Accelerant Holdings (ARX) AI Stock Analysis

Accelerant Holdings, together with its subsidiaries, operates a data-driven risk exchange that connects selected specialty insurance underwriters with risk capital partners. It operates through Exchange Services, MGA Operations, and Underwriting segments. The Exchange Services segment provides an operating platform that incorporates technology, data ingestion, and agency operations, receiving fixed-percentage, volume-based fees from risk capital partners. The MGA Operations segment comprises fees earned by members for originating and underwriting portfolios of insurance policies. The Underwriting segment participates in underwriting insurance policies and assuming reinsurance arrangements across property and casualty lines. The company serves small-to-medium sized commercial clients primarily in the United States, Europe, Canada, Australia, and the United Kingdom.

Revenue expanded from $103.2M in FY2021 to $213.1M in FY2022, $329.7M in FY2023, $597.7M in FY2024, and $879.5M in FY2025, representing a 4-year revenue CAGR of 70.9%. Gross margin stood at 67.7% in FY2025, up from 58.4% in FY2024. Profitability shifted from net income of $27.2M and an operating margin of 5.4% in FY2024 to net income of -$1.35B and an operating margin of -150.3% in FY2025. Over the trailing twelve months, revenue totaled $1.07B with an operating margin of 15.6% and a net profit margin of -127.5%. In the latest quarter ended June 30, 2026, revenue increased 57.2% year-over-year, and earnings grew 800.0%.

As of June 30, 2026, Accelerant Holdings had $1.74B in cash and short-term investments against total debt of $120.1M, resulting in net cash of $1.62B. Total assets stood at $8.94B, and shareholders' equity was $717.4M. The company has a current ratio of 7.79 and a debt-to-equity ratio of 0.17. In FY2025, operating cash flow was $445.1M and free cash flow was $403.7M. Capital allocation in FY2025 included $41.4M in capital expenditures and $175.3M in share buybacks.

Accelerant Holdings has a market cap of $4.29B and an enterprise value of $2.75B, trading at a forward P/E of 22.2x and a price-to-sales ratio of 4.0x. These multiples trade at a premium to the median of its US-listed Financial Services peers, which trade at a forward P/E of 10.8x and a price-to-sales ratio of 3.2x. The enterprise value to revenue multiple is 2.4x, and price-to-book is 6.0x. Over the past year, the stock returned 50.4%, compared to 16.8% for the S&P 500 (SPY). The shares trade 33.6% above their 200-day average.

Analyst ratings comprise 0 Strong Buy, 0 Buy, 5 Hold, 1 Sell, and 0 Strong Sell. The mean price target is $20.25, indicating 2.5% potential upside from the last close of $19.75. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $1.14B and EPS of $0.89. For the next fiscal year, 9 analysts project revenue of $1.25B and EPS of $0.94. The company has beaten EPS estimates in 4 of the last 4 quarters, and its next earnings date is November 11, 2026.

This page is an AI-written research summary of Accelerant Holdings (ARX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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