Hamilton Insurance Group, Ltd. (HG) Income Statement
HG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHG revenue and net income
Where HG's revenue goes
2025Each bar shows an amount and its share of revenue. HG kept 21.0% of revenue as net income.
HG profit margins
HG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.3% | +28.7% | +30.0% | — |
| Gross profit | +59.5% | +93.9% | +147.0% | — |
| Operating income | +32.7% | — | — | — |
| Net income | +44.0% | — | — | — |
| EPS (diluted) | +42.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HG quarterly EPS vs estimates
Hamilton Insurance beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.67).
HG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $2.74B | $2.38B | $1.62B | $1.29B | $1.34B | $739.8M |
| Cost of revenue | $1.26B | $1.45B | $1.07B | $1.08B | $919.7M | $723.7M |
| Gross profit | $1.48B | $930.8M | $547.3M | $203.5M | $416.5M | $16.1M |
| Sales, general & admin | $278.9M | $61.1M | $76.7M | $20.1M | $22.5M | $22.9M |
| Total operating expenses | $659.3M | $309.3M | $292.1M | $230.3M | $154.3M | $190.2M |
| Operating income | $824.9M | $621.6M | $255.2M | −$26.8M | $262.2M | −$174.0M |
| Interest income | $26.2M | $113.6M | $78.5M | $34.2M | $15.1M | $21.6M |
| Interest expense | $20.2M | $22.6M | $21.4M | $15.7M | $14.9M | $18.9M |
| Income before taxes | $824.9M | $621.6M | $255.2M | −$26.8M | $262.2M | −$174.0M |
| Income taxes | −$15.1M | $8.4M | −$25.1M | $3.1M | $12.4M | $11.5M |
| Net income | $576.7M | $400.4M | $258.7M | −$98.0M | $188.2M | −$210.4M |
| EBITDA | $861.0M | $660.6M | $289.1M | $3.9M | $291.0M | −$141.1M |
| EPS (diluted) | $5.17 | $3.64 | $1.56 | −$0.89 | $1.81 | −$2.04 |
| Gross margin | 54.1% | 39.1% | 33.8% | 15.8% | 31.2% | 2.2% |
| Operating margin | 30.1% | 26.1% | 15.8% | −2.1% | 19.6% | −23.5% |
| Net margin | 21.0% | 16.8% | 16.0% | −7.6% | 14.1% | −28.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $846.9M | $754.4M | $708.1M | $681.5M | $754.5M | $781.7M | $583.0M | $65.6M | $600.4M | $670.6M | $506.2M | $407.2M |
| Cost of revenue | $361.5M | $324.8M | $314.6M | $418.0M | $406.5M | $525.1M | $408.0M | $5.2M | $323.3M | $328.9M | $294.9M | $281.1M |
| Gross profit | $485.4M | $429.6M | $393.4M | $263.5M | $348.0M | $256.7M | $174.9M | $60.4M | $277.1M | $341.7M | $211.3M | $126.2M |
| Sales, general & admin | $66.9M | $61.5M | $237.7M | $15.3M | $12.9M | $13.0M | $19.3M | $62.4M | $16.3M | $11.5M | $44.9M | $18.7M |
| Total operating expenses | $228.1M | $210.2M | $203.8M | $83.2M | $77.6M | $72.2M | $98.2M | $62.4M | $74.3M | $63.8M | $109.9M | $71.1M |
| Operating income | $257.3M | $219.4M | $189.7M | $180.3M | $270.5M | $184.5M | $76.7M | −$2.0M | $202.9M | $277.9M | $101.4M | $55.0M |
| Interest income | $40.5M | $40.8M | $6.5M | $36.9M | $35.1M | $32.2M | $32.4M | $29.9M | $26.5M | $24.8M | $24.2M | $19.3M |
| Interest expense | $4.8M | $4.8M | $4.9M | $4.9M | $4.7M | $5.6M | $5.5M | $5.4M | $6.0M | $5.7M | $5.4M | $5.3M |
| Income before taxes | $257.3M | $219.4M | $189.7M | $180.3M | $270.5M | $184.5M | $76.7M | $64.1M | $202.9M | $277.9M | $101.4M | $55.0M |
| Income taxes | $2.5M | $2.3M | −$24.9M | $3.9M | $2.7M | $3.2M | $2.3M | $3.0M | $2.5M | $592,000 | −$32.0M | $2.4M |
| Net income | $143.8M | $133.5M | $172.2M | $136.2M | $187.4M | $80.9M | $33.9M | $78.2M | $131.1M | $157.2M | $126.9M | $43.6M |
| EBITDA | $266.1M | $228.5M | $197.5M | $189.6M | $279.5M | $194.4M | $85.6M | $75.0M | $212.7M | $287.3M | $110.2M | $63.5M |
| EPS (diluted) | $1.56 | $1.64 | $1.65 | $1.20 | $1.55 | $0.77 | $0.32 | $0.74 | $1.20 | $1.38 | $1.15 | $0.41 |
| Gross margin | 57.3% | 56.9% | 55.6% | 38.7% | 46.1% | 32.8% | 30.0% | 92.1% | 46.2% | 51.0% | 41.7% | 31.0% |
| Operating margin | 30.4% | 29.1% | 26.8% | 26.5% | 35.8% | 23.6% | 13.2% | −3.1% | 33.8% | 41.4% | 20.0% | 13.5% |
| Net margin | 17.0% | 17.7% | 24.3% | 20.0% | 24.8% | 10.3% | 5.8% | 119.4% | 21.8% | 23.4% | 25.1% | 10.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HG's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HG financial results
In fiscal year 2025 (ended December 31, 2025), Hamilton Insurance reported revenue of $2.7 billion, up 15.3% from the year before. It had net income of $576.7 million (up 44.0%), a net profit margin of 21.0%. Diluted earnings per share came to $5.17. Over five years revenue grew at an average rate of 30.0% a year.
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HG income statement FAQ
What is Hamilton Insurance's annual revenue?
Hamilton Insurance reported total revenue of $2.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 15.3% from $2.4 billion the previous year.
Is Hamilton Insurance profitable?
Yes. Hamilton Insurance reported net income of $576.7 million in fiscal 2025, a net profit margin of 21.0%; its operating margin was 30.1%.
What is Hamilton Insurance's gross margin?
Hamilton Insurance's gross margin was 54.1% in fiscal 2025: for every $100 of revenue, Hamilton Insurance kept $54 after the direct cost of its products and services.
How fast is Hamilton Insurance growing?
Revenue grew 30.0% a year on average over the last five fiscal years, from $739.8 million to $2.7 billion.
What are Hamilton Insurance's earnings per share?
Hamilton Insurance earned $5.17 per diluted share in fiscal 2025, compared with $3.64 a year earlier.
When will Hamilton Insurance report its next earnings?
Hamilton Insurance is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Hamilton Insurance's fiscal year end?
Hamilton Insurance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.