Horace Mann Educators Corp (HMN)
Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates through three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments. The Property & Casualty segment offers insurance products, including private passenger auto insurance, residential home insurance, and personal umbrella insurance; standard auto coverage including liability, collision, and comprehensive; property coverage for homeowners and renters. The Life & Retirement segment sells tax-qualified fixed, fixed indexed, and variable annuities; the Horace Mann Retirement Advantage open architecture platform and other defined contribution plans; traditional term, whole life insurance products, and indexed universal life (IUL) products. This segment also offers Life by Design, a portfolio of individual whole life and individual term insurance products that address the financial planning needs of educators; Life Select, a combination product that mixes a base of either traditional whole life, 20-pay life, or life paid-up at age 65 with a variety of term riders; single premium whole life products; and cash value term. The Supplemental & Group Benefits segment offers employer-sponsored products, including accident, critical illness, limited-benefit fixed indemnity insurance, term life, and short-term and long-term disability, as well as worksite direct products, such as supplemental heart, cancer, disability, and accident coverages. The company offers individual protection and savings solutions, including auto insurance, property insurance, liability insurance, 403(b) retirement plans, mutual funds, life insurance, student loan solutions, credit monitoring, and financial wellness workshops. It distributes its products and services through agents, brokers, benefit specialists, direct and digital channels. The company was founded in 1945 and is headquartered in Springfield, Illinois.
- Symbol
- HMN
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Insurance - Property & Casualty
- Market cap
- $1.90B
- 52 week range
- 41.29 - 55.56
Valuation
- Share price
- $46.54 (close of 2026-09-23)
- P/E (TTM)
- 10.77x
- Price to book
- 1.27x
- Price to free cash flow
- 3.36x
- Enterprise value
- $2.45B
- Book value per share
- $36.75
Price performance
| Period | Change |
|---|
| 1 day | -3.44% |
| 5 days | -6.00% |
| 1 month | -8.02% |
| 3 months | -8.30% |
| 6 months | +10.23% |
| Year to date | +0.78% |
| 1 year | +0.89% |
| 3 years | +56.54% |
| 5 years | +17.91% |
| 10 years | +26.78% |
| All time | +417.11% |
Profitability and growth
- Return on equity
- 10.93%
- Return on assets
- 1.06%
- Net margin
- 9.53%
- EBITDA margin
- 15.56%
- Revenue growth
- 6.66%
- Net income growth
- 57.68%
- Free cash flow growth
- 22.36%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 29.74%
- Net debt to EBITDA
- 2.10x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $1.70B
- EBITDA
- $264.70M
- Net income
- $162.10M
- Earnings per share
- $3.93
- Interest expense
- $36.40M
- Shares outstanding
- 41.20M
Income statement by year
| Period end | Revenue | Net income | EPS |
|---|
| 2025-12-31 | $1.70B | $162.10M | $3.93 |
| 2024-12-31 | $1.60B | $102.80M | $2.49 |
| 2023-12-31 | $1.49B | $45.00M | $1.09 |
| 2022-12-31 | $1.38B | $19.80M | $0.48 |
| 2021-12-31 | $1.33B | $170.40M | $4.06 |
| 2020-12-31 | $1.31B | $133.30M | $3.18 |
| 2019-12-31 | $1.43B | $184.40M | $4.42 |
| 2018-12-31 | $1.19B | $18.34M | $0.44 |
| 2017-12-31 | $1.17B | $169.46M | $4.10 |
| 2016-12-31 | $1.13B | $83.77M | $2.04 |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|
| 2025-12-31 | 9.53% | 10.93% |
| 2024-12-31 | 6.44% | 7.98% |
| 2023-12-31 | 3.02% | 3.83% |
| 2022-12-31 | 1.43% | 1.80% |
| 2021-12-31 | 12.82% | 11.37% |
| 2020-12-31 | 10.17% | 7.45% |
| 2019-12-31 | 12.89% | 11.77% |
| 2018-12-31 | 1.54% | 1.42% |
| 2017-12-31 | 14.46% | 11.29% |
| 2016-12-31 | 7.42% | 6.47% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $27.50M | $593.40M |
| 2024-12-31 | $38.10M | $547.00M |
| 2023-12-31 | $29.70M | $546.00M |
| 2022-12-31 | $42.80M | $249.00M |
| 2021-12-31 | $133.70M | $253.60M |
| 2020-12-31 | $22.30M | $302.30M |
| 2019-12-31 | $25.50M | $298.02M |
| 2018-12-31 | $11.90M | $297.74M |
| 2017-12-31 | $7.63M | $297.47M |
| 2016-12-31 | $16.67M | $247.21M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $553.20M | $10.20M |
| 2024-12-31 | $452.10M | $9.90M |
| 2023-12-31 | $302.10M | $9.50M |
| 2022-12-31 | $171.50M | $8.90M |
| 2021-12-31 | $204.90M | $8.40M |
| 2020-12-31 | $259.80M | $6.70M |
| 2019-12-31 | $127.60M | $7.30M |
| 2018-12-31 | $200.89M | $8.35M |
| 2017-12-31 | $256.59M | $8.59M |
| 2016-12-31 | $211.43M | $1.21M |
Dividend history
- Most recent payment
- 2026-09-16
- Paid in the last twelve months
- $1.43
| Payment date | Dividend per share |
|---|
| 2026-09-16 | $0.36 |
| 2026-06-15 | $0.36 |
| 2026-03-17 | $0.36 |
| 2025-12-15 | $0.35 |
| 2025-09-16 | $0.35 |
| 2025-06-16 | $0.35 |
| 2025-03-17 | $0.35 |
| 2024-12-16 | $0.34 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.99
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-05 | Jun/2026 | $0.67 |
| 2026-05-06 | - | - |
| 2026-02-03 | - | - |
| 2025-11-04 | - | - |
| 2025-08-06 | - | - |
| 2025-05-06 | - | - |
| 2025-02-05 | - | - |
| 2024-11-04 | - | - |
Filings and sources
- Company website
- horacemann.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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