Hagerty Inc. Class A Common Stock (HGTY)

FairStock Score: 70/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a business I can understand, with durable demand and a fair price. Hagerty insures collector cars and sells club memberships to enthusiasts. That is a loyal niche, but I would not call it a wide moat. The long-term record is appealing: in fiscal years ended 2023, 2024, and 2025, filed revenue rose from $464.3M to $548.6M to $677.6M, and net income rose from $28.2M to $78.3M to $149.2M. Yet recent filed quarters are erratic. In fiscal Q1 2026, the quarter ended 2026-03-31, Hagerty lost $12.7M on $61.1M of revenue. In fiscal Q2 2026, the quarter ended 2026-06-30, it earned only $8.0M on $80.8M of revenue. That is not consistent earning power. At the close on 2026-10-13, the stock was $14.99 and the market cap was $1.1B. FairStock calculations put the P/E at 115.31 and P/B at 7.07. Its calculated ROE is 8.92%, ROCE is 5.66%, and D/E is 0.35. A high price-to-book and triple-digit P/E leave little margin of safety unless profits rebound sharply. The FairStock score is 70/100, and the computed Lynch category is FAST GROWER based on five-year profit growth of 71.1% and revenue growth of 19.4%, but current results contradict that label. For an insurer, I would focus on ROE, book value, leverage, reserves, and underwriting. CET1, NIM, and combined ratio are not in the data, so I cannot fully judge credit or underwriting risk. Decent niche, but not enough consistency or cheapness.

In plain English: Hagerty sells insurance for collector cars and runs a club and marketplace for car enthusiasts. The business has grown sales over recent years, but profits have become very uneven and the latest filed quarter was weak. At the current price, the shares look expensive compared with the small profit the company is producing.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer