Palomar Holdings (PLMR) FY2023 results: revenue $376 million, up 14.9% on the year
Palomar Holdings, Inc. (PLMR) reported revenue of $376 million for fiscal 2023, the year ended 31 December 2023, up 14.9% on the year before. Net income was $79 million, up 51.8%, and diluted earnings per share $3.13. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$376 million
+14.9% on the year
FY2017FY2023
Operating margin
27.6%
20.7% a year earlier
FY2017FY2023
Net income
$79 million
+51.8% on the year
FY2017FY2023
Diluted EPS
$3.13
+55.0% on the year
FY2017FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
116
170
87.8
-31.5%
Capital expenditure
0.0
0.3
0.0
-95.2%
Free cash flow
116
169
87.8
-31.4%
Free cash flow margin
30.9%
51.8%
35.4%
Cash from investing
-128
-157
-58.2
Cash from financing
-3.9
5.0
-13.0
Depreciation and amortisation
4.5
4.1
3.5
+9.4%
Share-based compensation
14.9
11.6
5.6
+28.3%
Buybacks
22.3
34.4
15.9
-35.3%
Diluted shares, weighted
25m
26m
26m
-1.8%
Shares outstanding at period end
25m
25m
25m
-1.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
471
385
394
+22.5%
Debt
52.6
36.4
n/a
+44.5%
Other liabilities
1,184
885
532
+33.8%
Total liabilities and equity
1,708
1,306
926
+30.7%
Fixed assets
0.4
0.6
0.5
-38.1%
Goodwill
3.8
0.0
n/a
Intangible assets
n/a
8.3
9.5
Securities held for sale or to maturity
644
515
433
+25.0%
Cash and equivalents
51.5
68.1
50.3
-24.3%
Other assets
1,009
714
433
+41.2%
Total assets
1,708
1,306
926
+30.7%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.