Mercury General (MCY) FY2017 results: revenue $3.4 billion, up 5.8% on the year
Mercury General Corp. (MCY) reported revenue of $3.4 billion for fiscal 2017, the year ended 31 December 2017, up 5.8% on the year before. Net income was $145 million, up 98.3%, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2018.
Revenue
$3.4 billion
+5.8% on the year
FY2010FY2017
Operating margin
4.9%
2.2% a year earlier
FY2010FY2017
Net income
$145 million
+98.3% on the year
FY2010FY2017
Diluted EPS
$2.62
+98.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,416
3,228
3,009
+5.8%
Cost of revenue
10.2
n/a
n/a
Gross profit
3,406
n/a
n/a
Gross margin
99.7%
n/a
n/a
Operating income
167
70.7
70.6
+136.2%
Operating margin
4.9%
2.2%
2.3%
Interest expense
15.2
4.0
3.2
+282.8%
Pre-tax income
167
70.7
70.6
+136.2%
Income tax
22.2
-2.3
-3.9
Effective tax rate
13.3%
-3.3%
-5.5%
Net income
145
73.0
74.5
+98.3%
Net margin
4.2%
2.3%
2.5%
Diluted EPS
$2.62
$1.32
$1.35
+98.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
341
292
190
+17.0%
Capital expenditure
19.4
17.0
20.1
+14.5%
Free cash flow
322
275
170
+17.2%
Free cash flow margin
9.4%
8.5%
5.7%
Cash from investing
-186
-227
-81.7
Cash from financing
-84.7
-109
-134
Depreciation and amortisation
55.3
53.3
47.8
+3.9%
Share-based compensation
0.1
0.1
0.1
-57.7%
Dividends paid
138
137
136
+0.5%
Dividend per share
$2.49
$2.48
$2.47
+0.4%
Diluted shares, weighted
55m
55m
55m
+0.0%
Shares outstanding at period end
55m
55m
55m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,761
1,752
1,821
+0.5%
Debt
375
320
290
+17.2%
Other liabilities
2,965
2,716
2,518
+9.2%
Total liabilities and equity
5,101
4,789
4,629
+6.5%
Fixed assets
145
156
157
-6.9%
Goodwill
42.8
42.8
42.8
0.0%
Intangible assets
20.7
25.6
31.7
-19.1%
Investments
303
376
185
-19.4%
Cash and equivalents
291
220
264
+32.3%
Other assets
4,298
3,968
3,948
+8.3%
Total assets
5,101
4,789
4,629
+6.5%
10-K for the year ended 31 December 2017, filed 8 February 2018: the filing.