Slide Insurance Holdings, Inc. (SLDE)
NASDAQFinancialsInsurance - Property & CasualtySnapshot 2026-09-04
$24.67-0.24%
Close 2026-09-04 · 1-day change
NASDAQFinancialsInsurance - Property & CasualtySnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Slide Insurance grows revenue to about $1.85B-$1.95B in 2026. Net income targets $455M-$470M, showing profit strength. The company is buying back $100M in shares, boosting shareholder value. Expansion into California supports growth.
Competitive pressures in Florida and director selling raise concerns. Net income growth may slow below targets. Share buybacks may not offset valuation risks.
The price is about 49% below our fair value near $45. Analysts expect 17% revenue growth, which aligns with management's $1.85B-$1.95B revenue target for 2026. Our view is cautious given elevated risk and recent pullback.
Breaks if: Significant market share loss or worsening competitive conditions in Florida
Breaks if: Net income falls below $455M in FY26
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on growth in the financial sector. The current thesis state is intact, supported by recent earnings beats and a strong trajectory in gross written premiums and net income.
The market appears to have priced in a low expectations gap, indicating that SLDE is seen as justified in its valuation. The company is viewed as cheap compared to peers, suggesting that there may be room for growth if performance continues to meet or exceed expectations.
Fundamentals are likely to continue on a positive trajectory, given the strong recent financial performance and management's commitment to achieving their targets. However, there is a moderate risk of missing guidance, which could impact sentiment.
The thesis hinges on the performance of sector bellwethers like CB, PGR, and TRV. If these companies continue to perform well, SLDE could benefit from the positive momentum in the financial sector. Conversely, any negative guidance from these peers could signal a downturn.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this improved outlook. There are no new threats impacting the thesis at this time.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Target full year net income between $455 million and $470 million in 2026, maintaining profitability growth.
Stated as a priority in 2 of last 2 quarters. Net income grew 50.8% year-over-year to $139.5 million in 2026-Q1 and 92.4% year-over-year to $134.9 million in 2026-Q2. Management reiterated the full-year 2026 net income guidance range of $455 million to $470 million in both quarters, indicating progress toward profitability targets with a positive trajectory.
“The Company also reiterated its expectations to generate full year net income in the range of $455 million to $470 million.”
“The Company also reiterated its expectations to generate full year net income in the range of $455 million to $470 million.”
Breaks if: Gross written premiums fall below $1.85B or exceed $1.95B in FY26
Continue to grow gross written premiums to between $1.85 billion and $1.95 billion in 2026 through organic expansion and selective growth opportunities.
Stated as a priority in 2 of last 2 quarters. Gross premiums written grew 49.1% year-over-year to $414.8 million in 2026-Q1 and 16.7% year-over-year to $508.0 million in 2026-Q2. Management reiterated the full-year 2026 guidance range of $1.85 billion to $1.95 billion gross written premiums in both quarters, showing delivery on growth with a positive trajectory.
“The Company reiterated its expectations to generate gross written premiums in the range of $1.85 billion to $1.95 billion.”
“The Company reiterated its expectations to generate gross written premiums in the range of $1.85 billion to $1.95 billion.”
Breaks if: Buyback program is canceled or materially delayed
Execute the authorized common stock repurchase program up to $100 million to return capital to shareholders.
Stated as a priority in 2 of last 2 quarters. The company repurchased 7.7 million shares in 2026-Q1 and 3.0 million shares in 2026-Q2 at average prices near $17.75-$17.95, with $114.1 million remaining authorized as of 2026-Q2. Management is actively delivering on the share buyback program with ongoing execution.
“During the quarter, the company repurchased 2,997,980 shares at a weighted average price of $17.95 per share with $114.1 million remaining under the program.”
“The company repurchased 7,724,240 shares at a weighted average price of $17.75 per share under the prior $120 million and new $125 million repurchase programs.”
Overall, SLDE's position looks stable for the next 1 to 3 years, driven by solid management execution and favorable sector conditions. Not investment advice.