HG

MKT CAP:$3B

Hamilton Insurance Group, Ltd.

Market Cap

$3B

Financial Services·Insurance - Reinsurance·🇧🇲 Bermuda·NYSE

Financials·Insurance·🇧🇲·NYSE

Stock Price

$32.67+$5.40 (+19.80%)

Apr 24, 2026

Company Details

Hamilton Insurance Group, Ltd., through its subsidiaries, engages in underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company offers casualty reinsurance products, such as commercial motor, general ...

CEO

Giuseppina Carmela Albo

IPO Date

Nov 13, 2023

Website

www.hamiltongroup.com

Key Metrics TTM

Revenue

$1.2B

— YoY

Net Income

-$100M

EPS (Diluted)

-$0.99

Free Cash Flow

$239M

Revenue / Share

$11.30

Gross Margin

11.7%

Operating Margin

-8.0%

Net Margin

-8.1%

FCF Margin

19.2%

P/S

2.6x

P/E

—

Earnings Reports

Q4 2023

Apr 30, 2026

PENDING

FY 2023

Mar 7, 2024

$1.6B+25.7%EPS $2.44

Q3 2023

Dec 6, 2023

$407M+68.7%EPS $0.40

Q1 2023

Mar 30, 2023

$335M+28.0%EPS $0.47

FY 2022

Dec 30, 2022

$1.3BEPS -$0.89

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$262M	-$25M	-$75M
Q2 22	$387M	$256M	$257M
Q3 22	$241M	-$97M	-$150M
Q4 22	$260M	$8M	-$59M
Q1 23	$335M	$109M	$55M
Q3 23	$407M	$126M	$55M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	1.4x	—
Q1 23	1.4x	57.2x
Q3 23	1.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$17M	-$19M
Q2 22	$154M	$156M
Q3 22	$53M	$53M
Q4 22	$2M	$2M
Q1 23	$12M	$12M
Q3 23	$172M	$172M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$2M
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q3 23	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+28.0%	-16.7%
Q3 23	+5.2%	+171.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	1.0%
Q2 22	$0	0.0%
Q3 22	$4M	1.6%
Q4 22	$967.0K	0.4%
Q1 23	$2M	0.7%
Q3 23	$4M	1.0%

OpEx Breakdown

Quarter	G&A
Q1 22	$5M
Q2 22	$46M
Q3 22	$6M
Q4 22	$4M
Q1 23	$7M
Q3 23	$19M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$1.1B	$0	$1.1B
Q1 23	$946M	$0	$946M
Q2 23	$819M	$0	$819M
Q3 23	$805M	$349M	$1.2B
Q4 23	$795M	$429M	$1.2B
Q1 24	$1.1B	$352M	$1.4B
Q2 24	$1.0B	$464M	$1.5B
Q3 24	$957M	$656M	$1.6B
Q4 24	$996M	$497M	$1.5B
Q1 25	$839M	$558M	$1.4B
Q2 25	$986M	$1.0B	$2.0B
Q3 25	$955M	$3.3B	$4.2B
Q4 25	$1.2B	$200M	$1.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	110M	—	—
Q2 22	110M	0.0%	—
Q3 22	103M	-6.3%	—
Q4 22	110M	+6.7%	—
Q1 23	110M	0.0%	0.0%
Q3 23	110M	0.0%	0.0%

Shares Outstanding