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Safety Insurance Group (SAFT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Safety Insurance Group (SAFT) Q3 2026 earnings results →
Q3 2026 Revenue up 0% year over year to $328M · 9¢ of every $1 of revenue kept as net profit · operating margin 11.7%
Safety Insurance Group made $328M in Q3 2026 (+0.4% Y/Y). Operating margin 11.7%, net earnings $30.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 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 $327.8M in Q3 2026, roughly flat year over year and up 1% from the previous quarter.
Operating profit was $38.4M, a 11.7% margin (up 0.6 points year over year). Of the extra revenue versus Q3 2025, 190% reached operating profit, above the 11% margin then. Total costs fell 0% while revenue was flat. Net earnings were $30.0M, up 6% year over year. The effective tax rate was 21.8%.
Operating cash flow was $57.7M (down 32% year over year), 192% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $25.0M. Capital expenditures of $1.0M left free cash flow of $56.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $328M | +0.4% | 11.7% | $30.0M | $57.7M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $326M | +3% | 13.4% | $34.5M | $38.3M |
| Q1 2026 | 10-Q | May 8, 2026 | $315M | +4% | -5.7% | −$14.3M | −$17.0M |
| Q4 2025 | 10-K | Feb 27, 2026 | $319M | +11% | 8.0% | $20.1M | $73.5M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $327M | +11% | 11.1% | $28.3M | $85.5M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $316M | +17% | 11.6% | $28.9M | $32.3M |
| Q1 2025 | 10-Q | May 9, 2025 | $301M | +12% | 9.4% | $21.9M | $3.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Safety Insurance Group
We are a leading provider of private passenger automobile, commercial automobile, and homeowners insurance in Massachusetts. In addition to these coverages, we offer a portfolio of other insurance products, including dwelling fire, umbrella and business owner policies. Operating exclusively in Massachusetts, New Hampshire and Maine through our insurance company subsidiaries, Safety Insurance Company ("Safety Insurance"), Safety Indemnity Insurance Company ("Safety Indemnity"), Safety Property and Casualty Insurance Company ("Safety P&C"), and Safety Northeast Insurance Company (“Safety Northeast”) (together referred to as the "Insurance Subsidiaries"), we have established strong relationships with independent insurance agents, who numbered 797 in 1,063 locations throughout these three states during 2025.
In its own words, from its 10-K, filed Feb 27, 2026.
Safety Insurance Group against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.4% against the peers' median +2%. Operating margin: 11.7% against the peers' median 15.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SAFT Safety Insurance Group | Q3 2026 | $328M | +0.4% | 11.7% |
| 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: Safety Insurance Group 10-Q on SEC EDGAR · CIK 1172052 · Fire, Marine & Casualty Insurance
13F: who owns SAFT and who is buying
More on SAFT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results