Horace Mann Educators Corporation (HMN) Income Statement
HMN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHMN revenue and net income
Where HMN's revenue goes
2025Each bar shows an amount and its share of revenue. HMN kept 10.0% of revenue as net income.
HMN profit margins
HMN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.8% | +6.6% | +4.7% | +4.2% |
| Gross profit | +19.6% | +19.8% | +6.6% | −6.2% |
| Operating income | +56.5% | +130.2% | +4.7% | +3.5% |
| Net income | +57.7% | +101.5% | +4.0% | +5.7% |
| EPS (diluted) | +47.8% | +62.8% | +6.7% | +8.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HMN quarterly EPS vs estimates
Horace Mann Educators beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.99).
HMN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.62B | $1.55B | $1.43B | $1.34B | $1.25B | $1.29B | $1.40B | $1.19B | $1.17B | $1.13B |
| Cost of revenue | $1.05B | $1.07B | $1.08B | $1.01B | $841.3M | $873.4M | $907.1M | $1,000 | −$50,000 | −$10,000 |
| Gross profit | $572.0M | $478.4M | $356.8M | $332.5M | $409.0M | $416.1M | $497.7M | $1.19B | $1.17B | $1.13B |
| Research & development | — | — | — | — | — | — | — | — | — | $0 |
| Sales, general & admin | — | — | — | — | — | — | $234.6M | $205.4M | $187.8M | $173.1M |
| Total operating expenses | $370.8M | $349.8M | $303.5M | $316.0M | $198.9M | $256.5M | $261.3M | $1.16B | $1.07B | $1.00B |
| Operating income | $201.2M | $128.6M | $53.3M | $16.5M | $210.1M | $159.6M | $236.4M | $32.5M | $100.6M | $126.0M |
| Interest income | $38.5M | $27.2M | $21.8M | $19.4M | $13.9M | $15.2M | $15.6M | $13.0M | $11.9M | $11.8M |
| Interest expense | $36.4M | $34.6M | $29.7M | $19.4M | $13.9M | $15.2M | $15.6M | $13.0M | $11.9M | $11.8M |
| Income before taxes | $201.2M | $128.6M | $53.3M | $16.5M | $210.1M | $159.6M | $236.4M | $19.5M | $88.7M | $114.2M |
| Income taxes | $39.1M | $25.8M | $8.3M | −$3.3M | $39.7M | $26.3M | $52.0M | $1.2M | −$80.7M | $30.4M |
| Net income | $162.1M | $102.8M | $45.0M | $19.8M | $170.4M | $133.3M | $184.4M | $18.3M | $169.4M | $83.8M |
| EBITDA | $264.7M | $189.6M | $109.2M | $63.5M | $242.4M | $198.2M | $267.6M | $32.5M | $100.6M | $126.0M |
| EPS (diluted) | $4.70 | $3.18 | $1.61 | $1.09 | $3.59 | $3.40 | $2.19 | $0.68 | $1.73 | $1.97 |
| Gross margin | 35.2% | 30.9% | 24.9% | 24.8% | 32.7% | 32.3% | 35.4% | 100.0% | 100.0% | 100.0% |
| Operating margin | 12.4% | 8.3% | 3.7% | 1.2% | 16.8% | 12.4% | 16.8% | 2.7% | 8.6% | 11.2% |
| Net margin | 10.0% | 6.6% | 3.1% | 1.5% | 13.6% | 10.3% | 13.1% | 1.5% | 14.5% | 7.4% |
| 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 | $443.5M | $429.3M | $419.2M | $417.1M | $391.6M | $400.1M | $393.1M | $397.6M | $379.0M | $379.8M | $384.4M | $358.2M |
| Cost of revenue | $186.3M | $176.4M | $263.0M | $258.2M | $266.1M | $265.6M | $253.5M | $274.2M | $288.1M | $256.2M | $260.9M | $278.2M |
| Gross profit | $257.2M | $252.9M | $156.2M | $158.9M | $125.5M | $134.5M | $139.6M | $123.4M | $90.9M | $123.6M | $123.5M | $80.0M |
| Total operating expenses | $208.2M | $202.7M | $110.5M | $87.4M | $89.0M | $87.0M | $91.3M | $80.7M | $86.3M | $90.6M | $76.3M | $66.4M |
| Operating income | $49.0M | $50.2M | $45.7M | $71.5M | $36.5M | $47.5M | $48.3M | $42.7M | $4.6M | $33.0M | $47.2M | $13.6M |
| Interest income | — | — | $12.4M | $6.7M | $9.3M | $10.1M | $6.8M | $3.5M | — | — | — | $7.5M |
| Interest expense | $9.6M | $9.5M | $10.0M | $8.9M | $8.6M | $8.9M | $8.5M | $8.7M | $8.7M | $8.7M | $8.6M | $7.5M |
| Income before taxes | $49.0M | $50.2M | $45.7M | $71.5M | $36.5M | $47.5M | $48.3M | $42.7M | $4.6M | $33.0M | $47.2M | $13.6M |
| Income taxes | $7.4M | $9.0M | $9.5M | $13.2M | $7.1M | $9.3M | $10.1M | $8.4M | $800,000 | $6.5M | $7.7M | $1.9M |
| Net income | $41.6M | $41.2M | $36.2M | $58.3M | $29.4M | $38.2M | $38.2M | $34.3M | $3.8M | $26.5M | $39.5M | $11.7M |
| EBITDA | $65.3M | $66.4M | $62.4M | $87.2M | $51.7M | $63.4M | $63.8M | $57.8M | $19.7M | $48.3M | $62.5M | $27.7M |
| EPS (diluted) | $1.17 | $1.28 | $1.21 | $1.36 | $1.06 | $1.07 | $1.62 | $0.76 | $0.20 | $0.60 | $0.91 | $0.44 |
| Gross margin | 58.0% | 58.9% | 37.3% | 38.1% | 32.0% | 33.6% | 35.5% | 31.0% | 24.0% | 32.5% | 32.1% | 22.3% |
| Operating margin | 11.0% | 11.7% | 10.9% | 17.1% | 9.3% | 11.9% | 12.3% | 10.7% | 1.2% | 8.7% | 12.3% | 3.8% |
| Net margin | 9.4% | 9.6% | 8.6% | 14.0% | 7.5% | 9.5% | 9.7% | 8.6% | 1.0% | 7.0% | 10.3% | 3.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HMN's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HMN financial results
In fiscal year 2025 (ended December 31, 2025), Horace Mann Educators reported revenue of $1.6 billion, up 4.8% from the year before. It had net income of $162.1 million (up 57.7%), a net profit margin of 10.0%. Diluted earnings per share came to $4.70. Over five years revenue grew at an average rate of 4.7% a year.
See the HMN stock overview for the latest quote and news, or the HMN chart for price history and technical indicators.
HMN income statement FAQ
What is Horace Mann Educators's annual revenue?
Horace Mann Educators reported total revenue of $1.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.8% from $1.6 billion the previous year.
Is Horace Mann Educators profitable?
Yes. Horace Mann Educators reported net income of $162.1 million in fiscal 2025, a net profit margin of 10.0%; its operating margin was 12.4%.
What is Horace Mann Educators's gross margin?
Horace Mann Educators's gross margin was 35.2% in fiscal 2025: for every $100 of revenue, Horace Mann Educators kept $35 after the direct cost of its products and services.
How fast is Horace Mann Educators growing?
Revenue grew 4.7% a year on average over the last five fiscal years, from $1.3 billion to $1.6 billion.
What are Horace Mann Educators's earnings per share?
Horace Mann Educators earned $4.70 per diluted share in fiscal 2025, compared with $3.18 a year earlier.
When will Horace Mann Educators report its next earnings?
Horace Mann Educators is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Horace Mann Educators's fiscal year end?
Horace Mann Educators's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.