Filing Flows › Financials › Ategrity Specialty Insurance (ASIC)
Ategrity Specialty Insurance (ASIC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Ategrity Specialty Insurance (ASIC) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $126M · 12¢ of every $1 of revenue kept as net profit · operating margin 11.6%
Ategrity Specialty Insurance made $126M in Q3 2026 (+8% Y/Y). Operating margin 11.6%, net earnings $14.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $125.6M in Q3 2026, up 8% year over year and down 15% from the previous quarter.
Operating profit was $14.6M, a 11.6% margin (down 14.0 points year over year). Operating profit fell $15.1M even though revenue rose $9.5M versus Q3 2025, so costs grew faster than sales. Total costs grew 29% against revenue growth of 8%. Net earnings were $14.6M, down 36% year over year ($11.0M including minority interests, which bore $3.5M of losses). The effective tax rate was 24.4%.
Operating cash flow was $73.7M (up 80% year over year), 668% of net income including minority interests. Non-cash charges added back $333K of depreciation and $216K of share-based compensation. Working capital and other items added $62.1M. Capital expenditures of $1.3M left free cash flow of $72.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $126M | +8% | 11.6% | $14.6M | $73.7M |
| Q2 2026 | 10-Q | Aug 13, 2026 | $148M | +46% | 31.3% | $33.5M | $38.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $129M | +55% | 26.5% | $25.5M | $42.0M |
| Q4 2025 | 10-K | Mar 6, 2026 | $123M | +18% | 26.9% | $25.3M | $55.3M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $116M | +31% | 25.6% | $22.7M | $41.1M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $102M | +37% | 21.9% | $17.6M | $29.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Ategrity Specialty Insurance
Ategrity Specialty Insurance Company Holdings is a specialty property and casualty insurance holding company dedicated exclusively to the excess and surplus (“E&S”) market for small to medium-sized businesses (“SMBs”) across the United States. Our underwriting operations are conducted through Ategrity Specialty Insurance Company, a Delaware-domiciled E&S insurer (“Ategrity Specialty”). We underwrite small and medium-sized commercial risks across selected industry verticals, including Retail, Real Estate, Hospitality, and Construction. The SMB segment of the E&S market is characterized by a high volume of smaller-premium policies, where distribution partners expect speed, clarity, and consistency in the underwriting process.
In its own words, from its 10-K, filed Mar 6, 2026.
Ategrity Specialty Insurance against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +3%. Operating margin: 11.6% against the peers' median 15.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ASIC Ategrity Specialty Insurance | Q3 2026 | $126M | +8% | 11.6% |
| BRK-B Berkshire Hathaway | Q2 2026 | $101.8B | +10% | 15.5% |
| PGR Progressive | Q3 2026 | $23.2B | +3% | 14.0% |
| ALL Allstate | Q3 2026 | $17.3B | +0.5% | 15.1% |
| CB Chubb | Q3 2026 | $16.2B | +0.3% | 21.0% |
| TRV Travelers Companies | Q3 2026 | $12.4B | -0.5% | 19.1% |
| AIG American International Group | Q3 2026 | $7.4B | +17% | 15.0% |
| HIG Hartford Insurance Group | Q3 2026 | $7.2B | +4% | 21.9% |
| L Loews | Q3 2026 | $4.8B | +2% | 8.5% |
Source: Ategrity Specialty Insurance 10-Q on SEC EDGAR · CIK 2040491 · Fire, Marine & Casualty Insurance
Guidance and outlook
13F: who owns ASIC and who is buying
More on ASIC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results