Safety Insurance Group (SAFT) FY2024 results: revenue $1.1 billion, up 20.3% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $1.1 billion for fiscal 2024, the year ended 31 December 2024, up 20.3% on the year before. Net income was $71 million, up 274.7%, and diluted earnings per share $4.78. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$1.1 billion
+20.3% on the year
FY2017FY2024
Operating margin
8.0%
2.6% a year earlier
FY2017FY2024
Net income
$71 million
+274.7% on the year
FY2017FY2024
Diluted EPS
$4.78
+273.4% 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
129
52.1
44.3
+146.9%
Capital expenditure
4.4
1.8
2.1
+144.9%
Free cash flow
124
50.3
42.2
+147.0%
Free cash flow margin
11.1%
5.4%
5.3%
Cash from investing
-54.5
24.3
-20.0
Cash from financing
-53.3
-63.5
-62.6
Depreciation and amortisation
11.5
7.8
7.9
+46.7%
Share-based compensation
4.5
4.3
6.0
+3.5%
Dividends paid
53.3
53.3
53.0
+0.1%
Dividend per share
$3.60
$3.60
$3.60
0.0%
Diluted shares, weighted
15m
15m
15m
+0.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
828
804
812
+3.0%
Short-term borrowings
30.0
n/a
n/a
Debt
n/a
30.0
n/a
Other liabilities
1,412
1,260
1,161
+12.1%
Total liabilities and equity
2,270
2,094
1,973
+8.4%
Fixed assets
4.5
11.7
18.1
-61.3%
Goodwill
17.1
17.1
17.1
0.0%
Intangible assets
7.7
7.6
7.9
+2.4%
Investments
n/a
0.0
0.0
Securities held for sale or to maturity
1,115
n/a
n/a
Cash and equivalents
59.0
38.2
25.3
+54.6%
Other assets
1,067
2,019
1,904
-47.2%
Total assets
2,270
2,094
1,973
+8.4%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.