Reliance Global Group, Inc. is a US-listed company in the insurance brokers industry. Its financial year ends in December.
Loading chart…
Third-party market data · may be delayed
~$2.0
Price-to-book vs peers
Base case. Range ~$2.0–$36. Book value per share times peers' typical (harmonic-mean) price-to-book.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Reliance Global Group, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $11m, down 21.4% on a year earlier, a steeper fall than the 15.4% decline a quarter earlier. That puts it 15 of 15 for growth among the insurance brokers companies we cover. Our price-to-book vs peers value is $3.55 a share, against a share price of $2.18.
Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Reliance Global Group, Inc.'s trailing-twelve-month revenue fell 21.4% year on year, with a free-cash-flow margin of -42.3%. Where it lags: revenue growth of -21.4% ranks 17 of 17 insurance brokers companies we cover.
Current signal Net income rising while operating cash flow falls: TTM net income grew 10.2% while operating cash flow fell 104.9% — earnings and cash are telling different stories.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Reliance Global Group, Inc.'s latest figures clears our strength thresholds.
Loading chart…
Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Reliance Global Group, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.65 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$2.0 ~$9.1–$36 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$2.0 ~$2.0–$36 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Reliance Global Group, Inc. with insurance brokers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
No analyst estimates are published for Reliance Global Group, Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Mar 2023 | −$571.20 | −$782.00 | −36.9% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|
| Return | |||||
| EZRA | −91% | −94% | −72% | −80% | −89% |
| Industry peers (median) | −21% | +21% | +27% | −19% | −1% |
| S&P 500 | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | |||||
| EZRA | 8% | 42% | 25% | 25% | 27% |
| S&P 500 | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | |||||
| EZRA | −94% | −96% | −88% | −83% | −93% |
| S&P 500 | −25% | −10% | −8% | −19% | −9% |
Worst fall since February 9, 2021: 100% from January 4, 2022 to July 29, 2026. Getting back needed a 5151413% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 4, 2026 | −10.2% | +1.6% | −10.9% | +3.0% |
| May 14, 2025 | −8.1% | +0.6% | −6.5% | −1.5% |
| March 6, 2025 | −2.0% | −1.2% | −11.6% | −21.8% |
| November 7, 2024 | −11.5% | +1.2% | −27.1% | −25.7% |
| July 25, 2024 | −3.1% | +0.6% | −11.3% | −25.8% |
| May 20, 2024 | −5.8% | +0.4% | −19.5% | +93.0% |
| April 4, 2024 | +31.1% | −0.2% | −7.0% | −31.9% |
| November 13, 2023 | −5.1% | +1.8% | −23.2% | −46.2% |
| August 10, 2023 | −8.4% | 0.0% | −19.0% | −24.9% |
| May 18, 2023 | −0.2% | +0.8% | +15.3% | +11.6% |
| March 30, 2023 | +2.4% | +2.0% | −6.8% | +3.1% |
| March 16, 2023 | −32.1% | +0.6% | −39.3% | −21.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $13.4M |
| FY23 Q4 | $13.7M |
| FY24 Q1 | $13.9M |
| FY24 Q2 | $13.9M |
| FY24 Q3 | $14.1M |
| FY24 Q4 | $14.1M |
| FY25 Q1 | $14.2M |
| FY25 Q2 | $14.1M |
| FY25 Q3 | $13.1M |
| FY25 Q4 | $12.4M |
| FY26 Q1 | $12M |
| FY26 Q2 | $11M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | 7.4% |
| FY23 Q4 | 6.1% |
| FY24 Q1 | 9.8% |
| FY24 Q2 | 7.1% |
| FY24 Q3 | 4.7% |
| FY24 Q4 | 2.3% |
| FY25 Q1 | 2.4% |
| FY25 Q2 | 1.1% |
| FY25 Q3 | -6.8% |
| FY25 Q4 | -11.6% |
| FY26 Q1 | -15.4% |
| FY26 Q2 | -21.4% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -40.3% |
| FY23 Q4 | -101.1% |
| FY24 Q1 | -129.0% |
| FY24 Q2 | -123.7% |
| FY24 Q3 | -115.7% |
| FY24 Q4 | -54.8% |
| FY25 Q1 | -28.7% |
| FY25 Q2 | -37.7% |
| FY25 Q3 | -66.3% |
| FY25 Q4 | -72.5% |
| FY26 Q1 | -73.6% |
| FY26 Q2 | -75.1% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | -7.8% |
| FY23 Q4 | -6.3% |
| FY24 Q1 | -0.1% |
| FY24 Q2 | 1.8% |
| FY24 Q3 | -17.8% |
| FY24 Q4 | -18.1% |
| FY25 Q1 | -15.0% |
| FY25 Q2 | -16.3% |
| FY25 Q3 | -18.0% |
| FY25 Q4 | -25.0% |
| FY26 Q1 | -32.1% |
| FY26 Q2 | -42.3% |
| Fiscal year | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 4 | 7 | 10 | 12 | 14 | 14 | 12 | 11 |
| EBITDA | −2 | −2 | −1 | −4 | −11 | −6 | −8 | −7 |
| Operating income | −3 | −4 | −3 | −7 | −14 | −8 | −9 | −8 |
| Net income | −3 | −4 | −21 | 6 | −12 | −9 | −7 | −6 |
| Diluted EPS | −$308.55 | −$0.88 | −$2.09 | −$7.14 | −$87.70 | −$9.01 | −$1.28 | — |
| Growth (year on year) | ||||||||
| Revenue | — | +64.0% | +33.1% | +21.1% | +16.7% | +2.3% | −11.6% | −21.4% |
| Net income | — | — | — | — | −285.7% | — | — | — |
| Margins | ||||||||
| EBITDA margin | −53.4% | −31.5% | −13.4% | −34.2% | −82.1% | −42.0% | −61.8% | −64.4% |
| Operating margin | −69.7% | −49.7% | −30.0% | −55.9% | −101.1% | −54.8% | −72.5% | −75.1% |
| Net margin | −78.5% | −50.4% | −217.3% | 55.0% | −87.5% | −64.5% | −56.2% | −54.3% |
| Free-cash-flow margin | −21.0% | — | −23.9% | −27.6% | −6.3% | −18.1% | −25.0% | −42.3% |
| Cash flow | ||||||||
| Cash from operations | −0 | −0 | −2 | −3 | −1 | −3 | −3 | −5 |
| Capital spending | 1 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −1 | — | −2 | −3 | −1 | −3 | −3 | −5 |
| Stock-based pay | 1 | 1 | 1 | 1 | 1 | 1 | 5 | 3 |
| Free cash flow after stock pay | −2 | — | −3 | −5 | −2 | −3 | −8 | −8 |
| Balance sheet | ||||||||
| Cash | — | 1 | — | — | — | — | — | 2 |
| Total debt | 9 | 9 | 8 | 14 | 13 | 11 | 5 | 4 |
| Net debt (negative = net cash) | — | 8 | — | — | — | — | — | 3 |
| Diluted shares | — | — | — | — | — | 1m | 5m | — |
| Returned to shareholders | ||||||||
| Dividends | — | — | — | — | — | — | 0 | — |
| Total returned | — | — | — | — | — | — | 0 | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 3,441 | 3,297 | 4,236 | 3,087 | 2,496 | 2,612 | 3,827 | 2,111 |
| EBITDA | −90 | −645 | −1,047 | −2,026 | −3,600 | −1,009 | −935 | −1,571 |
| Operating income | −512 | −1,005 | −1,407 | −2,372 | −3,914 | −1,320 | −1,240 | −1,824 |
| Net income | −837 | −1,398 | −1,737 | −2,711 | −1,157 | −1,383 | −1,471 | −1,991 |
| Diluted EPS | −$26.80 | $1.55 | −$26.40 | −$33.90 | −$8.00 | $0.16 | −$3.60 | −$3.26 |
| Growth (year on year) | ||||||||
| Revenue | +5.1% | −0.7% | +3.8% | −4.5% | −27.5% | −20.8% | −9.7% | −31.6% |
| Margins | ||||||||
| EBITDA margin | −2.6% | −19.6% | −24.7% | −65.6% | −144.2% | −38.6% | −24.4% | −74.4% |
| Operating margin | −14.9% | −30.5% | −33.2% | −76.8% | −156.8% | −50.5% | −32.4% | −86.4% |
| Net margin | −24.3% | −42.4% | −41.0% | −87.8% | −46.3% | −53.0% | −38.4% | −94.3% |
| Free-cash-flow margin | −22.1% | −26.5% | 4.5% | −27.8% | −32.9% | −62.2% | — | −78.7% |
| Cash flow | ||||||||
| Cash from operations | −758 | −867 | 198 | −853 | −814 | −1,625 | −571 | −1,660 |
| Capital spending | 4 | 5 | 5 | 4 | 6 | 0 | — | 0 |
| Free cash flow | −762 | −872 | 193 | −857 | −821 | −1,625 | — | −1,660 |
| Stock-based pay | 13 | 257 | 975 | 877 | 2,741 | 234 | 16 | 16 |
| Free cash flow after stock pay | −775 | −1,129 | −782 | −1,734 | −3,562 | −1,860 | — | −1,676 |
| Last 12 months unless stated | EZRA | XHG | RDZN | HUIZ | GSHD | EHTH | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $11m | $51m | $60m | $220m | $402m | $502m | $1.6bn |
| Revenue growth, last 12 months | −21.4% | 26.5% | 30.5% | 26.8% | 17.7% | −8.4% | 7.6% |
| Revenue growth, 3-year average | −5.3% | — | 53.9% | — | 18.4% | 8.7% | 13.8% |
| Revenue growth, latest quarter | −31.6% | — | 49.0% | — | 20.6% | −44.8% | 4.7% |
| Gross margin | — | 2.2% | 60.7% | 30.6% | — | 44.3% | 44.3% |
| Operating margin | −75.1% | −197.2% | −21.6% | 0.4% | 23.3% | 10.8% | 9.4% |
| Operating margin, 3-year average | −78.8% | — | −100.3% | −14.3% | 18.7% | 4.9% | 4.9% |
| Net margin | −54.3% | −204.9% | −46.9% | 0.3% | 8.8% | 5.4% | 4.9% |
| Cash from operations / revenue | −42.3% | −3.2% | −37.8% | 1.1% | 21.4% | −6.1% | 15.5% |
| Free-cash-flow margin | −42.3% | −3.2% | −42.5% | 0.6% | 19.8% | −6.3% | 13.4% |
| Free-cash-flow margin, 3-year average | −19.0% | — | −42.6% | −14.1% | 22.4% | −5.1% | 13.7% |
| Stock pay / revenue | 27.2% | 0.9% | 0.8% | 1.2% | 5.5% | 2.4% | 1.4% |
| Change in share count | 91.2% | >999% | 11.5% | 1.2% | 13.8% | 4.1% | 5.7% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -21.4% | 7.6% | 17 of 17 |
| Change in growth rate Growth | -6.1pp | -0.7pp | 15 of 17 |
| Operating margin Profitability | -75.1% | 10.8% | 13 of 14 |
| Net margin Profitability | -54.3% | 4.9% | 16 of 17 |
| Stock pay as % of revenue Cash generation | 27.2% | 1.5% | 16 of 16 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| UBS Group AG | $61,838 | 19K | 54.1% | — |
| Citigroup Inc | $17,115 | 5K | 15.0% | — |
| Morgan Stanley | $16,682 | 5K | 14.6% | — |
| Blackrock, Inc. | $10,624 | 3K | 9.3% | — |
| Vanguard Fiduciary Trust Co | $6,630 | 2K | 5.8% | — |
| Tower Research Capital LLC (TRC) | $1,358 | 0K | 1.2% | — |
| Wells Fargo & Company | $20 | 0K | 0.0% | — |
| Sbi Securities Co., Ltd. | $13 | 0K | 0.0% | — |
| Stonehage Fleming Financial Services Holdings Ltd | $9 | 0K | 0.0% | — |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Reliance Global Group, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Fruchtzweig Ben Director | August 3, 2026 | Sell | 7,448 | $4.08 | $30,388 |
| Beyman Yaakov Exec VP, Insurance Division | August 3, 2026 | Sell | 8,120 | $3.90 | $31,668 |
| Beyman Yaakov Exec VP, Insurance Division | August 3, 2026 | Sell | 1,000 | $3.31 | $3,310 |
| Blumenfrucht Alex Director | August 3, 2026 | Sell | 8,830 | $3.97 | $35,055 |
| Markovits Joel Chief Financial Officer | August 3, 2026 | Sell | 9,329 | $2.55 | $23,789 |
| Beyman Ezra Chairman and CEO | March 26, 2026 | Buy | 300,000 | $0.17 | $51,000 |
| Markovits Joel Chief Financial Officer | March 24, 2026 | Sell | 127,562 | $0.21 | $26,788 |
| Markovits Joel Chief Financial Officer | November 26, 2025 | Sell | 25,000 | $0.66 | $16,500 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
New research on the companies we cover arrives in the weekly email. Free, one email a week.
