Accelerant vs Hagerty
Hagerty is the larger business, with $1.46bn of revenue in fiscal 2025 against $913m for Accelerant (1.6 times as much). Accelerant grew faster (51.5% against 17.3%). Hagerty kept more of each dollar of sales as profit: a net margin of 10.2% against -156.1%. Accelerant carries less debt relative to equity (17.4% against 80.6%).
| Latest fiscal year | AccelerantARX, 2025 | HagertyHGTY, 2025 |
|---|---|---|
| Revenue | $913m | $1.46bn |
| Revenue growth | 51.5% | 17.3% |
| Net income | −$1.43bn | $149m |
| Operating margin | — | — |
| Net margin | -156.1% | 10.2% |
| Return on equity | — | 80.3% |
| Free cash flow | — | $194m |
| Cash | $1.72bn | $160m |
| Total debt | $121m | $178m |
| Debt to equity | 17.4% | 80.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 1,891 |
| Market value | $4.35bn | $5.51bn |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 6 buys, 25 sales | 3 buys, 14 sales |