Mercury General Financials
Mercury General (MCY) reported $6.0B in revenue for fiscal year 2025, up 9.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation, not balance-sheet leverage, is driving MCY's expansion and the durability of its recent profit recovery.
In the last two years, operating cash flow stayed above$1.0B while long-term debt remained near$575M , so the company appears to be converting earnings into cash fast enough to fund growth without leaning harder on borrowing. That shows up in liquidity building: cash rose to$1.3B by FY2025 even as debt-to-equity eased to 0.2x.
The key turnaround is not just that profit recovered after FY2022; it is that the cash engine never really shut off. By FY2025, net margin reached
MCY also looks like a low-capex model with meaningful financial flexibility. In the latest year, capital spending was only
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Mercury General's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Mercury General, and counted as zero in the overall score.
Mercury General passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Mercury General generates $2.01 in operating cash flow ($1.1B OCF vs $541.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Mercury General generated $6.0B in revenue in fiscal year 2025. This represents an increase of 9.4% from the prior year.
Mercury General reported $541.1M in net income in fiscal year 2025. This represents an increase of 15.6% from the prior year.
Mercury General earned $9.77 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.6% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Mercury General generated $1.0B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 3.8% from the prior year.
Mercury General held $1.3B in cash against $574.5M in long-term debt as of fiscal year 2025.
Mercury General paid $1.27 per share in dividends in fiscal year 2025. That is unchanged from the prior year.
Margins & Returns
Mercury General's net profit margin was 9.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.5 percentage points from the prior year.
Mercury General's ROE was 22.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Mercury General invested $58.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
MCY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.3B | $6.0B+9.4% | $5.5B+18.3% | $4.6B+27.1% | $3.6B-8.8% | $4.0B+5.5% | $3.8B-4.7% | $4.0B+17.5% | $3.4B-1.1% | $3.4B+5.8% | $3.2B+7.3% | $3.0B-0.1% | $3.0B+6.8% | $2.8B+1.4% | $2.8B+0.2% | $2.8B |
| Cost of Revenue | $16.6M | $15.2M+13.4% | $13.4M+17.5% | $11.4M+3.6% | $11.0M-14.1% | $12.8M+8.5% | $11.8M+12.4% | $10.5M0.0% | $10.5M+2.9% | $10.2M | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $29.0M | $28.6M-7.1% | $30.8M+27.5% | $24.2M+40.3% | $17.2M+0.7% | $17.1M+0.4% | $17.0M+0.1% | $17.0M0.0% | $17.0M+12.3% | $15.2M+282.8% | $4.0M+25.1% | $3.2M+20.1% | $2.6M+109.3% | $1.3M-18.3% | $1.5M-72.2% | $5.5M |
| Income Tax | $225.3M | $122.6M+14.6% | $106.9M+3358.2% | $3.1M+102.0% | -$158.0M-407.7% | $51.4M-38.8% | $83.9M+44.7% | $58.0M+333.0% | -$24.9M-212.1% | $22.2M+1057.2% | -$2.3M+40.7% | -$3.9M-105.6% | $69.5M+248.2% | $20.0M+8.4% | $18.4M-65.9% | $53.9M |
| Net Income | $936.9M | $541.1M+15.6% | $468.0M+385.8% | $96.3M+118.8% | -$512.7M-306.8% | $247.9M-33.8% | $374.6M+17.0% | $320.1M+5688.1% | -$5.7M-104.0% | $144.9M+98.3% | $73.0M-1.9% | $74.5M-58.1% | $177.9M+58.7% | $112.1M-4.1% | $116.9M-38.8% | $191.2M |
| EPS (Diluted) | — | $9.77+15.6% | $8.45+385.6% | $1.74+118.8% | -$9.26-306.7% | $4.48-33.8% | $6.77+17.1% | $5.78+5880.0% | -$0.10-103.8% | $2.62+98.5% | $1.32-2.2% | $1.35-58.2% | $3.23+58.3% | $2.04-4.2% | $2.13-39.0% | $3.49 |
Not reported in any period shown, so not listed: Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MCY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.6B+15.0% | $8.3B+17.0% | $7.1B+9.0% | $6.5B-3.8% | $6.8B+7.0% | $6.3B+7.5% | $5.9B+8.4% | $5.4B+6.5% | $5.1B+6.5% | $4.8B+3.5% | $4.6B+0.6% | $4.6B+6.6% | $4.3B+3.0% | $4.2B+2.9% | $4.1B |
| Cash & Equivalents | $1.3B+82.7% | $720.3M+30.7% | $550.9M+90.1% | $289.8M-13.6% | $335.6M-3.7% | $348.5M+18.4% | $294.4M-6.3% | $314.3M+7.9% | $291.4M+32.3% | $220.3M-16.6% | $264.2M-8.9% | $289.9M+8.8% | $266.5M+68.5% | $158.2M-25.2% | $211.4M |
| Goodwill | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M0.0% | $42.8M-0.1% | $42.9M |
| Total Liabilities | $7.1B+12.2% | $6.4B+14.6% | $5.6B+11.3% | $5.0B+7.8% | $4.6B+7.8% | $4.3B+5.0% | $4.1B+7.2% | $3.8B+14.3% | $3.3B+10.0% | $3.0B+8.1% | $2.8B+3.0% | $2.7B+9.3% | $2.5B+6.2% | $2.3B+6.1% | $2.2B |
| Long-Term Debt | $574.5M-0.1% | $575.0M0.0% | $575.0M+43.8% | $400.0M+6.7% | $375.0M0.0% | $375.0M0.0% | $375.0M0.0% | $375.0M0.0% | $375.0M | N/A | N/A | N/A | $120.0M0.0% | $120.0M | N/A |
| Total Equity | $2.4B+24.2% | $1.9B+25.7% | $1.5B+1.7% | $1.5B-28.9% | $2.1B+5.3% | $2.0B+13.0% | $1.8B+11.2% | $1.6B-8.2% | $1.8B+0.5% | $1.8B-3.8% | $1.8B-2.9% | $1.9B+2.9% | $1.8B-1.1% | $1.8B-0.8% | $1.9B |
| Retained Earnings | $2.3B+25.5% | $1.8B+27.4% | $1.4B+1.8% | $1.4B-30.3% | $2.0B+5.6% | $1.9B+13.7% | $1.7B+11.9% | $1.5B-8.7% | $1.7B+0.4% | $1.7B-3.7% | $1.7B-3.5% | $1.8B+2.4% | $1.7B-1.3% | $1.8B-1.0% | $1.8B |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.
MCY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3B | $1.1B+4.8% | $1.0B+128.9% | $453.0M+28.5% | $352.6M-29.7% | $501.6M-17.2% | $605.6M+16.5% | $519.7M+35.5% | $383.4M+12.3% | $341.4M+17.0% | $291.7M+53.3% | $190.3M-22.8% | $246.5M+17.5% | $209.8M+41.7% | $148.1M-6.6% | $158.5M |
| Capital Expenditures | $63.9M | $58.4M+26.6% | $46.1M+25.3% | $36.8M+3.7% | $35.5M-14.3% | $41.4M+3.7% | $40.0M-0.3% | $40.1M+43.4% | $28.0M+43.8% | $19.4M+14.5% | $17.0M-15.6% | $20.1M-22.8% | $26.0M+39.5% | $18.7M+23.0% | $15.2M-16.1% | $18.1M |
| Free Cash Flow | $1.3B | $1.0B+3.8% | $991.0M+138.1% | $416.2M+31.3% | $317.1M-31.1% | $460.1M-18.7% | $565.7M+17.9% | $479.6M+34.9% | $355.5M+10.4% | $322.0M+17.2% | $274.7M+61.4% | $170.2M-22.8% | $220.5M+15.4% | $191.1M+43.8% | $132.9M-5.4% | $140.4M |
| Investing Cash Flow | -$1.0B | -$420.2M+47.3% | -$796.7M-169.6% | -$295.5M+6.6% | -$316.4M+15.3% | -$373.7M+9.1% | -$411.3M-2.5% | -$401.2M-80.4% | -$222.4M-19.8% | -$185.6M+18.1% | -$226.7M-177.6% | -$81.7M+57.9% | -$194.0M-957.4% | -$18.4M+73.7% | -$69.7M-156.0% | $124.6M |
| Financing Cash Flow | $298.3M | -$71.7M-0.9% | -$71.1M-168.7% | $103.6M+226.3% | -$82.0M+41.8% | -$140.8M-0.4% | -$140.2M-1.4% | -$138.4M-0.2% | -$138.1M-63.0% | -$84.7M+22.2% | -$108.9M+18.9% | -$134.3M-361.4% | -$29.1M+65.0% | -$83.1M+36.8% | -$131.5M+48.0% | -$253.1M |
| Dividends Paid | N/A | $70.3M0.0% | $70.3M0.0% | $70.3M-33.3% | $105.5M-24.8% | $140.2M+0.4% | $139.6M+0.4% | $139.1M+0.4% | $138.5M+0.4% | $137.9M+0.5% | $137.2M+0.6% | $136.4M+0.7% | $135.5M+0.5% | $134.8M+0.5% | $134.1M+1.5% | $132.1M |
Not reported in any period shown, so not listed: Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MCY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 9.0%+0.5pp | 8.6%+6.5pp | 2.1%+16.1pp | -14.1%-20.3pp | 6.2%-3.7pp | 9.9%+1.8pp | 8.1%+8.2pp | -0.2%-4.4pp | 4.2%+2.0pp | 2.3%-0.2pp | 2.5%-3.4pp | 5.9%+1.9pp | 4.0%-0.2pp | 4.2%-2.7pp | 6.9% |
| Return on Equity | 22.4%-1.7pp | 24.0%+17.8pp | 6.2%+39.9pp | -33.7%-45.3pp | 11.6%-6.8pp | 18.4%+0.6pp | 17.8%+18.1pp | -0.4%-8.6pp | 8.2%+4.1pp | 4.2%+0.1pp | 4.1%-5.4pp | 9.5%+3.3pp | 6.2%-0.2pp | 6.3%-3.9pp | 10.3% |
| Return on Assets | 5.7%0.0pp | 5.6%+4.3pp | 1.4%+9.2pp | -7.9%-11.5pp | 3.7%-2.3pp | 5.9%+0.5pp | 5.4%+5.5pp | -0.1%-3.0pp | 2.8%+1.3pp | 1.5%-0.1pp | 1.6%-2.3pp | 3.9%+1.3pp | 2.6%-0.2pp | 2.8%-1.9pp | 4.7% |
| Debt-to-Equity | 0.24-0.1x | 0.30-0.1x | 0.37+0.1x | 0.26+0.1x | 0.180.0x | 0.180.0x | 0.210.0x | 0.230.0x | 0.21-1.5x | 1.73+0.2x | 1.54+0.1x | 1.45+1.4x | 0.070.0x | 0.07-1.1x | 1.19 |
| FCF Margin | 17.2%-0.9pp | 18.1%+9.1pp | 9.0%+0.3pp | 8.7%-2.8pp | 11.5%-3.4pp | 14.9%+2.9pp | 12.1%+1.6pp | 10.5%+1.1pp | 9.4%+0.9pp | 8.5%+2.9pp | 5.7%-1.7pp | 7.3%+0.5pp | 6.8%+2.0pp | 4.8%-0.3pp | 5.1% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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Where Mercury General Ranks
Frequently Asked Questions
What is Mercury General's annual revenue?
Mercury General (MCY) reported $6.0B in total revenue for fiscal year 2025. This represents a 9.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mercury General's revenue growing?
Mercury General (MCY) revenue grew by 9.4% year-over-year, from $5.5B to $6.0B in fiscal year 2025.
Is Mercury General profitable?
Yes, Mercury General (MCY) reported a net income of $541.1M in fiscal year 2025, with a net profit margin of 9.0%.
How much debt does Mercury General have?
As of fiscal year 2025, Mercury General (MCY) had $1.3B in cash and equivalents against $574.5M in long-term debt.
What is Mercury General's net profit margin?
Mercury General (MCY) had a net profit margin of 9.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Mercury General pay dividends?
Yes, Mercury General (MCY) paid $1.27 per share in dividends during fiscal year 2025.
What is Mercury General's return on equity (ROE)?
Mercury General (MCY) has a return on equity of 22.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mercury General's free cash flow?
Mercury General (MCY) generated $1.0B in free cash flow during fiscal year 2025. This represents a 3.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mercury General's operating cash flow?
Mercury General (MCY) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mercury General's total assets?
Mercury General (MCY) had $9.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mercury General's capital expenditures?
Mercury General (MCY) invested $58.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Mercury General's debt-to-equity ratio?
Mercury General (MCY) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mercury General's return on assets (ROA)?
Mercury General (MCY) had a return on assets of 5.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mercury General's Piotroski F-Score?
Mercury General (MCY) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mercury General's earnings high quality?
Mercury General (MCY) has an earnings quality ratio of 2.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Mercury General?
Mercury General (MCY) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.