ARCH CAPITAL GROUP LTD. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ARCH CAPITAL GROUP LTD. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Revenue	4,464	5,627	5,451	6,926	8,509	9,248	9,613	13,634	17,440	19,929
General and administrative	81.7	83.8	79	80.1	82	78	95	102	200	132
Interest expense	66.3	117	120	121	143	139	131	133	141	148
Interest income	447	563	656	717	609	478	567	1,100	1,586	1,717
Pre-tax income	856	757	842	1,849	1,578	2,368	1,562	3,570	4,674	5,159
Income tax	31.4	128	114	156	112	128	80	-873	362	760
Net income to minority interests	131	10.4	-30.2	57	60.2	82	6	-1	0	0
Net income	693	619	758	1,636	1,406	2,157	1,476	4,443	4,312	4,399
EPS, basic	1.83	1.40	1.76	3.97	3.38	5.35	3.90	11.94	11.47	11.83
EPS, diluted	1.78	1.36	1.73	3.87	3.32	5.23	3.80	11.62	11.19	11.60
Shares, basic (weighted)	362	404	404	402	403	392	369	369	373	368
Shares, diluted (weighted)	374	418	413	412	410	400	378	379	382	376
Dividend per share									5.00	5.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	843	606	647	726	906	859	855	917	979	993
Lease right-of-use assets						107	123	125	129	120
Goodwill	204	198	250	327	315	345	342	345	571	607
Intangible assets	509	386	323	326	299	529	393	316	701	534
Total assets	29,372	32,052	32,218	37,885	43,282	45,101	47,990	58,906	70,906	79,241
Long-term debt	1,732	1,733	1,734	1,872	2,861	2,724	2,725	2,726	2,728	2,729
Total liabilities	20,061	21,806	21,781	25,570	29,295	31,546	35,069	40,551	50,086	55,035
Paid-in capital	532	1,231	1,794	1,890	1,978	2,085	2,211	2,327	2,510	2,735
Retained earnings	7,997	8,563	9,426	11,021	12,362	14,456	15,892	20,295	22,686	27,045
Treasury stock	-2,035	-2,078	-2,382	-2,406	-2,504	-3,761	-4,378	-4,424	-4,487	-6,410
Other comprehensive income	-115	118	-179	212	489	-65	-1,646	-676	-720	5
Shareholders' equity	8,254	9,197	9,440	11,497	13,106	13,546	12,910	18,353	20,820	24,206
Minority interests	852	843	792	763	823	0	0
Total equity	9,106	10,040	10,231	12,260	13,929	13,546	12,910	18,353	20,820	24,206
Total liabilities and equity	29,372	32,052	32,218	37,885	43,282	45,101	47,990	58,906	70,906	79,241
Shares outstanding	368	393	402	406	407	379	370	373	376	359

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Net income	824	630	728	1,693	1,466	2,239	1,482	4,442	4,312	4,399
Stock-based compensation	56.6	67.8	55.8	66.4	71.3	88	88	93	133	148
Deferred income tax	-19.4	173	28.1	11.4	-85.8	-167	-121	-1,161	-35	174
Cash from operations	1,377	1,095	1,559	2,048	2,887	3,425	3,816	5,749	6,673	6,172
Capital expenditures	-15.3	-22.8	-29.8	-37.8	-39.9	-41	-50	-52	-51	-44
Acquisitions	-1,993	0	0				0	0	852	0
Purchases of investments	-35,533	-36,807	-33,328	-30,054	-39,765	-35,452	-16,390	-18,062	-31,290	-36,480
Sales and maturities of investments	755	907	893	643	871	1,629	715	781	2,036	2,494
Cash from investing	-2,703	-1,352	-554	-1,806	-3,043	-2,138	-3,101	-5,468	-4,461	-4,036
Share buybacks	-75.3	0	-283	-2.87	-83.5	-1,234	-586	0	-24	-1,889
Cash from financing	1,636	-3.41	-989	-80.7	521	-1,229	-706	-69	-1,925	-1,890
Exchange rate effect	-21.2	18.1	-19.1	17.7	22.3	-34	-50	13	-25	61
Net change in cash	288	-242	-2.64	179	387	24	-41	225	262	307
Free cash flow	1,362	1,072	1,530	2,011	2,847	3,384	3,766	5,697	6,622	6,128
Interest paid	63.3	117	120	127	133	139	128	127	127	127
Income taxes paid	50.6	51.8	-0.98	109	203	286	255	267	378	458

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $94.66 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Net margin	24.4%	Net income / revenue.
FCF margin	31.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	31.7%	Cash from operations / revenue.
Return on equity (ROE)	19.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.5%	Net income / average total assets.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	27.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	18.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	2.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	43.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	25.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	3.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	45.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	28.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-7.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	17.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-7.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	17.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	16.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	16.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	23.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	13.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	18.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	12.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	71.8%	Total liabilities / total assets.
Tangible book value	$24.03B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.
FCF conversion	129.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$13.45	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$55.14	Revenue / diluted weighted shares.
FCF per share	$17.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$17.49	Cash from operations / diluted weighted shares.
Book value per share	$68.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$68.89	Tangible book value / shares outstanding.
Cash per share	$3.18	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	57.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$32.30B	Share price x shares outstanding.
Enterprise value	$31.19B	Market cap + total debt - cash - short-term investments.
P/E	6.88x	Market cap / net income. Only when net income is positive.
P/S	1.68x	Market cap / revenue.
P/B	1.34x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.34x	Market cap / tangible book value, when positive.
P/FCF	5.33x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.30x	Market cap / cash from operations, when positive.
EV/Sales	1.62x	Enterprise value / revenue.
EV/FCF	5.15x	Enterprise value / free cash flow, when both are positive.
FCF yield	18.7%	Free cash flow / market cap.
Earnings yield	14.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	10.8%	(Dividends paid + share buybacks) / market cap.
PEG	0.15x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ARCH CAPITAL GROUP LTD.'s revenue in fiscal 2025?

ARCH CAPITAL GROUP LTD. reported revenue of $19.93B for fiscal 2025, 14.3% higher than the year before.

Was ARCH CAPITAL GROUP LTD. profitable in fiscal 2025?

Yes. Net income was $4.40B, a net margin of 22.1%.

How much free cash flow did ARCH CAPITAL GROUP LTD. generate in fiscal 2025?

Cash from operations of $6.17B minus capital expenditures of $44.0M left free cash flow of $6.13B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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