NASDAQ : ACGL
Arch Capital Group Ltd. — Financial statements
Financials · Insurance - Diversified · Bermuda
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 16.24B | 17.07B | 15.10B | 12.44B | 9.68B | 8.08B |
| Total Interest & Dividend Income | 1.71B | 1.62B | 1.50B | 1.02B | 496.00M | 389.00M |
| Gain (Loss) on Sale of Investments | -181.00M | 464.00M | 197.00M | -165.00M | -663.00M | 380.00M |
| Other Revenue | 1.01B | 775.00M | 648.00M | 336.00M | 101.00M | 397.00M |
| Total Revenue | 18.78B | 19.93B | 17.44B | 13.63B | 9.61B | 9.25B |
| Policy Benefits | 8.77B | 9.37B | 8.34B | 6.25B | 5.03B | 4.58B |
| Policy Acquisition & Underwriting Costs | 2.94B | 3.15B | 2.65B | 2.31B | 1.74B | 1.30B |
| Amortization of Goodwill & Intangibles | 137.00M | 193.00M | 235.00M | 95.00M | 106.00M | 82.00M |
| Selling, General & Administrative | -2.00M | 57.00M | 119.00M | 96.00M | 95.00M | 78.00M |
| Other Operating Expenses | 1.84B | 1.83B | 1.47B | 1.30B | 1.13B | 999.00M |
| Total Operating Expenses | 13.69B | 14.60B | 12.82B | 10.05B | 8.10B | 7.05B |
| Operating Income | 5.09B | 5.33B | 4.62B | 3.58B | 1.52B | 2.20B |
| Interest Expense | -181.00M | -148.00M | -141.00M | -133.00M | -131.00M | -139.00M |
| Earnings From Equity Investments | 176.00M | 180.00M | 200.00M | 184.00M | 75.00M | 264.00M |
| Currency Exchange Gain (Loss) | 43.00M | -128.00M | 75.00M | -60.00M | 102.00M | 41.00M |
| Other Non Operating Income (Expenses) | 1.00M | |||||
| EBT Excluding Unusual Items | 5.13B | 5.23B | 4.75B | 3.58B | 1.56B | 2.37B |
| Merger & Restructuring Charges | -93.00M | -75.00M | -81.00M | -6.00M | ||
| Pretax Income | 5.03B | 5.16B | 4.67B | 3.57B | 1.56B | 2.37B |
| Income Tax Expense | 656.00M | 760.00M | 362.00M | -873.00M | 80.00M | 128.00M |
| Earnings From Continuing Ops. | 4.38B | 4.40B | 4.31B | 4.44B | 1.48B | 2.24B |
| Minority Interest in Earnings | -6.00M | -82.00M | ||||
| Net Income | 4.38B | 4.40B | 4.31B | 4.44B | 1.48B | 2.16B |
| Preferred Dividends & Other Adjustments | 40.00M | 40.00M | 40.00M | 40.00M | 40.00M | 63.00M |
| Net Income to Common | 4.34B | 4.36B | 4.27B | 4.40B | 1.44B | 2.09B |
| Shares Outstanding (Basic) | 347.85M | 368.40M | 372.50M | 368.70M | 368.60M | 391.70M |
| Shares Outstanding (Diluted) | 353.85M | 375.90M | 381.80M | 378.80M | 377.60M | 400.30M |
| EPS (Basic) | 12.47 | 11.83 | 11.47 | 11.94 | 3.90 | 5.35 |
| EPS (Diluted) | 12.26 | 11.60 | 11.19 | 11.62 | 3.80 | 5.23 |
| Free Cash Flow | 5.63B | 6.13B | 6.62B | 5.70B | 3.77B | 3.38B |
| Free Cash Flow Per Share | 15.91 | 16.30 | 17.34 | 15.04 | 9.97 | 8.45 |
| Operating Margin | 27.10% | 26.75% | 26.50% | 26.29% | 15.77% | 23.80% |
| Profit Margin | 23.10% | 21.87% | 24.50% | 32.29% | 14.94% | 22.64% |
| Free Cash Flow Margin | 29.98% | 30.75% | 37.97% | 41.78% | 39.18% | 36.59% |
| EBITDA | 5.22B | 5.52B | 4.86B | 3.68B | 1.62B | 2.28B |
| EBITDA Margin | 27.82% | 27.71% | 27.84% | 26.98% | 16.87% | 24.69% |
| D&A For EBITDA | 137.00M | 193.00M | 235.00M | 95.00M | 106.00M | 82.00M |
| EBIT | 5.09B | 5.33B | 4.62B | 3.58B | 1.52B | 2.20B |
| EBIT Margin | 27.10% | 26.75% | 26.50% | 26.29% | 15.77% | 23.80% |
| Effective Tax Rate | 13.03% | 14.73% | 7.75% | 5.12% | 5.41% | |
| Revenue as Reported | 18.78B | 19.93B | 17.44B | 13.63B | 9.61B | 9.25B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 33.28B | 34.76B | 28.94B | 24.99B | 20.51B | 18.59B |
| Investments in Equity & Preferred Securities | 10.86B | 9.88B | 9.13B | 7.06B | 5.74B | 6.14B |
| Other Investments | 5.45B | 2.78B | 2.97B | 2.23B | 1.44B | 2.00B |
| Total Investments | 49.60B | 47.45B | 41.06B | 34.28B | 27.69B | 26.78B |
| Cash & Equivalents | 1.15B | 993.00M | 979.00M | 917.00M | 855.00M | 858.67M |
| Reinsurance Recoverable | 10.25B | 9.53B | 8.26B | 7.06B | 6.56B | 5.88B |
| Other Receivables | 9.73B | 8.90B | 8.88B | 7.46B | 6.10B | 5.63B |
| Deferred Policy Acquisition Cost | 1.77B | 1.72B | 1.73B | 1.53B | 1.26B | 901.84M |
| Property, Plant & Equipment | 120.00M | 129.00M | 125.00M | 123.00M | 106.84M | |
| Goodwill | 607.00M | 571.00M | 345.00M | 342.00M | 344.87M | |
| Other Intangible Assets | 1.13B | 615.00M | 780.00M | 386.00M | 462.00M | 600.12M |
| Restricted Cash | 1.07B | 781.00M | 581.00M | 418.00M | 456.10M | |
| Other Current Assets | 3.56B | 2.84B | 2.63B | 2.37B | 1.95B | 1.85B |
| Other Long-Term Assets | 6.88B | 5.40B | 5.10B | 3.86B | 2.23B | 1.69B |
| Total Assets | 84.08B | 79.24B | 70.91B | 58.91B | 47.99B | 45.10B |
| Insurance & Annuity Liabilities | 2.36B | 2.28B | 2.17B | 1.82B | 1.73B | 1.83B |
| Unpaid Claims | 35.51B | 33.55B | 29.37B | 22.75B | 20.03B | 17.76B |
| Unearned Premiums | 11.21B | 10.10B | 10.22B | 8.81B | 7.34B | 6.01B |
| Reinsurance Payable | 3.04B | 2.32B | 2.14B | 2.00B | 1.53B | 1.58B |
| Current Portion of Long-Term Debt | 500.00M | 499.00M | ||||
| Current Portion of Leases | 33.00M | |||||
| Current Income Taxes Payable | 75.00M | |||||
| Long-Term Debt | 3.79B | 2.23B | 2.73B | 2.73B | 2.73B | 2.72B |
| Long-Term Leases | 123.00M | 163.00M | 156.00M | 152.00M | 126.71M | |
| Other Current Liabilities | 72.00M | 115.00M | 119.00M | 76.00M | 54.22M | |
| Other Long-Term Liabilities | 4.68B | 3.76B | 3.19B | 2.17B | 1.48B | 1.46B |
| Total Liabilities | 61.08B | 55.03B | 50.09B | 40.55B | 35.07B | 31.55B |
| Preferred Stock, Redeemable | 830.00M | 830.00M | 830.00M | 830.00M | 830.00M | 830.00M |
| Total Preferred Equity | 830.00M | 830.00M | 830.00M | 830.00M | 830.00M | 830.00M |
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 648.00K |
| Additional Paid-In Capital | 2.91B | 2.73B | 2.51B | 2.33B | 2.21B | 2.09B |
| Retained Earnings | 30.15B | 27.05B | 22.69B | 20.30B | 15.89B | 14.46B |
| Treasury Stock | -9.82B | -6.41B | -4.49B | -4.42B | -4.38B | -3.76B |
| Comprehensive Income & Other | -1.08B | 5.00M | -720.00M | -676.00M | -1.65B | -64.60M |
| Total Common Equity | 22.16B | 23.38B | 19.99B | 17.52B | 12.08B | 12.72B |
| Minority Interest | 2.00M | 11.00M | 9.23M | |||
| Shareholders' Equity | 22.99B | 24.21B | 20.82B | 18.36B | 12.92B | 13.56B |
| Total Liabilities & Equity | 84.08B | 79.24B | 70.91B | 58.91B | 47.99B | 45.10B |
| Filing Date Shares Outstanding | 324.99M | 354.39M | 373.83M | 372.63M | 369.03M | 376.97M |
| Total Common Shares Outstanding | 324.99M | 357.59M | 374.87M | 371.88M | 368.18M | 376.85M |
| Total Debt | 4.29B | 2.88B | 2.89B | 2.88B | 2.88B | 2.85B |
| Net Cash (Debt) | -3.13B | -1.89B | -1.91B | -1.97B | -2.02B | -1.99B |
| Net Cash Per Share | -8.86 | -5.03 | -5.01 | -5.19 | -5.35 | -4.98 |
| Book Value Per Share | 68.19 | 65.37 | 53.32 | 47.12 | 32.81 | 33.74 |
| Tangible Book Value | 21.03B | 22.15B | 18.64B | 16.79B | 11.28B | 11.77B |
| Tangible Book Value Per Share | 64.71 | 61.95 | 49.72 | 45.15 | 30.63 | 31.23 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.38B | 4.40B | 4.31B | 4.44B | 1.48B | 2.16B |
| Depreciation & Amortization | 137.00M | 193.00M | 235.00M | 95.00M | 106.00M | 82.00M |
| Gain (Loss) on Sale of Investments | 65.00M | -440.00M | -185.00M | 182.00M | 651.00M | -427.00M |
| Stock-Based Compensation | 141.00M | 148.00M | 133.00M | 93.00M | 88.00M | 88.00M |
| Change in Accounts Receivable | -485.00M | 38.00M | -818.00M | -981.00M | -1.11B | -685.00M |
| Change in Unearned Revenue | -349.00M | -589.00M | 632.00M | 1.03B | 1.40B | 935.00M |
| Change in Deferred Taxes | 202.00M | 174.00M | -35.00M | -1.16B | -121.00M | -167.00M |
| Change in Insurance Reserves / Liabilities | 1.81B | 2.35B | 3.28B | 2.14B | 1.89B | 1.76B |
| Change in Other Net Operating Assets | -21.00M | 135.00M | -359.00M | -92.00M | -313.00M | -174.00M |
| Other Operating Activities | -1.00M | 6.00M | 82.00M | |||
| Operating Cash Flow | 5.67B | 6.17B | 6.67B | 5.75B | 3.82B | 3.42B |
| Capital Expenditures | -44.00M | -44.00M | -51.00M | -52.00M | -50.00M | -41.00M |
| Cash Acquisitions | 852.00M | |||||
| Investment in Securities | -2.89B | -4.41B | -5.23B | -5.44B | -3.11B | -1.19B |
| Other Investing Activities | -10.00M | 416.00M | -35.00M | 27.00M | 56.00M | -563.00M |
| Investing Cash Flow | -2.94B | -4.04B | -4.46B | -5.47B | -3.10B | -2.14B |
| Total Debt Repaid | -398.00M | |||||
| Net Debt Issued (Repaid) | 1.57B | |||||
| Issuance of Common Stock | 51.00M | 50.00M | 7.00M | 6.00M | 6.00M | |
| Repurchases of Common Stock | -4.18B | -1.89B | -24.00M | -586.00M | -1.23B | |
| Issuance of Preferred Stock | 500.00M | |||||
| Repurchases of Preferred Stock | -450.00M | |||||
| Common Dividends Paid | -5.00M | -7.00M | -1.87B | |||
| Preferred Dividends Paid | -40.00M | -40.00M | -40.00M | -40.00M | -40.00M | -47.00M |
| Total Dividends Paid | -45.00M | -47.00M | -1.91B | -40.00M | -40.00M | -47.00M |
| Other Financing Activities | -19.00M | -4.00M | -2.00M | -29.00M | -86.00M | -4.00M |
| Financing Cash Flow | -2.62B | -1.89B | -1.93B | -69.00M | -706.00M | -1.23B |
| Foreign Exchange Rate Adjustments | 12.00M | 61.00M | -25.00M | 13.00M | -50.00M | -34.00M |
| Net Cash Flow | 123.00M | 307.00M | 262.00M | 225.00M | -41.00M | 24.00M |
| Free Cash Flow | 5.63B | 6.13B | 6.62B | 5.70B | 3.77B | 3.38B |
| Free Cash Flow Margin | 29.98% | 30.75% | 37.97% | 41.78% | 39.18% | 36.59% |
| Free Cash Flow Per Share | 15.91 | 16.30 | 17.34 | 15.04 | 9.97 | 8.45 |
| Levered Free Cash Flow | 4.82B | -17.00B | 7.46B | 3.97B | 3.38B | 3.56B |
| Unlevered Free Cash Flow | 4.93B | -16.91B | 7.55B | 4.05B | 3.46B | 3.65B |
| Cash Interest Paid | 128.00M | 127.00M | 127.00M | 127.00M | 128.00M | 139.00M |
| Cash Income Tax Paid | 446.00M | 458.00M | 378.00M | 267.00M | 255.00M | 286.00M |
| Change in Working Capital | 1.59B | 2.33B | 2.67B | 1.15B | 1.33B | 1.91B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 35.52B | 34.64B | 34.61B | 27.55B | 23.09B | 17.09B |
| Enterprise Value | 38.66B | 37.13B | 37.14B | 30.25B | 25.84B | 19.52B |
| PE Ratio | 8.92 | 7.95 | 8.10 | 6.26 | 16.08 | 8.16 |
| PS Ratio | 1.89 | 1.74 | 1.98 | 2.02 | 2.40 | 1.85 |
| PB Ratio | 1.60 | 1.43 | 1.66 | 1.50 | 1.79 | 1.26 |
| P/FCF Ratio | 6.31 | 5.65 | 5.23 | 4.84 | 6.13 | 5.05 |
| P/OCF Ratio | 6.26 | 5.61 | 5.19 | 4.79 | 6.05 | 4.99 |
| EV/Sales Ratio | 2.06 | 1.86 | 2.13 | 2.22 | 2.69 | 2.11 |
| EV/EBITDA Ratio | 7.40 | 6.72 | 7.65 | 8.22 | 15.93 | 8.55 |
| EV/EBIT Ratio | 7.60 | 6.97 | 8.04 | 8.44 | 17.05 | 8.87 |
| EV/FCF Ratio | 6.87 | 6.06 | 5.61 | 5.31 | 6.86 | 5.77 |
| Debt / Equity Ratio | 0.19 | 0.12 | 0.14 | 0.16 | 0.22 | 0.21 |
| Debt / EBITDA Ratio | 0.82 | 0.52 | 0.59 | 0.78 | 1.74 | 1.23 |
| Debt / FCF Ratio | 0.76 | 0.47 | 0.44 | 0.51 | 0.76 | 0.84 |
| Net Debt / Equity Ratio | 0.14 | 0.08 | 0.09 | 0.11 | 0.16 | 0.15 |
| Net Debt / EBITDA Ratio | 0.60 | 0.34 | 0.39 | 0.53 | 1.25 | 0.87 |
| Net Debt / FCF Ratio | 0.56 | 0.31 | 0.29 | 0.34 | 0.54 | 0.59 |
| Quick Ratio | 0.28 | 0.50 | 0.28 | 0.28 | 0.26 | 0.28 |
| Current Ratio | 0.56 | 1.08 | 0.56 | 0.59 | 0.58 | 0.61 |
| Asset Turnover | 0.23 | 0.27 | 0.27 | 0.26 | 0.21 | 0.21 |
| Return on Equity (ROE) | 18.74% | 19.54% | 22.01% | 28.41% | 11.20% | 16.26% |
| Return on Assets (ROA) | 3.90% | 4.44% | 4.45% | 4.19% | 2.04% | 3.11% |
| Return on Invested Capital (ROIC) | 15.92% | 17.89% | 18.97% | 19.36% | 8.93% | 12.30% |
| Earnings Yield | 11.22% | 12.70% | 12.46% | 16.12% | 6.39% | 12.62% |
| FCF Yield | 15.85% | 17.69% | 19.14% | 20.67% | 16.31% | 19.80% |
| Payout Ratio | 1.07% | 44.20% | 0.90% | 2.71% | 2.18% | |
| Buyback Yield / Dilution | 6.92% | 1.54% | -0.79% | -0.32% | 5.67% | 2.43% |