Hallmark Financial Services Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Hallmark Financial Services Inc (HALL) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Hallmark Financial Services Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 166M vs 894,673M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (+1.0% annualized vs trailing 12 months), vs decelerating (-13.0%) for its tracked peer group.
- Growth: Hallmark Financial Services Inc generated 9.6% revenue growth year over year in Q3 2023, vs 6.9% for its tracked competitors combined.
- Profitability: Its -51.3% net margin compares with -2.6% for the peer group.
- Peer revenue share: Hallmark Financial Services Inc accounted for 0.0% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.27M compares with $1.19M for the peer group (0.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
HALL Sales vs. its Competitors, Q3 2023
Hallmark Financial Services Inc reported revenue growth of 9.59 % year on year in Q3 2023, above its competitors' combined revenue growth of 6.94 %.
With a net margin of -51.33 %, Hallmark Financial Services Inc reported lower profitability than its competitors (-2.61 %).
Hallmark Financial Services Inc generated 0.02 % of the combined sales of its peer group, up from 0.02 % a year earlier.
Hallmark Financial Services Inc vs. its Competitors, Q3 2023
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Hallmark Financial Services Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Hallmark Financial Services inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Hallmark Financial Services Inc's competitor groups requires a Commercial License.
For context: the Property & Casualty Insurance industry grew revenue 5.6% year over year, combined, vs 9.6% for Hallmark Financial Services Inc. Hallmark Financial Services Inc's share of combined industry revenue moved from 0.01% to 0.02%, a gain of 0.00 percentage points.
Hallmark Financial Services Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Hallmark Financial Services inc | No | No | No | Yes |
| Competitors combined (48) | ||||
| Similar Growth & Profitability (8) | 0.00 % (0 of 8) | 37.50 % (3 of 8) | 25.00 % (2 of 8) | 100.00 % (8 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
HALL Stock Performance relative to its Competitors
HALL Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | United Fire Group Inc | 282.9% | Outperformed |
| 2 | Universal Insurance Holdings Inc | 282.9% | Outperformed |
| 3 | Safety Insurance Group Inc | 282.9% | Outperformed |
| 4 | Heritage Insurance Holdings Inc | 282.9% | Outperformed |
| 5 | Kingstone Companies Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Hallmark Financial Services Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Hallmark Financial Services Inc's Comment on Competition and Industry Peers
The property/casualty insurance market, our primary source of revenue, is highly competitive and, except for regulatory considerations, has very few barriers to entry. According to A.M. Best, there were 3,059 property/casualty insurance companies and 2,089 property/casualty insurance groups operating in North America as of July 13, 2015. Our Standard Commercial P&C operating unit competes with a variety of large national standard commercial lines carriers such as Liberty Mutual Group, Travelers Companies, Inc., Cincinnati Financial Corporation and The Hartford Financial Services Group, as well as numerous smaller regional companies. The primary competition for the occupational accident insurance product offered by our Standard Commercial P&C unit includes such carriers as Great American Insurance Group, One Beacon Insurance Company, North American Insurance Company and Service Lloyds. The primary competition for our MGA Commercial Products operating unit includes such carriers as Atlantic Casualty Insurance Company, Colony Insurance Company, National Casualty Company, National Liability & Fire Insurance Company, Nationwide Specialty Insurance Company, Northland Insurance Company, and Progressive County Mutual. Our Specialty Commercial operating unit considers its primary competition for our excess & umbrella and general liability insurance products to include such carriers as American International Group, Inc., First Mercury Insurance Company, Axis Insurance Company, XL Specialty Insurance, Navigators, and W.R. Berkley Corporation and, to a lesser extent, a number of national standard lines carriers such as Travelers Companies, Inc. and Liberty Mutual Group. The primary competitors for our general aviation insurance products produced by our Specialty Commercial operating unit are Phoenix Aviation Managers, Starr Aviation, Chartis, United States Specialty Insurance Company, W. Brown & Company, United States Aircraft Insurance Group, Global Aerospace and Allianz Aviation Managers. The primary competition for the medical professional liability insurance products produced by our Specialty Commercial operating unit are Admiral Insurance Company, Catlin Insurance Company, CNA Financial Corporation, Evanston Insurance Company, Kinsale Insurance Company, Lexington Insurance Company, ProAssurance Corporation, RSUI Group and TDC Companies. The primary competition for our primary/excess commercial property insurance products includes such carriers as ACE Westchester, Aspen Insurance, Axis Insurance Company, Endurance Specialty Holdings, Ltd., Liberty Insurance Underwriters and Markel Insurance Company. Although our Specialty Personal Lines operating unit competes with large national insurers such as Allstate Corporation, GEICO Corporation and Progressive Insurance Company, as a participant in the non-standard personal automobile marketplace its competition is most directly associated with numerous regional companies and managing general agencies. Our competitors include entities that have, or are affiliated with entities that have, greater financial and other resources than we have.
Publicly Traded Peers of Hallmark Financial Services inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Hallmark Financial Services inc | 0.00 | 165.95 |
| Progressive Corp | 122,372.37 | 91,055.00 |
| Travelers Companies inc | 77,570.98 | 48,979.00 |
| Metlife Inc | 61,985.96 | 79,403.00 |
| Allstate Corp | 58,958.21 | 70,137.00 |
| American International Group Inc | 38,833.55 | 26,636.00 |
| SUBTOTAL | 637,011.02 | 907,027.84 |
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Sources: Hallmark Financial Services inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Hallmark Financial Services inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Hallmark Financial Services Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| American Millennium Insurance Company | Named by the company | 85% |
| Canal Insurance Company | Named by the company | 85% |
| Clear Blue Insurance Company | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Hallmark Financial Services Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Hallmark Financial Services Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Hallmark Financial Services inc | Commercial Lines Segment 50.77 % |
| Travelers Companies inc | Business Insurance 45.68 % |
| Metlife Inc | Group Benefits 36.13 % |
| Allstate Corp | Allstate Protection 87.37 % |
| American International Group Inc | North America Operating 30.08 % |
| The Hartford Insurance Group Inc | P&C Business Insurance 55.32 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Hallmark Financial Services Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Hallmark Financial Services inc | 0 | 267,653 | -128,839 |
| Progressive Corp | 122,372 | 1,821,100 | 233,900 |
| Travelers Companies inc | 77,571 | 1,440,559 | 243,765 |
| Metlife Inc | 61,986 | 1,726,152 | 79,543 |
| Allstate Corp | 58,958 | 1,308,526 | 248,134 |
| American International Group Inc | 38,834 | 1,205,249 | 134,208 |
| PEERS TOTAL | 637,011 | 1,189,638 | 203,245 |
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Hallmark Financial Services Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Brown and Brown Inc | US 86.46 % |
| Ncr Atleos Corporation | United States 47.84 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Hallmark Financial Services Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 65 companies in Hallmark Financial Services Inc's industry classification, broader than the peer set above. Market cap in millions of $.Hallmark Financial Services Inc ranks #0 of 65 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,582, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 2 | Chubb Limited | 130,703 | 7.02 % |
| 3 | Progressive Corp | 119,954 | 6.44 % |
| 4 | Travelers Companies inc | 77,434 | 4.16 % |
| 5 | Allstate Corp | 58,813 | 3.16 % |
| 6 | American International Group Inc | 1,234 | 5.2% |
| 7 | The Hartford Insurance Group Inc | 1,234 | 5.2% |
| 8 | Arch Capital Group Ltd | 1,234 | 5.2% |
| 9 | W R Berkley Corp | 1,234 | 5.2% |
| 10 | Cincinnati Financial Corporation | 1,234 | 5.2% |
| 11 | Markel Group Inc | 1,234 | 5.2% |
| 0 | Hallmark Financial Services inc | 0 | 0.00 % |
Market cap and industry share for the rest of Hallmark Financial Services Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-08-21.
Hallmark Financial Services Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Property & Casualty Insurance industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (75 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | -26,815.08 % | 49.36 % (avg) | -26,864.4 pp |
| Operating Margin | -26,815.22 % | industry median | -26,840.7 pp |
| EBITDA Margin | -63.69 % | 13.82 % (avg) | -77.5 pp |
| Capital Intensity (Capex / Revenue) | 0.53 % | 0.95 % (avg) | -0.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Hallmark Financial Services Inc's Valuation vs Competitive Position
Valuation multiples vs the Property & Casualty Insurance industry average (75 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 13.2x | - |
| EV / EBITDA | - | 6.2x | - |
| P/B | 20.8x | 1.9x | +18.9x |
| Return on Equity | -361.26 % | industry aggregate | -375.00 % |
| Return on Invested Capital | -3,272.75 % | 5.86 % (avg) | -3,278.61 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Hallmark Financial Services Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 10.39 % | 0.95 % | 2.55 % | -1.62 % | 28.24 % | -1.57 % | -15.47 % | -39.04 % |
| Operating Margin | 37.54 % | 31.86 % | 24.58 % | 31.84 % | 25.03 % | 3.64 % | 31.86 % | -18,062.00 % |
| Return on Invested Capital | 17.25 % | 13.75 % | 10.67 % | 13.42 % | 11.93 % | 2.11 % | 16.73 % | -3,989.68 % |
| P/E | 10,527.6x | 30,523.3x | - | 17.7x | 27.7x | - | 8,506.3x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Hallmark Financial Services Inc's Strategic Group Map
Every company in Hallmark Financial Services Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Hallmark Financial Services Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Hallmark Financial Services Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,582 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.53 % vs industry average 0.95 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Hallmark Financial Services Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Hallmark Financial Services Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Hallmark Financial Services Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Hallmark Financial Services Inc falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Hallmark Financial Services Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 26,840.7 points below the industry median.
- Return on equity 375.0 points below the industry aggregate.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-13.0% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Hallmark Financial Services Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Hallmark Financial Services inc | 0.11 | 0.84 | 2.53 |
| Progressive Corp | 0.06 | 1.06 | 0.23 |
| Travelers Companies inc | 0.01 | 1.08 | 0.28 |
| Metlife Inc | 0.08 | 0.29 | 0.70 |
| Allstate Corp | 0.02 | 0.15 | 0.25 |
| American International Group Inc | 0.04 | 1.44 | 0.17 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Hallmark Financial Services Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Hallmark Financial Services inc | Q3 2023 | +9.6 % | - |
| Progressive Corp | Q2 2026 | +7.3 % | +4.3 % |
| Travelers Companies inc | Q2 2026 | +0.3 % | +45.3 % |
| Metlife Inc | Q2 2026 | +10.5 % | +6.0 % |
| Allstate Corp | Q2 2026 | +11.8 % | +55.8 % |
| American International Group Inc | Q2 2026 | -0.1 % | -17.1 % |
| PEERS TOTAL | +7.7 % | +55.5 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Hallmark Financial Services Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Hallmark Financial Services inc | Q3 2023 | -70.6 % | -92.4 % |
| Progressive Corp | Q2 2026 | +1,027.3 % | +35.3 % |
| Travelers Companies inc | Q2 2026 | -0.9 % | - |
| Metlife Inc | Q2 2026 | +1,959.3 % | - |
| Allstate Corp | Q2 2026 | +6.1 % | - |
| American International Group Inc | Q2 2026 | +6.3 % | - |
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Hallmark Financial Services Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Hallmark Financial Services inc | - | - | - |
| Progressive Corp | 9.51% | 11.22% | 35.40% |
| Travelers Companies inc | 5.78% | 10.84% | 25.58% |
| Metlife Inc | 0.49% | 0.77% | 12.93% |
| Allstate Corp | 10.88% | 16.50% | 43.12% |
| American International Group Inc | 1.83% | 2.10% | 7.26% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Hallmark Financial Services Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Hallmark Financial Services inc | - | 0.00 |
| Progressive Corp | 10.51 | 1.34 |
| Travelers Companies inc | 9.72 | 1.58 |
| Metlife Inc | 18.39 | 0.78 |
| Allstate Corp | 4.56 | 0.84 |
| American International Group Inc | 13.45 | 1.46 |
| PEERS AVERAGE | 4.11 | 0.70 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.