The Hartford Insurance Group, Inc. (HIG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+77.3%

$238.05

vs $134.26 price

Levered DCF

$493.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.37

Distress zone

Rating

A+

Overall 5 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	10.2×	10.41×	9.94×	13.74×	10.29×	10.23×	10.62×	8.82×
P/B	2.05×	1.95×	1.61×	1.81×	1.35×	0.95×	1.35×	1.22×
P/S	1.38×	1.22×	1.01×	1.13×	1.11×	0.86×	1.07×	0.85×
EV / EBITDA	8.06×	8.64×	8.04×	9.96×	8.04×	8.11×	8.13×	8.14×
Gross margin	46.1%	15.0%	13.0%	9.4%	11.4%	11.5%	13.4%	10.2%
Operating margin	16.8%	14.6%	12.7%	10.4%	13.4%	10.4%	12.5%	9.3%
Net margin	13.6%	11.8%	10.3%	8.3%	11.0%	8.5%	10.2%	9.6%
Current ratio	17.65×	16.69×	0.33×	24.79×	0×	0×	5.97×	0.88×
Debt / equity	0.23×	0.27×	0.28×	0.32×	0.28×	0.23×	0.3×	0.36×
Interest coverage	23.92×	19.34×	15.52×	10.62×	12.41×	8.98×	9.88×	5.88×
Dividend yield	1.6%	1.8%	2.2%	2.1%	2.1%	2.7%	2.1%	2.4%
Payout ratio	16.0%	18.5%	21.9%	29.0%	21.3%	27.5%	21.8%	21.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	20.2%	18.9%	16.3%	13.3%	13.3%	9.4%	12.8%	13.8%
Return on invested capital	28.2%	23.8%	7.2%	1.8%	8.0%	14.8%	18.6%	8.4%
Return on assets	4.5%	3.8%	3.6%	2.5%	3.1%	2.3%	2.9%	2.9%
Free cash flow yield	14.8%	17.9%	16.2%	15.6%	16.4%	21.4%	15.4%	17.1%
Earnings yield	9.9%	9.7%	10.1%	7.4%	9.8%	9.9%	9.5%	11.3%
Enterprise value	$43.2B	$36.3B	$28.9B	$28.8B	$28.8B	$21.8B	$26.6B	$20.5B
Net debt / EBITDA	0.79×	0.99×	1.18×	1.43×	1.32×	1.57×	1.43×	1.81×
Cash conversion cycle (days)	67	73	191	187	185	185	176	146