Mercury General (MCY) FY2012 results: revenue $2.8 billion, up 0.2% on the year
Mercury General Corp. (MCY) reported revenue of $2.8 billion for fiscal 2012, the year ended 31 December 2012, up 0.2% on the year before. Net income was $117 million, down 38.8%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2013.
Revenue
$2.8 billion
+0.2% on the year
FY2008FY2012
Operating margin
4.9%
8.8% a year earlier
FY2008FY2012
Net income
$117 million
-38.8% on the year
FY2008FY2012
Diluted EPS
$2.13
-39.0% 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
2,783
2,777
2,776
+0.2%
Operating income
135
245
182
-44.8%
Operating margin
4.9%
8.8%
6.6%
Interest expense
1.5
5.5
6.8
-72.2%
Pre-tax income
135
245
182
-44.8%
Income tax
18.4
53.9
30.2
-65.9%
Effective tax rate
13.6%
22.0%
16.6%
Net income
117
191
152
-38.8%
Net margin
4.2%
6.9%
5.5%
Diluted EPS
$2.13
$3.49
$2.78
-39.0%
$ 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
148
159
91.8
-6.6%
Capital expenditure
15.2
18.1
28.9
-16.1%
Free cash flow
133
140
62.9
-5.4%
Free cash flow margin
4.8%
5.1%
2.3%
Cash from investing
-69.7
125
33.1
Cash from financing
-132
-253
-129
Depreciation and amortisation
37.0
40.7
40.7
-9.1%
Share-based compensation
0.4
0.9
0.8
-58.8%
Dividends paid
134
132
130
+1.5%
Dividend per share
$2.44
$2.41
$2.37
+1.3%
Diluted shares, weighted
55m
n/a
55m
Shares outstanding at period end
55m
55m
55m
+0.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,842
1,857
1,795
-0.8%
Debt
120
140
267
-14.3%
Other liabilities
2,227
2,073
2,141
+7.5%
Total liabilities and equity
4,190
4,070
4,203
+2.9%
Fixed assets
162
178
197
-8.9%
Goodwill
42.8
42.9
42.9
-0.1%
Intangible assets
47.6
53.7
60.1
-11.5%
Investments
295
236
143
+24.6%
Cash and equivalents
158
211
211
-25.2%
Other assets
3,485
3,348
3,549
+4.1%
Total assets
4,190
4,070
4,203
+2.9%
10-K for the year ended 31 December 2012, filed 11 February 2013: the filing.