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CINFCincinnati Financial Corporation
$188.31$28.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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CINF logo

Cincinnati Financial Corporation

CINF
NASDAQ · Property & Casualty Insurers
$188.31
At close - Nov 6, 4:00 PM EDT - USD
Market Cap$28.9B
P/E12.4x
52W High$195.72
Volume855.71K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Volatile Underwriting Obscures Investment-Driven Earnings

Cincinnati Financial's earnings profile appears increasingly anchored to its equity-heavy investment portfolio rather than underwriting consistency, as evidenced by the combined ratio swinging from 105.0% in 2025Q1 to 63.1% in 2026Q2 before the $8.05 diluted E...

GrowthMixed
ProfitabilityModerate
ValuationReview
TechnicalsStrong
Explore valuation models
MARKET ACTION

CINF price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

-21% Peers

P/E is 21% below peer median

03

Market leadership

RS 73 · Avg

Average momentum (RS Rating: 73)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Jan 26
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue swung 65% peak-to-trough from $2.6B in 2025Q1 to $4.3B in 2026Q2 before falling 18.2% year-over-year in 2026Q3, while the combined ratio's 42-point swing between 105.0% and 63.1% suggests underwriting outcomes are being driven by episodic catastrophe and development effects rather than a stable pricing regime.

Analyst Consensus+5.1% target
Hold(17 analysts)
7 Buy9 Hold1 Sell

The Bull Case

Upside Catalysts

Strong Financial Performance

Cincinnati Financial reported a significant increase in net income for the first quarter of 2026, with operating income of $2.10 per share, surpassing analyst expectations. Earned premiums also saw a healthy increase, driven by premium growth initiatives and price adjustments.

Growth Strategies

The company is actively expanding its network of independent agencies and diversifying its product and service offerings. This includes leveraging technology like Generative AI to enhance efficiency and profitability in its commercial lines segment.

Investment Income Growth

Net investment income has shown a consistent increase, supported by higher interest income from fixed-maturity securities and a rise in equity portfolio dividends. This trend contributes positively to the overall financial health of the company.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/6/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CINF+18.35%
S&P 500 (^GSPC)+7.29%
1-Year Return
CINF+18.97%
S&P 500 (^GSPC)+9.35%
3-Year Return
CINF+98.38%
S&P 500 (^GSPC)+66.31%
5-Year Return
CINF+64.17%
S&P 500 (^GSPC)+54.36%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
12.4x
Forward P/E
21.0x
EV/EBITDA100th %ile
9.0x
FCF YieldCash Flow
10.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
12.4x
9.9x
100th· High
EV/EBITDA
9.0x
7.6x
100th· High
Price/FCF
9.3x
8.3x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$214.76+14.0%
Base (Fair)$399.67+120.5%
Bull$652.19+246.3%
$214.76 Bear$399.67 Base$652.19 Bull
Current Market Price: $188.31
Trades at a 52.9% discount to Base DCF ($399.67)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$12.63B+11.4% YoY
Net income
$2.39B+4.4% YoY
Free cash flow
$3.09B+17.7% YoY
Operating margin
23.6%-1.6 pts YoY
ROIC (TTM)15.3%
Avg ROIC 5Y-
ROE (TTM)16%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 26, 2026
$2.86+39.5%
vs $2.05
$3.0B+15.4%
vs $2.6B
Q3 2026
Jul 27, 2026
$1.43-22.3%
vs $1.84
$2.6B-2.8%
vs $2.7B
Q2 2026
Apr 27, 2026
$2.10+7.7%
vs $1.95
$2.6B-0.1%
vs $2.6B
Q1 2026
Feb 9, 2026
$3.37+16.2%
vs $2.90
$2.6B+1.5%
vs $2.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·Oct 26, 2026
Cincinnati Financial Reports Third-Quarter 2026 Results

CINCINNATI, Oct. 26, 2026 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today reported: Third-quarter 2026 net income of $459 million, or $2.96 per share, compared with $1.122 billion, or $7.11 per share, in the third quarter of 2025, after recognizing a less than $1 million third-quarter 2026 after-tax increase in the fair value of equity securities still held. Third-quarter 2026 non-GAAP operating income* of $443 million, or $2.86 per share, compared with $449 million, or $2.85 per share, in the third quarter of last year.

24/7 Wall Street·Oct 26, 2026
Forget Chasing High Yields: These 4 Dividend Kings Play the Long Game

Fifty-plus years of unbroken dividend raises sounds impressive until you ask whether the cash flow actually backs it up.

Fool - Investing News·Oct 25, 2026
5 Insurance Stocks to Buy for a Decade of Rising Dividends

These five insurance stocks each sport decades-long track records of consecutive annual dividend growth.

Zacks Investment Research·Oct 23, 2026
Is a Beat in Store for Cincinnati Financial This Earnings Season?

CINF's Q3 revenues are expected to have risen 5.5%, fueled by premium growth and investment income, but higher claims costs may weigh on profits.

Filtered for Cincinnati Financial CorporationMore Headlines
04

Compare before deciding

Benchmark CINF against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Cincinnati Financial Corporation (CINF)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CINF logoCINFCincinnati Financial CorporationCurrent
$188.31$28.9B12.4111.41%18.95%16.04%1.77%
CB logoCBChubb Limited
$371.63$144.14B14.446.47%17.96%13.98%—
TRV logoTRVThe Travelers Companies, Inc.
$402.89$84.03B14.695.17%17.03%26.24%—
HIG logoHIGThe Hartford Insurance Group, Inc.
$137.09$37.58B10.297.1%15.88%24.13%—
WRB logoWRBW. R. Berkley Corporation
$76.98$28.66B17.307.82%12.88%19.77%—
ERIE logoERIEErie Indemnity Company
$285.63$13.19B26.907.17%13.97%23.86%—

Compare CINF vs Peers

Cincinnati Financial Corporation (CINF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CB

Most directly comparable listed peer for CINF.

Scale Benchmark

vs PGR

Larger-name benchmark to compare CINF against a more recognizable public peer.

Peer Set

Compare Top 5

vs CB, TRV, HIG, WRB

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CINF SEC Filings & Documents

Cincinnati Financial Corporation (CINF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 26, 2026·SEC

Material company update

Sep 28, 2026·SEC

Material company update

Aug 21, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 24, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 26, 2026·SEC

FY 2026

Jul 27, 2026·SEC

FY 2026

Apr 27, 2026·SEC

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CINF Frequently Asked Questions

Cincinnati Financial Corporation (CINF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Cincinnati Financial Corporation growing?

Cincinnati Financial Corporation (CINF) grew revenue by 11.4% over the past year. This is steady growth.

Is CINF profitable?

Yes, Cincinnati Financial Corporation (CINF) is profitable, generating $2.66B in net income for fiscal year 2025 (18.9% net margin).

Dividend & Returns
Does CINF pay dividends?

Yes, Cincinnati Financial Corporation (CINF) pays a dividend with a yield of 1.77%. This makes it attractive for income-focused investors.

What is CINF's return on equity?

Cincinnati Financial Corporation (CINF) has a return on equity (ROE) of 16.0%. This is reasonable for most industries.

Industry Metrics
What is Cincinnati Financial Corporation's combined ratio?

Cincinnati Financial Corporation (CINF) has a combined ratio of 76.4%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in CINF back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →