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.

Ticker
HMN
Exchange
NYSE
Sector
Financial Services
Industry
Insurance - Property & Casualty
Market cap
$2.18B
52-week range
$41.29 - $55.56

Valuation

Share price
$53.25 (close of Nov 6, 2026)
P/E (TTM)
12.30x
Price to book
1.53x
Price to free cash flow
4.13x
Enterprise value
$2.62B
Book value per share
$34.75

Price performance

PeriodChange
1 day+0.15%
5 days+13.98%
1 month+17.01%
3 months-1.61%
6 months+16.65%
Year to date+15.31%
1 year+17.58%
3 years+60.78%
5 years+30.96%
10 years+59.91%
All time+491.67%

Short interest

As of
Oct 15, 2026
Short % of float
3.51%
Shares short
1.03M
Days to cover
3.66
Change since prior report
+1.43%
Source
FINRA consolidated short interest

Members of Congress who disclosed HMN trades

Gilbert Ray Cisneros · Lisa McClain · Josh Gottheimer

Profitability and growth

Return on equity
10.93%
Return on assets
1.06%
Net margin
9.53%
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)
24.19%
Net debt to EBITDA
1.57x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$1.70B
Net income
$162.10M
Earnings per share
$3.93
Interest expense
$36.40M
Shares outstanding
41.20M

Income statement by year

Period endRevenueNet incomeEPS
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 endNet marginReturn on equity
2025-12-319.53%10.93%
2024-12-316.44%7.98%
2023-12-313.02%3.83%
2022-12-311.43%1.80%
2021-12-3112.82%11.37%
2020-12-3110.17%7.45%
2019-12-3112.89%11.77%
2018-12-311.54%1.42%
2017-12-3114.46%11.29%
2016-12-317.42%6.47%

Cash and debt by year

Period endCashDebt
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 endFree cash flowStock-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
Sep 16, 2026
Paid in the last twelve months
$1.43
Payment dateDividend 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

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$0.99
2026-08-05Jun 2026$0.67
2026-05-06Mar 2026$1.10
2026-02-03Dec 2025$1.18
2025-11-04Sep 2025$1.05
2025-08-06Jun 2025$0.61
2025-05-06Mar 2025$0.88
2025-02-05Dec 2024$0.99

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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Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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