XZO Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About XZO Interactive Breakdown Better Bets vs. XZO Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Exzeo (XZO)

    Market Price (9/9/2026): $15.51 | Market Cap: $1.4 BilSector: Financials | Industry: Multi-line Insurance

    Exzeo (XZO)

    Market Price (9/9/2026): $15.51
    Market Cap: $1.4 Bil
    Sector: Financials
    Industry: Multi-line Insurance

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 5.7%

    Attractive operating margins
    Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 49%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%

    Weak multi-year price returns
    2Y Excs Rtn is -62%, 3Y Excs Rtn is -93%

    Key risks
    XZO key risks include [1] significant customer and geographic concentration tied to its former parent company and the Florida homeowners insurance market, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 5.7%
    1 Attractive operating margins
    Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 49%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%
    3 Weak multi-year price returns
    2Y Excs Rtn is -62%, 3Y Excs Rtn is -93%
    4 Key risks
    XZO key risks include [1] significant customer and geographic concentration tied to its former parent company and the Florida homeowners insurance market, Show more.

    XZO in ETFs

    Weight = XZO's share of each fund

    IWM0.00%
    AVUV0.04%
    IWO0.01%
    VTWO0.00%

    Valuation & Metrics

    FYE: 12/31XZO [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$221.8 Mil—
    FY 2026 Sales$223.8 Mil—
    FY 2027 Sales$259.7 Mil—
    FY 2026 Sales Growth0.9%—
    FY 2027 Sales Growth16.0%13.1%
    EARNINGS
    LTM Net Income (GAAP) [3]$86.8 Mil—
    FY 2026 Net Income (Non-GAAP)$90.3 Mil—
    FY 2027 Net Income (Non-GAAP)$105.3 Mil—
    FY 2027 Net Income Growth16.6%18.6%
    FY 2026 EPS (Non-GAAP)$0.99—
    FY 2027 EPS (Non-GAAP)$1.16—
    FY 2027 EPS Growth16.4%—
    VALUATION
    FY 2026 P/S6.11.7
    FY 2027 P/S5.3—
    FY 2026 P/E15.27.6
    FY 2027 P/E13.0—

    [1] XZO forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 9/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    XZOS&P 500
    REVENUE GROWTHGOOD
    Rev LTM ($ Bil)0.2
    Rev Chg Q3.0%9.3%
    Rev Chg LTM21.8%8.4%
    Rev Chg 3Y Avg21.8%5.9%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)0.1
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.1
    Op Mgn LTM48.5%18.6%
    CFO/Rev LTM37.7%21.9%
    Net Inc Mgn39.1%13.1%
    VALUATIONMODERATE
    P/S6.23.2
    P/CFO16.415.2
    P/FCF16.819.5
    P/E15.823.0

    AI Analysis | Feedback

    MetricValueDateSource
    Premiums in Forceover $1.2 billion11052025Link
    Managed Policies27000011052025Link
    Number of States with Licenses2911052025Link

    Price Chart

    Upcoming
    12/09/2026Earnings ReleaseRev: $56 Mil (E)
    EPS: $0.24 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 9/1/2026

    Exzeo (XZO) stock has gained about 15% since 5/31/2026 because of the following key factors:

    1. Strong Second Fiscal Quarter 2026 Financial Performance.

    Exzeo reported robust results for the fiscal quarter ended June 30, 2026, announcing an Earnings Per Share (EPS) of $0.26, surpassing the consensus estimate of $0.24 by 7.26%. Revenue for the quarter also increased to $57.8 million from $56.1 million in the prior-year period, while net income rose to $23.3 million from $21.7 million. Key operating metrics also demonstrated growth, with Managed Premium increasing to $1.40 billion from $1.22 billion and Annual Recurring Revenue (ARR) reaching $210.7 million, up from $195.3 million.

    2. Strategic Launch of Exzeo Ventures Focused on AI Innovation.

    On August 6, 2026, Exzeo announced the formation of "Exzeo Ventures," a new division dedicated to developing AI-native products, services, and businesses. This initiative is initially focused on applying agentic AI to insurance applications such as underwriting, risk transfer solutions, catastrophe claims, and distribution automation, positioning the company to capitalize on the increasing adoption of AI in the technology sector.

    Show more
    Updated on 9/1/2026

    Exzeo (XZO) stock has gained about 15% since 5/31/2026 because of the following key factors:

    1. Strong Second Fiscal Quarter 2026 Financial Performance.

    Exzeo reported robust results for the fiscal quarter ended June 30, 2026, announcing an Earnings Per Share (EPS) of $0.26, surpassing the consensus estimate of $0.24 by 7.26%. Revenue for the quarter also increased to $57.8 million from $56.1 million in the prior-year period, while net income rose to $23.3 million from $21.7 million. Key operating metrics also demonstrated growth, with Managed Premium increasing to $1.40 billion from $1.22 billion and Annual Recurring Revenue (ARR) reaching $210.7 million, up from $195.3 million.

    2. Strategic Launch of Exzeo Ventures Focused on AI Innovation.

    On August 6, 2026, Exzeo announced the formation of "Exzeo Ventures," a new division dedicated to developing AI-native products, services, and businesses. This initiative is initially focused on applying agentic AI to insurance applications such as underwriting, risk transfer solutions, catastrophe claims, and distribution automation, positioning the company to capitalize on the increasing adoption of AI in the technology sector.

    3. Multiple Share Repurchase Programs Demonstrating Confidence.

    Exzeo completed a $12 million share repurchase program in July 2026, under which it repurchased 834,250 shares. Subsequently, on August 14, 2026, the company's Board of Directors authorized a new stock repurchase program for up to $25 million of its common shares. These actions signal management's confidence in the company's valuation and commitment to enhancing shareholder value.

    4. Positive Analyst Sentiment and Upward Price Targets.

    Analysts maintained a positive outlook on Exzeo, contributing to investor confidence. As of August 25, 2026, one analysis rated Exzeo as a "strong buy" with a conservative price target of $20.38, indicating an 18.5% potential upside from its then-current trading price of $17.20. Across Wall Street, the stock held a consensus price target of $26.00, implying a significant upside (e.g., 57.19% from a price of $16.54 as of August 28, 2026).

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    Stock Movement Drivers

    Fundamental Drivers

    The 16.5% change in XZO stock from 5/31/2026 to 9/8/2026 was primarily driven by a 129.3% change in the company's Net Income Margin (%).
    (LTM values as of)53120269082026Change
    Stock Price ($)13.8516.1316.5%
    Change Contribution By: 
    Total Revenues ($ Mil)15822240.1%
    Net Income Margin (%)17.1%39.1%129.3%
    P/E Multiple46.516.4-64.7%
    Shares Outstanding (Mil)91882.8%
    Cumulative Contribution16.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    5/31/2026 to 9/8/2026
    ReturnCorrelation
    XZO16.5% 
    Market (SPY)1.3%-4.4%
    Sector (XLF)11.1%31.5%

    Fundamental Drivers

    The -3.8% change in XZO stock from 2/28/2026 to 9/8/2026 was primarily driven by a -11.0% change in the company's P/E Multiple.
    (LTM values as of)22820269082026Change
    Stock Price ($)16.7616.13-3.8%
    Change Contribution By: 
    Total Revenues ($ Mil)2172222.2%
    Net Income Margin (%)38.1%39.1%2.6%
    P/E Multiple18.416.4-11.0%
    Shares Outstanding (Mil)91883.1%
    Cumulative Contribution-3.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    2/28/2026 to 9/8/2026
    ReturnCorrelation
    XZO-3.8% 
    Market (SPY)12.0%22.1%
    Sector (XLF)12.0%35.3%

    Fundamental Drivers

    null
    null

    Market Drivers

    8/31/2025 to 9/8/2026
    ReturnCorrelation
    XZO  
    Market (SPY)19.8%32.7%
    Sector (XLF)7.4%38.9%

    Fundamental Drivers

    null
    null

    Market Drivers

    8/31/2023 to 9/8/2026
    ReturnCorrelation
    XZO  
    Market (SPY)76.1%32.7%
    Sector (XLF)74.1%38.9%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    XZO Return----15%-32%-21%
    Peers Return4%-34%43%32%6%-13%20%
    S&P 500 Return27%-19%24%23%16%13%105%

    Monthly Win Rates [3]
    XZO Win Rate----50%33% 
    Peers Win Rate56%31%61%61%56%41% 
    S&P 500 Win Rate75%42%67%75%67%56% 

    Max Drawdowns [4]
    XZO Max Drawdown------48% 
    Peers Max Drawdown-22%-43%-17%-13%-27%-36% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: GWRE, VRSK, SSNC.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 9/8/2026 (YTD)

    How Low Can It Go

    XZO has limited trading history. Below is the Financials sector ETF (XLF) in its place.

    EventXLFS&P 500
    2025 US Tariff Shock
      % Loss-15.5%-18.8%
      % Gain to Breakeven18.4%23.1%
      Time to Breakeven80 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-10.7%-9.5%
      % Gain to Breakeven12.0%10.5%
      Time to Breakeven26 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-16.1%-6.7%
      % Gain to Breakeven19.1%7.1%
      Time to Breakeven270 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-22.3%-24.5%
      % Gain to Breakeven28.6%32.4%
      Time to Breakeven467 days427 days
    2020 COVID-19 Crash
      % Loss-42.8%-33.7%
      % Gain to Breakeven74.8%50.9%
      Time to Breakeven289 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-19.7%-19.2%
      % Gain to Breakeven24.5%23.8%
      Time to Breakeven123 days105 days

    Compare to GWRE, VRSK, SSNC

    In The Past

    State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    XZO has limited trading history. Below is the Financials sector ETF (XLF) in its place.

    EventXLFS&P 500
    2022 Inflation Shock & Fed Tightening
      % Loss-22.3%-24.5%
      % Gain to Breakeven28.6%32.4%
      Time to Breakeven467 days427 days
    2020 COVID-19 Crash
      % Loss-42.8%-33.7%
      % Gain to Breakeven74.8%50.9%
      Time to Breakeven289 days140 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-21.4%-12.2%
      % Gain to Breakeven27.3%13.9%
      Time to Breakeven272 days62 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-26.1%-17.9%
      % Gain to Breakeven35.3%21.8%
      Time to Breakeven162 days123 days
    2008-2009 Global Financial Crisis
      % Loss-78.3%-53.4%
      % Gain to Breakeven359.8%114.4%
      Time to Breakeven2329 days1085 days

    Compare to GWRE, VRSK, SSNC

    In The Past

    State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Exzeo (XZO)

    Exzeo (XZO) is a technology and operations solutions provider for the property and casualty (P&C) insurance industry, operating on an "Insurance-as-a-Service" (IaaS) model. The company offers a proprietary platform, known as the Exzeo Platform, which comprises nine highly configurable software and data analytics applications. These applications are specifically designed to enhance underwriting margins, reduce operating expenses, and facilitate rapid market and product expansion for insurance carriers and their agents.

    Through its platform, Exzeo automates and streamlines a comprehensive range of operational and administrative functions critical to P&C insurance carriers. This includes services such as quoting and underwriting, policy management, claims processing, data reporting, and financial reporting. Exzeo's data-centric technology aims to deliver a streamlined, user-friendly experience for both carriers and policyholders, optimizing operational efficiencies for customers without requiring significant upfront technology expenditures.

    Exzeo's primary customers are P&C insurance carriers and their managing general agents. While the company initially derived most of its revenue from entities owned or managed by its parent company, HCI Group, it is actively working to expand its customer base to include new carrier partnerships. Exzeo generates revenue through a variable fee structure, typically based on a percentage of the premium managed through its platform. The company currently provides services in 13 states and holds insurance licenses in 29, with plans for continued geographic expansion.

    AI Analysis | Feedback

    Exzeo is like a
    Shopify for insurance carriers
    or a
    Salesforce for P&C insurance operations

    AI Analysis | Feedback

    • Exzeo Platform: A proprietary Insurance-as-a-Service (IaaS) platform comprising nine highly configurable software and data analytics applications tailored for the property and casualty (P&C) insurance ecosystem.
    • Underwriting and Policy Management Services: Technology-based solutions that automate and streamline quoting, underwriting, and the comprehensive management of insurance policies for P&C carriers and agents.
    • Claims Processing Management Services: Services provided through the Exzeo Platform that manage and automate the entire claims processing workflow for P&C insurance companies.
    • Data and Financial Reporting Services: Solutions that offer robust data analytics and financial reporting capabilities through the Exzeo Platform to support operational oversight and strategic decision-making.

    AI Analysis | Feedback

    <p>Exzeo (XZO) primarily sells its insurance technology and operations solutions to other companies, specifically insurance carriers and their agents.</p> <h3>Major Customers:</h3> <ul> <li> <strong>HCI Group, Inc.</strong> (NYSE: HCI) and its subsidiaries or managing general agents that are owned or managed by HCI. Exzeo was established as the technology and innovation division of HCI Group, Inc. and has derived substantially all of its revenues to date from these customers.</li> </ul> <p>Exzeo also intends to develop new customer partnerships with additional carriers and their agents beyond its initial HCI-related customer base.</p>

    AI Analysis | Feedback

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    Paresh Patel
    Chairman & Chief Executive Officer

    Paresh Patel was appointed CEO of Exzeo Group, Inc. in July 2020. He also serves as the Chairman of Exzeo. Mr. Patel founded Exzeo in 2012 as the technology and innovation division of HCI Group, Inc., where he also serves as Chairman and CEO. He is also the Chief Executive Officer of TypTap Insurance Company, a subsidiary of HCI. Patel has experience raising capital, having secured approximately $13 million to launch HCI.

    Suela Bulku
    Chief Financial Officer

    Suela Bulku is the Chief Financial Officer of Exzeo Group, Inc. She has reported on the company's strong financial performance, including increased revenue, improved adjusted EBITDA margins, and significant positive free cash flow. Ms. Bulku recently purchased Exzeo stock in December 2025.

    Kevin Mitchell
    President

    Kevin Mitchell serves as the President of Exzeo Group, Inc. and is also a Director. He has been involved in expanding Exzeo's client base and product offerings, including the addition of Tokio Marine Highland as a new client and flood insurance as a new product on the Exzeo platform.

    Shawn McVeigh
    Chief Technology Officer

    Shawn McVeigh is the Chief Technology Officer at Exzeo Group, Inc.

    Brook Baker
    General Counsel

    Brook Baker is the General Counsel for Exzeo Group, Inc. She purchased Exzeo stock in December 2025.

    AI Analysis | Feedback

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    Risk of Customer Concentration

    Exzeo has derived substantially all of its revenues to date from insurance carriers or their managing general agents that are owned or managed by HCI Group, Inc. and its subsidiaries. This significant reliance on a single group of related customers exposes Exzeo to a high risk of customer concentration. Any adverse changes in the business relationship with HCI Group, a decrease in the business volume from these customers, or a decision by HCI Group to internalize technology solutions could severely impact Exzeo's financial performance and operational stability. ```

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Addressable Market for Exzeo's Main Products and Services

    Exzeo primarily operates within the Property and Casualty (P&C) Insurance Software market. This market encompasses the software solutions designed to assist P&C insurance companies in managing various operations, including policy management, claims management, billing, accounting, and analytics, which align with Exzeo's proprietary platform offerings.

    The North American P&C Insurance Software Market was valued at approximately USD 11.54 billion in 2024. This market is projected to reach around USD 14.33 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 2.4% from 2025 to 2033. North America holds a leading position in this market due to its advanced technological infrastructure and high adoption rates of digital solutions within the insurance sector.

    AI Analysis | Feedback

    Exzeo (XZO) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
    1. Expansion of Customer Base: Exzeo aims to significantly grow its customer base beyond its initial reliance on HCI Group, Inc. and its subsidiaries. The company is actively working to onboard new third-party clients and broaden its sales funnel to attract additional carriers and their agents. This focus on expanding to non-HCI clients is a stated goal for 2026, with new startups added to the platform expected to contribute significantly to managed premium.
    2. Broadening Product Offerings: Exzeo is expanding its suite of solutions by launching new products and services on its platform. A recent example includes the introduction of the TMH2O flood insurance product, which has expanded the company's market reach and attracted new clients like Tokio Marine Highland. This strategy of introducing purpose-built applications for the P&C insurance ecosystem is expected to attract more customers and increase engagement with existing ones.
    3. Geographic Market Expansion: The company plans to extend its operational footprint into new states. Currently providing services in 13 states, Exzeo intends to expand into the remaining 21 states by obtaining additional licenses as needed, driven by the growth plans of existing customers and the geographies of new partnerships. This expansion into new markets will allow Exzeo to capture a larger share of the insurance technology market.
    4. Leveraging AI and Technological Advancements: Exzeo anticipates that the accelerating adoption of artificial intelligence (AI) and machine learning in the insurance industry will be a significant catalyst for its platform's growth. The company's data-centric technology is well-positioned to integrate these advancements, offering carriers enhanced capabilities for risk assessment, faster loss identification, and fraud mitigation. Management believes that AI will drive an "upgrade super-cycle" in the industry, accelerating the demand for Exzeo's automated and scalable platform.
    5. Growth in Managed Premium: Exzeo's revenue model is tied to the premium managed through its platform. The company has consistently reported substantial increases in managed premium, with an outlook for 2026 raising expectations to $1.55 billion. This growth in managed premium reflects the increasing adoption and utilization of the Exzeo Platform by both existing and new clients, directly translating into higher revenues through its variable fee structure.

    AI Analysis | Feedback

    Share Issuance

    • Exzeo Group completed its initial public offering (IPO) on November 5, 2025, offering 8 million shares at $21.00 per share, raising $168 million.
    • The company granted underwriters a 30-day option to purchase up to an additional 1.2 million shares at the IPO price.
    • As of February 20, 2026, Exzeo Group had 90,913,540 common shares outstanding.

    Inbound Investments

    • Exzeo Group was established as the technology and innovation division of HCI Group, Inc., which later spun it off as a separate public company.
    • Following the IPO, HCI Group remained the majority shareholder, holding approximately 75% ownership. As of December 5, 2026, HCI Group's beneficial ownership was 82.6% of Exzeo's common stock, totaling 75,000,000 shares.
    • Major institutional investors, including Ophir Asset Management Pty Ltd, Janus Henderson Group PLC, Jennison Associates LLC, and Goldman Sachs Group Inc., hold significant stakes in Exzeo Group.

    Outbound Investments

    • On July 1, 2024, Exzeo transferred all 2,500,000 outstanding shares of its TypTap Insurance Company (TTIC) subsidiary to HCI Group in exchange for the settlement of promissory notes. This sale constituted a disposal of a significant component of Exzeo's business.
    • The company intends to pursue strategic acquisitions of complementary technology firms.

    Capital Expenditures

    • In the last 12 months (ending Q4 2025), Exzeo Group reported capital expenditures of -$2.84 million.
    • In Q4 2025, capital expenditures were $403K, representing a 37.8% decrease from the prior quarter.
    • Exzeo plans to use its IPO proceeds to accelerate product development of its core software platform, expand data-analytics capabilities through investments in AI and cloud infrastructure, and increase marketing and sales capacity in additional U.S. states.

    Peer Outperformance in Multi-line Insurance

    null
    Share of Multi-line Insurance constituents that XZO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    —
    insufficient peer history
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
    null
    Median price return by industry across the Financials sector, ranked by 5Y. Multi-line Insurance is XZO's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Investment Banking & Brokerage 13 7.7%133.2%144.2% IBKR 492% · SNEX 244% · GS 189%
    Reinsurance 6 18.8%75.0%124.6% SPNT 167% · RGA 134% · MTG 126%
    Diversified Banks 12 38.0%136.2%118.7% CM 156% · JPM 152% · RY 144%
    Life & Health Insurance 20 14.7%55.5%96.7% JXN 510% · UNM 316% · FG 218%
    Multi-Sector Holdings 5 4.3%55.1%81.6% JONE 361% · JEF 86% · BRK-B 82%
    Regional Banks 265 25.4%85.8%68.6% GCBC 361% · ESQ 353% · VBNK 321%
    Property & Casualty Insurance 42 8.9%73.2%64.8% ASIC 2652900% · HRTG 439% · UVE 300%
    Multi-line Insurance ← 9 12.0%87.8%56.7% GNW 189% · L 102% · SLF 90%
    Consumer Finance 30 9.2%86.6%34.4% ENVA 593% · EZPW 398% · FCFS 173%
    Financial Exchanges & Data 15 -4.4%18.5%26.7% VIRT 214% · CBOE 152% · CME 77%
    Insurance Brokers 16 -13.9%-1.2%20.9% LIFE 657% · ARX 89% · AJG 82%
    Commercial & Residential Mortgage Finance 13 -42.7%35.2%19.9% FNMA 505% · FMCC 490% · ESNT 65%
    Diversified Financial Services 4 0.5%9.3%17.3% FRHC 161% · EQH 94% · TMS -59%
    Asset Management & Custody Banks 83 -10.9%17.0%14.6% WT 334% · VCTR 291% · SII 289%
    Specialized Finance 3 15.7%47.8%-3.0% EFC 35% · CACC -3% · HASI -13%
    Mortgage REITs 33 -11.7%10.8%-12.5% NREF 57% · RITM 51% · DX 41%
    Diversified Capital Markets 21 -21.0%-4.5%-38.8% BTCS 614% · OPY 209% · LPLA 145%
    Transaction & Payment Processing Services 15 -0.2%-3.6%-45.2% V 68% · MA 67% · CPAY 54%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    QMCOQuantum0.5103.2%279.2%
    PURRHyperliquid Strategies1.575.2%235.1%
    HTFLHeartFlow4.165.7%63.8%
    ABCLAbCellera Biologics3.565.1%234.5%
    ARXAccelerant4.359.2%21.3%
    FWDIForward Industries0.658.4%3.8%
    NIQNIQ Global Intelligence5.457.0%11.2%
    STDNStandard Nuclear2.156.5%7.4%

    Top Losers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    ALMSAlumis1.4-61.7%8.4%
    IESCIES13.7-44.1%-11.9%
    RAREUltragenyx Pharmaceutical1.5-42.6%-35.3%
    AADXApplied Aerospace & Defense1.8-42.5%-34.8%
    CDNLCardinal Infrastructure0.6-40.3%58.1%
    LINCLincoln Educational Services0.8-39.5%2.7%
    AEVAAeva Technologies1.1-39.0%22.4%
    DKSDick's Sporting Goods11.7-36.6%-32.3%
    EVCMEverCommerce1.3-34.2%-40.7%
    LCIDLucid1.8-34.2%-56.2%

    More From Trefis

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    Peer Comparisons

    Peers to compare with:

    Financials

    XZOGWREVRSKSSNCMedian
    NameExzeo Guidewir.Verisk A.SS&C Tec. 
    Mkt Price16.13149.71175.4980.45115.08
    Mkt Cap1.412.622.919.215.9
    Rev LTM2221,4213,1366,5642,278
    Op Inc LTM1081171,3751,550746
    FCF LTM823201,2361,504778
    FCF 3Y Avg-2361,0401,2161,040
    CFO LTM843511,5031,816927
    CFO 3Y Avg-2591,2771,4941,277

    Growth & Margins

    XZOGWREVRSKSSNCMedian
    NameExzeo Guidewir.Verisk A.SS&C Tec. 
    Rev Chg LTM21.8%24.9%5.0%8.6%15.2%
    Rev Chg 3Y Avg-17.5%6.9%6.8%6.9%
    Rev Chg Q3.0%26.9%4.4%10.3%7.4%
    QoQ Delta Rev Chg LTM0.8%5.9%1.1%2.5%1.8%
    Op Inc Chg LTM45.0%437.8%4.8%11.9%28.4%
    Op Inc Chg 3Y Avg-215.3%6.7%9.7%9.7%
    Op Mgn LTM48.5%8.2%43.9%23.6%33.7%
    Op Mgn 3Y Avg-1.4%43.2%23.2%23.2%
    QoQ Delta Op Mgn LTM-0.2%1.5%-0.2%0.5%0.2%
    CFO/Rev LTM37.7%24.7%47.9%27.7%32.7%
    CFO/Rev 3Y Avg-21.6%42.9%24.4%24.4%
    FCF/Rev LTM36.8%22.5%39.4%22.9%29.8%
    FCF/Rev 3Y Avg-19.7%34.9%19.8%19.8%

    Valuation

    XZOGWREVRSKSSNCMedian
    NameExzeo Guidewir.Verisk A.SS&C Tec. 
    Mkt Cap1.412.622.919.215.9
    P/S6.48.97.32.96.9
    P/Op Inc13.2107.716.712.415.0
    P/EBIT12.972.916.912.514.9
    P/E16.478.925.922.224.0
    P/CFO17.036.015.310.516.1
    Total Yield6.1%1.3%5.0%5.9%5.4%
    Dividend Yield0.0%0.0%1.1%1.4%0.6%
    FCF Yield 3Y Avg-1.9%3.3%7.4%3.3%
    D/E0.00.10.20.40.1
    Net D/E-0.1-0.00.20.40.1

    Returns

    XZOGWREVRSKSSNCMedian
    NameExzeo Guidewir.Verisk A.SS&C Tec. 
    1M Rtn4.1%-12.2%-8.5%1.9%-3.3%
    3M Rtn23.1%20.2%-3.6%17.5%18.9%
    6M Rtn5.6%-5.8%-13.0%10.0%-0.1%
    12M Rtn-23.2%-42.8%-35.1%-8.2%-29.2%
    3Y Rtn-23.2%59.0%-26.7%50.5%13.7%
    1M Excs Rtn5.1%-11.1%-7.4%3.0%-2.2%
    3M Excs Rtn19.4%14.1%-5.3%14.8%14.4%
    6M Excs Rtn-6.8%-21.2%-29.0%-4.0%-14.0%
    12M Excs Rtn-41.6%-61.0%-52.9%-26.5%-47.2%
    3Y Excs Rtn-93.5%3.0%-96.3%-24.1%-58.8%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/2024
    Filing Date8/7/20265/7/20262/26/202612/11/202511/5/20255/7/202611/5/202512/11/2025
    Key Financials Quarterly        
    Total Revenue5856535556524529
    Net Income232022212218125
    EPS0.260.220.250.230.240.200.130.06
    Key Financials TTM        
    Total Revenue TTM22222021720818215812187
    Net Income TTM8785837257274-12
    Growth Rates Quarterly        
    Total Revenue Growth3.0%6.0%19.7%89.5%73.6%251.2%333.2%-
    Net Income Growth7.4%13.7%87.9%302.3%375.2%465.7%359.6%-
    Margins Quarterly        
    Net Income Margin40.3%36.7%41.2%38.3%38.6%34.3%26.3%18.1%
    Cash & Debt        
    Total Cash137231305141111-55-
    Total Debt77788080
    Net Debt / (Cash)-130-224-298-133-103--46-
    Cash Flows Quarterly        
    FCF from Operations1525113138202011
    Cash Flows TTM        
    FCF from Operations TTM8410610010989---
    Returns to Shareholders Quarterly        
    Dividends00000000
    Share Repurchases-0-01-0-0-0-00
    Return on Invested Capital (ROIC) Quarterly        
    ROIC94.8%1590.4%----173.1%-
    Return on Invested Capital (ROIC) TTM        
    ROIC TTM90.3%1723.4%----15.6%-

    Segment Financials

    Revenue by Segment
    $ Mil2025202420232022
    Underwriting and management services176956127
    Claim services31312016
    Other technology services9873
    Total2171348846


    Price Behavior

    Price Behavior
    Market Price$16.13 
    Market Cap ($ Bil)1.4 
    Distance from 52W High-33.5% 
       50 Days200 Days
    DMA Price$18.57$18.57
    DMA Trendindeterminateup
    Distance from DMA-13.1%-13.1%
     3M1YR
    Volatility50.7%64.0%
    Downside Capture-144.83180.24
    Upside Capture-21.93112.27
    Correlation (SPY)-0.9% 
    XZO Betas & Captures as of 8/31/2026

     1M2M3M6M1Y3Y
    Beta-0.21-0.21-0.260.92-0.17-0.53
    Up Beta3.18-0.080.862.000.941.13
    Down Beta-2.292.340.200.68-0.06-0.26
    Up Capture-90%-96%-30%46%90%9%
    Bmk +ve Days10213268138427
    Stock +ve Days12233568105105
    Down Capture-408%-78%-169%71%130%72%
    Bmk -ve Days11213259113324
    Stock -ve Days91928589898

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with XZO
    XZO-23.3%64.0%-0.24-
    Sector ETF (XLF)9.3%14.6%0.3938.9%
    Equity (SPY)19.4%12.8%1.1132.7%
    Gold (GLD)20.8%29.2%0.651.1%
    Commodities (DBC)45.0%20.4%1.72-17.7%
    Real Estate (VNQ)7.8%13.6%0.3021.6%
    Bitcoin (BTCUSD)-28.1%43.9%-0.6317.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with XZO
    XZO-5.2%64.0%-0.24-
    Sector ETF (XLF)10.1%18.4%0.4138.9%
    Equity (SPY)12.6%17.2%0.5632.7%
    Gold (GLD)18.8%18.8%0.811.1%
    Commodities (DBC)10.6%19.5%0.42-17.7%
    Real Estate (VNQ)1.5%18.9%-0.0321.6%
    Bitcoin (BTCUSD)11.1%52.6%0.3917.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with XZO
    XZO-2.6%64.0%-0.24-
    Sector ETF (XLF)13.4%22.1%0.5538.9%
    Equity (SPY)15.2%17.9%0.7232.7%
    Gold (GLD)12.2%16.3%0.611.1%
    Commodities (DBC)7.9%18.1%0.36-17.7%
    Real Estate (VNQ)4.9%20.7%0.2021.6%
    Bitcoin (BTCUSD)63.6%66.2%1.0317.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date8142026
    Short Interest: Shares Quantity0.9 Mil
    Short Interest: % Change Since 731202642.0%
    Average Daily Volume0.2 Mil
    Days-to-Cover Short Interest4.4 days
    Basic Shares Quantity88.2 Mil
    Short % of Basic Shares1.0%

    Earnings Returns History

    Updated 9/9/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/6/2026-4.8%-3.8%1.6%
    5/6/2026-19.3%-22.5%-23.5%
    2/25/20264.5%-2.1%-12.1%
    11/7/2025-0.1%-7.6%-7.1%
    SUMMARY STATS   
    # Positive101
    # Negative343
    Median Positive4.5% 1.6%
    Median Negative-4.8%-5.7%-12.1%
    Max Positive4.5% 1.6%
    Max Negative-19.3%-22.5%-23.5%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/6/2026-4.8%-3.8%1.6%
    5/6/2026-19.3%-22.5%-23.5%
    2/25/20264.5%-2.1%-12.1%
    11/7/2025-0.1%-7.6%-7.1%
    SUMMARY STATS   
    # Positive101
    # Negative343
    Median Positive4.5% 1.6%
    Median Negative-4.8%-5.7%-12.1%
    Max Positive4.5% 1.6%
    Max Negative-19.3%-22.5%-23.5%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/07/202610-Q
    12/31/202502/26/202610-K
    09/30/202512/11/202510-Q
    06/30/202511/05/2025424B4
    09/30/202111/08/2021S-1
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/07/202610-Q
    12/31/202502/26/202610-K
    09/30/202512/11/202510-Q
    06/30/202511/05/2025424B4
    09/30/202111/08/2021S-1

    Insider Activity

    Updated 5/28/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Patel, PareshChief Executive OfficerDirectBuy528202613.672,00027,34022,856,418Form
    2Patel, PareshChief Executive OfficerDirectBuy526202612.922,00025,84021,550,728Form
    3Patel, PareshChief Executive OfficerDirectBuy522202612.822,00025,64021,358,287Form
    4Patel, PareshChief Executive OfficerDirectBuy520202613.692,00027,38022,752,958Form
    5Patel, PareshChief Executive OfficerDirectBuy518202613.682,00027,35522,677,473Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Patel, PareshChief Executive OfficerDirectBuy528202613.672,00027,34022,856,418Form
    2Patel, PareshChief Executive OfficerDirectBuy526202612.922,00025,84021,550,728Form
    3Patel, PareshChief Executive OfficerDirectBuy522202612.822,00025,64021,358,287Form
    4Patel, PareshChief Executive OfficerDirectBuy520202613.692,00027,38022,752,958Form
    5Patel, PareshChief Executive OfficerDirectBuy518202613.682,00027,35522,677,473Form
    6Patel, PareshChief Executive OfficerDirectBuy515202613.752,00027,50022,770,179Form
    7Patel, PareshChief Executive OfficerDirectBuy513202613.852,00027,70022,880,380Form
    8Patel, PareshChief Executive OfficerDirectBuy511202613.522,00027,04022,281,136Form
    9Patel, PareshChief Executive OfficerDirectBuy508202615.112,00030,22024,871,256Form
    10Patel, PareshChief Executive OfficerDirectBuy506202617.112,00034,22028,094,842Form
    11Patel, PareshChief Executive OfficerDirectBuy504202616.532,00033,06027,076,355Form
    12Patel, PareshChief Executive OfficerDirectBuy501202615.912,00031,82026,028,967Form
    13Patel, PareshChief Executive OfficerDirectBuy430202616.222,00032,44026,503,691Form
    14Patel, PareshChief Executive OfficerDirectBuy428202616.882,00033,76027,514,619Form
    15Patel, PareshChief Executive OfficerDirectBuy427202616.212,00032,42026,390,091Form
    16Patel, PareshChief Executive OfficerDirectBuy424202616.622,00033,24027,024,336Form
    17Patel, PareshChief Executive OfficerDirectBuy422202617.282,00034,56028,028,385Form
    18Patel, PareshChief Executive OfficerDirectBuy422202617.482,00034,96028,317,827Form
    19Patel, PareshChief Executive OfficerDirectBuy420202616.942,00033,88027,409,140Form
    20Patel, PareshChief Executive OfficerDirectBuy417202616.762,00033,52027,084,378Form
    21Patel, PareshChief Executive OfficerDirectBuy415202616.152,00032,30226,035,300Form
    22Patel, PareshChief Executive OfficerDirectBuy413202615.382,00030,76024,731,240Form
    23Patel, PareshChief Executive OfficerDirectBuy409202615.052,00030,10024,140,396Form
    24Patel, PareshChief Executive OfficerDirectBuy407202614.262,00028,52022,816,185Form
    25Patel, PareshChief Executive OfficerDirectBuy403202613.792,00027,58022,036,599Form
    26Patel, PareshChief Executive OfficerDirectBuy401202614.442,00028,88023,017,548Form
    27Patel, PareshChief Executive OfficerDirectBuy330202613.892,00027,78022,085,281Form
    28Patel, PareshChief Executive OfficerDirectBuy326202614.812,00029,62023,488,853Form
    29Patel, PareshChief Executive OfficerDirectBuy323202614.932,00029,86023,619,454Form
    30Patel, PareshChief Executive OfficerDirectBuy323202615.502,00031,00024,490,202Form
    31Patel, PareshChief Executive OfficerDirectBuy323202615.362,00030,72024,238,280Form
    32Patel, PareshChief Executive OfficerDirectBuy318202616.302,00032,60025,689,012Form
    33Patel, PareshChief Executive OfficerDirectBuy318202615.682,00031,36024,680,524Form
    34Lopes, Robert A JR DirectBuy310202615.352,50038,3751,954,592Form
    35Mitchell, Kevin AndrewPresidentDirectBuy1222202519.5812,510244,94614,002,343Form
    36Bulku, SuelaChief Financial OfficerDirectBuy1222202519.5810,020196,1926,165,233Form
    37Baker, Brook ArmstrongGeneral CounselDirectBuy1222202519.5810,020196,1924,856,349Form
    38Spencer, Loreen M DirectBuy1107202521.004,00084,0002,310,000Form
    39Hurst, Irene DirectBuy1107202521.002,00042,0002,299,500Form
    40Mitchell, Kevin AndrewPresidentDirectBuy1107202521.001,00021,00014,755,125Form
    41Bulku, SuelaChief Financial OfficerDirectBuy1107202521.001,00021,0006,483,750Form
    42Baker, Brook ArmstrongGeneral CounselSpouseBuy1107202521.001,00021,00021,000Form
    43MacChiarola, James J DirectBuy1107202521.0020,000420,0002,856,000Form
    44Lopes, Robert A JR DirectBuy1107202521.0010,000210,0002,621,535Form
    45Patel, PareshChief Executive OfficerDirectBuy1107202521.0050,0001,050,00033,012,273Form

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