HCI Group (HCI) FY2024 results: revenue $750 million, up 36.2% on the year

HCI Group, Inc. (HCI) reported revenue of $750 million for fiscal 2024, the year ended 31 December 2024, up 36.2% on the year before. Net income was $110 million, up 39.1%, and diluted earnings per share $8.89. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$750 million

+36.2% on the year

FY2017FY2024

Operating margin

23.1%

21.4% a year earlier

FY2017FY2024

Net income

$110 million

+39.1% on the year

FY2017FY2024

Diluted EPS

$8.89

+16.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	750	551	500	+36.2%
Operating income	173	118	-68.4	+47.4%
Operating margin	23.1%	21.4%	-13.7%
Interest expense	0.0	0.1	7.8	-98.7%
Pre-tax income	173	118	-68.4	+47.4%
Income tax	45.8	28.4	-13.8	+61.5%
Effective tax rate	26.4%	24.1%	n/a
Net income	110	79.0	-58.5	+39.1%
Net margin	14.7%	14.4%	-11.7%
Diluted EPS	$8.89	$7.62	-$6.24	+16.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	332	231	-0.0	+43.9%
Capital expenditure	4.1	6.5	6.3	-37.7%
Free cash flow	328	224	-6.4	+46.2%
Free cash flow margin	43.7%	40.7%	-1.3%
Cash from investing	-260	4.3	-435
Cash from financing	-75.2	67.1	41.1
Depreciation and amortisation	6.2	5.7	4.8	+8.1%
Share-based compensation	10.2	9.3	15.1	+9.0%
Buybacks	1.0	0.8	71.2	+32.3%
Dividends paid	16.6	13.7	15.2	+21.0%
Dividend per share	$1.60	$1.60	$1.60	0.0%
Diluted shares, weighted	13m	11m	9m	+14.9%
Shares outstanding at period end	11m	10m	9m	+10.6%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	453	325	163	+39.6%
Non-controlling interest	14.0	2.3	-1.3	+503.7%
Redeemable equity	1.7	96.2	93.6	-98.2%
Debt	189	213	217	-11.5%
Other liabilities	1,573	1,175	1,331	+33.8%
Total liabilities and equity	2,230	1,811	1,803	+23.1%
Fixed assets	29.5	29.3	17.9	+1.0%
Intangible assets	5.2	7.7	10.6	-32.0%
Securities held for sale or to maturity	719	383	484	+87.5%
Cash and equivalents	532	536	235	-0.7%
Other assets	944	855	1,056	+10.5%
Total assets	2,230	1,811	1,803	+23.1%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.