Huize Holding Ltd is a US-listed company in the insurance brokers industry. Its financial year ends in December.
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~$1.4
Valuation models combined (2)
Base case. Range ~$1.4–$1.4. Weighted average of 2 models (price-to-earnings vs peers, price-to-book vs peers), the price-to-earnings vs peers counting double.
No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Huize Holding Ltd 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 was $220m, up 26.8% on a year earlier, faster than the 2.7% growth a quarter earlier. That growth ranks 2 of 17 among the insurance brokers companies we cover. Our valuation models combined value is $1.33 a share, against a share price of $2.25.
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.
Huize Holding Ltd's trailing-twelve-month revenue grew 26.8% year on year, with a free-cash-flow margin of 0.6%. Where it stands out: revenue growth of 26.8% ranks 2 of 17 insurance brokers companies we cover.
Current signal Revenue growth accelerating: TTM revenue growth rose to 26.8% (+24.1pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for HUIZ from the sources we follow. See filings →
We value Huize Holding Ltd as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.56 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. | ~$1.4 ~$1.1–$2.5 | Primary model, counts double |
| 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. | ~$1.4 ~$6.2–$26 | 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. | ~$1.4 ~$1.4–$1.4 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Huize Holding Ltd 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 Huize Holding Ltd: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY17 Q4 | $39M |
| FY18 Q4 | $77.1M |
| FY19 Q4 | $143.9M |
| FY20 Q4 | $176.9M |
| FY21 Q4 | $348M |
| FY22 Q4 | $172.4M |
| FY23 Q4 | $169M |
| FY24 Q4 | $173.6M |
| FY25 Q4 | $220.2M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY18 Q4 | 97.8% |
| FY19 Q4 | 86.6% |
| FY20 Q4 | 22.9% |
| FY21 Q4 | 96.8% |
| FY22 Q4 | -50.5% |
| FY23 Q4 | -2.0% |
| FY24 Q4 | 2.7% |
| FY25 Q4 | 26.8% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY17 Q4 | -38.1% |
| FY18 Q4 | 4.9% |
| FY19 Q4 | 0.2% |
| FY20 Q4 | -2.1% |
| FY21 Q4 | -5.1% |
| FY22 Q4 | -3.8% |
| FY23 Q4 | 4.3% |
| FY24 Q4 | -1.7% |
| FY25 Q4 | 0.4% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY17 Q4 | -33.4% |
| FY18 Q4 | 12.9% |
| FY19 Q4 | 11.3% |
| FY20 Q4 | 10.6% |
| FY21 Q4 | -9.5% |
| FY22 Q4 | -8.8% |
| FY23 Q4 | 8.9% |
| FY24 Q4 | -1.9% |
| FY25 Q4 | 0.6% |
| Fiscal year | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||
| Revenue | 39 | 77 | 144 | 177 | 348 | 172 | 169 | 174 | 220 |
| Gross profit | 15 | 29 | 53 | 59 | 86 | 82 | 77 | 63 | 67 |
| EBITDA | −14 | 4 | 1 | −3 | −17 | −4 | 9 | −1 | 3 |
| Operating income | −15 | 4 | 0 | −4 | −18 | −7 | 7 | −3 | 1 |
| Net income | −14 | 0 | 2 | −3 | −17 | −5 | 10 | −0 | 1 |
| Diluted EPS | — | — | — | −$0.29 | −$1.71 | −$0.45 | $0.99 | — | — |
| Growth (year on year) | |||||||||
| Revenue | — | +97.8% | +86.6% | +22.9% | +96.8% | −50.5% | −2.0% | +2.7% | +26.8% |
| EBITDA | — | — | −81.4% | — | — | — | — | −114.4% | — |
| Operating income | — | — | −93.7% | — | — | — | — | −140.4% | — |
| Net income | — | — | — | — | — | — | — | −100.9% | — |
| Margins | |||||||||
| Gross margin | 37.4% | 37.8% | 36.6% | 33.3% | 24.8% | 47.7% | 45.9% | 36.2% | 30.6% |
| EBITDA margin | −36.7% | 5.5% | 0.5% | −1.7% | −4.8% | −2.2% | 5.4% | −0.8% | 1.3% |
| Operating margin | −38.1% | 4.9% | 0.2% | −2.1% | −5.1% | −3.8% | 4.3% | −1.7% | 0.4% |
| Net margin | −36.9% | 0.6% | 1.5% | −1.5% | −4.8% | −2.7% | 5.9% | −0.1% | 0.3% |
| Free-cash-flow margin | −33.4% | 12.9% | 11.3% | 10.6% | −9.5% | −8.8% | 8.9% | −1.9% | 0.6% |
| Cash flow | |||||||||
| Cash from operations | −13 | 10 | 17 | 20 | −27 | −13 | 19 | −3 | 2 |
| Capital spending | 0 | 0 | 1 | 1 | 6 | 3 | 4 | 1 | 1 |
| Free cash flow | −13 | 10 | 16 | 19 | −33 | −15 | 15 | −3 | 1 |
| Stock-based pay | 0 | 0 | 14 | 5 | 2 | 1 | 0 | 1 | 3 |
| Free cash flow after stock pay | −13 | 10 | 2 | 14 | −35 | −16 | 15 | −4 | −1 |
| Balance sheet | |||||||||
| Cash | 6 | 1 | 13 | 62 | 60 | 40 | 35 | 32 | 36 |
| Total debt | 0 | 7 | 6 | 13 | 44 | 25 | 4 | 7 | 9 |
| Net debt (negative = net cash) | −6 | 7 | −6 | −49 | −15 | −16 | −31 | −25 | −27 |
| Diluted shares | 4m | 4m | 5m | 10m | 10m | 10m | 10m | 10m | 10m |
| Returned to shareholders | |||||||||
| Buybacks | — | — | — | 0 | 0 | 1 | 2 | 0 | 0 |
| Total returned | — | — | — | 0 | 0 | 1 | 2 | 0 | 0 |
| Last 12 months unless stated | HUIZ | GSHD | EHTH | RDZN | XHG | CRD.A | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $220m | $402m | $502m | $60m | $51m | $1.3bn | $1.6bn |
| Revenue growth, last 12 months | 26.8% | 17.7% | −8.4% | 30.5% | 26.5% | −3.6% | 7.6% |
| Revenue growth, 3-year average | — | 18.4% | 8.7% | 53.9% | — | −1.0% | 13.8% |
| Revenue growth, latest quarter | — | 20.6% | −44.8% | 49.0% | — | −0.9% | 4.7% |
| Gross margin | 30.6% | — | 44.3% | 60.7% | 2.2% | 28.2% | 44.3% |
| Operating margin | 0.4% | 23.3% | 10.8% | −21.6% | −197.2% | — | 9.4% |
| Operating margin, 3-year average | −14.3% | 18.7% | 4.9% | −100.3% | — | — | 4.9% |
| Net margin | 0.3% | 8.8% | 5.4% | −46.9% | −204.9% | 2.0% | 4.9% |
| Cash from operations / revenue | 1.1% | 21.4% | −6.1% | −37.8% | −3.2% | 6.1% | 15.5% |
| Free-cash-flow margin | 0.6% | 19.8% | −6.3% | −42.5% | −3.2% | 5.5% | 13.4% |
| Free-cash-flow margin, 3-year average | −14.1% | 22.4% | −5.1% | −42.6% | — | 5.0% | 13.7% |
| Stock pay / revenue | 1.2% | 5.5% | 2.4% | 0.8% | 0.9% | 0.2% | 1.4% |
| Change in share count | 1.2% | 13.8% | 4.1% | 11.5% | >999% | 3.1% | 5.7% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 26.8% | 7.6% | 2 of 17 |
| Change in growth rate Growth | +24.1pp | -0.7pp | 2 of 17 |
| Operating margin Profitability | 0.4% | 10.8% | 10 of 14 |
| Net margin Profitability | 0.3% | 4.9% | 13 of 17 |
| Stock pay as % of revenue Cash generation | 1.2% | 1.5% | 6 of 16 |
| Change in share count Balance sheet | 1.2% | 7.4% | 4 of 12 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Smartharvest Portfolios, LLC | $16,395 | 15K | 50.0% | New |
| Two Sigma Investments, LP | $14,464 | 13K | 44.1% | ▼ 44.1% |
| UBS Group AG | $1,051 | 1K | 3.2% | ▲ 148.6% |
| Sbi Securities Co., Ltd. | $365 | 0K | 1.1% | 0.0% |
| Morgan Stanley | $355 | 0K | 1.1% | ▼ 89.0% |
| Rhumbline Advisers | $166 | 0K | 0.5% | 0.0% |
| Caitong International Asset Management Co., Ltd | $1 | 0K | 0.0% | New |
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 Huize Holding Ltd's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Ma Cunjun Chief Executive Officer | April 16, 2026 | Buy | 10,000 | $1.69 | $16,900 |
| Ma Cunjun Chief Executive Officer | April 10, 2026 | Buy | 5,000 | $1.50 | $7,500 |
| Ma Cunjun Chief Executive Officer | April 9, 2026 | Buy | 100 | $1.45 | $145 |
| Ma Cunjun Chief Executive Officer | April 8, 2026 | Buy | 339 | $1.42 | $481 |
| Ma Cunjun Chief Executive Officer | April 3, 2026 | Buy | 179 | $1.39 | $249 |
| Ma Cunjun Chief Executive Officer | April 3, 2026 | Buy | 179 | $1.39 | $249 |
| Ma Cunjun Chief Executive Officer | April 2, 2026 | Buy | 6,000 | $1.42 | $8,520 |
| Ma Cunjun Chief Executive Officer | April 2, 2026 | Buy | 6,000 | $1.42 | $8,520 |
| Ma Cunjun Chief Executive Officer | April 1, 2026 | Buy | 7,839,032 | $0.01 | $78,390 |
| Ma Cunjun Chief Executive Officer | April 1, 2026 | Buy | 7,839,032 | $0.01 | $78,390 |
| Ma Cunjun Chief Executive Officer | March 30, 2026 | Buy | 2,000 | $1.42 | $2,840 |
| Ma Cunjun Chief Executive Officer | March 30, 2026 | Buy | 1,000 | $1.39 | $1,390 |
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.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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