Mercury General (MCY) FY2018 results: revenue $3.4 billion, down 1.1% on the year
Mercury General Corp. (MCY) reported revenue of $3.4 billion for fiscal 2018, the year ended 31 December 2018, down 1.1% on the year before. Net income was -$6 million, and diluted earnings per share $-0.10. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$3.4 billion
-1.1% on the year
FY2011FY2018
Operating margin
-0.9%
4.9% a year earlier
FY2011FY2018
Net income
-$6 million
FY2011FY2018
Diluted EPS
-$0.10
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,380
3,416
3,228
-1.1%
Cost of revenue
10.5
10.2
n/a
+2.9%
Gross profit
3,370
3,406
n/a
-1.1%
Gross margin
99.7%
99.7%
n/a
Operating income
-30.6
167
70.7
Operating margin
-0.9%
4.9%
2.2%
Interest expense
17.0
15.2
4.0
+12.3%
Pre-tax income
-30.6
167
70.7
Income tax
-24.9
22.2
-2.3
Effective tax rate
n/a
13.3%
-3.3%
Net income
-5.7
145
73.0
Net margin
-0.2%
4.2%
2.3%
Diluted EPS
-$0.10
$2.62
$1.32
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
383
341
292
+12.3%
Capital expenditure
28.0
19.4
17.0
+43.8%
Free cash flow
355
322
275
+10.4%
Free cash flow margin
10.5%
9.4%
8.5%
Cash from investing
-222
-186
-227
Cash from financing
-138
-84.7
-109
Depreciation and amortisation
58.8
55.3
53.3
+6.2%
Share-based compensation
0.1
0.1
0.1
+141.7%
Dividends paid
138
138
137
+0.4%
Dividend per share
$2.50
$2.49
$2.48
+0.4%
Diluted shares, weighted
55m
55m
55m
+0.0%
Shares outstanding at period end
55m
55m
55m
+0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,618
1,761
1,752
-8.2%
Debt
375
375
320
0.0%
Other liabilities
3,441
2,965
2,716
+16.1%
Total liabilities and equity
5,434
5,101
4,789
+6.5%
Fixed assets
153
145
156
+5.4%
Goodwill
42.8
42.8
42.8
0.0%
Intangible assets
15.5
20.7
25.6
-25.1%
Investments
253
303
376
-16.3%
Cash and equivalents
314
291
220
+7.9%
Other assets
4,655
4,298
3,968
+8.3%
Total assets
5,434
5,101
4,789
+6.5%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.