Arch Capital Group (ACGL) FY2023 results: revenue $13.6 billion, up 41.8% on the year
Arch Capital Group Ltd. (ACGL) reported revenue of $13.6 billion for fiscal 2023, the year ended 31 December 2023, up 41.8% on the year before. Net income was $4.4 billion, up 200.8%, and diluted earnings per share $11.62. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$13.6 billion
+41.8% on the year
FY2016FY2023
Operating margin
24.8%
15.5% a year earlier
FY2016FY2023
Net income
$4.4 billion
+200.8% on the year
FY2016FY2023
Diluted EPS
$11.62
+205.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
5,749
3,815
3,428
+50.7%
Capital expenditure
52.0
50.0
41.0
+4.0%
Free cash flow
5,697
3,765
3,387
+51.3%
Free cash flow margin
41.8%
39.2%
36.6%
Cash from investing
-5,468
-3,102
-2,140
Cash from financing
-69.0
-706
-1,230
Share-based compensation
93.0
88.0
88.0
+5.7%
Buybacks
0.0
586
1,234
Diluted shares, weighted
379m
378m
400m
+0.3%
Shares outstanding at period end
373m
370m
379m
+0.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
18,353
12,910
13,546
+42.2%
Non-controlling interest
n/a
0.0
0.0
Redeemable equity
2.0
11.0
9.0
-81.8%
Debt
2,726
2,725
2,724
+0.0%
Other liabilities
37,825
32,344
28,822
+16.9%
Total liabilities and equity
58,906
47,991
45,101
+22.7%
Goodwill
345
342
345
+0.9%
Intangible assets
316
393
529
-19.7%
Securities held for sale or to maturity
25,616
21,014
19,733
+21.9%
Cash and equivalents
917
855
859
+7.2%
Other assets
31,712
25,385
23,636
+24.9%
Total assets
58,906
47,991
45,101
+22.7%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.