Cincinnati Financial Corporation (CINF) 10-Year Financial Performance & Capital Metrics

CINF • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsuranceCommercial Lines InsuranceDiversified Commercial Lines

AboutCincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation. It also provides director and officer liability insurance, contract and commercial surety bonds, and fidelity bonds; and machinery and equipment coverage. The Personal Lines Insurance segment offers personal auto insurance; homeowner insurance; and dwelling fire, inland marine, personal umbrella liability, and watercraft coverages to individuals. The Excess and Surplus Lines Insurance segment offers commercial casualty insurance that covers businesses for third-party liability from accidents occurring on their premises or arising out of their operations, such as injuries sustained from products; and commercial property insurance, which insures buildings, inventory, equipment, and business income from loss or damage due to various causes, such as fire, wind, hail, water, theft, and vandalism. The Life Insurance segment provides term life insurance products; universal life insurance products; worksite products, such as term life; and whole life insurance products. The Investments segment invests in fixed-maturity investments, including taxable and tax-exempt bonds, and redeemable preferred stocks; and equity investments comprising common and nonredeemable preferred stocks. The company also offers commercial leasing and financing services; and insurance brokerage services. Cincinnati Financial Corporation was founded in 1950 and is headquartered in Fairfield, Ohio.Show more

Revenue $11.34B +13.2%
Combined Ratio 74.79% -3.2%
Net Income $2.29B +24.4%
Return on Equity 17.61% +8.2%
Medical Cost Ratio 50.6% -3.9%
Operating Margin 25.21% +10.9%
Net Margin 20.22% +9.8%
ROA 6.62% +12.2%
Equity / Assets 38.18% +3.4%
Book Value per Share 88.31 +15.4%
Tangible BV/Share 88.31 +15.4%
Debt/Equity 0.06 -13.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Profitable underwriting: 74.8% combined ratio
✓Strong Piotroski F-Score: 8/9
✓Low loss ratio of 50.6%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.65%

5Y7.43%

3Y5.6%

TTM-0.63%

Profit (Net Income) CAGR

10Y15.88%

5Y2.79%

3Y-8.25%

TTM-30.88%

EPS CAGR

10Y16.41%

5Y3.73%

3Y-7.06%

TTM-30.94%

ROCE

10Y Avg5.53%

5Y Avg6.3%

3Y Avg4.42%

Latest8.25%

Peer Comparison

Diversified Commercial Lines

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIGISelective Insurance Group, Inc.	5.01B	82.97	25.69	14.87%	7.78%	11.65%	21.33%	0.16
LLoews Corporation	21.32B	103.16	16.09	9.96%	8.07%	7.55%	11.22%	0.50
WRBW. R. Berkley Corporation	26.11B	68.71	15.76	12.32%	13.01%	19.44%	13.68%	0.34
THGThe Hanover Insurance Group, Inc.	6.05B	170.15	14.54	4.25%	9.75%	18.44%	13.15%	0.28
CBChubb Limited	118.5B	301.11	13.26	12%	16.48%	12.43%	13.66%	0.22
CNACNA Financial Corporation	12.56B	46.42	13.19	6.66%	6.84%	8.81%	19.71%	0.28
TRVThe Travelers Companies, Inc.	60.53B	271.34	12.64	12.22%	12.13%	18.58%	14.99%	0.29
AFGAmerican Financial Group, Inc.	11B	131.90	12.48	7.12%	9.7%	16.87%	10.47%	0.33

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	5.14B	5.45B	5.73B	5.41B	7.92B	7.54B	9.63B	6.56B	10.01B	11.34B
Revenue Growth %	0.04%	0.06%	0.05%	-0.06%	0.47%	-0.05%	0.28%	-0.32%	0.53%	0.13%
Medical Costs & Claims+	2.81B	3.11B	3.39B	3.49B	3.64B	4.13B	3.91B	5.02B	5.27B	5.74B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	2.33B	2.34B	2.34B	1.92B	4.29B	3.4B	5.72B	1.54B	4.74B	5.6B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.12%	0%	0%	-0.18%	1.24%	-0.21%	0.68%	-0.73%	2.07%	0.18%
Operating Expenses+	1.45B	1.53B	1.61B	1.67B	1.81B	1.9B	2.02B	2.24B	2.46B	2.74B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	52M	48M	55M	63M	72M	109M	118M	127M	112M	130M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	881M	812M	730M	251M	2.47B	1.5B	3.7B	-694M	2.28B	2.86B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.22%	-0.08%	-0.1%	-0.66%	8.85%	-0.39%	1.47%	-1.19%	4.28%	0.26%
EBITDA+	933M	860M	785M	314M	2.54B	1.61B	3.82B	-567M	2.39B	2.99B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	53M	53M	53M	53M	53M	54M	53M	53M	54M	53M
Non-Operating Income	-53M	-53M	-53M	-53M	-53M	-54M	-53M	-53M	-54M	-53M
Pretax Income+	881M	812M	730M	251M	2.47B	1.5B	3.7B	-694M	2.28B	2.86B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	247M	221M	-315M	-36M	475M	283M	730M	-207M	433M	566M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	634M	591M	1.04B	287M	2B	1.22B	2.97B	-487M	1.84B	2.29B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.21%	-0.07%	0.77%	-0.73%	5.96%	-0.39%	1.44%	-1.16%	4.78%	0.24%
EPS (Diluted)+	3.83	3.55	6.29	1.74	12.10	7.49	18.10	-3.06	11.66	14.53
EPS Growth %	0.2%	-0.07%	0.77%	-0.72%	5.95%	-0.38%	1.42%	-1.17%	4.81%	0.25%
EPS (Basic)	3.87	3.59	6.36	1.76	12.24	7.54	18.30	-3.06	11.74	14.65
Diluted Shares Outstanding	165.6M	166.5M	166M	164.5M	165.1M	162.4M	162.7M	158.8M	158.1M	157.8M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	18.89B	20.39B	21.84B	21.93B	25.41B	27.54B	31.39B	29.73B	32.77B	36.5B
Asset Growth %	0.01%	0.08%	0.07%	0%	0.16%	0.08%	0.14%	-0.05%	0.1%	0.11%
Total Investment Assets+	14.36B	15.42B	16.95B	16.61B	19.75B	21.54B	24.67B	22.43B	25.36B	28.38B
Long-Term Investments	14.36B	15.42B	16.95B	16.61B	19.45B	21.19B	24.34B	21.97B	24.78B	27.66B
Short-Term Investments	0	0	0	0	11.7B	12.34B	13.02B	12.13B	13.79B	16.48B
Total Current Assets+	544M	777M	657M	784M	0	0	0	0	0	0
Cash & Equivalents	544M	777M	657M	784M	767M	900M	1.14B	1.26B	907M	983M
Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-15.12B	-15.93B	-17.1B	-16.69B	-18.3B	-21.37B
Goodwill & Intangibles+	-571M	637M	670M	-504M	0	0	0	0	0	0
Goodwill	-1.19B	0	0	-1.24B	0	0	0	0	0	0
Intangible Assets	616M	637M	670M	738M	0	0	0	0	0	0
PP&E (Net)	185M	183M	185M	195M	207M	213M	205M	202M	208M	214M
Other Assets	0	-29.06B	-32B	0	-19.66B	-21.41B	-24.54B	-22.18B	-24.99B	-27.88B
Total Liabilities	12.46B	13.33B	13.6B	14.1B	15.54B	16.75B	18.28B	19.17B	20.67B	22.57B
Total Debt+	856M	846M	851M	866M	884M	899M	897M	891M	874M	875M
Net Debt	312M	69M	194M	82M	117M	-1M	-242M	-373M	-33M	-108M
Long-Term Debt	786M	787M	787M	788M	788M	788M	789M	789M	790M	790M
Short-Term Debt	35M	20M	24M	32M	39M	54M	54M	50M	25M	25M
Total Current Liabilities+	0	0	0	0	0	0	0	0	0	0
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	-35M	-20M	-24M	-32M	-39M	-54M	-54M	-50M	-25M	-25M
Deferred Taxes	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	7.23B	7.74B	12.77B	13.27B	-1.92B	-2.14B	-2.59B	-1.9B	-2.17B	-2.33B
Total Equity+	6.43B	7.06B	8.24B	7.83B	9.86B	10.79B	13.11B	10.56B	12.1B	13.94B
Equity Growth %	-0.02%	0.1%	0.17%	-0.05%	0.26%	0.09%	0.21%	-0.19%	0.15%	0.15%
Shareholders Equity	6.43B	7.06B	8.24B	7.83B	9.86B	10.79B	13.11B	10.56B	12.1B	13.94B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	4.76B	5.04B	5.18B	7.63B	9.26B	10.09B	12.63B	11.71B	13.08B	14.87B
Common Stock	397M	397M	397M	397M	397M	397M	397M	397M	397M	397M
Accumulated OCI	1.34B	1.69B	2.79B	22M	448M	769M	648M	-614M	-435M	-309M
Return on Equity (ROE)	0.1%	0.09%	0.14%	0.04%	0.23%	0.12%	0.25%	-0.04%	0.16%	0.18%
Return on Assets (ROA)	0.03%	0.03%	0.05%	0.01%	0.08%	0.05%	0.1%	-0.02%	0.06%	0.07%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.13x	0.12x	0.10x	0.11x	0.09x	0.08x	0.07x	0.08x	0.07x	0.06x
Book Value per Share	38.81	42.40	49.66	47.62	59.75	66.43	80.55	66.51	76.52	88.31
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.06B	1.1B	1.05B	1.18B	1.21B	1.49B	1.98B	2.05B	2.05B	2.65B
Operating CF Growth %	0.22%	0.04%	-0.05%	0.12%	0.02%	0.23%	0.33%	0.04%	0%	0.29%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	634M	591M	1.04B	287M	2B	1.22B	2.95B	-487M	1.84B	2.29B
Depreciation & Amortization	52M	48M	55M	63M	72M	81M	93M	127M	112M	130M
Stock-Based Compensation	20M	23M	26M	28M	30M	31M	33M	36M	0	0
Deferred Taxes	16M	38M	-444M	-47M	343M	136M	477M	-355M	223M	117M
Other Non-Cash Items	-26M	-76M	-100M	455M	-1.6B	-811M	-2.31B	1.5B	-1.06B	-1.32B
Working Capital Changes	368M	479M	470M	395M	362M	838M	740M	1.23B	937M	1.43B
Cash from Investing+	-624M	-456M	-558M	-451M	-679M	-560M	-1.06B	-933M	-1.61B	-1.7B
Capital Expenditures	-10M	-13M	-16M	-20M	-24M	-20M	-15M	-15M	-18M	-22M
Acquisitions	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-2.21B	-2.45B	-2.25B	-1.99B	-2.2B	-2.13B	-2.7B	-2.47B	-2.92B	-6.46B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	16M	13M	-9M	-8M	-5M	-15M	-2M	7M	-15M	-15M
Cash from Financing+	-487M	-414M	-614M	-603M	-546M	-798M	-685M	-994M	-801M	-877M
Dividends Paid	-366M	-306M	-400M	-336M	-355M	-375M	-395M	-423M	-454M	-490M
Share Repurchases	-53M	-39M	-92M	-125M	-67M	-261M	-144M	-410M	-67M	-126M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	-1000K	-1000K	1000K	1000K	1000K	1000K	0	-1000K	-1000K	0
Other Financing	-78M	-75M	-126M	-150M	-131M	-177M	-146M	-157M	-255M	-261M
Net Change in Cash+	-47M	233M	-120M	127M	-17M	133M	239M	125M	-357M	76M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	591M	544M	777M	657M	784M	767M	900M	1.14B	1.26B	907M
Cash at End	544M	777M	657M	784M	767M	900M	1.14B	1.26B	907M	983M
Free Cash Flow+	1.05B	1.09B	1.04B	1.16B	1.18B	1.47B	1.97B	2.04B	2.03B	2.63B
FCF Growth %	0.22%	0.03%	-0.05%	0.12%	0.02%	0.24%	0.34%	0.04%	-0%	0.29%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	6.36	6.55	6.24	7.06	7.17	9.06	12.08	12.83	12.87	16.65

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	82.87%	85.1%	87.26%	95.36%	68.8%	80.11%	61.58%	110.57%	77.27%	74.79%
Medical Cost Ratio	54.61%	57.02%	59.14%	64.55%	45.91%	54.86%	40.61%	76.47%	52.67%	50.6%
Return on Equity (ROE)	9.75%	8.76%	13.66%	3.57%	22.57%	11.78%	24.84%	-4.12%	16.27%	17.61%
Return on Assets (ROA)	3.37%	3.01%	4.95%	1.31%	8.44%	4.59%	10.07%	-1.59%	5.9%	6.62%
Equity / Assets	34.03%	34.63%	37.74%	35.71%	38.82%	39.17%	41.75%	35.52%	36.92%	38.18%
Book Value / Share	38.81	42.4	49.66	47.62	59.75	66.43	80.55	66.51	76.52	88.31
Debt / Equity	0.13x	0.12x	0.10x	0.11x	0.09x	0.08x	0.07x	0.08x	0.07x	0.06x
Revenue Growth	3.98%	5.97%	5.19%	-5.67%	46.55%	-4.9%	27.73%	-31.82%	52.57%	13.22%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Commercial Lines Insurance	-	-	-	-	-	3.48B	3.68B	4.03B	4.27B	4.49B
Commercial Lines Insurance Growth	-	-	-	-	-	-	5.72%	9.52%	5.96%	5.20%
Personal Lines Insurance	-	-	-	-	-	1.47B	1.55B	1.69B	2.05B	2.63B
Personal Lines Insurance Growth	-	-	-	-	-	-	5.39%	9.51%	20.97%	28.32%
Excess and Surplus Lines Insurance	169M	184M	210M	235M	280M	327M	400M	487M	545M	618M
Excess and Surplus Lines Insurance Growth	-	8.88%	14.13%	11.90%	19.15%	16.79%	22.32%	21.75%	11.91%	13.39%
Life Insurance Product Line	214M	233M	237M	254M	274M	291M	303M	299M	323M	326M
Life Insurance Product Line Growth	-	8.88%	1.72%	7.17%	7.87%	6.20%	4.12%	-1.32%	8.03%	0.93%
Investments	-	-	-	-	2.3B	-	-	-	-	-
Investments Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024

Frequently Asked Questions

Valuation & Price

Cincinnati Financial Corporation (CINF) has a price-to-earnings (P/E) ratio of 11.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Cincinnati Financial Corporation (CINF) grew revenue by 13.2% over the past year. This is steady growth.

Yes, Cincinnati Financial Corporation (CINF) is profitable, generating $2.12B in net income for fiscal year 2024 (20.2% net margin).

Dividend & Returns

Yes, Cincinnati Financial Corporation (CINF) pays a dividend with a yield of 1.90%. This makes it attractive for income-focused investors.

Cincinnati Financial Corporation (CINF) has a return on equity (ROE) of 17.6%. This is reasonable for most industries.

Industry Metrics

Cincinnati Financial Corporation (CINF) has a combined ratio of 74.8%. A ratio below 100% indicates underwriting profitability.

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