Positive Physicians Holdings

PPHI

Insurance - Specialty · Financial Services

Price

$8.50

+1.00 (+13.33%)

Market Cap

$30.7M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−25.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 4.8M (2017) → 3.6M (2021)

Positive Physicians Holdings is a specialty insurance company focused on medical malpractice coverage. It sells liability insurance policies to doctors, surgeons, and other healthcare providers who need protection if a patient sues them for medical errors. The company operates primarily in the northeastern United States, with a concentration in Pennsylvania.

The company earns money by collecting premiums from policyholders and investing those funds, which is the standard insurance business model. It is a small regional insurer competing against much larger national carriers, which makes it harder to spread risk across a big pool of customers. With a negative operating margin and low return on invested capital, the company is currently spending more than it earns, and its main challenge is improving underwriting discipline and claims management to reach consistent profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+204.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

1.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~7 years

$13M cash & investments

$13M cash & investments at current burn rate

Growth context

Positive Physicians Holdings is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

39.7%

Modest — 39.7% gross margin

Operating Margin

1.4%

Thin — 1.4% operating margin

ROCE

0.1%

Weak — 0.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-0.0%

Shrinking sales (-0.0% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-4.6%

Burning cash (-4.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.04

Conservative — low debt load (0.04)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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