ACGL

MKT CAP:$34B

Arch Capital Group Ltd.

Market Cap

$34B

Financial Services·Insurance - Diversified·🇧🇲 Bermuda·NASDAQ

Financials·Insurance·🇧🇲·NASDAQ

Stock Price

$96.45+$2.59 (+2.76%)

Apr 24, 2026

Company Details

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casual...

CEO

Nicolas Alain Emmanuel Papadopoulo

IPO Date

Sep 14, 1995

Website

www.archgroup.com

Key Metrics TTM

Revenue

$19.9B

+14.3% YoY

Net Income

$4.4B

EPS (Diluted)

$11.62

Free Cash Flow

$6.1B

Revenue / Share

$52.99

Gross Margin

37.2%

Operating Margin

25.0%

Net Margin

22.1%

FCF Margin

30.7%

P/S

1.7x

P/E

7.8x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 26, 2026

$19.9B+14.3%EPS $11.62

Q4 2025

Feb 26, 2026

$5.4B+7.3%EPS $3.35

Q3 2025

Nov 6, 2025

$5.0B+11.1%EPS $3.56

Q2 2025

Aug 5, 2025

$5.0B+22.4%EPS $3.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$2.0B	$504M	$196M
Q4 21	$2.3B	$898M	$550M
Q2 22	$2.3B	$752M	$363M
Q4 22	$3.0B	$1.2B	$847M
Q1 23	$3.1B	$1.1B	$694M
Q2 23	$3.1B	$1.0B	$645M
Q3 23	$3.3B	$1.1B	$682M
Q4 23	$3.8B	$1.5B	$1.1B
Q1 24	$3.9B	$1.5B	$1.1B
Q2 24	$4.1B	$1.6B	$1.2B
Q3 24	$4.5B	$1.4B	$1.1B
Q4 24	$5.0B	$1.9B	$1.2B
Q1 25	$4.6B	$1.2B	$678M
Q2 25	$5.0B	$1.8B	$1.4B
Q3 25	$5.0B	$2.0B	$1.5B
Q4 25	$5.4B	$2.3B	$1.4B

Valuation

Quarter	P/S	P/E
Q3 21	—	—
Q4 21	—	—
Q2 22	—	—
Q4 22	2.4x	10.0x
Q1 23	2.4x	9.7x
Q2 23	2.4x	10.3x
Q3 23	2.4x	9.9x
Q4 23	2.2x	6.4x
Q1 24	2.4x	7.1x
Q2 24	2.5x	6.9x
Q3 24	2.6x	7.3x
Q4 24	2.0x	8.0x
Q1 25	2.0x	9.5x
Q2 25	1.8x	9.0x
Q3 25	1.7x	8.1x
Q4 25	1.8x	8.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$1.0B	$1.0B
Q4 21	$800M	$793M
Q2 22	$902M	$890M
Q4 22	$982M	$968M
Q1 23	$963M	$952M
Q2 23	$1.2B	$1.1B
Q3 23	$2.0B	$2.0B
Q4 23	$1.7B	$1.6B
Q1 24	$1.6B	$1.5B
Q2 24	$1.5B	$1.5B
Q3 24	$2.0B	$2.0B
Q4 24	$1.6B	$1.6B
Q1 25	$1.5B	$1.4B
Q2 25	$1.1B	$1.1B
Q3 25	$2.2B	$2.2B
Q4 25	$1.4B	$1.4B

Capital Expenditures

Quarter	CapEx
Q3 21	$11M
Q4 21	$7M
Q2 22	$12M
Q4 22	$13M
Q1 23	$11M
Q2 23	$15M
Q3 23	$11M
Q4 23	$15M
Q1 24	$15M
Q2 24	$11M
Q3 24	$12M
Q4 24	$13M
Q1 25	$9M
Q2 25	$12M
Q3 25	$12M
Q4 25	$11M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+53.1%	+31.7%
Q2 23	+37.5%	+44.1%
Q3 23	+45.2%	+37.1%
Q4 23	+28.3%	+28.3%
Q1 24	+24.4%	+16.0%
Q2 24	+31.2%	+18.6%
Q3 24	+36.0%	+31.4%
Q4 24	+32.6%	+41.3%
Q1 25	+18.4%	+39.2%
Q2 25	+22.4%	+22.5%
Q3 25	+11.1%	+1.3%
Q4 25	+7.3%	+4.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$15M	0.7%
Q4 21	$15M	0.7%
Q2 22	$21M	0.9%
Q4 22	$8M	0.3%
Q1 23	$41M	1.3%
Q2 23	$17M	0.5%
Q3 23	$15M	0.5%
Q4 23	$20M	0.5%
Q1 24	$68M	1.8%
Q2 24	$16M	0.4%
Q3 24	$16M	0.4%
Q4 24	$33M	0.7%
Q1 25	$74M	1.6%
Q2 25	$25M	0.5%
Q3 25	$25M	0.5%
Q4 25	$24M	0.4%

OpEx Breakdown

Quarter	G&A
Q3 21	$20M
Q4 21	$18M
Q2 22	$28M
Q4 22	$18M
Q1 23	$30M
Q2 23	$21M
Q3 23	$20M
Q4 23	$31M
Q1 24	$46M
Q2 24	$23M
Q3 24	$19M
Q4 24	$1.6B
Q1 25	$50M
Q2 25	$29M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$813M	$5.8B	$6.6B
Q2 22	$814M	$6.0B	$6.8B
Q3 22	$814M	$6.0B	$6.8B
Q4 22	$855M	$5.6B	$6.5B
Q1 23	$803M	$6.3B	$7.1B
Q2 23	$904M	$6.6B	$7.5B
Q3 23	$859M	$6.8B	$7.6B
Q4 23	$917M	$7.1B	$8.0B
Q1 24	$993M	$7.9B	$8.8B
Q2 24	$1.0B	$8.1B	$9.1B
Q3 24	$1.0B	$9.3B	$10.3B
Q4 24	$979M	$8.3B	$9.3B
Q1 25	$1.2B	$8.8B	$10.0B
Q2 25	$983M	$9.3B	$10.3B
Q3 25	$1.1B	$10.1B	$11.2B
Q4 25	$993M	$10.6B	$11.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	398M	—	—
Q4 21	389M	-2.3%	—
Q2 22	378M	-2.8%	—
Q4 22	366M	-3.2%	—
Q1 23	378M	+3.2%	-5.1%
Q2 23	378M	+0.2%	-2.7%
Q3 23	379M	+0.3%	+0.4%
Q4 23	380M	+0.1%	+3.8%
Q1 24	381M	+0.2%	+0.8%
Q2 24	382M	+0.3%	+0.8%
Q3 24	382M	+0.2%	+0.8%
Q4 24	382M	-0.1%	+0.5%
Q1 25	382M	+0.0%	+0.4%
Q2 25	380M	-0.5%	-0.4%
Q3 25	376M	-1.0%	-1.6%
Q4 25	376M	0.0%	-1.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$685.6K	3K
Q4 21	$726.3K	3K
Q2 22	$731.6K	3K
Q4 22	$508.9K	6K
Q1 23	$537.6K	6K
Q2 23	$533.8K	6K
Q3 23	$567.8K	6K
Q4 23	$1M	4K
Q1 24	$1M	4K
Q2 24	$1M	4K
Q3 24	$1M	4K
Q4 24	$697.2K	7K
Q1 25	$637.8K	7K
Q2 25	$690.7K	7K
Q3 25	$691.3K	7K
Q4 25	$673.4K	8K

Revenue / Employee