Heritage Insurance Holdings, Inc. (HRTG) Income Statement
HRTG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHRTG revenue and net income
Where HRTG's revenue goes
2025Each bar shows an amount and its share of revenue. HRTG kept 23.1% of revenue as net income.
HRTG profit margins
HRTG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.7% | +8.6% | +7.4% | +7.9% |
| Gross profit | +198.8% | +374.7% | +42.2% | +10.5% |
| Operating income | +213.6% | — | +159.3% | +5.6% |
| Net income | +217.8% | — | +83.8% | +7.8% |
| EPS (diluted) | +214.4% | — | — | +7.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HRTG quarterly EPS vs estimates
Heritage Insurance beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $1.07).
HRTG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $847.3M | $817.0M | $735.5M | $662.5M | $631.6M | $593.4M | $511.3M | $480.2M | $406.6M | $439.0M |
| Cost of revenue | $313.2M | $638.2M | $593.7M | $657.5M | $573.3M | $501.7M | $381.2M | $322.1M | $285.4M | $323.3M |
| Gross profit | $534.1M | $178.7M | $141.8M | $5.0M | $58.2M | $91.7M | $130.1M | $158.1M | $121.2M | $115.7M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $93.0M | $85.1M | $81.0M | $70.4M | $65.8M | $81.5M | $80.5M | $88.5M | $71.7M | $58.9M |
| Total operating expenses | $274.8M | $96.1M | $89.8M | $171.2M | $134.3M | $89.5M | $89.1M | $119.1M | $127.1M | $59.3M |
| Operating income | $259.3M | $82.7M | $52.0M | −$166.2M | −$76.0M | $2.2M | $41.0M | $39.0M | −$5.9M | $56.4M |
| Interest income | — | — | — | — | — | — | $8.5M | $20.0M | $13.2M | $362,000 |
| Interest expense | $7.9M | $10.9M | $11.2M | $8.8M | $8.0M | $8.0M | $8.5M | $20.0M | $13.2M | $362,000 |
| Income before taxes | $259.3M | $82.7M | $52.0M | −$166.2M | −$76.0M | $2.2M | $41.0M | $39.0M | −$5.9M | $56.4M |
| Income taxes | $63.7M | $21.1M | $6.7M | −$11.8M | −$1.3M | −$7.1M | $12.4M | $11.8M | −$4.8M | $22.5M |
| Net income | $195.6M | $61.5M | $45.3M | −$154.4M | −$74.7M | $9.3M | $28.6M | $27.2M | −$1.1M | $33.9M |
| EBITDA | $279.9M | $103.2M | $71.9M | −$149.0M | −$59.6M | $18.3M | $60.0M | $86.1M | $15.1M | $65.7M |
| EPS (diluted) | $6.32 | $2.01 | $1.73 | −$2.39 | −$0.49 | −$0.25 | $0.93 | $1.84 | $1.61 | $1.14 |
| Gross margin | 63.0% | 21.9% | 19.3% | 0.8% | 9.2% | 15.5% | 25.4% | 32.9% | 29.8% | 26.4% |
| Operating margin | 30.6% | 10.1% | 7.1% | −25.1% | −12.0% | 0.4% | 8.0% | 8.1% | −1.4% | 12.8% |
| Net margin | 23.1% | 7.5% | 6.2% | −23.3% | −11.8% | 1.6% | 5.6% | 5.7% | −0.3% | 7.7% |
| 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 | $214.2M | $212.7M | $142.4M | $212.5M | $208.0M | $211.5M | $210.3M | $211.8M | $203.6M | $203.6M | $187.0M | $186.3M |
| Cost of revenue | $61.1M | $91.6M | $48.5M | $119.9M | $118.8M | $145.2M | $157.6M | $178.5M | $153.2M | $158.3M | $134.0M | $173.8M |
| Gross profit | $153.1M | $121.1M | $93.9M | $92.5M | $89.3M | $66.3M | $52.7M | $33.3M | $50.4M | $45.3M | $52.9M | $12.5M |
| Sales, general & admin | $69.3M | $24.9M | $4.3M | $22.3M | $24.4M | $23.9M | $21.2M | $21.6M | $22.8M | $22.6M | $16.8M | $21.9M |
| Total operating expenses | $71.0M | $72.0M | $6.0M | $24.2M | $26.3M | $16.9M | $23.7M | $24.3M | $25.6M | $25.5M | $19.8M | $24.5M |
| Operating income | $82.2M | $49.0M | $87.9M | $68.3M | $63.0M | $49.4M | $28.9M | $9.0M | $24.9M | $19.9M | $33.2M | −$12.0M |
| Interest expense | $1.7M | $1.8M | $1.7M | $1.9M | $1.9M | $2.4M | $2.6M | $2.8M | $2.8M | $2.8M | $3.0M | $2.6M |
| Income before taxes | $82.2M | $49.0M | $87.9M | $68.3M | $63.0M | $40.0M | $28.9M | $9.0M | $24.9M | $19.9M | $33.2M | −$12.0M |
| Income taxes | $20.4M | $12.6M | $21.3M | $17.9M | $15.0M | $9.5M | $8.7M | $842,000 | $6.0M | $5.6M | $2.2M | −$4.6M |
| Net income | $61.7M | $36.5M | $66.7M | $50.4M | $48.0M | $30.5M | $20.3M | $8.2M | $18.9M | $14.2M | $30.9M | −$7.4M |
| EBITDA | $86.8M | $54.0M | $93.2M | $73.5M | $67.8M | $45.3M | $34.3M | $14.0M | $29.9M | $24.9M | $38.4M | −$7.2M |
| EPS (diluted) | $2.05 | $1.19 | $2.15 | $1.63 | $1.55 | $0.99 | $0.66 | $0.27 | $0.61 | $0.47 | $1.15 | −$0.27 |
| Gross margin | 71.5% | 56.9% | 66.0% | 43.5% | 42.9% | 31.3% | 25.0% | 15.7% | 24.8% | 22.3% | 28.3% | 6.7% |
| Operating margin | 38.4% | 23.1% | 61.8% | 32.2% | 30.3% | 23.3% | 13.8% | 4.2% | 12.2% | 9.8% | 17.7% | −6.5% |
| Net margin | 28.8% | 17.2% | 46.8% | 23.7% | 23.1% | 14.4% | 9.7% | 3.8% | 9.3% | 7.0% | 16.6% | −4.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HRTG's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HRTG financial results
In fiscal year 2025 (ended December 31, 2025), Heritage Insurance reported revenue of $847.3 million, up 3.7% from the year before. It had net income of $195.6 million (up 217.8%), a net profit margin of 23.1%. Diluted earnings per share came to $6.32. Over five years revenue grew at an average rate of 7.4% a year.
See the HRTG stock overview for the latest quote and news, or the HRTG chart for price history and technical indicators.
HRTG income statement FAQ
What is Heritage Insurance's annual revenue?
Heritage Insurance reported total revenue of $847.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 3.7% from $817.0 million the previous year.
Is Heritage Insurance profitable?
Yes. Heritage Insurance reported net income of $195.6 million in fiscal 2025, a net profit margin of 23.1%; its operating margin was 30.6%.
What is Heritage Insurance's gross margin?
Heritage Insurance's gross margin was 63.0% in fiscal 2025: for every $100 of revenue, Heritage Insurance kept $63 after the direct cost of its products and services.
How fast is Heritage Insurance growing?
Revenue grew 7.4% a year on average over the last five fiscal years, from $593.4 million to $847.3 million.
What are Heritage Insurance's earnings per share?
Heritage Insurance earned $6.32 per diluted share in fiscal 2025, compared with $2.01 a year earlier.
When will Heritage Insurance report its next earnings?
Heritage Insurance is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Heritage Insurance's fiscal year end?
Heritage Insurance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.