Positive Physicians Holdings

PPHI

Insurance - Specialty · Financial Services

Price

$7.50

-1.00 (-11.76%)

Market Cap

$27.1M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2022

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Good

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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)

Winston Score History

The full picture

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.

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

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

$210M 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

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

39.7%

Modest — 39.7% gross margin

Profit after running costs

Operating Margin

1.4%

Thin — 1.4% operating margin

Return on the money invested

ROCE

-4.1%

Weak — -4.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-0.0%

Shrinking sales (-0.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

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

What it owes vs what it owns

Debt / Equity

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

5.53%

Healthy income — 5.53% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

N/A

Data not available

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