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Mercury General (MCY) Financials

Mercury General logo
$106.55 -2.95 (-2.69%)
As of 03:58 PM Eastern
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Annual Income Statements for Mercury General

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 74 73 145 -5.73 320 375 248 -513 96 468 541
Consolidated Net Income / (Loss)		 74 73 145 -5.73 337 375 248 -513 96 468 541
Net Income / (Loss) Continuing Operations		 74 73 145 -5.73 337 375 248 -513 96 468 541
Total Pre-Tax Income 		71 71 167 -31 378 459 299 -671 99 575 664
Total Revenue		 3,006 3,224 3,401 3,363 3,973 3,767 3,976 3,626 4,605 5,445 5,964
Net Interest Income / (Expense)		 -3.17 -3.96 -15 -17 -17 -17 -17 -17 -24 -31 -29
Total Interest Income		 0.00 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 29
Long-Term Debt Interest Expense		 3.17 3.96 15 17 17 17 17 17 24 31 29
Total Non-Interest Income		 3,009 3,228 3,416 3,380 3,973 3,785 3,993 3,643 4,630 5,476 5,992
Other Service Charges		 8.91 8.29 12 9.28 9.04 8.29 10 10 20 32 27
Net Realized & Unrealized Capital Gains on Investments		 -84 -34 84 -134 223 86 112 -488 101 89 131
Premiums Earned		 2,958 3,132 3,195 3,368 3,599 3,556 3,742 3,952 4,274 5,075 5,506
Other Non-Interest Income		 126 122 125 136 141 135 130 168 235 280 329
Total Non-Interest Expense		 2,936 3,153 3,234 3,394 3,577 3,309 3,677 4,297 4,506 4,870 5,300
Property & Liability Insurance Claims		 2,146 2,355 2,445 2,577 2,706 2,395 2,760 3,362 3,518 3,685 3,963
Other Operating Expenses		 251 235 233 245 269 286 283 280 280 327 394
Amortization Expense		 539 563 555 572 602 628 633 655 709 858 943
Income Tax Expense		 -3.91 -2.32 22 -25 58 84 51 -158 3.09 107 123
Basic Earnings per Share		 $1.35 $1.32 $2.62 ($0.10) $5.78 $6.77 $4.48 ($9.26) $1.74 $8.45 $9.77
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 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 $9.77
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 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 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 $1.27

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 191 73 63 231 101 -108 166 280 203 190 264
Consolidated Net Income / (Loss)		 191 73 63 231 101 -108 166 280 203 190 264
Net Income / (Loss) Continuing Operations		 191 73 63 231 101 -108 166 280 203 190 264
Total Pre-Tax Income 		238 89 75 287 123 -142 207 350 249 236 327
Total Revenue		 1,367 1,266 1,297 1,523 1,359 1,387 1,471 1,578 1,529 1,533 1,674
Net Interest Income / (Expense)		 -7.77 -7.77 -7.80 -7.72 -7.54 -7.19 -7.20 -7.18 -7.06 -6.82 -7.91
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 7.77 7.77 7.80 7.72 7.54 7.19 7.20 7.18 7.06 6.82 7.91
Long-Term Debt Interest Expense		 7.77 7.77 7.80 7.72 7.54 7.19 7.20 7.18 7.06 6.82 7.91
Total Non-Interest Income		 1,375 1,274 1,305 1,530 1,366 1,394 1,478 1,585 1,536 1,540 1,682
Other Service Charges		 4.61 4.20 -2.90 23 7.68 6.01 8.91 6.11 5.76 6.30 7.72
Net Realized & Unrealized Capital Gains on Investments		 162 38 2.90 114 -67 23 23 84 0.12 -4.54 87
Premiums Earned		 1,145 1,167 1,236 1,321 1,352 1,283 1,367 1,410 1,445 1,452 1,498
Other Non-Interest Income		 63 65 69 73 73 81 79 84 84 86 90
Total Non-Interest Expense		 1,129 1,177 1,222 1,236 1,235 1,529 1,264 1,227 1,280 1,297 1,347
Property & Liability Insurance Claims		 867 904 937 918 925 1,221 940 883 919 933 973
Other Operating Expenses		 72 77 82 87 82 79 96 109 110 124 123
Amortization Expense		 190 196 204 230 228 229 228 236 250 241 250
Income Tax Expense		 47 16 13 56 22 -34 40 70 46 45 64
Basic Earnings per Share		 $3.46 $1.33 $1.13 $4.17 $1.82 ($1.96) $3.01 $5.06 $3.66 $3.44 $4.76
Weighted Average Basic Shares Outstanding		 55.37M 55.37M 55.37M 55.37M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M
Diluted Earnings per Share		 $3.46 $1.33 $1.13 $4.17 $1.82 ($1.96) $3.01 $5.06 $3.66 $3.44 $4.76
Weighted Average Diluted Shares Outstanding		 55.37M 55.37M 55.38M 55.38M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M
Weighted Average Basic & Diluted Shares Outstanding		 55.37M 55.37M 55.37M 55.37M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 -26 -44 71 23 -20 54 -13 -46 261 169 595
Net Cash From Operating Activities		 190 292 341 383 520 606 502 353 453 1,037 1,087
Net Cash From Continuing Operating Activities		 190 292 341 383 520 606 502 352 453 1,037 1,087
Net Income / (Loss) Continuing Operations		 74 73 145 -5.73 320 375 248 -513 96 468 541
Consolidated Net Income / (Loss)		 74 73 145 -5.73 320 375 248 -513 96 468 541
Depreciation Expense		 48 53 55 59 65 68 79 82 72 73 75
Non-Cash Adjustments to Reconcile Net Income		 84 34 -87 134 -223 -86 -112 488 -107 -102 -134
Changes in Operating Assets and Liabilities, net		 -16 131 228 197 358 248 286 294 391 598 605
Net Cash From Investing Activities		 -82 -227 -186 -222 -401 -411 -374 -316 -295 -797 -420
Net Cash From Continuing Investing Activities		 -82 -227 -186 -222 -401 -411 -374 -316 -295 -797 -420
Purchase of Investment Securities		 -1,734 -2,000 -1,585 -1,733 -1,707 -2,149 -2,460 -2,873 -2,227 -3,523 -3,828
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - 0.03 0.00 30 13 34
Sale and/or Maturity of Investments		 1,646 1,744 1,444 1,524 1,308 1,737 2,078 2,535 1,938 2,681 3,373
Other Investing Activities, net		 -1.39 30 -45 14 -2.54 0.87 8.33 22 -36 32 0.47
Net Cash From Financing Activities		 -134 -109 -85 -138 -138 -140 -141 -82 104 -71 -72
Net Cash From Continuing Financing Activities		 -134 -109 -85 -138 -138 -140 -141 -82 104 -71 -72
Issuance of Debt		 0.00 30 371 - - 0.00 0.00 25 175 0.00 0.00
Repayment of Debt		 0.00 0.00 -320 0.00 0.00 -0.61 -0.83 -1.50 -1.10 -1.53 -1.37
Payment of Dividends		 -136 -137 -138 -138 -139 -140 -140 -105 -70 -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 0.00
Cash Interest Paid		 2.99 3.53 9.86 17 17 17 17 17 23 30 28
Cash Income Taxes Paid		 31 -0.18 25 -11 -15 53 69 -27 58 95 97

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 97 -21 79 6.94 104 565 -163 130 63 35 350
Net Cash From Operating Activities		 225 193 278 318 248 -69 372 496 288 326 218
Net Cash From Continuing Operating Activities		 225 193 278 312 255 -69 372 496 288 326 218
Net Income / (Loss) Continuing Operations		 191 73 63 231 101 -108 166 280 203 190 264
Consolidated Net Income / (Loss)		 191 73 63 231 101 -108 166 280 203 190 264
Depreciation Expense		 18 17 17 19 20 17 18 19 21 20 21
Non-Cash Adjustments to Reconcile Net Income		 -162 -38 3.32 -141 73 -23 -26 -84 -0.12 4.54 -87
Changes in Operating Assets and Liabilities, net		 178 140 195 203 61 46 214 282 64 111 20
Net Cash From Investing Activities		 -111 -195 -181 -294 -127 652 -516 -349 -207 -272 -219
Net Cash From Continuing Investing Activities		 -111 -195 -181 -294 -127 652 -516 -349 -207 -272 -219
Purchase of Investment Securities		 -639 -830 -751 -952 -899 -806 -1,137 -873 -1,012 -1,222 -1,160
Sale and/or Maturity of Investments		 552 624 560 652 753 1,489 575 524 785 951 955
Other Investing Activities, net		 -24 11 9.82 -6.58 18 -32 33 -21 20 -1.23 20
Net Cash From Financing Activities		 -18 -19 -18 -18 -17 -18 -18 -18 -18 -18 351
Net Cash From Continuing Financing Activities		 -18 -19 -18 -18 -17 -18 -18 -18 -18 -18 351
Repayment of Debt		 -0.25 -0.99 -0.44 0.02 -0.12 -0.75 -0.57 0.01 -0.06 -0.40 -150
Payment of Dividends		 -18 -18 -18 -18 -18 -18 -18 -18 -18 -18 -18
Cash Interest Paid		 3.47 12 3.27 12 3.29 11 2.95 11 2.80 11 2.56
Cash Income Taxes Paid		 -58 3.40 21 19 51 -3.28 0.34 0.06 100 0.01 130

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 2025
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 12/31/2025
Total Assets		 4,629 4,789 5,101 5,434 5,889 6,328 6,772 6,514 7,103 8,311 9,561
Cash and Due from Banks		 264 220 291 314 294 348 336 290 551 720 1,316
Trading Account Securities		 3,195 3,172 3,430 3,515 3,818 4,354 5,002 4,788 5,050 5,793 6,243
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 0.00
Accrued Investment Income		 43 41 39 45 40 43 43 52 59 68 73
Premises and Equipment, Net		 157 156 145 153 169 179 191 171 151 138 147
Unearned Premiums Asset		 437 459 474 555 605 589 616 566 602 691 746
Deferred Acquisition Cost		 202 201 198 215 233 247 258 266 294 335 360
Goodwill		 43 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 6.83
Other Assets		 256 471 460 578 676 514 273 328 345 515 627
Total Liabilities & Shareholders' Equity		 4,629 4,789 5,101 5,434 5,889 6,328 6,772 6,514 7,103 8,311 9,561
Total Liabilities		 2,808 3,036 3,340 3,816 4,090 4,296 4,632 4,992 5,555 6,364 7,143
Other Short-Term Payables		 123 112 108 115 143 194 169 152 175 418 449
Long-Term Debt		 290 320 371 372 372 373 373 398 574 574 575
Claims and Claim Expense		 1,147 1,290 1,511 1,829 1,921 1,991 2,226 2,585 2,786 3,152 3,633
Unearned Premiums Liability		 1,049 1,074 1,102 1,236 1,356 1,406 1,520 1,546 1,736 2,040 2,256
Other Long-Term Liabilities		 199 239 248 264 297 321 344 311 285 180 231
Commitments & Contingencies		 0.00 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 2,417
Total Preferred & Common Equity		 1,821 1,752 1,761 1,618 1,800 2,033 2,140 1,522 1,548 1,947 2,417
Total Common Equity		 1,821 1,752 1,761 1,618 1,800 2,033 2,140 1,522 1,548 1,947 2,417
Common Stock		 100 96 98 98 99 99 99 99 99 100 100
Retained Earnings		 1,721 1,657 1,664 1,520 1,701 1,934 2,041 1,423 1,449 1,847 2,318

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 6,589 6,691 6,922 7,396 7,727 8,153 9,028 9,083 9,373 9,873 10,542
Cash and Due from Banks		 270 358 454 530 609 616 1,285 1,122 1,253 1,351 1,701
Trading Account Securities		 4,828 4,765 4,786 5,291 5,478 5,730 5,188 5,681 5,901 6,383 6,763
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 0.00
Accrued Investment Income		 53 56 58 61 64 65 62 67 69 73 75
Premises and Equipment, Net		 159 160 149 152 134 136 142 146 147 151 151
Unearned Premiums Asset		 563 585 620 677 705 725 746 750 772 819 823
Deferred Acquisition Cost		 266 278 297 308 327 341 336 349 363 367 378
Goodwill		 43 43 43 43 43 43 43 43 43 43 43
Intangible Assets		 8.99 8.77 8.55 8.35 8.13 7.91 7.47 7.25 7.04 6.61 6.40
Other Assets		 398 437 508 326 358 489 1,219 917 819 679 603
Total Liabilities & Shareholders' Equity		 6,589 6,691 6,922 7,396 7,727 8,153 9,028 9,083 9,373 9,873 10,542
Total Liabilities		 5,130 5,291 5,548 5,792 6,078 6,291 7,207 7,114 7,140 7,283 7,706
Other Short-Term Payables		 151 165 167 178 204 232 172 468 422 394 423
Long-Term Debt		 448 449 574 574 574 574 574 574 574 575 944
Claims and Claim Expense		 2,678 2,720 2,724 2,859 2,976 3,074 3,793 3,612 3,596 3,646 3,675
Unearned Premiums Liability		 1,551 1,632 1,749 1,854 1,974 2,077 2,121 2,185 2,274 2,354 2,415
Other Long-Term Liabilities		 301 324 335 327 350 335 547 274 274 314 250
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,459 1,400 1,374 1,604 1,649 1,862 1,821 1,969 2,232 2,590 2,836
Total Preferred & Common Equity		 1,459 1,400 1,374 1,604 1,649 1,862 1,821 1,969 2,232 2,590 2,836
Total Common Equity		 1,459 1,400 1,374 1,604 1,649 1,862 1,821 1,969 2,232 2,590 2,836
Common Stock		 99 99 99 99 99 99 100 100 100 100 100
Retained Earnings		 1,360 1,301 1,275 1,505 1,550 1,763 1,721 1,870 2,133 2,490 2,736

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
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 $9.77
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 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 $9.77
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 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 $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 55.39M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Mercury General

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 55,388,627.00 55,388,627.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 55,388,627.00 55,388,627.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 3.44 4.76
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.14% 14.95% 20.37% 43.75% -0.60% 9.51% 13.37% 3.62% - 10.55% 13.81%
EBITDA Growth		 63,907.75% 338.56% 316.60% 10,078.52% -44.11% -217.36% 142.65% 20.55% - 304.31% 54.98%
EBIT Growth		 1,471.99% 243.72% 222.69% 1,984.98% -48.10% -259.49% 175.31% 22.03% - 265.61% 58.32%
NOPAT Growth		 1,676.54% 269.05% 246.03% 2,265.57% -47.19% -235.59% 166.07% 21.46% - 291.17% 58.29%
Net Income Growth		 2,926.67% 262.21% 250.61% 2,906.08% -47.19% -247.46% 166.07% 21.46% - 275.78% 58.29%
EPS Growth		 2,983.33% 262.20% 250.67% 2,880.00% -47.40% -247.37% 166.37% 21.34% - 275.51% 58.14%
Operating Cash Flow Growth		 232.76% 959.96% 218.86% 160.14% 10.20% -135.68% 33.65% 56.05% - 573.75% -41.42%
Free Cash Flow Firm Growth		 -101.73% -159.59% -316.49% -561.78% -2,871.46% -60.95% 50.46% 65.04% - -83.04% -529.79%
Invested Capital Growth		 10.49% 14.16% 20.25% 25.07% 18.79% 9.96% 14.44% 15.20% - 32.15% 48.59%
Revenue Q/Q Growth		 29.04% -7.36% 2.44% 17.38% -10.77% 2.06% 6.06% 7.28% - 0.28% 9.19%
EBITDA Q/Q Growth		 8,411.67% -58.38% -13.19% 231.00% -53.27% -187.40% 279.49% 64.44% - -5.42% 36.15%
EBIT Q/Q Growth		 1,662.45% -62.50% -15.83% 282.26% -56.98% -215.22% 245.29% 69.44% - -5.31% 38.90%
NOPAT Q/Q Growth		 1,895.39% -61.62% -14.83% 268.97% -56.22% -198.56% 267.13% 68.44% - -5.99% 38.38%
Net Income Q/Q Growth		 2,426.41% -61.62% -14.83% 268.97% -56.22% -207.18% 253.68% 68.44% - -5.99% 38.38%
EPS Q/Q Growth		 2,406.67% -61.56% -15.04% 269.03% -56.35% -207.69% 253.57% 68.11% - -6.01% 38.37%
Operating Cash Flow Q/Q Growth		 84.26% -14.52% 44.34% 14.42% -21.94% -127.68% 640.68% 33.59% - 13.11% -33.14%
Free Cash Flow Firm Q/Q Growth		 74.25% -1,863.28% -58.47% 17.39% -15.62% -6.34% 51.23% 41.70% - -115.74% -67.82%
Invested Capital Q/Q Growth		 8.93% 2.64% 2.07% 9.60% 3.46% -4.99% 6.22% 10.34% - 5.78% 19.43%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 18.73% 8.41% 7.13% 20.11% 10.53% -9.02% 15.26% 23.39% - 16.67% 20.78%
EBIT Margin		 17.41% 7.05% 5.79% 18.85% 9.09% -10.26% 14.06% 22.20% - 15.37% 19.56%
Profit (Net Income) Margin		 14.00% 5.80% 4.82% 15.16% 7.44% -7.81% 11.32% 17.77% - 12.42% 15.74%
Tax Burden Percent		 80.44% 82.34% 83.32% 80.42% 81.84% 76.13% 80.52% 80.04% - 80.81% 80.50%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Effective Tax Rate		 19.56% 17.66% 16.68% 19.58% 18.16% 0.00% 19.48% 19.96% - 19.19% 19.50%
Return on Invested Capital (ROIC)		 31.91% 13.55% 11.82% 37.71% 17.45% -17.48% 27.25% 39.28% - 27.30% 31.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 31.91% 13.55% 11.82% 37.71% 17.45% -19.00% 27.25% 39.28% - 27.30% 31.43%
Return on Net Nonoperating Assets (RNNOA)		 10.10% 4.52% 3.96% 13.37% 5.73% -6.37% 8.65% 11.02% - 7.11% 9.93%
Return on Equity (ROE)		 42.01% 18.07% 15.79% 51.09% 23.18% -23.85% 35.90% 50.30% - 34.41% 41.36%
Cash Return on Invested Capital (CROIC)		 -5.20% -2.70% -2.71% 3.19% 2.98% 3.03% 2.90% 2.64% - 2.52% -9.46%
Operating Return on Assets (OROA)		 11.77% 4.81% 4.01% 13.64% 6.42% -6.95% 9.60% 14.68% - 9.94% 12.58%
Return on Assets (ROA)		 9.47% 3.96% 3.34% 10.97% 5.26% -5.29% 7.73% 11.75% - 8.03% 10.13%
Return on Common Equity (ROCE)		 42.01% 18.07% 15.79% 51.09% 23.18% -23.85% 35.90% 50.30% - 34.41% 41.36%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.41% 19.36% 29.98% 0.00% 15.72% 19.81% 19.69% - 32.43% 33.03%
Net Operating Profit after Tax (NOPAT)		 191 73 63 231 101 -100 166 280 - 190 264
NOPAT Margin		 14.00% 5.80% 4.82% 15.16% 7.44% -7.18% 11.32% 17.77% - 12.42% 15.74%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 1.52% 0.00% 0.00% - 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		 82.59% 92.95% 94.21% 81.15% 90.91% 110.26% 85.94% 77.80% - 84.63% 80.44%
Earnings before Interest and Taxes (EBIT)		 238 89 75 287 123 -142 207 350 - 236 327
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 256 107 92 306 143 -125 224 369 - 255 348
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.30 1.77 1.78 1.87 1.89 1.70 1.89 2.10 - 1.89 2.08
Price to Tangible Book Value (P/TBV)		 1.35 1.83 1.84 1.93 1.94 1.75 1.94 2.15 - 1.92 2.12
Price to Revenue (P/Rev)		 0.44 0.60 0.59 0.64 0.68 0.56 0.65 0.81 - 0.80 0.94
Price to Earnings (P/E)		 20.97 13.20 9.22 6.25 7.87 10.82 9.56 10.68 - 5.81 6.30
Dividend Yield		 3.48% 2.48% 2.39% 2.02% 1.91% 2.27% 1.89% 1.50% - 1.44% 1.19%
Earnings Yield		 4.77% 7.57% 10.85% 16.01% 12.71% 9.24% 10.46% 9.36% - 17.20% 15.86%
Enterprise Value to Invested Capital (EV/IC)		 0.96 1.32 1.31 1.41 1.40 1.00 1.25 1.43 - 1.30 1.36
Enterprise Value to Revenue (EV/Rev)		 0.44 0.60 0.58 0.63 0.65 0.43 0.55 0.69 - 0.67 0.82
Enterprise Value to EBITDA (EV/EBITDA)		 11.90 8.93 6.35 4.53 5.45 5.73 5.80 6.57 - 3.67 4.14
Enterprise Value to EBIT (EV/EBIT)		 20.54 11.50 7.51 5.00 6.15 6.95 6.70 7.46 - 3.94 4.43
Enterprise Value to NOPAT (EV/NOPAT)		 21.20 13.41 9.11 6.17 7.55 8.34 8.16 9.14 - 4.89 5.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.51 4.60 3.55 3.40 3.41 3.08 3.66 3.84 - 2.77 3.88
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 49.27 51.10 34.48 45.99 58.07 - 58.71 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.37 0.36 0.35 0.31 0.30 0.32 0.29 0.26 - 0.22 0.33
Long-Term Debt to Equity		 0.37 0.36 0.35 0.31 0.30 0.32 0.29 0.26 - 0.22 0.33
Financial Leverage		 0.32 0.33 0.34 0.35 0.33 0.34 0.32 0.28 - 0.26 0.32
Leverage Ratio		 4.44 4.57 4.73 4.66 4.41 4.80 4.65 4.28 - 4.29 4.08
Compound Leverage Factor		 4.44 4.57 4.73 4.66 4.41 4.80 4.65 4.28 - 4.29 4.08
Debt to Total Capital		 27.04% 26.35% 25.82% 23.56% 22.78% 23.98% 22.58% 20.47% - 18.16% 24.97%
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		 27.04% 26.35% 25.82% 23.56% 22.78% 23.98% 22.58% 20.47% - 18.16% 24.97%
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		 72.96% 73.65% 74.18% 76.44% 77.22% 76.02% 77.42% 79.53% - 81.84% 75.03%
Debt to EBITDA		 3.34 1.78 1.25 0.75 0.89 1.38 1.05 0.94 - 0.51 0.76
Net Debt to EBITDA		 0.13 0.14 -0.08 -0.06 -0.23 -1.71 -1.00 -1.11 - -0.69 -0.61
Long-Term Debt to EBITDA		 3.34 1.78 1.25 0.75 0.89 1.38 1.05 0.94 - 0.51 0.76
Debt to NOPAT		 5.96 2.67 1.80 1.03 1.23 2.01 1.47 1.31 - 0.68 1.01
Net Debt to NOPAT		 0.24 0.20 -0.11 -0.08 -0.31 -2.48 -1.40 -1.54 - -0.92 -0.81
Long-Term Debt to NOPAT		 5.96 2.67 1.80 1.03 1.23 2.01 1.47 1.31 - 0.68 1.01
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -10 -197 -312 -258 -298 -317 -154 -90 - -579 -972
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%
Free Cash Flow to Firm to Interest Expense		 -1.29 -25.31 -39.97 -33.37 -39.51 -44.04 -21.46 -12.54 - -85.00 -122.96
Operating Cash Flow to Interest Expense		 29.00 24.78 35.65 41.22 32.96 -9.56 51.65 69.13 - 47.76 27.53
Operating Cash Flow Less CapEx to Interest Expense		 29.00 24.78 35.65 42.87 32.96 -9.56 51.65 72.12 - 47.76 27.53
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.68 0.68 0.69 0.72 0.71 0.68 0.68 0.66 - 0.65 0.64
Fixed Asset Turnover		 28.55 30.68 33.94 38.32 37.63 37.84 41.04 40.99 - 41.78 42.54
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,122 2,178 2,223 2,436 2,521 2,395 2,544 2,807 - 3,165 3,780
Invested Capital Turnover		 2.28 2.34 2.45 2.49 2.35 2.43 2.41 2.21 - 2.20 2.00
Increase / (Decrease) in Invested Capital		 201 270 374 488 399 217 321 370 - 770 1,236
Enterprise Value (EV)		 2,043 2,884 2,907 3,445 3,535 2,386 3,182 4,018 - 4,106 5,148
Market Capitalization		 2,020 2,840 2,942 3,487 3,681 3,096 3,730 4,696 - 4,883 5,906
Book Value per Share		 $27.96 $28.97 $29.78 $33.63 $35.15 $32.87 $35.56 $40.30 - $46.76 $51.20
Tangible Book Value per Share		 $27.04 $28.05 $28.86 $32.72 $34.24 $31.96 $34.65 $39.40 - $45.87 $50.31
Total Capital		 2,122 2,178 2,223 2,436 2,521 2,395 2,544 2,807 - 3,165 3,780
Total Debt		 574 574 574 574 574 574 574 574 - 575 944
Total Long-Term Debt		 574 574 574 574 574 574 574 574 - 575 944
Net Debt		 23 44 -35 -42 -146 -711 -548 -678 - -776 -757
Capital Expenditures (CapEx)		 0.00 0.00 -0.00 -13 0.00 0.00 0.00 -21 - 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 8.72 0.00 0.00 - 0.00 0.00
Net Nonoperating Obligations (NNO)		 574 574 574 574 574 574 574 574 - 575 944
Total Depreciation and Amortization (D&A)		 18 17 17 19 20 17 18 19 - 20 21
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.46 $1.33 $1.13 $4.17 $1.82 ($1.96) $3.01 $5.06 $3.66 $3.44 $4.76
Adjusted Weighted Average Basic Shares Outstanding		 55.37M 55.37M 55.37M 55.37M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M
Adjusted Diluted Earnings per Share		 $3.46 $1.33 $1.13 $4.17 $1.82 ($1.96) $3.01 $5.06 $3.66 $3.44 $4.76
Adjusted Weighted Average Diluted Shares Outstanding		 55.37M 55.37M 55.38M 55.38M 55.39M 55.39M 55.39M 55.39M 55.39M 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 55.37M 55.37M 55.37M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M 55.39M
Normalized Net Operating Profit after Tax (NOPAT)		 191 73 63 231 101 -100 166 280 - 190 264
Normalized NOPAT Margin		 14.00% 5.80% 4.82% 15.16% 7.44% -7.18% 11.32% 17.77% - 12.42% 15.74%
Pre Tax Income Margin		 17.41% 7.05% 5.79% 18.85% 9.09% -10.26% 14.06% 22.20% - 15.37% 19.56%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 30.62 11.48 9.63 37.20 16.39 -19.79 28.74 48.78 - 34.57 41.39
NOPAT to Interest Expense		 24.63 9.45 8.02 29.92 13.41 -13.86 23.14 39.05 - 27.93 33.32
EBIT Less CapEx to Interest Expense		 30.62 11.48 9.63 38.85 16.39 -19.79 28.74 51.77 - 34.57 41.39
NOPAT Less CapEx to Interest Expense		 24.63 9.45 8.02 31.56 13.41 -13.86 23.14 42.03 - 27.93 33.32
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 73.00% 32.69% 22.03% 12.60% 15.03% 24.58% 18.03% 16.00% - 8.38% 7.51%
Augmented Payout Ratio		 73.00% 32.69% 22.03% 12.60% 15.03% 24.58% 18.03% 16.00% - 8.38% 7.51%

Financials Breakdown Chart

Key Financial Trends

Mercury General (NYSE: MCY) has shown a sharp recovery over the last year, but the trend is mixed when viewed against the prior few years. The company moved from losses in 2023 and early 2024 to much stronger profitability through 2025 and early 2026. At the same time, the balance sheet has expanded, claims liabilities remain large, and quarterly results still depend heavily on investment income and market gains.

  • Profitability improved dramatically in 2025 and early 2026. Net income rose from a loss of $108.3 million in Q1 2025 to profit of $190.4 million in Q1 2026, while EPS improved from -$1.96 to $3.44.
  • Underwriting results also improved versus the weak 2023 period. After a deeply negative Q1 2025 pre-tax loss of $142.3 million, Mercury General posted $235.7 million in pre-tax income in Q1 2026.
  • Operating cash flow strengthened. Cash from operating activities reached $325.6 million in Q1 2026, up from $287.9 million in Q4 2025 and well above the weak Q1 2025 level of negative $68.7 million.
  • Premiums earned are growing again. Q1 2026 premiums earned were $1.45 billion, above $1.45 billion in Q4 2025 and significantly higher than the Q1 2024 level of $1.17 billion.
  • Equity has increased meaningfully. Total common equity rose to $2.59 billion in Q1 2026 from $1.82 billion in Q1 2025, reflecting the rebound in retained earnings.
  • Cash and investments remain sizable. Mercury General ended Q1 2026 with $1.35 billion in cash and $6.38 billion in trading securities, giving it a large investment base.
  • Debt appears manageable relative to assets. Long-term debt was $574.6 million in Q1 2026, which is modest compared with nearly $9.9 billion in total assets.
  • Claims expense remains the key swing factor. Property and liability claims were $933.0 million in Q1 2026, still a very large expense item that can quickly pressure margins if severity rises.
  • The company is still highly exposed to market and investment volatility. Investment gains/losses have swung sharply over time, including a negative $4.5 million in Q1 2026 after a much stronger positive contribution in prior periods.
  • Liabilities remain heavy. Total liabilities were $7.28 billion in Q1 2026, including $3.65 billion of claims and claim expense reserves and $2.35 billion of unearned premiums liability.

Bottom line: Mercury General looks far healthier than it did in early 2025, with stronger earnings, better operating cash flow, and rising equity. But investors should keep an eye on claims trends and investment performance, because those two areas still play an outsized role in quarterly results.

08/10/26 05:42 PM ETAI Generated. May Contain Errors.

Mercury General Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mercury General's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Mercury General's net income appears to be on an upward trend, with a most recent value of $541.09 million in 2025, rising from $74.48 million in 2015. The previous period was $467.95 million in 2024. See Mercury General's forecast for analyst expectations on what's next for the company.

Over the last 10 years, Mercury General's total revenue changed from $3.01 billion in 2015 to $5.96 billion in 2025, a change of 98.4%.

Mercury General's total liabilities were at $7.14 billion at the end of 2025, a 12.2% increase from 2024, and a 154.4% increase since 2015.

In the past 10 years, Mercury General's cash and equivalents has ranged from $220.32 million in 2016 to $1.32 billion in 2025, and is currently $1.32 billion as of their latest financial filing in 2025.


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Financial statements for NYSE:MCY last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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