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Side-by-side financial comparison of Heritage Insurance Holdings, Inc. (HRTG) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $215.3M, roughly 1.2× Heritage Insurance Holdings, Inc.). Heritage Insurance Holdings, Inc. runs the higher net margin — 31.0% vs 1.4%, a 29.6% gap on every dollar of revenue. On growth, Heritage Insurance Holdings, Inc. posted the faster year-over-year revenue change (2.4% vs -9.4%). Heritage Insurance Holdings, Inc. produced more free cash flow last quarter ($174.2M vs $8.7M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% CAGR vs 6.1%).
United Property & Casualty Insurance Company, Inc. is an American property and casualty insurance company with headquarters in Florida. It writes commercial, residential, homeowners’, and flood insurance policies in several coastal states.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
HRTG vs SDHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $215.3M | $260.4M |
| Net Profit | $66.7M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | 41.6% | 6.5% |
| Net Margin | 31.0% | 1.4% |
| Revenue YoY | 2.4% | -9.4% |
| Net Profit YoY | 228.6% | -14.3% |
| EPS (diluted) | $2.15 | $0.39 |
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 | $215.3M | $260.4M | ||
| Q3 25 | $212.5M | $262.0M | ||
| Q2 25 | $208.0M | $223.9M | ||
| Q1 25 | $211.5M | $224.7M | ||
| Q4 24 | $210.3M | $287.5M | ||
| Q3 24 | $211.8M | $277.8M | ||
| Q2 24 | $203.6M | $220.9M | ||
| Q1 24 | $191.3M | $189.2M |
| Q4 25 | $66.7M | $3.5M | ||
| Q3 25 | $50.4M | $2.1M | ||
| Q2 25 | $48.0M | $2.4M | ||
| Q1 25 | $30.5M | $2.7M | ||
| Q4 24 | $20.3M | $4.1M | ||
| Q3 24 | $8.2M | $5.3M | ||
| Q2 24 | $18.9M | $3.6M | ||
| Q1 24 | $14.2M | $3.0M |
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | — | 26.1% |
| Q4 25 | 41.6% | 6.5% | ||
| Q3 25 | 33.0% | 6.6% | ||
| Q2 25 | 31.2% | 7.7% | ||
| Q1 25 | 20.1% | 8.7% | ||
| Q4 24 | 15.0% | 10.4% | ||
| Q3 24 | 5.5% | 14.2% | ||
| Q2 24 | 13.6% | 11.7% | ||
| Q1 24 | 11.9% | 11.3% |
| Q4 25 | 31.0% | 1.4% | ||
| Q3 25 | 23.7% | 0.8% | ||
| Q2 25 | 23.1% | 1.1% | ||
| Q1 25 | 14.4% | 1.2% | ||
| Q4 24 | 9.7% | 1.4% | ||
| Q3 24 | 3.8% | 1.9% | ||
| Q2 24 | 9.3% | 1.7% | ||
| Q1 24 | 7.4% | 1.6% |
| Q4 25 | $2.15 | $0.39 | ||
| Q3 25 | $1.63 | $0.24 | ||
| Q2 25 | $1.55 | $0.26 | ||
| Q1 25 | $0.99 | $0.30 | ||
| Q4 24 | $0.66 | $0.50 | ||
| Q3 24 | $0.27 | $0.58 | ||
| Q2 24 | $0.61 | $0.40 | ||
| Q1 24 | $0.47 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $559.3M | $12.7M |
| Total DebtLower is stronger | $78.4M | — |
| Stockholders' EquityBook value | $505.3M | $86.7M |
| Total Assets | $2.2B | $557.6M |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $559.3M | $12.7M | ||
| Q3 25 | $560.4M | $14.8M | ||
| Q2 25 | $473.5M | $16.8M | ||
| Q1 25 | $425.9M | $12.7M | ||
| Q4 24 | $452.7M | $22.4M | ||
| Q3 24 | $509.9M | $23.7M | ||
| Q2 24 | $480.9M | $17.3M | ||
| Q1 24 | $386.1M | $32.8M |
| Q4 25 | $78.4M | — | ||
| Q3 25 | $79.3M | — | ||
| Q2 25 | $92.4M | — | ||
| Q1 25 | $94.8M | — | ||
| Q4 24 | $116.3M | — | ||
| Q3 24 | $118.6M | — | ||
| Q2 24 | $120.8M | — | ||
| Q1 24 | $123.0M | — |
| Q4 25 | $505.3M | $86.7M | ||
| Q3 25 | $437.3M | $82.2M | ||
| Q2 25 | $383.3M | $80.0M | ||
| Q1 25 | $329.0M | $76.9M | ||
| Q4 24 | $290.8M | $73.6M | ||
| Q3 24 | $279.3M | $68.4M | ||
| Q2 24 | $255.3M | $62.1M | ||
| Q1 24 | $234.9M | $59.7M |
| Q4 25 | $2.2B | $557.6M | ||
| Q3 25 | $2.4B | $571.6M | ||
| Q2 25 | $2.5B | $570.2M | ||
| Q1 25 | $2.2B | $513.9M | ||
| Q4 24 | $2.5B | $475.9M | ||
| Q3 24 | $2.4B | $460.1M | ||
| Q2 24 | $2.6B | $429.3M | ||
| Q1 24 | $2.1B | $401.3M |
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.40× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.52× | — |
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 | $182.2M | $9.8M |
| Free Cash FlowOCF − Capex | $174.2M | $8.7M |
| FCF MarginFCF / Revenue | 80.9% | 3.4% |
| Capex IntensityCapex / Revenue | 3.7% | 0.4% |
| Cash ConversionOCF / Net Profit | 2.73× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $337.4M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $182.2M | $9.8M | ||
| Q3 25 | $124.3M | $22.8M | ||
| Q2 25 | $43.3M | $-28.9M | ||
| Q1 25 | $837.0K | $-34.9M | ||
| Q4 24 | $87.1M | $5.5M | ||
| Q3 24 | $-13.4M | $22.9M | ||
| Q2 24 | $152.2M | $39.0K | ||
| Q1 24 | $4.3M | $-9.3M |
| Q4 25 | $174.2M | $8.7M | ||
| Q3 25 | $122.7M | $21.4M | ||
| Q2 25 | $41.8M | $-31.1M | ||
| Q1 25 | $-1.3M | $-35.9M | ||
| Q4 24 | $78.9M | $4.8M | ||
| Q3 24 | $-16.3M | $22.3M | ||
| Q2 24 | $149.8M | $-2.1M | ||
| Q1 24 | $4.1M | $-9.7M |
| Q4 25 | 80.9% | 3.4% | ||
| Q3 25 | 57.8% | 8.2% | ||
| Q2 25 | 20.1% | -13.9% | ||
| Q1 25 | -0.6% | -16.0% | ||
| Q4 24 | 37.5% | 1.7% | ||
| Q3 24 | -7.7% | 8.0% | ||
| Q2 24 | 73.6% | -1.0% | ||
| Q1 24 | 2.1% | -5.1% |
| Q4 25 | 3.7% | 0.4% | ||
| Q3 25 | 0.7% | 0.5% | ||
| Q2 25 | 0.7% | 0.9% | ||
| Q1 25 | 1.0% | 0.5% | ||
| Q4 24 | 3.9% | 0.2% | ||
| Q3 24 | 1.4% | 0.2% | ||
| Q2 24 | 1.2% | 1.0% | ||
| Q1 24 | 0.1% | 0.2% |
| Q4 25 | 2.73× | 2.77× | ||
| Q3 25 | 2.47× | 10.70× | ||
| Q2 25 | 0.90× | -12.24× | ||
| Q1 25 | 0.03× | -13.01× | ||
| Q4 24 | 4.29× | 1.33× | ||
| Q3 24 | -1.64× | 4.28× | ||
| Q2 24 | 8.07× | 0.01× | ||
| Q1 24 | 0.30× | -3.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HRTG
Segment breakdown not available.
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
