Mercury General Corporation (MCY) Balance Sheet
MCY balance sheet, 2025
December 31, 2025 · U.S. dollars$9.56B assets = $7.14B liabilities + $2.42B equity
Both columns are drawn to the same scale: what MCY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MCY financial health
Descriptive bands, not a rating. Fiscal 2025.
MCY balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.79B2016 | $9.56B2025 | +8.0%/yr | |
| Total liabilities | $3.04B2016 | $7.14B2025 | +10.0%/yr | |
| Shareholders’ equity | $1.75B2016 | $2.42B2025 | +3.6%/yr | |
| Cash & short-term investments | $596.0M2016 | $1.65B2025 | +12.0%/yr | |
| Total debt | $340.0M2016 | $586.9M2025 | +6.3%/yr | |
| Net cash (debt) | $256.0M2016 | $1.07B2025 | +$809.7M | |
| Working capital | $586.0M2016 | −$3.70B2025 | −$4.3B | |
| Book value per share | $31.692016 | $43.642025 | +3.6%/yr | |
| Debt / equity | 0.192016 | 0.242025 | +0.05 | |
| Shares outstanding | 55.3M2016 | 55.4M2025 | +0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MCY assets
MCY liabilities and equity
MCY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MCY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.65B | $1.00B | $729.4M | $412.7M | $475.7M | $724.1M | $788.5M | $567.6M | $594.1M | $596.0M |
| Cash & equivalents | $1.32B | $720.3M | $550.9M | $289.8M | $335.6M | $348.5M | $294.4M | $314.3M | $291.4M | $220.3M |
| Short-term investments | $337.0M | $283.8M | $178.5M | $122.9M | $140.1M | $375.6M | $494.1M | $253.3M | $302.7M | $375.7M |
| Receivables | $1.01B | $781.5M | $663.4M | $658.5M | $688.4M | $648.3M | $690.1M | $821.1M | $598.3M | $483.8M |
| Inventory | $0 | $0 | −$1.79B | −$1.34B | −$1.57B | −$1.60B | −$1.55B | −$1.38B | −$1.97B | −$1.99B |
| Other current assets | $0 | $0 | $1.73B | $1.25B | $1.61B | $1.60B | $1.56B | $1.38B | $1.38B | $1.50B |
| Total current assets | $2.67B | $1.41B | $1.33B | $978.8M | $1.21B | $1.37B | $1.49B | $1.39B | $594.1M | $596.0M |
| Property, plant & equipment (net) | $159.0M | $151.6M | $165.6M | $191.6M | $223.3M | $219.5M | $213.9M | $153.0M | $145.2M | $155.9M |
| Goodwill & intangible assets | $409.3M | $50.5M | $51.1M | $52.0M | $53.1M | $54.1M | $53.4M | $58.3M | $63.5M | $68.4M |
| Long-term investments | $6.58B | $6.08B | $5.23B | $4.91B | $5.14B | $4.73B | $4.31B | $3.77B | $3.73B | $3.55B |
| Other non-current assets | $0 | $621.2M | $327.0M | $380.9M | $146.1M | $0 | $0 | $65.6M | $565.7M | $420.8M |
| Total assets | $9.56B | $8.31B | $7.10B | $6.51B | $6.77B | $6.33B | $5.89B | $5.43B | $5.10B | $4.79B |
| Liabilities | ||||||||||
| Accounts payable | $448.7M | $242.1M | $175.2M | $151.7M | $169.1M | $194.4M | $143.3M | $115.1M | $108.3M | $112.3M |
| Short-term debt | $6.8M | $7.6M | $8.7M | $11.3M | $15.7M | $16.0M | $14.5M | $0 | $372.5M | $20.0M |
| Deferred revenue | $2.26B | — | −$8.7M | $42.9M | $1.52B | $178.4M | $28.0M | — | — | — |
| Total current liabilities | $6.37B | $20.8M | $175.2M | $206.8M | $3.97B | $51.6M | $143.3M | $115.1M | $61.3M | $10.0M |
| Long-term debt | $575.7M | $576.6M | $576.6M | $398.3M | $372.9M | $372.5M | $372.1M | $371.7M | $371.3M | $320.0M |
| Lease obligations | $12.3M | $13.6M | $14.2M | $21.9M | $34.6M | $43.8M | $48.0M | — | — | — |
| Other long-term liabilities | $199.0M | $5.77B | $5.03B | $4.65B | $290.3M | $3.87B | $76.0M | $0 | $2.91B | $2.71B |
| Total liabilities | $7.14B | $6.36B | $5.56B | $4.99B | $4.63B | $4.30B | $4.09B | $3.82B | $3.34B | $3.04B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $99.7M | $99.7M | $98.9M | $98.9M | $98.9M | $99.0M | $98.8M | $98.0M | $97.5M | $95.5M |
| Retained earnings (deficit) | $2.32B | $1.85B | $1.45B | $1.42B | $2.04B | $1.93B | $1.70B | $1.52B | $1.66B | $1.66B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $0 | — | — | — | — | $0 | $0 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $2.42B | $1.95B | $1.55B | $1.52B | $2.14B | $2.03B | $1.80B | $1.62B | $1.76B | $1.75B |
| Key figures | ||||||||||
| Total debt | $586.9M | $587.7M | $588.0M | $420.3M | $407.5M | $416.4M | $420.1M | $371.7M | $743.9M | $340.0M |
| Net cash (debt) | $1.07B | $416.4M | $141.4M | −$7.5M | $68.2M | $307.7M | $368.4M | $195.9M | −$149.7M | $256.0M |
| Working capital | −$3.70B | $1.39B | $1.16B | $772.0M | −$2.76B | $1.32B | $1.34B | $1.27B | $532.9M | $586.0M |
| Tangible book value | $2.01B | $1.90B | $1.50B | $1.47B | $2.09B | $1.98B | $1.75B | $1.56B | $1.70B | $1.68B |
| Book value per share | $43.64 | $35.15 | $27.96 | $27.49 | $38.65 | $36.72 | $32.51 | $29.23 | $31.84 | $31.69 |
| Shares outstanding | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.3M | 55.3M | 55.3M |
| Current ratio | 0.42 | 68.00 | 7.60 | 4.73 | 0.30 | 26.62 | 10.37 | 12.07 | 9.70 | 59.83 |
| Quick ratio | 0.42 | 86.04 | 7.95 | 5.18 | 0.29 | 26.62 | 10.32 | 12.07 | 19.47 | 108.39 |
| Debt / equity | 0.24 | 0.30 | 0.38 | 0.28 | 0.19 | 0.20 | 0.23 | 0.23 | 0.42 | 0.19 |
| Equity / assets | 25.3% | 23.4% | 21.8% | 23.4% | 31.6% | 32.1% | 30.6% | 29.8% | 34.5% | 36.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.07B | $1.79B | $1.65B | $1.73B | $1.40B | $1.49B | $1.00B | $905.0M | $757.2M | $692.6M | $729.4M | $665.7M |
| Cash & equivalents | $1.70B | $1.35B | $1.32B | $1.25B | $1.12B | $1.28B | $720.3M | $616.3M | $609.3M | $530.1M | $550.9M | $453.9M |
| Short-term investments | $368.4M | $441.8M | $337.0M | $472.9M | $281.8M | $208.1M | $283.8M | $288.7M | $147.9M | $162.5M | $178.5M | $211.8M |
| Receivables | $828.5M | $1.03B | $1.01B | $1.08B | $1.31B | $1.59B | $781.5M | $811.2M | $768.9M | $736.7M | $663.4M | $739.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$1.75B | −$1.46B | −$1.37B | −$1.79B | −$1.56B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.82B | $1.26B | $1.40B | $1.73B | $1.44B |
| Total current assets | $2.52B | $2.82B | $2.67B | $2.80B | $2.71B | $3.08B | $1.41B | $1.78B | $1.32B | $1.46B | $1.33B | $1.29B |
| Property, plant & equipment (net) | $188.5M | $163.0M | $159.0M | $160.3M | $161.3M | $159.3M | $151.6M | $149.9M | $148.2M | $166.8M | $165.6M | $166.5M |
| Goodwill & intangible assets | $49.2M | $416.0M | $409.3M | $412.7M | $399.2M | $386.7M | $50.5M | $392.1M | $50.9M | $51.1M | $51.1M | $51.3M |
| Long-term investments | $7.13B | $6.83B | $6.58B | $6.37B | $5.96B | $5.40B | $6.08B | $6.02B | $5.63B | $5.45B | $5.23B | $5.00B |
| Other non-current assets | $650.0M | $0 | $0 | $0 | $0 | $5.8M | $621.2M | $0 | $581.6M | $264.4M | $327.0M | $421.5M |
| Total assets | $10.54B | $9.87B | $9.56B | $9.37B | $9.08B | $9.03B | $8.31B | $8.15B | $7.73B | $7.40B | $7.10B | $6.92B |
| Liabilities | ||||||||||||
| Accounts payable | $422.8M | $394.4M | $448.7M | $422.4M | $468.3M | $172.4M | $242.1M | $231.5M | $203.6M | $178.1M | $175.2M | $166.8M |
| Short-term debt | — | — | $6.8M | $0 | $0 | $0 | $7.6M | $200.0M | $200.0M | $200.0M | $8.7M | $200.0M |
| Deferred revenue | — | $2.35B | $2.26B | $2.27B | $2.18B | $2.12B | — | $2.08B | −$198.5M | −$193.4M | −$8.7M | — |
| Total current liabilities | $2.9M | $6.47B | $6.37B | $6.37B | $6.30B | $6.09B | $20.8M | $5.61B | $2.95B | $2.84B | $175.2M | $75.3M |
| Long-term debt | $943.8M | $574.6M | $574.5M | $574.4M | $574.3M | $574.2M | $574.1M | $574.0M | $373.9M | $373.8M | $573.7M | $573.6M |
| Lease obligations | $18.4M | $12.7M | $12.3M | $13.7M | $15.8M | $17.9M | $13.6M | $14.1M | $14.2M | $14.4M | $14.2M | $19.0M |
| Other long-term liabilities | $6.76B | $236.8M | $200.1M | $192.3M | $235.9M | $546.6M | $5.77B | $5.72B | $5.70B | $5.42B | $4.98B | $4.90B |
| Total liabilities | $7.71B | $7.28B | $7.14B | $7.14B | $7.11B | $7.21B | $6.36B | $6.29B | $6.08B | $5.79B | $5.56B | $5.55B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $99.7M | $99.7M | $99.7M | $99.7M | $99.7M | $99.7M | $99.7M | $98.9M | $98.9M | $98.9M | $98.9M | $98.9M |
| Retained earnings (deficit) | $2.74B | $2.49B | $2.32B | $2.13B | $1.87B | $1.72B | $1.85B | $1.76B | $1.55B | $1.51B | $1.45B | $1.28B |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | $0 | $0 |
| Total shareholders' equity | $2.84B | $2.59B | $2.42B | $2.23B | $1.97B | $1.82B | $1.95B | $1.86B | $1.65B | $1.60B | $1.55B | $1.37B |
| Key figures | ||||||||||||
| Total debt | $962.1M | $587.3M | $586.9M | $588.1M | $590.2M | $592.1M | $587.7M | $588.1M | $588.1M | $588.3M | $588.0M | $773.6M |
| Net cash (debt) | $1.11B | $1.21B | $1.07B | $1.14B | $813.8M | $900.8M | $416.4M | $316.9M | $169.1M | $104.3M | $141.4M | −$107.9M |
| Working capital | $2.52B | −$3.65B | −$3.70B | −$3.57B | −$3.59B | −$3.01B | $1.39B | −$3.83B | −$1.63B | −$1.38B | $1.16B | $1.21B |
| Tangible book value | $2.79B | $2.17B | $2.01B | $1.82B | $1.57B | $1.43B | $1.90B | $1.47B | $1.60B | $1.55B | $1.50B | $1.32B |
| Book value per share | $51.20 | $46.76 | $43.64 | $40.30 | $35.56 | $32.87 | $35.15 | $33.63 | $29.78 | $28.97 | $27.96 | $24.82 |
| Shares outstanding | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M |
| Current ratio | 856.31 | 0.44 | 0.42 | 0.44 | 0.43 | 0.51 | 68.00 | 0.32 | 0.45 | 0.51 | 7.60 | 17.08 |
| Quick ratio | 983.27 | 0.44 | 0.42 | 0.44 | 0.43 | 0.51 | 86.04 | 0.31 | 0.52 | 0.50 | 7.95 | 18.67 |
| Debt / equity | 0.34 | 0.23 | 0.24 | 0.26 | 0.30 | 0.33 | 0.30 | 0.32 | 0.36 | 0.37 | 0.38 | 0.56 |
| Equity / assets | 26.9% | 26.2% | 25.3% | 23.8% | 21.7% | 20.2% | 23.4% | 22.8% | 21.3% | 21.7% | 21.8% | 19.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.
MCY financial position
At the end of fiscal 2025 (December 31, 2025), Mercury General had total assets of $9.6 billion (up 15.0% from a year earlier), total liabilities of $7.1 billion and shareholders' equity of $2.4 billion. It held $1.7 billion in cash and short-term investments against $586.9 million of debt, a net cash position of $1.1 billion. Its current ratio was 0.42. In the latest quarter (ended June 30, 2026) total assets were $10.5 billion and equity $2.8 billion.
Related: MCY income statement, MCY cash flow statement, MCY key metrics. See the MCY stock overview for the latest quote and news.
MCY balance sheet FAQ
What are Mercury General's total assets?
Mercury General reported total assets of $9.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $8.3 billion a year earlier.
How much debt does Mercury General have?
Mercury General had $586.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.24.
How much cash does Mercury General have?
Mercury General held $1.7 billion in cash and short-term investments at the end of fiscal 2025; with $586.9 million of debt that is net cash of $1.1 billion.
What is Mercury General's book value?
Mercury General's shareholders' equity (book value) was $2.4 billion at the end of fiscal 2025, or $43.64 per share.
What is Mercury General's current ratio?
Mercury General had current assets of $2.7 billion and current liabilities of $6.4 billion, a current ratio of 0.42 (current liabilities exceed current assets).
How much goodwill does Mercury General have?
Mercury General carried $409.3 million of goodwill and intangible assets, 4.3% of total assets, at the end of fiscal 2025.