PLMR

Palomar HoldingsNasdaqGS:PLMR Stock Report

Market Cap

US$2.2b

7D

-2.7%

1Y

-16.5%

Updated

16 Sep, 2021

Data

Company Financials +
PLMR fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance2/6
Financial Health5/6
Dividends0/6

PLMR Overview

Palomar Holdings, Inc., an insurance holding company, provides specialty property insurance to residential and commercial customers.

Palomar Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Palomar Holdings
Historical stock prices
Current Share PriceUS$86.24
52 Week HighUS$61.01
52 Week LowUS$115.40
Beta-0.28
1 Month Change9.65%
3 Month Change13.35%
1 Year Change-16.48%
3 Year Changen/a
5 Year Changen/a
Change since IPO354.13%

Recent News & Updates

Shareholder Returns

PLMRUS InsuranceUS Market
7D-2.7%-0.7%-0.6%
1Y-16.5%36.2%33.6%

Return vs Industry: PLMR underperformed the US Insurance industry which returned 36.8% over the past year.

Return vs Market: PLMR underperformed the US Market which returned 33.7% over the past year.

Price Volatility

Is PLMR's price volatile compared to industry and market?
PLMR volatility
PLMR Beta-0.28
Industry Beta0.97
Market Beta1

Stable Share Price: PLMR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PLMR's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2013122Mac Armstronghttps://plmr.com

Palomar Holdings, Inc., an insurance holding company, provides specialty property insurance to residential and commercial customers. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate error and omission, and real estate investor products. It markets and distributes its products through retail agents, wholesale brokers, program administrators, and carrier partnerships.

Palomar Holdings Fundamentals Summary

How do Palomar Holdings's earnings and revenue compare to its market cap?
PLMR fundamental statistics
Market CapUS$2.19b
Earnings (TTM)US$11.44m
Revenue (TTM)US$194.25m

191.3x

P/E Ratio

11.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PLMR income statement (TTM)
RevenueUS$194.25m
Cost of RevenueUS$179.77m
Gross ProfitUS$14.49m
ExpensesUS$3.04m
EarningsUS$11.44m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.45
Gross Margin7.46%
Net Profit Margin5.89%
Debt/Equity Ratio0.0%

How did PLMR perform over the long term?

See historical performance and comparison

Valuation

Is Palomar Holdings undervalued compared to its fair value and its price relative to the market?

191.26x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PLMR ($86.24) is trading above our estimate of fair value ($65.41)

Significantly Below Fair Value: PLMR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PLMR is poor value based on its PE Ratio (191.3x) compared to the US Insurance industry average (9.5x).

PE vs Market: PLMR is poor value based on its PE Ratio (191.3x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: PLMR is poor value based on its PEG Ratio (5x)


Price to Book Ratio

PB vs Industry: PLMR is overvalued based on its PB Ratio (5.8x) compared to the US Insurance industry average (1.1x).


Future Growth

How is Palomar Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

38.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLMR's forecast earnings growth (38.4% per year) is above the savings rate (2%).

Earnings vs Market: PLMR's earnings (38.4% per year) are forecast to grow faster than the US market (14.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PLMR's revenue (29.9% per year) is forecast to grow faster than the US market (9.7% per year).

High Growth Revenue: PLMR's revenue (29.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PLMR's Return on Equity is forecast to be low in 3 years time (16.8%).


Past Performance

How has Palomar Holdings performed over the past 5 years?

24.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PLMR has high quality earnings.

Growing Profit Margin: PLMR's current net profit margins (5.9%) are lower than last year (28.8%).


Past Earnings Growth Analysis

Earnings Trend: PLMR's earnings have grown significantly by 24.6% per year over the past 5 years.

Accelerating Growth: PLMR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PLMR had negative earnings growth (-72.8%) over the past year, making it difficult to compare to the Insurance industry average (76%).


Return on Equity

High ROE: PLMR's Return on Equity (3%) is considered low.


Financial Health

How is Palomar Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PLMR's short term assets ($332.6M) do not cover its short term liabilities ($448.5M).

Long Term Liabilities: PLMR's short term assets ($332.6M) exceed its long term liabilities ($4.4M).


Debt to Equity History and Analysis

Debt Level: PLMR is debt free.

Reducing Debt: PLMR had no debt 5 years ago.

Debt Coverage: PLMR has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PLMR has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Palomar Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PLMR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PLMR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PLMR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PLMR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PLMR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Mac Armstrong

7.58yrs

Tenure

US$1,063,612

Compensation

Mr. David McDonald Armstrong, also known as Mac, is a Co-Founder of Palomar Holdings, Inc. and has been its Chief Executive Officer and Director since February 2014. He serves as Chairman of the Board of P...


CEO Compensation Analysis

Compensation vs Market: Mac's total compensation ($USD1.06M) is below average for companies of similar size in the US market ($USD3.66M).

Compensation vs Earnings: Mac's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PLMR's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: PLMR's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Palomar Holdings, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Palomar Holdings, Inc.
  • Ticker: PLMR
  • Exchange: NasdaqGS
  • Founded: 2013
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: US$2.188b
  • Shares outstanding: 25.38m
  • Website: https://plmr.com

Number of Employees


Location

  • Palomar Holdings, Inc.
  • 7979 Ivanhoe Avenue
  • Suite 500
  • La Jolla
  • California
  • 92037
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/16 22:57
End of Day Share Price2021/09/16 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.