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Neptune Insurance Holdings Inc. (NP) stock

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NYSE: NP NYSE Insurance Brokers Next results ~January 26, 2027

Neptune Insurance Holdings Inc. is a US-listed company in the insurance brokers industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$12

Forward price-to-earnings vs peers

Base case. Range ~$11–$14. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Neptune Insurance Holdings Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 6 selling2 purchases and 16 sales by directors and officers, last 12 monthsInsider trades
  • Funds104 adding, 36 cuttingOf 41 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Neptune Insurance files

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.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Current signal Operating margin compressing: TTM operating margin fell to 41.3%, down 10.3pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 33.8% over the last 12 months.
  • High operating margin. 41.3% of revenue is left as operating profit.

Things to watch

  • Margins narrowing. Operating margin is down 10.3 points on a year ago.
  • Heavy stock-based pay. Stock pay equals 16.2% of revenue: a real cost that cash-flow figures leave out.
  • High earnings multiple. The shares trade at 95 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 0.1 against the S&P 500.
  • Short interest rising. Shares sold short rose 28% in a month to 8.2% of tradable shares.

Latest results: FY2026 Q3

Filed October 22, 2026
Earnings per share
$0.17 against an average estimate of $0.16: beat by 7.2%
Revenue
$60m, up 34.3% on a year earlier
Share reaction
-3.1% in the first session after the results on October 20, 2026, against +0.9% for the S&P 500
Next report
October 20, 2026; average EPS estimate $0.15

Neptune Insurance's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.6%
  • 1 week+3.5%
  • 1 month+7.0%
  • This year+0.7%
  • 1 year+14.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$197M
Operating margin
41.3%
Net margin
22.7%
EPS (TTM, diluted)
$0.31

Growth

Revenue growth
+33.8%
Change in growth rate
+0.8 pts

Earnings

Last results
October 20, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Leadership
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Insider trade
  10. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Neptune Insurance Holdings Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Neptune Insurance Holdings Inc. 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.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$12 ~$11–$14 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: book value or earnings not available
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. — Does not apply: no positive book value in the latest twelve months
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 (forward 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. ~$12 ~$11–$14 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Neptune Insurance Holdings 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.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.56 +36% $206m +29%
Next $0.67 +21% $243m +18%

Next year's EPS estimate has moved +1.1% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.1% on 90 days ago. In the last 30 days, 1 analyst raised Neptune Insurance Holdings Inc.'s forecast and 1 cut it.

Consensus EPS forecast Neptune Insurance Holdings Inc., last 90 days
$0.50 $0.55 $0.60 $0.65 $0.70 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.55 Current fiscal year, 60 days ago: $0.55 Current fiscal year, 30 days ago: $0.55 Current fiscal year, 7 days ago: $0.55 Current fiscal year, Now: $0.56 $0.56 Next fiscal year, 90 days ago: $0.67 Next fiscal year, 60 days ago: $0.67 Next fiscal year, 30 days ago: $0.67 Next fiscal year, 7 days ago: $0.67 Next fiscal year, Now: $0.67 $0.67

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.55$0.67
60 days ago $0.55$0.67
30 days ago $0.55$0.67
7 days ago $0.55$0.67
Now $0.56$0.67

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.16 $0.17 +7.2%
Jun 2026 $0.14 $0.15 +4.4%
Mar 2026 $0.10 $0.09 −6.4%
Dec 2025 $0.10 $0.10 +1.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

13 analysts, Oct 2026
Buy862%
Hold538%
Sell00%

Monthly trend

  1. Oct 202635513
  2. Sep 202635513
  3. Aug 202635513
  4. Jul 202625613

Counts of recommendations published by analysts covering Neptune Insurance Holdings Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
4.06
at average volume
Short interest, 1 month
+28%
to October 15, 2026
Held by institutions
70%
of shares
Held by insiders
22.1%
of shares
Employees
62
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 2026 to date
Return
NP+1%
Industry peers (median)−2%
S&P 500+11%
Months that ended higher
NP73%
S&P 50046%
Largest fall from a high during the year
NP−41%
S&P 500−9%

Worst fall since October 1, 2025: 44% from December 24, 2025 to February 12, 2026. Getting back needed a 78% gain, reached on May 11, 2026, 88 days after the low.

Price behaviour

52-week range
$17.14 – $35.11
From 52-week high
−16.4%
vs 50-day average
−1.8%
vs 200-day average
+6.9%
Volatility (1 year)
61%
Beta vs S&P 500
0.11

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
1 up, 3 down
typical move ±3.5%
After a week
2 up, 2 down
typical move ±6.7%
After a month
2 up, 1 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 20, 2026 −3.1% +0.9% +0.6% —
April 22, 2026 −2.4% +0.6% −7.0% −2.1%
February 18, 2026 +5.4% +0.2% +9.8% +14.3%
November 12, 2025 −3.0% −1.6% −9.4% +8.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Neptune Insurance Holdings Inc.
$120M $140M $160M $180M $200M FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 FY26 Q3 Revenue (TTM), FY25 Q2: $136.7M Revenue (TTM), FY25 Q3: $147.3M Revenue (TTM), FY25 Q4: $159.6M Revenue (TTM), FY26 Q1: $168M Revenue (TTM), FY26 Q2: $181.8M Revenue (TTM), FY26 Q3: $197M $197M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY25 Q2 $136.7M
FY25 Q3 $147.3M
FY25 Q4 $159.6M
FY26 Q1 $168M
FY26 Q2 $181.8M
FY26 Q3 $197M
Operating margin (TTM) Neptune Insurance Holdings Inc.
40% 45% 50% 55% FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 FY26 Q3 Operating margin (TTM), FY25 Q2: 54.9% Operating margin (TTM), FY25 Q3: 51.6% Operating margin (TTM), FY25 Q4: 44.5% Operating margin (TTM), FY26 Q1: 40.9% Operating margin (TTM), FY26 Q2: 40.7% Operating margin (TTM), FY26 Q3: 41.3% 41.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY25 Q2 54.9%
FY25 Q3 51.6%
FY25 Q4 44.5%
FY26 Q1 40.9%
FY26 Q2 40.7%
FY26 Q3 41.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 85 119 160 197
Operating income 45 68 71 81
Net income 18 35 37 45
Diluted EPS $0.10 $0.16 −$0.26 $0.31
Growth (year on year)
Revenue — +40.6% +33.7% +33.8%
Operating income — +50.7% +3.7% +7.0%
Net income — +93.4% +8.2% +0.1%
Diluted EPS — +60.0% −262.5% —
Margins
Operating margin 53.5% 57.4% 44.5% 41.3%
Net margin 21.1% 29.0% 23.4% 22.7%
Cash flow
Cash from operations 19 50 52 82
Stock-based pay 0 0 11 32
Balance sheet
Cash 24 7 8 17
Total debt 0 135 240 215
Net debt (negative = net cash) −24 128 232 198
Diluted shares 94m 93m 105m 143m
Returned to shareholders
Dividends 339 0 175 —
Buybacks 10 0 0 —
Total returned 349 0 175 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$10M

Competitors: side by side with peers

Closest by revenue in insurance brokers
Last 12 months unless stated NP HUIZ GSHD EHTH RDZN XHG Median
Revenue, last 12 months $197m $220m $402m $502m $60m $51m $1.5bn
Revenue growth, last 12 months 33.8% 26.8% 17.7% −8.4% 30.5% 26.5% 8.7%
Revenue growth, 3-year average — — 18.4% 8.7% 53.9% — 13.8%
Revenue growth, latest quarter 34.3% — 20.6% −44.8% 49.0% — 6.0%
Gross margin — 30.6% — 44.3% 60.7% 2.2% 44.3%
Operating margin 41.3% 0.4% 23.3% 10.8% −21.6% −197.2% 10.8%
Operating margin, 3-year average — −14.3% 18.7% 4.9% −100.3% — 4.9%
Net margin 22.7% 0.3% 8.8% 5.4% −46.9% −204.9% 5.1%
Cash from operations / revenue 41.6% 1.1% 21.4% −6.1% −37.8% −3.2% 15.6%
Free-cash-flow margin — 0.6% 19.8% −6.3% −42.5% −3.2% 13.4%
Free-cash-flow margin, 3-year average — −14.1% 22.4% −5.1% −42.6% — 13.7%
Stock pay / revenue 16.2% 1.2% 5.5% 2.4% 0.8% 0.9% 1.5%
Change in share count — 1.2% 13.8% 4.1% 11.5% >999% 5.7%

Median of all 18 companies we cover in insurance brokers. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Commission Income $122M 76.5% ▲ 35.4%
Fee Income $37.5M 23.5% ▲ 28.6%

From Neptune Insurance Holdings Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.1B
Institutions reporting
136
Shares held vs prior quarter
▲ 3.0%
Positions opened / closed
50 / 12

Top buyers and sellers, Q2 2026: 104 institutions bought and 36 sold ; the biggest buyer was Blackrock, Inc (+2.3M shares) and the biggest seller Ftv Management Company, L.P (−6.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Ftv Management Company, L.P. $514M 16.3M 24.5% ▼ 27.0%
Bregal Sagemount Iv General Partner Jersey Ltd $449M 14.3M 21.4% ▼ 27.0%
T. Rowe Price Investment Management, Inc. $182M 5.8M 8.7% ▲ 21.6%
Blackrock, Inc. $85.2M 2.7M 4.1% ▲ 611.4%
Vanguard Portfolio Management LLC $48.7M 1.5M 2.3% ▲ 116.8%
Azora Capital LP $46.2M 1.5M 2.2% ▲ 53.8%
Vanguard Capital Management LLC $44.1M 1.4M 2.1% ▲ 70.8%
Jpmorgan Chase & Co $41.1M 1.3M 2.0% ▼ 9.0%
Driehaus Capital Management LLC $40.9M 1.3M 1.9% New
Alliancebernstein L.P. $37.8M 1.6M 1.8% ▲ 33.5%
Woodline Partners LP $37.1M 1.2M 1.8% ▲ 20.5%
Capital World Investors $35.6M 1.1M 1.7% ▲ 2.8%

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 Neptune Insurance Holdings Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.4M 2 trades by 2 insiders, last 12 months Insider sales History → $427M 16 trades by 6 insiders · 1% under pre-set plans
Net ▼ $426M net selling
Insider Date Trade Shares Price Value
Duffy Matthew Paul President & Chief Risk Officer October 8, 2026 Sell pre-set plan 30,802 $28.47 $876,841
Duffy Matthew Paul President & Chief Risk Officer October 8, 2026 Sell pre-set plan 53,639 $27.88 $1.5M
Duffy Matthew Paul President & Chief Risk Officer October 6, 2026 Sell pre-set plan 41,392 $27.15 $1.1M
Duffy Matthew Paul President & Chief Risk Officer October 2, 2026 Sell pre-set plan 1,200 $28.48 $34,176
Duffy Matthew Paul President & Chief Risk Officer October 2, 2026 Sell pre-set plan 38,537 $27.65 $1.1M
Carlon Jonathan Winant Director September 14, 2026 Sell 50,000 $31.15 $1.6M
Steiner James Chief Financial Officer August 13, 2026 Sell 57,012 $31.71 $1.8M
Steiner James Chief Financial Officer August 13, 2026 Sell 57,012 $31.71 $1.8M
Steiner James Chief Financial Officer August 12, 2026 Sell 42,988 $31.08 $1.3M
Steiner James Chief Financial Officer August 12, 2026 Sell 42,988 $31.08 $1.3M
Growth Vii-Centre, L.P. 10% owner July 29, 2026 Sell 1,867,840 $33.22 $62M
Bregal Sagemount Management Lp 10% owner July 29, 2026 Sell 1,632,160 $33.22 $54.2M

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.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 20, 2026
  • April 22, 2026
  • February 18, 2026
  • November 12, 2025

Recent SEC filings

Data status

When each part of this page on Neptune Insurance Holdings Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Neptune Insurance Holdings Inc. in brief

What does Neptune Insurance Holdings Inc. do?
Neptune Insurance Holdings Inc. is a US-listed company in the insurance brokers industry. Its financial year ends in December.
What is Neptune Insurance Holdings Inc.'s stock ticker?
Neptune Insurance Holdings Inc. trades under the ticker NP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Neptune Insurance Holdings Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Neptune Insurance Holdings Inc. reported revenue of $197M, 33.8% higher than a year earlier, according to its SEC filings.
Who are Neptune Insurance Holdings Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Ftv Management Company, L.P., Bregal Sagemount Iv General Partner Jersey Ltd and T. Rowe Price Investment Management, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Neptune Insurance Holdings Inc.'s market cap?
On November 2, 2026, Neptune Insurance Holdings Inc.'s market capitalisation was about $4.2B, with a price-to-earnings ratio of 93.9 and net debt of $198M. Market figures come from third-party market data and may be delayed.
Who are Neptune Insurance Holdings Inc.'s competitors?
In our Insurance Brokers peer group, the companies closest to Neptune Insurance Holdings Inc. are Huize Holding Ltd, Goosehead Insurance, Inc., Ehealth, Inc., Roadzen Inc. and Xchange Tec.inc. The side-by-side comparison below sets their revenue, margins and growth against Neptune Insurance Holdings Inc.'s.
Are insiders buying or selling Neptune Insurance Holdings Inc. stock?
Over the last 12 months, Neptune Insurance Holdings Inc.'s directors and officers reported 2 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is Neptune Insurance Holdings Inc.'s next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Neptune Insurance Holdings Inc. announces its own schedule.