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Side-by-side financial comparison of HCI Group, Inc. (HCI) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $246.2M, roughly 1.0× HCI Group, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 52.1%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $409.0M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
HCI vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $253.4M |
| Net Profit | $97.7M | — |
| Gross Margin | — | — |
| Operating Margin | 58.5% | 28.7% |
| Net Margin | 39.7% | — |
| Revenue YoY | 52.1% | 62.7% |
| Net Profit YoY | 3679.2% | — |
| EPS (diluted) | $7.29 | $2.05 |
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.
| Q4 25 | $246.2M | $253.4M | ||
| Q3 25 | $216.3M | $244.7M | ||
| Q2 25 | $221.9M | $203.3M | ||
| Q1 25 | $216.4M | $174.6M | ||
| Q4 24 | $161.9M | $155.8M | ||
| Q3 24 | $175.3M | $148.5M | ||
| Q2 24 | $206.2M | $131.1M | ||
| Q1 24 | $206.6M | $118.5M |
| Q4 25 | $97.7M | — | ||
| Q3 25 | $65.5M | $51.5M | ||
| Q2 25 | $66.2M | $46.5M | ||
| Q1 25 | $69.7M | $42.9M | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $5.7M | $30.5M | ||
| Q2 24 | $54.1M | $25.7M | ||
| Q1 24 | $47.6M | $26.4M |
| Q4 25 | 58.5% | 28.7% | ||
| Q3 25 | 41.9% | 27.4% | ||
| Q2 25 | 42.5% | 29.5% | ||
| Q1 25 | 46.4% | 30.8% | ||
| Q4 24 | 3.6% | 28.9% | ||
| Q3 24 | 8.0% | 25.9% | ||
| Q2 24 | 36.9% | 25.5% | ||
| Q1 24 | 37.5% | 29.0% |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 30.3% | 21.0% | ||
| Q2 25 | 29.8% | 22.9% | ||
| Q1 25 | 32.2% | 24.6% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 3.2% | 20.5% | ||
| Q2 24 | 26.2% | 19.6% | ||
| Q1 24 | 23.0% | 22.3% |
| Q4 25 | $7.29 | $2.05 | ||
| Q3 25 | $4.90 | $1.87 | ||
| Q2 25 | $5.18 | $1.68 | ||
| Q1 25 | $5.35 | $1.57 | ||
| Q4 24 | $0.32 | $1.29 | ||
| Q3 24 | $0.52 | $1.15 | ||
| Q2 24 | $4.24 | $1.00 | ||
| Q1 24 | $3.81 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $942.7M |
| Total Assets | $2.5B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $106.9M | ||
| Q3 25 | $987.9M | $111.7M | ||
| Q2 25 | $947.2M | $81.3M | ||
| Q1 25 | $754.5M | $119.3M | ||
| Q4 24 | $532.5M | $80.4M | ||
| Q3 24 | $518.8M | $86.5M | ||
| Q2 24 | $445.8M | $47.8M | ||
| Q1 24 | $655.4M | $61.4M |
| Q4 25 | $1.0B | $942.7M | ||
| Q3 25 | $821.8M | $878.1M | ||
| Q2 25 | $758.6M | $847.2M | ||
| Q1 25 | $522.7M | $790.4M | ||
| Q4 24 | $453.3M | $729.0M | ||
| Q3 24 | $455.3M | $703.3M | ||
| Q2 24 | $447.3M | $532.6M | ||
| Q1 24 | $395.7M | $501.7M |
| Q4 25 | $2.5B | $3.1B | ||
| Q3 25 | $2.3B | $2.9B | ||
| Q2 25 | $2.4B | $2.8B | ||
| Q1 25 | $2.3B | $2.4B | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $1.9B | $2.0B | ||
| Q1 24 | $1.8B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $440.8M | $409.0M |
| FCF MarginFCF / Revenue | 179.0% | 161.4% |
| Capex IntensityCapex / Revenue | 1.5% | 0.1% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $409.1M | ||
| Q3 25 | $26.7M | $83.6M | ||
| Q2 25 | $145.0M | $120.9M | ||
| Q1 25 | $162.0M | $87.2M | ||
| Q4 24 | $331.8M | $261.2M | ||
| Q3 24 | $104.1M | $100.3M | ||
| Q2 24 | $-29.0M | $55.1M | ||
| Q1 24 | $182.0M | $33.1M |
| Q4 25 | $440.8M | $409.0M | ||
| Q3 25 | $25.9M | $83.6M | ||
| Q2 25 | $144.5M | $120.8M | ||
| Q1 25 | $160.3M | $87.1M | ||
| Q4 24 | $327.8M | $260.9M | ||
| Q3 24 | $103.2M | $100.1M | ||
| Q2 24 | $-30.1M | — | ||
| Q1 24 | $181.0M | — |
| Q4 25 | 179.0% | 161.4% | ||
| Q3 25 | 12.0% | 34.2% | ||
| Q2 25 | 65.1% | 59.4% | ||
| Q1 25 | 74.1% | 49.9% | ||
| Q4 24 | 202.5% | 167.5% | ||
| Q3 24 | 58.9% | 67.4% | ||
| Q2 24 | -14.6% | — | ||
| Q1 24 | 87.6% | — |
| Q4 25 | 1.5% | 0.1% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.8% | 0.0% | ||
| Q4 24 | 2.5% | 0.2% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.5% | 0.0% | ||
| Q1 24 | 0.5% | 0.0% |
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | 1.63× | ||
| Q2 25 | 2.19× | 2.60× | ||
| Q1 25 | 2.32× | 2.03× | ||
| Q4 24 | 128.41× | — | ||
| Q3 24 | 18.33× | 3.29× | ||
| Q2 24 | -0.54× | 2.14× | ||
| Q1 24 | 3.82× | 1.26× |
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% |
PLMR
Segment breakdown not available.
