Verisk Analytics

Verisk’s balance sheet is solid for a data software company with durable cash flows. At 2024 year‑end, total debt was about 3.06 billion; in March 2025 the company issued 700 million of 2035 notes and later retired the 500 million 2025 notes.

With 2025 adjusted EBITDA guided to roughly 1.69–1.72 billion and cash generation over 1 billion, net leverage is comfortably within investment‑grade territory and maturities are laddered out to 2033–2035. Operating cash flow was 1.144 billion and free cash flow 920 million in 2024, with Q1 2025 and Q3 2025 each showing strong year‑on‑year FCF growth, reinforcing liquidity.

Dividends are fully covered. Key watch items include higher interest expense from refinancing and any incremental debt tied to M&A, though discipline has been evident.