Mercury General Corporation (MCY) Key Metrics
MCY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.69B
- Enterprise value
- $4.69B
- P/E (TTM)
- 6.1 10-yr median 10.7
- Forward P/E
- 19.8
- PEG ratio
- 1.11
- Price / sales
- 0.9 10-yr median 0.7
- Price / book
- 1.9 10-yr median 1.6
- EV / EBITDA
- — 10-yr median 7.3
- Dividend yield
- 1.24% $1.27 a year
- Beta
- 0.91
MCY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMCY valuation Price multiples at each fiscal year-end price.
MCY returns How much profit the business earns on the capital it uses.
MCY per-share figures Results divided by the shares outstanding at year-end.
MCY financial health Debt, liquidity and how easily interest is covered.
MCY efficiency & capital use Working capital cycle and where the cash goes.
MCY valuation history
MCY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MCY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MCY cash returned to shareholders
MCY price vs earnings per share
MCY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $5.21B | $3.68B | $2.07B | $1.89B | $2.94B | $2.89B | $2.70B | $2.86B | $2.96B | $3.33B |
| Enterprise value | $4.14B | $3.27B | $1.92B | $1.90B | $2.87B | $2.58B | $2.33B | $2.67B | $3.11B | $3.07B |
| P/E ratio | 9.6 | 7.9 | 21.4 | — | 11.9 | 7.7 | 8.4 | — | 20.4 | 45.6 |
| Price / sales | 0.9 | 0.7 | 0.4 | 0.5 | 0.7 | 0.8 | 0.7 | 0.8 | 0.9 | 1.0 |
| Price / book | 2.2 | 1.9 | 1.3 | 1.2 | 1.4 | 1.4 | 1.5 | 1.8 | 1.7 | 1.9 |
| Price / free cash flow | 5.1 | 3.7 | 5.0 | 6.0 | 6.4 | 5.1 | 5.6 | 8.0 | 9.2 | 12.3 |
| Price / operating cash flow | 4.8 | 3.5 | 4.6 | 5.4 | 5.9 | 4.8 | 5.2 | 7.5 | 8.7 | 11.6 |
| EV / sales | 0.7 | 0.6 | 0.4 | 0.5 | 0.7 | 0.7 | 0.6 | 0.8 | 0.9 | 1.0 |
| EV / EBITDA | 5.4 | 4.8 | 9.8 | — | 7.3 | 4.7 | 5.1 | 59.0 | 13.1 | 24.0 |
| EV / free cash flow | 4.0 | 3.3 | 4.6 | 6.0 | 6.2 | 4.6 | 4.9 | 7.5 | 9.6 | 11.4 |
| Earnings yield | 10.4% | 12.7% | 4.7% | −27.1% | 8.4% | 13.0% | 11.9% | −0.2% | 4.9% | 2.2% |
| Free cash flow yield | 19.7% | 26.9% | 20.1% | 16.7% | 15.7% | 19.6% | 17.8% | 12.4% | 10.9% | 8.1% |
| Dividend yield | 1.4% | 1.9% | 3.4% | 5.6% | 4.8% | 4.8% | 5.2% | 4.8% | 4.7% | 4.1% |
| Shareholder yield (dividends + buybacks) | 1.4% | 1.9% | 3.4% | 5.6% | 4.8% | 4.8% | 5.2% | 4.8% | 4.7% | 4.2% |
| Share price at fiscal year-end | $94.06 | $66.48 | $37.31 | $34.20 | $53.06 | $52.21 | $48.73 | $51.71 | $53.44 | $60.21 |
| Per share | ||||||||||
| Revenue per share | $108.19 | $98.88 | $83.61 | $65.79 | $72.12 | $68.36 | $71.76 | $61.08 | $61.74 | $58.36 |
| Earnings per share | $9.77 | $8.45 | $1.74 | −$9.26 | $4.48 | $6.77 | $5.78 | −$0.10 | $2.62 | $1.32 |
| Operating cash flow per share | $19.63 | $18.73 | $8.18 | $6.37 | $9.06 | $10.94 | $9.39 | $6.93 | $6.17 | $5.20 |
| Free cash flow per share | $18.57 | $17.90 | $7.52 | $5.73 | $8.31 | $10.22 | $8.66 | $6.42 | $5.82 | $4.89 |
| Cash per share | $29.84 | $18.13 | $13.17 | $7.45 | $8.59 | $13.08 | $14.24 | $10.26 | $10.74 | $10.78 |
| Book value per share | $43.64 | $35.15 | $27.96 | $27.49 | $38.65 | $36.72 | $32.51 | $29.23 | $31.84 | $31.69 |
| Tangible book value per share | $36.25 | $34.24 | $27.04 | $26.55 | $37.69 | $35.74 | $31.54 | $28.18 | $30.69 | $30.45 |
| Dividends per share | $1.27 | $1.27 | $1.27 | $1.91 | $2.53 | $2.52 | $2.51 | $2.50 | $2.49 | $2.48 |
| Capex per share | $1.05 | $0.83 | $0.66 | $0.64 | $0.75 | $0.72 | $0.72 | $0.51 | $0.35 | $0.31 |
| Debt per share | $10.60 | $10.61 | $10.62 | $7.59 | $7.36 | $7.52 | $7.59 | $6.72 | $13.44 | $6.15 |
| Shares outstanding | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.4M | 55.3M | 55.3M | 55.3M |
| Change in shares outstanding | +0.0% | +0.0% | 0.0% | −0.0% | +0.0% | −0.0% | +0.0% | +0.0% | +0.0% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 24.8% | 26.8% | 6.3% | −28.0% | 11.9% | 19.6% | 18.7% | −0.3% | 8.2% | 4.1% |
| Return on invested capital (ROIC) | 37.6% | 31.9% | 6.6% | −29.4% | 13.1% | 23.7% | 22.4% | −1.5% | 8.5% | 4.1% |
| Return on assets (ROA) | 6.1% | 6.1% | 1.4% | −7.7% | 3.8% | 6.1% | 5.7% | −0.1% | 2.9% | 1.6% |
| Return on tangible assets | 5.9% | 5.7% | 1.4% | −7.9% | 3.7% | 6.0% | 5.5% | −0.1% | 2.9% | 1.5% |
| Free cash flow margin | 17.2% | 18.1% | 9.0% | 8.7% | 11.5% | 14.9% | 12.1% | 10.5% | 9.4% | 8.4% |
| Income quality (OCF / net income) | 2.01 | 2.22 | 4.70 | — | 2.02 | 1.62 | 1.62 | — | 2.36 | 3.94 |
| Financial health | ||||||||||
| Total debt | $586.9M | $587.7M | $588.0M | $420.3M | $407.5M | $416.4M | $420.1M | $371.7M | $743.9M | $340.0M |
| Cash & short-term investments | $1.65B | $1.00B | $729.4M | $412.7M | $475.7M | $724.1M | $788.5M | $567.6M | $594.1M | $596.0M |
| Net debt | −$1.07B | −$416.4M | −$141.4M | $7.5M | −$68.2M | −$307.7M | −$368.4M | −$195.9M | $149.7M | −$256.0M |
| Debt / equity | 0.24 | 0.30 | 0.38 | 0.28 | 0.19 | 0.20 | 0.23 | 0.23 | 0.42 | 0.19 |
| Debt / assets | 0.06 | 0.07 | 0.08 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.15 | 0.07 |
| Net debt / EBITDA | −1.39 | −0.61 | −0.72 | — | −0.17 | −0.57 | −0.80 | −4.33 | 0.63 | −2.00 |
| 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 | 68.00 | 17.80 | 11.21 | 0.70 | 57.72 | 21.21 | 24.06 | 41.94 | 259.18 |
| Interest coverage | 23.2 | 18.7 | 4.1 | -38.9 | 17.5 | 26.9 | 22.2 | -1.8 | 11.0 | 17.9 |
| Working capital | −$3.70B | $1.39B | $1.16B | $772.0M | −$2.76B | $1.32B | $1.34B | $1.27B | $532.9M | $586.0M |
| Invested capital | $1.35B | $1.53B | $1.41B | $1.53B | $2.07B | $1.72B | $1.43B | $1.42B | $1.91B | $1.50B |
| Tangible asset value | $2.01B | $1.90B | $1.50B | $1.47B | $2.09B | $1.98B | $1.75B | $1.56B | $1.70B | $1.68B |
| Net current asset value | −$4.48B | −$4.95B | −$4.22B | −$4.01B | −$3.42B | −$2.92B | −$2.60B | −$2.43B | −$2.75B | −$2.44B |
| Graham number | $97.94 | $81.75 | $33.08 | — | $62.40 | $74.77 | $65.03 | — | $43.31 | $30.69 |
| Graham net-net per share | −$85.39 | −$86.21 | −$94.32 | −$85.88 | −$79.88 | −$70.22 | −$64.31 | −$60.04 | −$59.36 | −$55.52 |
| Capital allocation | ||||||||||
| Dividends paid | $70.3M | $70.3M | $70.3M | $105.5M | $140.2M | $139.6M | $139.1M | $138.5M | $137.9M | $137.2M |
| Share buybacks (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.3M |
| Dividend payout ratio | 13.0% | 15.0% | 73.0% | — | 56.6% | 37.3% | 43.4% | — | 95.2% | 187.8% |
| Dividends + buybacks / free cash flow | 6.8% | 7.1% | 16.9% | 33.3% | 30.5% | 24.7% | 29.0% | 39.0% | 42.8% | 51.9% |
| Capex / revenue | 1.0% | 0.8% | 0.8% | 1.0% | 1.0% | 1.1% | 1.0% | 0.8% | 0.6% | 0.5% |
| Capex / operating cash flow | 5.4% | 4.4% | 8.1% | 10.1% | 8.3% | 6.6% | 7.7% | 7.3% | 5.7% | 5.9% |
| Capex / depreciation | 0.78 | 0.63 | 0.51 | 0.43 | 0.52 | 0.58 | 0.62 | 0.48 | 0.35 | 0.64 |
| Stock-based compensation / revenue | — | 0.1% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | — | 0.7% | 0.5% | 0.8% | 1.7% | 1.5% | 1.5% | 2.4% | 2.2% | 2.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 54.7 | 48.2 | 52.1 | 67.5 | 61.1 | 64.5 | 69.4 | 76.6 | 57.8 | 53.8 |
| Days of inventory on hand | — | — | -135.1 | -132.0 | -170.4 | -190.6 | -161.8 | -194.4 | -240.9 | -124.2 |
| Days payables outstanding | 31.8 | 16.8 | 14.1 | 14.6 | 19.6 | 20.4 | 14.3 | 12.9 | 13.4 | 14.7 |
| Cash conversion cycle (days) | 22.9 | 31.4 | -97.1 | -79.1 | -128.9 | -146.4 | -106.6 | -130.7 | -196.5 | -85.1 |
| Receivables turnover | 6.67 | 7.58 | 7.00 | 5.41 | 5.97 | 5.66 | 5.26 | 4.76 | 6.31 | 6.79 |
| Payables turnover | 11.47 | 21.77 | 25.86 | 25.04 | 18.67 | 17.90 | 25.61 | 28.20 | 27.20 | 24.84 |
| Asset turnover | 0.67 | 0.71 | 0.68 | 0.55 | 0.61 | 0.62 | 0.70 | 0.64 | 0.69 | 0.69 |
| Average receivables | $898.1M | $722.4M | $660.9M | $673.5M | $668.4M | $669.2M | $755.6M | $709.7M | $541.1M | $475.7M |
| Average payables | $345.4M | $208.7M | $163.5M | $160.4M | $181.8M | $168.9M | $129.2M | $111.7M | $110.3M | $117.5M |
| Average inventory | — | — | −$1.56B | −$1.45B | −$1.58B | −$1.58B | −$1.47B | −$1.68B | −$1.98B | −$993.0M |
| Intangibles / total assets | 4.3% | 0.6% | 0.7% | 0.8% | 0.8% | 0.9% | 0.9% | 1.1% | 1.2% | 1.4% |
Computed from MCY's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MCY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Mercury General traded at 9.6 times earnings, against a 10-year median of 10.7. Based on the latest twelve months, the trailing P/E is 6.1 and the forward P/E is 19.8. Mercury General earned a return on equity of 24.8% and a return on invested capital of 37.6% in fiscal 2025. It ended the year with $586.9 million of debt and $1.7 billion in cash and short-term investments, a net cash position of $1.1 billion. It returned $70.3 million to shareholders: $70.3 million in dividends and $0 in share buybacks, 7% of free cash flow.
See the MCY income statement, the MCY chart for price history, or the MCY stock overview for the latest quote and news.
MCY key metrics FAQ
What is Mercury General's P/E ratio?
Mercury General's trailing P/E ratio is 6.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.8. At the end of fiscal 2025 it was 9.6, compared with a 10-year median of 10.7.
What is Mercury General's EV/EBITDA?
Mercury General's enterprise value was 5.4 times EBITDA at the end of fiscal 2025 (enterprise value $4.1 billion, EBITDA $767.3 million).
What is Mercury General's return on equity?
Mercury General's return on equity (ROE) was 24.8% in fiscal 2025: net income of $541.1 million on average shareholders' equity of $2.2 billion.
What is Mercury General's ROIC?
Mercury General's return on invested capital was 37.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Mercury General have?
Mercury General had total debt of $586.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.24 and more cash than debt.
What is Mercury General's dividend yield?
Mercury General's forward dividend yield is 1.24%. Mercury General paid $70.3 million in dividends in fiscal 2025 ($1.27 per share), a payout ratio of 13.0%.
What is Mercury General's free cash flow yield?
Mercury General generated $1.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 19.7% on its market value at year-end ($5.2 billion).
What is Mercury General's current ratio?
Mercury General's current ratio was 0.42 at the end of fiscal 2025: current assets were 0.42 times current liabilities.