Long-Term Liabilities | $1.32B | $1.08B | $1.06B | $920.51M | $752.58M | $480.16M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.32B | $1.19B | $1.06B | $920.51M | $752.58M | $480.16M |
| Stockholders' Equity | ||||||
| Preferred Stock | $86.62M | $84.66M | $82.84M | $0 | $0 | $0 |
| Common Stock | $34K | $34K | $33K | $33K | $33K | $0 |
| Retained Earnings | -$402.96M | -$451.98M | -$469M | -$489.6M | -$482.28M | $56.83M |
| Comprehensive Income & Other | $1.23M | -$1.51M | -$88K | -$213K | -$1.73M | $60.37M |
| Other Stockholders' Equity | $710.86M | $686.93M | $644.5M | $548.82M | $158.46M | $60.37M |
| Total Equity | $307.93M | $234.99M | $175.54M | $59.25M | -$323.78M | $117.2M |
| Minority Interest | $439.09M | $373.18M | $317.81M | $308.12M | $594.58M | $123K |
| Total Liabilities and Equity | $1.63B | $1.42B | $1.24B | $979.76M | $428.8M | $597.35M |
| Supplementary Data | ||||||
| Total Debt | $232.57M | $198.04M | $238.1M | $277.38M | $126.43M | $69M |
| Net Debt | -$66.43M | -$34.81M | -$486.18M | -$261.81M | -$477.54M | -$230.08M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | ||||||
| Net Income | $49.02M | $78.3M | $28.18M | $2.4M | -$61.35M | $10.17M |
| Depreciation & Amortization | $37.52M | $38.91M | $45.81M | $33.89M | $22.14M | $11.8M |
| Deferred Income Tax | $0 | $2.93M | $2.92M | $2.97M | $3.04M | $0 |
| Stock-Based Compensation | $0 | $17.36M | $18.02M | $12.13M | $0 | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $0 | $26.5M | $0 | -$52.04M | -$39.12M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $21.26M | $8.88M | $0 |
| Other Working Capital | $42.92M | -$3.76M | $45.48M | $89.25M | $63.57M | $57.85M |
| Total Working Capital Change | $42.92M | $22.74M | $45.48M | $58.47M | $33.33M | $57.85M |
| Other Non-Cash Items | $89.52M | $16.79M | $4.55M | -$54.54M | $45.12M | $4.76M |
| Net Cash from Operating | $218.99M | $177.02M | $144.95M | $55.33M | $42.28M | $84.57M |
| Investing Activities | ||||||
| Capital Expenditures | -$24.54M | -$21.34M | -$26.4M | -$44.38M | -$43.37M | -$38.26M |
| Acquisitions | -$1.62M | -$25.12M | -$8.68M | -$30.65M | -$14.61M | -$8.63M |
| Purchases of Investments | -$354.94M | -$680.31M | -$10.57M | -$4.23M | -$12.25M | $0 |
| Sales of Investments | $229.9M | $113.22M | $7.47M | $1.22M | $1.18M | $0 |
| Other Investing Activities | -$34M | -$5M | -$13.68M | -$13.47M | $48K | -$255K |
| Net Cash from Investing | -$185.2M | -$618.56M | -$51.87M | -$91.52M | -$68.99M | -$47.14M |
| Financing Activities | ||||||
| Debt Repaid | -$69.31M | $28.8M | -$21.7M | $28.13M | -$65.54M | -$43.9M |
| Common Stock Issuance | $0 | $0 | $80.69M | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | -$5.6M | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | -$4.06M | -$4M |
| Other Financing Activities | -$103.09M | -$6.92M | $0 | $49K | $270.59M | -$202K |
| Net Cash from Financing | $29.93M | -$46.92M | $91.14M | -$28.08M | $332.07M | $39.7M |
| Forex Effect | $2.44M | -$2.97M | $865K | -$504K | -$464K | $221.95M |
| Net Change in Cash | $66.16M | -$491.43M | $185.09M | -$64.78M | $304.89M | $299.08M |
| Supplementary Data | ||||||
| Operating Cash Flow | $218.99M | $177.02M | $144.95M | $55.33M | $42.28M | $84.57M |
| Capital Expenditure | -$24.54M | -$21.34M | -$26.4M | -$44.38M | -$43.37M | -$38.26M |
| Free Cash Flow | $194.45M | $155.68M | $118.55M | $10.95M | -$1.09M | $46.31M |
| Cash at Beginning | $232.84M | $724.28M | $539.19M | $603.97M | $299.08M | $0 |
| Cash at End | $299M | $232.84M | $724.28M | $539.19M | $603.97M | $299.08M |