Revenue growth decelerated to -10.1% in 2026Q2, while the loss ratio swung from 110.0% in 2024Q4 to 54.5% in 2026Q1, indicating reserve releases are boosting earnings.
Everest Group, Ltd. (EG) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Revenue | 16.7B | 17.32B | 17.08B | 14.46B | 11.98B | 11.33B | 9.6B | 8.23B | 7.36B | 6.62B | 5.79B | 5.68B | 5.68B | 5.64B | 4.92B | 4.69B | 4.71B | 4.5B | 3.53B | 4.78B | 4.52B | 4.56B | 5.02B | 4.11B | 2.56B | 1.8B | 1.48B | 2.61B | 1.32B | 1.3B | 1.17B |
| Revenue Growth % | -4.58% | 1.42% | 18.06% | 20.68% | 5.8% | 18.02% | 16.61% | 11.81% | 11.16% | 14.29% | 2.07% | -0.04% | 0.68% | 14.59% | 4.88% | -0.25% | 4.61% | 27.53% | -26.23% | 5.86% | -0.99% | -9.07% | 22.16% | 60.58% | 41.97% | 21.74% | -43.4% | 98.78% | 1.23% | 11.11% | - |
| Medical Costs & Claims | 12.19B | 13.76B | 14.61B | 11.38B | 10.63B | 9.6B | 8.42B | 6.63B | 7.17B | 5.83B | 4.33B | 4.25B | 4B | 3.78B | 3.7B | 4.68B | 3.88B | 2.37B | 2.44B | 2.7B | 2.57B | 3.85B | 3.41B | 2.69B | 2.25B | 1.27B | 936.25M | 819.83M | 827.97M | 326.5M | 56.5M |
| Medical Cost Ratio % | 72.97% | 79.48% | 85.53% | 78.67% | 88.68% | 84.75% | 87.77% | 80.51% | 97.4% | 87.98% | 74.7% | 74.84% | 70.38% | 66.97% | 75.12% | 99.63% | 82.4% | 52.77% | 69.14% | 56.48% | 56.95% | 84.47% | 67.88% | 65.61% | 88.01% | 70.41% | 63.27% | 31.36% | 62.95% | 25.13% | 4.83% |
| Gross Profit | 4.51B | 3.55B | 2.47B | 3.08B | 1.36B | 1.73B | 1.17B | 1.6B | 191.06M | 795.75M | 1.47B | 1.43B | 1.68B | 1.86B | 1.22B | 17.24M | 828.24M | 2.12B | 1.09B | 2.08B | 1.94B | 708.34M | 1.61B | 1.41B | 306.62M | 533.14M | 543.58M | 1.79B | 487.24M | 972.7M | 1.11B |
| Gross Margin % | 27.03% | 20.52% | 14.47% | 21.33% | 11.32% | 15.25% | 12.23% | 19.49% | 2.6% | 12.02% | 25.3% | 25.16% | 29.62% | 33.03% | 24.88% | 0.37% | 17.6% | 47.23% | 30.86% | 43.52% | 43.05% | 15.53% | 32.12% | 34.39% | 11.99% | 29.59% | 36.73% | 68.64% | 37.05% | 74.87% | 95.17% |
| Gross Profit Growth % | - | 43.82% | -19.9% | 127.34% | -21.47% | 47.19% | -26.83% | 739.8% | -75.99% | -45.72% | 2.63% | -15.07% | -9.72% | 52.1% | 7006.31% | -97.92% | -61.02% | 95.16% | -47.7% | 7.01% | 174.57% | -56.04% | 14.09% | 360.65% | -42.49% | -1.92% | -69.71% | 268.31% | -49.91% | -12.59% | - |
| Operating Expenses | 2.21B | 1.6B | 976M | 931M | 769M | 184M | 588M | 505.56M | 433.24M | 376.34M | 366.18M | 316.51M | 295.06M | 308.06M | 285.32M | 251.18M | 237M | 1.19B | 1.17B | 1.05B | 953.15M | 989.26M | 1.05B | 921.22M | 44.57M | 442.8M | 311.83M | 1.6B | 274.56M | 0 | 0 |
| OpEx / Revenue % | 13.2% | 9.24% | 5.72% | 6.44% | 6.42% | 1.62% | 6.13% | 6.14% | 5.89% | 5.68% | 6.32% | 5.58% | 5.2% | 5.46% | 5.8% | 5.35% | 5.04% | 26.35% | 33.23% | 22.03% | 21.1% | 21.68% | 20.96% | 22.43% | 1.74% | 24.58% | 21.07% | 61.12% | 20.88% | 0% | 0% |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8.43M | 21.95M | 27.46M | 24.92M | 10.64M | -7.34M | 152K | 112K | 0 | 0 | 0 | 0 |
| Combined Ratio % | 86.18% | 88.72% | 91.25% | 85.11% | 95.09% | 86.37% | 93.89% | 86.65% | 103.29% | 93.67% | 81.02% | 80.41% | 75.58% | 72.43% | 80.91% | 104.98% | 87.44% | 79.12% | 102.37% | 78.5% | 78.05% | 106.16% | 88.85% | 88.04% | 89.75% | 94.99% | 84.34% | 92.48% | 83.83% | 25.13% | 4.83% |
| Operating Income | 2.31B | 1.95B | 1.5B | 2.15B | 588M | 1.54B | 586M | 1.1B | -242.18M | 419.41M | 1.1B | 1.11B | 1.39B | 1.55B | 939.53M | -233.95M | 591.24M | 939.32M | -83.61M | 1.03B | 991.75M | -280.92M | 559.7M | 491.21M | 262.04M | 90.34M | 231.74M | 196.58M | 212.68M | 972.7M | 1.11B |
| Operating Margin % | 13.82% | 11.28% | 8.75% | 14.89% | 4.91% | 13.63% | 6.11% | 13.35% | -3.29% | 6.33% | 18.98% | 19.59% | 24.42% | 27.57% | 19.09% | -4.98% | 12.56% | 20.88% | -2.37% | 21.5% | 21.95% | -6.16% | 11.15% | 11.96% | 10.25% | 5.01% | 15.66% | 7.52% | 16.17% | 74.87% | 95.17% |
| Operating Income Growth % | - | 30.7% | -30.59% | 266.33% | -61.92% | 163.48% | -46.68% | 553.79% | -157.74% | -61.87% | -1.08% | -19.82% | -10.81% | 65.51% | 501.6% | -139.57% | -37.06% | 1223.5% | -108.13% | 3.65% | 453.04% | -150.19% | 13.94% | 87.45% | 190.05% | -61.02% | 17.89% | -7.57% | -78.14% | -12.59% | - |
| EBITDA | 2.38B | 2.07B | 1.64B | 2.29B | 689M | 1.62B | 621M | 1.13B | -211.15M | 451.01M | 1.14B | 1.15B | 1.43B | 1.6B | 993.21M | -181.63M | 647.07M | 1.01B | -4.44M | 1.02B | 1.01B | -253.46M | 584.62M | 501.85M | 254.71M | 90.5M | 231.85M | 198.07M | 212.68M | 972.7M | 1.11B |
| EBITDA Margin % | 14.27% | 11.94% | 9.62% | 15.82% | 5.75% | 14.27% | 6.47% | 13.74% | -2.87% | 6.81% | 19.61% | 20.22% | 25.1% | 28.38% | 20.18% | -3.87% | 13.75% | 22.48% | -0.13% | 21.32% | 22.44% | -5.56% | 11.65% | 12.22% | 9.96% | 5.02% | 15.67% | 7.58% | 16.17% | 74.87% | 95.17% |
| Interest Expense | 135M | 139M | 149M | 134M | 101M | 70M | 36M | 31.69M | 31.03M | 31.6M | 36.23M | 36.19M | 38.53M | 46.12M | 53.68M | 52.32M | 55.83M | 72.08M | 79.17M | 91.56M | 68.6M | 72.96M | 75.54M | 57.29M | 44.57M | 46M | 39.39M | 1.49M | 0 | 0 | 0 |
| Non-Operating Income | -75M | -114M | -147M | -134M | -101M | -72M | -35M | -31.69M | -31.03M | -31.6M | -36.23M | -36.19M | -38.53M | -46.12M | -53.68M | -52.32M | -55.83M | -72.08M | -79.17M | -91.56M | -68.6M | -72.96M | -75.54M | -57.29M | -44.57M | -46M | -39.39M | -1.49M | 0 | 0 | 0 |
| Pretax Income | 2.29B | 1.93B | 1.49B | 2.15B | 588M | 1.55B | 585M | 1.1B | -242.18M | 419.41M | 1.1B | 1.11B | 1.39B | 1.55B | 939.53M | -233.95M | 591.24M | 939.32M | -83.61M | 1.03B | 991.75M | -280.92M | 559.7M | 491.21M | 262.04M | 90.34M | 231.74M | 196.58M | 212.68M | 207.3M | 143.8M |
| Pretax Margin % | 13.68% | 11.14% | 8.74% | 14.89% | 4.91% | 13.65% | 6.1% | 13.35% | -3.29% | 6.33% | 18.98% | 19.59% | 24.42% | 27.57% | 19.09% | -4.98% | 12.56% | 20.88% | -2.37% | 21.5% | 21.95% | -6.16% | 11.15% | 11.96% | 10.25% | 5.01% | 15.66% | 7.52% | 16.17% | 15.96% | 12.3% |
| Income Tax | 372M | 339M | 120M | -363M | -9M | 167M | 71M | 89.53M | -331.22M | -63.34M | 103.5M | 134.02M | 187.65M | 289.71M | 110.57M | -153.46M | -19.52M | 132.33M | -64.85M | 188.68M | 150.92M | -62.25M | 64.9M | 65.19M | 30.74M | -8.68M | 45.36M | 38.52M | 47.48M | 52.3M | 31.8M |
| Effective Tax Rate % | 16.28% | 17.57% | 8.04% | -16.85% | -1.53% | 10.8% | 12.14% | 8.15% | 136.77% | -15.1% | 9.41% | 12.05% | 13.53% | 18.63% | 11.77% | 65.6% | -3.3% | 14.09% | 77.56% | 18.35% | 15.22% | 22.16% | 11.6% | 13.27% | 11.73% | -9.6% | 19.57% | 19.6% | 22.32% | 25.23% | 22.11% |
| Net Income | 1.91B | 1.59B | 1.37B | 2.52B | 597M | 1.38B | 514M | 1.01B | 89.04M | 482.75M | 996.34M | 977.87M | 1.2B | 1.26B | 828.95M | -80.49M | 610.75M | 806.99M | -18.76M | 839.27M | 840.83M | -218.67M | 494.9M | 426.03M | 231.3M | 99.02M | 186.38M | 158.06M | 165.2M | 155M | 112M |
| Net Margin % | 11.45% | 9.19% | 8.04% | 17.4% | 4.98% | 12.17% | 5.36% | 12.26% | 1.21% | 7.29% | 17.2% | 17.23% | 21.12% | 22.33% | 16.84% | -1.71% | 12.98% | 17.94% | -0.53% | 17.55% | 18.61% | -4.79% | 9.86% | 10.37% | 9.04% | 5.5% | 12.59% | 6.05% | 12.56% | 11.93% | 9.58% |
| Net Income Growth % | 137.34% | 15.88% | -45.45% | 321.61% | -56.71% | 168.29% | -49.08% | 1033.7% | -81.56% | -51.55% | 1.89% | -18.45% | -4.78% | 51.92% | 1129.94% | -113.18% | -24.32% | 4402.11% | -102.24% | -0.18% | 484.52% | -144.18% | 16.17% | 84.19% | 133.6% | -46.87% | 17.92% | -4.32% | 6.58% | 38.39% | - |
| EPS (Diluted) | 47.49 | 37.86 | 31.78 | 60.24 | 15.19 | 34.62 | 12.78 | 24.70 | 2.53 | 11.36 | 23.68 | 22.10 | 25.91 | 25.44 | 15.79 | -1.49 | 10.70 | 13.22 | -0.30 | 13.19 | 12.87 | -3.79 | 8.71 | 7.74 | 4.52 | 2.10 | 4.02 | 3.25 | 8.14 | 7.97 | 6.07 |
| EPS Growth % | 147.11% | 19.13% | -47.24% | 296.58% | -56.12% | 170.89% | -48.26% | 876.28% | -77.73% | -52.03% | 7.15% | -14.7% | 1.85% | 61.11% | 1159.73% | -113.93% | -19.06% | 4506.67% | -102.27% | 2.49% | 439.58% | -143.51% | 12.53% | 71.24% | 115.24% | -47.76% | 23.69% | -60.07% | 2.13% | 31.3% | - |
| EPS (Basic) | - | 37.86 | 31.78 | 60.19 | 15.19 | 34.66 | 12.81 | 24.77 | 2.54 | 11.43 | 23.85 | 22.29 | 26.16 | 25.67 | 15.85 | -1.49 | 10.73 | 13.26 | -0.30 | 13.30 | 12.99 | -3.79 | 8.85 | 7.89 | 4.60 | 2.14 | 4.06 | 3.26 | 8.19 | 8.01 | 6.10 |
| Diluted Shares Outstanding | 40.28M | 41.41M | 42.7M | 41.3M | 39M | 39.3M | 39.73M | 40.42M | 40.93M | 41.28M | 42.08M | 44.25M | 46.28M | 49.5M | 52.5M | 54.02M | 57.08M | 61.04M | 61.67M | 63.63M | 65.32M | 57.65M | 56.82M | 55.01M | 51.14M | 47.11M | 46.36M | 48.69M | 50.66M | 50.77M | 50.68M |
Quick answers to the most common questions about buying EG stock.
For fiscal year 2025, Everest Group, Ltd. (EG) reported total revenue of $17.32B. This represents a 1381.1% increase compared to $1.17B in 1996.
Everest Group, Ltd. (EG) is profitable, generating $1.59B in net income for the fiscal year ending 2025 with a net profit margin of 9.2%.
Everest Group, Ltd. (EG) reported an operating income of $1.95B, resulting in an operating profit margin of 11.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Everest Group, Ltd. (EG) generated $3.55B in gross profit for the year, representing a gross profit margin of 20.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Catastrophe loss volatility
Metrics are mathematically derived from official filings.
Premium Growth Decelerates Sharply
Everest's revenue growth slowed from 24.2% in 2024Q1 to -10.1% in 2026Q2, indicating a sharp deceleration in premium expansion. According to quarterly filings, the reinsurer's top line contracted in recent quarters.
The deceleration from double-digit growth in 2024 to negative growth in 2026 suggests a softening pricing environment or a strategic pullback from certain lines. Investors should monitor whether this reflects disciplined underwriting in a competitive market or loss of market share.
Underwriting Profitability Remains Volatile
Combined ratios swung from 79.6% in 2024Q1 to 116.1% in 2024Q4, with 2026Q2 at 82.8% loss ratio. As reported in financial statements, Everest's underwriting results are highly sensitive to catastrophe losses.
The wide range in combined ratios highlights the inherent volatility of reinsurance underwriting. The 2024Q4 combined ratio of 116.1% indicates a significant underwriting loss, likely due to catastrophe events, while recent quarters show improvement. This volatility underscores the importance of capital strength and reinsurance protection.
Reserve Releases May Mask Underlying Trends
Prior-year reserve development appears favorable, as evidenced by the sharp swing from a 110% loss ratio in 2024Q4 to 54.5% in 2026Q1. Based on reported figures, reserve releases may be boosting current earnings.
The dramatic improvement in loss ratios from 2024Q4 to 2026Q1 could be partly attributed to favorable prior-year reserve development. While this is a positive sign of conservative reserving, investors should assess the sustainability of such releases and whether they are masking deterioration in current accident year underwriting.
Investment Income Contribution Unclear
Investment income data is unavailable for all quarters, leaving its contribution to earnings opaque. Given the absence of reported figures, investors should seek additional disclosure on this key profit driver.
The lack of investment income disclosure is notable, as it is a critical component of reinsurer profitability, especially when underwriting results are volatile. Without this data, it is difficult to assess the stability of earnings and the impact of market conditions on the investment portfolio.
2024Q4 Catastrophe Losses Mark Turning Point
The 2024Q4 combined ratio of 116.1% and net loss of $593M represent a clear inflection point, with subsequent quarters showing recovery. As per quarterly data, this period likely reflects major catastrophe losses.
The severe underwriting loss in 2024Q4, with a loss ratio of 110%, indicates a major catastrophe event or series of events. The subsequent improvement in 2025 and 2026 suggests a return to more normal loss experience, but the volatility highlights the need for robust risk management.
Earnings Quality Questioned by Volatility
Despite recent profitability, Everest's earnings quality is questionable given the extreme swings in net income, from -$593M in 2024Q4 to $653M in 2026Q1. Based on reported figures, this volatility may indicate reliance on favorable reserve development.
The sharp fluctuations in net income, including a 178% EPS growth in 2025Q4, suggest that earnings are not stable and may be influenced by one-time items or reserve adjustments. Investors should scrutinize the sustainability of underwriting margins and the potential for future adverse development.