I3 Verticals vs Exzeo Group
I3 Verticals and Exzeo Group are similar in size: $213m and $217m of revenue in their latest fiscal years. Exzeo Group grew faster (62.0% against 11.5%). Exzeo Group kept more of each dollar of sales as profit: a net margin of 38.1% against 8.4%.
| Latest fiscal year | I3 VerticalsIIIV, 2025 | Exzeo GroupXZO, 2025 |
|---|---|---|
| Revenue | $213m | $217m |
| Revenue growth | 11.5% | 62.0% |
| Net income | $17.9m | $82.7m |
| Operating margin | — | 48.8% |
| Net margin | 8.4% | 38.1% |
| Return on equity | 4.6% | 61.4% |
| Free cash flow | $3.8m | $97.5m |
| Cash | $66.7m | $305m |
| Total debt | $0 | $0 |
| Debt to equity | — | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $37.6m | $1.5m |
| Employees | 1,202 | — |
| Market value | $355m | $1.58bn |
| Price vs our value range | — | Below our value range |
| Moat score | 42 (Weak) | — |
| Insider trades, 12 months | 1 buys, 4 sales | 73 buys, 0 sales |