STEWART INFORMATION SERVICES CORP

Listed Company

STCCIK 0000094344NYSELarge AcceleratedTitle InsuranceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.92B

Net Income

$115.53M

Total Assets

$3.25B

Equity

$1.64B

Shares Out

30.42M

Op. Cash Flow

$205.69M

Business

STEWART INFORMATION SERVICES CORP is a global title insurance and real estate services company providing title underwriting and transaction support to real estate and mortgage markets. It offers title insurance, title examination and closing services, credit and real estate data, valuation management, online notarization and closing solutions, search services, insurance products, tax-deferred exchange services and technology platforms. The company reports three business segments: title insurance and related services, real estate solutions, and corporate support. Stewart distributes its products primarily through direct operations, a network of approved agencies and affiliated Stewart companies across the United States and regional offices in Australia, Canada and the United Kingdom.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenues	2,858	2,422	2,212	3,048	—
Investment income	58	55	45	22	17
Net realized and unrealized gains (losses)	6	13	−34,000	−1	24
Revenues	2,922	2,490	2,257	3,069	3,306
Amounts retained by agencies	1,048	865	814	1,208	1,300
Employee costs	831	745	713	802	777
Other operating expenses	715	604	508	648	627
Title losses and related claims	82	80	80	103	126
Depreciation and amortization	61	62	62	57	36
Interest	20	20	20	18	—
Total expenses	2,756	2,376	2,196	2,837	2,872
Income before taxes and noncontrolling interests	166	114	61	233	434
Income tax expense	−35	−26	−15	−51	−94
Net income	130	88	46	182	340
Less net income attributable to noncontrolling interests	15	15	15	19	17
Net income attributable to Stewart	116	73	30	162	323
Foreign currency translation adjustments	12	−15	5	−15	−679,000
Change in net unrealized gains and losses on investments	8	6	10	−35	−14
Reclassification adjustment for realized gains and losses on investments	2	1	390,000	−1	−2
Other comprehensive income (loss), net of taxes	21	−8	16	−52	−17
Comprehensive income	152	80	62	130	323
Less comprehensive income attributable to noncontrolling interests	15	15	15	19	17
Comprehensive income attributable to Stewart	137	65	47	111	306
Basic average shares outstanding (in shares)	28	28	27	27	27
Basic earnings per share attributable to Stewart (in usd per share)	4.12	2.65	1.12	6	12.05
Diluted average shares outstanding (in shares)	29	28	28	27	27
Diluted earnings per share attributable to Stewart (in usd per share)	4.05	2.61	1.11	5.94	11.9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	322	216	233	248	486
Short-term investments	48	41	39	24	18
Debt securities (amortized cost of $558,544 and $599,287, respectively)	558	587	610	612	590
Equity securities	48	82	70	98	89
Investments in debt and equity securities, at fair value	606	669	680	710	679
Premiums from agencies	38	37	39	40	45
Trade and other	117	88	76	67	75
Income taxes	3	3	4	10	5
Notes	40	21	15	7	1
Allowance for credit losses	−8	−8	−8	−7	−8
Total receivables	190	141	125	118	119
Land	2	3	3	3	3
Buildings and improvements	16	20	19	19	19
Furniture and equipment	260	245	234	214	216
Accumulated depreciation	−192	−180	−174	−153	−166
Total property and equipment, at cost	85	88	82	82	72
Operating lease assets	106	102	116	128	135
Title plants, at cost	82	75	73	73	77
Investments in investees, on an equity method basis	5	5	4	5	5
Goodwill	1,272	1,084	1,072	1,073	925
Intangible assets, net of amortization	325	173	193	199	230
Deferred tax assets, net	8	5	4	3	4
Other assets	204	131	81	75	64
Total assets	3,253	2,730	2,703	2,738	2,813
Notes payable and line of credit	647	446	—	—	—
Accounts payable and accrued liabilities	256	215	190	197	287
Operating lease liabilities	122	119	136	148	149
Estimated title losses	524	512	528	549	550
Deferred tax liabilities, net	53	28	25	27	49
Total liabilities	1,602	1,319	1,324	1,368	1,519
Contingent liabilities and commitments	—	—	—	—	—
Common Stock $1 par, authorized 51,500,000; issued 30,575,472 and 28,115,852; outstanding 30,223,311 and 27,763,691, respectively	31	28	28	27	27
Additional paid-in capital	490	331	311	297	282
Retained earnings	1,145	1,089	1,071	1,092	975
Foreign currency translation adjustments	−22	−33	−19	−24	−9
Net unrealized losses on debt securities investments	−44,000	−10	−17	−27	9
Treasury stock 352,161 common shares, at cost, for both 2025 and 2024 (including 145,820 shares held by a subsidiary)	−3	−3	−3	−3	−3
Total stockholders equity attributable to Stewart	1,641	1,402	1,371	1,362	1,282
Noncontrolling interests	9	9	7	8	13
Total stockholders equity	1,650	1,411	1,379	1,370	1,295
Total liabilities and stockholders' equity	3,253	2,730	2,703	2,738	2,813

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses on receivables	2	2	2	824,000	3
Net realized and unrealized (gains) losses	−6	−13	34,000	1	—
Amortization of net (discount) premium on debt securities investments	−2	−792,000	486,000	2	4
Payments for title losses less than (in excess of) provisions	5	−5	−24	10	55
Adjustments for insurance recoveries of title losses	0	208,000	−208,000	220,000	−220,000
Increase in receivables net	−15	−12	−5	10	−19
(Increase) decrease in other assets net	−20	−18	3	3	−6
Increase (decrease) in payables and accrued liabilities net	24	13	−6	−88	−22
Change in net deferred income taxes	8	4	−7	293,000	13
Net income from equity investees	−2	−2	−1	−3	−9
Dividends received from equity investees	2	1	1	4	9
Stock-based compensation expense	17	14	11	12	12
Other net	500,000	681,000	419,000	445,000	−237,000
Cash provided by operating activities	206	136	83	192	390
Proceeds from sales of investments in securities	141	37	60	67	—
Proceeds from matured investments in debt securities	74	94	72	37	—
Purchases of investments in securities	−112	−121	−78	−208	−144
Net purchases of short-term investments	−4	−5	−14	−7	2
Purchases of property and equipment and other long-lived assets	−73	−40	−38	−48	−40
Cash paid for acquisition of businesses and related assets	−370	−14	−25	−143	−600
Increase in notes receivable	−22	−8	−8	−7	—
Purchases of cost-basis and other investments	−9	−32	−1	−69,000	—
Other net	7	3	2	8	−18
Cash used by investing activities	−369	−87	−30	−301	−645
Proceeds from notes payable and line of credit	201	3	4	—	—
Payments on notes payable	−1	−3	−6	—	—
Cash dividends paid	−58	−54	−51	−45	−37
Distributions to noncontrolling interests	−14	−13	−16	−21	—
Payment of acquisition contingent consideration	−5	−720,000	−3	−20	−12
Issuance of Common Stock	141	0	0	0	0
Repurchases of Common Stock	−4	−4	−2	−3	−2
Proceeds from stock option and employee stock purchase plan exercises	8	11	5	6	—
Other - net	−1	54,000	0	115,000	−7
Cash provided (used) by financing activities	265	−61	−69	−123	310
Effects of changes in foreign currency exchange rates	3	−4	1	−6	−2
Net change in cash and cash equivalents	105	−17	−15	−238	53
Goodwill acquired (adjusted)	188	13	−706,000	149	—
Intangible assets acquired	184	12	29	13	212
Receivables and other assets acquired	22	37,000	296,000	8	5
Fixed assets and title plants (adjusted) acquired	2	0	−225,000	669,000	14
Liabilities recognized	−26	−11	−3	−28	−102
Net cash paid for acquisition of businesses and related assets	370	14	25	143	600
Income taxes paid, net	24	26	5	60	106
Interest paid	18	17	17	17	3

Filings

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