Arch Capital Group Ltd.

ACGL · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995
Valuation
Market cap	$34,783	$34,746	$27,715	$23,221	$17,164	$13,928	$16,561	$10,317	$12,229	$10,422	$8,495	$7,731	$7,842	$5,917	$4,923	$4,417	$4,262	$4,354	$4,997	$4,948	$1,934	$1,221	$1,047	$626	$331	$198	$215	$372	$379	$331	$386
Enterprise value	$25,969	$28,166	$22,396	$19,446	$12,749	($4,339)	$726	($3,342)	($825)	($1,637)	($1,664)	($3,300)	($3,239)	($4,929)	($5,298)	$3,795	$3,973	$4,023	$2,854	$3,082	$436	$1,253	$1,161	$54	($156)	$89	$133	$251	$280	$224	–
P/E (TTM) at period end	7.98×	8.13×	6.29×	16.17×	8.20×	10.21×	10.39×	14.46×	21.59×	15.68×	16.47×	9.52×	11.40×	10.61×	12.00×	5.41×	5.01×	16.42×	5.82×	6.94×	7.54×	3.85×	3.73×	10.61×	15.03×	–	–	120.25×	185.70×	80.62×	385.50×
P/S (TTM) at period end	1.75×	1.99×	2.03×	2.42×	1.86×	1.64×	2.39×	1.89×	2.17×	2.33×	2.16×	1.94×	2.22×	1.70×	1.61×	1.36×	1.22×	1.47×	1.45×	1.43×	0.61×	0.39×	0.45×	0.87×	4.33×	1.55×	0.62×	1.50×	3.13×	6.58×	77.10×
P/B at period end	1.44×	1.67×	1.51×	1.80×	1.27×	1.06×	1.44×	1.09×	1.33×	1.26×	1.38×	1.27×	1.39×	1.14×	1.07×	0.98×	0.99×	1.27×	1.24×	1.38×	0.78×	0.54×	0.61×	0.44×	0.32×	0.73×	0.62×	0.93×	0.94×	0.94×	1.13×
EV / EBITDA (TTM)	4.77×	5.90×	6.10×	11.99×	6.65×	(2.34×)	0.35×	(3.35×)	(0.74×)	(1.91×)	(3.06×)	–	–	–	–	–	–	–	3.36×	4.27×	0.31×	0.75×	0.79×	10.58×	–	–	–	–	–	–	–
EV / Sales (TTM)	1.30×	1.62×	1.64×	2.02×	1.38×	(0.51×)	0.10×	(0.61×)	(0.15×)	(0.37×)	(0.42×)	(0.83×)	(0.92×)	(1.42×)	(1.73×)	1.17×	1.13×	1.36×	0.83×	0.89×	0.14×	0.40×	0.50×	0.07×	(2.04×)	0.70×	0.38×	1.01×	2.32×	4.47×	–
Returns
Return on equity	18.0%	20.5%	24.0%	11.1%	15.5%	10.4%	13.9%	7.6%	6.2%	8.1%	8.4%	13.3%	12.2%	10.8%	8.9%	18.1%	19.7%	7.7%	21.3%	19.9%	10.3%	14.1%	16.4%	4.2%	2.2%	(2.9%)	(9.4%)	0.8%	0.5%	1.2%	0.3%
Return on invested capital	17.3%	18.6%	17.7%	9.7%	11.3%	10.4%	13.1%	6.6%	6.9%	7.5%	6.3%	10.5%	11.7%	11.0%	9.1%	16.2%	19.0%	8.1%	20.9%	20.0%	10.0%	13.0%	13.6%	4.1%	2.2%	–	(9.7%)	1.1%	0.5%	10.6%	–
Dividend yield	0.1%	5.5%	0.1%	0.2%	0.3%	0.3%	0.3%	–	0.4%	0.3%	0.3%	0.3%	0.3%	0.5%	0.5%	0.6%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	0.67×	0.65×	0.65×	0.62×	0.67×	0.75×	0.73×	0.72×	0.71×	0.74×	0.67×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Debt / equity	0.11×	0.13×	0.15×	0.21×	0.20×	–	–	–	–	–	–	–	–	–	–	–	0.14×	0.12×	0.07×	0.08×	0.12×	0.13×	0.23×	–	–	–	–	–	–	–	–
Effective tax rate	14.7%	7.7%	(24.5%)	5.1%	5.4%	7.1%	8.4%	13.5%	16.8%	3.7%	7.2%	2.7%	4.4%	(0.7%)	(2.3%)	0.9%	2.3%	4.4%	1.8%	3.6%	10.1%	7.6%	8.7%	(1.0%)	8.8%	1692.8%	37.4%	5.3%	(17.9%)	6.8%	–
Share count
Diluted shares outstanding	376	382	379	378	400	410	412	413	418	374	378	405	407	415	415	473	557	583	664	686	672	653	610	537	153	119	154	159	154	154	150

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995
Revenue and gross profit
Revenue	$19,232	$19,929	$17,440	$13,634	$9,613	$9,248	$8,509	$6,926	$5,451	$5,627	$4,464	$3,937	$3,989	$3,526	$3,482	$3,063	$3,244	$3,502	$2,967	$3,452	$3,453	$3,168	$3,104	$2,344	$722	$76	$128	$349	$247	$121	$50	$5
Cost of revenue	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($2,148)	($2,735)	($2,125)	($2,334)	($2,582)	($2,441)	($1,838)	($543)	($24)	($103)	($386)	($243)	($105)	($34)	–
Gross profit	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$1,353	$232	$1,328	$1,118	$586	$664	$506	$178	$52	$25	($38)	$4	$16	$16	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($118)	($132)	($200)	($102)	($95)	($78)	($82)	($80)	($79)	($84)	($82)	($50)	($50)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($456)	$73	($454)	($378)	($300)	($320)	($200)	($124)	($28)	($24)	($15)	$0	($14)	$24	–
Total costs and expenses	($13,920)	($14,674)	($12,900)	($10,056)	($8,097)	($7,413)	($6,721)	($4,938)	($4,558)	($4,637)	($3,627)	($3,415)	($3,203)	($2,780)	($2,909)	($2,613)	($2,453)	($2,604)	($2,662)	($2,579)	($2,713)	($2,882)	($2,761)	($2,037)	($667)	($52)	($127)	($401)	($243)	($119)	($10)	–
Operating income	$5,312	$5,255	$4,540	$3,578	$1,516	$1,835	$1,788	$1,988	$893	$990	$837	$521	$786	$746	$573	$450	$791	$898	$305	$874	$740	$285	$343	$306	$55	$24	$1	($52)	$4	$2	$40	–
Earnings
EBITDA	$5,468	$5,448	$4,775	$3,673	$1,622	$1,917	$1,857	$2,070	$999	$1,116	$856	$544	–	–	–	–	–	–	–	$849	$723	$1,418	$1,680	$1,467	$5	–	–	–	–	–	–	–
Interest income	$1,760	$1,717	$1,586	$1,100	$567	$478	$609	$717	$656	$563	$447	$411	$349	$300	$321	$363	$385	$411	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($156)	($148)	($141)	($133)	($131)	($139)	($143)	($121)	($120)	($117)	($66)	($46)	($46)	($27)	($29)	($32)	($30)	($24)	($24)	($22)	($22)	($23)	($18)	($1)	–	–	–	–	–	–	–	–
Pre-tax income	$5,174	$5,159	$4,674	$3,570	$1,562	$2,368	$1,578	$1,849	$842	$757	$856	$567	$844	$743	$589	$426	$850	$898	$305	$874	$740	$285	$343	$306	$55	$24	$1	($52)	$4	$2	$4	–
Income tax expense	($687)	($760)	($362)	$873	($80)	($128)	($112)	($156)	($114)	($128)	($31)	($41)	($23)	($33)	$4	$10	($8)	($21)	($14)	($16)	($27)	($29)	($26)	($27)	$1	($2)	($9)	$20	($0)	$0	($0)	($0)
Net income	$4,692	$4,399	$4,312	$4,443	$1,476	$2,157	$1,406	$1,636	$758	$619	$693	$538	$834	$710	$593	$436	$843	$877	$291	$858	$713	$256	$317	$281	$59	$22	($8)	($32)	$3	$2	$4	$1
Per share
Diluted EPS (GAAP)	$12.79	$11.60	$11.19	$11.62	$3.80	$5.23	$3.32	$3.87	$1.73	$1.36	$1.78	$1.36	$2.01	$1.69	$1.34	$0.99	$1.73	$1.53	$0.4544	$1.25	$1.01	$0.38	$0.49	$0.46	$0.11	$0.14	($0.0736)	($0.21)	$0.0189	$0.0133	$0.0267	$0.0067
Basic EPS (GAAP)	$13.02	$11.83	$11.47	$11.94	$3.90	$5.35	$3.38	$3.97	$1.76	$1.40	$1.83	$1.41	$2.07	$1.75	$1.38	$1.03	$1.81	$1.59	$0.4744	$1.30	$1.05	$0.81	$1.12	$1.19	$0.33	$0.19	($0.0736)	($0.21)	$0.02	$0.0133	$0.0267	$0.0067
Basic shares outstanding	359	368	372	369	369	392	403	402	404	404	362	365	392	394	403	397	452	536	559	639	659	318	284	236	181	116	119	154	154	153	154	150
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	38.7%	7.8%	38.5%	32.4%	18.5%	21.4%	21.6%	24.7%	68.3%	19.3%	(10.8%)	1.6%	13.3%	31.7%	–
Operating margin	27.6%	26.4%	26.0%	26.2%	15.8%	19.8%	21.0%	28.7%	16.4%	17.6%	18.7%	13.2%	19.7%	21.2%	16.5%	14.7%	24.4%	25.6%	10.3%	25.3%	21.4%	9.0%	11.1%	13.1%	7.6%	31.6%	0.4%	(15.0%)	1.8%	1.6%	79.7%	–
Net margin	24.4%	22.1%	24.7%	32.6%	15.4%	23.3%	16.5%	23.6%	13.9%	11.0%	15.5%	13.7%	20.9%	20.1%	17.0%	14.2%	26.0%	25.0%	9.8%	24.9%	20.7%	8.1%	10.2%	12.0%	8.2%	28.8%	(6.3%)	(9.3%)	1.3%	1.7%	8.2%	20.0%

Analyst consensus

Hold34 analysts

Bearish · 2 · Hold · 17 · Bullish · 15

Earnings history

	EPS	Estimate
Q3 2024	$1.99	$1.96	Beat
Q4 2024	$2.26	$1.90	Beat
Q1 2025	$1.54	$1.32	Beat
Q2 2025	$2.58	$2.30	Beat
Q3 2025	$2.77	$2.26	Beat
Q4 2025	$2.98	$2.59	Beat
Q1 2026	$2.50	$2.48	Beat
Q2 2026	$2.56	$2.47	Beat

Peers

Company overview

IPO dateSep 14, 1995

CEONicolas Alain Emmanuel Papadopoulo

Employees8,000

SectorFinancial Services

IndustryInsurance - Diversified

CountryBM

ExchangeNASDAQ

Websitewww.archgroup.com

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia. The company operates through three segments: Insurance, Reinsurance, and Mortgage. The Insurance segment offers commercial automobile; commercial multiperil; financial and professional line liability; admitted, excess, and surplus casualty lines; property and short-tail specialty; workers compensation; and casualty insurance. Its Reinsurance segment provides reinsurance products for casualty; marine and aviation; property catastrophe; property excluding property catastrophe; and other specialty products. The Mortgage segment offers U.S. primary mortgage insurance business written predominantly on loans sold to the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation; reinsurance and underwriting services related to the U.S. credit-risk transfer business and other U.S. mortgage reinsurance transactions; and international mortgage insurance and reinsurance business covering loans. It markets its products through a group of licensed independent retail and wholesale brokers. The company was formerly known as Risk Capital Holdings, Inc. Arch Capital Group Ltd. was founded in 1995 and is headquartered in Pembroke, Bermuda.

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