HG FY 2023 Earnings Report — Hamilton Insurance Group, Ltd. Revenue & Financial Results | Market Cap Arena

Hamilton Insurance Group, Ltd.HG

FY 2023 Earnings

Reported March 7, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.3B	—	25.7%
Op. Income	$255M	—	-$27M	—	1051.2%
Gross Margin	33.8%	—	15.8%	—	18.0pp
Net Margin	16.0%	—	-7.6%	—	23.6pp
EPS (Diluted)	$2.44	—	$-0.89	—	374.2%
Free Cash Flow	$283M	—	$191M	—	48.3%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$547M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$77M
SG&A Expenses	$77M
Other Expenses	$215M
Operating Expenses	$292M
Cost & Expenses	$1.4B
OPERATING INCOME	$255M
Interest Income	$78M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$255M
Income Tax Expense	-$25M
Net Income from Continuing Ops	$280M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$12M
EBIT	$277M
EBITDA	$289M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$547M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$77M
SG&A Expenses	$77M
Other Expenses	$215M
Operating Expenses	$292M
Cost & Expenses	$1.4B
OPERATING INCOME	$255M
Interest Income	$78M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$255M
Income Tax Expense	-$25M
Net Income from Continuing Ops	$280M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$12M
EBIT	$277M
EBITDA	$289M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$259M
Depreciation & Amortization	$12M
Stock-Based Compensation	$44M
Deferred Income Tax	$0
Other Non-Cash Items	-$195M
Change in Working Capital	$162M
OPERATING CASH FLOW	$283M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$5.3B
Sales/Maturities of Investments	$4.7B
Other Investing Activities	-$18M
NET CASH FROM INVESTING	-$652M
Net Debt Issuance	$0
Common Stock Repurchased	-$2M
Common Dividends Paid	$0
Other Financing Activities	-$22M
NET CASH FROM FINANCING	$59M
FREE CASH FLOW	$283M
Net Change in Cash	-$306M

Balance Sheet

Item	Amount
Cash & Equivalents	$795M
Short-Term Investments	$429M
Net Receivables	$2.0B
Inventory	$0
Other Current Assets	-$3.4B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$91M
Long-Term Investments	$3.1B
Tax Assets	$0
Other Non-Current Assets	-$3.2B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$6.7B
Account Payables	$459M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$532M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$150M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$150M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$4.6B
Common Stock	$1M
Additional Paid-In Capital	$1.2B
Retained Earnings	$801M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$133.0K
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$6.7B
Total Debt	$150M
Net Debt	-$645M