United Fire Group, Inc. (UFCS) 10-Year Financial Performance & Capital Metrics

UFCS • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsurancePersonal Lines InsuranceRegional Personal Lines

AboutUnited Fire Group, Inc., together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal lines of property and casualty insurance; and commercial multiple peril and inland marine insurance, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and fidelity and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners. The company sells its products through a network of independent agencies. United Fire Group, Inc. was founded in 1946 and is headquartered in Cedar Rapids, Iowa.Show more

Revenue $1.25B +14.0%
Combined Ratio 93.85% -9.4%
Net Income $62M +308.6%
Return on Equity 8.18% +302.9%
Medical Cost Ratio 81.95% -11.3%
Operating Margin 6.15% +270.2%
Net Margin 4.95% +283.0%
ROA 1.87% +289.5%
Equity / Assets 22.4% -4.0%
Book Value per Share 30.15 +3.8%
Tangible BV/Share 30.00 +3.9%
Debt/Equity 0.15 +119.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 93.8% combined ratio
✓Strong 5Y profit CAGR of 33.1%
✓Trading at only 1.2x book value

✗Weaknesses

✗Weak 3Y average ROE of 2.0%
✗High loss ratio of 82.0%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y2.91%

5Y0.85%

3Y5.82%

TTM11.83%

Profit (Net Income) CAGR

10Y0.47%

5Y33.12%

3Y-8.39%

TTM122.01%

EPS CAGR

10Y0.3%

5Y32.74%

3Y-8.89%

TTM118.56%

ROCE

10Y Avg0.45%

5Y Avg-0.21%

3Y Avg0.45%

Latest2.32%

Peer Comparison

Regional Personal Lines

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NODKNI Holdings, Inc.	274.26M	13.31	55.46	6.97%	0.87%	1.06%	13.68%
HMNHorace Mann Educators Corporation	1.74B	42.88	17.29	8.21%	10.24%	11.39%	25.91%	0.42
SAFTSafety Insurance Group, Inc.	1.14B	76.49	16.00	19.85%	7.13%	9.7%	10.91%	0.06
UFCSUnited Fire Group, Inc.	912.14M	35.75	14.96	13.98%	8.22%	12.38%	36.01%	0.15
DGICADonegal Group Inc.	608.25M	19.58	12.80	6.71%	8.72%	13.73%	11.09%	0.06
MCYMercury General Corporation	5.06B	91.39	10.82	18.27%	7.55%	19.69%	19.58%	0.30
KINSKingstone Companies, Inc.	225.09M	15.91	10.75	7.6%	14.2%	0.02%	24.71%	0.17
KMPRKemper Corporation	2.26B	38.61	7.86	-5.74%	5.14%	9.14%	14.59%	0.50

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	896.96M	986.18M	1.06B	1.08B	1.2B	1.08B	1.06B	988.22M	1.1B	1.25B
Revenue Growth %	-0.05%	0.1%	0.07%	0.02%	0.11%	-0.1%	-0.02%	-0.06%	0.11%	0.14%
Medical Costs & Claims+	723.95M	875.4M	933.46M	937.84M	1.05B	1.08B	855.59M	850.38M	1.01B	1.03B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	173.01M	110.78M	122.09M	142.44M	153.18M	-1.46M	200.91M	137.84M	83.93M	225.92M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.02%	-0.36%	0.1%	0.17%	0.08%	-1.01%	138.7%	-0.31%	-0.39%	1.69%
Operating Expenses+	57.64M	53.28M	106.44M	151.59M	136.3M	168.06M	104.06M	125.76M	123.65M	148.88M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	6.47M	6.04M	4.57M	5.17M	11.19M	6.66M	6.57M	7.67M	10.51M	10.9M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	115.37M	57.5M	15.65M	-9.15M	16.88M	-169.51M	96.84M	12.08M	-39.72M	77.03M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.51%	-0.5%	-0.73%	-1.58%	2.84%	-11.04%	1.57%	-0.88%	-4.29%	2.94%
EBITDA+	121.84M	63.53M	20.22M	-3.98M	28.07M	-162.86M	103.41M	19.75M	-29.21M	87.94M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	0	0	0	0	0	0	3.19M	3.19M	3.26M	7.28M
Non-Operating Income	0	0	0	0	0	0	-3.19M	-3.19M	-3.26M	-7.28M
Pretax Income+	115.37M	57.5M	15.65M	-9.15M	16.88M	-169.51M	96.84M	12.08M	-39.72M	77.03M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	30.05M	8.38M	-29.22M	-11.4M	2.06M	-56.81M	16.25M	-2.95M	-10.02M	15.08M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	89.13M	49.9M	51.02M	27.65M	14.82M	-112.71M	80.59M	15.03M	-29.7M	61.96M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.51%	-0.44%	0.02%	-0.46%	-0.46%	-8.6%	1.72%	-0.81%	-2.98%	3.09%
EPS (Diluted)+	3.53	1.93	1.99	1.08	0.58	-4.50	3.16	0.59	-1.18	2.39
EPS Growth %	0.52%	-0.45%	0.03%	-0.46%	-0.46%	-8.76%	1.7%	-0.81%	-3%	3.03%
EPS (Basic)	3.54	1.96	2.05	1.10	0.59	-4.50	3.21	0.60	-1.18	2.45
Diluted Shares Outstanding	25.24M	25.8M	25.64M	25.62M	25.58M	25.03M	25.09M	25.32M	25.25M	25.92M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	3.89B	4.05B	4.18B	2.82B	3.01B	3.07B	3.01B	2.88B	3.14B	3.49B
Asset Growth %	0.01%	0.04%	0.03%	-0.33%	0.07%	0.02%	-0.02%	-0.04%	0.09%	0.11%
Total Investment Assets+	3.14B	1.77B	1.89B	2.07B	175K	2.15B	2.06B	275K	100K	2.09B
Long-Term Investments	0	0	0	0	0	2.03B	1.93B	0	0	1.87B
Short-Term Investments	175K	175K	175K	175K	175K	175K	275K	275K	100K	926.97M
Total Current Assets+	383.14M	417.23M	424.25M	411.45M	478.53M	0	0	462.65M	566.94M	0
Cash & Equivalents	106.45M	110.85M	95.56M	64.45M	120.72M	87.95M	132.1M	96.65M	102.05M	200.95M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	0	-645.11M	-618.67M	0	0	-1.87B
Goodwill & Intangibles+	25.51M	24.74M	23.97M	23.25M	22.54M	6.74M	6.03M	5.32M	4.62M	3.91M
Goodwill	15.09M	15.09M	15.09M	15.09M	15.09M	0	0	0	0	0
Intangible Assets	10.42M	9.65M	8.88M	8.16M	7.45M	6.74M	6.03M	5.32M	4.62M	3.91M
PP&E (Net)	53.24M	55.52M	68.99M	97.19M	116.99M	129.87M	137.7M	133.11M	134.25M	136.02M
Other Assets	0	0	0	0	0	-2.17B	-2.08B	0	0	-2.01B
Total Liabilities	3.01B	3.11B	3.21B	1.93B	2.1B	2.24B	2.13B	2.14B	2.41B	2.71B
Total Debt+	0	0	0	0	0	50M	50M	50M	50M	117.06M
Net Debt	-106.45M	-110.85M	-95.56M	-64.45M	-120.72M	-37.95M	-82.1M	-46.65M	-52.05M	-83.89M
Long-Term Debt	0	0	0	0	0	50M	50M	50M	50M	117.06M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities+	4.92M	1.21B	1.33B	1.37B	139.65M	0	0	1.46B	142.64M	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	-200.6M	1.06B	1.16B	1.25B	0	-126.62M	-102.85M	1.36B	0	0
Deferred Taxes	0	0	1000K	0	1000K	1000K	1000K	0	0	0
Other Liabilities	3.01B	2.97B	3.2B	1.81B	1.94B	-74.93M	-76.75M	2B	2.22B	-117.06M
Total Equity+	878.9M	941.88M	973.37M	888.38M	910.47M	825.15M	879.12M	740.11M	733.75M	781.53M
Equity Growth %	0.08%	0.07%	0.03%	-0.09%	0.02%	-0.09%	0.07%	-0.16%	-0.01%	0.07%
Shareholders Equity	878.9M	941.88M	973.37M	888.38M	910.47M	825.15M	879.12M	740.11M	733.75M	781.53M
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	591.01M	616.32M	608.7M	715.47M	697.12M	555.85M	621.38M	620.55M	574.69M	620.44M
Common Stock	25K	25K	25K	25K	25K	25K	25K	25K	25K	25K
Accumulated OCI	80.44M	109.06M	168.31M	-30.47M	13.15M	66.91M	54.34M	-87.5M	-50.96M	-54.78M
Return on Equity (ROE)	0.11%	0.05%	0.05%	0.03%	0.02%	-0.13%	0.09%	0.02%	-0.04%	0.08%
Return on Assets (ROA)	0.02%	0.01%	0.01%	0.01%	0.01%	-0.04%	0.03%	0.01%	-0.01%	0.02%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	-	-	-	-	-	0.06x	0.06x	0.07x	0.07x	0.15x
Book Value per Share	34.83	36.50	37.96	34.67	35.59	32.97	35.04	29.23	29.06	30.15
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+	190M	214.38M	170.09M	110.1M	93.75M	41.44M	29.92M	-1.25M	171.74M	340.3M
Operating CF Growth %	0.26%	0.13%	-0.21%	-0.35%	-0.15%	-0.56%	-0.28%	-1.04%	138.28%	0.98%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	89.13M	49.9M	44.87M	29.56M	14.82M	-112.71M	80.59M	15.03M	-29.7M	61.96M
Depreciation & Amortization	6.47M	6.04M	4.57M	5.17M	11.19M	6.66M	6.57M	7.67M	10.51M	10.9M
Stock-Based Compensation	2.51M	3.7M	4.81M	5.25M	6.15M	4.99M	3.44M	2.83M	3.25M	5.52M
Deferred Taxes	-4.5M	3.33M	-5.92M	-16.22M	10.15M	-17.47M	5.63M	-3.93M	-8.31M	-8.39M
Other Non-Cash Items	13.15M	68.19M	38.72M	20.65M	-42.99M	130.68M	4.63M	54.35M	121.63M	66.81M
Working Capital Changes	83.23M	83.23M	83.05M	65.69M	94.43M	29.28M	-70.95M	-77.19M	74.36M	203.5M
Cash from Investing+	-36.29M	-112.4M	-61.98M	-19.2M	4.5M	-92.87M	31.73M	-19.17M	-149.89M	-292.49M
Capital Expenditures	-9.7M	-7.6M	-17.16M	-33.05M	-32.43M	-18.86M	-13.98M	-2.14M	-10.89M	-11.87M
Acquisitions	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-701.46M	-448.15M	-267.54M	-540.35M	-257.81M	-444.66M	-405.43M	-297.35M	-292.95M	-960.57M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	4.6M	15.29M	17.6M	290.4M	-16.93M	-5.56M	0	-103K	-8.14M	9.38M
Cash from Financing+	-137.84M	-97.58M	-107.55M	-115.19M	-41.98M	18.66M	-17.49M	-15.03M	-16.45M	51.09M
Dividends Paid	-21.66M	-24.59M	-27.34M	-105.41M	-32.66M	-28.53M	-15.06M	-15.86M	-16.16M	-16.21M
Share Repurchases	-2.42M	-3.75M	-29.78M	-5.4M	-11.7M	-2.74M	-2.01M	0	-290K	0
Stock Issued	5.5M	9.92M	4.83M	7.17M	2.38M	-71K	-421K	828K	0	348K
Debt Issuance (Net)	0	0	0	0	0	1000K	0	0	0	1000K
Other Financing	-119.25M	-79.16M	-55.26M	-11.55M	0	0	-421K	0	0	0
Net Change in Cash+	15.88M	-302K	6.37M	-31.11M	56.27M	-32.77M	44.16M	-35.45M	5.4M	98.9M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	90.57M	106.45M	89.19M	95.56M	64.45M	120.72M	87.95M	132.1M	96.65M	102.05M
Cash at End	106.45M	89.19M	95.56M	64.45M	120.72M	87.95M	132.1M	96.65M	102.05M	200.95M
Free Cash Flow+	180.3M	206.78M	152.94M	77.05M	61.33M	22.57M	15.94M	-3.39M	160.85M	328.43M
FCF Growth %	0.26%	0.15%	-0.26%	-0.5%	-0.2%	-0.63%	-0.29%	-1.21%	48.48%	1.04%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	7.14	8.01	5.96	3.01	2.4	0.9	0.64	-0.13	6.37	12.67

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	87.14%	94.17%	98.52%	100.85%	98.59%	115.72%	90.83%	98.78%	103.62%	93.85%
Medical Cost Ratio	80.71%	88.77%	88.43%	86.81%	87.24%	100.14%	80.98%	86.05%	92.36%	81.95%
Return on Equity (ROE)	10.51%	5.48%	5.33%	2.97%	1.65%	-12.99%	9.46%	1.86%	-4.03%	8.18%
Return on Assets (ROA)	2.3%	1.26%	1.24%	0.79%	0.51%	-3.71%	2.65%	0.51%	-0.99%	1.87%
Equity / Assets	22.59%	23.23%	23.27%	31.54%	30.21%	26.88%	29.18%	25.68%	23.34%	22.4%
Book Value / Share	34.83	36.5	37.96	34.67	35.59	32.97	35.04	29.23	29.06	30.15
Debt / Equity	-	-	-	-	-	0.06x	0.06x	0.07x	0.07x	0.15x
Revenue Growth	-4.58%	9.95%	7.03%	2.34%	11.09%	-10.15%	-2.02%	-6.46%	11.14%	13.98%

Revenue by Segment

	2013	2014	2015	2016	2017	2018	2019	2020	2022	2023
Property And Casualty	-	-	-	-	-	-	-	1.06B	951.54M	1.03B
Property And Casualty Growth	-	-	-	-	-	-	-	-	-9.81%	8.73%
Property, Liability and Casualty Insurance Product Line	1.44B	1.58B	2.65B	2.93B	997.49M	1.04B	1.09B	-	-	-
Property, Liability and Casualty Insurance Product Line Growth	-	9.86%	67.39%	10.48%	-65.94%	4.01%	4.77%	-	-	-
Life Insurance Product Line	190.5M	186.66M	350.69M	368.7M	-	-	-	-	-	-
Life Insurance Product Line Growth	-	-2.02%	87.88%	5.13%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

United Fire Group, Inc. (UFCS) has a price-to-earnings (P/E) ratio of 15.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

United Fire Group, Inc. (UFCS) grew revenue by 14.0% over the past year. This is steady growth.

Yes, United Fire Group, Inc. (UFCS) is profitable, generating $111.3M in net income for fiscal year 2024 (4.9% net margin).

Dividend & Returns

Yes, United Fire Group, Inc. (UFCS) pays a dividend with a yield of 1.75%. This makes it attractive for income-focused investors.

United Fire Group, Inc. (UFCS) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Industry Metrics

United Fire Group, Inc. (UFCS) has a combined ratio of 93.8%. A ratio below 100% indicates underwriting profitability.

US Stock Screener

...