AII American Integrity Insurance Group, Inc.

Overview and Growth

Fiscal 2025 results for American Integrity Insurance Group, Inc. combined $276.49M of revenue with net income of $99.62M and an operating cash inflow of $138.19M. At $276.49M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 35.3% from $204.35M in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $5.65, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 91.5% increase from fiscal 2024 diluted EPS of $2.95. At period end, total assets were $1.23B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.23x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Net income came to $99.62M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 36.0% margin after operating costs and the remaining recognized items. Pretax income was $115.06M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 41.6%, adding a pre-tax profitability layer between revenue and net income. The company recognized $15.44M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 13.4% of pretax income, showing the tax burden absorbed by the year’s earnings. Return on period-end equity was 29.6%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 8.1%, connecting net income with the company’s total asset base. The company moved from fiscal 2024 net income of $39.74M to $99.62M, with the current outcome ending above that comparison.

Liquidity and Capital Structure

The company held $1.23B of assets against $888.05M of liabilities and $337.02M of equity, revealing how the asset base was financed. Reported cash and equivalents were $203.90M, separating immediately recognizable cash resources from the rest of the current-asset base. Total debt was $618.00K, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.0x, showing how much debt the company carried for each unit of book equity. Debt represented 0.1% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 72.5%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 16.6%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 2.2% higher than fiscal 2024 assets of $1.20B, measuring the company’s own balance-sheet change. Reported equity changed 107.5% from $162.39M in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 17.7% from $173.22M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $138.19M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.39x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $5.02M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 3.6%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $133.18M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 48.2%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 10.9%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.