# Verisk Analytics Inc. (VRSK) — Financial Analysis

**Exchange:** NASDAQ  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-13  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/VRSK/thesis · /stocks/VRSK/memo

## Financial Snapshot

---
ticker: VRSK
step: 04
generated: 2026-05-12
source: quick-research
---

### Verisk Analytics Inc. (VRSK) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $2.50B | $2.68B | $2.88B | +7.5% |
| Gross Margin | ~67% | ~68% | ~69% | +1pp |
| Operating Margin | ~40% | ~42% | ~43% | +1pp |
| Net Income | ~$0.77B | ~$0.88B | ~$0.95B | +8% |
| EPS (diluted) | ~$5.13 | ~$6.09 | ~$6.87 | +13% |

*FY2025: Revenue $3.07B (+6.6%); gross margin ~69.9%; operating margin ~43.7%; Adj. EBITDA margin ~55%; FCF $1.2B (+30%). EPS growth ~10–12% on continued share buybacks. FY2022–FY2023 reflect the transition year as Wood Mackenzie/financial services segments were divested, leaving pure insurance analytics.*

#### Cash Flow & Balance Sheet (FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$1.4B |
| Free Cash Flow | $1.2B (+30% YoY) |
| FCF Margin | ~39% |
| Cash & Equivalents | ~$0.3B |
| Total Debt | ~$3.5B |
| Net Debt / Adj. EBITDA | ~2.0x |

#### Key Ratios (approximate, FY2025)
- P/E: ~35–40x | EV/EBITDA: ~28–30x | FCF Yield: ~3.0–3.5%
- Revenue Growth: +6.6% OCC | Adj. EBITDA Margin: ~55% | FCF Conversion: ~80% of Adj. EBITDA
- Subscription Revenue: ~81% of total | Net Revenue Retention: >100%

#### Growth Profile
Verisk is a compounding, wide-moat business with consistent mid-to-high single digit organic revenue growth driven by: (1) annual price increases on subscription contracts (typically 4–6% per year on the core ISO/underwriting products); (2) volume growth as insurance policy counts and claims grow with the economy; and (3) new product adoption (AI-powered claims tools, aerial imagery, advanced analytics). The Adj. EBITDA margin has expanded ~100–150 bps per year as the company scales its high fixed-cost platform. Following the divestiture of lower-margin segments, the pure-play insurance analytics profile is cleaner and more predictable than ever.

#### Forward Estimates
- **FY2026**: Organic constant currency revenue growth 6–8% (management 3-year guidance); Adj. EBITDA margin targeting 56–57%; FCF ~$1.3–1.4B; EPS $7.80–8.20
- **3-Year Target**: 6–8% OCC revenue growth + 100 bps margin expansion per year + ~3–4% share count reduction = ~12–15% EPS CAGR
- **Capital Return**: ~$1.2–1.5B annual buybacks + $0.40/share quarterly dividend (~0.7% yield)

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/VRSK/fundamental

## Navigation

- Overview: /stocks/VRSK
- Financials (this page): /stocks/VRSK/financials
- Thesis: /stocks/VRSK/thesis
- Investment Memo: /stocks/VRSK/memo
- Coverage universe: /stocks