Universal Insurance Holdings, Inc. Financial Ratios — UVE

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	17.79	24.56	39.68	35.5	38.79	28.84	25.23	22.97	8.25	3.34	3.6	-4.12	12.38	10.17	27
Return on Assets (%)	2.37	3.33	6.39	7.97	11.18	9.68	8.5	7.07	2.6	1.1	1.07	-0.9	2.57	2.28	6.44
Return on Capital (%)	12.6	17.94	29.82	29.2	34.94	27.29	23.45	19.79	6.93	2.93	3.13	- -	10.97	9.15	24.05
Return on Invested Capital (%)	- -	14.42	26.76	29.93	37.08	28.27	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	19.47	33.39	34.56	32.02	23.77	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	19.47	33.39	34.56	32.02	23.77	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	442.88	119.24	153.74	39.71	26.75	-8.75	-244.47	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	14.93	19.47	33.39	34.56	32.02	23.77	22.67	18.56	6.76	2.26	2.53	-2.23	6.35	5.56	15.15
Profit Margin (%)	8.9	11.23	19.58	19.77	19.48	14.51	14.22	14.21	4.95	1.78	1.82	-1.82	4.8	3.88	11.41
Net Income to Common Margin (%)	8.89	11.12	19.57	19.76	19.48	14.5	14.22	14.21	4.95	1.78	1.82	-1.82	4.8	3.87	11.41
Effective Tax Rate (%)	40.36	42.33	41.35	42.8	39.16	38.97	37.28	23.43	26.77	21.15	28.18	- -	24.36	30.35	24.73
Dvd Payout Ratio (%)	63.47	62.18	30.07	26.37	20.93	24.34	22.45	21.79	56.14	128.55	118.6	-106.77	34.84	37.88	12.12
Sustainable Growth Rate (%)	6.5	9.29	27.75	26.14	30.67	21.82	19.57	17.97	3.62	-0.95	-0.67	-8.51	8.07	6.32	23.73

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	47	46	52	37	24	15	50	114	100	68	130	103	117	101	100
ST Debt	25	26	15	6	- -	- -	37	103	90	59	27	- -	15	- -	- -
LT Debt	22	20	37	31	24	15	13	11	10	8	104	103	102	101	100
Total Debt/EBITDA	- -	0.88	0.52	0.29	0.14	0.09	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	-5.73	-0.65	-0.62	-0.99	-0.56	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	0.88	0.52	0.29	0.14	0.09	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	-5.73	-0.65	-0.62	-0.99	-0.56	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	-181.22	-12.42	-0.83	-0.69	-1.28	-0.78
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	6	6	6	6
Common Equity/Total Assets	13.04	13.82	18.39	26.53	30.91	36.07	31.97	29.79	33.38	32.29	27.44	17.92	24.22	21.02	26.69
Long-Term Debt/Equity (%)	14.46	12.35	21.24	13.98	8.21	4.05	2.92	2.27	2.01	1.88	24.13	35.7	29.89	27.12	18.23
Long-Term Debt/Capital (%)	13.25	11.6	16.85	10.99	7.26	3.78	2.5	1.71	1.47	1.33	14.93	16.56	15.05	14.49	11.71
Long-Term Debt/Total Assets (%)	2.43	2.18	4.05	3.36	2.42	1.42	0.88	0.61	0.58	0.48	5.04	3.56	4.4	3.56	3.54
Total Debt/Equity (%)	31.45	28.25	29.75	16.69	8.21	4.05	11.27	22.77	20.31	15.1	30.35	35.7	34.16	27.12	18.23
Total Debt/Capital (%)	28.81	26.53	23.6	13.12	7.26	3.78	9.63	17.1	14.88	10.67	18.78	16.56	17.2	14.49	11.71
Total Debt/Total Assets (%)	5.28	4.99	5.68	4.01	2.42	1.42	3.41	6.15	5.83	3.86	6.34	3.56	5.03	3.56	3.54
Net Debt to Equity	-121.67	-184.2	-37.03	-36.02	-59.01	-24.44	-37.25	-10.4	-16.56	-22.1	-27.94	-99.32	-82.25	-42.38	-55.97
Net Debt/Capital (%)	276.78	173.83	-62.44	-48.37	-128.94	-31.1	-54.4	-10.41	-16.61	-21.19	-27.04	-123.25	-100.09	-36.03	-68.6
EBITDA	- -	53	101	128	175	163	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-2	50	99	118	163	155	-5	-7	-11	-17	-7	-5	-4	-7	-4
Operating Income (Loss)	- -	53	101	128	175	163	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	13.04	13.82	18.39	26.53	30.91	36.07	31.97	29.79	33.38	32.29	27.44	17.92	24.22	21.02	26.69
Long-Term Debt/Equity (%)	14.46	12.35	21.24	13.98	8.21	4.05	2.92	2.27	2.01	1.88	24.13	35.7	29.89	27.12	18.23
Long-Term Debt/Capital (%)	13.25	11.6	16.85	10.99	7.26	3.78	2.5	1.71	1.47	1.33	14.93	16.56	15.05	14.49	11.71
Long-Term Debt/Total Assets (%)	2.43	2.18	4.05	3.36	2.42	1.42	0.88	0.61	0.58	0.48	5.04	3.56	4.4	3.56	3.54
Total Debt/Equity (%)	31.45	28.25	29.75	16.69	8.21	4.05	11.27	22.77	20.31	15.1	30.35	35.7	34.16	27.12	18.23
Total Debt/Capital (%)	28.81	26.53	23.6	13.12	7.26	3.78	9.63	17.1	14.88	10.67	18.78	16.56	17.2	14.49	11.71
Total Debt/Total Assets (%)	5.28	4.99	5.68	4.01	2.42	1.42	3.41	6.15	5.83	3.86	6.34	3.56	5.03	3.56	3.54
CFO/Total Liabilities	15.13	18.7	21.08	17.8	31.3	17.62	24.14	16.96	6.9	2.24	14.41	12.47	3.59	5.56	16.67
CFO/CapEx	47.01	52.28	116.27	13.31	18.47	14.76	53.06	34.19	7.48	1.7	32.44	66.24	17.66	18.64	85.96
Altman's Z-Score	0.55	0.81	1.36	1.8	2.25	2.52	1.53	1.44	1.48	1.28	1.13	0.75	1.08	0.97	1.19

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	1.96	1.54	1.89	2.75	5.83	10.73	5.14	2.3	2.55	4.43	4.7	2.17	2.37	3.04	3.16
Days Sales Outstanding	186.14	236.89	192.8	132.52	62.6	34.03	71.08	158.92	142.91	82.41	77.73	168.51	154.04	120.23	115.4
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	140	174	519	686	807	992	953	1,322	949	482	531	326	477	600	943
- Cash & Cash Equivalents	230	347	117	115	197	106	213	166	182	167	251	389	397	259	409
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	47	46	52	37	24	15	50	114	100	68	130	103	117	101	100
Enterprise Value	-42	-128	454	558	609	896	140	449	12	-437	-630	-975	-868	-827	471
Total Capital	164	174	221	278	331	397	515	668	674	636	695	621	678	699	858
Total Debt/Capital (%)	28.81	26.53	23.6	13.12	7.26	3.78	9.63	17.1	14.88	10.67	18.78	16.56	17.2	14.49	11.71
Total Debt / EV	-1.12	-0.36	0.12	0.07	0.04	0.02	0.36	0.25	8.65	-0.16	-0.21	-0.11	-0.13	-0.12	0.21
EV/Sales	- -	- -	1.51	1.51	1.11	1.31	0.19	0.55	0.01	- -	- -	- -	0.06	0.19	0.29
EV/EBITDA	- -	- -	4.52	4.37	3.48	5.5	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	4.52	4.37	3.48	5.5	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	2.89	4.52	2.78	7.38	0.57	1.95	0.14	- -	- -	- -	1.12	1.99	1.22
EV/Free Cash Flow to Firm	- -	- -	2.87	4.2	2.63	6.91	0.56	1.9	0.12	- -	- -	- -	1.06	1.9	1.21
Diluted Market Cap	145	178	547	719	832	1,012	979	1,357	958	483	532	326	482	617	979
Diluted Enterprise Value	-38	-123	482	640	659	922	815	1,305	876	384	412	40	201	458	670
EV per Share	- -	- -	12.67	16.61	17.49	25.66	4.01	12.88	0.34	- -	- -	- -	2.83	9.89	16.9
TTM Sales	226	270	301	369	547	685	752	824	939	1,073	1,122	1,223	1,392	1,521	1,604
TTM EBITDA	- -	53	101	128	175	163	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	53	101	128	175	163	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	113	143	157	123	219	121	245	230	85	29	235	329	75	141	386
TTM Free Cash Flow to Firm	115	145	158	133	231	130	250	237	96	47	242	334	79	149	390

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	1.26	1.22	3.46	5.42	3.6	7.81	3.92	5.73	9.99	10.37	2.2	0.99	6.42	4.26	2.54
EV/EBIT	- -	- -	4.52	4.37	3.48	5.5	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-42	-128	454	558	609	896	140	449	12	-437	-630	-975	-868	-827	471
Low Price	3.31	3.01	4.23	9.71	16.5	15.86	15.08	26.75	23.57	10.84	12.62	8.39	10.17	15.78	18.72
EV/Sales	- -	- -	1.51	1.51	1.11	1.31	0.19	0.55	0.01	- -	- -	- -	0.06	0.19	0.29
EV/EBITDA	- -	- -	4.52	4.37	3.48	5.5	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	6.98	5.78	8.81	9.41	7.58	9.98	8.91	11.29	20.4	25.23	26.02	- -	7.13	10.19	5.15
Price/Earnings Average	9.17	5.04	4.34	6.49	8.47	7.28	8.03	11.23	22.07	30.15	22.08	-17.16	6.8	9.51	3.92
Price/Earnings High	11.8	6.19	9.02	9.72	12.25	10.05	9.51	15.04	29.82	46.94	26.74	-27.12	9	11.31	5.46
Price/Earnings Low	6.46	3.97	2.57	4.47	5.39	5.57	4.91	7.97	17.18	18.1	19.32	-11.59	4.54	7.63	2.85
Price/Book Value	1.2	1.36	3.07	2.84	2.63	2.59	2.05	2.39	1.65	0.85	0.94	0.63	0.85	1	1.24
Price/Book Value Average	1.58	1.18	1.51	1.96	2.94	1.89	1.85	2.37	1.79	1.01	0.8	0.74	0.81	0.94	0.95
Price/Book Value High	2.03	1.45	3.14	2.93	4.25	2.61	2.19	3.18	2.42	1.58	0.97	1.17	1.07	1.12	1.32
Price/Book Value Low	1.11	0.93	0.9	1.35	1.87	1.45	1.13	1.68	1.39	0.61	0.7	0.5	0.54	0.75	0.69
Price/Tangible Book Value	0.94	1.06	2.96	3.14	2.75	2.67	2.17	2.63	1.92	1.07	1.24	1.13	1.4	1.61	1.71
Price/Tangible Book Value Average	1.23	0.93	1.46	2.16	3.08	1.95	1.95	2.62	2.08	1.28	1.05	1.33	1.33	1.5	1.3
Price/Tangible Book Value High	1.58	1.14	3.03	3.24	4.45	2.69	2.31	3.51	2.81	1.99	1.27	2.1	1.76	1.79	1.81
Price/Tangible Book Value Low	0.86	0.73	0.86	1.49	1.96	1.49	1.19	1.86	1.62	0.77	0.92	0.9	0.89	1.2	0.95
Price/Sales	0.62	0.64	1.72	1.86	1.48	1.45	1.27	1.6	1.01	0.45	0.47	0.27	0.34	0.39	0.59
Price/Sales Average	0.82	0.56	0.85	1.28	1.65	1.06	1.14	1.6	1.09	0.54	0.4	0.31	0.33	0.37	0.45
Price/Sales High	1.05	0.69	1.77	1.92	2.39	1.46	1.35	2.14	1.48	0.84	0.49	0.49	0.43	0.44	0.62
Price/Sales Low	0.57	0.44	0.5	0.88	1.05	0.81	0.7	1.13	0.85	0.32	0.35	0.21	0.22	0.3	0.33
Price/Cash Flow	1.25	1.22	3.31	5.57	3.68	8.17	3.89	5.74	11.21	16.42	2.26	1	6.72	4.37	2.47
Price/Cash Flow Average	1.64	1.06	1.63	3.84	4.11	5.96	3.5	5.71	12.13	19.62	1.92	1.18	6.41	4.08	1.88
Price/Cash Flow High	2.11	1.3	3.39	5.75	5.95	8.23	4.15	7.65	16.39	30.54	2.33	1.86	8.47	4.85	2.62
Price/Cash Flow Low	1.15	0.84	0.97	2.64	2.62	4.56	2.14	4.05	9.44	11.78	1.68	0.8	4.27	3.27	1.37
Price/Free Cash Flow Average	1.65	1.07	1.7	3.74	4.02	5.7	3.53	5.7	10.81	12.4	1.87	1.16	6.13	3.98	1.93
Price/Free Cash Flow High	2.13	1.31	3.54	5.6	5.82	7.87	4.19	7.63	14.61	19.3	2.26	1.83	8.1	4.73	2.69
Price/Free Cash Flow Low	1.16	0.84	1.01	2.57	2.56	4.36	2.16	4.04	8.41	7.44	1.64	0.78	4.09	3.19	1.4
EV/Sales Average	0.01	- -	0.63	1.07	1.33	0.92	0.92	1.53	1.01	0.44	0.29	0.08	0.12	0.26	0.26
EV/Sales High	0.24	- -	1.55	1.71	2.07	1.32	1.14	2.07	1.39	0.74	0.38	0.26	0.23	0.33	0.43
EV/Sales Low	- -	- -	0.29	0.67	0.73	0.68	0.48	1.07	0.76	0.23	0.24	- -	0.02	0.19	0.13
EV/EBITDA Average	- -	-2.85	1.9	3.1	4.17	3.89	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	-2.2	4.64	4.94	6.47	5.57	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	-3.46	0.86	1.94	2.29	2.84	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	-2.85	1.9	3.1	4.17	3.89	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	-2.2	4.64	4.94	6.47	5.57	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	-3.46	0.86	1.94	2.29	2.84	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	3.58	4.38	14.48	20.45	23.18	28.4	27.35	37.92	27.99	15.11	17	10.59	15.98	21.06	33.8
High Price	6.05	4.69	14.83	21.14	37.49	28.6	29.2	50.5	40.92	28.11	17.47	19.64	20.15	23.39	35.84
Enterprise Value Average	2	-150	191	395	729	633	694	1,262	945	476	330	96	174	402	409
Enterprise Value High	55	-115	467	631	1,132	908	853	1,708	1,305	797	425	318	320	508	691
Enterprise Value Low	-53	-182	87	247	401	463	361	880	717	246	274	-28	23	292	214

Shares Outstanding	39	41	35	34	35	35	35	35	33	31	31	30	29	28	28
Diluted Weighted Avg Shares	40	41	38	35	36	36	36	36	34	32	31	31	30	29	29
Basic Weighted Avg Shares	39	40	36	34	35	35	35	35	34	32	31	31	30	28	28
Revenue per Share	5.76	6.81	8.4	11	15.71	19.63	21.58	23.63	27.72	33.65	35.94	39.76	46.65	53.36	57.51
EBITDA per Share	- -	1.33	2.8	3.8	5.03	4.66	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	1.33	2.8	3.8	5.03	4.66	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.51	0.76	1.64	2.17	3.06	2.85	3.07	3.36	1.37	0.6	0.65	-0.72	2.24	2.07	6.56
Basic EPS from Cont Ops	0.51	0.77	1.64	2.17	3.06	2.85	3.07	3.36	1.37	0.6	0.65	-0.72	2.24	2.07	6.56
Diluted EPS, GAAP	0.5	0.74	1.56	2.08	2.97	2.79	2.99	3.27	1.36	0.6	0.65	-0.72	2.22	2.01	6.32
Diluted EPS from Cont Ops	0.5	0.75	1.56	2.08	2.97	2.79	2.99	3.27	1.36	0.6	0.65	-0.72	2.22	2.01	6.32
Dividend per Share	0.33	0.48	0.5	0.57	0.64	0.69	0.69	0.73	0.77	0.77	0.78	0.77	0.78	0.78	0.8
Cash Flow per Share	2.87	3.6	4.38	3.67	6.3	3.48	7.03	6.6	2.5	0.92	7.51	10.55	2.38	4.82	13.68
Free Cash Flow per Basic Share	2.81	3.53	4.34	3.4	5.96	3.24	6.9	6.41	2.16	0.38	7.28	10.39	2.24	4.56	13.52
Cash & Equivalents per Share	5.86	8.77	3.27	4.93	6.38	3.17	24.76	28.31	30.61	30.96	41.35	45.64	49	53.64	20.5
Book Value per Share	2.97	3.23	4.72	7.21	8.83	10.95	13.35	15.89	16.94	17.81	18.07	16.84	18.81	20.96	27.18
Tangible Book Value per Share	3.83	4.13	4.9	6.52	8.42	10.63	12.63	14.39	14.57	14.09	13.76	9.36	11.44	13.1	19.76

Universal Insurance Holdings, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)