What is the primary revenue source for Horace Mann Educators (HMN)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze HMN's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Horace Mann Educators's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Horace Mann Educators Makes Money: HMN Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Revenue: USD 872.80M
Interest expense: USD 19.10M
Income tax expense: USD 16.40M

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YoY periods: H1 2026 compared with H1 2025

Source metrics

Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit
RevenueTotal revenues · Revenues
Interest expenseInterest expense

The filing lacks sufficient revenue breakdown data to identify specific revenue sources.

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Goodwill: USD 54.30M
Cash and cash equivalents: USD 46.20M
Total liabilities: USD 14.10B
Shareholder equity: USD 1.50B

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YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal shareholders’ equity · StockholdersEquity
Total liabilitiesTotal liabilities · Liabilities
Cash and cash equivalentsCash and cash equivalent · CashAndCashEquivalentsAtCarryingValue
GoodwillGoodwill · Goodwill

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 344.2% of net income.

Net income: USD 82.80M
Operating cash flow: USD 285.00M
Cash conversion: 344.20%

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income · NetIncomeLoss
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Capital expenditure data is missing, so free cash flow cannot be calculated.

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

The company returned cash to shareholders, but free cash flow data is missing, so coverage cannot be assessed.

Cash dividends: USD 29.10M
Share repurchases: USD 18.20M
Stock issuance proceeds: USD 3.70M
Net shareholder return: USD 43.60M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of equity · PaymentsForRepurchaseOfEquity · abs(node_value)
Stock issuance proceedsProceeds from exercise of stock options · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?