DGICA

MKT CAP:$644M

Donegal Group Inc.

Market Cap

$644M

Financial Services·Insurance - Property & Casualty·🇺🇸 United States·NASDAQ

Financials·Insurance·🇺🇸·NASDAQ

Stock Price

$17.40-$2.03 (-10.45%)

Apr 22, 2026

Company Details

Donegal Group Inc., an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance,...

CEO

Kevin Gerard Burke

IPO Date

Jul 3, 2003

Website

www.donegalgroup.com

Key Metrics TTM

Revenue

$978M

-1.1% YoY

Net Income

$79M

EPS (Diluted)

$2.23

Free Cash Flow

$70M

Revenue / Share

$30.80

Gross Margin

30.5%

Operating Margin

10.0%

Net Margin

8.1%

FCF Margin

7.2%

P/S

0.7x

P/E

8.1x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Mar 6, 2026

$978M-1.2%EPS $2.18

Q4 2025

Mar 6, 2026

$240M-3.9%EPS $0.47

Q3 2025

Nov 3, 2025

$246M-2.3%EPS $0.60

Q2 2025

Aug 5, 2025

$247M+0.2%EPS $0.46

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$208M	$208M	$16M
Q2 22	$204M	$204M	-$11M
Q3 22	$213M	$213M	-$13M
Q4 22	$223M	$223M	$4M
Q1 23	$225M	$49M	$6M
Q2 23	$229M	$229M	$2M
Q3 23	$234M	$234M	-$1M
Q4 23	$239M	$239M	-$2M
Q1 24	$241M	$51M	$7M
Q2 24	$247M	$41M	$5M
Q3 24	$252M	$65M	$20M
Q4 24	$250M	$250M	$30M
Q1 25	$245M	$74M	$31M
Q2 25	$247M	$57M	$20M
Q3 25	$246M	$66M	$25M
Q4 25	$240M	$101M	$21M

Valuation

Quarter	P/S	P/E
Q1 22	0.5x	15.3x
Q2 22	0.6x	148.5x
Q3 22	0.5x	—
Q4 22	0.6x	—
Q1 23	0.6x	—
Q2 23	0.5x	1581.5x
Q3 23	0.5x	47.4x
Q4 23	0.5x	105.4x
Q1 24	0.5x	89.6x
Q2 24	0.4x	58.2x
Q3 24	0.5x	19.5x
Q4 24	0.5x	10.0x
Q1 25	0.7x	9.8x
Q2 25	0.7x	8.6x
Q3 25	0.7x	8.0x
Q4 25	0.6x	7.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$21M	$21M
Q2 22	$14M	$14M
Q3 22	$15M	$15M
Q4 22	$17M	$17M
Q1 23	-$680.7K	-$725.4K
Q2 23	$14M	$14M
Q3 23	$13M	$13M
Q4 23	$3M	$3M
Q1 24	$5M	$5M
Q2 24	$22M	$22M
Q3 24	$13M	$13M
Q4 24	$28M	$28M
Q1 25	$26M	$26M
Q2 25	$12M	$12M
Q3 25	$22M	$22M
Q4 25	$10M	$10M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$44.7K
Q2 23	$3
Q3 23	$2
Q4 23	$0
Q1 24	$4
Q2 24	$3
Q3 24	$3
Q4 24	$3
Q1 25	$100.0K
Q2 25	$0
Q3 25	$0
Q4 25	$323

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+4.9%	+3.3%
Q2 22	-0.4%	+15.9%
Q3 22	+4.8%	+6.8%
Q4 22	+6.3%	+7.7%
Q1 23	+8.2%	+14.1%
Q2 23	+12.2%	+5.6%
Q3 23	+9.9%	+3.9%
Q4 23	+7.2%	+10.3%
Q1 24	+7.3%	+7.1%
Q2 24	+7.7%	+6.5%
Q3 24	+7.6%	-1.5%
Q4 24	+4.4%	-9.0%
Q1 25	+1.7%	-8.5%
Q2 25	+0.2%	-6.2%
Q3 25	-2.3%	-4.5%
Q4 25	-3.9%	-0.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$241.6K	0.1%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$251.8K	0.1%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$193.1K	0.1%
Q1 24	$0	0.0%
Q2 24	$278.3K	0.1%
Q3 24	-$564.3K	-0.2%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$56M	$526M	$582M
Q2 22	$22M	$554M	$576M
Q3 22	$27M	$538M	$564M
Q4 22	$25M	$581M	$606M
Q1 23	$23M	$575M	$597M
Q2 23	$25M	$584M	$609M
Q3 23	$24M	$316M	$339M
Q4 23	$24M	$622M	$645M
Q1 24	$20M	$361M	$381M
Q2 24	$24M	$355M	$379M
Q3 24	$29M	$348M	$377M
Q4 24	$53M	$349M	$402M
Q1 25	$64M	$371M	$436M
Q2 25	$57M	$411M	$468M
Q3 25	$39M	$474M	$512M
Q4 25	$27M	$494M	$521M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	31M	+0.0%	+3.0%
Q2 22	32M	+0.8%	+1.5%
Q3 22	32M	+2.2%	+3.0%
Q4 22	33M	+0.8%	+4.0%
Q1 23	33M	+1.0%	+5.0%
Q2 23	33M	+0.4%	+4.5%
Q3 23	33M	+0.5%	+2.7%
Q4 23	33M	+0.2%	+2.1%
Q1 24	33M	+0.4%	+1.5%
Q2 24	33M	-0.0%	+1.1%
Q3 24	34M	+0.6%	+1.2%
Q4 24	33M	-1.7%	-0.7%
Q1 25	36M	+8.9%	+7.7%
Q2 25	36M	+1.0%	+8.8%
Q3 25	31M	-14.5%	-7.6%
Q4 25	32M	+2.2%	-4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$247.8K	838
Q2 22	$243.8K	838
Q3 22	$254.0K	838
Q4 22	$255.1K	876
Q1 23	$256.6K	876
Q2 23	$261.6K	876
Q3 23	$267.0K	876
Q4 23	$274.6K	872
Q1 24	$276.5K	872
Q2 24	$283.0K	872
Q3 24	$288.7K	872
Q4 24	$293.7K	851
Q1 25	$288.1K	851
Q2 25	$290.4K	851
Q3 25	$289.0K	851
Q4 25	$282.2K	851

Revenue / Employee