American Financial Group, Inc. (AFGE) 10-Year Financial Performance & Capital Metrics

AFGE • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsuranceCommercial Lines InsuranceDiversified Commercial Lines

AboutAmerican Financial Group, Inc. is an insurance holding company, which engages in property and casualty insurance, focusing on commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Its Property and Casualty Insurance Products include Property and Transportation, Specialty Casualty, and Specialty Financial. The company was founded by Carl Henry Lindner Jr. in 1959 and is headquartered in Cincinnati, OH.Show more

Revenue $8.01B +7.5%
Combined Ratio 0.51% +6.0%
Net Income $887M +4.1%
Return on Equity 20.33% -0.8%
Medical Cost Ratio 0%
Operating Margin 99.49%
Net Margin 11.07% -3.1%
ROA 2.93% -7.5%
Equity / Assets 14.48% +1.3%
Book Value per Share 53.23 +6.0%
Tangible BV/Share 47.18 +7.0%
Debt/Equity 0.33 -6.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.2%
✓Trading at only 0.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.55%

5Y6.04%

3Y8.76%

TTM0.94%

Profit (Net Income) CAGR

10Y6.97%

5Y-0.22%

3Y-13.91%

TTM-10.84%

EPS CAGR

10Y7.84%

5Y1.4%

3Y-5.74%

TTM-10.77%

ROCE

10Y Avg15.42%

5Y Avg27.26%

3Y Avg41.55%

Latest39.22%

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+	6.28B	6.45B	6.8B	6.99B	5.97B	5.58B	6.23B	6.81B	7.45B	8.01B
Revenue Growth %	0.11%	0.03%	0.05%	0.03%	-0.15%	-0.07%	0.12%	0.09%	0.09%	0.07%
Medical Costs & Claims+	134M	-46M	-64M	-161M	0	0	0	0	0	0
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	6.14B	6.5B	6.87B	7.15B	5.97B	5.58B	6.39B	6.81B	7.45B	8.01B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.08%	0.06%	0.06%	0.04%	-0.16%	-0.07%	0.15%	0.07%	0.09%	0.07%
Operating Expenses+	627M	690M	776M	825M	47M	47M	41M	36M	36M	41M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	134M	134M	107M	210M	0	0	187M	0	0	0
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	884M	968M	955M	728M	5.93B	5.53B	1.1B	6.77B	7.42B	7.97B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.21%	0.1%	-0.01%	-0.24%	7.14%	-0.07%	-0.8%	5.14%	0.09%	0.07%
EBITDA+	1.02B	1.1B	1.06B	938M	5.93B	5.53B	1.29B	6.77B	7.42B	7.97B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	74M	77M	85M	62M	68M	88M	94M	85M	76M	76M
Non-Operating Income	134M	-46M	-64M	-161M	5.93B	5.53B	-325M	6.77B	7.42B	7.97B
Pretax Income+	565M	787M	724M	639M	634M	339M	1.33B	1.12B	1.07B	1.12B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	195M	119M	247M	122M	143M	25M	254M	225M	221M	237M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	352M	649M	475M	530M	897M	732M	1.39B	898M	852M	887M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.22%	0.84%	-0.27%	0.12%	0.69%	-0.18%	0.9%	-0.35%	-0.05%	0.04%
EPS (Diluted)+	3.94	7.33	5.29	5.85	9.86	8.21	12.62	10.53	10.05	10.57
EPS Growth %	-0.21%	0.86%	-0.28%	0.11%	0.69%	-0.17%	0.54%	-0.17%	-0.05%	0.05%
EPS (Basic)	4.02	7.47	5.41	5.96	9.98	8.25	12.70	10.55	10.06	10.57
Diluted Shares Outstanding	89.4M	88.5M	89.8M	90.6M	91M	89.2M	85.6M	85.3M	84.8M	83.9M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	47.38B	52.45B	57.4B	60B	66.87B	69.89B	24.89B	24.09B	29.79B	30.84B
Asset Growth %	-0%	0.11%	0.09%	0.05%	0.11%	0.05%	-0.64%	-0.03%	0.24%	0.04%
Total Investment Assets+	947M	1.48B	1.8B	1.78B	2.84B	0	1.67B	1.83B	1.94B	0
Long-Term Investments	947M	1.48B	1.8B	1.78B	2.84B	0	1.67B	1.83B	1.94B	0
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Total Current Assets+	2.98B	5.15B	5.27B	5.16B	6.42B	3.57B	5.49B	3.53B	4.39B	2.53B
Cash & Equivalents	1.22B	2.11B	2.34B	1.51B	2.31B	1.67B	2.13B	872M	1.23B	1.41B
Receivables	1000K	1000K	1000K	1000K	1000K	0	0	0	0	1000K
Other Current Assets	0	0	0	0	6.42B	1.91B	4.22B	3.54B	5.56B	0
Goodwill & Intangibles+	439M	1.47B	1.44B	1.94B	1.29B	454M	552M	642M	518M	508M
Goodwill	199M	199M	199M	207M	207M	176M	246M	246M	305M	305M
Intangible Assets	240M	1.27B	1.24B	1.74B	1.08B	278M	306M	396M	213M	203M
PP&E (Net)	35.16B	35.16B	39.55B	41.67B	158M	139M	118M	103M	176M	212M
Other Assets	6.97B	8.14B	8.48B	8.58B	55.16B	65.34B	16.67B	17.61B	17.5B	-878M
Total Liabilities	42.61B	47.54B	52.06B	55.03B	60.6B	63.1B	19.87B	20.04B	25.53B	26.37B
Total Debt+	998M	1.28B	1.3B	1.3B	1.65B	2.12B	2.1B	1.61B	1.5B	1.48B
Net Debt	-222M	-824M	-1.04B	-213M	-661M	457M	-31M	740M	272M	69M
Long-Term Debt	998M	1.28B	1.3B	1.3B	1.47B	1.96B	1.96B	1.5B	1.5B	1.48B
Short-Term Debt	0	0	0	0	46M	0	38M	36M	0	0
Total Current Liabilities+	6.08B	6.46B	7.05B	7.14B	3.64B	7.91B	8.51B	9.03B	9.8B	10.19B
Accounts Payable	591M	634M	743M	752M	814M	807M	920M	1.03B	1.19B	0
Deferred Revenue	2.06B	2.17B	2.41B	2.6B	2.83B	0	0	0	0	0
Other Current Liabilities	5.49B	5.83B	6.31B	6.39B	-46M	7.1B	7.55B	7.96B	8.61B	10.19B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	0
Other Liabilities	34.87B	39.13B	43B	46.08B	0	0	8.99B	9.24B	24.03B	0
Total Equity+	4.77B	4.92B	5.33B	4.97B	6.27B	6.79B	5.01B	4.05B	4.26B	4.47B
Equity Growth %	-0.06%	0.03%	0.08%	-0.07%	0.26%	0.08%	-0.26%	-0.19%	0.05%	0.05%
Shareholders Equity	4.59B	4.92B	5.33B	4.97B	6.27B	6.79B	5.01B	4.05B	4.26B	4.47B
Minority Interest	178M	3M	1M	2M	0	0	0	0	0	0
Retained Earnings	2.99B	3.34B	3.25B	3.59B	4.01B	4.15B	3.48B	3.14B	3.12B	3.21B
Common Stock	87M	87M	88M	89M	90M	86M	85M	85M	84M	84M
Accumulated OCI	1.3B	375M	813M	48M	863M	1.27B	119M	-543M	-319M	-240M
Return on Equity (ROE)	0.07%	0.13%	0.09%	0.1%	0.16%	0.11%	0.24%	0.2%	0.21%	0.2%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.03%	0.04%	0.03%	0.03%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.21x	0.26x	0.24x	0.26x	0.26x	0.31x	0.42x	0.40x	0.35x	0.33x
Book Value per Share	53.36	55.58	59.37	54.88	68.89	76.11	58.55	47.50	50.21	53.23
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+	1.35B	1.15B	1.8B	2.08B	2.46B	2.18B	1.71B	1.15B	1.97B	1.15B
Operating CF Growth %	0.1%	-0.15%	0.57%	0.15%	0.18%	-0.11%	-0.21%	-0.33%	0.71%	-0.42%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	352M	649M	475M	530M	897M	325M	1.08B	898M	852M	887M
Depreciation & Amortization	-134M	134M	107M	210M	0	299M	0	100M	0	81M
Stock-Based Compensation	27M	28M	30M	23M	0	20M	0	19M	0	0
Deferred Taxes	0	0	0	0	0	-618M	0	-219M	0	0
Other Non-Cash Items	644M	875M	877M	1.52B	883M	1.74B	244M	308M	111M	-26M
Working Capital Changes	231M	-240M	559M	245M	676M	418M	389M	47M	1.01B	210M
Cash from Investing+	-4.57B	-3.3B	-3.29B	-5.35B	-3.06B	-1.56B	-436M	-1.05B	414M	95M
Capital Expenditures	-102M	-49M	-109M	-80M	-44M	-60M	-62M	-86M	-72M	-133M
Acquisitions	75M	-260M	55M	-20M	4M	-420M	1.45B	21M	-205M	21M
Purchase of Investments	-10.05B	-11.08B	-13.73B	-14.01B	-11.33B	-13.51B	-10.94B	-6.55B	-3.77B	-4.64B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-10M	-83M	2M	30M	-3M	-1M	32M	-4M	-6M	-5M
Cash from Financing+	3.1B	3.03B	1.72B	2.44B	1.41B	-123M	-1.96B	-1.36B	-2.03B	-1.07B
Dividends Paid	-176M	-185M	-417M	-394M	-444M	-334M	-2.37B	-1.21B	-684M	-788M
Share Repurchases	-126M	-133M	0	-6M	0	-313M	-319M	-11M	-213M	0
Stock Issued	61M	35M	37M	33M	36M	22M	66M	16M	15M	17M
Debt Issuance (Net)	-1000K	1000K	-1000K	0	1000K	1000K	0	-1000K	-1000K	0
Other Financing	3.45B	2.72B	2.17B	2.84B	1.65B	18M	670M	324M	-1.13B	-295M
Net Change in Cash+	-123M	887M	231M	-823M	799M	-649M	466M	-1.26B	353M	181M
Exchange Rate Effect	0	0	0	0	0	-1000K	1000K	0	0	0
Cash at Beginning	1.34B	1.22B	2.11B	2.34B	1.51B	2.31B	1.67B	2.13B	872M	1.23B
Cash at End	1.22B	2.11B	2.34B	1.51B	2.31B	1.67B	2.13B	872M	1.23B	1.41B
Free Cash Flow+	1.25B	1.1B	1.7B	2B	2.41B	2.12B	1.65B	1.07B	1.9B	1.02B
FCF Growth %	0.02%	-0.12%	0.54%	0.18%	0.2%	-0.12%	-0.22%	-0.35%	0.78%	-0.46%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	13.99	12.44	18.88	22.11	26.51	23.8	19.3	12.51	22.38	12.15

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	12.12%	9.98%	10.47%	9.5%	0.79%	0.84%	0.66%	0.53%	0.48%	0.51%
Medical Cost Ratio	2.13%	-0.71%	-0.94%	-2.3%	0%	0%	0%	0%	0%	0%
Return on Equity (ROE)	7.17%	13.4%	9.27%	10.29%	15.96%	11.21%	23.56%	19.81%	20.51%	20.33%
Return on Assets (ROA)	0.74%	1.3%	0.86%	0.9%	1.41%	1.07%	2.93%	3.67%	3.16%	2.93%
Equity / Assets	10.07%	9.38%	9.29%	8.29%	9.37%	9.71%	20.14%	16.82%	14.29%	14.48%
Book Value / Share	53.36	55.58	59.37	54.88	68.89	76.11	58.55	47.5	50.21	53.23
Debt / Equity	0.21x	0.26x	0.24x	0.26x	0.26x	0.31x	0.42x	0.40x	0.35x	0.33x
Revenue Growth	11.11%	2.76%	5.41%	2.76%	-14.52%	-6.61%	11.62%	9.36%	9.43%	7.49%

Revenue by Segment

	2011	2012	2013	2014	2019	2020	2021	2022	2023	2024
Property and Casualty Insurance	3.22B	3.19B	-	-	-	-	-	-	7.28B	7.83B
Property and Casualty Insurance Growth	-	-0.75%	-	-	-	-	-	-	-	7.59%
Corporate and Other	-	-	-	-	-	-	293M	376M	591M	496M
Corporate and Other Growth	-	-	-	-	-	-	-	28.33%	57.18%	-16.07%
Annuity	-	1.07B	1.1B	1.21B	1.9B	1.83B	-	-	-	-
Annuity Growth	-	-	3.19%	10.26%	56.51%	-3.68%	-	-	-	-
Run-off Long-term Care and Life	-	212M	-	-	-	-	-	-	-	-
Run-off Long-term Care and Life Growth	-	-	-	-	-	-	-	-	-	-
Medicare Supplement and Critical Illness	-	212M	-	-	-	-	-	-	-	-
Medicare Supplement and Critical Illness Growth	-	-	-	-	-	-	-	-	-	-
Other	78M	7M	-	-	-	-	-	-	-	-
Other Growth	-	-91.03%	-	-	-	-	-	-	-	-
Annuity and Supplemental Insurance	1.46B	-	-	-	-	-	-	-	-	-
Annuity and Supplemental Insurance Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

American Financial Group, Inc. (AFGE) has a price-to-earnings (P/E) ratio of 1.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

American Financial Group, Inc. (AFGE) grew revenue by 7.5% over the past year. This is steady growth.

Yes, American Financial Group, Inc. (AFGE) is profitable, generating $798.0M in net income for fiscal year 2024 (11.1% net margin).

Dividend & Returns

Yes, American Financial Group, Inc. (AFGE) pays a dividend with a yield of 16.62%. This makes it attractive for income-focused investors.

American Financial Group, Inc. (AFGE) has a return on equity (ROE) of 20.3%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

American Financial Group, Inc. (AFGE) has a combined ratio of 0.0%. A ratio below 100% indicates underwriting profitability.

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