Horace Mann Educators Corporation (HMN) - Net Assets
Based on the latest financial reports, Horace Mann Educators Corporation (HMN) has net assets worth $1.48 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.27 Billion) and total liabilities ($13.78 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Horace Mann Educators Corporation asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.48 Billion |
| % of Total Assets | 9.71% |
| Annual Growth Rate | 9.04% |
| 5-Year Change | -17.97% |
| 10-Year Change | 14.58% |
| Growth Volatility | 55.83 |
Horace Mann Educators Corporation - Net Assets Trend (1990–2025)
This chart illustrates how Horace Mann Educators Corporation's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Horace Mann Educators Corporation for the complete picture of this company's asset base.
Annual Net Assets for Horace Mann Educators Corporation (1990–2025)
The table below shows the annual net assets of Horace Mann Educators Corporation from 1990 to 2025. For live valuation and market cap data, see HMN stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.48 Billion | +15.16% |
| 2024-12-31 | $1.29 Billion | +9.55% |
| 2023-12-31 | $1.18 Billion | +7.01% |
| 2022-12-31 | $1.10 Billion | -39.23% |
| 2021-12-31 | $1.81 Billion | +0.97% |
| 2020-12-31 | $1.79 Billion | +14.22% |
| 2019-12-31 | $1.57 Billion | +21.44% |
| 2018-12-31 | $1.29 Billion | -14.05% |
| 2017-12-31 | $1.50 Billion | +16.04% |
| 2016-12-31 | $1.29 Billion | +2.32% |
| 2015-12-31 | $1.26 Billion | -5.37% |
| 2014-12-31 | $1.34 Billion | +21.57% |
| 2013-12-31 | $1.10 Billion | -10.23% |
| 2012-12-31 | $1.22 Billion | +16.03% |
| 2011-12-31 | $1.06 Billion | +19.93% |
| 2010-12-31 | $880.01 Million | +22.30% |
| 2009-12-31 | $719.54 Million | +60.31% |
| 2008-12-31 | $448.85 Million | -35.26% |
| 2007-12-31 | $693.28 Million | +5.51% |
| 2006-12-31 | $657.08 Million | +1.02% |
| 2005-12-31 | $650.45 Million | +12.88% |
| 2004-12-31 | $576.21 Million | +8.62% |
| 2003-12-31 | $530.50 Million | +0.31% |
| 2002-12-31 | $528.84 Million | +15.17% |
| 2001-12-31 | $459.20 Million | +7.29% |
| 2000-12-31 | $427.99 Million | +6.96% |
| 1999-12-31 | $400.14 Million | -19.43% |
| 1998-12-31 | $496.62 Million | -1.85% |
| 1997-12-31 | $505.97 Million | +4.45% |
| 1996-12-31 | $484.40 Million | +3.02% |
| 1995-12-31 | $470.20 Million | +14.13% |
| 1994-12-31 | $412.00 Million | -4.16% |
| 1993-12-31 | $429.90 Million | +20.39% |
| 1992-12-31 | $357.10 Million | +17.27% |
| 1991-12-31 | $304.50 Million | +325.28% |
| 1990-12-31 | $71.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Horace Mann Educators Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 165260000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.65 Billion | 111.40% |
| Common Stock | $100.00K | 0.01% |
| Other Comprehensive Income | $-154.60 Million | -10.43% |
| Total Equity | $1.48 Billion | 100.00% |
Horace Mann Educators Corporation Competitors by Market Cap
The table below lists competitors of Horace Mann Educators Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Heineken Bhd
KLSE:3255
|
$1.73 Billion |
|
TriNet Group Inc
NYSE:TNET
|
$1.74 Billion |
|
Integral Ad Science Holding LLC
NASDAQ:IAS
|
$1.74 Billion |
|
Tri Continental Closed Fund
NYSE:TY
|
$1.74 Billion |
|
Artivion Inc
NYSE:AORT
|
$1.73 Billion |
|
Believe SAS
PA:BLV
|
$1.73 Billion |
|
Vericel Corp Ord
NASDAQ:VCEL
|
$1.73 Billion |
|
Sinomag Technology Co Ltd
SHE:300835
|
$1.73 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Horace Mann Educators Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,287,500,000 to 1,482,700,000, a change of 195,200,000 (15.2%).
- Net income of 162,100,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 98,900,001.
- Other factors decreased equity by 65,800,001.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $162.10 Million | +10.93% |
| Other Comprehensive Income | $98.90 Million | +6.67% |
| Other Changes | $-65.80 Million | -4.44% |
| Total Change | $- | 15.16% |
Book Value vs Market Value Analysis
This analysis compares Horace Mann Educators Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.29x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5.99x to 1.29x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $7.67 | $45.97 | x |
| 1991-12-31 | $4.77 | $45.97 | x |
| 1992-12-31 | $6.17 | $45.97 | x |
| 1993-12-31 | $7.42 | $45.97 | x |
| 1994-12-31 | $7.11 | $45.97 | x |
| 1995-12-31 | $10.05 | $45.97 | x |
| 1996-12-31 | $10.71 | $45.97 | x |
| 1997-12-31 | $10.88 | $45.97 | x |
| 1998-12-31 | $11.33 | $45.97 | x |
| 1999-12-31 | $9.59 | $45.97 | x |
| 2000-12-31 | $10.45 | $45.97 | x |
| 2001-12-31 | $11.30 | $45.97 | x |
| 2002-12-31 | $13.06 | $45.97 | x |
| 2003-12-31 | $12.29 | $45.97 | x |
| 2004-12-31 | $12.17 | $45.97 | x |
| 2005-12-31 | $12.12 | $45.97 | x |
| 2006-12-31 | $14.36 | $45.97 | x |
| 2007-12-31 | $15.54 | $45.97 | x |
| 2008-12-31 | $11.06 | $45.97 | x |
| 2009-12-31 | $17.75 | $45.97 | x |
| 2010-12-31 | $21.46 | $45.97 | x |
| 2011-12-31 | $25.47 | $45.97 | x |
| 2012-12-31 | $30.10 | $45.97 | x |
| 2013-12-31 | $26.40 | $45.97 | x |
| 2014-12-31 | $31.65 | $45.97 | x |
| 2015-12-31 | $29.83 | $45.97 | x |
| 2016-12-31 | $31.18 | $45.97 | x |
| 2017-12-31 | $36.10 | $45.97 | x |
| 2018-12-31 | $30.81 | $45.97 | x |
| 2019-12-31 | $37.41 | $45.97 | x |
| 2020-12-31 | $42.62 | $45.97 | x |
| 2021-12-31 | $42.83 | $45.97 | x |
| 2022-12-31 | $26.28 | $45.97 | x |
| 2023-12-31 | $28.39 | $45.97 | x |
| 2024-12-31 | $31.02 | $45.97 | x |
| 2025-12-31 | $35.64 | $45.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Horace Mann Educators Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.93%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.53%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 10.30x
- Recent ROE (10.93%) is above the historical average (8.93%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 2.93% | 0.33% | 0.25x | 35.45x | $-5.06 Million |
| 1991 | -5.55% | -2.57% | 0.24x | 8.85x | $-47.35 Million |
| 1992 | 16.27% | 8.25% | 0.24x | 8.09x | $22.39 Million |
| 1993 | 17.96% | 10.91% | 0.22x | 7.32x | $34.21 Million |
| 1994 | 15.27% | 8.84% | 0.22x | 7.97x | $21.70 Million |
| 1995 | 15.72% | 9.98% | 0.20x | 7.79x | $26.88 Million |
| 1996 | 13.34% | 9.18% | 0.18x | 7.97x | $16.16 Million |
| 1997 | 16.52% | 11.19% | 0.18x | 8.17x | $32.98 Million |
| 1998 | 17.18% | 10.95% | 0.18x | 8.85x | $35.65 Million |
| 1999 | 11.12% | 5.74% | 0.18x | 10.63x | $4.49 Million |
| 2000 | 4.87% | 2.67% | 0.18x | 10.33x | $-21.96 Million |
| 2001 | 5.57% | 3.18% | 0.18x | 9.70x | $-20.32 Million |
| 2002 | 2.14% | 1.47% | 0.17x | 8.53x | $-41.55 Million |
| 2003 | 3.58% | 2.23% | 0.17x | 9.34x | $-34.05 Million |
| 2004 | 9.77% | 6.41% | 0.16x | 9.49x | $-1.31 Million |
| 2005 | 13.31% | 8.89% | 0.15x | 10.18x | $19.21 Million |
| 2006 | 15.02% | 11.14% | 0.14x | 9.71x | $33.00 Million |
| 2007 | 11.94% | 9.33% | 0.14x | 9.09x | $13.46 Million |
| 2008 | 2.43% | 1.31% | 0.15x | 12.52x | $-33.97 Million |
| 2009 | 10.21% | 7.84% | 0.15x | 8.82x | $1.53 Million |
| 2010 | 9.19% | 8.30% | 0.14x | 7.96x | $-7.14 Million |
| 2011 | 6.68% | 7.06% | 0.13x | 7.05x | $-35.03 Million |
| 2012 | 8.34% | 10.28% | 0.12x | 6.56x | $-20.68 Million |
| 2013 | 10.09% | 10.75% | 0.12x | 8.03x | $969.50K |
| 2014 | 7.80% | 9.82% | 0.11x | 7.31x | $-29.45 Million |
| 2015 | 7.39% | 8.65% | 0.11x | 7.95x | $-32.97 Million |
| 2016 | 6.48% | 7.42% | 0.11x | 8.17x | $-45.60 Million |
| 2017 | 11.28% | 14.46% | 0.10x | 7.46x | $19.24 Million |
| 2018 | 1.42% | 1.54% | 0.11x | 8.55x | $-110.75 Million |
| 2019 | 11.77% | 13.13% | 0.11x | 7.96x | $27.67 Million |
| 2020 | 7.45% | 10.34% | 0.10x | 7.53x | $-45.71 Million |
| 2021 | 9.43% | 13.63% | 0.09x | 7.96x | $-10.34 Million |
| 2022 | 1.80% | 1.48% | 0.10x | 12.12x | $-90.03 Million |
| 2023 | 3.83% | 3.14% | 0.10x | 11.95x | $-72.53 Million |
| 2024 | 7.98% | 6.63% | 0.11x | 11.25x | $-25.95 Million |
| 2025 | 10.93% | 9.53% | 0.11x | 10.30x | $13.83 Million |
Industry Comparison
This section compares Horace Mann Educators Corporation's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $6,491,397,700
- Average return on equity (ROE) among peers: 17.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Horace Mann Educators Corporation (HMN) | $1.48 Billion | 2.93% | 9.30x | $1.73 Billion |
| American Coastal Insurance Corp (ACIC) | $42.93 Million | 77.85% | 4.43x | $551.54 Million |
| American Financial Group Inc (AFG) | $2.06 Billion | -2.72% | 6.98x | $10.94 Billion |
| Aspen Insurance Holdings Limited (AHL) | $3.42 Billion | 9.42% | 2.23x | $120.77 Million |
| American Integrity Insurance Group, Inc. (AII) | $133.97 Million | 28.21% | 5.43x | $372.20 Million |
| Assurant Inc (AIZ) | $3.72 Billion | 12.87% | 5.81x | $10.94 Billion |
| The Allstate Corporation (ALL) | $16.72 Billion | 5.11% | 6.93x | $54.30 Billion |
| Ategrity Specialty Insurance Company Holdings (ASIC) | $-243.54 Million | 0.00% | 0.00x | $943.55 Million |
| Bowhead Specialty Holdings Inc. (BOW) | $370.44 Million | 10.32% | 3.47x | $797.28 Million |
| Chubb Ltd (CB) | $28.82 Billion | 13.04% | 2.28x | $127.02 Billion |
| Cincinnati Financial Corporation (CINF) | $9.86 Billion | 20.25% | 1.58x | $25.23 Billion |
About Horace Mann Educators Corporation
Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates through 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; s… Read more