Mercury General (MCY) Financials

$79.22 +1.56 (+2.00%)

As of 03:10 PM Eastern

Annual Income Statements for Mercury General

This table shows Mercury General's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	74	73	145	-5.73	320	375	248	-513	96	468
Consolidated Net Income / (Loss)	74	73	145	-5.73	337	375	248	-513	96	468
Net Income / (Loss) Continuing Operations	74	73	145	-5.73	337	375	248	-513	96	468
Total Pre-Tax Income	71	71	167	-31	378	459	299	-671	99	575
Total Revenue	3,006	3,224	3,401	3,363	3,973	3,767	3,976	3,626	4,605	5,445
Net Interest Income / (Expense)	-3.17	-3.96	-15	-17	-17	-17	-17	-17	-24	-31
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	3.17	3.96	15	17	17	17	17	17	24	31
Long-Term Debt Interest Expense	3.17	3.96	15	17	17	17	17	17	24	31
Total Non-Interest Income	3,009	3,228	3,416	3,380	3,973	3,785	3,993	3,643	4,630	5,476
Other Service Charges	8.91	8.29	12	9.28	9.04	8.29	10	10	20	32
Net Realized & Unrealized Capital Gains on Investments	-84	-34	84	-134	223	86	112	-488	101	89
Premiums Earned	2,958	3,132	3,195	3,368	3,599	3,556	3,742	3,952	4,274	5,075
Other Non-Interest Income	126	122	125	136	141	135	130	168	235	280
Total Non-Interest Expense	2,936	3,153	3,234	3,394	3,577	3,309	3,677	4,297	4,506	4,870
Property & Liability Insurance Claims	2,146	2,355	2,445	2,577	2,706	2,395	2,760	3,362	3,518	3,685
Other Operating Expenses	251	235	233	245	269	286	283	280	280	327
Amortization Expense	539	563	555	572	602	628	633	655	709	858
Income Tax Expense	-3.91	-2.32	22	-25	58	84	51	-158	3.09	107
Basic Earnings per Share	$1.35	$1.32	$2.62	($0.10)	$5.78	$6.77	$4.48	($9.26)	$1.74	$8.45
Weighted Average Basic Shares Outstanding	55.16M	55.25M	55.32M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Diluted Earnings per Share	$1.35	$1.32	$2.62	($0.10)	$5.78	$6.77	$4.48	($9.26)	$1.74	$8.45
Weighted Average Diluted Shares Outstanding	55.16M	55.25M	55.32M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Weighted Average Basic & Diluted Shares Outstanding	55.16M	55.25M	55.32M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Cash Dividends to Common per Share	$2.47	$2.48	$2.49	$2.50	$2.51	$2.52	$2.53	$1.91	$1.27	$1.27

This table shows Mercury General's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-98	-6.77	-45	-42	-8.23	191	73	63	231	101	-108
Consolidated Net Income / (Loss)	-98	-6.77	-45	-42	-8.23	191	73	63	231	101	-108
Net Income / (Loss) Continuing Operations	-98	-6.77	-45	-42	-8.23	191	73	63	231	101	-108
Total Pre-Tax Income	-129	-17	-62	-61	-15	238	89	75	287	123	-142
Total Revenue	896	1,147	1,102	1,078	1,059	1,367	1,266	1,297	1,523	1,359	1,387
Net Interest Income / (Expense)	-4.27	-4.41	-4.93	-5.55	-5.92	-7.77	-7.77	-7.80	-7.72	-7.54	-7.19
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	4.27	4.41	4.93	5.55	5.92	7.77	7.77	7.80	7.72	7.54	7.19
Long-Term Debt Interest Expense	4.27	4.41	4.93	5.55	5.92	7.77	7.77	7.80	7.72	7.54	7.19
Total Non-Interest Income	900	1,152	1,107	1,083	1,065	1,375	1,274	1,305	1,530	1,366	1,394
Other Service Charges	3.00	3.17	0.89	10	3.92	4.61	4.20	-2.90	23	7.68	6.01
Net Realized & Unrealized Capital Gains on Investments	-144	93	49	-20	-90	162	38	2.90	114	-67	23
Premiums Earned	997	1,005	1,005	1,034	1,090	1,145	1,167	1,236	1,321	1,352	1,283
Other Non-Interest Income	45	50	52	58	61	63	65	69	73	73	81
Total Non-Interest Expense	1,025	1,165	1,164	1,139	1,075	1,129	1,177	1,222	1,236	1,235	1,529
Property & Liability Insurance Claims	787	926	930	898	824	867	904	937	918	925	1,221
Other Operating Expenses	69	71	70	68	69	72	77	82	87	82	79
Amortization Expense	169	167	165	173	182	190	196	204	230	228	229
Income Tax Expense	-31	-11	-17	-20	-7.00	47	16	13	56	22	-34
Basic Earnings per Share	($1.78)	($0.12)	($0.82)	($0.75)	($0.15)	$3.46	$1.33	$1.13	$4.17	$1.82	($1.96)
Weighted Average Basic Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.39M	55.39M
Diluted Earnings per Share	($1.78)	($0.12)	($0.82)	($0.75)	($0.15)	$3.46	$1.33	$1.13	$4.17	$1.82	($1.96)
Weighted Average Diluted Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.38M	55.38M	55.39M	55.39M
Weighted Average Basic & Diluted Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.39M	55.39M
Cash Dividends to Common per Share	$0.32	-	$0.32	$0.32	$0.32	-	$0.32	$0.32	$0.32	-	$0.32

This table details how cash moves in and out of Mercury General's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-26	-44	71	23	-20	54	-13	-46	261	169
Net Cash From Operating Activities	190	292	341	383	520	606	502	353	453	1,037
Net Cash From Continuing Operating Activities	190	292	341	383	520	606	502	352	453	1,037
Net Income / (Loss) Continuing Operations	74	73	145	-5.73	320	375	248	-513	96	468
Consolidated Net Income / (Loss)	74	73	145	-5.73	320	375	248	-513	96	468
Depreciation Expense	48	53	55	59	65	68	79	82	72	73
Non-Cash Adjustments to Reconcile Net Income	84	34	-87	134	-223	-86	-112	488	-107	-102
Changes in Operating Assets and Liabilities, net	-16	131	228	197	358	248	286	294	391	598
Net Cash From Investing Activities	-82	-227	-186	-222	-401	-411	-374	-316	-295	-797
Net Cash From Continuing Investing Activities	-82	-227	-186	-222	-401	-411	-374	-316	-295	-797
Purchase of Investment Securities	-1,734	-2,000	-1,585	-1,733	-1,707	-2,149	-2,460	-2,873	-2,178	-3,431
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	-	0.03	0.00	30	13
Sale and/or Maturity of Investments	1,646	1,744	1,444	1,524	1,308	1,737	2,078	2,535	1,889	2,589
Other Investing Activities, net	-1.39	30	-45	14	-2.54	0.87	8.33	22	-36	32
Net Cash From Financing Activities	-134	-109	-85	-138	-138	-140	-141	-82	104	-71
Net Cash From Continuing Financing Activities	-134	-109	-85	-138	-138	-140	-141	-82	104	-71
Issuance of Debt	0.00	30	371	-	-	0.00	0.00	25	175	0.00
Repayment of Debt	0.00	0.00	-320	0.00	0.00	-0.61	-0.83	-1.50	-1.10	-1.53
Payment of Dividends	-136	-137	-138	-138	-139	-140	-140	-105	-70	-70
Other Financing Activities, Net	2.11	-1.66	2.16	0.36	0.70	0.00	0.22	0.00	0.00	0.75
Cash Interest Paid	2.99	3.53	9.86	17	17	17	17	17	23	30
Cash Income Taxes Paid	31	-0.18	25	-11	-15	53	69	-27	-58	95

This table details how cash moves in and out of Mercury General's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	46	-46	-19	87	96	97	-21	79	6.94	104	565
Net Cash From Operating Activities	90	68	18	87	122	225	193	278	318	248	-69
Net Cash From Continuing Operating Activities	90	67	18	87	122	225	193	278	312	255	-69
Net Income / (Loss) Continuing Operations	-98	-6.77	-45	-42	-8.23	191	73	63	231	101	-108
Consolidated Net Income / (Loss)	-98	-6.77	-45	-42	-8.23	191	73	63	231	101	-108
Depreciation Expense	19	18	17	19	18	18	17	17	19	20	17
Non-Cash Adjustments to Reconcile Net Income	144	-93	-47	12	90	-162	-38	3.32	-141	73	-23
Changes in Operating Assets and Liabilities, net	25	149	93	98	22	178	140	195	203	61	46
Net Cash From Investing Activities	-26	-121	-70	18	-133	-111	-195	-181	-294	-127	652
Net Cash From Continuing Investing Activities	-26	-121	-70	18	-133	-111	-195	-181	-294	-127	652
Purchase of Investment Securities	-769	-792	-482	-422	-635	-639	-830	-751	-952	-899	-806
Sale and/or Maturity of Investments	757	638	449	403	486	552	624	560	652	753	1,489
Other Investing Activities, net	-14	33	-38	8.46	16	-24	11	9.82	-6.58	18	-32
Net Cash From Financing Activities	-18	7.06	32	-18	107	-18	-19	-18	-18	-17	-18
Net Cash From Continuing Financing Activities	-18	7.06	32	-18	107	-18	-19	-18	-18	-17	-18
Repayment of Debt	-0.21	-0.36	-0.49	-0.15	-0.21	-0.25	-0.99	-0.44	0.02	-0.12	-0.75
Payment of Dividends	-18	-18	-18	-18	-18	-18	-18	-18	-18	-18	-18
Cash Interest Paid	8.29	0.05	8.32	0.09	11	3.47	12	3.27	12	3.29	11
Cash Income Taxes Paid	0.00	-27	0.00	-0.07	0.00	-58	3.40	21	19	51	-3.28

This table presents Mercury General's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	4,629	4,789	5,101	5,434	5,889	6,328	6,772	6,514	7,103	8,311
Cash and Due from Banks	264	220	291	314	294	348	336	290	551	720
Trading Account Securities	3,195	3,172	3,430	3,515	3,818	4,354	5,002	4,788	5,050	5,793
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	43	41	39	45	40	43	43	52	59	68
Premises and Equipment, Net	157	156	145	153	169	179	191	171	151	138
Unearned Premiums Asset	437	459	474	555	605	589	616	566	602	691
Deferred Acquisition Cost	202	201	198	215	233	247	258	266	294	335
Goodwill	43	43	43	43	43	43	43	43	43	43
Intangible Assets	32	26	21	16	11	11	10	9.21	8.33	7.68
Other Assets	256	471	460	578	676	514	273	328	345	515
Total Liabilities & Shareholders' Equity	4,629	4,789	5,101	5,434	5,889	6,328	6,772	6,514	7,103	8,311
Total Liabilities	2,808	3,036	3,340	3,816	4,090	4,296	4,632	4,992	5,555	6,364
Other Short-Term Payables	123	112	108	115	143	194	169	152	175	242
Long-Term Debt	290	320	371	372	372	373	373	398	574	574
Claims and Claim Expense	1,147	1,290	1,511	1,829	1,921	1,991	2,226	2,585	2,786	3,152
Unearned Premiums Liability	1,049	1,074	1,102	1,236	1,356	1,406	1,520	1,546	1,736	2,040
Other Long-Term Liabilities	199	239	248	264	297	321	344	311	285	356
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,821	1,752	1,761	1,618	1,800	2,033	2,140	1,522	1,548	1,947
Total Preferred & Common Equity	1,821	1,752	1,761	1,618	1,800	2,033	2,140	1,522	1,548	1,947
Total Common Equity	1,821	1,752	1,761	1,618	1,800	2,033	2,140	1,522	1,548	1,947
Common Stock	100	96	98	98	99	99	99	99	99	100
Retained Earnings	1,721	1,657	1,664	1,520	1,701	1,934	2,041	1,423	1,449	1,847

This table presents Mercury General's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	6,455	6,589	6,691	6,922	7,396	7,727	8,153	9,028
Cash and Due from Banks	336	270	358	454	530	609	616	1,285
Trading Account Securities	4,582	4,828	4,765	4,786	5,291	5,478	5,730	5,188
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	49	53	56	58	61	64	65	62
Premises and Equipment, Net	190	159	160	149	152	134	136	142
Unearned Premiums Asset	641	563	585	620	677	705	725	746
Deferred Acquisition Cost	280	266	278	297	308	327	341	336
Goodwill	43	43	43	43	43	43	43	43
Intangible Assets	9.46	8.99	8.77	8.55	8.35	8.13	7.91	7.47
Other Assets	325	398	437	508	326	358	489	1,219
Total Liabilities & Shareholders' Equity	6,455	6,589	6,691	6,922	7,396	7,727	8,153	9,028
Total Liabilities	4,908	5,130	5,291	5,548	5,792	6,078	6,291	7,207
Other Short-Term Payables	155	151	165	167	178	204	232	172
Long-Term Debt	373	448	449	574	574	574	574	574
Claims and Claim Expense	2,433	2,678	2,720	2,724	2,859	2,976	3,074	3,793
Unearned Premiums Liability	1,635	1,551	1,632	1,749	1,854	1,974	2,077	2,121
Other Long-Term Liabilities	311	301	324	335	327	350	335	547
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,546	1,459	1,400	1,374	1,604	1,649	1,862	1,821
Total Preferred & Common Equity	1,546	1,459	1,400	1,374	1,604	1,649	1,862	1,821
Total Common Equity	1,546	1,459	1,400	1,374	1,604	1,649	1,862	1,821
Common Stock	99	99	99	99	99	99	99	100
Retained Earnings	1,448	1,360	1,301	1,275	1,505	1,550	1,763	1,721

This table displays calculated financial ratios and metrics derived from Mercury General's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.10%	7.24%	5.49%	-1.11%	18.13%	-5.16%	5.54%	-8.81%	27.02%	18.23%
EBITDA Growth	-59.78%	4.77%	79.31%	-87.33%	1,532.01%	14.60%	-28.20%	-255.49%	129.18%	277.66%
EBIT Growth	-71.48%	0.32%	136.03%	-118.32%	1,390.56%	16.05%	-34.72%	-324.09%	114.82%	478.19%
NOPAT Growth	-58.15%	-1.96%	98.41%	-114.79%	1,593.60%	17.03%	-33.81%	-289.36%	120.52%	385.75%
Net Income Growth	-58.15%	-1.93%	98.37%	-103.95%	5,985.51%	11.12%	-33.81%	-306.78%	118.79%	385.75%
EPS Growth	-58.20%	-2.22%	98.48%	-103.82%	5,880.00%	17.13%	-33.83%	-306.70%	118.79%	385.63%
Operating Cash Flow Growth	-22.82%	53.30%	17.05%	12.31%	35.53%	16.54%	-17.18%	-29.70%	28.48%	128.94%
Free Cash Flow Firm Growth	416.39%	-13.59%	-24.17%	44.13%	13.13%	2.35%	-0.89%	-11.87%	-185.25%	165.83%
Invested Capital Growth	-2.52%	-1.82%	2.91%	-6.72%	9.16%	10.75%	4.49%	-23.59%	10.49%	18.79%
Revenue Q/Q Growth	2.18%	-1.49%	3.54%	-1.19%	4.98%	1.80%	-0.56%	2.90%	5.01%	-0.15%
EBITDA Q/Q Growth	74.38%	-41.83%	37.45%	-81.32%	54.55%	44.44%	-30.74%	-10.66%	304.46%	-14.84%
EBIT Q/Q Growth	281.96%	-51.45%	56.85%	-132.78%	68.08%	54.43%	-36.53%	-8.44%	163.79%	-16.60%
NOPAT Q/Q Growth	146.95%	-40.36%	46.33%	-122.34%	54.97%	56.38%	-35.47%	-8.44%	188.30%	-16.18%
Net Income Q/Q Growth	147.61%	-40.42%	46.41%	-105.97%	63.25%	46.01%	-35.47%	-7.83%	194.61%	-16.18%
EPS Q/Q Growth	154.72%	-40.54%	46.37%	-105.75%	55.38%	55.99%	-35.35%	-7.93%	194.57%	-16.25%
Operating Cash Flow Q/Q Growth	-2.80%	14.21%	-3.65%	-1.72%	10.14%	10.24%	-15.04%	-1.63%	53.36%	2.27%
Free Cash Flow Firm Q/Q Growth	2.98%	-18.30%	48.25%	-11.37%	0.02%	0.18%	0.11%	-25.35%	23.50%	-1.07%
Invested Capital Q/Q Growth	-0.41%	-1.57%	-0.68%	-5.53%	-0.14%	5.80%	-0.18%	0.04%	8.93%	3.46%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	3.94%	3.85%	6.54%	0.84%	11.58%	13.99%	9.52%	-16.23%	3.73%	11.91%
EBIT Margin	2.35%	2.20%	4.91%	-0.91%	9.95%	12.17%	7.53%	-18.50%	2.16%	10.56%
Profit (Net Income) Margin	2.48%	2.27%	4.26%	-0.17%	8.49%	9.94%	6.24%	-14.14%	2.09%	8.59%
Tax Burden Percent	105.54%	103.32%	86.72%	18.71%	89.17%	81.70%	82.84%	76.44%	96.89%	81.40%
Interest Burden Percent	100.01%	99.87%	100.00%	100.00%	95.69%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-5.54%	-3.28%	13.29%	0.00%	15.34%	18.30%	17.16%	0.00%	3.11%	18.60%
Return on Invested Capital (ROIC)	3.48%	3.49%	6.89%	-1.04%	15.38%	16.37%	10.08%	-21.18%	4.77%	20.16%
ROIC Less NNEP Spread (ROIC-NNEP)	3.48%	3.50%	6.90%	3.19%	19.97%	16.37%	10.08%	-32.37%	4.77%	20.16%
Return on Net Nonoperating Assets (RNNOA)	0.55%	0.60%	1.36%	0.70%	4.35%	3.18%	1.80%	-6.82%	1.51%	6.62%
Return on Equity (ROE)	4.03%	4.09%	8.25%	-0.34%	19.73%	19.55%	11.88%	-28.00%	6.28%	26.78%
Cash Return on Invested Capital (CROIC)	6.04%	5.33%	4.02%	5.91%	6.63%	6.17%	5.69%	5.56%	-5.20%	2.98%
Operating Return on Assets (OROA)	1.53%	1.50%	3.38%	-0.58%	6.98%	7.51%	4.57%	-10.10%	1.46%	7.46%
Return on Assets (ROA)	1.61%	1.55%	2.93%	-0.11%	5.95%	6.13%	3.79%	-7.72%	1.41%	6.07%
Return on Common Equity (ROCE)	4.03%	4.09%	8.25%	-0.34%	19.73%	19.55%	11.88%	-28.00%	6.28%	26.78%
Return on Equity Simple (ROE_SIMPLE)	4.09%	4.17%	8.23%	-0.35%	18.73%	18.43%	11.58%	-33.68%	6.22%	24.04%
Net Operating Profit after Tax (NOPAT)	74	73	145	-21	320	375	248	-470	96	468
NOPAT Margin	2.48%	2.27%	4.26%	-0.64%	8.06%	9.94%	6.24%	-12.95%	2.09%	8.59%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.01%	-0.01%	-4.23%	-4.58%	0.00%	0.00%	11.20%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	97.65%	97.80%	95.09%	100.91%	90.05%	87.83%	92.47%	118.50%	97.84%	89.44%
Earnings before Interest and Taxes (EBIT)	71	71	167	-31	395	459	299	-671	99	575
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	118	124	222	28	460	527	378	-588	172	648
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.96	1.35	1.25	1.38	1.23	1.23	1.25	1.17	1.30	1.89
Price to Tangible Book Value (P/TBV)	1.00	1.41	1.30	1.44	1.27	1.27	1.28	1.21	1.35	1.94
Price to Revenue (P/Rev)	0.58	0.74	0.65	0.67	0.56	0.67	0.67	0.49	0.44	0.68
Price to Earnings (P/E)	23.49	32.45	15.19	0.00	6.91	6.70	10.75	0.00	20.97	7.87
Dividend Yield	7.80%	5.79%	6.26%	6.19%	6.29%	5.57%	5.26%	5.93%	3.48%	1.91%
Earnings Yield	4.26%	3.08%	6.58%	0.00%	14.47%	14.93%	9.31%	0.00%	4.77%	12.71%
Enterprise Value to Invested Capital (EV/IC)	0.84	1.19	1.07	1.15	1.05	1.05	1.08	0.98	0.96	1.40
Enterprise Value to Revenue (EV/Rev)	0.59	0.77	0.67	0.68	0.58	0.67	0.68	0.52	0.44	0.65
Enterprise Value to EBITDA (EV/EBITDA)	14.99	19.91	10.26	81.49	4.98	4.81	7.14	0.00	11.90	5.45
Enterprise Value to EBIT (EV/EBIT)	25.15	34.90	13.65	0.00	5.79	5.52	9.03	0.00	20.54	6.15
Enterprise Value to NOPAT (EV/NOPAT)	23.83	33.83	15.75	0.00	7.15	6.76	10.90	0.00	21.20	7.55
Enterprise Value to Operating Cash Flow (EV/OCF)	9.33	8.47	6.68	5.99	4.41	4.18	5.39	5.35	4.51	3.41
Enterprise Value to Free Cash Flow (EV/FCFF)	13.76	22.15	26.98	18.84	16.61	17.95	19.32	15.31	0.00	51.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.18	0.21	0.23	0.21	0.18	0.17	0.26	0.37	0.30
Long-Term Debt to Equity	0.16	0.18	0.21	0.23	0.21	0.18	0.17	0.26	0.37	0.30
Financial Leverage	0.16	0.17	0.20	0.22	0.22	0.19	0.18	0.21	0.32	0.33
Leverage Ratio	2.50	2.64	2.81	3.12	3.31	3.19	3.14	3.63	4.44	4.41
Compound Leverage Factor	2.50	2.63	2.81	3.12	3.17	3.19	3.14	3.63	4.44	4.41
Debt to Total Capital	13.74%	15.44%	17.41%	18.69%	17.14%	15.49%	14.84%	20.74%	27.04%	22.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.74%	15.44%	17.41%	18.69%	17.14%	15.49%	14.84%	20.74%	27.04%	22.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.26%	84.56%	82.59%	81.31%	82.86%	84.51%	85.16%	79.26%	72.96%	77.22%
Debt to EBITDA	2.45	2.58	1.67	13.19	0.81	0.71	0.99	-0.68	3.34	0.89
Net Debt to EBITDA	0.22	0.80	0.36	2.04	0.17	0.05	0.10	-0.18	0.13	-0.23
Long-Term Debt to EBITDA	2.45	2.58	1.67	13.19	0.81	0.71	0.99	-0.68	3.34	0.89
Debt to NOPAT	3.89	4.38	2.56	-17.35	1.16	0.99	1.50	-0.85	5.96	1.23
Net Debt to NOPAT	0.35	1.37	0.55	-2.68	0.24	0.06	0.15	-0.23	0.24	-0.31
Long-Term Debt to NOPAT	3.89	4.38	2.56	-17.35	1.16	0.99	1.50	-0.85	5.96	1.23
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	129	112	85	122	138	141	140	123	-105	69
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	1,371.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	40.73	28.14	5.57	7.15	8.09	8.28	8.17	7.15	-4.35	2.24
Operating Cash Flow to Interest Expense	60.06	73.62	22.51	22.51	30.51	35.52	29.31	20.46	18.74	33.65
Operating Cash Flow Less CapEx to Interest Expense	60.06	73.62	22.51	20.87	30.51	35.52	29.31	20.46	19.98	34.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.68	0.69	0.64	0.70	0.62	0.61	0.55	0.68	0.71
Fixed Asset Turnover	19.02	20.60	22.59	22.55	24.67	21.66	21.48	19.99	28.55	37.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,111	2,072	2,133	1,989	2,172	2,405	2,513	1,920	2,122	2,521
Invested Capital Turnover	1.41	1.54	1.62	1.63	1.91	1.65	1.62	1.64	2.28	2.35
Increase / (Decrease) in Invested Capital	-55	-38	60	-143	182	233	108	-593	201	399
Enterprise Value (EV)	1,775	2,470	2,281	2,296	2,289	2,533	2,702	1,887	2,043	3,535
Market Capitalization	1,749	2,370	2,201	2,239	2,212	2,509	2,665	1,778	2,020	3,681
Book Value per Share	$33.01	$31.71	$31.83	$29.23	$32.51	$36.72	$38.65	$27.49	$27.96	$35.15
Tangible Book Value per Share	$31.66	$30.47	$30.69	$28.18	$31.54	$35.74	$37.70	$26.55	$27.04	$34.24
Total Capital	2,111	2,072	2,133	1,989	2,172	2,405	2,513	1,920	2,122	2,521
Total Debt	290	320	371	372	372	373	373	398	574	574
Total Long-Term Debt	290	320	371	372	372	373	373	398	574	574
Net Debt	26	100	80	57	78	24	37	109	23	-146
Capital Expenditures (CapEx)	0.00	0.00	0.00	28	0.00	0.00	-0.03	-0.00	-30	-13
Net Nonoperating Expense (NNE)	0.00	-0.02	-0.02	-16	-17	0.00	0.00	43	0.00	0.00
Net Nonoperating Obligations (NNO)	290	320	371	372	372	373	373	398	574	574
Total Depreciation and Amortization (D&A)	48	53	55	59	65	68	79	82	72	73
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.35	$1.32	$2.62	($0.10)	$5.78	$6.77	$4.48	($9.26)	$1.74	$8.45
Adjusted Weighted Average Basic Shares Outstanding	55.16M	55.29M	55.33M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Adjusted Diluted Earnings per Share	$1.35	$1.32	$2.62	($0.10)	$5.78	$6.77	$4.48	($9.26)	$1.74	$8.45
Adjusted Weighted Average Diluted Shares Outstanding	55.16M	55.29M	55.33M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$5.78	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.16M	55.29M	55.33M	55.34M	55.36M	55.36M	55.37M	110.74M	55.37M	55.39M
Normalized Net Operating Profit after Tax (NOPAT)	49	49	145	-21	320	375	248	-470	96	468
Normalized NOPAT Margin	1.64%	1.54%	4.26%	-0.64%	8.06%	9.94%	6.24%	-12.95%	2.09%	8.59%
Pre Tax Income Margin	2.35%	2.19%	4.91%	-0.91%	9.52%	12.17%	7.53%	-18.50%	2.16%	10.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	22.27	17.87	11.02	-1.80	23.19	26.89	17.49	-38.92	4.11	18.65
NOPAT to Interest Expense	23.51	18.43	9.55	-1.26	18.79	21.97	14.49	-27.25	3.99	15.18
EBIT Less CapEx to Interest Expense	22.27	17.87	11.02	-3.44	23.19	26.89	17.49	-38.92	5.35	19.06
NOPAT Less CapEx to Interest Expense	23.51	18.43	9.55	-2.90	18.79	21.97	14.49	-27.25	5.22	15.59
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	183.12%	187.83%	95.16%	-2,417.56%	41.25%	37.28%	56.56%	-20.57%	73.00%	15.03%
Augmented Payout Ratio	183.12%	187.83%	95.16%	-2,417.56%	41.25%	37.28%	56.56%	-20.57%	73.00%	15.03%

This table displays calculated financial ratios and metrics derived from Mercury General's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.44%	9.79%	37.50%	37.93%	18.22%	19.14%	14.95%	20.37%	43.75%	-0.60%	9.51%
EBITDA Growth	-760.75%	-99.30%	80.65%	82.77%	102.74%	63,907.75%	338.56%	316.60%	10,078.52%	-44.11%	-217.36%
EBIT Growth	-3,712.57%	-149.74%	75.48%	77.44%	88.19%	1,471.99%	243.72%	222.69%	1,984.98%	-48.10%	-259.49%
NOPAT Growth	-3,712.57%	-139.84%	75.48%	77.44%	88.19%	1,676.54%	269.05%	246.03%	2,265.57%	-47.19%	-235.59%
Net Income Growth	-7,732.22%	-122.22%	77.00%	80.28%	91.63%	2,926.67%	262.21%	250.61%	2,906.08%	-47.19%	-247.46%
EPS Growth	-9,000.00%	-121.43%	76.97%	80.26%	91.57%	2,983.33%	262.20%	250.67%	2,880.00%	-47.40%	-247.37%
Operating Cash Flow Growth	-18.80%	-7.94%	-82.95%	-1.28%	35.93%	232.76%	959.96%	218.86%	160.14%	10.20%	-135.68%
Free Cash Flow Firm Growth	305.71%	848.11%	1,670.80%	-55.83%	-107.66%	-101.73%	-159.59%	-316.49%	-561.78%	-2,871.46%	-60.95%
Invested Capital Growth	-23.75%	-23.59%	-16.37%	-9.18%	1.47%	10.49%	14.16%	20.25%	25.07%	18.79%	9.96%
Revenue Q/Q Growth	14.68%	28.04%	-3.98%	-2.18%	-1.71%	29.04%	-7.36%	2.44%	17.38%	-10.77%	2.06%
EBITDA Q/Q Growth	55.64%	100.36%	-11,266.75%	4.39%	107.04%	8,411.67%	-58.38%	-13.19%	231.00%	-53.27%	-187.40%
EBIT Q/Q Growth	52.49%	86.55%	-257.94%	1.40%	75.12%	1,662.45%	-62.50%	-15.83%	282.26%	-56.98%	-215.22%
NOPAT Q/Q Growth	52.49%	86.55%	-257.94%	1.40%	75.12%	1,895.39%	-61.62%	-14.83%	268.97%	-56.22%	-198.56%
Net Income Q/Q Growth	53.34%	93.11%	-568.85%	8.27%	80.20%	2,426.41%	-61.62%	-14.83%	268.97%	-56.22%	-207.18%
EPS Q/Q Growth	53.16%	93.26%	-583.33%	8.54%	80.00%	2,406.67%	-61.56%	-15.04%	269.03%	-56.35%	-207.69%
Operating Cash Flow Q/Q Growth	1.85%	-24.73%	-73.16%	379.83%	40.24%	84.26%	-14.52%	44.34%	14.42%	-21.94%	-127.68%
Free Cash Flow Firm Q/Q Growth	55.81%	14.33%	-43.15%	-56.38%	-127.03%	74.25%	-1,863.28%	-58.47%	17.39%	-15.62%	-6.34%
Invested Capital Q/Q Growth	-5.69%	0.04%	-0.66%	-3.09%	5.37%	8.93%	2.64%	2.07%	9.60%	3.46%	-4.99%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	-12.27%	0.03%	-4.05%	-3.96%	0.28%	18.73%	8.41%	7.13%	20.11%	10.53%	-9.02%
EBIT Margin	-14.39%	-1.51%	-5.64%	-5.68%	-1.44%	17.41%	7.05%	5.79%	18.85%	9.09%	-10.26%
Profit (Net Income) Margin	-10.97%	-0.59%	-4.11%	-3.85%	-0.78%	14.00%	5.80%	4.82%	15.16%	7.44%	-7.81%
Tax Burden Percent	76.26%	39.04%	72.95%	67.87%	54.02%	80.44%	82.34%	83.32%	80.42%	81.84%	76.13%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	19.56%	17.66%	16.68%	19.58%	18.16%	0.00%
Return on Invested Capital (ROIC)	-15.99%	-1.73%	-7.39%	-8.64%	-2.28%	31.91%	13.55%	11.82%	37.71%	17.45%	-17.48%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.16%	-0.34%	-7.84%	-8.33%	-1.77%	31.91%	13.55%	11.82%	37.71%	17.45%	-19.00%
Return on Net Nonoperating Assets (RNNOA)	-3.67%	-0.07%	-1.91%	-2.23%	-0.57%	10.10%	4.52%	3.96%	13.37%	5.73%	-6.37%
Return on Equity (ROE)	-19.66%	-1.80%	-9.31%	-10.88%	-2.86%	42.01%	18.07%	15.79%	51.09%	23.18%	-23.85%
Cash Return on Invested Capital (CROIC)	7.44%	5.56%	1.80%	-0.10%	-7.10%	-5.20%	-2.70%	-2.71%	3.19%	2.98%	3.03%
Operating Return on Assets (OROA)	-7.68%	-0.83%	-3.34%	-3.64%	-0.94%	11.77%	4.81%	4.01%	13.64%	6.42%	-6.95%
Return on Assets (ROA)	-5.85%	-0.32%	-2.44%	-2.47%	-0.51%	9.47%	3.96%	3.34%	10.97%	5.26%	-5.29%
Return on Common Equity (ROCE)	-19.66%	-1.80%	-9.31%	-10.88%	-2.86%	42.01%	18.07%	15.79%	51.09%	23.18%	-23.85%
Return on Equity Simple (ROE_SIMPLE)	-30.74%	0.00%	-24.74%	-13.71%	-7.41%	0.00%	13.41%	19.36%	29.98%	0.00%	15.72%
Net Operating Profit after Tax (NOPAT)	-90	-12	-43	-43	-11	191	73	63	231	101	-100
NOPAT Margin	-10.07%	-1.06%	-3.94%	-3.98%	-1.01%	14.00%	5.80%	4.82%	15.16%	7.44%	-7.18%
Net Nonoperating Expense Percent (NNEP)	2.16%	-1.39%	0.45%	-0.32%	-0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	1.52%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	114.39%	101.51%	105.64%	105.68%	101.44%	82.59%	92.95%	94.21%	81.15%	90.91%	110.26%
Earnings before Interest and Taxes (EBIT)	-129	-17	-62	-61	-15	238	89	75	287	123	-142
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-110	0.40	-45	-43	3.01	256	107	92	306	143	-125
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.96	1.17	1.15	1.16	1.10	1.30	1.77	1.78	1.87	1.89	1.70
Price to Tangible Book Value (P/TBV)	0.99	1.21	1.20	1.20	1.14	1.35	1.83	1.84	1.93	1.94	1.75
Price to Revenue (P/Rev)	0.42	0.49	0.43	0.38	0.34	0.44	0.60	0.59	0.64	0.68	0.56
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	20.97	13.20	9.22	6.25	7.87	10.82
Dividend Yield	8.32%	5.93%	5.22%	4.33%	4.65%	3.48%	2.48%	2.39%	2.02%	1.91%	2.27%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	4.77%	7.57%	10.85%	16.01%	12.71%	9.24%
Enterprise Value to Invested Capital (EV/IC)	0.79	0.98	0.98	0.93	0.84	0.96	1.32	1.31	1.41	1.40	1.00
Enterprise Value to Revenue (EV/Rev)	0.43	0.52	0.47	0.41	0.37	0.44	0.60	0.58	0.63	0.65	0.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	11.90	8.93	6.35	4.53	5.45	5.73
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	20.54	11.50	7.51	5.00	6.15	6.95
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	21.20	13.41	9.11	6.17	7.55	8.34
Enterprise Value to Operating Cash Flow (EV/OCF)	4.23	5.35	7.05	6.52	5.52	4.51	4.60	3.55	3.40	3.41	3.08
Enterprise Value to Free Cash Flow (EV/FCFF)	9.18	15.31	49.30	0.00	0.00	0.00	0.00	0.00	49.27	51.10	34.48
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.26	0.31	0.32	0.42	0.37	0.36	0.35	0.31	0.30	0.32
Long-Term Debt to Equity	0.24	0.26	0.31	0.32	0.42	0.37	0.36	0.35	0.31	0.30	0.32
Financial Leverage	0.20	0.21	0.24	0.27	0.32	0.32	0.33	0.34	0.35	0.33	0.34
Leverage Ratio	3.58	3.63	3.94	4.31	4.58	4.44	4.57	4.73	4.66	4.41	4.80
Compound Leverage Factor	3.58	3.63	3.94	4.31	4.58	4.44	4.57	4.73	4.66	4.41	4.80
Debt to Total Capital	19.44%	20.74%	23.51%	24.26%	29.45%	27.04%	26.35%	25.82%	23.56%	22.78%	23.98%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	19.44%	20.74%	23.51%	24.26%	29.45%	27.04%	26.35%	25.82%	23.56%	22.78%	23.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	80.56%	79.26%	76.49%	75.74%	70.55%	72.96%	73.65%	74.18%	76.44%	77.22%	76.02%
Debt to EBITDA	-0.70	-0.68	-1.12	-2.28	-6.83	3.34	1.78	1.25	0.75	0.89	1.38
Net Debt to EBITDA	-0.07	-0.18	-0.44	-0.46	-1.43	0.13	0.14	-0.08	-0.06	-0.23	-1.71
Long-Term Debt to EBITDA	-0.70	-0.68	-1.12	-2.28	-6.83	3.34	1.78	1.25	0.75	0.89	1.38
Debt to NOPAT	-0.86	-0.85	-1.34	-2.38	-5.26	5.96	2.67	1.80	1.03	1.23	2.01
Net Debt to NOPAT	-0.09	-0.23	-0.53	-0.48	-1.10	0.24	0.20	-0.11	-0.08	-0.31	-2.48
Long-Term Debt to NOPAT	-0.86	-0.85	-1.34	-2.38	-5.26	5.96	2.67	1.80	1.03	1.23	2.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	508	581	330	144	-39	-10	-197	-312	-258	-298	-317
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	118.84	131.66	66.94	25.95	-6.57	-1.29	-25.31	-39.97	-33.37	-39.51	-44.04
Operating Cash Flow to Interest Expense	21.05	15.36	3.69	15.71	20.66	29.00	24.78	35.65	41.22	32.96	-9.56
Operating Cash Flow Less CapEx to Interest Expense	21.05	15.36	3.89	20.91	20.66	29.00	24.78	35.65	42.87	32.96	-9.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.55	0.59	0.64	0.66	0.68	0.68	0.69	0.72	0.71	0.68
Fixed Asset Turnover	18.76	19.99	22.47	24.15	25.92	28.55	30.68	33.94	38.32	37.63	37.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,920	1,920	1,908	1,849	1,948	2,122	2,178	2,223	2,436	2,521	2,395
Invested Capital Turnover	1.59	1.64	1.87	2.17	2.27	2.28	2.34	2.45	2.49	2.35	2.43
Increase / (Decrease) in Invested Capital	-598	-593	-374	-187	28	201	270	374	488	399	217
Enterprise Value (EV)	1,516	1,887	1,862	1,715	1,631	2,043	2,884	2,907	3,445	3,535	2,386
Market Capitalization	1,479	1,778	1,684	1,624	1,512	2,020	2,840	2,942	3,487	3,681	3,096
Book Value per Share	$27.93	$27.49	$26.35	$25.29	$24.82	$27.96	$28.97	$29.78	$33.63	$35.15	$32.87
Tangible Book Value per Share	$26.99	$26.55	$25.42	$24.36	$23.89	$27.04	$28.05	$28.86	$32.72	$34.24	$31.96
Total Capital	1,920	1,920	1,908	1,849	1,948	2,122	2,178	2,223	2,436	2,521	2,395
Total Debt	373	398	448	449	574	574	574	574	574	574	574
Total Long-Term Debt	373	398	448	449	574	574	574	574	574	574	574
Net Debt	37	109	178	91	120	23	44	-35	-42	-146	-711
Capital Expenditures (CapEx)	0.00	0.00	-1.01	-29	0.00	0.00	0.00	-0.00	-13	0.00	0.00
Net Nonoperating Expense (NNE)	8.07	-5.37	1.83	-1.30	-2.43	0.00	0.00	0.00	0.00	0.00	8.72
Net Nonoperating Obligations (NNO)	373	398	448	449	574	574	574	574	574	574	574
Total Depreciation and Amortization (D&A)	19	18	17	19	18	18	17	17	19	20	17
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.78)	($0.12)	($0.82)	($0.75)	($0.15)	$3.46	$1.33	$1.13	$4.17	$1.82	($1.96)
Adjusted Weighted Average Basic Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.39M	55.39M
Adjusted Diluted Earnings per Share	($1.78)	($0.12)	($0.82)	($0.75)	($0.15)	$3.46	$1.33	$1.13	$4.17	$1.82	($1.96)
Adjusted Weighted Average Diluted Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.38M	55.38M	55.39M	55.39M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.37M	110.74M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.37M	55.39M	55.39M
Normalized Net Operating Profit after Tax (NOPAT)	-90	-12	-43	-43	-11	191	73	63	231	101	-100
Normalized NOPAT Margin	-10.07%	-1.06%	-3.94%	-3.98%	-1.01%	14.00%	5.80%	4.82%	15.16%	7.44%	-7.18%
Pre Tax Income Margin	-14.39%	-1.51%	-5.64%	-5.68%	-1.44%	17.41%	7.05%	5.79%	18.85%	9.09%	-10.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-30.17	-3.93	-12.59	-11.03	-2.57	30.62	11.48	9.63	37.20	16.39	-19.79
NOPAT to Interest Expense	-21.12	-2.75	-8.81	-7.72	-1.80	24.63	9.45	8.02	29.92	13.41	-13.86
EBIT Less CapEx to Interest Expense	-30.17	-3.93	-12.38	-5.83	-2.57	30.62	11.48	9.63	38.85	16.39	-19.79
NOPAT Less CapEx to Interest Expense	-21.12	-2.75	-8.61	-2.52	-1.80	24.63	9.45	8.02	31.56	13.41	-13.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-25.88%	-20.57%	-24.35%	-36.64%	-69.06%	73.00%	32.69%	22.03%	12.60%	15.03%	24.58%
Augmented Payout Ratio	-25.88%	-20.57%	-24.35%	-36.64%	-69.06%	73.00%	32.69%	22.03%	12.60%	15.03%	24.58%

Financials Breakdown Chart

Key Financial Trends

Mercury General (NYSE: MCY) has experienced some notable shifts in its financial performance and position over the last several quarters, including Q1 2025. The following points summarize key trends and factors that retail investors should consider:

Premiums Earned have remained robust, with Q1 2025 reporting $1.283 billion, indicating a strong core revenue base from insurance operations.
Net Realized and Unrealized Capital Gains on Investments showed a significant swing to a positive $23.3 million in Q1 2025 vs. large negative amounts in prior quarters, improving income from investments.
Total Non-Interest Income remains a solid $1.394 billion in Q1 2025, supporting overall revenue strength despite challenges in other areas.
Cash and Due from Banks have increased sharply from $530 million in Q1 2024 to approximately $1.28 billion in Q1 2025, improving liquidity.
Trading Account Securities holdings have also increased, suggesting strategic investment growth ($5.18 billion in Q1 2025 vs. $5.29 billion in Q1 2024).
Long-Term Debt has modestly increased to about $574 million, which might reflect strategic borrowing but also implies interest expense obligations.
Weighted Average Shares Outstanding remain stable at around 55.4 million, maintaining consistency in shareholder base and EPS calculations.
Q1 2025 shows a significant net loss of $108.3 million, a steep decline from sequential quarters with net income (e.g., $101 million in Q4 2024).
Total Non-Interest Expenses in Q1 2025 have increased markedly to $1.53 billion, driven in part by high Amortization Expense ($228 million), exceeding revenue for the quarter.
Net Cash from Continuing Operating Activities was negative $68.7 million in Q1 2025, a deterioration from positive cash flows in previous quarters, which may affect operational liquidity.

Trend Analysis: Mercury General demonstrated strong premium revenue growth and improved investment gains earlier but faced profitability challenges in Q1 2025 due to rising expenses and amortization costs. Liquidity strengthened through increased cash balances and investment securities, but operational cash flow turned negative. The increase in amortization and claims may warrant monitoring for margin pressures going forward.

Investor Consideration: While core revenue streams remain healthy, the sharp profit decline and cash flow strains in early 2025 suggest the company is navigating increased cost pressures. The company’s sizable investment portfolio and solid equity base provide a buffer, but investors should watch for how management addresses expense control and returns to consistent profitability in upcoming quarters.

09/18/25 03:11 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Mercury General's Financials

When does Mercury General's financial year end?

According to the most recent income statement we have on file, Mercury General's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Mercury General's net income changed over the last 9 years?

Mercury General's net income appears to be on an upward trend, with a most recent value of $467.95 million in 2024, rising from $74.48 million in 2015. The previous period was $96.34 million in 2023. Find out what analysts predict for Mercury General in the coming months.

How has Mercury General's revenue changed over the last 9 years?

Over the last 9 years, Mercury General's total revenue changed from $3.01 billion in 2015 to $5.44 billion in 2024, a change of 81.1%.

How much debt does Mercury General have?

Mercury General's total liabilities were at $6.36 billion at the end of 2024, a 14.6% increase from 2023, and a 126.7% increase since 2015.

How much cash does Mercury General have?

In the past 9 years, Mercury General's cash and equivalents has ranged from $220.32 million in 2016 to $720.26 million in 2024, and is currently $720.26 million as of their latest financial filing in 2024.

How has Mercury General's book value per share changed over the last 9 years?

Over the last 9 years, Mercury General's book value per share changed from 33.01 in 2015 to 35.15 in 2024, a change of 6.5%.

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This page (NYSE:MCY) was last updated on 9/18/2025 by MarketBeat.com Staff

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Mercury General (MCY) Financials

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Mercury General (MCY) Financials

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