Mercury General Corporation Financial Ratios — MCY Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	10.68	6.32	6.12	9.64	4.04	4.1	8.25	-0.34	18.73	19.55	11.88	-28	6.28	26.78	24.8
Return on Assets (%)	4.62	2.83	2.64	3.99	1.61	1.55	2.93	-0.11	5.65	6.13	3.79	-7.72	1.41	6.07	6.06
Return on Capital (%)	9.81	5.94	5.67	8.62	- -	- -	7.52	- -	15.89	16.64	10.49	- -	5.87	21.11	20.38
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	8.83	4.86	4.68	8.22	2.34	2.19	4.89	-0.91	9.52	12.12	7.5	-18.41	2.15	10.5	11.07
Profit Margin (%)	6.88	4.2	3.98	5.91	2.47	2.26	4.24	-0.17	8.06	9.9	6.21	-14.07	2.08	8.55	9.03
Net Income to Common Margin (%)	6.88	4.2	3.98	5.91	2.47	2.26	4.24	-0.17	8.06	9.9	6.21	-14.07	2.08	8.55	9.03
Effective Tax Rate (%)	22.01	13.6	15.1	28.08	- -	- -	13.29	- -	15.34	18.3	17.16	- -	3.11	18.6	18.47
Dvd Payout Ratio (%)	69.12	114.71	120.18	76.14	183.12	187.83	95.17	-2,417.56	43.45	37.28	56.56	-20.57	73	15.03	13
Sustainable Growth Rate (%)	3.3	-0.93	-1.24	2.3	-3.36	-3.6	0.4	-8.54	10.59	12.26	5.16	-33.76	1.69	22.76	21.58

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	140	140	190	290	290	320	371	372	420	416	408	420	588	588	587
ST Debt	- -	- -	- -	- -	20	200	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	140	140	190	290	270	120	371	372	420	416	408	420	588	588	587
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-3.26	-9.84	-14.82	-9.87	-6.35	-4.29	-1.28	-1.64	-2.35	-2.34	-2.42	-2.06	-1.52	-1.5	-2.04
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	6	2	1	3	3	4	15	17	17	17	17	17	24	31	29
Common Equity/Total Assets	45.63	43.98	42.22	40.69	39.15	36.59	34.53	29.77	30.56	32.12	31.6	23.37	21.79	23.42	25.28
Long-Term Debt/Equity (%)	7.54	7.6	10.43	15.46	14.83	6.85	21.08	22.98	23.35	20.48	19.04	27.61	37.98	30.19	24.28
Long-Term Debt/Capital (%)	7.01	7.06	9.44	13.42	12.84	5.79	17.41	18.69	18.93	17	15.99	21.64	27.52	23.19	19.53
Long-Term Debt/Total Assets (%)	3.44	3.34	4.4	6.3	5.83	2.51	7.28	6.84	7.13	6.58	6.02	6.45	8.28	7.07	6.14
Total Debt/Equity (%)	7.54	7.6	10.43	15.46	15.93	18.26	21.08	22.98	23.35	20.48	19.04	27.61	37.98	30.19	24.28
Total Debt/Capital (%)	7.01	7.06	9.44	13.42	13.8	15.44	17.41	18.69	18.93	17	15.99	21.64	27.52	23.19	19.53
Total Debt/Total Assets (%)	3.44	3.34	4.4	6.3	6.27	6.68	7.28	6.84	7.13	6.58	6.02	6.45	8.28	7.07	6.14
Net Debt to Equity	-3.84	-0.99	-4.2	- -	1.42	5.69	4.54	3.55	4.32	1.18	1.75	7.13	1.47	-7.51	-30.66
Net Debt/Capital (%)	-4	-1	-4.38	- -	1.4	5.38	4.34	3.43	4.04	1.15	1.69	6.57	1.44	-8.06	-43.89
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-18	-15	-19	-26	-20	-17	-19	-28	-40	-40	-41	-36	-37	-46	-58
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	45.63	43.98	42.22	40.69	39.15	36.59	34.53	29.77	30.56	32.12	31.6	23.37	21.79	23.42	25.28
Long-Term Debt/Equity (%)	7.54	7.6	10.43	15.46	14.83	6.85	21.08	22.98	23.35	20.48	19.04	27.61	37.98	30.19	24.28
Long-Term Debt/Capital (%)	7.01	7.06	9.44	13.42	12.84	5.79	17.41	18.69	18.93	17	15.99	21.64	27.52	23.19	19.53
Long-Term Debt/Total Assets (%)	3.44	3.34	4.4	6.3	5.83	2.51	7.28	6.84	7.13	6.58	6.02	6.45	8.28	7.07	6.14
Total Debt/Equity (%)	7.54	7.6	10.43	15.46	15.93	18.26	21.08	22.98	23.35	20.48	19.04	27.61	37.98	30.19	24.28
Total Debt/Capital (%)	7.01	7.06	9.44	13.42	13.8	15.44	17.41	18.69	18.93	17	15.99	21.64	27.52	23.19	19.53
Total Debt/Total Assets (%)	3.44	3.34	4.4	6.3	6.27	6.68	7.28	6.84	7.13	6.58	6.02	6.45	8.28	7.07	6.14
CFO/Total Liabilities	7.16	6.31	8.42	9.05	6.78	9.61	10.22	10.05	12.71	14.1	10.83	7.06	8.15	16.3	15.22
CFO/CapEx	8.77	9.76	11.24	9.47	9.46	17.18	17.56	13.71	12.96	15.16	12.1	9.93	12.31	22.48	18.61
Altman's Z-Score	1.7	1.6	1.65	1.66	1.56	1.64	1.53	1.37	1.41	1.38	1.36	1.09	1.16	1.32	1.41

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	9.75	8.78	7.93	7.97	7.28	7.1	6.81	5.17	5.44	5.73	6.15	5.82	7.55	8.09	7.61
Days Sales Outstanding	37.44	41.58	46.03	45.82	50.13	51.4	53.58	70.55	67.06	63.71	59.33	62.76	48.32	45.1	47.95
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	1,365	1,260	1,672	2,004	1,732	2,346	2,179	2,217	2,190	2,484	2,638	1,778	2,020	3,681	5,210
- Cash & Cash Equivalents	211	158	267	290	264	220	291	314	294	348	336	290	551	720	1,316
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	140	140	190	290	290	320	371	372	420	416	408	420	588	588	587
Enterprise Value	1,057	948	1,280	1,632	1,572	2,070	1,957	2,021	1,821	2,177	2,570	1,786	1,879	3,265	4,144
Total Capital	1,997	1,982	2,012	2,162	2,102	2,072	2,133	1,989	2,220	2,449	2,548	1,942	2,136	2,534	3,004
Total Debt/Capital (%)	7.01	7.06	9.44	13.42	13.8	15.44	17.41	18.69	18.93	17	15.99	21.64	27.52	23.19	19.53
Total Debt / EV	0.13	0.15	0.15	0.18	0.18	0.15	0.19	0.18	0.23	0.19	0.16	0.24	0.31	0.18	0.14
EV/Sales	0.38	0.34	0.45	0.54	0.52	0.64	0.57	0.6	0.46	0.58	0.64	0.49	0.41	0.6	0.69
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	6.49	6.34	6.07	6.57	8.12	7	5.52	5.23	3.41	3.51	4.98	4.88	3.94	3.07	3.73
EV/Free Cash Flow to Firm	5.84	5.76	5.58	5.95	7.36	6.62	5.23	4.87	3.17	3.3	4.61	4.45	3.66	2.95	3.55
Diluted Market Cap	1,366	1,261	1,673	2,005	1,734	2,349	2,180	2,217	2,190	2,484	2,639	1,778	2,020	3,681	5,210
Diluted Enterprise Value	1,294	1,243	1,596	2,005	1,759	2,448	2,260	2,274	2,316	2,552	2,711	1,908	2,057	3,549	4,481
EV per Share	19.29	17.26	23.29	29.67	28.51	37.47	35.37	36.52	32.9	39.32	46.42	32.25	33.93	58.96	74.82
TTM Sales	2,777	2,783	2,821	3,012	3,009	3,228	3,416	3,380	3,973	3,785	3,993	3,643	4,630	5,476	5,992
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	163	149	211	248	194	296	355	387	534	620	516	366	476	1,062	1,111
TTM Free Cash Flow to Firm	181	165	230	274	214	313	374	415	574	659	557	401	513	1,108	1,169

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	7.73	7.72	7.32	7.36	8.24	7.61	6.04	5.39	3.91	3.85	4.86	4.58	4.12	3.4	4.55
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	1,057	948	1,280	1,632	1,572	2,070	1,957	2,021	1,821	2,177	2,570	1,786	1,879	3,265	4,144
Low Price	33.81	36.01	36.03	41.7	45.12	42.97	51.87	41.4	46.69	33.45	50.37	27.89	26.15	36.96	44.19
EV/Sales	0.38	0.34	0.45	0.54	0.52	0.64	0.57	0.6	0.46	0.58	0.64	0.49	0.41	0.6	0.69
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	7.14	10.78	14.91	11.26	23.25	32.12	15.04	- -	6.84	6.63	10.64	- -	20.97	7.87	9.63
Price/Earnings Average	6.11	10.98	12.77	9.48	26.3	27.78	15.64	-362.51	7.36	5.34	11.43	-4.26	17.7	6.69	7.04
Price/Earnings High	13.37	21.96	24.99	18.45	44.66	46.28	24.63	-597.31	11.28	8.23	15.16	-6.15	23.17	9.55	9.88
Price/Earnings Low	9.7	16.91	17.65	12.89	33.41	32.5	19.8	-399.94	8.07	4.94	11.25	-3.01	15.03	4.37	4.52
Price/Book Value	0.74	0.68	0.92	1.07	0.96	1.34	1.24	1.37	1.22	1.22	1.23	1.17	1.3	1.89	2.16
Price/Book Value Average	0.63	0.7	0.79	0.9	1.08	1.16	1.29	1.28	1.31	0.98	1.32	1.43	1.1	1.61	1.58
Price/Book Value High	1.38	1.39	1.54	1.75	1.84	1.93	2.03	2.11	2.01	1.52	1.76	2.07	1.44	2.3	2.21
Price/Book Value Low	1	1.07	1.09	1.23	1.37	1.35	1.63	1.42	1.44	0.91	1.3	1.01	0.94	1.05	1.01
Price/Tangible Book Value	0.78	0.72	0.96	1.12	0.99	1.39	1.28	1.42	1.25	1.26	1.26	1.21	1.35	1.94	2.2
Price/Tangible Book Value Average	0.66	0.73	0.82	0.94	1.12	1.2	1.33	1.33	1.35	1.01	1.36	1.48	1.14	1.65	1.61
Price/Tangible Book Value High	1.45	1.47	1.61	1.83	1.9	2.01	2.1	2.19	2.07	1.56	1.8	2.14	1.49	2.36	2.26
Price/Tangible Book Value Low	1.05	1.13	1.14	1.28	1.43	1.41	1.69	1.47	1.48	0.94	1.34	1.05	0.97	1.08	1.03
Price/Sales	0.49	0.45	0.59	0.67	0.58	0.73	0.64	0.66	0.55	0.66	0.66	0.49	0.44	0.67	0.87
Price/Sales Average	0.42	0.46	0.51	0.56	0.65	0.63	0.66	0.61	0.59	0.53	0.71	0.6	0.37	0.57	0.64
Price/Sales High	0.92	0.92	0.99	1.09	1.11	1.05	1.04	1.01	0.91	0.81	0.94	0.87	0.48	0.82	0.89
Price/Sales Low	0.67	0.71	0.7	0.76	0.83	0.74	0.84	0.68	0.65	0.49	0.7	0.42	0.31	0.37	0.41
Price/Cash Flow	8.61	8.51	7.97	8.13	9.1	8.04	6.38	5.78	4.21	4.1	5.26	5.04	4.46	3.55	4.79
Price/Cash Flow Average	7.37	8.67	6.83	6.84	10.29	6.96	6.63	5.42	4.53	3.3	5.65	6.19	3.76	3.02	3.5
Price/Cash Flow High	16.12	17.34	13.36	13.32	17.48	11.59	10.45	8.92	6.95	5.09	7.49	8.94	4.93	4.31	4.92
Price/Cash Flow Low	11.69	13.35	9.44	9.3	13.08	8.14	8.4	5.97	4.97	3.06	5.56	4.38	3.2	1.97	2.25
Price/Free Cash Flow Average	6.62	7.87	6.27	6.19	9.32	6.58	6.28	5.05	4.21	3.1	5.22	5.62	3.48	2.89	3.32
Price/Free Cash Flow High	14.47	15.73	12.27	12.05	15.83	10.96	9.89	8.32	6.45	4.78	6.92	8.12	4.56	4.13	4.67
Price/Free Cash Flow Low	10.5	12.12	8.67	8.42	11.84	7.7	7.95	5.57	4.62	2.87	5.14	3.98	2.96	1.89	2.14
EV/Sales Average	0.39	0.45	0.48	0.56	0.66	0.66	0.69	0.63	0.62	0.55	0.73	0.63	0.38	0.55	0.51
EV/Sales High	0.89	0.92	0.97	1.09	1.11	1.08	1.07	1.03	0.94	0.83	0.96	0.9	0.49	0.79	0.77
EV/Sales Low	0.64	0.7	0.67	0.76	0.84	0.77	0.86	0.69	0.68	0.51	0.72	0.46	0.32	0.35	0.29
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	24.9	22.96	30.43	36.44	31.4	42.47	39.4	40.06	39.56	44.88	47.65	32.11	36.48	66.48	94.06
High Price	46.61	46.76	51	59.68	60.31	61.19	64.52	61.83	65.22	55.71	67.88	56.94	40.32	80.72	96.5
Enterprise Value Average	1,097	1,265	1,356	1,688	1,984	2,129	2,345	2,134	2,480	2,067	2,906	2,313	1,742	2,999	3,080
Enterprise Value High	2,484	2,549	2,726	3,283	3,352	3,480	3,649	3,479	3,736	3,152	3,830	3,283	2,270	4,337	4,616
Enterprise Value Low	1,782	1,959	1,903	2,294	2,514	2,474	2,949	2,348	2,710	1,920	2,861	1,675	1,485	1,914	1,719

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55
Diluted Weighted Avg Shares	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55
Basic Weighted Avg Shares	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55
Revenue per Share	50.66	50.7	51.34	54.75	54.56	58.42	61.75	61.08	71.77	68.36	72.12	65.79	83.61	98.89	108.19
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	3.49	2.13	2.04	3.23	1.35	1.32	2.62	-0.1	5.78	6.77	4.48	-9.26	1.74	8.45	9.77
Basic EPS from Cont Ops	3.49	2.13	2.04	3.23	1.35	1.32	2.62	-0.1	5.78	6.77	4.48	-9.26	1.74	8.45	9.77
Diluted EPS, GAAP	3.49	2.13	2.04	3.23	1.35	1.32	2.62	-0.1	5.78	6.77	4.48	-9.26	1.74	8.45	9.77
Diluted EPS from Cont Ops	3.49	2.13	2.04	3.23	1.35	1.32	2.62	-0.1	5.78	6.77	4.48	-9.26	1.74	8.45	9.77
Dividend per Share	2.41	2.44	2.45	2.46	2.47	2.48	2.49	2.5	2.51	2.52	2.53	1.91	1.27	1.27	1.27
Cash Flow per Share	2.89	2.7	3.82	4.48	3.45	5.28	6.17	6.93	9.39	10.94	9.06	6.37	8.18	18.73	19.63
Free Cash Flow per Basic Share	2.56	2.42	3.48	4.01	3.08	4.97	5.82	6.42	8.66	10.22	8.31	5.73	7.52	17.9	18.57
Cash & Equivalents per Share	8.17	8.25	10.6	12.04	8.15	10.79	10.74	10.26	14.25	13.08	8.59	7.45	13.17	18.13	29.84
Book Value per Share	33.87	33.56	33.16	34.02	32.85	31.72	31.84	29.23	32.51	36.72	38.66	27.49	27.96	35.15	43.64
Tangible Book Value per Share	32.12	31.92	31.63	32.67	31.66	30.48	30.69	28.18	31.55	35.74	37.7	26.55	27.04	34.24	42.75

Mercury General Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)