# American Coastal Insurance (ACIC.US)

Canonical: https://gigainvestors.com/s/ACIC

Analysis as of: 2026-10-16T07:26:10.188Z. Financial observations: FY2015–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $10.95 per share; close as of 2026-10-15.

Estimated value: low $0.42 per share, central $0.46 per share, high $0.52 per share. Buy at or below the central value $0.46 per share. Valuation as of 2026-10-16T07:26:10.188Z; scenarios are not confidence intervals.

Expected annual return: 0.9% at the stated quote. About 0.9% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: fail

- positive earnings in fewer than 8 of 10 years

- Financial history: 10 years

- Profitable years in the last ten: 6

- Required profitable years: 8

- Return on common equity variation (informational): 2.63×

Chart: Net income; fiscal year observations.

- FY2016: $5.7M

- FY2017: $10M

- FY2018: $290K

- FY2019: -$30M

- FY2020: -$96M

- FY2021: -$58M

- FY2022: -$470M

- FY2023: $310M

- FY2024: $76M

- FY2025: $107M

### moat: fail

- Common book per share

- Parent-total proxy for common earnings

- Underwriting economics assessed through return on tangible common equity

- median return on common equity below threshold

- Bank / P&C ROTE, median of available years: 1.2%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: -26.2%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2016: 2.7%

- FY2017: 2.4%

- FY2018: 0.1%

- FY2019: -7.4%

- FY2020: -32.1%

- FY2021: -26.2%

- FY2022: 0.0%

- FY2023: >100%

- FY2024: 44.5%

- FY2025: 42.0%

### economics: fail

- Common book per share

- Parent-total proxy for common earnings

- nonpositive book value in the compounding window

- Book return interval: 10 years

- Starting book value per share: $11.15

- Ending book value per share: $6.38

### management: fail

- Common book per share

- Parent-total proxy for common earnings

- ordinary share count growth exceeds 2% annually in both the full and five-year windows

- book per share gain below retained common earnings per share

- Diluted shares, 10-year annual growth: 8.8%

- Diluted shares, 5-year annual growth: 3.0%

- Share growth excluding flagged crisis recapitalisations: 8.8%

- Five-year share growth excluding flagged crisis recapitalisations: 3.0%

- Flagged crisis recapitalisations: 0

- Book value created per share: -$4.77

- Earnings retained per share after dividends and buybacks: -$6.06

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

Down 21% since Feb 2024 · net income +41.1%

Story as of 2026-10-16T09:58:13.473Z; price observation 2026-10-15.

The price assumes profits grow 9.6% a year forever

### Net income · FY2025

net income +41.1%; source https://www.sec.gov/Archives/edgar/data/1401521/000140152126000015/acic-20251231.htm; observed 2026-03-09.

- FY2016: $5.7M 

- FY2017: $10M 

- FY2018: $290K 

- FY2019: -$30M 

- FY2020: -$96M 

- FY2021: -$58M 

- FY2022: -$470M 

- FY2023: $310M 

- FY2024: $76M 

- FY2025: $107M 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in insurance property & casualty; annual sales are USD 335.4 million.

- Source: https://www.sec.gov/Archives/edgar/data/1401521/000140152126000015/acic-20251231.htm#000140152126000015 (filed 2026-03-09); FY2025: revenue 335439000.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); ACIC.US: American Coastal Insurance Corporation, through its subsidiaries, primarily engages in the commercial and personal property and casualty insurance business in the United States. The company provides structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners. It also offers commercial multi-peril property insurance for residential condominium associations and apartments, as well as coverage to policyholders for loss or damage to buildings, inventory, and equipment caused by fire, wind, hail, water, theft, and vandalism. In addition, the company provides equipment breakdown, identity theft, and flood policies. The company markets and distributes its products through a network of independent agencies. The company was formerly known as United Insurance Holdings Corp. and changed its name to American Coastal Insurance Corporation in July 2023. American Coastal Insurance Corporation was founded in 1999 and is based in Saint Petersburg, Florida.

### Why customers stay

It earns 1.2% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-09); 10-year return on tangible equity observations [[2016,0.026539110022263418],[2017,0.0242234526956202],[2018,0.0006973936715131519],[2019,-0.07393803185038142],[2020,-0.3206816987944597],[2021,-0.2620935262867331],[2022,0],[2023,3.0763145094847184],[2024,0.4446780521036435],[2025,0.4195972005121398]]; median 0.012460423183566676. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 8 of 10 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-09); Dividend observations: [[2016,4974000],[2017,8991000],[2018,10268000],[2019,10280000],[2020,10313000],[2021,10350000],[2022,2589000],[2023,0],[2024,24102000],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 50.6% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); ACIC.US SharesStats.PercentInsiders = 50.63999999999999 percentage points; cache date 2026-10-05.

### What the price says

The price assumes profits grow 9.6% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-09); Price 10.95; FX 1; original perpetual distributable cash 0.04382264535061992; discount 0.1; growth 0.09599793193145024. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $14.50 per share

- 2016-11: $13.58 per share

- 2016-12: $15.14 per share

- 2017-01: $13.67 per share

- 2017-02: $16.92 per share

- 2017-03: $15.95 per share

- 2017-04: $15.26 per share

- 2017-05: $16.23 per share

- 2017-06: $15.73 per share

- 2017-07: $15.96 per share

- 2017-08: $15.74 per share

- 2017-09: $16.30 per share

- 2017-10: $15.74 per share

- 2017-11: $16.69 per share

- 2017-12: $17.25 per share

- 2018-01: $19.32 per share

- 2018-02: $19.55 per share

- 2018-03: $19.14 per share

- 2018-04: $18.86 per share

- 2018-05: $20.69 per share

- 2018-06: $19.58 per share

- 2018-07: $20.76 per share

- 2018-08: $20.83 per share

- 2018-09: $22.38 per share

- 2018-10: $19.72 per share

- 2018-11: $19.40 per share

- 2018-12: $16.62 per share

- 2019-01: $16.32 per share

- 2019-02: $16.38 per share

- 2019-03: $15.90 per share

- 2019-04: $15.32 per share

- 2019-05: $13.48 per share

- 2019-06: $14.26 per share

- 2019-07: $11.33 per share

- 2019-08: $11.72 per share

- 2019-09: $13.99 per share

- 2019-10: $12.26 per share

- 2019-11: $12.69 per share

- 2019-12: $12.61 per share

- 2020-01: $10.14 per share

- 2020-02: $9.40 per share

- 2020-03: $9.24 per share

- 2020-04: $8.55 per share

- 2020-05: $7.84 per share

- 2020-06: $7.82 per share

- 2020-07: $7.40 per share

- 2020-08: $7.57 per share

- 2020-09: $6.06 per share

- 2020-10: $4.39 per share

- 2020-11: $4.43 per share

- 2020-12: $5.72 per share

- 2021-01: $5.08 per share

- 2021-02: $6.22 per share

- 2021-03: $7.21 per share

- 2021-04: $5.59 per share

- 2021-05: $5.64 per share

- 2021-06: $5.70 per share

- 2021-07: $4.38 per share

- 2021-08: $3.81 per share

- 2021-09: $3.63 per share

- 2021-10: $3.82 per share

- 2021-11: $4.13 per share

- 2021-12: $4.34 per share

- 2022-01: $4.04 per share

- 2022-02: $3.66 per share

- 2022-03: $3.31 per share

- 2022-04: $2.29 per share

- 2022-05: $1.71 per share

- 2022-06: $1.56 per share

- 2022-07: $1.11 per share

- 2022-08: $1.01 per share

- 2022-09: $0.64 per share

- 2022-10: $0.41 per share

- 2022-11: $0.32 per share

- 2022-12: $1.06 per share

- 2023-01: $1.86 per share

- 2023-02: $1.80 per share

- 2023-03: $2.82 per share

- 2023-04: $4.13 per share

- 2023-05: $5.26 per share

- 2023-06: $4.46 per share

- 2023-07: $5.30 per share

- 2023-08: $7.50 per share

- 2023-09: $7.36 per share

- 2023-10: $7.49 per share

- 2023-11: $8.27 per share

- 2023-12: $9.46 per share

- 2024-01: $11.57 per share

- 2024-02: $13.94 per share

- 2024-03: $10.69 per share

- 2024-04: $10.47 per share

- 2024-05: $11.80 per share

- 2024-06: $10.55 per share

- 2024-07: $12.21 per share

- 2024-08: $11.23 per share

- 2024-09: $11.27 per share

- 2024-10: $12.15 per share

- 2024-11: $13.73 per share

- 2024-12: $13.46 per share

- 2025-01: $12.19 per share

- 2025-02: $12.14 per share

- 2025-03: $11.57 per share

- 2025-04: $11.43 per share

- 2025-05: $10.80 per share

- 2025-06: $11.12 per share

- 2025-07: $10.41 per share

- 2025-08: $11.05 per share

- 2025-09: $11.39 per share

- 2025-10: $11.84 per share

- 2025-11: $11.95 per share

- 2025-12: $12.63 per share

- 2026-01: $11.05 per share

- 2026-02: $11.39 per share

- 2026-03: $11.25 per share

- 2026-04: $11.90 per share

- 2026-05: $10.45 per share

- 2026-06: $11.10 per share

- 2026-07: $10.62 per share

- 2026-08: $9.47 per share

- 2026-09: $9.04 per share

- 2026-10: $10.95 per share

## Annual estimated value (USD per share)

- FY2016: low $10.96 per share, central $13.70 per share, high $18.27 per share

- FY2017: low $12.36 per share, central $15.46 per share, high $20.61 per share

- FY2018: low $7.82 per share, central $9.77 per share, high $13.03 per share

- FY2019: low $1.72 per share, central $2.15 per share, high $2.87 per share

- FY2020: low $1.28 per share, central $1.60 per share, high $2.13 per share

- FY2021: low $1.19 per share, central $1.31 per share, high $1.45 per share

- FY2023: low $0.26 per share, central $0.28 per share, high $0.31 per share

- FY2024: low $0.24 per share, central $0.27 per share, high $0.30 per share

- FY2025: low $0.36 per share, central $0.40 per share, high $0.45 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1401521/000140152126000015/acic-20251231.htm); period 2025-12-31, filed 2026-03-09.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations



# ACIC — American Coastal Insurance C

Held by 1 investor · USD 1,966,506 total · 2024 Q4 · reported price USD 13.46 (split-adjusted).
Page: https://gigainvestors.com/s/ACIC

## Holders (2024 Q4)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Michael Burry (https://gigainvestors.com/SAM) | USD 1,966,506 | 2.5% | add +46.1% |

## Total held by quarter

- 2023 Q4: USD 1,990,081 · 1 holder · USD 9.46
- 2024 Q1: USD 2,692,725 · 1 holder · USD 10.69
- 2024 Q2: USD 2,657,461 · 1 holder · USD 10.55
- 2024 Q3: USD 1,127,000 · 1 holder · USD 11.27
- 2024 Q4: USD 1,966,506 · 1 holder · USD 13.46
- 2025 Q1: USD 0 · 0 holders