Hagerty, Inc. (HGTY) intrinsic value & 10-year financials
Hagerty, Inc. (HGTY) has a Graham intrinsic value of $4.10 per share. At $15.30 on Oct 17, 2026, the stock trades 273% above that value. Over the last 7 fiscal years revenue grew 19.4% a year to $677.6M, with an average return on invested capital of 25.4%.
- Graham intrinsic value
- $4.10
- Share price (Oct 17, 2026)
- $15.30
- Price vs Graham value
- 273% above
- Market cap
- $18.5B
- Revenue (FY2025)
- $677.6M
- Revenue growth (7-yr CAGR)
- 19.4%
- ROIC (10-yr avg)
- 25.4%
- Free cash flow (FY2025)
- $194.5M
HGTY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $677.6M | $149.2M | — | $194.5M | — | 68.7% |
| FY2024 | $548.8M | $78.3M | — | $155.7M | 12.1% | 30.5% |
| FY2023 | $468.3M | $28.2M | — | $107.3M | 2.2% | 4.1% |
| FY2022 | $384.5M | $32.1M | — | $11.0M | -17.6% | 35.8% |
| FY2021 | $323.3M | -$46.4M | -$0.56 | -$1.1M | -3.1% | 6.4% |
| FY2020 | $279.0M | $10.2M | $0.12 | $46.3M | 5.7% | 7.2% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Hagerty, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Hagerty, Inc. has earned high returns on invested capital, averaging 25.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Hagerty, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Hagerty, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.10 per share.