Cash flow Admiral Group plc

Stocks

ADM

GB00B02J6398

Property & Casualty Insurance

Real-time Estimate Cboe Europe Other stock markets 15:45:09 15/06/2026 BST			5-day change	1st Jan Change
3,471.00 ^GBX	+0.20%		+4.84%	+9.19%

06-10	WINNERS & LOSERS: WH Smith seeks capital, cuts outlook; Workspace down	AN
06-08	Microsoft, HSBC, Other Major Companies Sign AI Adoption Insights Deal with UK	MT

9265.Y7xWKdCOgo85Dg17OQ4JE8S8RFkN7i7O_n96-8b3RkA.M41jX-TbwfVDZGQyQV87W5f0HjR5mF_6hC5LmofHKwgAjhpjlsW6tndpPQ

Published financial data: ADMIRAL GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	855M	911M	3.15B	4.42B	4.54B
Total Interest And Dividend Income	83.4M	123M	154M	203M	245M
Gain (Loss) on Sale of Investments, Total (Rev)	-4.2M	-18.2M	2.5M	-6.3M	6.1M
Other Revenues, Total	619M	490M	204M	189M	234M
Total Revenues	1.55B	1.51B	3.51B	4.81B	5.02B
Policy Benefits	332M	506M	1.96B	2.64B	2.67B
Policy Acquisition / Underwriting Costs, Total	-	-	182M	247M	235M
Selling General & Admin Expenses, Total	479M	486M	55.3M	58.6M	75.9M
Provision For Loan Losses - (Ins. / REIT / Utility Templates)	-10.7M	-20.7M	-33.5M	-28.3M	-35.9M
Stock-Based Compensation (IS)	-	-	-	35.3M	36.9M
Other Operating Expenses	-	-	792M	897M	930M
Total Operating Expenses	822M	1.01B	3.02B	3.91B	3.98B
Operating Income	732M	494M	490M	903M	1.04B
Interest Expense, Total	-19.8M	-26M	-47.3M	-64.3M	-82.7M
Other Non Operating Income (Expenses)	1.8M	1.5M	400K	600K	400K
EBT, Excl. Unusual Items	714M	469M	443M	839M	958M
EBT, Incl. Unusual Items	714M	469M	443M	839M	958M
Income Tax Expense	130M	97.2M	106M	176M	213M
Earnings From Continuing Operations	583M	372M	337M	663M	745M
Earnings Of Discontinued Operations	413M	-	-	-	-3M
Net Income to Company	997M	372M	337M	663M	742M
Minority Interest	1.2M	1.2M	800K	400K	300K
Net Income - (IS)	998M	373M	338M	663M	743M
Net Income to Common Incl Extra Items	998M	373M	338M	663M	743M
Net Income to Common Excl. Extra Items	584M	373M	338M	663M	746M
Per Share Items
Net EPS - Basic	3.35	1.24	1.11	2.17	2.46
Basic EPS - Continuing Operations	1.96	1.24	1.11	2.17	2.47
Basic Weighted Average Shares Outstanding	297M	300M	304M	306M	301M
Net EPS - Diluted	3.35	1.24	1.11	2.17	2.42
Diluted EPS - Continuing Operations	1.96	1.24	1.11	2.17	2.43
Diluted Weighted Average Shares Outstanding	298M	302M	305M	306M	307M
Normalized Basic EPS	1.5	0.98	0.91	1.71	1.99
Normalized Diluted EPS	1.5	0.98	0.91	1.71	1.95
Dividend Per Share	1.3	0.82	0.73	1.43	1.59
Payout Ratio	44.31	140.11	76.23	48.24	84.26
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	745M	504M	501M	916M	1.06B
EBITA	732M	494M	490M	906M	1.05B
EBIT	732M	494M	490M	903M	1.04B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	1.55B	1.49B	-	-	-
Effective Tax Rate - (Ratio)	18.25	20.72	23.85	21.01	22.19
Total Current Taxes	133M	107M	113M	156M	227M
Total Deferred Taxes	-3.2M	-9.5M	-7.3M	19.8M	-14.3M
Normalized Net Income	447M	294M	278M	525M	599M
Interest on Long-Term Debt	11.4M	11.4M	18.5M	24.5M	22.3M
Supplemental Operating Expense Items
Marketing Expenses	3.7M	10.9M	15.3M	20.1M	18.4M
Selling and Marketing Expenses	3.7M	10.9M	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	64.8M	51.7M	55.3M	58.6M	75.9M
Stock-Based Comp., Other (Total)	-	-	8M	35.3M	36.9M
Total Stock-Based Compensation	64.8M	51.7M	63.3M	93.9M	113M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	2.58B	2.35B	2.8B	3.34B	3.71B
Investment In Equity and Preferred Securities, Total	19.3M	25.1M	24M	-	-
Trading Asset Securities, Total	1.06B	937M	919M	1.43B	1.49B
Real Estate Owned	-	-	-	6.9M	5.7M
Total Other Investments	85.3M	101M	117M	91.7M	57.9M
Total investments	3.74B	3.41B	3.86B	4.86B	5.26B
Cash And Equivalents	335M	297M	353M	268M	242M
Reinsurance Recoverable - (IS)	2.18B	2.71B	1.19B	989M	1.08B
Other Receivables - (Insurance Template)	1.75B	2.12B	1.25B	1.29B	1.86B
Deferred Policy Acquisition Costs - (BS)	28.2M	30.7M	-	-	-
Gross Property Plant And Equipment	241M	238M	215M	184M	189M
Accumulated Depreciation	-138M	-149M	-125M	-95.9M	-109M
Net Property Plant And Equipment	103M	89.8M	90.1M	87.8M	80.2M
Goodwill	62.3M	62.3M	62.3M	112M	112M
Other Intangibles, Total	89.4M	155M	181M	209M	216M
Restricted Cash	37.6M	-	-	45.2M	59.6M
Other Current Assets, Total	35.6M	41.3M	62.2M	63.7M	66.7M
Deferred Tax Assets Long-Term (Collected)	9.3M	18.5M	46.1M	19.8M	50.7M
Total Assets	8.36B	8.94B	7.1B	7.94B	9.02B
Liabilities
Accounts Payable, Total	39.8M	30M	42.3M	52.4M	57.3M
Accrued Expenses, Total	189M	205M	64.1M	60.7M	71.5M
Insurance And Annuity Liabilities	162M	110M	4.74B	-	22M
Unpaid Claims	3.04B	3.46B	-	3.67B	4.19B
Unearned Premiums	1.29B	1.47B	-	1.29B	1.21B
Reinsurance Payable - (BS)	1.27B	1.51B	-	-	-
Current Portion of Long-Term Debt	-	-	-	8.2M	7.7M
Current Portion of Leases	10.5M	8.3M	13.7M	8.6M	7.4M
Short-Term Borrowings	20M	20M	55M	117M	200M
Long-Term Debt	651M	919M	1.07B	1.2B	1.61B
Long-Term Leases	94.8M	80.2M	67.5M	71M	66.2M
Current Income Taxes Payable	-	5M	4.9M	35M	69.3M
Unearned Revenue, Current	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	-	-	-	-
Unearned Revenue Non Current	64.4M	67.1M	-	28.2M	24.3M
Deferred Tax Liability Non-Current	-	-	-	-	-
Other Non Current Liabilities	112M	96.2M	42.5M	34M	42.1M
Total Liabilities	6.95B	7.98B	6.1B	6.57B	7.58B
Common Stock, Total	300K	300K	300K	300K	300K
Additional Paid In Capital	13.1M	13.1M	13.1M	13.1M	13.1M
Retained Earnings	1.35B	1.11B	1.02B	1.38B	1.46B
Comprehensive Income and Other	44M	-174M	-40.5M	-26.7M	-29.3M
Total Common Equity	1.41B	954M	992M	1.37B	1.44B
Minority Interest	2.3M	1.2M	1M	600K	300K
Total Equity	1.41B	955M	993M	1.37B	1.44B
Total Liabilities And Equity	8.36B	8.94B	7.1B	7.94B	9.02B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	295M	298M	300M	303M	305M
ECS Total Common Shares Outstanding	295M	298M	300M	303M	305M
Book Value / Share	4.77	3.2	3.3	4.52	4.73
Tangible Book Value	1.25B	737M	749M	1.05B	1.12B
Tangible Book Value Per Share	4.26	2.47	2.49	3.46	3.66
Total Debt	776M	1.03B	1.21B	1.4B	1.89B
Net Debt	441M	731M	858M	1.13B	1.65B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	2.3M	1.2M	1M	600K	300K
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	101M	106M	85.2M	59.8M	61.3M
Full Time Employees	11.32K	11K	13K	15.43K	14.8K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	998M	373M	338M	663M	743M
Depreciation, Depletion & Amortization	23.6M	18.2M	18.2M	18.8M	15.9M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	2.8M	7.5M
Total Depreciation, Depletion & Amortization	23.6M	18.2M	18.2M	21.6M	23.4M
Amortization of Deferred Charges, Total	19.3M	23.7M	40.3M	58.8M	51.7M
(Gain) Loss on Sale of Investments - (CF)	2.6M	-1.8M	-2.5M	-	-
Total Asset Writedown	49.2M	-1.2M	-3.8M	13.5M	3.8M
Provision for Credit Losses	10.7M	13.5M	33.5M	-	-
Stock-Based Compensation (CF)	65.2M	57.3M	63.3M	67.8M	75M
Provision and Write-off of Bad Debts	-	-	-15.3M	10.3M	13.2M
Net (Increase) Decrease in Loans Originated / Sold - Operating	-	-	-	-	149M
Change in Accounts Receivable	-9.2M	-130M	-94.7M	182M	-15.8M
Reinsurance Recoverable - (CF)	-92.9M	-538M	-142M	185M	-123M
Change in Accounts Payable	-56.1M	198M	52.4M	-136M	44.9M
Change in insurance Reserves / Liabilities	134M	578M	451M	422M	502M
Change in Other Net Operating Assets (Collected)	-205M	-281M	-73.6M	-231M	-689M
Net Cash From Discontinued Operations	-404M	-	-	-	24.5M
Other Operating Activities	-290M	155M	-386M	-888M	-366M
Cash from Operations	245M	465M	279M	369M	436M
Capital Expenditure	-10.6M	-10M	-75.9M	-61.7M	-74.3M
Cash Acquisitions	-	-	-	-82.5M	-
Purchase / Sale of Intangible Assets	-58.6M	-88.6M	-	-	-
Investment in Marketable and Equity Securities, Total	-	-2.4M	-	-	-
Other Investing Activities, Total	457M	-	-	-	-20.9M
Cash from Investing	388M	-101M	-75.9M	-144M	-95.2M
Long-Term Debt Issued, Total	186M	268M	181M	550M	976M
Total Debt Issued	186M	268M	181M	550M	976M
Long-Term Debt Repaid, Total	-9.6M	-9.2M	-10.7M	-377M	-488M
Total Debt Repaid	-9.6M	-9.2M	-10.7M	-377M	-488M
Repurchase of Common Stock	-	-	-	-	-35.3M
Common Dividends Paid	-442M	-523M	-258M	-320M	-626M
Common & Preferred Stock Dividends Paid	-442M	-523M	-258M	-320M	-626M
Special Dividend Paid	-279M	-136M	-49.45M	-49.8M	-89.66M
Other Financing Activities, Total	-20.2M	-25.3M	-35.1M	-61.1M	-70.7M
Cash from Financing	-565M	-425M	-172M	-258M	-333M
Foreign Exchange Rate Adjustments	-5.3M	-14.8M	24.8M	-6.4M	-20.6M
Miscellaneous Cash Flow Adjustments	-41.3M	-	-	-	-
Net Change in Cash	21M	-75.7M	56.1M	-39.5M	-12.5M
Supplemental Items
Cash Interest Paid	20.2M	25.3M	35.1M	76.7M	76M
Cash Income Tax Paid (Refund)	127M	91.2M	133M	124M	192M
Net Debt Issued / Repaid	176M	259M	170M	173M	488M
Levered Free Cash Flow	809M	626M	53.5M	951M	983M
Unlevered Free Cash Flow	821M	642M	83.06M	991M	1.03B
Change In Net Working Capital	-326M	-339M	269M	-314M	-271M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.64	3.57	4.6	7.5	7.66
Return on Total Capital	23.33	14.8	14.86	22.68	21.28
Return On Equity %	46.08	31.46	35.88	56.09	52.97
Return on Common Equity	46.41	31.6	36	56.17	53
Margin Analysis
Gross Profit Margin %	77.92	65.02	38.09	39.38	41.48
SG&A Margin	30.83	32.24	1.57	1.22	1.51
EBITDA Margin %	47.95	33.44	14.27	19.04	21.03
EBITA Margin %	47.09	32.77	13.95	18.84	20.87
EBIT Margin %	47.09	32.77	13.95	18.78	20.72
Income From Continuing Operations Margin %	37.55	24.69	9.6	13.79	14.85
Net Income Margin %	64.24	24.77	9.63	13.79	14.79
Net Avail. For Common Margin %	37.62	24.77	9.63	13.79	14.85
Normalized Net Income Margin	28.78	19.55	7.9	10.92	11.93
Levered Free Cash Flow Margin	52.08	41.57	1.52	19.77	19.58
Unlevered Free Cash Flow Margin	52.87	42.64	2.37	20.61	20.61
Asset Turnover
Asset Turnover	0.19	0.17	0.53	0.64	0.59
Fixed Assets Turnover	12.75	15.6	39.04	54.06	59.77
Receivables Turnover (Average Receivables)	0.97	1.05	14.36	28.57	83
Short Term Liquidity
Current Ratio	1.29	1.15	16.08	0.57	0.54
Quick Ratio	0.69	0.55	9.11	0.36	0.34
Operating Cash Flow to Current Liabilities	0.07	0.1	1.55	0.07	0.08
Days Sales Outstanding (Average Receivables)	376.22	346.88	25.42	12.81	4.4
Average Days Payable Outstanding	2.34K	1.77K	5.46	453.25	495.27
Long Term Solvency
Total Debt/Equity	55.11	107.56	121.98	102.27	131.17
Total Debt / Total Capital	35.53	51.82	54.95	50.56	56.74
LT Debt/Equity	52.94	104.59	115.06	92.48	116.24
Long-Term Debt / Total Capital	34.13	50.39	51.83	45.72	50.29
Total Liabilities / Total Assets	83.15	89.31	86.01	82.75	84
EBIT / Interest Expense	36.94	18.98	10.35	14.04	12.58
EBITDA / Interest Expense	38.14	19.68	10.74	14.38	12.86
(EBITDA - Capex) / Interest Expense	37.6	19.3	9.13	13.42	11.96
Total Debt / EBITDA	1.03	2.01	2.38	1.52	1.78
Net Debt / EBITDA	0.58	1.43	1.69	1.23	1.55
Total Debt / (EBITDA - Capex)	1.04	2.05	2.8	1.62	1.91
Net Debt / (EBITDA - Capex)	0.59	1.46	1.99	1.31	1.67
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	19.07	-3.07	16.15	36.94	8.77
Gross Profit, 1 Yr. Growth %	22.81	-19.12	17.99	41.58	14.44
EBITDA, 1 Yr. Growth %	16.3	-32.39	26.52	82.81	16.93
EBITA, 1 Yr. Growth %	16.54	-32.54	26.93	84.95	17.34
EBIT, 1 Yr. Growth %	16.54	-32.54	26.93	84.38	16.86
Earnings From Cont. Operations, 1 Yr. Growth %	16.2	-36.26	18.19	96.59	14.45
Net Income, 1 Yr. Growth %	88.71	-62.62	17.98	96.24	11.96
Normalized Net Income, 1 Yr. Growth %	17.32	-34.18	22.3	89.12	15.87
Diluted EPS Before Extra, 1 Yr. Growth %	15.08	-36.87	16.63	95.44	14.09
Net Property, Plant and Equip., 1 Yr. Growth %	-26.5	-12.98	0.33	-2.55	-8.66
Accounts Receivable, 1 Yr. Growth %	-2.18	5.53	45.36	-81.26	25.44
Total Assets, 1 Yr. Growth %	6.6	6.92	14.29	11.95	13.58
Common Equity, 1 Yr. Growth %	26.38	-32.14	11.97	38.14	5.34
Tangible Book Value, 1 Yr. Growth %	28.89	-41.28	12.08	40.09	6.35
Cash From Operations, 1 Yr. Growth %	-59.82	90.15	-41.5	32.26	18.29
Capital Expenditures, 1 Yr. Growth %	-41.76	-5.66	-23.02	-18.71	20.42
Levered Free Cash Flow, 1 Yr. Growth %	174.17	-26.07	-104.54	-79.3	4.57
Unlevered Free Cash Flow, 1 Yr. Growth %	166.24	-25.24	-107.15	-78.56	5.56
Dividend Per Share, 1 Yr. Growth %	9.7	-37.2	-10.16	94.41	11.21
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	13.09	7.43	50.34	26.12	19.58
Gross Profit, 2 Yr. CAGR %	19.93	-0.34	5.11	29.25	24.79
EBITDA, 2 Yr. CAGR %	17.9	-11.33	-18	52.08	45.18
EBITA, 2 Yr. CAGR %	18.15	-11.33	-18.18	53.22	46.27
EBIT, 2 Yr. CAGR %	18.16	-11.33	-18.18	52.98	45.74
Earnings From Cont. Operations, 2 Yr. CAGR %	18.43	-13.94	-23.97	52.43	48.67
Net Income, 2 Yr. CAGR %	51.92	-16.01	-41.8	52.16	48.22
Normalized Net Income, 2 Yr. CAGR %	18.27	-12.12	-21.21	52.08	46.91
Diluted EPS Before Extra, 2 Yr. CAGR %	16.81	-14.8	-24.8	50.98	48
Net Property, Plant and Equip., 2 Yr. CAGR %	-18.24	-20.02	-6.56	-1.12	-5.65
Accounts Receivable, 2 Yr. CAGR %	0.4	1.6	-46.61	-47.81	-51.52
Total Assets, 2 Yr. CAGR %	4.98	6.76	-7.87	13.12	12.76
Common Equity, 2 Yr. CAGR %	24.35	-7.4	-16.02	24.37	20.63
Tangible Book Value, 2 Yr. CAGR %	27.32	-13.01	-22.74	25.3	22.06
Cash From Operations, 2 Yr. CAGR %	1.68	-12.6	6.8	-12.04	25.08
Capital Expenditures, 2 Yr. CAGR %	-20.09	-25.88	167.59	-20.9	-1.06
Levered Free Cash Flow, 2 Yr. CAGR %	251.61	45.64	-74.86	-10.18	-53.73
Unlevered Free Cash Flow, 2 Yr. CAGR %	223.6	44.27	-68.9	-7.66	-52.68
Dividend Per Share, 2 Yr. CAGR %	15.16	-17	-24.89	32.16	47.04
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	7.08	7.42	39.1	45.73	18.42
Gross Profit, 3 Yr. CAGR %	9.77	5.17	10.7	16.08	22.48
EBITDA, 3 Yr. CAGR %	13.98	-2.05	-7.87	7.12	38.68
EBITA, 3 Yr. CAGR %	14.2	-1.98	-7.94	7.38	39.52
EBIT, 3 Yr. CAGR %	14.2	-1.97	-7.94	7.27	39.18
Earnings From Cont. Operations, 3 Yr. CAGR %	14.31	-3.67	-12.42	4.36	37.72
Net Income, 3 Yr. CAGR %	36.18	-4.81	-13.86	-12.73	37.37
Normalized Net Income, 3 Yr. CAGR %	13.95	-2.72	-10.03	5.49	38.2
Diluted EPS Before Extra, 3 Yr. CAGR %	12.75	-4.88	-13.37	3.39	36.7
Net Property, Plant and Equip., 3 Yr. CAGR %	54.29	-16.53	-13.74	-5.24	-3.7
Accounts Receivable, 3 Yr. CAGR %	4.33	2.08	-34.67	-62.34	-30.09
Total Assets, 3 Yr. CAGR %	7.11	5.62	-3.28	-1.68	13.27
Common Equity, 3 Yr. CAGR %	22.86	1.62	-3.76	-0.86	17.67
Tangible Book Value, 3 Yr. CAGR %	26.5	-1.63	-8.37	-5.79	18.64
Cash From Operations, 3 Yr. CAGR %	9.93	25.27	-22.9	14.69	-2.91
Capital Expenditures, 3 Yr. CAGR %	1.96	-15.54	60.96	79.88	-9
Levered Free Cash Flow, 3 Yr. CAGR %	98.28	112.27	-43.4	3.94	-5.86
Unlevered Free Cash Flow, 3 Yr. CAGR %	105.63	101.54	-35.43	4.88	-3.79
Dividend Per Share, 3 Yr. CAGR %	12.9	-5.92	-14.78	3.13	24.77
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.85	5.92	22.65	31.68	30.93
Gross Profit, 5 Yr. CAGR %	14.24	4.59	7.88	17.61	16.14
EBITDA, 5 Yr. CAGR %	19.92	3.43	-0.09	11.31	10.51
EBITA, 5 Yr. CAGR %	20.34	3.51	-0.06	11.57	10.79
EBIT, 5 Yr. CAGR %	20.34	3.51	-0.06	11.5	10.63
Earnings From Cont. Operations, 5 Yr. CAGR %	22.2	2.31	-2.89	9.77	8.22
Net Income, 5 Yr. CAGR %	35.04	2.22	-3.07	8.93	7.03
Normalized Net Income, 5 Yr. CAGR %	19.68	2.93	-1.69	10.43	9.46
Diluted EPS Before Extra, 5 Yr. CAGR %	20.09	1.12	-4.13	8.54	7.33
Net Property, Plant and Equip., 5 Yr. CAGR %	26.39	23.47	26.24	-10.68	-10.6
Accounts Receivable, 5 Yr. CAGR %	9.54	6.48	-20.19	-44.25	-42.02
Total Assets, 5 Yr. CAGR %	11.45	8.81	0.85	0.93	2.84
Common Equity, 5 Yr. CAGR %	19.76	8.11	5.52	8.54	5.34
Tangible Book Value, 5 Yr. CAGR %	23.76	7.74	3.86	6.27	2.77
Cash From Operations, 5 Yr. CAGR %	-10.77	6.96	8.67	9.3	-6.44
Capital Expenditures, 5 Yr. CAGR %	-19.62	0.61	49.99	30.03	32.49
Levered Free Cash Flow, 5 Yr. CAGR %	31.02	90.71	-12.41	70.78	27.22
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.55	105.7	-2.54	66.07	27.39
Dividend Per Share, 5 Yr. CAGR %	20.22	1.09	-4.08	7.78	6