Income Statement Beazley plc

Equities

BEZ

GB00BYQ0JC66

Property & Casualty Insurance

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1,277.75 ^GBX	-0.02%		+0.20%	+53.73%

May. 01	Lazard's profit surges on asset management inflows amid market volatility	RE
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Published financial data: BEAZLEY PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	3.15B	3.61B	4.32B	4.91B	5.16B
Total Interest And Dividend Income	70.6M	94.7M	450M	664M	493M
Gain (Loss) on Sale of Investments, Total (Rev)	45.8M	-274M	256M	227M	218M
Other Revenues, Total	28.1M	32.1M	78.5M	106M	73.4M
Total Revenues	3.29B	3.47B	5.1B	5.91B	5.94B
Policy Benefits	1.83B	1.96B	2.15B	2.67B	2.89B
Policy Acquisition / Underwriting Costs, Total	822M	952M	915M	1.01B	1.1B
Selling General & Admin Expenses, Total	283M	304M	366M	389M	426M
Other Operating Expenses	-	-	-1.8M	-5.1M	-700K
Total Operating Expenses	2.93B	3.21B	3.43B	4.07B	4.42B
Operating Income	361M	254M	1.67B	1.84B	1.53B
Interest Expense, Total	-38.9M	-38.7M	-420M	-412M	-378M
Income (Loss) on Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-7.2M	-24M	4.5M	-9.1M	-3.3M
Other Non Operating Income (Expenses)	-	-700K	-	-	-
EBT, Excl. Unusual Items	315M	191M	1.25B	1.42B	1.15B
Gain (Loss) on Sale of Assets	54.4M	-	-	-	-
Other Unusual Items	100K	-	-	-	-
EBT, Incl. Unusual Items	369M	191M	1.25B	1.42B	1.15B
Income Tax Expense	60.5M	30.2M	228M	293M	233M
Earnings From Continuing Operations	309M	161M	1.03B	1.13B	913M
Net Income to Company	309M	161M	1.03B	1.13B	913M
Net Income - (IS)	309M	161M	1.03B	1.13B	913M
Net Income to Common Incl Extra Items	309M	161M	1.03B	1.13B	913M
Net Income to Common Excl. Extra Items	309M	161M	1.03B	1.13B	913M
Per Share Items
Net EPS - Basic	0.51	0.26	1.55	1.75	1.49
Basic EPS - Continuing Operations	0.51	0.26	1.55	1.75	1.49
Basic Weighted Average Shares Outstanding	606M	612M	664M	646M	611M
Net EPS - Diluted	0.5	0.26	1.51	1.7	1.45
Diluted EPS - Continuing Operations	0.5	0.26	1.51	1.7	1.45
Diluted Weighted Average Shares Outstanding	614M	620M	678M	663M	631M
Normalized Basic EPS	0.32	0.2	1.18	1.38	1.17
Normalized Diluted EPS	0.32	0.19	1.16	1.34	1.14
Dividend Per Share	0.17	0.16	0.18	0.31	0.34
Payout Ratio	-	64.05	10.49	10.66	23.1
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	374M	258M	1.7B	1.86B	1.55B
EBITA	369M	255M	1.69B	1.84B	1.53B
EBIT	361M	254M	1.67B	1.84B	1.53B
EBITDAR	379M	263M	-	-	-
Total Revenues (As Reported)	3.35B	3.47B	-	-	-
Effective Tax Rate - (Ratio)	16.39	15.81	18.14	20.6	20.33
Total Current Taxes	56.5M	43.3M	123M	247M	211M
Total Deferred Taxes	4M	-13.1M	104M	46.6M	22.1M
Normalized Net Income	197M	119M	784M	890M	717M
Interest on Long-Term Debt	38.9M	38.7M	34.7M	39.3M	40.9M
Non-Cash Pension Expense	-	-300K	-200K	-100K	-100K
Supplemental Operating Expense Items
General and Administrative Expenses	283M	304M	-	-	-
Net Rental Expense, Total	5.2M	4.3M	-	-	-
Imputed Operating Lease Interest Expense	2.51M	2.09M	-	-	-
Imputed Operating Lease Depreciation	2.69M	2.21M	-	-	-
Stock-Based Comp., Other (Total)	11.6M	15.7M	33.8M	40.1M	56.2M
Total Stock-Based Compensation	11.6M	15.7M	33.8M	40.1M	56.2M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Equity and Preferred Securities, Total	600K	400K	300K	200K	200K
Trading Asset Securities, Total	7.28B	8.31B	9.66B	10.6B	10.61B
Total investments	7.28B	8.31B	9.66B	10.6B	10.61B
Cash And Equivalents	592M	652M	593M	495M	1.11B
Reinsurance Recoverable - (IS)	2.39B	3.29B	2.43B	2.67B	3.02B
Other Receivables - (Insurance Template)	1.81B	2.02B	412M	704M	641M
Deferred Policy Acquisition Costs - (BS)	478M	550M	-	-	-
Gross Property Plant And Equipment	123M	107M	-	-	-
Accumulated Depreciation	-28.3M	-31.8M	-	-	-
Net Property Plant And Equipment	94.7M	75.4M	75.3M	78.7M	85M
Goodwill	62M	62M	62M	62M	62M
Other Intangibles, Total	61.5M	66.8M	103M	136M	162M
Restricted Cash	-	-	219M	387M	263M
Other Current Assets, Total	7.6M	34.7M	66.4M	94.2M	61.8M
Deferred Tax Assets Long-Term (Collected)	16.3M	35.2M	46.9M	192M	178M
Other Long-Term Assets, Total	18.1M	4.6M	4.5M	4M	4.1M
Total Assets	12.81B	15.1B	13.67B	15.42B	16.19B
Liabilities
Accrued Expenses, Total	230M	277M	98.9M	79.1M	23.9M
Insurance And Annuity Liabilities	-	-	7.99B	8.81B	9.49B
Unpaid Claims	6.4B	7.38B	-	-	-
Unearned Premiums	2.47B	2.97B	-	-	-
Reinsurance Payable - (BS)	660M	894M	334M	297M	479M
Current Portion of Long-Term Debt	7.1M	14.5M	6.3M	27.3M	10.5M
Current Portion of Leases	10.6M	9.6M	13.5M	11.6M	10.5M
Long-Term Debt	548M	548M	548M	549M	549M
Long-Term Leases	73.7M	63.1M	63.1M	55.3M	67.1M
Current Income Taxes Payable	24.5M	8.6M	13.7M	27.9M	29M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	251M	356M	512M	564M	265M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non-Current	-	-	202M	387M	393M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	10.68B	12.53B	9.78B	10.81B	11.32B
Common Stock, Total	42.9M	46.6M	46.7M	44.6M	41.9M
Additional Paid In Capital	5.3M	9.7M	10.6M	17.9M	20.8M
Retained Earnings	2.18B	2.63B	3.94B	4.64B	4.86B
Comprehensive Income and Other	-101M	-117M	-117M	-91.1M	-50.4M
Total Common Equity	2.13B	2.57B	3.88B	4.61B	4.87B
Total Equity	2.13B	2.57B	3.88B	4.61B	4.87B
Total Liabilities And Equity	12.81B	15.1B	13.67B	15.42B	16.19B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	606M	665M	663M	630M	589M
ECS Total Common Shares Outstanding	606M	665M	663M	630M	589M
Book Value / Share	3.52	3.87	5.86	7.31	8.27
Tangible Book Value	2.01B	2.44B	3.72B	4.41B	4.65B
Tangible Book Value Per Share	3.31	3.67	5.61	7	7.89
Tangible Book Value Per Share (As Reported)	3.31	4	5.72	7	7.89
Total Debt	639M	635M	631M	643M	637M
Net Debt	47.2M	-17.3M	37.9M	148M	-468M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-18.1M	-4.6M	-4.5M	-4M	-4.1M
Debt Equivalent Oper. Leases	41.6M	34.4M	-	-	-
Equity Method Investments, Total	600K	400K	300K	200K	200K
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	47.5M	46.7M	-	-	-
Full Time Employees	1.68K	1.96K	2.32K	2.42K	2.56K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	309M	161M	1.03B	1.13B	913M
Depreciation, Depletion & Amortization	19.9M	15.6M	30M	28M	29.6M
Amortization of Goodwill and Intangible Assets - (CF)	8.1M	700K	16.2M	-	-
Total Depreciation, Depletion & Amortization	28M	16.3M	46.2M	28M	29.6M
Amortization of Deferred Charges, Total	12.4M	14.3M	-	11.1M	24.3M
(Gain) Loss on Sale of Investments - (CF)	-45.8M	274M	-325M	-227M	-218M
Deferred Policy Acquisition Costs - (CF)	-92.9M	-72.3M	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	11M	15.7M	-	-	-
Provision and Write-off of Bad Debts	-3.3M	17.8M	-	-	-
Change in Accounts Receivable	-950M	-1.11B	546M	627M	507M
Change in insurance Reserves / Liabilities	1.9B	1.87B	-	-	-
Change in Other Net Operating Assets (Collected)	-	-	-63.5M	-295M	-200M
Other Operating Activities	700K	-93.3M	-837M	-639M	259M
Cash from Operations	1.17B	1.1B	393M	635M	1.31B
Capital Expenditure	-4.5M	-1M	-4.3M	-17.8M	-13.4M
Cash Acquisitions	-	-	-	-	-
Divestitures	54.4M	-	-	-	-
Purchase / Sale of Intangible Assets	-17.7M	-22.7M	-50.9M	-45M	-53.5M
Investment in Marketable and Equity Securities, Total	-942M	-1.32B	-	-	-
Other Investing Activities, Total	70.6M	94.2M	-	-	-
Cash from Investing	-839M	-1.25B	-55.2M	-62.8M	-66.9M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-12.8M	-11.6M	-12M	-11.8M	-8.4M
Total Debt Repaid	-12.8M	-11.6M	-12M	-11.8M	-8.4M
Issuance of Common Stock	-	404M	-	-	-
Repurchase of Common Stock	-	-17.8M	-33.6M	-344M	-537M
Common Dividends Paid	-	-103M	-108M	-120M	-211M
Common & Preferred Stock Dividends Paid	-	-103M	-108M	-120M	-211M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-35.2M	-36.3M	-37.5M	-39.3M	-40.9M
Cash from Financing	-48M	236M	-191M	-516M	-797M
Foreign Exchange Rate Adjustments	-	-22.2M	12.6M	13.3M	35.5M
Net Change in Cash	282M	60.7M	160M	69.8M	486M
Supplemental Items
Cash Interest Paid	35.2M	36.3M	37.5M	39.3M	40.9M
Cash Income Tax Paid (Refund)	22.2M	61.1M	111M	301M	258M
Net Debt Issued / Repaid	-12.8M	-11.6M	-12M	-11.8M	-8.4M
Levered Free Cash Flow	284M	-157M	-768M	-713M	264M
Unlevered Free Cash Flow	308M	-133M	-506M	-456M	500M
Change In Net Working Capital	-53M	315M	1.57B	1.62B	498M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.93	1.14	8.22	7.93	6.04
Return on Total Capital	8.63	5.32	25.75	23.61	17.75
Return On Equity %	15.67	6.84	30.04	26.63	19.27
Return on Common Equity	15.67	6.84	30.04	26.63	19.27
Margin Analysis
Gross Profit Margin %	19.56	16.1	39.88	37.7	32.86
SG&A Margin	8.6	8.76	7.17	6.58	7.17
EBITDA Margin %	11.36	7.45	33.39	31.49	26.05
EBITA Margin %	11.21	7.36	33.06	31.21	25.71
EBIT Margin %	10.96	7.34	32.74	31.21	25.71
Income From Continuing Operations Margin %	9.38	4.64	20.14	19.12	15.37
Net Income Margin %	9.38	4.64	20.14	19.12	15.37
Net Avail. For Common Margin %	9.38	4.64	20.14	19.12	15.37
Normalized Net Income Margin	5.98	3.44	15.37	15.05	12.06
Levered Free Cash Flow Margin	8.63	-4.54	-15.06	-12.07	4.44
Unlevered Free Cash Flow Margin	9.37	-3.84	-9.92	-7.71	8.42
Asset Turnover
Asset Turnover	0.28	0.25	0.4	0.41	0.38
Fixed Assets Turnover	32.79	40.76	67.68	76.76	72.61
Receivables Turnover (Average Receivables)	2.03	2.11	51.35	91.65	297.46
Short Term Liquidity
Current Ratio	1.2	1.2	20.77	21.06	46.28
Quick Ratio	0.96	0.92	16.55	16.63	36.41
Operating Cash Flow to Current Liabilities	0.12	0.09	0.61	0.89	3.88
Days Sales Outstanding (Average Receivables)	179.44	172.6	7.11	3.99	1.23
Average Days Payable Outstanding	889.57	962.3	-	-	-
Long Term Solvency
Total Debt/Equity	29.99	24.68	16.26	13.96	13.08
Total Debt / Total Capital	23.07	19.8	13.99	12.25	11.57
LT Debt/Equity	29.16	23.75	15.75	13.11	12.65
Long-Term Debt / Total Capital	22.43	19.04	13.55	11.51	11.19
Total Liabilities / Total Assets	83.36	82.96	71.59	70.12	69.92
EBIT / Interest Expense	9.28	6.57	3.98	4.48	4.04
EBITDA / Interest Expense	9.99	6.99	4.09	4.55	4.12
(EBITDA - Capex) / Interest Expense	9.88	6.97	4.08	4.5	4.08
Total Debt / EBITDA	1.64	2.35	0.37	0.34	0.41
Net Debt / EBITDA	0.12	-0.06	0.02	0.08	-0.3
Total Debt / (EBITDA - Capex)	1.66	2.36	0.37	0.35	0.41
Net Debt / (EBITDA - Capex)	0.12	-0.06	0.02	0.08	-0.3
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.08	5.31	25.23	15.9	0.56
Gross Profit, 1 Yr. Growth %	200.98	-13.33	105.85	9.55	-12.33
EBITDA, 1 Yr. Growth %	-3.91K	-30.89	106.59	10.33	-16.8
EBITA, 1 Yr. Growth %	-2.94K	-30.87	108.46	10.47	-17.17
EBIT, 1 Yr. Growth %	-1.77K	-29.51	110.17	10.47	-17.17
Earnings From Cont. Operations, 1 Yr. Growth %	-769.63	-47.91	112.46	10.08	-19.19
Net Income, 1 Yr. Growth %	-769.63	-47.91	112.46	10.08	-19.19
Normalized Net Income, 1 Yr. Growth %	-721.94	-39.33	114.79	13.48	-19.46
Diluted EPS Before Extra, 1 Yr. Growth %	-726.08	-48.51	94.1	12.55	-15.02
Net Property, Plant and Equip., 1 Yr. Growth %	-10.74	-20.38	-0.13	4.52	8
Accounts Receivable, 1 Yr. Growth %	15.55	6.82	20.69	-80.1	-11.88
Total Assets, 1 Yr. Growth %	20.96	17.89	16.67	12.83	5.02
Common Equity, 1 Yr. Growth %	17.76	20.78	31.37	18.67	5.74
Tangible Book Value, 1 Yr. Growth %	19.25	21.79	31.51	18.62	5.41
Cash From Operations, 1 Yr. Growth %	145.28	-6.22	-404.57	61.47	107.09
Capital Expenditures, 1 Yr. Growth %	-65.12	-77.78	330	313.95	-24.72
Levered Free Cash Flow, 1 Yr. Growth %	-303.1	-155.37	-91.2	-7.16	-137.03
Unlevered Free Cash Flow, 1 Yr. Growth %	-368.79	-143.16	-94.12	-9.9	-209.84
Dividend Per Share, 1 Yr. Growth %	-	-6.88	11.2	73.04	7.51
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.74	9.12	24.46	20.47	7.95
Gross Profit, 2 Yr. CAGR %	9.33	61.53	77.71	50.17	-2
EBITDA, 2 Yr. CAGR %	10.67	413.49	113.41	50.25	-4.19
EBITA, 2 Yr. CAGR %	10.38	342.98	113.74	51.02	-4.34
EBIT, 2 Yr. CAGR %	10.72	243.19	115.09	52.37	-4.34
Earnings From Cont. Operations, 2 Yr. CAGR %	14.83	86.76	82.38	52.93	-5.68
Net Income, 2 Yr. CAGR %	14.83	86.76	82.38	52.93	-5.68
Normalized Net Income, 2 Yr. CAGR %	8.42	94.29	99.62	56.12	-4.4
Diluted EPS Before Extra, 2 Yr. CAGR %	6.92	79.55	73.49	47.8	-2.2
Net Property, Plant and Equip., 2 Yr. CAGR %	45.39	-15.7	-10.83	2.16	6.25
Accounts Receivable, 2 Yr. CAGR %	27.22	11.1	-75.54	-50.99	-58.12
Total Assets, 2 Yr. CAGR %	20.14	19.42	3.3	14.73	8.86
Common Equity, 2 Yr. CAGR %	14.5	19.26	34.98	24.86	12.02
Tangible Book Value, 2 Yr. CAGR %	15.56	20.52	36.08	24.9	11.82
Cash From Operations, 2 Yr. CAGR %	59.41	51.67	-42.02	121.76	82.86
Capital Expenditures, 2 Yr. CAGR %	-15.48	-72.16	-2.25	321.9	76.53
Levered Free Cash Flow, 2 Yr. CAGR %	27.29	6.06	64.44	-71.41	-41.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	39.7	7.72	28.07	-76.99	-0.56
Dividend Per Share, 2 Yr. CAGR %	3.55	-	1.76	38.71	36.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	15.21	9.55	20.55	21.54	13.43
Gross Profit, 3 Yr. CAGR %	21.08	1.19	111.84	51.25	25.51
EBITDA, 3 Yr. CAGR %	44.89	-5.4	458.03	70.74	23.38
EBITA, 3 Yr. CAGR %	45.08	-5.55	406.16	70.98	23.62
EBIT, 3 Yr. CAGR %	47.69	-4.74	325.98	72.25	24.36
Earnings From Cont. Operations, 3 Yr. CAGR %	65.42	-11.77	181.36	54.13	23.64
Net Income, 3 Yr. CAGR %	65.42	-11.77	181.36	54.13	23.64
Normalized Net Income, 3 Yr. CAGR %	60.3	-10.64	191.58	65.36	25.21
Diluted EPS Before Extra, 3 Yr. CAGR %	57.8	-16.19	166.11	50.19	22.9
Net Property, Plant and Equip., 3 Yr. CAGR %	168.36	18.95	-10.8	-5.98	4.08
Accounts Receivable, 3 Yr. CAGR %	21.6	20.02	-58.96	-77.16	-40.41
Total Assets, 3 Yr. CAGR %	18.31	19.38	8.88	6.38	11.4
Common Equity, 3 Yr. CAGR %	13.25	16.55	28.97	29.31	18.13
Tangible Book Value, 3 Yr. CAGR %	14.41	17.6	30.22	29.99	18.03
Cash From Operations, 3 Yr. CAGR %	61.3	33.58	-6.22	-18.42	116.76
Capital Expenditures, 3 Yr. CAGR %	20.06	-45.86	-30.66	58.15	137.52
Levered Free Cash Flow, 3 Yr. CAGR %	76.33	-3.54	76.45	35.91	-68.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	67.33	-5.55	63.99	13.91	-61.26
Dividend Per Share, 3 Yr. CAGR %	5.41	-0.05	-	21.46	27.42
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.69	11.15	18.83	17.52	15.34
Gross Profit, 5 Yr. CAGR %	2.61	4.5	41.17	32.84	55.63
EBITDA, 5 Yr. CAGR %	3.12	4.85	69.17	43.56	175.25
EBITA, 5 Yr. CAGR %	2.96	4.86	69.41	43.53	159.43
EBIT, 5 Yr. CAGR %	2.55	5.67	71.66	44.35	134.38
Earnings From Cont. Operations, 5 Yr. CAGR %	4.23	4.34	72	37.01	81.72
Net Income, 5 Yr. CAGR %	4.23	4.34	72	37.01	81.72
Normalized Net Income, 5 Yr. CAGR %	1.43	2.6	75.01	39.68	86.66
Diluted EPS Before Extra, 5 Yr. CAGR %	1.24	1.2	63.9	31.1	78.31
Net Property, Plant and Equip., 5 Yr. CAGR %	77.33	76.52	72.71	11.93	-4.34
Accounts Receivable, 5 Yr. CAGR %	16.37	14.56	-35.97	-54.61	-58.62
Total Assets, 5 Yr. CAGR %	12.82	14.84	12.06	11.68	8.87
Common Equity, 5 Yr. CAGR %	7.51	11.42	21.49	23.17	21.9
Tangible Book Value, 5 Yr. CAGR %	7.67	12.36	22.63	24.01	22.52
Cash From Operations, 5 Yr. CAGR %	43.25	33.47	7.13	6.65	22.49
Capital Expenditures, 5 Yr. CAGR %	9.18	-10.07	10.59	23.09	0.76
Levered Free Cash Flow, 5 Yr. CAGR %	25.73	-0.11	71.48	32.4	13.55
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.68	-5	50.37	23.6	34.25
Dividend Per Share, 5 Yr. CAGR %	6.14	1.63	3.94	13.95	-