James River Group Holdings IncJames River Group Holdings Inc
James River Group Holdings Inc

James River Group Holdings Inc

JRVR
Financials·Insurance

James River Group Holdings, Inc. engages in the ownership and operation of a group of specialty insurance and reinsurance companies. It operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, and Corporate and Other. The Excess and Surplus Lines segment offers E&S commercial lines liability and property insurance products. The Specialty Admitted Insurance segment focuses on workers’ compensation insurance coverage as well as specialty admitted fronting and program business. The Casualty Reinsurance segment deals with commercial liability and non-catastrophe property reinsurance to U.S. insurance companies and to the company’s U.S.-based insurance subsidiaries. The Corporate and Other segment consists of the management and treasury activities of James River Group, James River UK, and JRG Holdings as well as interest expense associated with senior debt and Junior Subordinated Debt, and investment income from investments classified as other invested assets. The company was founded on May 30, 2007 and is headquartered in Chapel Hil, NC.

Bermuda
Market cap
$167.4MNo data
Revenue
$687.6M−2.8% YoY
Net income
$47.4M+158.5% YoY
Free cash flow
$-23.6M+90.6% YoY

Market

Listed stock
JRVRPriceNasdaq
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Financial performance

Revenue
$687.6M−2.8% YoY
Operating income
$-133.7M+50.0% YoY
Net income
$47.4M+158.5% YoY
Free cash flow
$-23.6M+90.6% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $772.9M, 2022 $813.7M, 2023 $812M, 2024 $707.6M, 2025 $687.6M. Operating income: 2021 $-345.4M, 2022 $-111.6M, 2023 $-64.7M, 2024 $-267.3M, 2025 $-133.7M. Net income: 2021 $-172.8M, 2022 $31M, 2023 $-107.7M, 2024 $-81.1M, 2025 $47.4M. Free cash flow: 2021 $-919.8M, 2022 $214.5M, 2023 $81.5M, 2024 $-252M, 2025 $-23.6M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-2.8%+1003 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-345.4M, 2022-12-31 $-111.6M, 2023-12-31 $-64.7M, 2024-12-31 $-267.3M, 2025-12-31 $-133.7M. Net income: 2021-12-31 $-172.8M, 2022-12-31 $31M, 2023-12-31 $-107.7M, 2024-12-31 $-81.1M, 2025-12-31 $47.4M. Free cash flow: 2021-12-31 $-919.8M, 2022-12-31 $214.5M, 2023-12-31 $81.5M, 2024-12-31 $-252M, 2025-12-31 $-23.6M

Growth heatmap

2022202320242025CAGR
Revenue
+5.3%
-0.2%
-12.9%
-2.8%
-2.9%
Gross profit
+302.3%
+32.7%
-63.5%
+123.4%
No data
Operating income
+67.7%
+42.0%
-313.1%
+50.0%
No data
Free cash flow
+123.3%
-62.0%
-409.1%
+90.6%
No data

Earnings quality

Operating cash flow
$-18.8M+92.4% YoY
Net income
$47.4M+158.5% YoY
Free cash flow
$-23.6M+90.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -40%, 2024-12-31 305%, 2023-12-31 -82%, 2022-12-31 719%, 2021-12-31 529%. Free cash flow: 2025-12-31 -50%, 2024-12-31 311%, 2023-12-31 -76%, 2022-12-31 693%, 2021-12-31 532%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data