Donegal Group A Inc (DGICA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Donegal Group A Inc stock $20.02, price $18.73, upside +6.9%, quality 56 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $10.75 – $20.31 · fair‑value band $17.86 – $25.68 · the $18.73 price screens below the $20.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Donegal Group Inc., an insurance holding company, provides commercial and personal lines of property and casualty coverages. It operates through three segments: Investment Function, Commercial Lines of Insurance, and Personal Lines of Insurance.
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The company offers protection against liability for bodily injury and property damage arising from automobile accidents and protection against loss from damage to automobiles owned by the insured for commercial automobile; protection to businesses against perils combining liability and physical damage coverages; and benefits to employees for injuries sustained during employment.
It provides protection against liability for bodily injury and property damage arising from automobile accidents and protection against loss from damage to automobiles owned by the insured for private passenger automobile; and coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft.
The company markets its insurance products primarily to Mid-Atlantic, Midwest, Southern, and Southwestern states through a network of independent insurance agents. The company was incorporated in 1986 and is based in Marietta, Pennsylvania.
Donegal Group Inc. operates as a subsidiary of Donegal Mutual Insurance Company.
Stock analysis
Donegal Group A Inc (DGICA) currently trades at $18.73, while our model-based Fair Value estimate is $20.02, so the stock looks roughly fairly valued today (gap 6.4%).
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Valuation
Bull case: the Multiples group reads highest at a median of $26.06 per share, and 3 of the 6 models we run sit above the $18.73 price.
Bear case: the Dividend Discount group reads lowest at $10.50, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: $17.86 (bear) to $25.68 (bull), the price of $18.73 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Donegal Group A Inc reported revenue of $978M in FY2025 versus $816M in FY2021, a compound +4.6%/yr. Reported net income was $79.3M in FY2025, compounding +33.1%/yr from FY2021.
Key figures
Market cap $695M Small · P/E ratio 10.1 · P/S ratio 0.73 · EPS (TTM) $1.86 · Dividend yield 1.0% · Net margin 7.2% · Return on equity 10.7% · Return on assets (EBIT) 1.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −29% fair-value upside, at 7%, DGICA screens cheaper than that median.
Fair Value models
Bear$17.86Fair Value $20.02Bull$25.68
Price $18.73 · Upside +6.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.43 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleDavid Benjamin BawelSVP & CHIEF ACCOUNTING OFFICER2× since Dec 11, 2025: 9,000 shares, avg. $19.36$174,268Sep 9, 2026
SaleBarry Craig HuberDirector4,500 shares at $19.43$87,435Sep 3, 2026
SaleVincent Anthony ViozziSr. VP & Chief Inv Officer2,282 shares at $19.50$44,499Sep 3, 2026
SaleChristina Marie HoffmanSr. VP & Chief Risk Officer18,000 shares at $19.67$354,060Aug 6, 2026
SaleDennis Joseph BixenmanDirector11,250 shares at $19.26$216,675Aug 4, 2026
SaleDavid Charles KingDirector9,000 shares at $19.33$173,970Aug 4, 2026
Plus 8 more entries from the last 12 months.
Plus 28 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Start year 2020 (pandemic). Over 10 years: +4.4% a year
Revenue growth 39 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.4%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.2% vs 13.0%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 10%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−35.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −36.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Property & Casualty · 100 stocks
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Cite: Fair Value Calculator (2026). "Donegal Group A Inc Fair Value". https://www.fairvalue-calculator.com/stock/DGICA
Frequently asked questions
Is Donegal Group A Inc (DGICA) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $20.02 versus a price of $18.73, about +7% upside (fairly valued).
What is the fair value of DGICA?
Our model-based fair value for Donegal Group A Inc is $20.02 (as of Nov 7, 2026), built from audited fundamentals. The current price: $18.73.
What is the quality score of DGICA?
Donegal Group A Inc has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Donegal Group A Inc (DGICA)?
Our model-based price target is the fair value of $20.02 (as of Nov 7, 2026) from 6 valuation models. Cautious scenario $17.86, optimistic scenario $25.68. It is a calculation from audited fundamentals, not an analyst target.
What is the Donegal Group A Inc stock forecast for 2026?
Our models put fair value at $20.02, about +7% upside versus a price of $18.73 (fairly valued). Cautious scenario $17.86, optimistic scenario $25.68. The calculation is refreshed regularly with new filings.
What is the revenue of Donegal Group A Inc (DGICA)?
Donegal Group A Inc reported trailing-twelve-month revenue of about $955M (latest available figure, as of Nov 7, 2026).
Does Donegal Group A Inc pay a dividend?
Donegal Group A Inc currently shows a dividend yield of 0.98% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Donegal Group A Inc (DGICA) and when is the ex-dividend date?
Donegal Group A Inc pays a dividend of $0.183 per share a year, a dividend yield of 1.0%. The last ex-dividend date was Nov 2, 2026. A dividend has been paid every year since at least 2001. The payout ratio is 9.8% of earnings. Free cash flow covers the dividend 12.16 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Donegal Group A Inc (DGICA)?
For today's price to be fair in a discounted-cash-flow model, Donegal Group A Inc would have to grow free cash flow by -35.1 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of DGICA use?
Our models discount Donegal Group A Inc at 11.2 %: a base by market capitalisation (small), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Donegal Group A Inc that is -35.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Donegal Group A Inc (DGICA) delivered so far?
Over the past 5 years revenue at Donegal Group A Inc grew +4.7 % a year. The price currently implies free-cash-flow growth of -35.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Donegal Group A Inc (DGICA) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Donegal Group A Inc (-35.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Donegal Group A Inc (DGICA)?
The free-cash-flow yield on the price is 11.75 %: that much free cash flow Donegal Group A Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Donegal Group A Inc (DGICA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Donegal Group A Inc it is $20.02 per share (as of Nov 7, 2026), against a price of $18.73. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Donegal Group A Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, DGICA trades below its calculated fair value: price $18.73, fair value $20.02, a gap of about +7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DGICA?
No. The price is what the market pays today ($18.73); the fair value is what the company's own numbers justify ($20.02). For Donegal Group A Inc the two are $1.29 per share apart. That gap is exactly why we show both numbers side by side.
How much is Donegal Group A Inc worth?
The market values Donegal Group A Inc at about $695M (market capitalisation, as of Nov 7, 2026). Per share that is $18.73; our models calculate a fair value of $20.02 per share.
What do the bullish and bearish scenarios say about DGICA?
Our models span a range for Donegal Group A Inc: cautious scenario $17.86, base $20.02, optimistic $25.68 per share (as of Nov 7, 2026, price $18.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DGICA?
Donegal Group A Inc trades at a price-to-earnings ratio of 10.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $20.02 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings, FY2023 ex one-offs: 12.7. Other multiples: PEG 1.4, P/B 1.1, P/S 0.7, EV/EBITDA 7.7.
What is the PEG ratio of DGICA?
The PEG ratio of Donegal Group A Inc is 1.38 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Donegal Group A Inc (DGICA)?
Balance-sheet figures for Donegal Group A Inc (as of Nov 7, 2026): return on equity 10.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is DGICA from its 52-week high?
Donegal Group A Inc trades at $18.73, about 8% below its 52-week high of $20.31 and 16% above the low of $16.16 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $20.02 is for.
Which stocks are comparable to Donegal Group A Inc?
From the same area (Financial Services) we also value Chubb Limited, The Progressive Corporation, The Travelers Companies, Inc, The Allstate Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Donegal Group A Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $18.73, calculated fair value $20.02 (+7%), Quality Score 56/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DGICA calculated?
We run Donegal Group A Inc through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $20.02 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Donegal Group A Inc currently trades 6% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Donegal Group A Inc (DGICA)?
The closing price on Nov 6, 2026 was $18.73. Our model-based fair value is $20.02, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Donegal Group A Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Donegal Group A Inc (DGICA) come from?
Earnings per share at Donegal Group A Inc grew +6.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.8 %, EBIT margin +2.7 %, tax rate +0.5 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Donegal Group A Inc
How large is the market capitalisation of Donegal Group A Inc (DGICA)?
The market capitalisation of Donegal Group A Inc is $695M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Donegal Group A Inc (DGICA)?
The price-to-sales ratio of Donegal Group A Inc is 0.73 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Donegal Group A Inc (DGICA)?
Earnings per share at Donegal Group A Inc are $1.86 (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Donegal Group A Inc (DGICA)?
The dividend yield of Donegal Group A Inc is 1.0% (payout 9.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Donegal Group A Inc (DGICA)?
The net margin of Donegal Group A Inc is 7.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Donegal Group A Inc (DGICA)?
The return on equity (ROE) of Donegal Group A Inc is 10.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Donegal Group A Inc (DGICA)?
On an EBIT basis the return on assets of Donegal Group A Inc is 1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Donegal Group A Inc (DGICA)?
The operating margin of Donegal Group A Inc is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Donegal Group A Inc (DGICA)?
Revenue at Donegal Group A Inc is growing −3.4% versus a year earlier (3y avg +4.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Donegal Group A Inc (DGICA)?
Earnings per share at Donegal Group A Inc are growing −11.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Donegal Group A Inc (DGICA) carry?
The net debt of Donegal Group A Inc is $8.2M (fiscal year 2025, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026