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.
Quarterly Income Statements for Mercury General
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 |
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 |
Annual Cash Flow Statements for Mercury General
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 |
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 |
Quarterly Cash Flow Statements for Mercury General
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 |
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 |
Annual Balance Sheets for Mercury General
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 |
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 |
Quarterly Balance Sheets for Mercury General
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 |
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 |
Annual Metrics And Ratios for Mercury General
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 |
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% |
Quarterly Metrics And Ratios for Mercury General
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 |
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% |
Key Financial Trends
Mercury General (NYSE: MCY) has demonstrated significant fluctuations in financial performance over the past four years, with recent quarterly results in Q1 2025 showing some challenges compared to prior quarters.
Income Statement Highlights:
- Q1 2025 reported a net loss of $108.3 million, equivalent to a basic and diluted loss per share of $1.96, a sharp decline from Q4 2024 net income of $101.1 million (EPS of $1.82).
- Premiums Earned have consistently increased each quarter, reaching $1.283 billion in Q1 2025, up from $1.135 billion in Q4 2023, signaling growth in underwriting activity.
- Net Realized & Unrealized Capital Gains swung from a $66.9 million loss in Q4 2024 to a $23.3 million gain in Q1 2025, but volatility in investment income impacts overall profitability.
- Total Non-Interest Expense rose to $1.529 billion in Q1 2025 from $1.235 billion in Q4 2024, largely driven by increased insurance claims ($1.22 billion) and higher amortization expenses ($228.7 million), pressuring earnings.
- Interest expense related to long-term debt has remained relatively stable around $7.2-$7.7 million quarterly.
Cash Flow Highlights:
- Q1 2025 had negative net cash from operating activities of $68.7 million, a severe reversal from positive cash flow of $254.7 million in Q4 2024, reflecting the challenging earnings quarter.
- Investing activities in Q1 2025 saw a positive cash flow of $651.6 million due to sales/maturities of investments exceeding purchases, providing liquidity.
- Financing activities consumed $18.3 million in cash in Q1 2025, mainly due to dividend payments and debt repayments.
- Net change in cash and equivalents was an increase of $564.5 million in Q1 2025, significantly strengthening the company's liquidity position.
Balance Sheet Highlights:
- Total assets increased from $6.59 billion in Q1 2023 to $9.03 billion in Q1 2025, indicating asset growth primarily from increased cash and securities holdings.
- Long-term debt has increased over the period but remains manageable at $574 million as of Q1 2025.
- Common equity grew steadily from approximately $1.46 billion in Q1 2023 to $1.82 billion by Q1 2025, reflecting retained earnings and capitalization.
- Claims and claim expenses rose sharply to $3.79 billion from $2.68 billion in Q1 2023, contributing to earnings pressure.
Trend Analysis:
- Mercury General has grown its premium base and balance sheet size steadily over the past four years.
- Profitability has oscillated with quarters of losses and gains; the recent Q1 2025 loss is a notable setback after a strong Q4 2024.
- Investment income and capital gains have been volatile, affecting net income quarter to quarter.
- Rising claims and amortization expense suggest increasing cost pressures, which may continue to challenge margin expansion.
- Cash flows show variability linked to underwriting results and investment portfolio activity, highlighting the cyclical nature of the insurance business.
Summary: Mercury General continues to expand its insurance premium volume and asset base, underpinning growth potential. However, Q1 2025 results highlight significant volatility with a return to net losses linked to higher claims and non-interest expenses, offset partially by investment gains. Investors should monitor how management addresses underwriting performance and expense control to stabilize earnings going forward.
08/08/25 09:19 PMAI Generated. May Contain Errors.