Accelerant Holdings (ARX) Key Metrics
ARX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.29B
- Enterprise value
- $2.75B
- P/E (TTM)
- —
- Forward P/E
- 22.2
- PEG ratio
- —
- Price / sales
- 4.0
- Price / book
- 6.0
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- —
ARX key metrics, 2021–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARX returns How much profit the business earns on the capital it uses.
ARX per-share figures Results divided by the shares outstanding at year-end.
ARX financial health Debt, liquidity and how easily interest is covered.
ARX efficiency & capital use Working capital cycle and where the cash goes.
ARX valuation history
ARX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARX cash returned to shareholders
ARX price vs earnings per share
ARX key metrics
2021–2025| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Valuation | |||||
| Market capitalization | $3.11B | — | — | — | — |
| Enterprise value | $720.8M | — | — | — | — |
| Price / sales | 3.5 | — | — | — | — |
| Price / book | 4.5 | — | — | — | — |
| Price / free cash flow | 7.7 | — | — | — | — |
| Price / operating cash flow | 7.0 | — | — | — | — |
| EV / sales | 0.8 | — | — | — | — |
| EV / free cash flow | 1.8 | — | — | — | — |
| Earnings yield | −43.5% | — | — | — | — |
| Free cash flow yield | 13.0% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 5.6% | — | — | — | — |
| Share price at fiscal year-end | $16.35 | — | — | — | — |
| Per share | |||||
| Revenue per share | $4.62 | $2.76 | $1.52 | $1.29 | $0.48 |
| Earnings per share | −$7.12 | $0.13 | −$0.23 | −$0.55 | −$0.10 |
| Operating cash flow per share | $2.34 | $3.63 | $1.34 | $0.40 | $0.52 |
| Free cash flow per share | $2.12 | $3.47 | $1.19 | $0.24 | $0.45 |
| Cash per share | $13.20 | $5.96 | $3.62 | $3.07 | $1.57 |
| Book value per share | $3.67 | $1.89 | $1.43 | $2.14 | $1.19 |
| Tangible book value per share | $2.13 | $1.21 | $0.88 | $1.42 | $0.85 |
| Capex per share | $0.22 | $0.16 | $0.15 | $0.16 | $0.07 |
| Debt per share | $0.64 | $0.56 | $0.56 | $0.61 | $0.23 |
| Shares outstanding | 190.3M | 216.7M | 216.7M | 165.6M | 216.7M |
| Change in shares outstanding | −12.2% | 0.0% | +30.8% | −23.6% | — |
| Returns & profitability | |||||
| Return on equity (ROE) | −244.8% | 7.6% | −14.7% | −29.9% | −8.3% |
| Return on assets (ROA) | −18.9% | 0.6% | −1.6% | −5.5% | −1.9% |
| Return on tangible assets | −17.0% | 0.5% | −1.3% | −4.4% | −2.0% |
| Free cash flow margin | 45.9% | 125.7% | 78.0% | 18.3% | 95.0% |
| Income quality (OCF / net income) | — | 28.88 | — | — | — |
| Financial health | |||||
| Total debt | $121.3M | $121.4M | $120.3M | $100.5M | $49.9M |
| Cash & short-term investments | $2.51B | $1.29B | $783.4M | $509.0M | $340.1M |
| Net debt | −$2.39B | −$1.17B | −$663.1M | −$408.5M | −$290.2M |
| Debt / equity | 0.17 | 0.30 | 0.39 | 0.28 | 0.19 |
| Debt / assets | 0.01 | 0.02 | 0.03 | 0.05 | 0.04 |
| Net debt / EBITDA | — | −12.85 | — | — | — |
| Current ratio | 1.08 | 9.69 | 32.48 | 1.00 | 1.11 |
| Quick ratio | 1.08 | 9.69 | 32.48 | 1.00 | 1.11 |
| Interest coverage | -19.2 | 1.0 | -2.9 | -20.1 | -6.9 |
| Working capital | $542.5M | $4.71B | $3.18B | −$2.1M | $92.7M |
| Invested capital | −$1.69B | −$760.4M | −$352.6M | −$54.0M | −$32.3M |
| Tangible asset value | $433.9M | $279.4M | $166.1M | $230.3M | $181.8M |
| Net current asset value | $207.3M | −$416.2M | −$166.4M | −$42.5M | $10.1M |
| Graham number | — | $2.31 | — | — | — |
| Graham net-net per share | −$13.01 | −$7.29 | −$4.46 | −$5.11 | −$1.56 |
| Capital allocation | |||||
| Share buybacks (net) | $175.3M | $0 | $0 | $0 | — |
| Dividends + buybacks / free cash flow | 43.4% | 0.0% | 0.0% | 0.0% | — |
| Capex / revenue | 4.7% | 5.8% | 9.9% | 12.5% | 14.2% |
| Capex / operating cash flow | 9.3% | 4.4% | 11.2% | 40.6% | 13.0% |
| Capex / depreciation | 1.18 | 1.29 | 2.25 | 4.60 | 9.19 |
| Stock-based compensation / revenue | 4.9% | 1.4% | 1.5% | 0.0% | — |
| SG&A / revenue | 205.5% | 43.9% | 60.3% | 56.9% | 63.5% |
| Efficiency | |||||
| Days sales outstanding | 1,479.3 | 1,830.9 | 1,619.7 | 817.4 | 1,044.1 |
| Days payables outstanding | 982.7 | 17.1 | 402.1 | 637.2 | 1,767.1 |
| Cash conversion cycle (days) | 496.6 | 1,813.8 | 1,217.5 | 180.2 | -723.0 |
| Receivables turnover | 0.25 | 0.20 | 0.23 | 0.45 | 0.35 |
| Payables turnover | 0.37 | 21.35 | 0.91 | 0.57 | 0.21 |
| Asset turnover | 0.12 | 0.12 | 0.11 | 0.13 | 0.09 |
| Average receivables | $3.56B | $3.00B | $1.46B | $477.2M | $295.2M |
| Average payables | $765.5M | $11.7M | $143.4M | $234.8M | $192.2M |
| Intangibles / total assets | 3.5% | 2.4% | 3.2% | 5.4% | 6.4% |
Computed from ARX's annual financial statements (latest annual report filed March 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARX valuation and financial ratios
Accelerant earned a return on equity of −244.8% in fiscal 2025. It ended the year with $121.3 million of debt and $2.5 billion in cash and short-term investments, a net cash position of $2.4 billion. It returned $175.3 million to shareholders: $0 in dividends and $175.3 million in share buybacks, 43% of free cash flow. The share count fell 12.2% from 216.7M to 190.3M over 4 years.
See the ARX income statement, the ARX chart for price history, or the ARX stock overview for the latest quote and news.
ARX key metrics FAQ
What is Accelerant's return on equity?
Accelerant's return on equity (ROE) was −244.8% in fiscal 2025: net income of -$1.4 billion on average shareholders' equity of $553.2 million.
How much debt does Accelerant have?
Accelerant had total debt of $121.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and more cash than debt.
Does Accelerant buy back its shares?
Yes. Accelerant spent $175.3 million on net share repurchases in fiscal 2025 Shares outstanding changed −12.2% over the year, to 190.3M..
What is Accelerant's free cash flow yield?
Accelerant generated $403.7 million of free cash flow in fiscal 2025, a free cash flow yield of 13.0% on its market value at year-end ($3.1 billion).
What is Accelerant's current ratio?
Accelerant's current ratio was 1.08 at the end of fiscal 2025: current assets were 1.08 times current liabilities.