Hagerty Intrinsic Value Calculator – HAGERTY Reports Record Revenue of USD 259.5 Million in Q2 FY2023
August 20, 2023
🌥️Earnings Overview
On June 30 2023, HAGERTY ($NYSE:HGTY) announced its financial results for Q2 of FY2023 showing total revenue of USD 259.5 million, a 29.3% increase from the year prior. Net income for the quarter was USD 2.4 million, a 143.3% increase over the same period the year before.
Market Price
The company’s stock opened at $8.4 and closed at $8.5, up by 0.1% from its last closing price of USD 8.5. This is a significant achievement for the company, as it demonstrates their ability to continue to show a strong performance despite the challenging economic conditions. This was driven by increased demand for their products and services, which has helped them to remain resilient and profitable despite the pandemic.
The company also indicated that they have made strategic investments in order to build long-term growth and sustainability, which bodes well for their future prospects. With their continued efforts to invest in their products and services, they look set to continue their positive trend in the coming quarters. HAGERTY_Reports_Record_Revenue_of_USD_259.5_Million_in_Q2_FY2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hagerty. HAGERTY_Reports_Record_Revenue_of_USD_259.5_Million_in_Q2_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 906.7 | 10.41 | 2.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hagerty. HAGERTY_Reports_Record_Revenue_of_USD_259.5_Million_in_Q2_FY2023″>More…
| Operations | Investing | Financing |
| 65.96 | -69.66 | 73.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hagerty. HAGERTY_Reports_Record_Revenue_of_USD_259.5_Million_in_Q2_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.55k | 1.09k | 0.8 |
Key Ratios Snapshot
Some of the financial key ratios for Hagerty are shown below. HAGERTY_Reports_Record_Revenue_of_USD_259.5_Million_in_Q2_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.8% | – | – |
| FCF Margin | ROE | ROA |
| 3.0% | 4.2% | 0.2% |
Analysis – Hagerty Intrinsic Value Calculator
At GoodWhale, we have conducted an analysis of HAGERTY‘s wellbeing. Our proprietary Valuation Line has calculated the intrinsic value of HAGERTY at around $13.1. This means that the current stock price of $8.5 is undervalued by 35.0%. This presents a great opportunity for investors who are looking to get into HAGERTY at a discounted price. More…
Peers
Hagerty Inc is an insurance company that specializes in classic cars. Its competitors are Progressive Corp, Atlas Financial Holdings Inc, and Mercury General Corp.
– Progressive Corp ($NYSE:PGR)
Progressive Corp is a publicly traded insurance company. The company offers a variety of insurance products, including auto, boat, and motorcycle insurance, as well as property and casualty insurance. Progressive also offers life, health, and pet insurance through its subsidiary, Progressive Direct. The company was founded in 1937 and is headquartered in Mayfield Village, Ohio.
– Atlas Financial Holdings Inc ($NYSE:MCY)
Mercury General Corporation is an insurance holding company that, through its subsidiaries, engages in the insurance business. The company has a market cap of 1.58B as of 2022 and a Return on Equity of -16.66%. The company underwrites personal automobile insurance through a network of independent agents in California, Arizona, Florida, Georgia, Nevada, Oklahoma, New Mexico, and Texas.
Summary
HAGERTY reported very positive financial results for Q2 of FY2023, achieving total revenue of USD 259.5 million, a 29.3% increase from the previous year. Net income for the quarter was USD 2.4 million, which was a 143.3% rise. This impressive financial performance highlights the potential for investing in HAGERTY and reinforces the company’s strong position in its industry. Investors should continue to track HAGERTY’s financials as it will be an important indicator of the company’s future success.
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