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Side-by-side financial comparison of HCI Group, Inc. (HCI) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $246.2M, roughly 1.7× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 7.6%, a 32.0% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs -9.6%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $206.5M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
HCI vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $430.0M |
| Net Profit | $97.7M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | 58.5% | 8.6% |
| Net Margin | 39.7% | 7.6% |
| Revenue YoY | 52.1% | -9.6% |
| Net Profit YoY | 3679.2% | — |
| EPS (diluted) | $7.29 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $430.0M | ||
| Q4 25 | $246.2M | $504.3M | ||
| Q3 25 | $216.3M | $381.4M | ||
| Q2 25 | $221.9M | $384.5M | ||
| Q1 25 | $216.4M | $475.6M | ||
| Q4 24 | $161.9M | $490.8M | ||
| Q3 24 | $175.3M | $325.1M | ||
| Q2 24 | $206.2M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $97.7M | $234.6M | ||
| Q3 25 | $65.5M | $43.4M | ||
| Q2 25 | $66.2M | $30.1M | ||
| Q1 25 | $69.7M | $85.4M | ||
| Q4 24 | $2.6M | $119.1M | ||
| Q3 24 | $5.7M | $-14.4M | ||
| Q2 24 | $54.1M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 58.5% | 20.7% | ||
| Q3 25 | 41.9% | 3.8% | ||
| Q2 25 | 42.5% | 4.5% | ||
| Q1 25 | 46.4% | 26.7% | ||
| Q4 24 | 3.6% | 29.1% | ||
| Q3 24 | 8.0% | -3.6% | ||
| Q2 24 | 36.9% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 39.7% | 46.5% | ||
| Q3 25 | 30.3% | 11.4% | ||
| Q2 25 | 29.8% | 7.8% | ||
| Q1 25 | 32.2% | 18.0% | ||
| Q4 24 | 1.6% | 24.3% | ||
| Q3 24 | 3.2% | -4.4% | ||
| Q2 24 | 26.2% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $7.29 | $0.81 | ||
| Q3 25 | $4.90 | $0.24 | ||
| Q2 25 | $5.18 | $0.17 | ||
| Q1 25 | $5.35 | $0.91 | ||
| Q4 24 | $0.32 | $1.35 | ||
| Q3 24 | $0.52 | $-0.17 | ||
| Q2 24 | $4.24 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $705.9M |
| Total Assets | $2.5B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $1.2B | $425.8M | ||
| Q3 25 | $987.9M | $351.4M | ||
| Q2 25 | $947.2M | $411.6M | ||
| Q1 25 | $754.5M | $371.7M | ||
| Q4 24 | $532.5M | $740.0M | ||
| Q3 24 | $518.8M | $703.0M | ||
| Q2 24 | $445.8M | $665.1M |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $1.0B | $787.4M | ||
| Q3 25 | $821.8M | $596.8M | ||
| Q2 25 | $758.6M | $624.5M | ||
| Q1 25 | $522.7M | $611.3M | ||
| Q4 24 | $453.3M | $585.5M | ||
| Q3 24 | $455.3M | $473.0M | ||
| Q2 24 | $447.3M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $1.9B | $1.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $444.4M | — |
| Free Cash FlowOCF − Capex | $440.8M | $206.5M |
| FCF MarginFCF / Revenue | 179.0% | 48.0% |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $444.4M | $158.4M | ||
| Q3 25 | $26.7M | $56.3M | ||
| Q2 25 | $145.0M | $86.3M | ||
| Q1 25 | $162.0M | $204.2M | ||
| Q4 24 | $331.8M | $95.2M | ||
| Q3 24 | $104.1M | $30.5M | ||
| Q2 24 | $-29.0M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $440.8M | $152.4M | ||
| Q3 25 | $25.9M | $51.8M | ||
| Q2 25 | $144.5M | $84.1M | ||
| Q1 25 | $160.3M | $202.3M | ||
| Q4 24 | $327.8M | $92.4M | ||
| Q3 24 | $103.2M | $27.4M | ||
| Q2 24 | $-30.1M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 179.0% | 30.2% | ||
| Q3 25 | 12.0% | 13.6% | ||
| Q2 25 | 65.1% | 21.9% | ||
| Q1 25 | 74.1% | 42.5% | ||
| Q4 24 | 202.5% | 18.8% | ||
| Q3 24 | 58.9% | 8.4% | ||
| Q2 24 | -14.6% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 1.2% | ||
| Q3 25 | 0.4% | 1.2% | ||
| Q2 25 | 0.2% | 0.6% | ||
| Q1 25 | 0.8% | 0.4% | ||
| Q4 24 | 2.5% | 0.6% | ||
| Q3 24 | 0.5% | 0.9% | ||
| Q2 24 | 0.5% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.55× | 0.68× | ||
| Q3 25 | 0.41× | 1.30× | ||
| Q2 25 | 2.19× | 2.87× | ||
| Q1 25 | 2.32× | 2.39× | ||
| Q4 24 | 128.41× | 0.80× | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
