Arch Capital Group (ACGL) FY2015 results: revenue $3.9 billion, down 1.3% on the year
Arch Capital Group Ltd. (ACGL) reported revenue of $3.9 billion for fiscal 2015, the year ended 31 December 2015, down 1.3% on the year before. Net income was $538 million, down 35.6%, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$3.9 billion
-1.3% on the year
FY2008FY2015
Operating margin
14.4%
21.2% a year earlier
FY2008FY2015
Net income
$538 million
-35.6% on the year
FY2008FY2015
Diluted EPS
$1.36
-32.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,937
3,989
3,526
-1.3%
Operating income
567
844
743
-32.8%
Operating margin
14.4%
21.2%
21.1%
Interest expense
45.9
45.6
27.1
+0.5%
Pre-tax income
567
844
743
-32.8%
Income tax
40.6
23.0
32.8
+76.7%
Effective tax rate
7.2%
2.7%
4.4%
Net income
538
834
710
-35.6%
Net margin
13.7%
20.9%
20.1%
Diluted EPS
$1.36
$2.01
$1.69
-32.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
998
1,037
851
-3.8%
Capital expenditure
15.7
19.9
17.5
-20.9%
Free cash flow
982
1,017
833
-3.4%
Free cash flow margin
24.9%
25.5%
23.6%
Cash from investing
n/a
n/a
-1,308
Cash from financing
n/a
n/a
524
Share-based compensation
56.1
54.8
49.2
+2.4%
Buybacks
365
454
57.8
-19.5%
Diluted shares, weighted
378m
405m
407m
-6.6%
Shares outstanding at period end
368m
382m
401m
-3.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,167
6,092
5,647
+1.2%
Non-controlling interest
739
769
0.0
-3.9%
Debt
791
791
800
+0.0%
Other liabilities
15,481
14,358
13,119
+7.8%
Total liabilities and equity
23,177
22,010
19,566
+5.3%
Goodwill
15.5
14.9
0.0
+3.9%
Intangible assets
48.5
61.1
10.7
-20.6%
Securities held for sale or to maturity
10,459
10,751
9,572
-2.7%
Cash and equivalents
553
486
434
+13.9%
Other assets
12,101
10,697
9,550
+13.1%
Total assets
23,177
22,010
19,566
+5.3%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.