What is Hagerty's operating margin?

Hagerty (HGTY) reported operating margin of 8.1% in Q3 2025.

What is the long-term trend for Hagerty's operating margin?

Over 3 years (2020 to 2024), Hagerty's operating margin has grown at a 19.0% compound annual growth rate (CAGR), from 3.2% to 5.3%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Hagerty HGTY Operating margin

Operating margin at other companies

OPENLANE, IncOPLN

10.9%+0.1pp

ACV Auctions Inc.ACVA

-7.4%-1.9pp

CarGurus, Inc.CARG

25.4%+3.4pp

Penske Automotive GroupPAG

4%-0.3pp

eBayEBAY

19.6%-2.7pp

CopartCPRT

36.6%+0.8pp

Other financials

Income statement

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Revenue$311.8M-5.0%

Operating income$34.3M+240%

Net income-$12.7M-147%

EPS (diluted)-$0.06-186%

Balance sheet

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Cash & equivalents$366.7M+28.1%

Total debt$272.5M+50.3%

Total equity$218.7M+34.2%

Total assets$2.0B+11.5%

Cash flow

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Operating cash flow$16.3M-62.9%

CapEx$7.7M+43.1%

Free cash flow$8.5M-77.8%

Valuation

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Market cap$1.17B+30.8%

Enterprise value$1.07B+36.3%

P/E10.7×+1.5×

P/S0.8×+0.1×

Profitability

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Net margin7.5%0.0pp

FCF margin11.4%—

Returns & leverage

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Return on equity57.2%-18.7pp

Debt / equity1.2×+0.1×

Current ratio1×0.0×

Where this comes from

Calculated from Hagerty’s reported figures.

operating income/total revenue=8.1%

Based on trailing twelve months.

The official record: Hagerty’s 10-Q, filed November 4, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hagerty's operating margin?: Hagerty (HGTY) reported operating margin of 8.1% in Q3 2025.
What is the long-term trend for Hagerty's operating margin?: Over 3 years (2020 to 2024), Hagerty's operating margin has grown at a 19.0% compound annual growth rate (CAGR), from 3.2% to 5.3%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.