STCHIGH SIGNALOPPORTUNITY10-K

Stewart Information Services delivered exceptional financial performance with net income surging 57.6% and outstanding shares increasing 9.4% from approximately 27.8M to 30.4M shares.

The company demonstrated strong operational execution with revenue growth of 17.3% translating into disproportionately higher profitability, indicating improved margins and operational leverage. The significant increase in outstanding shares suggests either equity raises for growth capital or strategic acquisitions, while the company maintains its position as a leading title insurer based on 2025 statutory premiums.

Comparing 2026-02-27 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

STC delivered robust across-the-board financial improvement with revenue growing 17.3% to $2.9B while net income surged 57.6% to $115.5M, demonstrating strong operational leverage and margin expansion. The balance sheet strengthened significantly with cash increasing 48.8% to $321.8M and operating cash flow jumping 51.7% to $205.7M, providing substantial liquidity for growth initiatives. While total liabilities increased 21.5%, this was more than offset by equity growth, resulting in a stronger overall financial position that signals successful business execution and expansion.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+57.6%
$73.3M$115.5M

Net income grew 57.6% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+51.7%
$135.6M$205.7M

Operating cash flow surged 51.7% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+48.8%
$216.3M$321.8M

Cash position surged 48.8% — strong cash generation or capital raise providing significant financial cushion.

Total Liabilities
Balance Sheet
+21.5%
$1.3B$1.6B

Liabilities increased 21.5% — monitor debt-to-equity ratio and interest coverage.

Total Assets
Balance Sheet
+19.1%
$2.7B$3.3B

Asset base grew 19.1% — expansion through organic growth, acquisitions, or capital deployment.

Revenue
P&L
+17.3%
$2.5B$2.9B

Revenue growing 17.3% — solid top-line momentum, watch margins for quality of growth.

Stockholders Equity
Balance Sheet
+17%
$1.4B$1.6B

Equity base grew 17% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-28
ADDED
On February 16, 2026, there were 30,419,415 outstanding shares of the Registrant's Common Stock.
Cybersecurity 14 2 Properties 16 3 Legal Proceedings 16 4 Mine Safety Disclosures 16 PART II 5 Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 6 R es erved 18 7 Management s Discussion and Analysis of Financial Condition and Results of Operations 18 7A.
Based on 2025 statutory premiums written through the nine months ended September 30, 2025, Guaranty is one of the leading title insurers in the United States.
We provide these services through Informative Research, Equimine (which operates as PropStream), BatchLeads, BatchDialer, Mortgage Contracting Services, Stewart Valuation Intelligence, NotaryCam, Inc., and Signature Closers, LLC.
Our investment portfolios primarily reside in Guaranty, our largest underwriter and domiciled in the U.S., and two of our other international regulated insurance underwriters.
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REMOVED
On February 17, 2025, there were 27,810,679 outstanding shares of the Registrant's Common Stock.
Cybersecurity 13 2 Properties 15 3 Legal Proceedings 15 4 Mine Safety Disclosures 15 PART II 5 Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16 7 Management s Discussion and Analysis of Financial Condition and Results of Operations 17 7A.
Similarly, our wholly-owned and second largest underwriter, Stewart Title Insurance Company (STIC), is also highly rated by such rating companies.
Additionally, our parent company's outstanding senior unsecured debt is rated "BBB" by Fitch Ratings Ltd.
These ratings are not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time by the assigning rating agency.
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