Arch Capital Group Ltd. (ACGL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.46	$2.56	+4.1%	—	$4.5B	—
Q1 26	$2.46	$2.5	+1.6%	—	$4.4B	—
Q4 25	$2.98	$3.14	+5.4%	—	$4.8B	—
Q3 25	$2.43	$3.56	+46.5%	—	$5B	—
Q2 25	$2.3	$2.58	+12.2%	—	$5B	—
Q1 25	$1.31	$1.54	+17.6%	—	$4.6B	—
Q4 24	$1.8	$2.26	+25.6%	—	$4.5B	—
Q3 24	$1.95	$1.99	+2.1%	—	$4.5B	—
Q2 24	$2.21	$2.57	+16.3%	—	$4.1B	—
Q1 24	$2.09	$2.45	+17.2%	—	$3.9B	—
Q4 23	$2.01	$2.49	+23.9%	—	$3.8B	—
Q3 23	$1.61	$2.31	+43.5%	—	$3.3B	—
Q2 23	$1.58	$1.92	+21.5%	—	$3.1B	—
Q1 23	$1.45	$1.73	+19.3%	—	$3.1B	—
Q4 22	$1.34	$2.14	+59.7%	—	$3B	—
Q3 22	$0.17	$0.28	+64.7%	—	$2.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$11.8	—	—	$19.3B	—
FY24	—	$11.5	—	—	$16.9B	—
FY23	—	$11.9	—	—	$13.3B	—
FY22	—	$3.9	—	—	$9.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4.5B	$5.4B	$5.5B	$6.8B	$8.3B	$8.9B	$9.7B	$13.3B	$16.9B	$19.3B
YoY change	+11.9%	+20.6%	+1.96%	+23.9%	+22.3%	+7.62%	+8.21%	+37.7%	+27.4%	+14%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4.5B	5.4B	5.5B	6.8B	8.3B	8.9B	9.7B	13.3B	16.9B	19.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	81.7M	83.8M	79M	80.1M	82M	78M	95M	102M	—	—
Operating expenses	787.6M	852M	835.8M	961.2M	1.1B	1.2B	1.4B	1.5B	1.7B	2B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	56.4M	27.7M	17.5M	24.9M	26.8M	31M	-14M	58M	68M	271M
Pretax income	855.6M	757.3M	841.8M	1.8B	1.6B	2.1B	1.5B	3.4B	4.5B	5B
Income tax	31.4M	127.6M	114M	155.8M	111.8M	128M	80M	-873M	362M	760M
Net income	824.2M	629.7M	727.8M	1.7B	1.5B	2.2B	1.5B	4.4B	4.3B	4.4B
Net margin	18.5%	11.7%	13.3%	25%	17.7%	25.1%	15.3%	33.4%	25.5%	22.8%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	1.83	1.4	1.76	3.97	3.38	5.34	3.9	11.9	11.5	11.8
Diluted EPS	1.78	1.36	1.73	3.87	3.32	5.23	3.8	11.6	11.2	11.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.3B	3.8B	3.9B	4.1B	4.5B	4.5B	4.6B	5B	5B	4.8B	4.4B	4.5B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	20M	31M	—	—	—	—	—	—	—	—	—	—
Operating expenses	351M	394M	421M	386M	394M	462M	532M	503M	532M	386M	536M	522M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	1M	27M	26M	11M	13M	18M	51M	80M	72M	68M	54M	87M
Pretax income	741M	1.2B	1.2B	1.3B	1.1B	937M	678M	1.4B	1.5B	1.4B	1.1B	1.2B
Income tax	72M	-1.1B	101M	97M	98M	66M	121M	214M	215M	210M	98M	164M
Net income	723M	2.3B	1.1B	1.3B	988M	935M	574M	1.2B	1.4B	1.2B	1B	1.1B
Net margin	22%	61.6%	28.9%	31.2%	22.1%	20.8%	12.5%	24.9%	27.1%	26%	24%	23.5%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	1.93	6.29	2.99	3.38	2.62	2.48	1.51	3.3	3.63	3.42	2.94	3.05
Diluted EPS	1.88	6.12	2.92	3.3	2.56	2.42	1.48	3.23	3.56	3.35	2.88	3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.4B	—	10.8B	17.2B	14.5B	17.4B	23.1B	27.4B	34.4B	35.3B	32.4B
Enterprise value	-2.5B	—	-3.6B	173M	-5.4B	-2.3B	19.4B	22.1B	27.8B	26.5B	32.8B
Shares outstanding	362.4M	404.1M	404.3M	401.8M	403.1M	391.7M	368.6M	368.7M	372.5M	368.4M	368.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12.6	—	14.8	10.2	9.92	7.78	15.6	6.16	7.98	8.03	7.44
P/S	2.34	—	1.97	2.54	1.75	1.95	2.4	2.06	2.03	1.83	1.69
P/B	1.12	—	1.04	1.4	1.04	1.28	1.79	1.49	1.65	1.46	1.39
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	5.9
EV/Sales	-0.56	—	-0.67	0.03	-0.66	-0.25	2.01	1.66	1.64	1.37	1.71
Earnings yield	7.91%	—	6.74%	9.83%	10.1%	12.9%	6.4%	16.2%	12.5%	12.4%	13.4%
FCF yield	13.1%	—	14.2%	11.7%	19.6%	19.4%	16.3%	20.8%	19.2%	17.3%	13.3%
PEG	—	—	—	—	—	—	—	—	—	—	-0.98

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	26.6%
Net margin	18.5%	11.7%	13.3%	25%	17.7%	25.1%	15.3%	33.4%	25.5%	22.8%	24.4%
ROE	8.85%	6.15%	6.97%	13.7%	10.5%	16.5%	11.5%	24.2%	20.7%	18.2%	19.9%
ROA	—	—	—	—	—	—	—	—	6.08%	5.55%	4.12%
Return on tangible assets	—	—	—	—	—	—	—	—	6.32%	5.73%	5.58%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	0.59
Debt / equity	0.27	0.25	0.21	0.19	0.22	0.2	0.21	0.15	0.13	0.11	0.18
Debt / assets	—	—	—	—	—	—	—	—	0.04	0.03	0.05
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	-0.03
Interest coverage	13.9	7.45	7.99	16.3	11.9	16.1	12.4	26.5	32.7	34.6	34.2
Effective tax rate	3.67%	16.8%	13.5%	8.44%	7.17%	6.09%	5.38%	0%	8.09%	15.3%	13.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.3	13.3	13.5	16.9	20.6	22.8	26.2	36.1	45.4	52.4	54
EPS (basic)	1.83	1.4	1.76	3.97	3.38	5.34	3.9	11.9	11.5	11.8	11.8
EPS (diluted)	1.78	1.36	1.73	3.87	3.32	5.23	3.8	11.6	11.2	11.6	12.8
Book value per share	25.7	25.4	25.8	30.7	34.7	34.6	35.1	49.8	55.9	65.7	68.3
FCF per share	3.76	2.65	3.78	5	7.06	8.64	10.2	15.5	17.8	16.6	17.4
Cash per share	42.5	40.7	41.2	48.3	57	57.2	17.5	21.8	25	31.3	13.1
Capex per share	0.04	0.06	0.07	0.09	0.1	0.1	0.14	0.14	0.14	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.34%	0.43%	0.54%	0.56%	0.48%	0.46%	0.52%	0.39%	0.3%	—	—
Capex / operating cash flow	1.23%	4.06%	4.22%	2.28%	3.08%	2.28%	-500%	1.89%	1.49%	—	—
Payout ratio	3.41%	7.31%	5.72%	2.46%	2.84%	2.1%	2.7%	0.9%	44.2%	1.07%	0%
Dividend yield	0.27%	—	0.39%	0.24%	0.29%	0.27%	0.17%	0.15%	5.54%	0.13%	0.13%

Yield

—

trailing twelve months

Frequency

—

Last dividend

$5.00

ex-dividend Nov 18, 2024

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Nov 18, 2024	$5.00

Split history

Date	Ratio
Jun 21, 2018	3:1
May 12, 2011	3:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.3B	$3.8B	$3.9B	$4.1B	$4.5B	$4.5B	$4.6B	$5B	$5B	$4.8B	$4.4B	$4.5B
YoY change	+32.2%	+28.3%	+24.4%	+31.2%	+36%	+19%	+18.4%	+22.2%	+11%	+5.68%	-4.81%	-9.59%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	15.4B	16.4B	16.6B	19.4B	23B	22.4B	6.5B	8B	9.3B	11.5B
Receivables	4.9B	5.7B	6.3B	8.2B	8.6B	10.3B	11.9B	13.5B	16.1B	17.5B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	1.6B	1.3B	1.3B	1.5B	1.4B	1.9B	1.6B	1.5B	2.7B	2.4B
Total assets	—	—	—	—	—	—	—	—	70.9B	79.2B
Accounts payable	2B	2.3B	2.5B	2.8B	2.7B	3.4B	3.3B	3.8B	4.3B	4.6B
Short-term debt	756.6M	816.1M	455.7M	484.3M	155.7M	0	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	1.7B	1.7B	1.7B	1.9B	2.9B	2.7B	2.7B	2.7B	2.7B	2.7B
Total liabilities	—	—	—	—	—	—	—	—	50.1B	55B
Shareholders' equity	9.3B	10.2B	10.4B	12.3B	14B	13.6B	12.9B	18.4B	20.8B	24.2B
Total debt	2.5B	2.5B	2.2B	2.4B	3B	2.7B	2.7B	2.7B	2.7B	2.7B
Net debt	1.6B	1.9B	1.5B	1.6B	2.1B	1.9B	1.9B	1.8B	1.7B	1.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	25B	8B	8.8B	9.1B	10.3B	9.3B	10B	10.3B	11.2B	11.5B	12.2B	13B
Receivables	13.6B	13.5B	15.2B	15.8B	16.4B	16.1B	17.8B	18.4B	17.8B	17.5B	18.5B	19.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	739M	1.5B	778M	725M	1.5B	2.7B	1.3B	1.3B	1.3B	2.4B	1.2B	1.2B
Total assets	—	—	62.8B	65.5B	73.7B	70.9B	75.2B	78.8B	79.2B	79.2B	81.4B	85.2B
Accounts payable	4B	3.8B	4.4B	4.6B	4.7B	4.3B	4.9B	5.1B	4.9B	4.6B	5B	5.5B
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	4.3B
Total liabilities	—	—	43.4B	44.8B	51.4B	50.1B	53.6B	55.7B	55.5B	55B	57.3B	61.1B
Shareholders' equity	15.2B	18.4B	19.4B	20.7B	22.3B	20.8B	21.5B	23B	23.7B	24.2B	24.2B	24B
Total debt	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	4.3B
Net debt	1.9B	1.8B	1.7B	1.7B	1.7B	1.7B	1.5B	1.7B	1.7B	1.7B	1.8B	3.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	824.2M	629.7M	727.8M	1.7B	1.5B	2.2B	1.5B	4.4B	4.3B	4.4B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	56.6M	67.8M	55.8M	66.4M	71.3M	88M	88M	93M	133M	148M
Change in working capital	361.6M	-134.5M	-77.7M	-96.7M	-242.6M	-527M	-1.6B	-1.8B	-1B	484M
Operating cash flow	1.2B	563M	705.9M	1.7B	1.3B	1.8B	-10M	2.8B	3.4B	6.2B
Capital expenditure	-15.3M	-22.8M	-29.8M	-37.8M	-39.9M	-41M	-50M	-52M	-51M	—
Investing cash flow	-2.7B	-1.4B	-554M	-1.8B	-3B	-2.1B	-3.1B	-5.5B	-4.5B	-4B
Dividends paid	-28.1M	-46M	-41.6M	-41.6M	-41.6M	-47M	-40M	-40M	-1.9B	-47M
Share repurchases	-80.1M	-251M	-382.9M	-2.9M	-83.5M	-1.7B	-586M	-2M	-24M	-1.9B
Financing cash flow	1.6B	-3.4M	-988.8M	-80.7M	602.5M	-1.2B	-706M	-69M	-1.9B	-1.9B
Net change in cash	174.6M	-820M	-836.9M	-224.1M	-1.1B	-1.6B	-3.8B	-2.8B	-3B	290M
Free cash flow	1.4B	1.1B	1.5B	2B	2.8B	3.4B	3.8B	5.7B	6.6B	6.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	723M	2.3B	1.1B	1.3B	988M	935M	574M	1.2B	1.4B	1.2B	1B	1.1B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	15M	20M	68M	16M	16M	33M	74M	25M	25M	24M	82M	15M
Change in working capital	353M	-822M	-722M	-515M	184M	20M	-360M	-470M	795M	519M	-779M	-87M
Operating cash flow	1.1B	1.5B	466M	770M	1.2B	988M	288M	792M	2.2B	1.4B	1.2B	1.3B
Capital expenditure	-11M	-15M	-15M	-11M	-12M	-13M	-9M	-12M	—	—	—	—
Investing cash flow	-1.9B	-1.5B	-1.4B	-1.5B	-2.8B	420M	-1B	-1.2B	-1.4B	-406M	-631M	-1.5B
Dividends paid	-10M	-10M	-10M	-10M	-10M	-1.9B	-15M	-12M	-10M	-10M	-15M	-10M
Share repurchases	0	-2M	-32M	24M	6M	-22M	-224M	-135M	-732M	-798M	-800M	-1.1B
Financing cash flow	-12M	-17M	-42M	14M	-4M	-1.9B	-241M	-147M	-743M	-778M	-827M	-1.2B
Net change in cash	-852M	5M	-985M	-725M	-1.6B	-489M	-961M	-583M	72M	220M	-270M	-1.4B
Free cash flow	2B	1.6B	1.5B	1.5B	2B	1.6B	1.4B	1.1B	2.2B	1.4B	1.2B	1.3B

Arch Capital Group Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement