Safety Insurance Group, Inc. (SAFT) Key Metrics
SAFT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.53B
- Enterprise value
- $1.51B
- P/E (TTM)
- 22.3 10-yr median 16.1
- Forward P/E
- 17.1
- PEG ratio
- 0.95
- Price / sales
- 1.2 10-yr median 1.4
- Price / book
- 1.7 10-yr median 1.5
- EV / EBITDA
- — 10-yr median 2.3
- Dividend yield
- 3.54% $3.68 a year
- Beta
- 0.17
SAFT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSAFT valuation Price multiples at each fiscal year-end price.
SAFT returns How much profit the business earns on the capital it uses.
SAFT per-share figures Results divided by the shares outstanding at year-end.
SAFT financial health Debt, liquidity and how easily interest is covered.
SAFT efficiency & capital use Working capital cycle and where the cash goes.
SAFT valuation history
SAFT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SAFT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SAFT cash returned to shareholders
SAFT price vs earnings per share
SAFT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.15B | $1.21B | $1.12B | $1.24B | $1.27B | $1.18B | $1.42B | $1.25B | $1.22B | $1.11B |
| Enterprise value | $436.7M | $646.1M | $650.0M | $222.4M | $44.4M | −$72.1M | $180.8M | $46.5M | $3.1M | −$66.4M |
| P/E ratio | 11.6 | 17.1 | 59.2 | 26.6 | 9.7 | 8.5 | 14.2 | 15.0 | 19.5 | 17.2 |
| Price / sales | 0.9 | 1.1 | 1.2 | 1.6 | 1.5 | 1.4 | 1.6 | 1.5 | 1.4 | 1.3 |
| Price / book | 1.3 | 1.5 | 1.4 | 1.5 | 1.4 | 1.3 | 1.8 | 1.7 | 1.7 | 1.7 |
| Price / free cash flow | 6.0 | 9.8 | 22.2 | 29.3 | 9.5 | 11.8 | 13.8 | 10.7 | 16.0 | 11.8 |
| Price / operating cash flow | 5.9 | 9.4 | 21.4 | 28.0 | 9.0 | 10.8 | 12.6 | 9.8 | 14.8 | 11.2 |
| EV / sales | 0.3 | 0.6 | 0.7 | 0.3 | 0.1 | -0.1 | 0.2 | 0.1 | 0.0 | -0.1 |
| EV / EBITDA | 3.2 | 6.5 | 20.2 | 3.3 | 0.3 | — | 1.4 | 0.4 | 0.0 | — |
| EV / free cash flow | 2.3 | 5.2 | 12.9 | 5.3 | 0.3 | — | 1.8 | 0.4 | 0.0 | — |
| Earnings yield | 8.6% | 5.8% | 1.7% | 3.8% | 10.3% | 11.7% | 7.0% | 6.7% | 5.1% | 5.8% |
| Free cash flow yield | 16.7% | 10.3% | 4.5% | 3.4% | 10.5% | 8.4% | 7.2% | 9.4% | 6.3% | 8.5% |
| Dividend yield | 4.7% | 4.4% | 4.8% | 4.3% | 4.3% | 4.6% | 3.7% | 3.9% | 3.7% | 3.8% |
| Shareholder yield (dividends + buybacks) | 6.4% | 4.4% | 5.2% | 5.5% | 5.2% | 8.0% | 3.7% | 3.9% | 3.7% | 3.8% |
| Share price at fiscal year-end | $77.91 | $82.40 | $75.99 | $84.26 | $85.03 | $77.90 | $92.53 | $81.81 | $80.40 | $73.70 |
| Per share | ||||||||||
| Revenue per share | $85.05 | $75.40 | $62.95 | $53.37 | $57.93 | $55.59 | $57.10 | $54.82 | $55.74 | $55.04 |
| Earnings per share | $6.73 | $4.81 | $1.28 | $3.17 | $8.76 | $9.14 | $6.49 | $5.46 | $4.12 | $4.30 |
| Operating cash flow per share | $13.19 | $8.74 | $3.54 | $3.01 | $9.47 | $7.24 | $7.33 | $8.38 | $5.42 | $6.57 |
| Free cash flow per share | $13.02 | $8.45 | $3.42 | $2.87 | $8.92 | $6.58 | $6.71 | $7.65 | $5.03 | $6.25 |
| Cash per share | $52.49 | $41.61 | $35.19 | $73.11 | $85.88 | $86.70 | $82.96 | $78.76 | $80.19 | $78.12 |
| Book value per share | $60.52 | $56.29 | $54.67 | $55.20 | $62.12 | $58.51 | $52.71 | $47.19 | $46.32 | $44.62 |
| Tangible book value per share | $51.31 | $54.61 | $53.00 | $48.36 | −$38.05 | −$39.09 | −$40.78 | $47.76 | $46.51 | $44.82 |
| Dividends per share | $3.65 | $3.62 | $3.62 | $3.61 | $3.62 | $3.61 | $3.43 | $3.21 | $3.00 | $2.81 |
| Capex per share | $0.17 | $0.30 | $0.12 | $0.14 | $0.55 | $0.66 | $0.63 | $0.73 | $0.39 | $0.33 |
| Debt per share | $4.20 | $3.11 | $3.38 | $3.97 | $3.83 | $4.03 | $2.22 | — | $0.00 | $0.00 |
| Shares outstanding | 14.7M | 14.7M | 14.7M | 14.7M | 14.9M | 15.1M | 15.3M | 15.2M | 15.1M | 15.0M |
| Change in shares outstanding | +0.2% | +0.0% | −0.0% | −1.4% | −1.3% | −1.4% | +0.7% | +0.6% | +0.7% | +1.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.5% | 8.7% | 2.3% | 5.4% | 14.4% | 16.3% | 13.0% | 11.7% | 9.1% | 9.8% |
| Return on invested capital (ROIC) | 44.9% | 23.6% | 28.8% | — | — | — | — | — | — | — |
| Return on assets (ROA) | 4.2% | 3.3% | 1.0% | 2.3% | 6.3% | 6.8% | 5.1% | 4.5% | 3.5% | 3.7% |
| Return on tangible assets | 4.2% | 3.2% | 1.0% | 2.5% | 21.0% | 23.9% | 16.9% | 4.5% | 3.4% | 3.7% |
| Free cash flow margin | 15.3% | 11.2% | 5.4% | 5.4% | 15.4% | 11.8% | 11.7% | 14.0% | 9.0% | 11.4% |
| Income quality (OCF / net income) | 1.96 | 1.82 | 2.76 | 0.95 | 1.08 | 0.79 | 1.13 | 1.53 | 1.32 | 1.53 |
| Financial health | ||||||||||
| Total debt | $61.9M | $45.7M | $49.8M | $58.3M | $57.1M | $61.0M | $34.0M | — | $0 | $0 |
| Cash & short-term investments | $773.9M | $612.4M | $517.6M | $1.08B | $1.28B | $1.31B | $1.27B | $1.20B | $1.21B | $1.17B |
| Net debt | −$712.1M | −$566.6M | −$467.9M | −$1.02B | −$1.22B | −$1.25B | −$1.24B | −$1.20B | −$1.21B | −$1.17B |
| Debt / equity | 0.07 | 0.06 | 0.06 | 0.07 | 0.06 | 0.07 | 0.04 | — | 0.00 | 0.00 |
| Debt / assets | 0.03 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | — | 0.00 | 0.00 |
| Net debt / EBITDA | −5.27 | −5.68 | −14.54 | −15.25 | −7.13 | −6.84 | −9.58 | −10.92 | −13.22 | −12.01 |
| Current ratio | 0.84 | 7.82 | 0.74 | 1.28 | 1.42 | 12.68 | 19.85 | 2.82 | 3.65 | 2.69 |
| Quick ratio | 0.84 | 7.82 | 2.54 | 1.26 | 1.68 | 15.44 | 23.51 | 2.82 | 3.65 | 2.69 |
| Interest coverage | 82.8 | 176.6 | 29.9 | 113.7 | 314.7 | 397.2 | — | — | — | — |
| Working capital | −$257.8M | $318.7M | −$130.6M | $305.5M | $472.1M | $1.48B | $1.52B | $147.0M | $168.7M | $117.8M |
| Invested capital | $180.2M | $261.8M | $336.4M | −$205.1M | −$297.6M | −$365.2M | −$430.0M | −$480.8M | −$512.7M | −$503.6M |
| Tangible asset value | $756.6M | $803.6M | $779.6M | $711.5M | −$567.9M | −$591.1M | −$625.6M | $727.4M | $703.9M | $673.8M |
| Net current asset value | −$269.7M | −$1.08B | −$791.7M | $251.4M | $413.5M | $441.7M | $388.0M | −$910.0M | −$873.9M | −$899.8M |
| Graham number | $95.74 | $78.02 | $39.73 | $62.70 | $110.63 | $109.71 | $87.76 | $76.16 | $65.54 | $65.68 |
| Graham net-net per share | −$29.38 | −$32.69 | −$54.81 | $10.40 | $11.11 | $12.62 | $10.27 | $13.42 | $16.55 | $21.14 |
| Capital allocation | ||||||||||
| Dividends paid | $53.9M | $53.3M | $53.3M | $53.0M | $54.0M | $54.6M | $52.7M | $48.8M | $45.5M | $42.3M |
| Share buybacks (net) | $20.0M | $0 | $5.2M | $14.6M | $11.6M | $40.0M | — | — | $0 | $0 |
| Dividend payout ratio | 54.3% | 75.4% | 282.3% | 113.9% | 41.3% | 39.5% | 52.9% | 58.7% | 72.9% | 65.4% |
| Dividends + buybacks / free cash flow | 38.5% | 42.9% | 116.3% | 160.2% | 49.2% | 95.0% | 51.2% | 41.9% | 59.8% | 45.0% |
| Capex / revenue | 0.2% | 0.4% | 0.2% | 0.3% | 1.0% | 1.2% | 1.1% | 1.3% | 0.7% | 0.6% |
| Capex / operating cash flow | 1.3% | 3.4% | 3.4% | 4.7% | 5.8% | 9.1% | 8.5% | 8.8% | 7.3% | 5.0% |
| Capex / depreciation | 0.37 | 0.46 | 0.26 | 0.32 | 1.19 | 1.32 | 1.75 | 2.05 | 1.18 | 1.12 |
| Stock-based compensation / revenue | 0.4% | 0.4% | 0.5% | 0.8% | 0.7% | 0.9% | 0.7% | 0.8% | 0.6% | 0.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 139.7 | 139.4 | 136.2 | 140.9 | 126.3 | 136.9 | 108.3 | 83.2 | 107.9 | 107.3 |
| Days of inventory on hand | — | — | -251.9 | -105.5 | -257.0 | -292.2 | -212.0 | — | — | — |
| Days payables outstanding | 44.0 | 45.0 | 47.0 | 63.5 | 68.6 | 79.2 | 61.6 | 59.6 | 56.1 | 53.8 |
| Cash conversion cycle (days) | 95.7 | 94.4 | -162.7 | -28.1 | -199.2 | -234.5 | -165.2 | 23.6 | 51.8 | 53.5 |
| Receivables turnover | 2.61 | 2.62 | 2.68 | 2.59 | 2.89 | 2.67 | 3.37 | 4.39 | 3.38 | 3.40 |
| Payables turnover | 8.30 | 8.12 | 7.76 | 5.75 | 5.32 | 4.61 | 5.93 | 6.12 | 6.51 | 6.78 |
| Asset turnover | 0.53 | 0.52 | 0.47 | 0.38 | 0.41 | 0.41 | 0.45 | 0.46 | 0.47 | 0.48 |
| Average receivables | $479.9M | $423.7M | $345.6M | $303.0M | $299.2M | $315.2M | $260.0M | $190.4M | $249.3M | $243.3M |
| Average payables | $96.0M | $88.3M | $82.7M | $85.6M | $86.8M | $87.8M | $86.0M | $79.3M | $77.4M | $72.8M |
| Average inventory | — | — | −$443.3M | −$142.2M | −$325.1M | −$323.8M | −$296.1M | — | $0 | $0 |
| Intangibles / total assets | 5.5% | 1.1% | 1.3% | 5.1% | 70.6% | 71.8% | 70.9% | −0.5% | −0.2% | −0.2% |
Computed from SAFT's annual financial statements (latest annual report filed February 27, 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.
SAFT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Safety Insurance traded at 11.6 times earnings, against a 10-year median of 16.1. Based on the latest twelve months, the trailing P/E is 22.3 and the forward P/E is 17.1. Safety Insurance earned a return on equity of 11.5% and a return on invested capital of 44.9% in fiscal 2025. It ended the year with $61.9 million of debt and $773.9 million in cash and short-term investments, a net cash position of $712.1 million. It returned $73.9 million to shareholders: $53.9 million in dividends and $20.0 million in share buybacks, 38% of free cash flow.
See the SAFT income statement, the SAFT chart for price history, or the SAFT stock overview for the latest quote and news.
SAFT key metrics FAQ
What is Safety Insurance's P/E ratio?
Safety Insurance's trailing P/E ratio is 22.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 17.1. At the end of fiscal 2025 it was 11.6, compared with a 10-year median of 16.1.
What is Safety Insurance's EV/EBITDA?
Safety Insurance's enterprise value was 3.2 times EBITDA at the end of fiscal 2025 (enterprise value $436.7 million, EBITDA $135.0 million).
What is Safety Insurance's return on equity?
Safety Insurance's return on equity (ROE) was 11.5% in fiscal 2025: net income of $99.3 million on average shareholders' equity of $860.4 million.
What is Safety Insurance's ROIC?
Safety Insurance's return on invested capital was 44.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Safety Insurance have?
Safety Insurance had total debt of $61.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.07 and more cash than debt.
What is Safety Insurance's dividend yield?
Safety Insurance's forward dividend yield is 3.54%. Safety Insurance paid $53.9 million in dividends in fiscal 2025 ($3.65 per share), a payout ratio of 54.3%.
Does Safety Insurance buy back its shares?
Yes. Safety Insurance spent $20.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.2% over the year, to 14.7M..
What is Safety Insurance's free cash flow yield?
Safety Insurance generated $192.0 million of free cash flow in fiscal 2025, a free cash flow yield of 16.7% on its market value at year-end ($1.1 billion).
What is Safety Insurance's current ratio?
Safety Insurance's current ratio was 0.84 at the end of fiscal 2025: current assets were 0.84 times current liabilities.