TIPT|TIPTREE INC.
Fire, Marine & Casualty Insurance
- Revenue
- $488K
- ▼ 100% YoY
- Operating margin
- -9574.6%
- ▼ 81080% YoY
- EBITDA
- −$45M
- ▼ 17% YoY
- Market cap
- $628M
- Employees
- 1,486
- $328 revenue each
- Net debt / EBITDA
- —
- $309M net debt
- AI in 10-K
- 0.5
- mentions per 10K words
TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
482% of net income
Cash flow under 80% of net income
Dilutive SBCYes
23× of revenue
Over 10% of revenue
Payouts exceed cash flowNo
5% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
22% of assets
Over 40% of assets
Shareholder dissentYes
77% lowest support
Any vote under 80% support
Buyer economics 3 of 4
Low revenue per employeeYes
$328 · 0th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.5 per 10K words · 20th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$628M market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $259M | $300M | $341M | $341M | $488K | ▼ 100% | |
|---|
| Operating income | — | — | −$43M | −$40M | −$47M | ▼ 16% | |
|---|
| Net income | $38M | −$8M | $14M | $53M | $35M | ▼ 35% | |
|---|
| Operating cash flow | $204M | $463M | $71M | $241M | $168M | ▼ 30% | |
|---|
| Capex | $3M | $11M | $4M | $33K | $0 | ▼ 100% | |
|---|
| Stock-based comp | $11M | $10M | $6M | $9M | $11M | ▲ 31% | |
|---|
| Buybacks | $8M | $2M | $0 | $0 | — | | |
|---|
| Dividends | $5M | $8M | $7M | $18M | $9M | ▼ 50% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Mar 12, 2026 | Barnes Michael Gene | SCHEDULE 13D/A | 27.3% | Passive |
| Nov 17, 2025 | Veradace Partners LP | SCHEDULE 13D/A | 5.1% | Passive |
| Nov 12, 2025 | Veradace Partners LP | SCHEDULE 13D | 5.0% | Active |
| Sep 30, 2025 | Barnes Michael Gene | SCHEDULE 13D | 27.4% | Passive |
| Sep 30, 2025 | Inayatullah Arif | SCHEDULE 13D | 9.0% | Active |
| Mar 17, 2021 | Barnes Michael Gene | SC 13D/A | 28.1% | Passive |
| Mar 12, 2021 | Barnes Michael Gene | SC 13D/A | 38.3% | Passive |
| Aug 10, 2020 | Barnes Michael Gene | SC 13D/A | 26.5% | Passive |
| Mar 18, 2020 | Barnes Michael Gene | SC 13D/A | 25.3% | Passive |
| Aug 7, 2019 | Barnes Michael Gene | SC 13D/A | 24.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $682K · 5
- Open-market sells, 12 mo
- $0 · 0
- Net
- $682K
Pay vs performance
No pay-versus-performance disclosure yet.