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TWFG, Inc.

TWFG· Nasdaq· Insurance Agents, Brokers & Service

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
21.4%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
–
We record prices for the companies we cover; TWFG is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
15.1M
Revenue
$248.5M
Free cash flow
$53.1M
Owner earnings
$48.6M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
14.9%
Net
–
Free cash flow
21.4%
Owner earnings
19.5%
Stock pay
1.8%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
–
ROE, 5 yr avg
–

Growth (CAGR)

Revenue, 3 yr
17.3%
Revenue, 5 yr
–
Diluted EPS, 3 yr
–
Diluted EPS, 5 yr
–
Free cash flow, 3 yr
27.5%
Free cash flow, 5 yr
–

Financial health · FY2025

Cash and investments
$155.9M
Total debt
$4.0M
Net cash
$151.9M
Debt/Equity
0.0x
Debt/FCF
0.1x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
–

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$248.5M

+17.3% a year over 3 years

FY2022: Revenue $153.9MFY2023: Revenue $172.0MFY2024: Revenue $203.8MFY2025: Revenue $248.5M
FY2022FY2025

Margins

Operating14.9%Net–

FY2025

FY2022: Operating 15.4%, Net 0.0%FY2023: Operating 14.8%, Net 0.0%FY2024: Operating 13.7%, Net 1.3%FY2025: Operating 14.9%, Net –
FY2022FY2025

Free cash flow and owner earnings

Free cash flow$53.1MOwner earnings$48.6M

Free cash flow +27.5% a year

FY2022: Free cash flow $25.6M, Owner earnings $25.6MFY2023: Free cash flow $29.9M, Owner earnings $29.9MFY2024: Free cash flow $37.3M, Owner earnings $35.1MFY2025: Free cash flow $53.1M, Owner earnings $48.6M
FY2022FY2025

Diluted shares

15.1M

+0.8% over 3 years, net dilution

FY2022: Diluted shares –FY2023: Diluted shares –FY2024: Diluted shares 15.0MFY2025: Diluted shares 15.1M
FY2022FY2025

Return on invested capital

–

FY2025

FY2022: ROIC –FY2023: ROIC 56.5%FY2024: ROIC –FY2025: ROIC –
FY2022FY2025

Net cash

$151.9M

$151.9M more cash than debt

FY2022: Net cash –FY2023: Net cash -$13.9MFY2024: Net cash $187.9MFY2025: Net cash $151.9M
FY2022FY2025

Every figure, year by year

Fiscal yearFY2022FY2023FY2024FY2025
The business
Revenue$153.9M$172.0M$203.8M$248.5M
Revenue growth–11.8%18.4%22.0%
Gross margin––––
Operating margin15.4%14.8%13.7%14.9%
Net income$0$0$2.7M–
Net margin0.0%0.0%1.3%–
Diluted EPS––$0.19$0.53
Return on invested capital?–56.5%––
Cash
Operating cash flow$25.8M$30.2M$40.5M$53.5M
Capital expenditure$115.0K$260.0K$3.2M$356.0K
Free cash flow$25.6M$29.9M$37.3M$53.1M
Stock-based compensation$0$0$2.2M$4.6M
Owner earnings?$25.6M$29.9M$35.1M$48.6M
Free cash flow per share––$2.49$3.52
Capital allocation
Dividends paid––––
Share repurchases––––
Diluted shares––15.0M15.1M
Share count change?–––0.8%
Balance sheet
Cash and equivalents$22.3M$39.3M$195.8M$155.9M
Short-term investments––––
Total debt–$53.2M$7.8M$4.0M
Net debt–$13.9M-$187.9M-$151.9M
Shareholders' equity–$31.1M$73.9M$83.4M

Latest filings

All on EDGAR
2026-08-0610-QQuarterly report
2026-08-058-KEarnings release
2026-05-0810-QQuarterly report
2026-05-078-KEarnings release
2026-04-10DEF 14AProxy statement
2026-03-1010-KAnnual report
2026-02-258-KEarnings release
2025-11-1210-QQuarterly report
2025-11-128-KEarnings release
2025-08-1310-QQuarterly report

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