Palomar Holdings (PLMR) FY2024 results: revenue $554 million, up 47.3% on the year
Palomar Holdings, Inc. (PLMR) reported revenue of $554 million for fiscal 2024, the year ended 31 December 2024, up 47.3% on the year before. Net income was $118 million, up 48.4%, and diluted earnings per share $4.48. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$554 million
+47.3% on the year
FY2017FY2024
Operating margin
27.3%
27.6% a year earlier
FY2017FY2024
Net income
$118 million
+48.4% on the year
FY2017FY2024
Diluted EPS
$4.48
+43.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
261
116
170
+124.9%
Capital expenditure
0.2
0.0
0.3
+1,520.0%
Free cash flow
261
116
169
+124.7%
Free cash flow margin
47.1%
30.9%
51.8%
Cash from investing
-306
-128
-157
Cash from financing
73.8
-3.9
5.0
Depreciation and amortisation
5.1
4.5
4.1
+13.4%
Share-based compensation
16.7
14.9
11.6
+11.9%
Buybacks
0.0
22.3
34.4
Diluted shares, weighted
26m
25m
26m
+3.5%
Shares outstanding at period end
27m
25m
25m
+7.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
729
471
385
+54.7%
Debt
0.0
52.6
36.4
Other liabilities
1,533
1,184
885
+29.5%
Total liabilities and equity
2,262
1,708
1,306
+32.4%
Fixed assets
0.4
0.4
0.6
+15.0%
Goodwill
3.8
3.8
0.0
0.0%
Intangible assets
n/a
n/a
8.3
Securities held for sale or to maturity
939
644
515
+45.9%
Cash and equivalents
80.4
51.5
68.1
+56.1%
Other assets
1,239
1,009
714
+22.8%
Total assets
2,262
1,708
1,306
+32.4%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.