Goosehead Insurance, Inc
- Open
- 53.70
- Day high
- 54.61
- Day low
- 52.19
- Prev close
- 52.96
- Volume
- 498K
- Mkt cap
- $1.3B
- P/E (TTM)
- 44.2
- EPS (TTM)
- $1.21
- P/B
- -10.5
- P/S
- 3.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$8.3M over the last 3 months (5 open-market buys, 11 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Goosehead Insurance, Inc (GSHD) is a Financial Services company listed on NASDAQ. The stock is down 47% over the past year. Over the trailing 3 months, insiders filed 5 open-market buys and 11 sales (SEC Form 4).
Goosehead Insurance, Inc (GSHD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GSHD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.20 | $0.30 | +50.0% | $93M | +9.5% |
| Feb 17, 2026 | $0.54 | $0.64 | +18.5% | $105M | +5.6% |
| Oct 22, 2025 | $0.47 | $0.46 | -2.1% | $90M | -9.5% |
| Jul 23, 2025 | $0.53 | $0.49 | -7.5% | $94M | -1.6% |
| Apr 23, 2025 | $0.23 | $0.26 | +13.0% | $76M | -3.2% |
| Oct 23, 2024 | $0.45 | $0.50 | +11.1% | $78M | -0.2% |
| Jul 24, 2024 | $0.40 | $0.42 | +5.0% | $78M | +5.2% |
| Feb 21, 2024 | $0.32 | $0.28 | -12.5% | $63M | -7.7% |
| Oct 25, 2023 | $0.31 | $0.46 | +48.4% | $71M | +1.7% |
| Jul 26, 2023 | $0.30 | $0.41 | +36.7% | $69M | +6.0% |
| Feb 22, 2023 | $0.12 | $0.11 | -8.3% | $57M | +10.8% |
| Oct 26, 2022 | $0.18 | $0.24 | +33.3% | $58M | +5.7% |
GSHD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 1, 2026 | Langston Patrick Ryan10 percent owner, other: Member of 10% owner group | Buy | 2,800 | $35.56 |
| May 29, 2026 | Martin John Arthurofficer: Chief Financial Officer | Buy | 5,000 | $34.73 |
| May 27, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 6,466 | $40.51 |
| May 27, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 3,122 | $41.28 |
| May 26, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 45,588 | $40.07 |
| May 22, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 79,339 | $41.74 |
| May 22, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 3,350 | $42.43 |
| May 21, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 20,730 | $42.21 |
| May 21, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 29,238 | $40.62 |
| May 21, 2026 | Mark & Robyn Jones Descendants Trust 201410 percent owner, other: Member of 10% owner group | Sell | 20,783 | $41.57 |
| May 18, 2026 | Thornthwaite Martin Ellisofficer: General Counsel | Buy | 5,000 | $41.50 |
| May 15, 2026 | Miller Markdirector, officer: President and CEO | Buy | 5,000 | $36.89 |
| May 15, 2026 | Jones Mark E. Jr.10 percent owner, officer, other: President & COO | Buy | 2,650 | $37.50 |
| May 7, 2026 | Reid Jamesdirector | Grant | 13,979 | $42.46 |
| May 7, 2026 | Jones Robyn Mary Elizabethdirector, 10 percent owner, other: Member of 10% owner group | Grant | 13,979 | $42.46 |
Source: GSHD SEC Form 4 filings, latest Jun 1, 2026. For informational purposes only — not investment advice.
See the full GSHD insider & 13F page →Goosehead Insurance, Inc company profile
Overview
Goosehead Insurance, Inc. (NASDAQ:GSHD) is a personal lines insurance distribution company founded in 2003 and headquartered in Westlake, Texas. The company went public in April 2018 and operates as a holding company for Goosehead Financial, LLC. Goosehead has grown from a startup to one of the fastest-growing insurance agencies in the United States, serving over 1.7 million policyholders through a hybrid distribution model that combines corporate-employed agents with a franchise network spanning multiple states.
Business
Goosehead Insurance operates as a personal lines insurance agency, which means it acts as an intermediary between consumers seeking insurance coverage and insurance carriers (the companies that actually underwrite and assume the risk of insurance policies). The company does not manufacture insurance products itself but rather distributes policies from multiple insurance carriers to consumers. The company operates in two primary business segments: 1. Franchise Channel - This segment generates approximately 80% of total written premiums and operates through independent franchise owners who pay Goosehead for the right to use its brand, technology platform, and carrier relationships. Franchisees typically operate local offices and employ licensed insurance agents who sell policies to consumers in their geographic territories. 2. Corporate Channel - This segment represents about 20% of total written premiums and consists of company-employed agents working from corporate offices. These agents are direct employees of Goosehead and sell insurance policies using the same technology platform and carrier relationships as the franchise network. Goosehead's core product offerings include homeowner's insurance, automotive insurance, dwelling property insurance, flood insurance, wind and earthquake coverage, excess liability or umbrella policies, motorcycle and recreational vehicle insurance, general liability, property insurance, and life insurance products. The company focuses specifically on personal lines insurance, which covers individuals and families rather than businesses. The insurance market is highly regulated, with each state having its own insurance commissioner and specific requirements for coverage, pricing, and agent licensing. The company's value proposition centers on providing consumers access to multiple insurance carriers through a single point of contact, allowing customers to compare coverage options and pricing from different insurers without having to contact each carrier individually. This is particularly valuable in the personal lines insurance market, where consumers often lack the expertise to navigate complex policy terms and coverage options across multiple carriers.
Revenue model
Goosehead generates revenue primarily through insurance commissions paid by carriers when policies are sold and renewed. The company earns a percentage of the premium paid by the customer, typically ranging from 10-20% depending on the product type and carrier agreement. This creates a recurring revenue stream as long as policies remain in force, since most personal lines insurance policies renew annually. The company's revenue model operates differently across its two channels: 1. Corporate Channel Revenue - Goosehead retains 100% of commissions earned by corporate agents, generating higher per-policy revenue but requiring the company to bear all costs associated with agent salaries, benefits, office space, and operations. 2. Franchise Channel Revenue - Goosehead typically retains approximately 20% of commissions earned by franchise agents, with the remainder going to franchise owners. While this generates lower per-policy revenue, it requires minimal operational investment from Goosehead since franchisees bear the costs of local operations. Additional revenue streams include contingent commissions, which are performance-based payments from carriers based on factors like loss ratios, premium volume, and policy retention. These payments can be significant but are variable and depend on overall market conditions and carrier profitability. Factors that positively impact margins include improved agent productivity, higher policy retention rates, favorable insurance market conditions (which increase contingent commissions), and scaling of the franchise network without proportional increases in corporate overhead. Conversely, margins face pressure from challenging insurance market conditions (particularly in catastrophe-prone regions like Texas, California, and Florida), increased competition among agents, higher employee costs, and technology investments required to maintain competitive advantages. The personal lines insurance market is also sensitive to broader economic conditions, as housing market slowdowns can reduce demand for homeowner's insurance and refinancing activity that often drives new policy sales.
Competitive moat
Goosehead's competitive moat is moderate and primarily based on network effects and operational scale, though it faces significant competitive pressures in a fragmented industry. The company's primary advantages include its relationships with multiple insurance carriers, which allows it to offer consumers choice and competitive pricing that single-carrier agents cannot match. The franchise model creates a distributed sales force with local market knowledge while maintaining centralized technology and carrier relationships, providing efficiency advantages over purely independent agencies. The company's Quote-to-Issue (QTI) technology platform represents a meaningful competitive advantage by streamlining the insurance purchasing process and improving agent productivity. This proprietary technology allows agents to quote, bind, and issue policies more efficiently than traditional systems, potentially reducing the time required to complete transactions from hours to minutes. However, Goosehead's moat faces several challenges. The insurance agency business has relatively low barriers to entry, and the company competes with large established players like State Farm, Allstate, and GEICO, which have significant brand recognition and direct-to-consumer capabilities. Independent insurance agencies can often access similar carrier relationships, and technology advantages may be temporary as competitors develop their own digital capabilities. The franchise model, while providing growth advantages, also creates potential risks if franchise relationships deteriorate or if high-performing franchisees decide to operate independently. Additionally, the company's growth depends heavily on recruiting and retaining quality agents in both corporate and franchise channels, creating ongoing competitive pressure for talent acquisition. The regulatory nature of the insurance industry and state-by-state licensing requirements provide some stability but also limit the company's ability to rapidly expand into new markets or adapt to changing conditions.
Risks & safety
Goosehead demonstrates a moderate margin of safety with solid financial fundamentals but elevated valuation metrics that suggest limited downside protection at current levels. • Liquidity and Solvency: Strong balance sheet with $54.3 million in cash and short-term investments, current ratio of 2.33, and positive free cash flow of $70.6 million in 2024. Debt-to-equity ratio of 3.49 appears concerning but reflects negative equity due to share repurchases rather than excessive debt burden. • Valuation Metrics: Expensive across multiple measures with P/E ratio of 86.9x, EV/EBITDA of 42.2x, and price-to-book ratio of 60.2x. These metrics suggest significant premium valuation that leaves little room for execution disappointments. • Other Considerations: Business model generates recurring revenue with 84% client retention, but growth depends on challenging insurance market conditions and agent recruitment in competitive labor market. Revenue visibility is strong given renewal nature of insurance policies, but margin expansion depends on market normalization and operational execution.
Recent development
Over the past few years, Goosehead has undergone significant strategic evolution focused on profitable growth and operational efficiency. The company shifted from pure growth-at-any-cost to emphasizing agent productivity and franchise quality, including culling underperforming franchises and restructuring sales management to improve oversight and support. Key technological developments include the launch and expansion of the Quote-to-Issue (QTI) platform, which has been rolled out to multiple carriers and significantly improved agent productivity. The company has also begun investing in artificial intelligence tools for policy recommendations and client interactions, while developing a mobile app to enhance customer experience. Strategically, Goosehead has focused on geographic expansion, opening a new corporate office in Phoenix to establish a Western U.S. presence, and has emphasized recruiting higher-quality agents rather than simply maximizing headcount. The company has also explored new distribution channels, including partnerships with companies like Vivint Smart Home and mortgage servicers to access middle-market opportunities. Recent management changes include Mark Jones transitioning to Executive Chairman role with Mark Miller becoming President and CEO, representing a planned leadership succession. The company has also implemented a $100 million share repurchase program, signaling confidence in its business model and returning capital to shareholders while the stock trades at what management considers attractive levels. Operationally, the company has navigated challenging insurance market conditions, particularly in catastrophe-prone states, while maintaining growth momentum. Franchise productivity has improved significantly, with first-year franchise productivity up 133% year-over-year, demonstrating the effectiveness of the company's strategic refinements.
GSHD company profile · for informational purposes only — not investment advice.
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