ProAssurance Corporation (PRA) Stock Analysis
Financial Services · Insurance - Property & Casualty · NYSE
ProAssurance Corporation (PRA) posted $1.10B in revenue for fiscal 2025 (down 4.6% year over year), at a 4.6% net margin, and has compounded revenue about 4.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on ProAssurance Corporation
ProAssurance Corporation has grown revenue from $870.21M to $1.10B over the last 10 fiscal years, compounding about 4.6% a year. The most recent year was down 4.6%, so growth has cooled from its longer-run pace.
Net margin sits at 4.6%. It carries about $420.42M of total debt.
At today's valuation the market is pricing in roughly -3% annual free-cash-flow growth — versus the 8.3% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is debt with negative operating cash flow.
Synthesised from ProAssurance Corporation's SEC filings — descriptive, not advice. Ask the analyst your own question →
ProAssurance Corporation revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $870.21M | $866.15M | $886.03M | $999.83M | $874.94M | $1.12B | $1.11B | $1.14B | $1.15B | $1.10B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $151.08M | $107.26M | $47.06M | $1.00M | $-175.73M | $144.12M | $-402,000 | $-38.60M | $52.74M | $50.91M |
| Net margin | 17.4% | 12.4% | 5.3% | 0.1% | -20.1% | 12.8% | -0.0% | -3.4% | 4.6% | 4.6% |
Source: ProAssurance Corporation SEC filings (10-K). 18 years of history available in the interactive view.
ProAssurance Corporation: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Debt with negative operating cash flowCarries $420.4M of debt while last year's operating cash flow was negative ($-25.6M).
What growth is priced into PRA stock?
At today's market cap of $1.28B, ProAssurance Corporation is priced for free-cash-flow growth of about -3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $138.58M from the FY ending 2019-12-31). For comparison, free cash flow actually grew 8.3%/yr over the last five fiscal years and revenue 4.6%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of ProAssurance Corporation financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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ProAssurance Corporation financial history by metric
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About ProAssurance Corporation
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. It operates through three segments: Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Corporate. The company offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance and captive cell programs for healthcare professional liability insureds. It also provides workers' compensation insurance products, such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies, as well as alternative market solutions that include program design, fronting, claims administration, risk management, SPC rental, asset management, and SPC management services for individual companies, agencies, groups, and associations. It markets its products through independent agencies and brokers, as well as an internal business development team. ProAssurance Corporation was founded in 1976 and is headquartered in Birmingham, Alabama.
ProAssurance Corporation — frequently asked questions
What is ProAssurance Corporation's revenue?
ProAssurance Corporation (PRA) reported revenue of $1.10B for fiscal year 2025, down 4.6% from the prior year, according to its SEC filings.
Is ProAssurance Corporation profitable?
Yes. PRA earned net income of $50.91M in fiscal 2025, a net margin of 4.6%.
What is PRA's P/E ratio?
ProAssurance Corporation trades at a price-to-earnings ratio of about 19.6 based on the latest data in our nightly-refreshed cache.
How fast is ProAssurance Corporation growing?
PRA's revenue grew at roughly 4.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does ProAssurance Corporation have?
As of fiscal year 2025, PRA carried roughly $420.42M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is ProAssurance Corporation's market cap?
ProAssurance Corporation (PRA) has a market capitalization of about $1.28B, based on the latest data in our nightly-refreshed cache.
When does ProAssurance Corporation's fiscal year end?
PRA's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into PRA stock?
At today's market cap of $1.28B, ProAssurance Corporation is priced for free-cash-flow growth of about -3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $138.58M from the FY ending 2019-12-31). For comparison, free cash flow actually grew 8.3%/yr over the last five fiscal years and revenue 4.6%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from ProAssurance Corporation's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.