XVARY Composite Score
54
/ 100
Below Average
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
Universal sells homeowners insurance, handles claims, and runs an online quote platform that tries to keep your premium inside its ecosystem.
How it gets paid
Last year Universal made ~$1.60B in revenue.
Why it's growing
Revenue grew 5.5% last year. One quarter’s $2.28 diluted GAAP EPS exceeded all of FY2024’s $2.01 diluted GAAP EPS—that is the definition of lumpy homeowners P/C earnings.
What just happened
Q4 2025 total revenues reached ~$407.9M, with diluted GAAP EPS $2.28.
At a Glance
B+ balance sheet — decent shape, but not bulletproof
10/100 earnings predictability — expect surprises
~5.4x trailing p/e (vs ~$6.32 FY2025 GAAP EPS) — cheap on trailing earnings, but read the weather report
1.9% dividend yield — cash in your pocket every quarter
12.4% return on capital — nothing to write home about
XVARY composite: 54/100 — below average
What They Do
Universal sells homeowners insurance, handles claims, and runs an online quote platform that tries to keep your premium inside its ecosystem.
This is an integrated insurer, not a storefront. UVE underwrites policies, administers claims, and negotiates reinsurance under one roof. If your insurer controls pricing, claims, and distribution, it can react faster when storms or loss costs hit.
How They Make Money
~$1.60B
FY2025 total revenues · ~+5.5% vs FY2024 (GAAP)
total revenue
~$1.60B
+5.5%
The Products That Matter
Homeowner policies
Personal Residential Insurance
~73% of FY2025 DPW · Florida
FY2025 direct premiums written were ~$2.14B; Florida was ~$1.55B of that (~73%). In Q4 2025, Florida DPW slipped ~3.1% YoY while other states grew ~18.2%—the footprint is still Florida-first.
core
Risk transfer
Reinsurance Programs
90% placed for 2026
UVE secured new multi-year reinsurance and placed 90% of its first-event catastrophe tower for 2026. that matters because in this business, protection is part of the product.
balance sheet shield
Fees and other operations
Other Operations & Fees
premiums + fees + investments
Beyond premium flow, Q4 2025 net investment income was ~$19.0M (up vs ~$15.6M prior-year quarter). Commissions, policy fees, and other revenue were ~$21.2M in Q4—still secondary to underwriting.
small cushion
Key Numbers
~5.4x
trailing p/e
Rough check: ~$34.28 ÷ ~$6.32 FY2025 diluted GAAP EPS ≈ ~5.4×. Cheap on trailing earnings; verify your forward model against storm seasons and reinsurance terms.
$1.6B
annual revenue
That is the premium machine. A 1% move in margin on this base changes profit by about $16M.
12.4%
return on capital
Return on capital → profit earned on money tied up in the business → so UVE is generating double-digit returns, not just collecting float and hoping.
$101M
long-term debt
That is 10% of capital, which means the balance sheet is using more premium risk than debt risk. In insurance, that matters when bad quarters show up.
Financial Health
B+
Strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 35 / 100
- long-term debt $101M (10% of capital)
B+ — functional but not a standout on the balance sheet.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
q4 / fy 2025 reported
Q4 2025 total revenues reached ~$407.9M (+6.0% YoY), with diluted GAAP EPS $2.28 (vs $0.21 in Q4 2024).
Full-year 2025 diluted GAAP EPS was $6.32 vs $2.01 in 2024. The quarter-over-quarter jump is real, but P/C insurers re-base fast when a quiet storm season follows a noisy one.
~$407.9M
q4 revenue
$2.28
eps
~16%
q4 net margin
the number that mattered
One quarter’s $2.28 diluted GAAP EPS exceeded all of FY2024’s $2.01 diluted GAAP EPS—that is the definition of lumpy homeowners P/C earnings, not a smooth SaaS curve.
P0: Universal Q4 & FY2025 results (Feb 24, 2026) — Business Wire via Morningstar · table recap — MarketScreener
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What Could Go Wrong
The top risk is florida homeowner concentration.
High
Florida concentration
Florida premiums fell 3.1% last quarter, and UVE still depends heavily on that market. When your main state cools off, diversification does not bail you out.
Florida still represented ~73% of FY2025 direct premiums written—so when Florida sneezes, this income statement still catches a cold.
High
Catastrophe and reinsurance dependence
UVE placed 90% of its first-event catastrophe tower for 2026 and secured multi-year reinsurance. That is good news, but it also tells you how central outside protection is to the model.
A bad storm season or less favorable coverage terms can hit earnings hard even if underwriting looks fine in calmer periods.
Med
Earnings volatility
Earnings predictability is 10 / 100. In human-speak, you should expect sharp swings rather than a smooth line upward.
That makes the cheap valuation less comforting than it first appears.
Low
Insider selling after a strong run
Insiders sold 46,855 shares worth $1.59M last quarter, even though insiders still own 17.5% of the company.
This is not a thesis-breaker by itself, but it does not strengthen the cheap-stock argument either.
You are being paid with a ~5.4× trailing GAAP P/E (spot price vs FY2025 EPS) and strong reported ROCE in 2025 to accept Florida skew and reinsurance leverage—verify every forward assumption against storm seasons.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Earnings
Next earnings report
Scheduled for april 23, 2026. You want to see whether Florida premiums keep shrinking or stabilize.
Underwriting
Return on equity vs. return on capital
39.6% ROE grabs attention, but 12.4% return on capital is the cooler number. If the gap widens, ask what is really driving the optics.
Reinsurance
Catastrophe tower completion
UVE has placed 90% of its first-event catastrophe tower for 2026. The remaining coverage matters because this business does not get a second chance after a major storm.
Capital
Buybacks after the post-earnings jump
A new repurchase program was announced on jan 7, 2026. If management keeps buying after a 16.7% move, that tells you something about internal conviction.
Analyst Rankings
earnings predictability
10 / 100
in human-speak, the next few quarters are harder to forecast than the low p/e makes them look.
risk rank
3
That puts UVE around the middle of the pack on overall risk. Not reckless, not relaxing.
price stability
35 / 100
The stock moves around more than steady compounders do. Small cap insurance tends to do that.
Source: institutional data
Institutional Activity
institutional ownership data for UVE is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$34
Current price
Target midpoint · from current
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