NYSE : MCY
Mercury General Corporation — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 102.65 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.69B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 5.81B | 5.51B | 5.08B | 4.27B | 3.95B | 3.74B |
| Total Interest & Dividend Income | 343.86M | 328.70M | 279.99M | 234.63M | 168.36M | 129.73M |
| Gain (Loss) on Sale of Investments | 166.54M | 131.37M | 88.67M | 101.01M | -488.08M | 111.66M |
| Other Revenue | 23.20M | 24.09M | 16.72M | 19.61M | 10.31M | 10.02M |
| Total Revenue | 6.34B | 5.99B | 5.46B | 4.63B | 3.64B | 3.99B |
| Policy Benefits | 3.71B | 3.96B | 3.68B | 3.52B | 3.36B | 2.76B |
| Policy Acquisition & Underwriting Costs | 931.67M | 910.94M | 837.46M | 699.62M | 642.81M | 583.28M |
| Selling, General & Administrative | 54.38M | 40.88M | 31.04M | 21.69M | 28.73M | 67.45M |
| Other Operating Expenses | 442.08M | 370.75M | 312.32M | 266.87M | 262.79M | 266.05M |
| Total Operating Expenses | 5.15B | 5.30B | 4.87B | 4.51B | 4.30B | 3.68B |
| Operating Income | 1.19B | 689.57M | 590.90M | 123.60M | -653.48M | 316.42M |
| Interest Expense | -28.97M | -28.62M | -30.82M | -24.17M | -17.23M | -17.11M |
| EBT Excluding Unusual Items | 1.16B | 660.95M | 560.08M | 99.43M | -670.72M | 299.31M |
| Gain (Loss) on Sale of Assets | 2.70M | 2.70M | 14.80M | |||
| Pretax Income | 1.16B | 663.65M | 574.88M | 99.43M | -670.72M | 299.31M |
| Income Tax Expense | 225.31M | 122.56M | 106.93M | 3.09M | -158.04M | 51.37M |
| Net Income | 936.87M | 541.09M | 467.95M | 96.34M | -512.67M | 247.94M |
| Net Income to Common | 936.87M | 541.09M | 467.95M | 96.34M | -512.67M | 247.94M |
| Shares Outstanding (Basic) | 55.39M | 55.39M | 55.37M | 55.37M | 55.37M | 55.37M |
| Shares Outstanding (Diluted) | 55.39M | 55.39M | 55.38M | 55.37M | 55.37M | 55.37M |
| EPS (Basic) | 16.91 | 9.77 | 8.45 | 1.74 | -9.26 | 4.48 |
| EPS (Diluted) | 16.91 | 9.77 | 8.45 | 1.74 | -9.26 | 4.48 |
| Free Cash Flow | 1.26B | 1.03B | 990.98M | 416.19M | 317.08M | 460.14M |
| Free Cash Flow Per Share | 22.82 | 18.57 | 17.89 | 7.52 | 5.73 | 8.31 |
| Dividend Per Share | 1.27 | 1.27 | 1.27 | 1.27 | 1.91 | 2.53 |
| Operating Margin | 18.75% | 11.51% | 10.82% | 2.67% | -17.94% | 7.92% |
| Profit Margin | 14.78% | 9.03% | 8.57% | 2.08% | -14.07% | 6.21% |
| Free Cash Flow Margin | 19.93% | 17.18% | 18.15% | 8.99% | 8.70% | 11.52% |
| EBITDA | 1.27B | 764.56M | 664.34M | 195.84M | -571.09M | 395.48M |
| EBITDA Margin | 20.02% | 12.76% | 12.16% | 4.23% | -15.68% | 9.90% |
| D&A For EBITDA | 80.41M | 74.99M | 73.43M | 72.24M | 82.39M | 79.06M |
| EBIT | 1.19B | 689.57M | 590.90M | 123.60M | -653.48M | 316.42M |
| EBIT Margin | 18.75% | 11.51% | 10.82% | 2.67% | -17.94% | 7.92% |
| Effective Tax Rate | 19.39% | 18.47% | 18.60% | 3.11% | 17.16% | |
| Revenue as Reported | 6.34B | 5.99B | 5.48B | 4.63B | 3.64B | 3.99B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 5.79B | 5.43B | 4.91B | 4.32B | 4.09B | 4.03B |
| Investments in Equity & Preferred Securities | 974.21M | 812.79M | 879.17M | 730.69M | 699.55M | 970.94M |
| Other Investments | 368.36M | 336.99M | 283.82M | 178.49M | 122.94M | 140.13M |
| Total Investments | 7.13B | 6.58B | 6.08B | 5.23B | 4.91B | 5.14B |
| Cash & Equivalents | 1.70B | 1.32B | 720.26M | 550.90M | 289.78M | 335.56M |
| Reinsurance Recoverable | 44.25M | 109.67M | 28.61M | 31.95M | 25.89M | 45.00M |
| Other Receivables | 985.38M | 915.06M | 851.75M | 700.51M | 685.08M | 686.75M |
| Deferred Policy Acquisition Cost | 378.01M | 359.72M | 335.33M | 293.84M | 266.48M | 258.26M |
| Property, Plant & Equipment | 170.09M | 160.50M | 154.55M | 168.59M | 195.86M | 226.80M |
| Goodwill | 42.80M | 42.80M | 42.80M | 42.80M | 42.80M | 42.80M |
| Other Intangible Assets | 6.40M | 6.83M | 7.68M | 8.33M | 9.21M | 10.26M |
| Other Current Assets | 20.20M | |||||
| Long-Term Deferred Tax Assets | 23.86M | 30.64M | 45.85M | 33.01M | 42.90M | |
| Long-Term Deferred Charges | 200.00K | 1.10M | 2.80M | |||
| Other Long-Term Assets | 59.63M | 39.85M | 47.42M | 44.74M | 24.09M | 21.67M |
| Total Assets | 10.54B | 9.56B | 8.31B | 7.10B | 6.51B | 6.77B |
| Accounts Payable | 422.76M | 448.70M | 417.76M | 175.22M | 151.69M | 169.12M |
| Accrued Expenses | 28.90M | 18.50M | 4.60M | |||
| Insurance & Annuity Liabilities | 3.67B | 3.63B | 3.15B | 2.79B | 2.58B | 2.23B |
| Unearned Premiums | 2.41B | 2.26B | 2.04B | 1.74B | 1.55B | 1.52B |
| Current Portion of Long-Term Debt | 375.00M | |||||
| Current Portion of Leases | 6.77M | |||||
| Current Income Taxes Payable | 2.95M | 30.77M | 20.75M | |||
| Long-Term Debt | 568.75M | 574.53M | 574.13M | 573.73M | 398.33M | 372.93M |
| Long-Term Leases | 18.38M | 6.71M | 16.10M | 17.07M | 25.50M | 37.70M |
| Long-Term Deferred Tax Liabilities | 53.57M | |||||
| Other Current Liabilities | 1.88M | 254.00K | 213.00K | 1.96M | 162.00K | 301.00K |
| Other Long-Term Liabilities | 198.19M | 167.89M | 138.69M | 265.92M | 285.83M | 252.33M |
| Total Liabilities | 7.71B | 7.14B | 6.36B | 5.56B | 4.99B | 4.63B |
| Common Stock | 99.70M | 99.70M | 99.70M | 98.95M | 98.95M | 98.94M |
| Retained Earnings | 2.74B | 2.32B | 1.85B | 1.45B | 1.42B | 2.04B |
| Shareholders' Equity | 2.84B | 2.42B | 1.95B | 1.55B | 1.52B | 2.14B |
| Total Liabilities & Equity | 10.54B | 9.56B | 8.31B | 7.10B | 6.51B | 6.77B |
| Filing Date Shares Outstanding | 55.39M | 55.39M | 55.39M | 55.37M | 55.37M | 55.37M |
| Total Common Shares Outstanding | 55.39M | 55.39M | 55.39M | 55.37M | 55.37M | 55.37M |
| Total Debt | 962.13M | 588.00M | 590.23M | 590.80M | 423.83M | 410.63M |
| Net Cash (Debt) | 738.70M | 727.57M | 130.03M | -39.90M | -134.05M | -75.08M |
| Net Cash Per Share | 13.34 | 13.14 | 2.35 | -0.72 | -2.42 | -1.36 |
| Book Value Per Share | 51.20 | 43.64 | 35.14 | 27.96 | 27.49 | 38.65 |
| Tangible Book Value | 2.79B | 2.37B | 1.90B | 1.50B | 1.47B | 2.09B |
| Tangible Book Value Per Share | 50.31 | 42.75 | 34.23 | 27.04 | 26.55 | 37.70 |
| Land | 4.95M | 6.67M | 9.71M | 18.15M | 18.15M | |
| Buildings | 40.78M | 35.60M | 65.41M | 105.53M | 142.18M | |
| Machinery | 30.68M | 29.29M | 31.07M | 45.83M | 48.51M | |
| Leasehold Improvements | 1.89M | 1.96M | 2.89M | 5.47M | 6.58M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 936.87M | 541.09M | 467.95M | 96.34M | -512.67M | 247.94M |
| Depreciation & Amortization | 80.41M | 74.99M | 73.43M | 72.24M | 82.39M | 79.06M |
| Gain (Loss) on Sale of Assets | 1.00K | -2.69M | -13.69M | -5.88M | 927.00K | -17.00K |
| Gain (Loss) on Sale of Investments | -166.54M | -131.37M | -88.67M | -101.01M | 488.08M | -111.66M |
| Change in Accounts Receivable | -72.46M | -54.78M | -89.05M | -35.62M | 49.63M | -26.67M |
| Reinsurance Recoverable | 346.47M | -81.06M | 3.33M | -6.05M | 19.11M | 3.49M |
| Change in Accounts Payable | -44.68M | 32.75M | 69.62M | 29.91M | -15.84M | -26.72M |
| Change in Unearned Revenue | 229.99M | 216.10M | 304.17M | 190.02M | 25.84M | 113.93M |
| Change in Income Taxes | -5.06M | 25.24M | 11.99M | 60.95M | -131.50M | -18.10M |
| Change in Insurance Reserves / Liabilities | 62.54M | 481.31M | 366.33M | 200.79M | 358.48M | 235.13M |
| Other Operating Activities | -11.06M | 10.00M | -26.81M | -21.31M | -3.63M | 16.48M |
| Operating Cash Flow | 1.33B | 1.09B | 1.04B | 453.00M | 352.59M | 501.58M |
| Capital Expenditures | -63.85M | -58.43M | -46.14M | -36.81M | -35.51M | -41.44M |
| Sale of Property, Plant & Equipment | 21.42M | 34.15M | 12.71M | 29.86M | 3.00K | 27.00K |
| Investment in Securities | -1.04B | -404.07M | -806.96M | -262.44M | -308.75M | -349.65M |
| Other Investing Activities | 32.17M | 8.20M | 43.74M | -26.06M | 27.87M | 17.40M |
| Investing Cash Flow | -1.05B | -420.16M | -796.66M | -295.45M | -316.38M | -373.67M |
| Long-Term Debt Issued | 175.00M | 25.00M | ||||
| Total Debt Repaid | -150.82M | -1.37M | -1.53M | -1.10M | -1.50M | -825.00K |
| Net Debt Issued (Repaid) | 368.60M | -1.37M | -1.53M | 173.90M | 23.50M | -825.00K |
| Issuance of Common Stock | 752.00K | 215.00K | ||||
| Common Dividends Paid | -70.34M | -70.34M | -70.33M | -70.32M | -105.48M | -140.23M |
| Financing Cash Flow | 298.26M | -71.72M | -71.11M | 103.58M | -81.99M | -140.84M |
| Net Cash Flow | 578.58M | 595.32M | 169.35M | 261.13M | -45.78M | -12.92M |
| Free Cash Flow | 1.26B | 1.03B | 990.98M | 416.19M | 317.08M | 460.14M |
| Free Cash Flow Margin | 19.93% | 17.18% | 18.15% | 8.99% | 8.70% | 11.52% |
| Free Cash Flow Per Share | 22.82 | 18.57 | 17.89 | 7.52 | 5.73 | 8.31 |
| Levered Free Cash Flow | 1.14B | 2.52B | 720.34M | 266.05M | -346.27M | 498.33M |
| Unlevered Free Cash Flow | 1.16B | 2.54B | 739.61M | 281.16M | -335.50M | 509.03M |
| Cash Interest Paid | 27.44M | 28.16M | 30.08M | 23.00M | 16.66M | 16.62M |
| Cash Income Tax Paid | 230.37M | 97.32M | 94.94M | -57.85M | -26.54M | 69.47M |
| Change in Working Capital | 487.93M | 595.17M | 624.90M | 412.63M | 297.50M | 269.78M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.68B | 5.21B | 3.68B | 2.07B | 1.89B | 2.94B |
| Enterprise Value | 4.95B | 4.55B | 3.65B | 2.20B | 1.96B | 3.01B |
| PE Ratio | 6.07 | 9.63 | 7.87 | 21.45 | 11.85 | |
| PS Ratio | 0.89 | 0.87 | 0.67 | 0.45 | 0.52 | 0.74 |
| PB Ratio | 2.00 | 2.15 | 1.89 | 1.33 | 1.24 | 1.37 |
| P/FCF Ratio | 4.49 | 5.06 | 3.71 | 4.96 | 5.97 | 6.38 |
| P/OCF Ratio | 4.27 | 4.79 | 3.55 | 4.56 | 5.37 | 5.86 |
| EV/Sales Ratio | 0.78 | 0.76 | 0.67 | 0.48 | 0.54 | 0.75 |
| EV/EBITDA Ratio | 3.89 | 5.95 | 5.50 | 11.26 | 7.60 | |
| EV/EBIT Ratio | 4.15 | 6.59 | 6.18 | 17.84 | 9.50 | |
| EV/FCF Ratio | 3.90 | 4.42 | 3.69 | 5.30 | 6.17 | 6.53 |
| Debt / Equity Ratio | 0.34 | 0.24 | 0.30 | 0.38 | 0.28 | 0.19 |
| Debt / EBITDA Ratio | 0.75 | 0.76 | 0.88 | 2.84 | 0.99 | |
| Debt / FCF Ratio | 0.76 | 0.57 | 0.60 | 1.42 | 1.34 | 0.89 |
| Net Debt / Equity Ratio | -0.26 | -0.30 | -0.07 | 0.03 | 0.09 | 0.04 |
| Net Debt / EBITDA Ratio | -0.58 | -0.95 | -0.20 | 0.20 | -0.23 | 0.19 |
| Net Debt / FCF Ratio | -0.58 | -0.71 | -0.13 | 0.10 | 0.42 | 0.16 |
| Quick Ratio | 0.92 | 0.52 | 0.71 | 0.71 | 0.62 | 0.66 |
| Current Ratio | 0.95 | 0.56 | 0.75 | 0.76 | 0.67 | 0.71 |
| Asset Turnover | 0.65 | 0.67 | 0.71 | 0.68 | 0.55 | 0.61 |
| Return on Equity (ROE) | 38.99% | 24.80% | 26.78% | 6.28% | -28.00% | 11.88% |
| Return on Assets (ROA) | 7.57% | 4.82% | 4.79% | 1.14% | -6.15% | 3.02% |
| Return on Invested Capital (ROIC) | 27.47% | 20.29% | 20.57% | 5.86% | -29.06% | 10.48% |
| Earnings Yield | 16.48% | 10.39% | 12.71% | 4.66% | -27.07% | 8.44% |
| FCF Yield | 22.28% | 19.75% | 26.92% | 20.15% | 16.74% | 15.66% |
| Dividend Yield | 1.24% | 1.35% | 1.91% | 3.40% | 5.57% | 4.77% |
| Payout Ratio | 7.51% | 13.00% | 15.03% | 73.00% | 56.56% | |
| Buyback Yield / Dilution | -0.01% | -0.02% | -0.01% | 0.01% | -0.03% | |
| Total Shareholder Return | 1.23% | 1.33% | 1.90% | 3.40% | 5.58% | 4.74% |