Zacks Investment Research·4 days ago
American Financial's Strong Shareholder Returns Drive Investor AppealAFG's dividend growth, special payouts and buybacks highlight a shareholder-focused strategy backed by strong capital generation.
American Financial Group, Inc.(AFG)Earnings, Financials & Key Ratios
AFG•NYSE•Insurance & Managed Care
$139.18
13.8× P/E·Price updated Jun 27, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
AboutAmerican Financial Group, Inc., an insurance holding company, provides specialty property and casualty insurance products in the United States. It offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance. The company sells its property and casualty insurance products through independent insurance agents and brokers. American Financial Group, Inc. was founded in 1872 and is headquartered in Cincinnati, Ohio.Show more
- Revenue$8.17B-1.3%
- Combined Ratio86.87%+0.5%
- Net Income$842M-5.1%
- Return on Equity18.13%-10.8%
- Medical Cost Ratio53.68%-34.7%
- Operating Margin13.13%-3.3%
- Net Margin10.3%-3.9%
- ROA2.92%-18.3%
- Equity / Assets14.77%-17.3%
AFG Price & Volume
American Financial Group, Inc. (AFG) stock price & volume — 10-year historical chart
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Specialty Underwriting Volatility Masks Underlying Profitability
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strong
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Crop insurance volatility exposure
Key Thesis Takeaways
- American Financial Group demonstrates resilient underwriting capabilities, evidenced by a 2026Q1 combined ratio of 87.1%, though earnings remain highly sensitive to cyclical agricultural insurance exposures.
- While the company maintains a stable capital base with $4.7 billion in equity, investors should monitor the potential for adverse reserve development given the historical loss ratio fluctuations between 48.9% and 86.0%.
- The aggressive capital return strategy, including dividend payments that reached $403 million in 2024Q4, warrants caution regarding long-term cash flow sustainability relative to underwriting performance.
Verdict Logic
while the 5.2% dividend yield is attractive, the high PEG ratio of 3.30 and the historical volatility in operating cash flow relative to net income suggest that valuation may be stretched relative to earnings stability.
AFG Growth Metrics
American Financial Group, Inc. (AFG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.89%
5 Years7.59%
3 Years6.47%
TTM-1.08%
Profit CAGR
10 Years9.11%
5 Years2.84%
3 Years-2.12%
TTM10.01%
EPS CAGR
10 Years9.85%
5 Years4.19%
3 Years-1.45%
TTM10.6%
Return on Capital
10 Years3.05%
5 Years4.97%
3 Years5.62%
Last Year6.9%
AFG Recent Earnings
American Financial Group, Inc. (AFG) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$2.47-3.1%
$2.55
Rev
$1.7B-2.2%
$1.7B
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$3.65+14.8%
$3.18
Rev
$1.4B-23.9%
$1.9B
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$2.69+6.7%
$2.52
Rev
$2.3B+16.5%
$2.0B
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$2.14+2.9%
$2.08
Rev
$1.9B+1.9%
$1.9B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $2.47vs $2.55-3.1% | $1.7Bvs $1.7B-2.2% |
| Q1 2026 | Feb 3, 2026 | $3.65vs $3.18+14.8% | $1.4Bvs $1.9B-23.9% |
| Q4 2025 | Nov 4, 2025 | $2.69vs $2.52+6.7% | $2.3Bvs $2.0B+16.5% |
| Q3 2025 | Aug 5, 2025 | $2.14vs $2.08+2.9% | $1.9Bvs $1.9B+1.9% |
Based on last 12 quarters of dataView full earnings history →
Latest AFG News
Recent stock market news and headlines for American Financial Group, Inc. (AFG)
Zacks Investment Research·Jun 22, 2026
American Financial Outperforms Industry in a Year: Time to Buy?AFG stock is benefiting from pricing strength, underwriting discipline and strategic acquisitions that support long-term growth.
Peers Comparison
Key metrics vs top competitors for American Financial Group, Inc. (AFG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $139.18 | $11.56B | 13.81 | -1.26% | 10.3% | 18.13% | 5.21% | |
| $1920.06 | $24.03B | 11.35 | -0.96% | 10.7% | 9.56% | — | |
| $57.56 | $5.29B | 13.20 | 6.33% | 20.8% | 22% | — | |
| $133.89 | $36.82B | 10.05 | 7.1% | 14.13% | 22.01% | — | |
| $71.27 | $26.53B | 16.02 | 7.82% | 12.64% | 19.47% | — | |
| $184.08 | $28.66B | 12.13 | 11.41% | 21.34% | 17.98% | — |
Compare AFG vs Peers
American Financial Group, Inc. (AFG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
AFG SEC Filings & Documents
American Financial Group, Inc. (AFG) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 21, 2026·SEC
Material company update
Apr 30, 2026·SEC
Material company update
Feb 18, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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AFG Frequently Asked Questions
American Financial Group, Inc. (AFG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is American Financial Group, Inc. growing?
American Financial Group, Inc. (AFG) saw revenue decline by 1.3% over the past year.
Is AFG profitable?
Yes, American Financial Group, Inc. (AFG) is profitable, generating $879.0M in net income for fiscal year 2025 (10.3% net margin).
Dividend & Returns
Does AFG pay dividends?
Yes, American Financial Group, Inc. (AFG) pays a dividend with a yield of 5.21%. This makes it attractive for income-focused investors.
What is AFG's return on equity?
American Financial Group, Inc. (AFG) has a return on equity (ROE) of 18.1%. This is reasonable for most industries.
Industry Metrics
What is American Financial Group, Inc.'s combined ratio?
American Financial Group, Inc. (AFG) has a combined ratio of 86.9%. A ratio below 100% indicates underwriting profitability.