Arch Capital Group vs Hartford
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The short version
- Hartford is the larger business, with $28.4B of revenue in fiscal 2025 against $19.9B for Arch Capital Group.
- Arch Capital Group grew revenue faster (14.3%, against 6.9%).
- Arch Capital Group turned more of its sales into free cash flow (30.8% FCF margin, against 20.3%).
- Investors pay more for each dollar of Hartford’s earnings: a P/E of 8.8x against 8.0x for Arch Capital Group.
| Latest fiscal year | ACGL · FY25 | HIG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.5B | $37.8B |
| Revenue | $19.9B | $28.4B |
| Free cash flow | $6.1B | $5.8B |
| Net income | $4.4B | $3.8B |
| Growth | ||
| Revenue growth | 14.3% | 6.9% |
| 5-year growth | 18.6% | 6.7% |
| Share count change | −1.6% | −4.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 22.1% | 13.5% |
| FCF margin | 30.8% | 20.3% |
| Return on capital | — | 22.6% |
| Return on equity | 19.5% | 21.7% |
| Balance sheet | ||
| Net debt | — | −$159M |
| Net debt / EBITDA | — | −0.0x |
| Dividends and buybacks | $1.9B | $2.2B |
| Valuation & quality | ||
| P/E | 8.0x | 8.8x |
| Piotroski F-score | — | — |
Revenue
FY16
ACGL $4.5B
HIG $16.3B
FY17
ACGL $5.6B
HIG $17.2B
FY18
ACGL $5.5B
HIG $19.0B
FY19
ACGL $6.9B
HIG $20.7B
FY20
ACGL $8.5B
HIG $20.5B
FY21
ACGL $9.2B
HIG $22.4B
FY22
ACGL $9.6B
HIG $22.4B
FY23
ACGL $13.6B
HIG $24.5B
FY24
ACGL $17.4B
HIG $26.5B
FY25
ACGL $19.9B
HIG $28.4B
ACGL
HIG
Operating margin
FY16
ACGL —
HIG —
FY17
ACGL —
HIG —
FY18
ACGL —
HIG —
FY19
ACGL —
HIG —
FY20
ACGL —
HIG —
FY21
ACGL —
HIG —
FY22
ACGL —
HIG —
FY23
ACGL —
HIG —
FY24
ACGL —
HIG —
FY25
ACGL —
HIG —
ACGL
HIG
Free cash flow
FY16
ACGL $1.4B
HIG $1.8B
FY17
ACGL $1.1B
HIG $1.9B
FY18
ACGL $1.5B
HIG $2.7B
FY19
ACGL $2.0B
HIG $3.4B
FY20
ACGL $2.8B
HIG $3.8B
FY21
ACGL $3.4B
HIG $4.0B
FY22
ACGL $3.8B
HIG $3.8B
FY23
ACGL $5.7B
HIG $4.0B
FY24
ACGL $6.6B
HIG $5.8B
FY25
ACGL $6.1B
HIG $5.8B
ACGL
HIG
Return on capital
FY16
ACGL —
HIG —
FY17
ACGL —
HIG —
FY18
ACGL —
HIG 11.8%
FY19
ACGL —
HIG 14.7%
FY20
ACGL —
HIG 10.3%
FY21
ACGL —
HIG 13.5%
FY22
ACGL —
HIG 12.2%
FY23
ACGL —
HIG 18.1%
FY24
ACGL —
HIG 20.4%
FY25
ACGL —
HIG 22.6%
ACGL
HIG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.