(PRA) ProAssurance - Overview
Sector: Financial Services | Industry: Insurance - Property & Casualty | Exchange: NYSE (USA) | Market Cap: 1.273m USD | Total Return: 6.4% in 12m
Avg Turnover: 20.7M
Qual. Beats: 0
Rev. Trend: -87.5%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
ProAssurance Corporation (PRA) is a Birmingham-based insurance provider specializing in professional liability and workers compensation. The company operates through four distinct segments: Specialty Property and Casualty, Workers Compensation Insurance, Segregated Portfolio Cell (SPC) Reinsurance, and Corporate. Its primary focus is providing liability coverage to healthcare providers, legal professionals, and life sciences companies, alongside alternative risk solutions like captive cell programs.
The company operates within the specialized long-tail insurance sector, where claims may be filed years after a policy is issued, requiring disciplined actuarial management and significant loss reserves. ProAssurance utilizes a multi-channel distribution strategy, leveraging both an internal business development team and a network of independent brokers to reach healthcare institutions and legal firms. For a more granular look at these financial metrics, ValueRay provides additional historical data.
Founded in 1976, the firm also offers custom workers compensation products, including guaranteed cost and retrospectively rated policies. By managing SPCs for associations and individual companies, ProAssurance earns fee income from administrative services, risk management, and asset management, diversifying its revenue beyond traditional premiums.
- Medical professional liability loss severity trends impact underwriting margins and profitability
- Workers compensation frequency and wage inflation affect segment loss ratios
- Investment income sensitivity to interest rate fluctuations drives bottom-line earnings
- Reserve development volatility in legacy books influences long-term capital adequacy
- Competitive pricing pressure in the specialty casualty market limits premium growth
| Net Income: 65.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -0.36 > 1.0 |
| NWC/Revenue: 105.9% < 20% (prev 86.67%; Δ 19.23% < -1%) |
| CFO/TA -0.01 > 3% & CFO -35.3m > Net Income 65.2m |
| Net Debt (-3.64b) to EBITDA (121.1m): -30.04 < 3 |
| Current Ratio: 1.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (51.8m) vs 12m ago 0.71% < -2% |
| Gross Margin: 33.66% > 18% (prev 0.22%; Δ 3.34k% > 0.5%) |
| Asset Turnover: 19.73% > 50% (prev 20.17%; Δ -0.44% > 0%) |
| Interest Coverage Ratio: 5.22 > 6 (EBITDA TTM 121.1m / Interest Expense TTM 20.8m) |
| A: 0.21 (Total Current Assets 4.71b - Total Current Liabilities 3.57b) / Total Assets 5.41b |
| B: 0.28 (Retained Earnings 1.49b / Total Assets 5.41b) |
| C: 0.02 (EBIT TTM 108.4m / Avg Total Assets 5.47b) |
| D: 0.34 (Book Value of Equity 1.40b / Total Liabilities 4.08b) |
| Altman-Z'' = 2.78 = A |
| DSRI: 0.96 (Receivables 588.8m/634.5m, Revenue 1.08b/1.11b) |
| GMI: 0.66 (GM 33.66% / 22.05%) |
| AQI: 0.93 (AQ_t 0.13 / AQ_t-1 0.14) |
| SGI: 0.97 (Revenue 1.08b / 1.11b) |
| TATA: 0.02 (NI 65.2m - CFO -35.3m) / TA 5.41b) |
| Beneish M = -3.42 (Cap -4..+1) = AA |
As of May 26, 2026, the stock is trading at USD 24.62 with a total of 625,900 shares traded.
Over the past week, the price has changed by +0.45%,
over one month by -0.53%,
over three months by +0.20% and
over the past year by +6.35%.
ProAssurance has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold PRA.
- StrongBuy: 0
- Buy: 0
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 25 | 1.5% |
P/E Trailing = 19.5714
P/E Forward = 18.2815
P/S = 1.1618
P/B = 0.9448
P/EG = 0.7799
Revenue TTM = 1.08b USD
EBIT TTM = 108.4m USD
EBITDA TTM = 121.1m USD
Long Term Debt = 294.3m USD (from longTermDebt, last quarter)
Short Term Debt = 125.0m USD (from shortTermDebt, last quarter)
Debt = 447.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 14.0m
Net Debt = -3.64b USD (calculated: Debt 447.3m - CCE 4.09b)
Enterprise Value = 1.27b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 5.22 (Ebit TTM 108.4m / Interest Expense TTM 20.8m)
EV/FCF = -33.13x (Enterprise Value 1.27b / FCF TTM -38.4m)
FCF Yield = -3.02% (FCF TTM -38.4m / Enterprise Value 1.27b)
FCF Margin = -3.56% (FCF TTM -38.4m / Revenue TTM 1.08b)
Net Margin = 6.04% (Net Income TTM 65.2m / Revenue TTM 1.08b)
Gross Margin = 33.66% ((Revenue TTM 1.08b - Cost of Revenue TTM 716.0m) / Revenue TTM)
Gross Margin QoQ = 33.67% (prev 52.04%)
Tobins Q-Ratio = 0.24 (Enterprise Value 1.27b / Total Assets 5.41b)
Interest Expense / Debt = 4.64% (Interest Expense 20.8m / Debt 447.3m)
Taxrate = 7.96% (732k / 9.19m)
NOPAT = 99.7m (EBIT 108.4m * (1 - 7.96%))
Current Ratio = 1.32 (Total Current Assets 4.71b / Total Current Liabilities 3.57b)
Debt / Equity = 0.33 (Debt 447.3m / totalStockholderEquity, last quarter 1.34b)
Debt / EBITDA = -30.04 (Net Debt -3.64b / EBITDA 121.1m)
Debt / FCF = 94.72 (negative FCF - burning cash) (Net Debt -3.64b / FCF TTM -38.4m)
Total Stockholder Equity = 1.32b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.19% (Net Income 65.2m / Total Assets 5.41b)
RoE = 4.95% (Net Income TTM 65.2m / Total Stockholder Equity 1.32b)
RoCE = 6.73% (EBIT 108.4m / Capital Employed (Equity 1.32b + L.T.Debt 294.3m))
RoIC = 5.81% (NOPAT 99.7m / Invested Capital 1.72b)
WACC = 7.14% (E(1.27b)/V(1.72b) * Re(8.15%) + D(447.3m)/V(1.72b) * Rd(4.64%) * (1-Tc(0.08)))
Discount Rate = 8.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 0.57%
[DCF] Fair Price = unknown (Cash Flow -38.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.04 | # QB: 0
Revenue Correlation: -87.50 | Revenue CAGR: -1.85% | SUE: 0.08 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.27 | Chg30d=-7.02% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.26 | Chg30d=-8.77% | Revisions=+20% | Analysts=2
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=-4.59% | Revisions=+20% | GrowthEPS=-35.8% | GrowthRev=-6.9%
EPS next Year (2027-12-31): EPS=1.13 | Chg30d=+1.80% | Revisions=+20% | GrowthEPS=+9.0% | GrowthRev=+0.4%
[Analyst] Revisions Ratio: +20%