ACGL
Arch Capital Group Ltd.Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $8.92B | $9.66B | $13.29B | $17.44B | $19.93B | $17.07B | $17.48B | $18.6B |
| Cost of revenue | $5.89B | $6.77B | $8.56B | $10.99B | $12.52B | $11.13B | $11.27B | $12.07B |
| Gross profit | $3.04B | $2.89B | $4.74B | $6.45B | $7.41B | $6.4B | $6.53B | $6.63B |
| Gross margin | +34.02% | +29.92% | +35.63% | +36.97% | +37.16% | +37.52% | +37.36% | +35.65% |
| Operating | ||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $78M | $95M | $102M | $1.67B | $0 | $574.99M | $593.41M | $660M |
| Total operating expenses | $1.3B | $1.52B | $1.63B | $1.97B | $2.43B | $2.07B | $2.09B | $2.2B |
| Operating income | $1.74B | $1.37B | $3.11B | $4.47B | $4.98B | $4.18B | $4.24B | $4.54B |
| Operating margin | +19.46% | +14.21% | +23.37% | +25.65% | +24.98% | +24.47% | +24.25% | +24.41% |
| EBITDA | $2.32B | $1.72B | $3.61B | $4.85B | $5.35B | $4.73B | $4.88B | $5.07B |
| EBIT | $2.24B | $1.62B | $3.52B | $4.62B | $5.16B | $4.59B | $4.6B | $4.8B |
| Below the line | ||||||||
| Interest expense | $139M | $131M | $133M | $141M | $148M | $147.06M | $150.79M | $162.42M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | $630M | $190M | $462M | $200M | $180M | — | — | — |
| Pre-tax income | $2.37B | $1.56B | $3.57B | $4.67B | $5.16B | $4.41B | $4.75B | $4.97B |
| Income tax expense | $128M | $80M | -$873M | $362M | $760M | $494.15M | $533.72M | $561.58M |
| Earnings | ||||||||
| Net income | $2.16B | $1.48B | $4.44B | $4.31B | $4.4B | $4.09B | $4.27B | $4.65B |
| Net income · continuing ops | $2.24B | $1.48B | $4.44B | $4.31B | $4.4B | $4.49B | $4.75B | $4.9B |
| Net margin | +24.17% | +15.28% | +33.42% | +24.72% | +22.07% | +23.96% | +24.40% | +24.99% |
| EPS · basic | $5.34 | $3.90 | $11.94 | $11.47 | $11.84 | $9.52 | $10.27 | $10.97 |
| EPS · diluted | $5.23 | $3.80 | $11.62 | $11.19 | $11.62 | $9.29 | $9.93 | $10.70 |
| EPS · low estimate | — | — | — | — | — | $8.92 | $9.18 | $9.94 |
| EPS · high estimate | — | — | — | — | — | $9.55 | $10.42 | $12.06 |
| Shares · basic | 391.75M | 368.61M | 368.7M | 372.5M | 369M | 367.53M | 366.37M | 368.83M |
| Shares · diluted | 400.35M | 377.61M | 378.8M | 381.8M | 376.1M | 377.12M | 377.59M | 379.27M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 6 | 6 | 3 |
| Analysts (EPS) | — | — | — | — | — | 12 | 12 | 3 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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