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Twfg vs Neptune Insurance Holdings: TWFG and NP compared
Twfg is the larger company: $79.9M of revenue in its latest quarter (Q3 2026) against $59.6M for Neptune Insurance Holdings (Q3 2026). Neptune Insurance Holdings is growing faster (+34% against +25% a year earlier). Neptune Insurance Holdings is more profitable, with an operating margin of 46.9% against 11.3%.
Where the money goes: TWFG and NP
Twfg (TWFG) · Q3 2026
Twfg, Q3 2026: revenue $79.9M (+25% year over year), operating margin 11.3%, net earnings $1.2M, operating cash flow $10.6M. The chart follows the revenue to costs, profit and cash.
Neptune Insurance Holdings (NP) · Q3 2026
Neptune Insurance Holdings, Q3 2026: revenue $59.6M (+34% year over year), operating margin 46.9%, net earnings $17.3M, operating cash flow $25.9M. The chart follows the revenue to costs, profit and cash.
| Twfg (TWFG) | Neptune Insurance Holdings (NP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $79.9M | $59.6M |
| Revenue growth, Y/Y | +25% | +34% |
| Operating margin | 11.3% | 46.9% |
| Net earnings | $1.2M | $17.3M |
| Net margin | 1.5% | 29.0% |
| Operating cash flow | $10.6M | $25.9M |
| Free cash flow | $7.5M | — |
Where the revenue comes from
Twfg
- Commission income: $73.4M (92%)
- Contingent income: $2.6M (3%)
- Policy fees: $1.6M (2%)
- Branch fees: $1.4M (2%)
Neptune Insurance Holdings
- Commission income: $45.9M (77%)
- Fee income: $13.7M (23%)
Questions
Which is bigger, Twfg or Neptune Insurance Holdings?
Twfg is the larger company: $79.9M of revenue in its latest quarter (Q3 2026) against $59.6M for Neptune Insurance Holdings (Q3 2026).
Is Twfg or Neptune Insurance Holdings growing faster?
Neptune Insurance Holdings is growing faster (+34% against +25% a year earlier).
Which is more profitable, Twfg or Neptune Insurance Holdings?
Neptune Insurance Holdings is more profitable, with an operating margin of 46.9% against 11.3%.
More: Twfg earnings · how Twfg makes money · Neptune Insurance Holdings earnings · how Neptune Insurance Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.