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Side-by-side financial comparison of Hagerty, Inc. (HGTY) and REPLIGEN CORP (RGEN). Click either name above to swap in a different company.

Hagerty, Inc. is the larger business by last-quarter revenue ($388.1M vs $197.9M, roughly 2.0× REPLIGEN CORP). Hagerty, Inc. runs the higher net margin — 7.4% vs 6.7%, a 0.6% gap on every dollar of revenue. On growth, Hagerty, Inc. posted the faster year-over-year revenue change (16.5% vs 13.6%). Hagerty, Inc. produced more free cash flow last quarter ($194.5M vs $17.6M). Over the past eight quarters, Hagerty, Inc.'s revenue compounded faster (19.5% CAGR vs 14.4%).

Hagerty, Inc. is an American automotive lifestyle and membership company, as well as the world's largest provider of specialty insurance for classic vehicles. Hagerty is based in Traverse City, Michigan and also operates in Canada, Germany and the United Kingdom.

Repligen Corporation is a global life sciences company devoted to the development and commercialization of innovative bioprocessing technologies and systems that enable efficiencies in the process of manufacturing biological drugs.2025 The company is based in Waltham, Massachusetts,2014 and was incorporated in Delaware in 1981. A public company, Repligen is listed on the NASDAQ exchange under the symbol RGEN. As of 2025, Repligen employs over 1,900 employees globally and serves primarily biop...

HGTY vs RGEN — Head-to-Head

Bigger by revenue
HGTY
HGTY
2.0× larger
HGTY
$388.1M
$197.9M
RGEN
Growing faster (revenue YoY)
HGTY
HGTY
+2.8% gap
HGTY
16.5%
13.6%
RGEN
Higher net margin
HGTY
HGTY
0.6% more per $
HGTY
7.4%
6.7%
RGEN
More free cash flow
HGTY
HGTY
$176.9M more FCF
HGTY
$194.5M
$17.6M
RGEN
Faster 2-yr revenue CAGR
HGTY
HGTY
Annualised
HGTY
19.5%
14.4%
RGEN

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
HGTY
HGTY
RGEN
RGEN
Revenue
$388.1M
$197.9M
Net Profit
$28.6M
$13.3M
Gross Margin
52.5%
Operating Margin
10.2%
9.0%
Net Margin
7.4%
6.7%
Revenue YoY
16.5%
13.6%
Net Profit YoY
238.4%
143.9%
EPS (diluted)
$0.24

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.

Revenue
HGTY
HGTY
RGEN
RGEN
Q4 25
$388.1M
$197.9M
Q3 25
$380.0M
$188.8M
Q2 25
$368.7M
$182.4M
Q1 25
$319.6M
$169.2M
Q4 24
$333.2M
$174.1M
Q3 24
$323.4M
$154.9M
Q2 24
$313.2M
$154.1M
Q1 24
$271.7M
$151.3M
Net Profit
HGTY
HGTY
RGEN
RGEN
Q4 25
$28.6M
$13.3M
Q3 25
$46.2M
$14.9M
Q2 25
$47.2M
$14.9M
Q1 25
$27.3M
$5.8M
Q4 24
$8.4M
$-30.3M
Q3 24
$19.0M
$-654.0K
Q2 24
$42.7M
$3.3M
Q1 24
$8.2M
$2.1M
Gross Margin
HGTY
HGTY
RGEN
RGEN
Q4 25
52.5%
Q3 25
53.2%
Q2 25
50.0%
Q1 25
53.6%
Q4 24
26.1%
Q3 24
50.0%
Q2 24
49.8%
Q1 24
49.5%
Operating Margin
HGTY
HGTY
RGEN
RGEN
Q4 25
10.2%
9.0%
Q3 25
9.0%
8.9%
Q2 25
12.9%
7.6%
Q1 25
8.1%
3.9%
Q4 24
1.8%
-17.7%
Q3 24
3.1%
-5.1%
Q2 24
12.2%
1.0%
Q1 24
4.5%
1.3%
Net Margin
HGTY
HGTY
RGEN
RGEN
Q4 25
7.4%
6.7%
Q3 25
12.2%
7.9%
Q2 25
12.8%
8.2%
Q1 25
8.5%
3.4%
Q4 24
2.5%
-17.4%
Q3 24
5.9%
-0.4%
Q2 24
13.6%
2.2%
Q1 24
3.0%
1.4%
EPS (diluted)
HGTY
HGTY
RGEN
RGEN
Q4 25
$0.24
Q3 25
$0.26
Q2 25
$0.26
Q1 25
$0.10
Q4 24
$-0.55
Q3 24
$-0.01
Q2 24
$0.06
Q1 24
$0.04

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HGTY
HGTY
RGEN
RGEN
Cash + ST InvestmentsLiquidity on hand
$160.2M
$767.6M
Total DebtLower is stronger
$177.9M
$542.2M
Stockholders' EquityBook value
$221.3M
$2.1B
Total Assets
$2.1B
$2.9B
Debt / EquityLower = less leverage
0.80×
0.26×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HGTY
HGTY
RGEN
RGEN
Q4 25
$160.2M
$767.6M
Q3 25
$290.5M
$748.7M
Q2 25
$259.6M
$708.9M
Q1 25
$232.7M
$697.2M
Q4 24
$178.7M
$757.4M
Q3 24
$208.9M
$784.0M
Q2 24
$186.4M
$809.1M
Q1 24
$131.2M
$780.6M
Total Debt
HGTY
HGTY
RGEN
RGEN
Q4 25
$177.9M
$542.2M
Q3 25
$104.4M
$537.9M
Q2 25
$153.4M
Q1 25
$132.6M
Q4 24
$105.8M
$525.6M
Q3 24
$122.9M
Q2 24
$98.0M
Q1 24
$91.5M
Stockholders' Equity
HGTY
HGTY
RGEN
RGEN
Q4 25
$221.3M
$2.1B
Q3 25
$211.7M
$2.1B
Q2 25
$172.3M
$2.1B
Q1 25
$162.9M
$2.0B
Q4 24
$150.3M
$2.0B
Q3 24
$148.3M
$2.0B
Q2 24
$94.4M
$2.0B
Q1 24
$93.5M
$2.0B
Total Assets
HGTY
HGTY
RGEN
RGEN
Q4 25
$2.1B
$2.9B
Q3 25
$2.2B
$2.9B
Q2 25
$2.0B
$2.9B
Q1 25
$1.8B
$2.9B
Q4 24
$1.7B
$2.8B
Q3 24
$1.8B
$2.8B
Q2 24
$1.7B
$2.9B
Q1 24
$1.6B
$2.8B
Debt / Equity
HGTY
HGTY
RGEN
RGEN
Q4 25
0.80×
0.26×
Q3 25
0.49×
0.26×
Q2 25
0.89×
Q1 25
0.81×
Q4 24
0.70×
0.27×
Q3 24
0.83×
Q2 24
1.04×
Q1 24
0.98×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HGTY
HGTY
RGEN
RGEN
Operating Cash FlowLast quarter
$219.0M
$25.7M
Free Cash FlowOCF − Capex
$194.5M
$17.6M
FCF MarginFCF / Revenue
50.1%
8.9%
Capex IntensityCapex / Revenue
6.3%
4.1%
Cash ConversionOCF / Net Profit
7.67×
1.93×
TTM Free Cash FlowTrailing 4 quarters
$365.8M
$93.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HGTY
HGTY
RGEN
RGEN
Q4 25
$219.0M
$25.7M
Q3 25
$92.2M
$48.1M
Q2 25
$53.9M
$28.6M
Q1 25
$43.8M
$15.0M
Q4 24
$177.0M
$39.2M
Q3 24
$67.4M
$49.3M
Q2 24
$64.0M
$42.2M
Q1 24
$58.2M
$44.7M
Free Cash Flow
HGTY
HGTY
RGEN
RGEN
Q4 25
$194.5M
$17.6M
Q3 25
$85.2M
$43.4M
Q2 25
$47.7M
$21.5M
Q1 25
$38.4M
$11.4M
Q4 24
$155.7M
$33.6M
Q3 24
$62.0M
$42.3M
Q2 24
$56.6M
$37.4M
Q1 24
$53.7M
$36.4M
FCF Margin
HGTY
HGTY
RGEN
RGEN
Q4 25
50.1%
8.9%
Q3 25
22.4%
23.0%
Q2 25
12.9%
11.8%
Q1 25
12.0%
6.8%
Q4 24
46.7%
19.3%
Q3 24
19.2%
27.3%
Q2 24
18.1%
24.3%
Q1 24
19.8%
24.0%
Capex Intensity
HGTY
HGTY
RGEN
RGEN
Q4 25
6.3%
4.1%
Q3 25
1.8%
2.5%
Q2 25
1.7%
3.9%
Q1 25
1.7%
2.1%
Q4 24
6.4%
3.2%
Q3 24
1.7%
4.5%
Q2 24
2.4%
3.1%
Q1 24
1.7%
5.5%
Cash Conversion
HGTY
HGTY
RGEN
RGEN
Q4 25
7.67×
1.93×
Q3 25
2.00×
3.23×
Q2 25
1.14×
1.92×
Q1 25
1.61×
2.57×
Q4 24
20.97×
Q3 24
3.55×
Q2 24
1.50×
12.70×
Q1 24
7.10×
21.35×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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