Stewart Information Services Corp
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The substance test does not come out negative: there is no going-concern indication, equity is positive, interest coverage runs at roughly six times, debt-to-capitalization sits near 28 percent, and all covenants were most recently in compliance. Yellow here stands for two open operating questions. First, the core business grew revenue 15 percent in the second quarter of 2026 yet earned 1 percent less than a year earlier — whether Stewart can ever convert agency growth into profit is unproven. Second, 97 percent of equity consists of goodwill and intangibles whose valuation the auditor explicitly identifies as unusually judgement-heavy, with no cushion disclosed. This is a judgement on the substance of the company, not on the share price: whether the stock is expensive or cheap at $68.96 is for the scanners to answer, not this rating. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Stewart Information Services came through the rate shock without a single loss-making year, finances itself at 3.6 percent until 2031, and covered its 2025 dividend 2.3 times over. Revenue in 2025 was back at 88 percent of the 2021 record year — earnings per share, at $4.05, only 34 percent of the $11.90 posted then. Three shifts sit behind that: a mix favouring the channels where less sticks, interest expense up 52 percent in the first half of 2026, and 2,185,000 additional shares. And of the $54.63 of book value per share, roughly $1.58 is tangible. Not investment advice.
Business model and market position
Title insurance is a regulated business with high barriers to entry: archives, licences in every state, and a claims record spanning decades. Stewart has been in the market since 1893, and its underwriting subsidiary Stewart Title Guaranty carries “A-” ratings from Fitch and A.M. Best (as of December 31, 2025). The caveat: in its 2025 annual report the company itself concedes that Fidelity National Financial, First American and Old Republic each have substantially greater gross revenues.
Earnings power through the cycle
Stewart came through the rate shock without a loss-making year — but earnings per share fell from $11.90 in 2021 to $1.11 in 2023 and had recovered only to $4.05 by 2025. Revenue of $2,921.6 million in 2025 equalled 88 percent of the 2021 level; earnings per share equalled 34 percent. In the first half of 2026 revenue rose 26 percent and net income climbed from $35.0 million to $54.2 million.
Margin in the core business
In the second quarter of 2026 title segment operating revenue grew 15 percent to $683.6 million while pretax income fell 1 percent to $48.6 million and the segment margin slipped from 8.1 to 6.9 percent. The cause is mix: agency revenue rose 25 percent gross, but $314.9 million of the $377.0 million was passed back to the agencies.
Balance sheet quality
Of the $1,663.4 million of equity as of June 30, 2026, $1,293.8 million is goodwill and $321.6 million other intangibles — roughly 97 percent. Tangible book value works out to $48.0 million, or $1.58 per share, against a reported $54.63. KPMG designates the goodwill assessment a critical audit matter in the 2025 annual report; Stewart discloses no cushion between fair value and carrying value.
Financing and payout
The $450 million note costs 3.6 percent and runs to November 15, 2031; debt-to-capitalization stood at roughly 28 percent as of June 30, 2026, cash at $261.6 million, and undrawn credit facility capacity at $97.5 million. The 2025 dividend of $58.5 million was covered 2.3 times by $132.3 million of free cash flow — unlike in the trough year 2023.
Dilution
In the fourth quarter of 2025 Stewart issued 2,185,000 new shares for $140.8 million net to help fund the MCS acquisition. Average diluted share count rose from 28.330 million to 30.853 million within a year, up 8.9 percent: in the second quarter of 2026 net income grew 17 percent while earnings per share grew only 7 percent.
Worth Noting
This analysis was prompted by the ongoing review of the U.S. equity universe rather than a hit in our in-house stock scanner — Stewart was not covered in our database before August 21, 2026. The timing was set by the quarterly report for the period ended June 30, 2026, filed August 4, 2026.
Risk of confusion: the ticker STC belongs to Stewart Information Services Corporation (CIK 0000094344, NYSE, title insurance) — not to any of the identically abbreviated listings on foreign venues. The assignment was checked against the SEC ticker registry; the company reports no former names.
Operating figures carry their own balance sheet or reporting date (December 31, 2025 or June 30, 2026); price, market capitalization, valuation multiples and the 52-week range are as of August 20/21, 2026. The 2021 and 2022 figures come from the annual report for 2022. Analyses are evergreen — an intraday price is not a reason to buy.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at STC since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 57.40 $ to 77.20 $ · Last price: 65.40 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Insurance - Property & Casualty
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Stewart Information Services Corp STC | 2.0 | – | 0.0 | 61.9 | 4.0 | 17.3 | -9.3 |
| Chubb Ltd CB | 132.6 | 12.7 | 0.0 | 31.1 | 20.6 | 6.5 | 27.1 |
| Progressive Corp PGR | 126.0 | 11.7 | 21.9 | 18.5 | 16.4 | 16.3 | -5.5 |
| The Travelers Companies Inc TRV | 79.1 | 11.7 | 0.0 | 34.7 | 18.7 | 5.2 | 40.1 |
| The Allstate Corporation ALL | 64.9 | 5.9 | 0.0 | 36.8 | 19.0 | 4.6 | 30.3 |
| W. R. Berkley Corp WRB | 26.1 | 15.4 | 0.0 | 43.8 | 17.1 | 7.8 | -1.5 |
| Cincinnati Financial Corporation CINF | 25.8 | 10.1 | 0.0 | 31.1 | 11.8 | 11.4 | 13.9 |
| Markel Corporation MKL | 21.9 | 13.2 | 0.0 | 51.9 | -9.7 | -1.0 | -7.4 |
| Loews Corp L | 21.8 | 14.2 | 0.0 | 36.3 | 11.8 | 5.4 | 12.2 |
| Median of companies shown | 26.1 | 12.2 | 0.0 | 36.3 | 16.4 | 6.5 | 12.2 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 2,007 | 88 | 55 | 2.36 | 123 | 649 | 1,342 |
| 2017 | 1,956 | 75 | 49 | 2.06 | 108 | 679 | 1,406 |
| 2018 | 1,908 | 73 | 48 | 2.01 | 84 | 680 | 1,373 |
| 2019 | 1,940 | 117 | 79 | 3.31 | 166 | 747 | 1,593 |
| 2020 | 2,288 | 219 | 155 | 6.22 | 276 | 1,005 | 1,979 |
| 2021 | 3,306 | 434 | 323 | 11.90 | 390 | 2,132 | 2,813 |
| 2022 | 3,069 | 233 | 162 | 5.94 | 192 | 1,370 | 2,738 |
| 2023 | 2,257 | 61 | 30 | 1.11 | 83 | 1,371 | 2,703 |
| 2024 | 2,490 | 114 | 73 | 2.61 | 136 | 1,402 | 2,730 |
| 2025 | 2,922 | 166 | 116 | 3.98 | 206 | 1,641 | 3,253 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.80 | 153.20 | 666 | 14.40 | 3.40 | 68 | 56 |
| 2025: Q1 | 0.11 | -2.80 | 612 | 10.40 | 0.50 | -30 | -42 |
| 2025: Q2 | 1.13 | 82.00 | 722 | 19.90 | 4.40 | 53 | 39 |
| 2025: Q3 | 1.55 | 45.60 | 797 | 19.30 | 5.60 | 93 | 74 |
| 2025: Q4 | 1.25 | 55.40 | 791 | 18.70 | 4.60 | 90 | 62 |
| 2026: Q1 | 0.55 | 407.20 | 781 | 27.70 | 2.20 | -5 | -21 |
| 2026: Q2 | 1.21 | 7.10 | 899 | 24.50 | 4.10 | 61 | 61 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 10 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Dividends
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 5.52 | 5.06 – 5.80 | 3,550 | 13.0% | 3 |
| 12/31/2027 | 7.28 | 5.93 – 8.56 | 3,877 | 31.8% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 2.0% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $150.0M |
|---|---|
| Market cap | $1.98B |
| Free cash flow in year ten | $183.0M |
| Terminal value as a share of market value | 48.7% |
For comparison: over the past five years free cash flow shrank by 12.7% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Stewart nennt künstliche Intelligenz im Geschäftsbericht 2025 ausschließlich im Risikokapitel — als Technologie, die das eigene Geschäftsmodell der Titelversicherung stören kann, als Innovationshebel der Wettbewerber und Kreditgeber sowie als Regulierungsrisiko; ein eigenes KI-Produkt, eine KI-Strategie oder ein KI-Umsatzträger wird an keiner Stelle beschrieben.
View the full file — quotes, sources, reviewed filings
„Further, advances in technologies, including technology such as AI and machine learning, could, over time, significantly disrupt the traditional business model of financial services and real estate-related companies, including title insurance."
Darüber hinaus könnten Fortschritte bei Technologien, einschließlich solcher wie künstlicher Intelligenz und maschinellem Lernen, im Laufe der Zeit das traditionelle Geschäftsmodell von Finanzdienstleistern und immobiliennahen Unternehmen erheblich stören — einschließlich der Titelversicherung.
10-K · 2026-02-27 · View SEC filing
„Innovation initiatives include implementing advanced technologies, use of artificial intelligence (AI), processes and techniques to automate and streamline certain manual processes during title search, insurance policy issuance and real estate transaction settlement to improve the manner and timeliness of delivering products and services, increase efficiency, reduce costs, improve product and service quality and customer experience, and enhance risk management."
Zu den Innovationsinitiativen zählen der Einsatz fortschrittlicher Technologien, die Nutzung künstlicher Intelligenz (KI) sowie Verfahren und Techniken zur Automatisierung und Straffung bestimmter manueller Prozesse bei der Titelrecherche, der Policenausstellung und der Abwicklung von Immobilientransaktionen, um Art und Schnelligkeit der Leistungserbringung zu verbessern, die Effizienz zu steigern, Kosten zu senken, Produkt- und Servicequalität sowie das Kundenerlebnis zu verbessern und das Risikomanagement zu stärken.
10-K · 2026-02-27 · View SEC filing
„Further, the regulatory landscape surrounding the use of AI is rapidly evolving and remains uncertain, with potential for new laws, regulations or industry standards that could restrict the use of AI systems, impose compliance obligations, or result in enforcement actions or litigation."
Zudem entwickelt sich das regulatorische Umfeld rund um den Einsatz von KI rasch und bleibt unsicher; neue Gesetze, Vorschriften oder Branchenstandards könnten die Nutzung von KI-Systemen einschränken, Compliance-Pflichten auferlegen oder zu Vollzugsmaßnahmen beziehungsweise Rechtsstreitigkeiten führen.
10-K · 2026-02-27 · View SEC filing
Filings Reviewed: 10-Q 2026-08-04 · 10-Q 2026-05-06 · 10-K 2026-02-27 · 10-Q 2025-11-06 · 10-Q 2025-08-05 · 10-K 2025-02-28
Rated on August 21, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -1.6%
- More than 10% revenue growth is expected for the coming year 6.4%
- Share count grows by less than 3% a year 2.0%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 21.8%
- Gross margin at 40% or higher and without meaningful erosion 87.7%
- Goodwill from acquisitions does not grow faster than revenue 39.1%
- Net debt below twice EBITDA 1.7 x EBITDA
- Operating cash flow covers the profits of the last three years 205 m
- Return on capital at 15% or higher, or up versus two years ago 6.7%
- Insiders hold at least 10% or are net buyers 2.0%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 4.3%
- Exp. sales growth 3Y > 5% 15.2%
- EBIT growth 10Y > 5% 7.3%
- Exp. EBIT growth 3Y > 5% 35.3%
- Net debt < 4x EBIT 2.4x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 86.0%
- Return on equity > 15% 262.7%
- ROCE > 15% 6.7%
- Expected return > 10% 44.3%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Glaze Brian | PAO | Sell | 1,500 | 69.16 | 103,740 |
The company
About the Company
Stewart Information Services Corporation bietet über ihre Tochtergesellschaften Titelversicherung und damit verbundene Dienstleistungen für Immobilientransaktionen in den USA und international an. Das Unternehmen befasst sich mit Suche, Prüfung, Abschluss und Versicherung des Titelzustands von Immobilien.
- Employees
- 8,100
- Headquarters
- Houston, TX
- Address
- 1360 Post Oak Boulevard, 77056 Houston, United States
- Phone
- 713 625 8100
- Website
- stewart.com
- IPO Date
- 03/28/1990
- ISIN
- US8603721015
- Stock Split
- 2:1 on 05/24/1999
- Stock Split
- 3:2 on 04/29/1994
Management
| Name | Title | Birth Year |
|---|---|---|
| Frederick Henry Eppinger Jr. | CEO & Director | 1959 |
| Ryan M. Swed | Group President | 1982 |
| Erin E. Sheckler | Group President | 1976 |
| David C. Hisey CPA | CFO & Treasurer | 1960 |
| Elizabeth K. Giddens | Chief Legal Officer & Corporate Secretary | 1971 |
| Matthew W. Morris | Advisor & Director | 1972 |
| Brian K. Glaze | Principal Accounting Officer, Senior VP & Controller | 1969 |
| John Hamm | Chief Information Officer | – |
| Kathryn Bass | Director of Investor Relations | – |
| Mary P. Thomas | Chief Compliance & Regulatory Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/31/2026 STEWART INFORMATION SERVICES CORP (STC): Other Events; Financial Statements and Exhibits SEC ↗
- 07/22/2026 STEWART INFORMATION SERVICES CORP (STC): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/16/2026 STEWART INFORMATION SERVICES CORP (STC): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.