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TWFG, Inc. Common Stock (TWFG)

NASDAQ / Financial Services / Insurance - Brokers

Share price

25.02 USD Market dataClose of Oct 15, 2026

Market capitalisation

322.2M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 10, 2026
Ratios computed
Oct 15, 2026
Filed years
4, FY2022 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

49.4% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

47.20x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

16.5% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2022 Revenue: 153.9M USDFY2022 Net income: 0.00 USDFY2023 Revenue: 172.0M USDFY2023 Net income: 0.00 USDFY2024 Revenue: 203.8M USDFY2024 Net income: 2.7M USDFY2025 Revenue: 248.5M USDFY2025 Net income: 41.2M USD
Revenue Net income4 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
3 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 47.20x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.

Today, against the Financial Services sector (657 companies), 47.20x sits at the 88th percentile; the middle half of that group runs from 11.29x to 24.29x.

Is it good

Return on equity was 49.4% in FY2025, in the band labelled "Exceptional, check the leverage" (25.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Financial Services sector (739 companies), 49.4% sits at the 96th percentile; the middle half of that group runs from 3.6% to 13.7%.

Is it safe

Interest coverage was 128.87x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether TWFG, Inc. Common Stock's return on equity stayed above the median of the Financial Services sector, year by year. (FY2023 to FY2025, 3 fiscal years of TWFG, Inc. Common Stock with a comparable figure)
The direction
Which way TWFG, Inc. Common Stock's operating margin has moved, and how steadily. (FY2022 to FY2025, 4 filed years of TWFG, Inc. Common Stock)
What could explain it
What in TWFG, Inc. Common Stock's filed statements could explain the movements. (7 readings drawn from the statement lines TWFG, Inc. Common Stock filed)
What to check next
What to check next on TWFG, Inc. Common Stock, and where in its filings. (1 question for TWFG, Inc. Common Stock)
In one paragraph
One paragraph on TWFG, Inc. Common Stock's returns, cash, balance sheet and price. (12 of sixteen figures read for TWFG, Inc. Common Stock)

These are TWFG’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research TWFGPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 10, 2026, accession 0001628280-26-016162.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

TWFG, Inc. Common Stock: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/m

Equity plus debt less cash is zero or below, so there is no invested capital to divide by (n/m).

n/m ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Return on equity49.4% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Return on capital employed, pre-tax11.3% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Return on assets11.1% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Gross margin
Why n/a

Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.

n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Operating margin14.9% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Net margin16.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
TWFG 16.6%
CION 9.4%NOAH 22.6%VALU 64.7%TREE 13.5%HRZN 4.6%
4.6%64.7%
Net margin: TWFG against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

TWFG, Inc. Common Stock: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.10 ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Current ratio5.12 ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Quick ratio5.12 ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Interest coverage128.87x ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Altman Z-score
Why n/m

Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Net debt-147.7M ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Total assets 372.3MTotal liabilities 55.7MShareholders' equity 83.4MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What TWFG, Inc. Common Stock owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 10, 2026, 0001628280-26-016162).

TWFG, Inc. Common Stock: balance sheet position
Total assets372.3M FiledFY2025 10-K, filed Mar 10, 2026
Total liabilities55.7M FiledFY2025 10-K, filed Mar 10, 2026
Shareholders' equity83.4M FiledFY2025 10-K, filed Mar 10, 2026
Cash155.9M FiledFY2025 10-K, filed Mar 10, 2026
Total debt8.2M FiledFY2025 10-K, filed Mar 10, 2026
Net debt-147.7M
Current ratio5.12
Debt to equity0.10

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

TWFG, Inc. Common Stock: what the market charges, each with its source
FigureValue, source and document
Price to earnings47.20x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
P/E on trailing twelve months40.02x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.86x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Price to sales1.30x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Enterprise value to EBIT4.72x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Enterprise value to EBITDA3.15x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Diluted earnings per share0.53 USD FiledFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162

We publish no fair value or price target of our own. Value TWFG on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for TWFG, Inc. Common Stock today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

TWFG, Inc. Common Stock: valuation
Share price25.02 USD
Market capitalisation322.2M USD
Enterprise value to EBITDA3.15x
Graham numbern/a
Diluted earnings per share, FY20250.53 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since May 13, 2025: low 1.18x, median 36.80x, high 71.24x, latest 40.02x. 356 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like TWFG, Inc. Common Stock

  1. CION Investment Corporation (CION)Market cap 341.5M USD
  2. Noah Holdings Limited (NOAH)Market cap 490.6M USD
  3. Value Line, Inc. (VALU)Market cap 412.8M USD
  4. LendingTree, Inc. (TREE)Market cap 362.4M USD
  5. Horizon Technology Finance Corporation (HRZN)Market cap 307.7M USD

Same sector (Financial Services) and size band (Small, 300M to 2B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

TWFG, Inc. Common Stock: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield16.5% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Free cash flow53.1M USD ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Free cash flow margin21.4% ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
FY2022 Free cash flow: 25.6M USDFY2022 Net income: 0.00 USDFY2023 Free cash flow: 29.9M USDFY2023 Net income: 0.00 USDFY2024 Free cash flow: 37.3M USDFY2024 Net income: 2.7M USDFY2025 Free cash flow: 53.1M USDFY2025 Net income: 41.2M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

TWFG, Inc. Common Stock: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
47.20xFY2025Oct 15, 2026
3.86xFY2025Oct 15, 2026
4.72xFY2025Oct 15, 2026
16.5%FY2025Oct 15, 2026
n/mFY2025Mar 10, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.10FY2025Mar 10, 2026
5.12FY2025Mar 10, 2026
1.30xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
-2.22FY2025Mar 10, 2026
6/9FY2025Mar 10, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 4 filed fiscal years on record, FY2022 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

4 filed fiscal years, FY2022 to FY2025, read from the annual reports TWFG, Inc. Common Stock filed with the SEC. Each year names its filing. Amounts in USD, as filed.

TWFG, Inc. Common Stock: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025248.5M37.0M41.2M0.5353.1M14.9%49.4%10-K, Mar 10, 20260001628280-26-016162
FY2024203.8M27.9M2.7M0.1937.3M13.7%3.7%10-K, Mar 27, 20250001628280-25-015138
FY2023172.0M25.4M0.00n/a29.9M14.8%0.0%10-K, Mar 27, 20250001628280-25-015138
FY2022153.9M23.7M0.00n/a25.6M15.4%n/a10-K, Mar 27, 20250001628280-25-015138
  • Revenue, compound annual growth FY2022 to FY2025: 17.3%
  • Earnings: Earnings was not positive in both 2022 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share, compound annual growth FY2024 to FY2025: 178.9%
  • Free cash flow, compound annual growth FY2022 to FY2025: 27.5%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

TWFG, Inc. Common Stock: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.22 ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Piotroski F-score6/9 ComputedFY2025 10-K, filed Mar 10, 2026, 0001628280-26-016162
Named tests met3 of 30 Computed
Beta0.46 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 3 met, 15 not met, 12 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low beta, profitable; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); Dividends and buybacks; Near the 52-week low; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; ROIC at or above WACC; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Cash-covered dividend; Cash-flow yield and ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(16)
  • Current Ratio: Graham set this test for industrial companies.
  • Positive Earnings Streak: We hold 2 profitable filed years in a row; the test needs 10.
  • Return on Invested Capital: Equity plus debt less cash is zero or below, so there is no invested capital to divide by (n/m).
  • Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Rev Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Ncav: The filed share count failed its unit check, so there is no market value we can show you the inputs of.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 16 figures could not be read on this company, among them Current Ratio, Positive Earnings Streak, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 12 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 4 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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