What is Hagerty's return on invested capital?

Hagerty (HGTY) reported return on invested capital of 110.5% in Q1 2026.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Hagerty HGTY Return on invested capital

Return on invested capital at other companies

ProgressivePGR

30.8%+3.0pp

The Hanover Insurance GroupTHG

19.9%+4.1pp

American International GroupAIG

6.6%+1.5pp

Arthur J. GallagherAJG

7.7%-2.7pp

Berkshire HathawayBRK.A

10.4%-4.9pp

OPENLANE, IncOPLN

13%+3.9pp

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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Operating margin8.1%—

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.

nopat/invested capital=110.5%

Based on trailing twelve months.

The official record: Hagerty’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hagerty's return on invested capital?: Hagerty (HGTY) reported return on invested capital of 110.5% in Q1 2026.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.