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Sells specialty insurance and membership services for classic-car and collector-vehicle owners.
Sells specialty insurance and membership services for classic-car and collector-vehicle owners.
Most income is commission and fee revenue from placing classic-car policies with insurers such as Markel, which carry the underwriting risk, while Hagerty keeps the customer relationship and, through its own reinsurance arm, a growing share of the risk. Membership fees and events add smaller streams. It went public by merging with a blank-check company in 2021.
Moat: narrow (brand, data, distribution). A trusted collector-car brand plus proprietary valuation data are hard for generalist insurers to replicate.
Headquarters: Traverse City, Michigan, US · Founded: 1984 · Employees: 1,891
Size Hagerty (HGTY) is a United States Financials company (Property/Casualty Insurance) with a market value of $6.18B, the 1044th largest of 3,117 United States companies the cockpit tracks. Shares closed at $17.97 on 6 Nov 2026.
Performance Over six months the shares gained 78.6%, against +17.3% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 1.3% over the last twelve months (peer median +5.2%); the operating margin is 4.8% (peer median 17.5%).
Valuation It trades at 8.42× book value against a peer median of 2.14× (most expensive of 21).
Price implies The share price implies a return on equity of about 53.7%; Hagerty delivers 4.6%, so the price asks more than the business earns today.
Short interest Short interest is 1.5% of the free float (15 Oct 2026).
Next results Next results expected around 16 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.38B | $1.46B | $1.23B | $1.01B | $829M |
| Revenue growth | — | +18% | +22% | +22% | — |
| Net income | $14.8M | $49.0M | $17.0M | $20.2M | $32.1M |
| Free cash flow | $280M | $194M | $156M | $119M | $11.0M |
| Capital expenditure | $29.6M | $24.5M | $21.3M | $26.4M | $44.4M |
| Total debt | $290M | $233M | $106M | $188M | $197M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Hagerty HGTY | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% |
| Chubb CB | $139B | +15% | +6% | 15% | 1.91× | 9.4% |
| Hiscox HSX.L | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HGTY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +26.6% | +9.0% | highest of 21 |
| 6-month return | +78.6% | +17.3% | highest of 21 |
| Return on equity | 4.6% | 18.5% | 2nd lowest of 21 |
| Price / book | 8.42× | 2.14× | most expensive of 21 |
| Trailing P/E | 291.7× | 12.3× | most expensive of 19 |
| ROE the price implies | 53.7% | 12.1% | most demanding of 21 |
| ROE delivered | 4.6% | 18.8% | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |
| Protector Forsikring PROT.OL | Norway | $4.19B | +4% | +12% | 35% | 5.34× | 18.1% | 35.2% |
| Palomar PLMR | United States | $4.10B | +37% | +60% | 22% | 4.16× | 17.0% | 22.2% |
| SiriusPoint SPNT | United States | $3.06B | +12% | +23% | 23% | 1.34× | 9.5% | 23.1% |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| NMI NMIH | United States | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% | 15.4% |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| Zenkoku Hosho 7164.T | Japan | $2.69B | +1% | +2% | 14% | 1.74× | 6.2% | 14.1% |
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
| Admiral ADM.L | United Kingdom | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% | 45.6% |
| HCI HCI | United States | $2.31B | +22% | +23% | 34% | 2.15× | 17.3% | 33.8% |