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AFGEAmerican Financial Group, Inc.
$15.93$1.3B
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AFGE logoAmerican Financial Group, Inc.(AFGE)Earnings, Financials & Key Ratios

AFGE•NYSE•Insurance & Managed Care
1.6× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
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$8.17B+2.0%
  • Combined Ratio86.87%+16872.0%
  • Net Income$842M-5.1%
  • Return on Equity18.13%-10.8%
  • Medical Cost Ratio53.68%
  • Operating Margin13.13%-86.8%
  • Net Margin10.3%-7.0%
  • ROA2.65%-9.4%
  • Equity / Assets14.76%+1.9%

AFGE Key Insights

American Financial Group, Inc. (AFGE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 86.9% combined ratio
  • ✓Low loss ratio of 53.7%
  • ✓Good 3Y average ROE of 19.7%
  • ✓Trading at only 0.3x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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AFGE Price & Volume

American Financial Group, Inc. (AFGE) stock price & volume — 10-year historical chart

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AFGE Growth Metrics

American Financial Group, Inc. (AFGE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years2.67%
5 Years7.94%
3 Years6.27%
TTM-0.22%

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%
TTM10.71%

Return on Capital

10 Years15.55%
5 Years26.17%
3 Years28.31%
Last Year3.38%

AFGE Recent Earnings

American Financial Group, Inc. (AFGE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (55%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$2.29-9.1%
$2.52
Rev
$1.9B+9.2%
$1.7B
Q1 2026
Feb 3, 2026
Metric
Actual
Est
EPS
$3.65+11.6%
$3.27
Rev
$1.8B-4.8%
$1.9B
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$2.69+6.7%
$2.52
Rev
$2.0B+1.8%
$2.0B
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$2.14+1.9%
$2.10
Rev
$1.6B-3.8%
$1.7B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$2.29vs $2.52-9.1%
$1.9Bvs $1.7B+9.2%
Q1 2026Feb 3, 2026
$3.65vs $3.27+11.6%
$1.8Bvs $1.9B-4.8%
Q4 2025Nov 4, 2025
$2.69vs $2.52+6.7%
$2.0Bvs $2.0B+1.8%
Q3 2025Aug 5, 2025
$2.14vs $2.10+1.9%
$1.6Bvs $1.7B-3.8%
Based on last 12 quarters of dataView full earnings history →

AFGE Peer Comparison

American Financial Group, Inc. (AFGE) competitors in Specialty and excess surplus insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MKL logoMKLMarkel CorporationDirect Competitor23.11B1847.1610.92-0.96%10.7%9.56%0.23
RLI logoRLIRLI Corp.Direct Competitor4.88B53.0912.186.33%20.8%22%0.06
HIG logoHIGThe Hartford Financial Services Group, Inc.Direct Competitor35.27B128.259.637.1%14.13%22.01%0.23
WRB logoWRBW. R. Berkley CorporationDirect Competitor25.16B67.1815.107.82%12.1%18.86%0.29
CINF logoCINFCincinnati Financial CorporationDirect Competitor26.5B170.2011.2211.41%21.34%17.98%0.06
ERIE logoERIEErie Indemnity CompanyDirect Competitor10.21B221.1420.827.17%13.2%25.03%
AIG logoAIGAmerican International Group, Inc.Product Competitor39.72B74.0213.63-1.82%11.86%7.7%0.22
TRV logoTRVThe Travelers Companies, Inc.Product Competitor66.56B307.8111.225.17%12.88%19.12%0.28

Compare AFGE vs Peers

American Financial Group, Inc. (AFGE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MKL

Most directly comparable listed peer for AFGE.

Scale Benchmark

vs CB

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

Peer Set

Compare Top 5

vs MKL, RLI, HIG, WRB

AFGE Income Statement

American Financial Group, Inc. (AFGE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
6.8B6.99B5.97B5.58B6.23B6.81B7.45B8.01B8.17B8.08B
Revenue Growth %
5.41%2.76%-14.52%-6.61%11.62%9.36%9.43%7.49%2.05%-0.22%
Medical Costs & Claims
-64M-161M0000004.39B1.06B
Medical Cost Ratio %
-0.94%-2.3%0%0%0%0%0%0%53.68%13.12%
Gross Profit
6.87B▲ 0%
7.15B▲ 4.2%
5.97B▼ 16.4%
5.58B▼ 6.6%
6.39B▲ 14.6%
6.81B▲ 6.5%
7.45B▲ 9.4%
8.01B▲ 7.5%
3.79B▼ 52.7%
2.87B▲ 0%
Gross Margin %
100.94%102.3%100%100%102.67%100%100%100%46.32%35.45%
Gross Profit Growth %
5.65%4.15%-16.45%-6.61%14.59%6.52%9.43%7.49%-52.73%-
Operating Expenses
776M825M47M47M41M36M36M41M2.71B623M
OpEx / Revenue %
11.41%11.8%0.79%0.84%0.66%0.53%0.48%0.51%33.19%7.71%
Depreciation & Amortization
107M210M00187M00086M42M
Combined Ratio %
10.47%9.5%0.79%0.84%0.66%0.53%0.48%0.51%86.87%20.83%
Operating Income
955M▲ 0%
728M▼ 23.8%
5.93B▲ 714.1%
5.53B▼ 6.7%
1.1B▼ 80.0%
6.77B▲ 513.6%
7.42B▲ 9.5%
7.97B▲ 7.5%
1.07B▼ 86.5%
2.5B▲ 0%
Operating Margin %
14.04%10.42%99.21%99.16%17.73%99.47%99.52%99.49%13.13%30.95%
Operating Income Growth %
-1.34%-23.77%714.15%-6.66%-80.04%513.59%9.48%7.46%-86.54%-
EBITDA
1.06B938M5.93B5.53B1.29B6.77B7.42B7.97B1.16B2.54B
EBITDA Margin %
15.62%13.42%99.21%99.16%20.73%99.47%99.52%99.49%14.18%31.47%
Interest Expense
85M62M68M88M94M85M76M76M80M84M
Non-Operating Income
-64M-161M5.93B5.53B-325M6.77B7.42B7.97B-80M1.81B
Pretax Income
724M▲ 0%
639M▼ 11.7%
634M▼ 0.8%
339M▼ 46.5%
1.33B▲ 293.8%
1.12B▼ 15.9%
1.07B▼ 4.5%
1.12B▲ 4.8%
1.07B▼ 4.9%
1.11B▲ 0%
Pretax Margin %
10.65%9.14%10.61%6.08%21.44%16.49%14.4%14.03%13.08%13.79%
Income Tax
247M122M143M25M254M225M221M237M231M236M
Effective Tax Rate %
34.12%19.09%22.56%7.37%19.03%20.04%20.6%21.09%21.61%21.17%
Net Income
475M▲ 0%
530M▲ 11.6%
897M▲ 69.2%
732M▼ 18.4%
1.39B▲ 89.9%
898M▼ 35.4%
852M▼ 5.1%
887M▲ 4.1%
842M▼ 5.1%
879M▲ 0%
Net Margin %
6.98%7.58%15.02%13.12%22.32%13.19%11.43%11.07%10.3%10.87%
Net Income Growth %
-26.81%11.58%69.25%-18.39%89.89%-35.4%-5.12%4.11%-5.07%10.01%
EPS (Diluted)
5.29▲ 0%
5.85▲ 10.6%
9.86▲ 68.5%
8.21▼ 16.7%
12.62▲ 53.7%
10.53▼ 16.6%
10.05▼ 4.6%
10.57▲ 5.2%
10.08▼ 4.6%
10.55▲ 0%
EPS Growth %
-27.83%10.59%68.55%-16.73%53.72%-16.56%-4.56%5.17%-4.64%10.71%
EPS (Basic)
5.415.969.988.2512.7010.5510.0610.5710.08-
Diluted Shares Outstanding
89.8M90.6M91M89.2M85.6M85.3M84.8M83.9M83.5M83.3M

AFGE Balance Sheet

American Financial Group, Inc. (AFGE) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
57.4B60B66.87B69.89B24.89B24.09B29.79B30.84B32.66B32.35B
Asset Growth %
9.42%4.55%11.44%4.52%-64.4%-3.19%23.65%3.52%5.91%45.7%
Total Investment Assets
1.8B1.78B2.84B01.67B1.83B1.94B015.46B1000K
Long-Term Investments
1.8B1.78B2.84B01.67B1.83B1.94B015.46B15.46B
Short-Term Investments
0000000000
Total Current Assets
5.27B5.16B6.42B3.57B5.49B3.53B4.39B2.53B18.39B2.41B
Cash & Equivalents
2.34B1.51B2.31B1.67B2.13B872M1.23B1.41B17.18B1.35B
Receivables
1.15B1.23B1.33B00001.12B1.21B5.22B
Other Current Assets
006.42B1.91B4.22B3.54B5.56B000
Goodwill & Intangibles
1.44B1.94B1.29B454M552M642M518M508M516M1.29B
Goodwill
199M207M207M176M246M246M305M305M327M327M
Intangible Assets
1.24B1.74B1.08B278M306M396M213M203M189M0
PP&E (Net)
39.55B41.67B158M139M118M103M176M212M00
Other Assets
8.48B8.58B55.16B65.34B16.67B17.61B17.5B-878M-15.64B0
Total Liabilities
52.06B55.03B60.6B63.1B19.87B20.04B25.53B26.37B27.84B27.68B
Total Debt
1.3B1.3B1.65B2.12B2.1B1.61B1.5B1.48B1.82B1.82B
Net Debt
-1.04B-213M-661M457M-31M740M272M69M-15.36B467M
Long-Term Debt
1.3B1.3B1.47B1.96B1.96B1.5B1.5B1.48B1.82B1.82B
Short-Term Debt
0046M038M36M0039M0
Total Current Liabilities
7.05B7.14B3.64B7.91B8.51B9.03B9.8B10.19B00
Accounts Payable
743M752M814M807M920M1.03B1.19B000
Deferred Revenue
2.41B2.6B2.83B0000000
Other Current Liabilities
6.31B6.39B-46M7.1B7.55B7.96B8.61B10.19B-39M0
Deferred Taxes
1000K1000K1000K01000K1000K1000K000
Other Liabilities
43B46.08B008.99B9.24B24.03B000
Total Equity
5.33B▲ 0%
4.97B▼ 6.7%
6.27B▲ 26.1%
6.79B▲ 8.3%
5.01B▼ 26.2%
4.05B▼ 19.2%
4.26B▲ 5.1%
4.47B▲ 4.9%
4.82B▲ 7.9%
4.68B▲ 0%
Equity Growth %
8.38%-6.73%26.09%8.29%-26.17%-19.15%5.08%4.88%7.93%17.92%
Shareholders Equity
5.33B4.97B6.27B6.79B5.01B4.05B4.26B4.47B4.82B4.68B
Minority Interest
1M2M00000000
Retained Earnings
3.25B3.59B4.01B4.15B3.48B3.14B3.12B3.21B3.36B3.29B
Common Stock
88M89M90M86M85M85M84M84M83M83M
Accumulated OCI
813M48M863M1.27B119M-543M-319M-240M-50M-127M
Return on Equity (ROE)
9.27%10.29%15.96%11.21%23.56%19.81%20.51%20.33%18.13%18.76%
Return on Assets (ROA)
0.86%0.9%1.41%1.07%2.93%3.67%3.16%2.93%2.65%2.71%
Equity / Assets
9.29%8.29%9.37%9.71%20.14%16.82%14.29%14.48%14.76%14.46%
Debt / Equity
0.24x0.26x0.26x0.31x0.42x0.40x0.35x0.33x0.38x0.39x
Book Value per Share
59.3754.8868.8976.1158.5547.5050.2153.2357.7256.16
Tangible BV per Share
43.3233.4354.7571.0252.1039.9844.1047.1851.5452.23

AFGE Cash Flow Statement

American Financial Group, Inc. (AFGE) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
1.8B2.08B2.46B2.18B1.71B1.15B1.97B1.15B1.53B1.67B
Operating CF Growth %
56.87%15.47%17.91%-11.12%-21.48%-32.73%70.86%-41.52%33.07%319.02%
Operating CF / Revenue %
26.53%29.8%41.11%39.13%27.53%16.93%26.44%14.38%18.75%20.6%
Net Income
475M530M897M325M1.08B898M852M887M842M879M
Depreciation & Amortization
107M210M0299M0100M081M86M69M
Stock-Based Compensation
30M23M020M019M0008M
Deferred Taxes
000-618M0-219M0000
Other Non-Cash Items
877M1.52B883M1.74B244M308M111M-26M-5M389M
Working Capital Changes
559M245M676M418M389M47M1.01B210M610M320M
Cash from Investing
-3.29B-5.35B-3.06B-1.56B-436M-1.05B414M95M-835M-845M
Capital Expenditures
-109M-80M-44M-60M-62M-86M-72M-133M0-41M
Acquisitions
55M-20M4M-420M1.45B21M-205M21M0-4M
Purchase of Investments
-13.73B-14.01B-11.33B-13.51B-10.94B-6.55B-3.77B-4.64B-2.1B-2.66B
Sale/Maturity of Investments
10.49B8.73B8.31B12.43B9.08B5.57B4.46B4.85B2.15B2.49B
Other Investing
2M30M-3M-1M32M-4M-6M-5M-889M-634M
Cash from Financing
1.72B2.44B1.41B-123M-1.96B-1.36B-2.03B-1.07B-377M-117M
Dividends Paid
-417M-394M-444M-334M-2.37B-1.21B-684M-788M-606M-571M
Share Repurchases
0-6M0-313M-319M-11M-213M0-99M-101M
Stock Issued
37M33M36M22M66M16M15M17M12M11M
Debt Issuance (Net)
-1000K01000K1000K0-1000K-1000K01000K1000K
Other Financing
2.17B2.84B1.65B18M670M324M-1.13B-295M-28M142M
Net Change in Cash
231M▲ 0%
-823M▼ 456.3%
799M▲ 197.1%
-649M▼ 181.2%
466M▲ 171.8%
-1.26B▼ 370.2%
353M▲ 128.0%
181M▼ 48.7%
321M▲ 77.3%
77M▲ 0%
Exchange Rate Effect
000-1.15B1.15B00000
Cash at Beginning
2.11B2.34B1.51B2.31B1.67B2.13B872M1.23B1.41B1.73B
Cash at End
2.34B1.51B2.31B1.67B2.13B872M1.23B1.41B1.73B1.35B
Free Cash Flow
1.7B▲ 0%
2B▲ 18.2%
2.41B▲ 20.4%
2.12B▼ 12.0%
1.65B▼ 22.2%
1.07B▼ 35.4%
1.9B▲ 77.9%
1.02B▼ 46.3%
1.4B▲ 37.2%
1.59B▲ 0%
FCF Growth %
53.95%18.17%20.42%-11.98%-22.19%-35.41%77.88%-46.31%37.19%14.08%
FCF Margin %
24.92%28.66%40.37%38.05%26.53%15.67%25.47%12.72%17.1%19.64%
FCF per Share
18.8822.1126.5123.819.312.5122.3812.1516.7419.06

AFGE Key Ratios

American Financial Group, Inc. (AFGE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio
10.47%9.5%0.79%0.84%0.66%0.53%0.48%0.51%86.87%20.83%
Medical Cost Ratio
-0.94%-2.3%0%0%0%0%0%0%53.68%13.12%
Return on Equity (ROE)
9.27%10.29%15.96%11.21%23.56%19.81%20.51%20.33%18.13%18.76%
Return on Assets (ROA)
0.86%0.9%1.41%1.07%2.93%3.67%3.16%2.93%2.65%2.71%
Equity / Assets
9.29%8.29%9.37%9.71%20.14%16.82%14.29%14.48%14.76%14.46%
Book Value / Share
59.3754.8868.8976.1158.5547.550.2153.2357.7256.16
Debt / Equity
0.24x0.26x0.26x0.31x0.42x0.40x0.35x0.33x0.38x0.39x
Revenue Growth
5.41%2.76%-14.52%-6.61%11.62%9.36%9.43%7.49%2.05%-0.22%
Related:AFGE Dividend History·AFGE Revenue History·AFGE Price History·AFGE P/E History·AFGE Financial Ratios·AFGE Institutional Holders

AFGE SEC Filings & Documents

American Financial Group, Inc. (AFGE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 30, 2026·SEC

Material company update

Feb 18, 2026·SEC

Material company update

Feb 4, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

AFGE Frequently Asked Questions

American Financial Group, Inc. (AFGE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

American Financial Group, Inc. (AFGE) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, American Financial Group, Inc. (AFGE) is profitable, generating $879.0M in net income for fiscal year 2025 (10.3% net margin).

Dividend & Returns

Yes, American Financial Group, Inc. (AFGE) pays a dividend with a yield of 45.56%. This makes it attractive for income-focused investors.

American Financial Group, Inc. (AFGE) has a return on equity (ROE) of 18.1%. This is reasonable for most industries.

Industry Metrics

American Financial Group, Inc. (AFGE) has a combined ratio of 86.9%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in AFGE back in 2003?

Total return calculator · dividends reinvested · 23+ years of data

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How much would $100/month in AFGE be worth today?

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