Cash flow MS&AD Insurance Group Holdings, Inc.

Equities

8725

JP3890310000

Property & Casualty Insurance

Market Closed - Japan Exchange Other stock markets 01:30:00 2026-02-16 am EST			5-day change	1st Jan Change
4,208.00 ^JPY	+0.43%		+1.18%	+14.25%

Feb. 13	MS&AD Insurance Group Holdings, Inc. provides Consolidated Earnings Guidance for Year Ending March 31, 2026	CI
Feb. 13	MS&AD Insurance's Nine-Month Net Income Rises 5%	MT

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Published financial data: MS&AD INSURANCE GROUP HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	3,371B	4,181B	4,429B	5,029B	5,311B
Total Interest And Dividend Income	684B	471B	321B	615B	435B
Gain (Loss) on Sale of Investments, Total (Rev)	796B	411B	390B	826B	576B
Other Revenues, Total	33.75B	56.47B	85.06B	89.68B	113B
Total Revenues	4,885B	5,120B	5,226B	6,559B	6,435B
Policy Benefits	3,060B	3,185B	3,272B	4,253B	3,682B
Policy Acquisition / Underwriting Costs, Total	741B	730B	793B	854B	897B
Selling General & Admin Expenses, Total	689B	696B	739B	798B	846B
Provision for Bad Debts	1.61B	137M	1.72B	1.55B	1.37B
Other Operating Expenses	4.2B	5.25B	8.78B	23.57B	67.57B
Total Operating Expenses	4,495B	4,617B	4,814B	5,930B	5,494B
Operating Income	391B	502B	411B	629B	941B
Interest Expense, Total	-14.6B	-15.48B	-10.38B	-10.45B	-11.78B
Income (Loss) on Equity Invest.	-6.6B	-	-	-	-
Other Non Operating Income (Expenses)	-46.84B	-28.06B	-2M	-58.45B	-9M
EBT, Excl. Unusual Items	322B	459B	401B	560B	929B
Gain (Loss) on Sale of Investments	-15.94B	-68.41B	-170B	-143B	3.11B
Gain (Loss) on Sale of Assets	1.65B	8.69B	24.4B	11.54B	2.64B
Asset Writedown	-1.95B	-2.68B	-1.8B	-11.84B	-7.5B
Other Unusual Items	-104B	-26.48B	-18.25B	46.12B	-19.86B
EBT, Incl. Unusual Items	202B	370B	235B	462B	907B
Income Tax Expense	54.06B	104B	70.44B	89.44B	211B
Earnings From Continuing Operations	148B	266B	165B	373B	697B
Net Income to Company	148B	266B	165B	373B	697B
Minority Interest	-3.27B	-3.15B	-3.48B	-3.55B	-5B
Net Income - (IS)	144B	263B	162B	369B	692B
Net Income to Common Incl Extra Items	144B	263B	162B	369B	692B
Net Income to Common Excl. Extra Items	144B	263B	162B	369B	692B
Per Share Items
Net EPS - Basic	85.27	158.17	99.93	231.83	445.53
Basic EPS - Continuing Operations	85.27	158.17	99.93	231.83	445.53
Basic Weighted Average Shares Outstanding	1.69B	1.66B	1.62B	1.59B	1.55B
Net EPS - Diluted	85.22	158.11	99.9	231.77	445.45
Diluted EPS - Continuing Operations	85.22	158.11	99.9	231.77	445.45
Diluted Weighted Average Shares Outstanding	1.69B	1.66B	1.62B	1.59B	1.55B
Normalized Basic EPS	117.08	170.73	152.92	217.44	370.78
Normalized Diluted EPS	117.01	170.66	152.87	217.39	370.72
Dividend Per Share	51.67	60	66.67	90	100
Payout Ratio	58.82	34.35	66.09	31.72	-
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	475B	600B	518B	750B	1,063B
EBITA	402B	515B	425B	647B	941B
EBIT	391B	502B	411B	629B	941B
Total Revenues (As Reported)	-	-	-	-	6,661B
Effective Tax Rate - (Ratio)	26.8	28.13	29.92	19.35	23.22
Total Current Taxes	-	-	-	-	215B
Total Deferred Taxes	-	-	-	-	-4.16B
Normalized Net Income	198B	284B	247B	346B	576B
Non-Cash Pension Expense	-2.64B	-6.31B	-6.97B	-4.51B	-

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Total Other Investments	16,796B	16,959B	16,149B	18,167B	18,148B
Total investments	16,796B	16,959B	16,149B	18,167B	18,148B
Cash And Equivalents	2,058B	2,357B	2,772B	2,911B	2,200B
Other Receivables - (Insurance Template)	1,136B	1,132B	1,102B	1,154B	910B
Net Property Plant And Equipment	495B	488B	477B	466B	456B
Goodwill	123B	125B	143B	141B	133B
Other Intangibles, Total	309B	318B	353B	349B	345B
Restricted Cash	1,718B	2,039B	2,082B	2,420B	2,663B
Deferred Tax Assets Long-Term (Collected)	30.55B	40.65B	123B	59.39B	64.76B
Other Long-Term Assets, Total	1,478B	1,575B	1,799B	1,292B	1,321B
Total Assets	24,143B	25,034B	25,000B	26,960B	26,241B
Liabilities
Accrued Expenses, Total	28.26B	30.01B	28.44B	34.19B	42.1B
Insurance And Annuity Liabilities	15,850B	16,141B	16,187B	16,313B	16,252B
Unpaid Claims	2,257B	2,468B	2,682B	2,885B	3,301B
Current Portion of Long-Term Debt	-	98.38B	100B	-	-
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	1,007B	883B	715B	715B	591B
Pension & Other Post Retirement Benefits	161B	138B	141B	138B	140B
Deferred Tax Liability Non-Current	34.63B	45.53B	31.18B	371B	37.71B
Other Non Current Liabilities	1,677B	1,928B	2,059B	1,990B	1,825B
Total Liabilities	21,016B	21,731B	21,944B	22,447B	22,188B
Common Stock, Total	100B	101B	101B	101B	101B
Additional Paid In Capital	553B	554B	345B	345B	345B
Retained Earnings	1,079B	1,251B	1,306B	1,634B	2,135B
Treasury Stock	-119B	-160B	-6.66B	-36.84B	-286B
Comprehensive Income and Other	1,472B	1,514B	1,265B	2,424B	1,704B
Total Common Equity	3,085B	3,260B	3,011B	4,467B	4,001B
Minority Interest	41.29B	43.1B	45.67B	46.38B	52.22B
Total Equity	3,127B	3,303B	3,056B	4,514B	4,053B
Total Liabilities And Equity	24,143B	25,034B	25,000B	26,960B	26,241B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.67B	1.64B	1.6B	1.59B	1.51B
ECS Total Common Shares Outstanding	1.67B	1.64B	1.6B	1.59B	1.51B
Book Value / Share	1.84K	1.98K	1.88K	2.81K	2.64K
Tangible Book Value	2,653B	2,816B	2,514B	3,977B	3,523B
Tangible Book Value Per Share	1.58K	1.71K	1.57K	2.5K	2.33K
Total Debt	1,007B	981B	815B	715B	591B
Net Debt	-1,050B	-1,376B	-1,957B	-2,196B	-1,609B
Debt Equivalent of Unfunded Proj. Benefit Obligation	127B	95.99B	105B	37.37B	-
Minority Interest, Total (Incl. Fin. Div)	41.29B	43.1B	45.67B	46.38B	52.22B
Account Code - Inventory Valuation	-	-	-	-	3
Full Time Employees	41.5K	39.96K	38.58K	38.39K	38.25K

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	202B	370B	235B	462B	-
Depreciation, Depletion & Amortization	72.35B	84.81B	93.1B	103B	-
Amortization of Goodwill and Intangible Assets - (CF)	11.71B	12.3B	13.89B	17.83B	-
Total Depreciation, Depletion & Amortization	84.06B	97.11B	107B	121B	-
(Gain) Loss On Sale of Asset - (CF)	-2B	-9.29B	-28.2B	-1.62B	-
(Gain) Loss on Sale of Investments - (CF)	-256B	-128B	-89.49B	-214B	-
(Income) Loss On Equity Investments - (CF)	6.6B	-16.71B	-2.37B	-18.76B	-
Change in insurance Reserves / Liabilities	324B	376B	126B	712B	-
Change in Other Net Operating Assets (Collected)	-360B	-274B	-154B	-393B	-
Other Operating Activities	-323B	-178B	176M	-119B	-
Cash from Operations	-324B	237B	194B	549B	-
Capital Expenditure	-33.7B	-28.13B	-24.62B	-22.88B	-
Sale of Property, Plant, and Equipment	10.95B	20.59B	48.59B	23.29B	-
Purchase / Sale of Intangible Assets	-57.41B	-53.02B	-57.01B	-62.06B	-
Investment in Marketable and Equity Securities, Total	336B	226B	662B	88.29B	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-15.54B	-139M	23.11B	15.27B	-
Other Investing Activities, Total	-196B	-238B	-171B	-319B	-
Cash from Investing	43.92B	-71.98B	481B	-277B	-
Long-Term Debt Issued, Total	99.32B	150B	-	-	-
Total Debt Issued	99.32B	150B	-	-	-
Long-Term Debt Repaid, Total	-100B	-176B	-170B	-100B	-
Total Debt Repaid	-100B	-176B	-170B	-100B	-
Repurchase of Common Stock	-35.04B	-40.85B	-55.74B	-30.38B	-
Common Dividends Paid	-84.93B	-90.26B	-107B	-117B	-
Common & Preferred Stock Dividends Paid	-84.93B	-90.26B	-107B	-117B	-
Other Financing Activities, Total	200B	216B	18.38B	15.96B	-
Cash from Financing	79.28B	58.54B	-315B	-232B	-
Foreign Exchange Rate Adjustments	-3.54B	38.5B	29.61B	46.24B	-
Miscellaneous Cash Flow Adjustments	1M	-	1M	-	-
Net Change in Cash	-204B	262B	390B	87.33B	-
Supplemental Items
Cash Interest Paid	14.57B	15.77B	10.45B	10.45B	-
Cash Income Tax Paid (Refund)	30.61B	109B	73B	8.45B	-
Net Debt Issued / Repaid	-679M	-26.51B	-170B	-100B	-
Levered Free Cash Flow	674B	243B	450B	251B	-
Unlevered Free Cash Flow	683B	252B	456B	258B	-
Change In Net Working Capital	-446B	77.63B	-174B	171B	-94.19B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.03	1.28	1.03	1.51	2.21
Return on Total Capital	6.39	7.46	6.31	8.64	11.91
Return On Equity %	5.25	8.27	5.19	9.85	16.26
Return on Common Equity	5.21	8.28	5.15	9.88	16.34
Margin Analysis
Gross Profit Margin %	22.21	23.52	22.22	22.13	28.84
SG&A Margin	14.09	13.6	14.15	12.17	13.15
EBITDA Margin %	9.71	11.71	9.92	11.43	16.51
EBITA Margin %	8.23	10.05	8.14	9.86	14.62
EBIT Margin %	7.99	9.81	7.87	9.59	14.62
Income From Continuing Operations Margin %	3.02	5.19	3.16	5.68	10.83
Net Income Margin %	2.96	5.13	3.09	5.63	10.75
Net Avail. For Common Margin %	2.96	5.13	3.09	5.63	10.75
Normalized Net Income Margin	4.06	5.54	4.73	5.28	8.94
Levered Free Cash Flow Margin	13.79	4.74	8.61	3.83	-
Unlevered Free Cash Flow Margin	13.97	4.93	8.74	3.93	-
Asset Turnover
Asset Turnover	0.21	0.21	0.21	0.25	0.24
Fixed Assets Turnover	9.94	10.42	10.84	13.92	13.96
Short Term Liquidity
Current Ratio	1.73	1.75	1.78	1.89	1.48
Quick Ratio	0.98	0.96	1.04	1.06	0.68
Operating Cash Flow to Current Liabilities	-0.14	0.09	0.07	0.19	-
Average Days Payable Outstanding	211.62	220.21	231.26	199.48	246.52
Long Term Solvency
Total Debt/Equity	32.22	29.71	26.66	15.84	14.57
Total Debt / Total Capital	24.37	22.91	21.05	13.68	12.72
LT Debt/Equity	32.22	26.73	23.39	15.84	14.57
Long-Term Debt / Total Capital	24.37	20.61	18.46	13.68	12.72
Total Liabilities / Total Assets	87.05	86.81	87.78	83.26	84.56
EBIT / Interest Expense	26.75	32.45	39.63	60.15	79.84
EBITDA / Interest Expense	32.51	38.73	49.93	71.73	90.19
(EBITDA - Capex) / Interest Expense	30.2	36.91	47.56	69.54	90.19
Total Debt / EBITDA	2.12	1.64	1.57	0.95	0.56
Net Debt / EBITDA	-2.21	-2.29	-3.78	-2.93	-1.51
Total Debt / (EBITDA - Capex)	2.29	1.72	1.65	0.98	0.56
Net Debt / (EBITDA - Capex)	-2.38	-2.41	-3.96	-3.02	-1.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.01	4.8	2.07	25.52	0.3
Gross Profit, 1 Yr. Growth %	-0.18	11	-3.57	25.02	41.83
EBITDA, 1 Yr. Growth %	2.8	26.34	-13.53	44.62	93.95
EBITA, 1 Yr. Growth %	1.57	27.98	-17.37	52.02	111.54
EBIT, 1 Yr. Growth %	1.89	28.67	-18.11	52.81	120.37
Earnings From Cont. Operations, 1 Yr. Growth %	1.45	80.1	-37.95	125.93	86.86
Net Income, 1 Yr. Growth %	0.96	82	-38.53	128.61	87.31
Normalized Net Income, 1 Yr. Growth %	0.25	43.07	-12.86	40.12	124.22
Diluted EPS Before Extra, 1 Yr. Growth %	2.99	85.53	-36.81	132	92.19
Net Property, Plant and Equip., 1 Yr. Growth %	1.33	-1.44	-2.25	-2.32	-1.98
Total Assets, 1 Yr. Growth %	4.08	3.69	-0.13	7.84	-2.67
Common Equity, 1 Yr. Growth %	25.79	5.65	-7.64	48.38	-10.44
Tangible Book Value, 1 Yr. Growth %	32	6.14	-10.72	58.15	-11.42
Cash From Operations, 1 Yr. Growth %	-148.5	-173.08	-17.98	183.01	-
Capital Expenditures, 1 Yr. Growth %	5.23	-16.52	-12.46	-7.1	-
Levered Free Cash Flow, 1 Yr. Growth %	10.09K	-63.97	85.42	-44.17	-
Unlevered Free Cash Flow, 1 Yr. Growth %	4.46K	-63.03	80.88	-43.54	-
Dividend Per Share, 1 Yr. Growth %	3.33	16.13	11.11	35	11.11
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-5.16	2.88	3.42	13.19	12.82
Gross Profit, 2 Yr. CAGR %	2.89	5.26	3.46	9.8	36.82
EBITDA, 2 Yr. CAGR %	7.33	13.97	4.52	11.83	74.63
EBITA, 2 Yr. CAGR %	6.82	14.01	2.83	12.07	91.93
EBIT, 2 Yr. CAGR %	7.51	14.5	2.65	11.86	97.37
Earnings From Cont. Operations, 2 Yr. CAGR %	-12.84	35.17	5.71	18.4	105.47
Net Income, 2 Yr. CAGR %	-13.44	35.55	5.77	18.54	106.93
Normalized Net Income, 2 Yr. CAGR %	0.38	19.76	11.66	10.5	102.08
Diluted EPS Before Extra, 2 Yr. CAGR %	-11.8	38.23	8.27	21.07	111.16
Net Property, Plant and Equip., 2 Yr. CAGR %	3.34	-0.07	-1.85	-2.28	-2.15
Total Assets, 2 Yr. CAGR %	2.16	3.88	1.76	3.78	2.45
Common Equity, 2 Yr. CAGR %	5.9	15.28	-1.22	17.07	15.28
Tangible Book Value, 2 Yr. CAGR %	9.68	18.37	-2.65	18.82	18.36
Cash From Operations, 2 Yr. CAGR %	-35.42	-40.47	-22.58	52.36	-
Capital Expenditures, 2 Yr. CAGR %	1.98	-6.27	-14.51	-9.82	-
Levered Free Cash Flow, 2 Yr. CAGR %	24.56	506.01	-18.26	1.74	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.4	310.72	-18.23	1.06	-
Dividend Per Share, 2 Yr. CAGR %	5.22	9.54	13.59	22.47	22.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.38	-1.95	2.61	10.32	8.41
Gross Profit, 3 Yr. CAGR %	5.04	5.52	2.23	10.2	17.78
EBITDA, 3 Yr. CAGR %	12.23	13.33	3.94	16.47	28.31
EBITA, 3 Yr. CAGR %	13.97	13.46	2.41	17.14	31.02
EBIT, 3 Yr. CAGR %	14.53	14.15	2.39	17.21	32.33
Earnings From Cont. Operations, 3 Yr. CAGR %	-1.36	11.01	4.27	36.17	37.85
Net Income, 3 Yr. CAGR %	-2.14	10.89	4.14	36.75	38.07
Normalized Net Income, 3 Yr. CAGR %	10.26	12.96	7.72	20.43	33.69
Diluted EPS Before Extra, 3 Yr. CAGR %	-0.56	13.01	6.48	39.59	41.24
Net Property, Plant and Equip., 3 Yr. CAGR %	2.49	1.72	-0.8	-2	-2.18
Total Assets, 3 Yr. CAGR %	2.42	2.67	2.53	3.75	1.58
Common Equity, 3 Yr. CAGR %	1.6	5.81	7.07	13.13	7.07
Tangible Book Value, 3 Yr. CAGR %	3.52	8.49	7.75	14.44	7.74
Cash From Operations, 3 Yr. CAGR %	-26.71	-32.71	-33.76	19.26	-
Capital Expenditures, 3 Yr. CAGR %	18.42	-4.6	-8.38	-12.11	-
Levered Free Cash Flow, 3 Yr. CAGR %	35.67	-17.62	308.36	-28.02	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	35.34	-16.1	212.48	-27.72	-
Dividend Per Share, 3 Yr. CAGR %	6.04	8.74	10.06	20.32	18.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.17	-0.8	0.51	3.84	6.6
Gross Profit, 5 Yr. CAGR %	1.2	2.36	4.4	7.21	14.96
EBITDA, 5 Yr. CAGR %	0.06	4.39	9.08	12.72	31.76
EBITA, 5 Yr. CAGR %	-1.3	4.07	9.38	12.9	36.04
EBIT, 5 Yr. CAGR %	-1.6	4.14	9.62	13.23	36.04
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.07	4.67	1.41	13.91	36.77
Net Income, 5 Yr. CAGR %	-4.47	4.54	0.95	13.89	37.05
Normalized Net Income, 5 Yr. CAGR %	-5.25	4.31	10.82	11.97	43.07
Diluted EPS Before Extra, 5 Yr. CAGR %	-3.07	6.21	2.88	16.17	40.03
Net Property, Plant and Equip., 5 Yr. CAGR %	0.7	0.96	0.73	0.1	-1.34
Total Assets, 5 Yr. CAGR %	3.52	3.35	2.15	3.11	2.5
Common Equity, 5 Yr. CAGR %	2.72	3.77	0.46	10.18	10.28
Tangible Book Value, 5 Yr. CAGR %	4.05	4.21	1	12.51	11.87
Cash From Operations, 5 Yr. CAGR %	-24.16	-26.28	-25.08	-6.69	-
Capital Expenditures, 5 Yr. CAGR %	8.88	6.89	3.95	-6.72	-
Levered Free Cash Flow, 5 Yr. CAGR %	5.99	7.31	10.78	-10.36	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	6.08	7.45	10.64	-9.62	-
Dividend Per Share, 5 Yr. CAGR %	11.49	8.45	9	14.04	14.87