Filing Flows › Mercury General (MCY) › Q4 2025
Mercury General (MCY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Mercury General (MCY) reported revenue of $1.5B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -3% from the quarter before. Operating margin was 16.2%, net earnings $203M (13.2% of revenue).
Mercury General, Q4 2025: revenue $1.5B (+12% year over year), operating margin 16.2%, net earnings $203M, operating cash flow $288M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | -3% | +12% |
| Operating profit | $249M | -29% | +102% |
| Net earnings | $203M | -28% | +100% |
| Operating cash flow | $288M | -42% | +16% |
| Free cash flow | $274M | -43% | +16% |
What changed
Revenue was $1.5B in Q4 2025, up 12% year over year and down 3% from the previous quarter.
Operating profit was $0.25B, a 16.2% margin (up 7.2 points year over year). Of the extra revenue versus a year earlier, 74% reached operating profit, above the 9% margin then. Total costs grew 4% against revenue growth of 12%. Net earnings were $0.20B, up 100% year over year. The effective tax rate was 18.6%.
Operating cash flow was $0.29B (up 16% year over year), 142% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization. Working capital and other items added $0.06B. Capital expenditures of $0.01B left free cash flow of $0.27B.
Questions
What was Mercury General's revenue in the fourth quarter 2025?
Mercury General (MCY) reported revenue of $1.5B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -3% from the quarter before.
Was Mercury General profitable in the fourth quarter 2025?
Operating profit was $249M (16.2% of revenue) and net earnings $203M.
Source: Mercury General 10-K on SEC EDGAR.