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Sells personal auto insurance concentrated in California, plus homeowners insurance.
Sells personal auto insurance concentrated in California, plus homeowners insurance.
Sells policies through independent agents and keeps premiums minus claims and costs, plus investment income on the premiums held. In California, rates need prior approval from the state regulator under Proposition 103, so how quickly it can raise rates against rising claim costs decides profits. Founder George Joseph remains the largest shareholder.
Moat: narrow (scale, brand, regulatory licence). Long California operating history and regulatory rate-filing expertise in a heavily regulated state market.
Headquarters: Los Angeles, California, United States · Founded: 1961 · Employees: 4,300
Size Mercury General (MCY) is a United States Financials company (Property/Casualty Insurance) with a market value of $4.58B, the 1240th largest of 3,117 United States companies the cockpit tracks. Shares closed at $82.61 on 6 Nov 2026.
Performance Over six months the shares fell 17.1%, against +17.6% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 5.4% over the last twelve months (peer median +4.4%); the operating margin is 13.4% (peer median 17.7%).
Valuation It trades at 1.63× book value against a peer median of 1.97× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 13.7%; Mercury General delivers 25.5%, so the price asks less than the business earns today.
Credit Mercury General has 1 bond outstanding ($525M), rated Baa3 by the agencies and trading like BB+ at a weighted spread of 186 bp.
Short interest Short interest is 2.9% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.14B | $5.99B | $5.48B | $4.63B | $3.64B |
| Revenue growth | — | +9% | +18% | +27% | — |
| Net income | $643M | $541M | $468M | $96.3M | -$513M |
| Free cash flow | $1.16B | $1.03B | $991M | $416M | $317M |
| Capital expenditure | $61.7M | $58.4M | $46.1M | $36.8M | $35.5M |
| Total debt | $587M | $588M | $590M | $591M | $424M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Mercury General MCY | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% |
| Progressive PGR | $132B | +17% | +8% | 33% | 3.82× | 15.8% |
| Allstate ALL | $64.4B | +20% | +6% | 46% | 2.04× | 9.9% |
| Travelers Companies (The) TRV | $81.0B | +33% | +1% | 28% | 2.79× | 13.9% |
| Kemper KMPR | $1.97B | +10% | -4% | -19% | 0.90× | 9.4% |
| Root ROOT | $672M | -23% | +15% | 15% | 2.05× | 37.6% |
| Lemonade LMND | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MCY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.2% | +9.3% | lowest of 21 |
| 6-month return | -17.1% | +17.6% | lowest of 21 |
| Return on equity | 25.5% | 18.1% | 3rd highest of 20 |
| Price / book | 1.63× | 1.97× | 9th cheapest of 21 |
| Trailing P/E | 7.1× | 12.4× | 4th cheapest of 18 |
| ROE the price implies | 13.7% | 10.5% | 9th most demanding of 21 |
| ROE delivered | 25.5% | 18.8% | 3rd highest of 18 |
| Bond spread | 186 bp | 113 bp | widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |
| Protector Forsikring PROT.OL | Norway | $4.19B | +4% | +12% | 35% | 5.34× | 18.1% | 35.2% |
| Palomar PLMR | United States | $4.10B | +37% | +60% | 22% | 4.16× | 17.0% | 22.2% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| SiriusPoint SPNT | United States | $3.06B | +12% | +23% | 23% | 1.34× | 9.5% | 23.1% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| NMI NMIH | United States | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% | 15.4% |
| Zenkoku Hosho 7164.T | Japan | $2.69B | +1% | +2% | 14% | 1.74× | 6.2% | 14.1% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| HCI HCI | United States | $2.31B | +22% | +23% | 34% | 2.15× | 17.3% | 33.8% |
| Hyundai M&F INS 001450.KS | South Korea | $2.29B | +38% | -5% | 21% | 0.51× | 4.2% | 21.0% |
| Porch PRCH | United States | $2.26B | +80% | +20% | n/a | 345.11× | 5,821.2% | n/a |
| Lancashire LRE.L | United Kingdom | $2.24B | +18% | -2% | 22% | 1.49× | 12.7% | 21.8% |
| Horace Mann Educators HMN | United States | $2.16B | +20% | +4% | 12% | 1.46× | 7.9% | n/a |
| Kemper KMPR | United States | $1.97B | +10% | -4% | -19% | 0.90× | 9.4% | -19.3% |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
Mercury General has 1 bond outstanding with $525M face value. The agencies rate it Baa3; its bonds trade like BB+. Weighted yield 6.68%, a spread of 186 bp over government bonds.