Mercury General (MCY) FY2016 results: revenue $3.2 billion, up 7.3% on the year
Mercury General Corp. (MCY) reported revenue of $3.2 billion for fiscal 2016, the year ended 31 December 2016, up 7.3% on the year before. Net income was $73 million, down 1.9%, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2017.
Revenue
$3.2 billion
+7.3% on the year
FY2009FY2016
Operating margin
2.2%
2.3% a year earlier
FY2009FY2016
Net income
$73 million
-1.9% on the year
FY2009FY2016
Diluted EPS
$1.32
-2.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,228
3,009
3,012
+7.3%
Operating income
70.7
70.6
247
+0.2%
Operating margin
2.2%
2.3%
8.2%
Interest expense
4.0
3.2
2.6
+25.1%
Pre-tax income
70.7
70.6
247
+0.2%
Income tax
-2.3
-3.9
69.5
Effective tax rate
-3.3%
-5.5%
28.1%
Net income
73.0
74.5
178
-1.9%
Net margin
2.3%
2.5%
5.9%
Diluted EPS
$1.32
$1.35
$3.23
-2.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
292
190
247
+53.3%
Capital expenditure
17.0
20.1
26.0
-15.6%
Free cash flow
275
170
220
+61.5%
Free cash flow margin
8.5%
5.7%
7.3%
Cash from investing
-227
-81.7
-194
Cash from financing
-109
-134
-29.1
Depreciation and amortisation
53.3
47.8
28.1
+11.3%
Share-based compensation
0.1
0.1
4.1
0.0%
Dividends paid
137
136
135
+0.6%
Dividend per share
$2.48
$2.47
$2.46
+0.4%
Diluted shares, weighted
55m
55m
55m
+0.2%
Shares outstanding at period end
55m
55m
55m
+0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,752
1,821
1,875
-3.8%
Debt
320
290
290
+10.3%
Other liabilities
2,716
2,518
2,435
+7.9%
Total liabilities and equity
4,789
4,629
4,600
+3.5%
Fixed assets
156
157
159
-0.8%
Goodwill
42.8
42.8
42.8
0.0%
Intangible assets
25.6
31.7
35.6
-19.2%
Investments
376
185
373
+102.8%
Cash and equivalents
220
264
290
-16.6%
Other assets
3,968
3,948
3,700
+0.5%
Total assets
4,789
4,629
4,600
+3.5%
10-K for the year ended 31 December 2016, filed 9 February 2017: the filing.