Arch Capital Group (ACGL) FY2012 results: revenue $3.5 billion, up 13.7% on the year
Arch Capital Group Ltd. (ACGL) reported revenue of $3.5 billion for fiscal 2012, the year ended 31 December 2012, up 13.7% on the year before. Net income was $593 million, up 36.0%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$3.5 billion
+13.7% on the year
FY2008FY2012
Operating margin
16.9%
13.9% a year earlier
FY2008FY2012
Net income
$593 million
+36.0% on the year
FY2008FY2012
Diluted EPS
$1.34
+35.7% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
3,482
3,063
3,244
+13.7%
Operating income
589
427
850
+38.0%
Operating margin
16.9%
13.9%
26.2%
Interest expense
28.5
31.7
30.0
-10.0%
Pre-tax income
589
427
850
+38.0%
Income tax
-4.0
-9.8
7.7
Effective tax rate
-0.7%
-2.3%
0.9%
Net income
593
436
843
+36.0%
Net margin
17.0%
14.2%
26.0%
Diluted EPS
$1.34
$0.99
$1.73
+35.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
922
866
802
+6.4%
Capital expenditure
18.5
19.0
11.7
-2.4%
Free cash flow
903
847
790
+6.6%
Free cash flow margin
25.9%
27.7%
24.4%
Cash from investing
-396
-538
16.1
Cash from financing
-513
-337
-786
Share-based compensation
42.3
31.0
31.1
+36.5%
Buybacks
172
288
762
-40.2%
Diluted shares, weighted
415m
415m
473m
-0.0%
Shares outstanding at period end
402m
403m
1,257m
-0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,169
4,592
4,477
+12.6%
Non-controlling interest
0.0
n/a
n/a
Debt
300
300
300
0.0%
Other liabilities
12,348
12,213
11,502
+1.1%
Total liabilities and equity
17,817
17,105
16,279
+4.2%
Goodwill
0.0
n/a
n/a
Intangible assets
21.6
n/a
n/a
Securities held for sale or to maturity
9,840
9,376
8,958
+5.0%
Cash and equivalents
371
352
363
+5.5%
Other assets
7,584
7,378
6,959
+2.8%
Total assets
17,817
17,105
16,279
+4.2%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.