Neptune Insurance Holdings Inc.
NP NYSE Insurance Agents, Brokers & Service Financials FY2023–FY2025
Revenue
Total sales reported in the income statement.
$160M
33.7%
vs prior year
Operating margin
Operating income as a share of revenue.
44.5%
12.9 pts
Net income
Profit after all expenses, interest and tax.
$37.4M
8.2%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.40 EPS (TTM)
What Neptune Insurance Holdings Inc. does
No business description yet.
- Legal name
- Neptune Insurance Holdings Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Accession · CIK
- 0002067129-26-000007
0002067129
Revenue and margins
Neptune Insurance Holdings Inc. had $160M of revenue in fiscal 2025, up 33.7% on the year before.
FY23
Revenue $84.9M
FY24
Revenue $119M
FY25
Revenue $160M
Q1 '24
Revenue —
Q2 '24
Revenue —
Q3 '24
Revenue $33.8M
Q4 '24
Revenue $31.5M
Q1 '25
Revenue $29.4M
Q2 '25
Revenue $42.1M
Q3 '25
Revenue $44.4M
Q4 '25
Revenue $43.8M
Q1 '26
Revenue $37.8M
Q2 '26
Revenue $55.9M
Q3 '26
Revenue $59.6M
FY23
Gross —
Operating 53.5%
Net 21.1%
FCF —
FY24
Gross —
Operating 57.4%
Net 29.0%
FCF —
FY25
Gross —
Operating 44.5%
Net 23.4%
FCF —
Gross
Operating
Net
FCF
Q1 '24
Gross —
Operating —
Net —
FCF —
Q2 '24
Gross —
Operating —
Net —
FCF —
Q3 '24
Gross —
Operating 58.6%
Net 35.8%
FCF —
Q4 '24
Gross —
Operating 58.4%
Net 36.9%
FCF —
Q1 '25
Gross —
Operating 53.2%
Net 33.9%
FCF —
Q2 '25
Gross —
Operating 50.6%
Net 27.6%
FCF —
Q3 '25
Gross —
Operating 46.7%
Net 25.9%
FCF —
Q4 '25
Gross —
Operating 30.5%
Net 9.9%
FCF —
Q1 '26
Gross —
Operating 35.6%
Net 19.4%
FCF —
Q2 '26
Gross —
Operating 47.5%
Net 28.3%
FCF —
Q3 '26
Gross —
Operating 46.9%
Net 29.0%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY23
Net income $17.9M
FY24
Net income $34.6M
FY25
Net income $37.4M
Q1 '24
Net income $4.6M
Q2 '24
Net income $6.3M
Q3 '24
Net income $12.1M
Q4 '24
Net income $11.6M
Q1 '25
Net income $9.9M
Q2 '25
Net income $11.6M
Q3 '25
Net income $11.5M
Q4 '25
Net income $4.3M
Q1 '26
Net income $7.3M
Q2 '26
Net income $15.8M
Q3 '26
Net income $17.3M
FY23
Diluted EPS $0.10
FY24
Diluted EPS $0.16
FY25
Diluted EPS −$0.26
Q1 '24
Diluted EPS —
Q2 '24
Diluted EPS —
Q3 '24
Diluted EPS $0.06
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS $0.05
Q2 '25
Diluted EPS −$0.49
Q3 '25
Diluted EPS $0.06
Q4 '25
Diluted EPS $0.12
Q1 '26
Diluted EPS $0.05
Q2 '26
Diluted EPS $0.11
Q3 '26
Diluted EPS $0.12
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY23
Return on capital —
Return on equity —
Return on assets —
FY24
Return on capital —
Return on equity —
Return on assets 71.8%
FY25
Return on capital —
Return on equity —
Return on assets 66.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY23
Cash from operations $18.6M
Capital spending —
FY24
Cash from operations $49.9M
Capital spending —
FY25
Cash from operations $51.7M
Capital spending —
Cash from operations
Capital spending
Q1 '24
Cash from operations —
Capital spending —
Q2 '24
Cash from operations —
Capital spending —
Q3 '24
Cash from operations —
Capital spending —
Q4 '24
Cash from operations $14.7M
Capital spending —
Q1 '25
Cash from operations $14.3M
Capital spending —
Q2 '25
Cash from operations $8.6M
Capital spending —
Q3 '25
Cash from operations $16.0M
Capital spending —
Q4 '25
Cash from operations $12.8M
Capital spending —
Q1 '26
Cash from operations $16.7M
Capital spending —
Q2 '26
Cash from operations $26.7M
Capital spending —
Q3 '26
Cash from operations $25.9M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Neptune Insurance Holdings Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 11.9%.
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks $0.0M
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Q3 '26
Dividends —
Buybacks $0.0M
Dividends
Buybacks
FY23
Diluted shares 0.09B
FY24
Diluted shares 0.09B
FY25
Diluted shares 0.10B
Balance sheet
Cash, debt and the ratios that show how comfortably Neptune Insurance Holdings Inc. can carry it.
FY23
Cash $24.3M
Debt —
FY24
Cash $7.1M
Debt $125M
FY25
Cash $8.0M
Debt $0.0M
Cash
Debt
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $24.3M | $7.1M | $8.0M |
| Debt incl. finance leases | — | $125M | $0.0M |
| Interest coverage | 2.1x | 3.9x | 3.9x |
| Current ratio | — | 0.7x | 1.0x |
| Quick ratio | — | 0.7x | 1.0x |
| Total assets | — | $48.2M | $65.3M |
| Total liabilities | — | $174M | $293M |
| Shareholders' equity | −$388M | −$366M | −$227M |
| Net debt (− = net cash) | — | $118M | −$8.0M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ |
| Current ratio rose | — | — | ✓ |
| Share count didn't rise | — | ✓ | ✕ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | — | — | ✕ |
| F-score | — / 3 | — / 4 | 5 / 8 |
| Accruals ratio | — | −31.8% | −25.1% |
| Altman Z'' | — | −19.28 | −19.23 |
3 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $84.9M | $119M | $160M |
| Operating income | $45.4M | $68.4M | $71.0M |
| Interest expense | $21.3M | $17.5M | $18.2M |
| Pretax income | $23.9M | $46.4M | $53.6M |
| Income tax | $6.0M | $11.8M | $16.2M |
| Net income | $17.9M | $34.6M | $37.4M |
| Net income to common | $9.8M | $14.7M | −$27.2M |
| Diluted EPS | $0.10 | $0.16 | −$0.26 |
| Diluted shares | 0.09B | 0.09B | 0.10B |
| Cash flow | |||
| Cash from operations | $18.6M | $49.9M | $51.7M |
| Stock-based compensation | $0.0M | $0.3M | $11.4M |
| Balance sheet | |||
| Cash and short-term investments | $24.3M | $7.1M | $8.0M |
| Total debt | — | $125M | $0.0M |
| Deposits | — | $11.8M | — |
| Current assets | — | $35.2M | $52.5M |
| Current liabilities | — | $48.6M | $52.8M |
| Goodwill | — | $3.8M | $3.8M |
| Intangible assets | — | $0.5M | $0.5M |
| Total assets | — | $48.2M | $65.3M |
| Total liabilities | — | $174M | $293M |
| Shareholders' equity | −$388M | −$366M | −$227M |
| Margins | |||
| Operating margin | 53.5% | 57.4% | 44.5% |
| Net margin | 21.1% | 29.0% | 23.4% |
| Returns | |||
| Return on capital employed | — | −16,532.9% | 567.4% |
| Return on assets | — | 71.8% | 66.0% |
| Growth | |||
| Revenue growth | — | 40.6% | 33.7% |
| Net income growth | — | 93.4% | 8.2% |
| EPS growth | — | 60.0% | −262.5% |
| Share count change | — | −0.2% | 11.9% |
| Financial health | |||
| Interest coverage | 2.1x | 3.9x | 3.9x |
| Current ratio | — | 0.7x | 1.0x |
| Quick ratio | — | 0.7x | 1.0x |
| Capital allocation | |||
| Stock comp / revenue | 0.0% | 0.2% | 7.2% |
| Quality scores | |||
| Piotroski F-score | — | — | 5.0 |
| Altman Z'' | — | −19.3 | −19.2 |
| Accruals ratio | — | −31.8% | −25.1% |
Source: SEC EDGAR XBRL filings (CIK 0002067129). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.