Universal Insurance Holdings, Inc. (UVE) 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

+341.7%

$217.78

vs $49.30 price

Levered DCF

$181.17

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

1.82

Grey zone

Rating

Overall 4 / 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	5.15×	10.17×	7.13×	-14.71×	26.15×	25.18×	20.43×	11.29×
P/B	1.71×	1.61×	1.4×	1.13×	1.24×	1.07×	1.92×	2.63×
P/S	0.59×	0.39×	0.34×	0.27×	0.47×	0.45×	1.01×	1.6×
EV / EBITDA	2.47×	4.58×	1.93×	-2.83×	11.44×	12.99×	12.66×	7.4×
Gross margin	38.2%	13.1%	13.7%	5.7%	10.4%	10.7%	16.9%	30.6%
Operating margin	15.2%	5.6%	6.3%	-2.2%	2.5%	2.3%	6.8%	18.6%
Net margin	11.5%	3.9%	4.8%	-1.8%	1.8%	1.8%	5.0%	14.2%
Current ratio	0.58×	2.54×	1.11×	1.05×	1.18×	0×	0×	7.41×
Debt / equity	0.18×	0.27×	0.34×	0.36×	0.3×	0.15×	0.2×	0.02×
Interest coverage	50.3×	14.67×	15.17×	-4.61×	48.82×	255.06×	0×	0×
Dividend yield	2.4%	3.7%	4.9%	7.3%	4.6%	5.1%	2.8%	1.9%
Payout ratio	12.1%	37.9%	34.9%	-106.9%	118.6%	128.5%	56.1%	21.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	33.2%	15.8%	19.6%	-7.7%	4.7%	4.3%	9.4%	23.3%
Return on invested capital	26.4%	5.5%	12.5%	-5.0%	3.6%	32.2%	51.5%	3.6%
Return on assets	6.4%	2.1%	2.9%	-0.8%	1.0%	1.1%	2.7%	6.3%
Free cash flow yield	40.1%	21.7%	14.0%	98.1%	42.8%	2.5%	7.7%	16.9%
Earnings yield	19.4%	9.8%	14.0%	-6.8%	3.8%	4.0%	4.9%	8.9%
Enterprise value	$633M	$442M	$196M	$39.7M	$410.6M	$382.5M	$866.9M	$1.2B
Net debt / EBITDA	-1.2×	-1.64×	-2.77×	20.36×	-3.34×	-3.37×	-1.19×	-0.98×
Cash conversion cycle (days)	-25	108	19	141	19	84	56	238