Fednat Holding's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Fednat Holding (FNHC) 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: Fednat Holding vs Its Competitors
- TTM: Trailing 12-month revenue of 235M vs 893,751M combined for its competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-28.1% annualized vs trailing 12 months), vs decelerating (-27.3%) for its tracked peer group.
- Growth: Fednat Holding generated -19.9% revenue growth year over year in Q1 2022, vs 3.3% for its competitors combined.
- Profitability: Its -104.0% net margin compares with 9.1% for the peer group.
- Peer revenue share: Fednat Holding 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 $0.79M compares with $1.20M for the peer group (0.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FNHC Sales vs. its Competitors, Q1 2022
Fednat Holding reported revenue contraction of 19.93 % year on year in Q1 2022, below its competitors' combined revenue growth of 3.26 %.
With a net margin of -103.98 %, Fednat Holding reported lower profitability than its competitors (9.06 %).
Fednat Holding generated 0.03 % of the combined sales of its peer group, up from 0.03 % a year earlier.
API endpoints for this dataset
Fednat Holding vs. its Competitors, Q1 2022
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 Fednat Holding reports; 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 Fednat Holding and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Fednat holding company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Fednat Holding's competitor groups requires a Commercial License.
For context: the Property & Casualty Insurance industry grew revenue 4.6% year over year, combined, vs -19.9% for Fednat Holding. Fednat Holding's share of combined industry revenue moved from 0.02% to 0.02%, a gain of 0.00 percentage points.
Fednat Holding's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Fednat holding company | No | No | No | Yes |
| Competitors combined (46) | ||||
| High-Confidence Competitors (2) | ||||
| Similar Growth & Profitability (8) | 37.50 % (3 of 8) | 12.50 % (1 of 8) | 12.50 % (1 of 8) | 62.50 % (5 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.
FNHC Stock Performance relative to its Competitors
FNHC Stock Performance relative to High-Confidence Competitors
FNHC 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 | Kingstone Companies Inc | 282.9% | Outperformed |
| 2 | Assurant Inc | 282.9% | Outperformed |
| 3 | Universal Insurance Holdings Inc | 282.9% | Outperformed |
| 4 | Travelers Companies inc | 282.9% | Outperformed |
| 5 | Safety Insurance Group Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Fednat Holding's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Fednat Holding's Comment on Competition and Industry Peers
In Florida, more than 50 companies compete with us in the homeowners’ insurance market. Three of our larger competitors are Citizens Property Insurance Corporation (“Citizens”), Universal Property and Casualty Insurance Company and Security Insurance Company. In Florida, more than one dozen companies compete with us in the commercial general liability insurance market.
Significant competition also emerged because of fundamental changes made to the property and casualty insurance business in Florida in recent years which resulted in a multi-pronged approach to address the cost of residential property insurance in Florida. First, the law increased the capacity of reinsurance that stabilized the reinsurance market to the benefit of the insurance companies writing properties lines in Florida. Secondly, the law provided for rate relief to all policyholders. The law also authorized the state-owned insurance company, Citizens, which is free of many of the restraints on private carriers such as surplus, ratios, income taxes and reinsurance expense, to reduce its premium rates and begin competing against private insurers in the residential property insurance market and expands the authority of Citizens to write commercial insurance.
Publicly Traded Peers of Fednat holding company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Fednat holding company |
0.17 | 235.04 |
 Progressive Corp |
137,568.04 | 91,735.00 |
 Travelers Companies inc |
85,223.50 | 48,921.00 |
 Allstate Corp |
69,451.76 | 70,137.00 |
 Metlife Inc |
66,475.44 | 79,403.00 |
 American International Group Inc |
43,675.29 | 27,728.00 |
| SUBTOTAL | 673,474.74 | 899,991.85 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Fednat holding company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Fednat Holding's Competitors Named by the Company
Competitive relationships identified from Fednat Holding reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Universal Property and Casualty Insurance Company | Company report | 85% |
| Citizens | Company report | 85% |
| Heritage Property and Casualty Insurance Company | Company report | 85% |
| Donegal Group Inc | Company report | 85% |
| Heritage Insurance Holdings Inc | Company report | 85% |
| Hci Group Inc | Company report | 85% |
| Hallmark Financial Services inc | Company report | 85% |
| Aspen Insurance Holdings Limited | Company report | 85% |
| Global Indemnity Group Llc | Company report | 85% |
| Universal Insurance Holdings Inc | Company report | 85% |
| American Coastal Insurance Corporation | Company report | 85% |
| Proassurance Corporation | Company report | 85% |
| Enstar Group Ltd | Company report | 85% |
| Fg Nexus Inc | Company report | 85% |
| National Security Group Inc. | Company report | 85% |
| James River Group Holdings Inc | Company report | 85% |
| Kingstone Companies Inc | Company report | 85% |
| Kingsway Financial Services Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Fednat Holding's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Fednat Holding'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 |
|---|---|
| Travelers Companies inc | Business Insurance 47.23 % |
| Allstate Corp | Allstate Protection 86.96 % |
| Metlife Inc | Group Benefits 33.54 % |
| American International Group Inc | North America Operating 34.61 % |
| Arch Capital Group Ltd | Insurance 41.61 % |
Source: operating segment revenue as reported in each company's reports (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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Fednat Holding'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 |
|---|---|---|---|
| Fednat holding company | 0 | 791,367 | -429,741 |
| Progressive Corp | 137,568 | 1,834,700 | 232,440 |
| Travelers Companies inc | 85,224 | 1,438,853 | 244,618 |
| Allstate Corp | 69,452 | 1,308,526 | 248,134 |
| Metlife Inc | 66,475 | 1,726,152 | 79,543 |
| American International Group Inc | 43,675 | 1,254,661 | 148,914 |
| PEERS TOTAL | 673,475 | 1,201,589 | 189,888 |
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Fednat Holding's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. 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 88.00 % |
| Ncr Atleos Corporation | United States 46.86 % |
| Leaf Group Ltd | US 87.97 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Fednat Holding'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 (89 companies). See the full Property & Casualty Insurance industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | -3.61 % | 46.18 % (avg) | -49.8 pp |
| Operating Margin | -48.64 % | industry median | -55.8 pp |
| EBITDA Margin | -49.37 % | 23.19 % (avg) | -72.6 pp |
| Capital Intensity (Capex / Revenue) | 0.73 % | 0.92 % (avg) | -0.2 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.
Fednat Holding's Valuation vs Competitive Position
Valuation multiples vs the Property & Casualty Insurance industry average (89 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. See the full Property & Casualty Insurance industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 11.7x | - |
| EV / EBITDA | - | 5.1x | - |
| P/B | 0.4x | 2.1x | -1.7x |
| Return on Equity | -209.96 % | industry aggregate | -225.14 % |
| Return on Invested Capital | -17.89 % | 7.87 % (avg) | -25.76 % |
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.
Fednat Holding's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 64.86 % | 24.52 % | 26.61 % | 23.79 % | 1.09 % | 4.76 % | 4.07 % | -43.14 % |
| Operating Margin | 28.55 % | 27.85 % | -23.23 % | 2.37 % | 12.31 % | 2.77 % | -24.08 % | -38.29 % |
| Return on Invested Capital | 10.42 % | 8.78 % | -8.53 % | 1.10 % | 6.12 % | 1.25 % | -11.14 % | -13.16 % |
| P/E | - | 9.7x | - | 25.2x | 9.0x | 186.4x | - | - |
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.
Fednat Holding's Strategic Group Map
Fednat Holding is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Fednat Holding's trailing-12-month revenue growth of -36.3% and operating margin of -48.6% compares with an average of -9.9% growth and -17.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Fednat Holding sits below that peer average on growth and below it on margin.
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.
Fednat Holding'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 |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.73 % vs industry average 0.92 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Fednat Holding's dedicated Suppliers and Customers pages, not here.
Fednat Holding's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Fednat Holding falls in the High attractiveness / Low strength cell: Selective.
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.
Fednat Holding'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 55.8 points below the industry median.
- Return on equity 225.1 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-28.1% annualized vs trailing 12 months).
- 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 (-27.3% annualized).
Methodology: see Methodology: SWOT Analysis.
Fednat Holding'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 |
|---|---|---|---|
| Fednat holding company | 0.12 | 0.52 | 1.95 |
| Progressive Corp | 0.06 | 1.06 | 0.24 |
| Travelers Companies inc | 0.01 | 1.08 | 0.29 |
| Allstate Corp | 0.02 | 0.15 | 0.25 |
| Metlife Inc | 0.08 | 0.29 | 0.70 |
| American International Group Inc | 0.03 | 1.44 | 0.11 |
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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.
Fednat Holding'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 |
|---|---|---|---|
| Fednat holding company | Q1 2022 | -19.9 % | - |
| Progressive Corp | Q3 2026 | +3.0 % | -2.8 % |
| Travelers Companies inc | Q3 2026 | -0.5 % | +1.5 % |
| Allstate Corp | Q2 2026 | +11.8 % | +55.8 % |
| Metlife Inc | Q2 2026 | +10.5 % | +6.0 % |
| American International Group Inc | Q3 2026 | +17.2 % | +62.0 % |
| PEERS TOTAL | +7.3 % | -20.4 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Fednat Holding'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 |
|---|---|---|---|
| Fednat holding company | Q1 2022 | - | -71.3 % |
| Progressive Corp | Q3 2026 | +1,016.0 % | +75.8 % |
| Travelers Companies inc | Q3 2026 | +0.4 % | - |
| Allstate Corp | Q2 2026 | +6.1 % | - |
| Metlife Inc | Q2 2026 | +1,959.3 % | - |
| American International Group Inc | Q3 2026 | +9.9 % | - |
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Fednat Holding's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Fednat holding company | - | - | - |
| Progressive Corp | 9.34% | 10.98% | 35.44% |
| Travelers Companies inc | 5.82% | 8.95% | 26.20% |
| Allstate Corp | 10.88% | 16.50% | 43.12% |
| Metlife Inc | 0.49% | 0.77% | 12.93% |
| American International Group Inc | 2.03% | 2.32% | 8.17% |
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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).
Fednat Holding's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Fednat holding company | - | 0.00 |
| Progressive Corp | 11.90 | 1.50 |
| Travelers Companies inc | 10.66 | 1.74 |
| Allstate Corp | 5.37 | 0.99 |
| Metlife Inc | 19.72 | 0.84 |
| American International Group Inc | 13.63 | 1.58 |
| PEERS AVERAGE | 4.74 | 0.75 |
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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.