` Comparison: HRTG, PGR - Alpha Spread

HRTG
vs
PGR

Over the past 12 months, HRTG has significantly outperformed PGR, delivering a return of +156% compared to the PGR's 7% drop.

Valuation Growth Profitability Solvency Stocks Performance
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HRTG
PGR
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Stocks Compared:
HRTG PGR
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Valuation Comparison

HRTG Intrinsic Value
48.02 USD
Undervaluation 39%
Intrinsic Value
Price
PGR Intrinsic Value
285.61 USD
Undervaluation 22%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Heritage Insurance Holdings Inc
NYSE:HRTG
29.44 USD
Progressive Corp
NYSE:PGR
224.09 USD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
HRTG, PGR

HRTG
PGR
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Heritage Insurance Holdings Inc
Revenue
Progressive Corp
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
HRTG, PGR

HRTG
PGR
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Heritage Insurance Holdings Inc
NYSE:HRTG
FCF is not applicable for financial companies
Progressive Corp
NYSE:PGR
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

HRTG
PGR
LTM 3Y Avg 5Y Avg 10Y Avg
Heritage Insurance Holdings Inc
Not applicable for financial companies
Progressive Corp
Not applicable for financial companies

Operating Margin

HRTG
PGR
LTM 3Y Avg 5Y Avg 10Y Avg
Heritage Insurance Holdings Inc
Not applicable for financial companies
Progressive Corp
Not applicable for financial companies

Net Margin

HRTG
17.7%
PGR
12.6%

FCF Margin

HRTG
PGR
LTM 3Y Avg 5Y Avg 10Y Avg
Heritage Insurance Holdings Inc
Not applicable for financial companies
Progressive Corp
Not applicable for financial companies

ROE

HRTG
41.6%
PGR
34.2%

ROA

HRTG
6.3%
PGR
9.5%

ROIC

HRTG
PGR
LTM 3Y Avg 5Y Avg 10Y Avg
Heritage Insurance Holdings Inc
Not applicable for financial companies
Progressive Corp
Not applicable for financial companies

ROCE

HRTG
PGR
LTM 3Y Avg 5Y Avg 10Y Avg
Heritage Insurance Holdings Inc
Not applicable for financial companies
Progressive Corp
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HRTG, PGR

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HRTG
PGR
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Performance Gap
HRTG, PGR

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HRTG
PGR
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
HRTG, PGR

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HRTG
PGR
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