Cincinnati Financial Corp (CINF) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.82	$1.43	-21.4%	—	—	—
Q3 26	$1.94	$2.1	+8.2%	—	—	—
Q2 26	$2.89	$3.37	+16.6%	—	—	—
Q1 26	$1.39	$1.97	+41.7%	—	—	—
Q4 25	-$0.61	-$0.24	+60.7%	—	—	—
Q3 25	$1.87	$3.14	+67.9%	—	—	—
Q2 25	$1.43	$5.2	+263.6%	—	—	—
Q1 25	$0.96	$1.29	+34.4%	—	—	—
Q4 24	$1.71	$1.72	+0.6%	—	—	—
Q3 24	$1.93	$2.28	+18.1%	—	—	—
Q2 24	$1.15	$1.66	+44.3%	—	—	—
Q1 24	$0.74	$1.21	+63.5%	—	—	—
Q4 23	$0.73	$0.89	+21.9%	—	—	—
Q3 23	$1.31	$1.27	-3.1%	—	—	—
Q2 23	$0.67	$0.73	+9.0%	—	—	—
Q1 23	$1.06	$0.65	-38.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$15.3	—	—	$12.6B	—
FY24	—	$14.7	—	—	$11.3B	—
FY23	—	$11.7	—	—	$10B	—
FY22	—	-$3.06	—	—	$6.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$5.4B	$5.7B	$5.4B	$7.9B	$7.5B	$9.6B	$6.6B	$10B	$11.3B	$12.6B
YoY change	+5.97%	+5.19%	-5.67%	+46.6%	-4.9%	+27.7%	-31.8%	+52.6%	+13.2%	+11.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	5.4B	5.7B	5.4B	7.9B	7.5B	9.6B	6.6B	10B	11.3B	12.6B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	12M	13M	16M	23M	20M	20M	23M	25M	32M	34M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	5M	5M	5M	9M	10M	10M	10M	13M	15M	21M
Pretax income	812M	730M	251M	2.5B	1.5B	3.7B	-694M	2.3B	2.9B	3B
Income tax	221M	-315M	-36M	475M	283M	730M	-207M	433M	566M	587M
Net income	591M	1B	287M	2B	1.2B	3B	-487M	1.8B	2.3B	2.4B
Net margin	10.8%	18.2%	5.31%	25.2%	16.1%	30.8%	-7.42%	18.4%	20.2%	18.9%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	3.59	6.36	1.76	12.2	7.55	18.3	-3.06	11.7	14.7	15.3
Diluted EPS	3.55	6.29	1.75	12.1	7.49	18.1	-3.06	11.7	14.5	15.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.8B	3.4B	2.9B	2.5B	3.3B	2.5B	2.6B	3.2B	3.7B	3.1B	2.9B	—
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	5M	8M	4M	9M	6M	13M	11M	10M	6M	7M	9M	—
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	3M	5M	3M	4M	3M	5M	4M	5M	6M	6M	6M	—
Pretax income	-148M	1.5B	953M	386M	1B	479M	-128M	855M	1.4B	840M	326M	—
Income tax	-49M	307M	198M	74M	220M	74M	-38M	170M	291M	164M	52M	—
Net income	-99M	1.2B	755M	312M	820M	405M	-90M	685M	1.1B	676M	274M	—
Net margin	-5.47%	35.3%	25.7%	12.3%	24.7%	16%	-3.51%	21.1%	30.1%	21.9%	9.57%	—
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	-0.63	7.54	4.82	1.99	5.25	2.59	-0.57	4.38	7.19	4.34	1.77	8.14
Diluted EPS	-0.63	7.5	4.78	1.98	5.2	2.56	-0.57	4.34	7.11	4.29	1.75	8.05

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	12.5B	12.3B	12.6B	17.2B	14.1B	18.4B	16.3B	16.2B	22.5B	25.5B	27.5B
Enterprise value	2.5B	1.8B	2B	5.6B	1.7B	5.1B	3.8B	2.4B	5.9B	6.7B	26.3B
Shares outstanding	164.6M	164.3M	163.1M	163.2M	161.1M	161.1M	158.8M	157M	156.5M	156.2M	156.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.1	11.8	44	8.59	11.6	6.18	—	8.81	9.81	10.7	8.47
P/S	2.29	2.15	2.33	2.17	1.87	1.91	2.48	1.62	1.98	2.02	1.96
P/B	1.77	1.49	1.61	1.74	1.3	1.4	1.54	1.34	1.61	1.6	1.64
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	6.02
EV/Sales	0.45	0.32	0.37	0.7	0.23	0.53	0.57	0.24	0.52	0.53	1.88
Earnings yield	4.74%	8.48%	2.27%	11.6%	8.64%	16.2%	—	11.3%	10.2%	9.38%	11.8%
FCF yield	8.84%	8.41%	9.2%	6.9%	10.5%	10.7%	12.5%	12.5%	11.7%	12.1%	10.9%
PEG	—	—	—	—	—	—	—	—	—	—	0.1

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	37.2%
Net margin	10.8%	18.2%	5.31%	25.2%	16.1%	30.8%	-7.42%	18.4%	20.2%	18.9%	23.8%
ROE	8.37%	12.7%	3.66%	20.2%	11.3%	22.6%	-4.61%	15.2%	16.4%	15%	21.5%
ROA	—	—	—	—	—	—	—	—	6.28%	5.84%	6.41%
Return on tangible assets	—	—	—	—	—	—	—	—	6.28%	5.84%	6.69%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	1.15
Debt / equity	0.12	0.1	0.11	0.09	0.08	0.07	0.08	0.07	0.06	0.06	0.05
Debt / assets	—	—	—	—	—	—	—	—	0.02	0.02	0.02
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	-0.23
Interest coverage	16.3	14.8	5.74	47.6	28.8	70.8	-12.1	43.1	54.9	57.2	65.8
Effective tax rate	27.2%	0%	0%	19.2%	18.9%	19.7%	0%	19%	19.8%	19.7%	19.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	33.1	34.9	33.2	48.6	46.8	59.8	41.3	63.8	72.5	80.9	89.9
EPS (basic)	3.59	6.36	1.76	12.2	7.55	18.3	-3.06	11.7	14.7	15.3	15.3
EPS (diluted)	3.55	6.29	1.75	12.1	7.49	18.1	-3.06	11.7	14.5	15.2	21
Book value per share	42.9	50.2	48	60.5	67	81.4	66.5	77.1	89.1	101.9	108.7
FCF per share	6.69	6.31	7.12	7.26	9.13	12.2	12.8	13	16.8	19.8	21.9
Cash per share	66	69.1	70.4	76.4	82.2	87.9	84.3	93.6	111.6	126.1	12.3
Capex per share	0.08	0.1	0.12	0.15	0.12	0.09	0.09	0.11	0.14	—	0.12

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.24%	0.28%	0.37%	0.3%	0.27%	0.16%	0.23%	0.18%	0.19%	—	0.15%
Capex / operating cash flow	2.19%	2.13%	29%	1.03%	1.46%	0.45%	-1.36%	0.95%	0.97%	—	0.6%
Payout ratio	51.8%	38.3%	117.1%	17.8%	30.8%	13.3%	-86.9%	24.6%	21.4%	21.9%	17.1%
Dividend yield	2.45%	3.25%	2.66%	2.07%	2.66%	2.15%	2.6%	2.8%	2.18%	2.06%	2.1%

Yield

2.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.94

ex-dividend Sep 23, 2026

Payout ratio

17%

of earnings

Dividend growth

7 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 23, 2026	$0.94
Jun 23, 2026	$0.94
Mar 24, 2026	$0.94

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.8B	$3.4B	$2.9B	$2.5B	$3.3B	$2.5B	$2.6B	$3.2B	$3.7B	$3.1B	$2.9B	—
YoY change	+28.4%	+7.77%	+31%	-2.34%	+83.3%	-24.4%	-12.6%	+27.7%	+12.2%	+21.8%	+11.6%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	10.9B	11.4B	11.5B	12.5B	13.2B	14.2B	13.4B	14.7B	17.5B	19.7B
Receivables	2.1B	2B	2.1B	2.4B	2.4B	2.6B	3B	3.2B	3.5B	3.8B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	—	—	—	—	—	—	—	—	36.5B	41B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	20M	24M	32M	39M	54M	54M	50M	25M	25M	25M
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	826M	827M	834M	845M	845M	843M	841M	849M	850M	861M
Total liabilities	—	—	—	—	—	—	—	—	22.6B	25.1B
Shareholders' equity	7.1B	8.2B	7.8B	9.9B	10.8B	13.1B	10.6B	12.1B	13.9B	15.9B
Total debt	846M	851M	866M	884M	899M	897M	891M	874M	875M	886M
Net debt	69M	194M	82M	117M	-1M	-242M	-373M	-33M	-108M	-545M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	13.6B	1.7B	14.7B	1.6B	1.9B	2.9B	17.5B	2.2B	2.2B	2.5B	19.7B	2.1B
Receivables	3.4B	3.4B	3.2B	3.4B	3.6B	3.6B	3.5B	4B	4.2B	4B	3.8B	3.9B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	—	—	—	33.7B	34.8B	37B	36.5B	37.3B	38.8B	40.6B	41B	41.2B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	25M	25M	25M	25M	25M	25M	25M	25M	25M	25M	25M	25M
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	842M	844M	849M	848M	849M	849M	850M	853M	859M	858M	861M	859M
Total liabilities	—	—	—	—	22B	23.2B	22.6B	23.6B	24.5B	25.2B	25.1B	25.5B
Shareholders' equity	11B	10.6B	12.1B	12.7B	12.8B	13.8B	13.9B	13.7B	14.3B	15.4B	15.9B	15.7B
Total debt	867M	869M	874M	873M	874M	874M	875M	878M	884M	883M	886M	884M
Net debt	119M	-30M	-33M	254M	103M	-878M	-108M	-132M	-111M	-577M	-545M	-326M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	591M	1B	287M	2B	1.2B	3B	-487M	1.8B	2.3B	2.4B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	23M	26M	28M	30M	31M	33M	—	—	—	—
Change in working capital	-58M	125M	-199M	-31M	-10M	-148M	-264M	-162M	-134M	-269M
Operating cash flow	594M	752M	69M	2.3B	1.4B	3.3B	-1.1B	1.9B	2.3B	3.1B
Capital expenditure	-13M	-16M	-20M	-24M	-20M	-15M	-15M	-18M	-22M	—
Investing cash flow	-456M	-558M	-451M	-679M	-560M	-1.1B	-933M	-1.6B	-1.7B	-1.7B
Dividends paid	-306M	-400M	-336M	-355M	-375M	-395M	-423M	-454M	-490M	-525M
Share repurchases	-39M	-92M	-125M	-67M	-261M	-144M	-410M	-67M	-126M	-205M
Financing cash flow	-447M	-627M	-620M	-564M	-820M	-698M	-1B	-785M	-887M	-983M
Net change in cash	-309M	-433M	-1B	1.1B	-7M	1.6B	-3B	-489M	-308M	458M
Free cash flow	1.1B	1B	1.2B	1.2B	1.5B	2B	2B	2B	2.6B	3.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	534M	-99M	1.2B	755M	312M	820M	405M	-90M	685M	1.1B	676M	274M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-135M	170M	245M	-427M	-159M	318M	134M	-718M	-225M	428M	246M	-262M
Operating cash flow	480M	-35M	1.6B	465M	166M	1.2B	457M	-804M	549M	1.1B	947M	656M
Capital expenditure	-4M	-2M	-8M	-7M	-5M	-6M	-4M	-3M	-4M	—	—	—
Investing cash flow	-558M	-318M	-370M	-355M	-385M	251M	-1.2B	-58M	-556M	-398M	-666M	-491M
Dividends paid	-117M	-115M	-116M	-116M	-125M	-124M	-125M	-125M	-133M	-134M	-133M	-133M
Share repurchases	-41M	-1M	0	-75M	-46M	0	-5M	-42M	0	-60M	-103M	-179M
Financing cash flow	-200M	-182M	-201M	-289M	-206M	-185M	-207M	-229M	-202M	-248M	-304M	-389M
Net change in cash	-278M	-535M	1.1B	-179M	-425M	1.3B	-957M	-1.1B	-209M	468M	-23M	-224M
Free cash flow	571M	648M	569M	346M	737M	906M	638M	307M	737M	1.1B	939M	654M

Date	Ratio
Apr 4, 2005	105:100
Apr 28, 2004	105:100
May 18, 1998	3:1
Mar 13, 1996	105:100
Mar 13, 1995	105:100
May 18, 1992	3:1
Sep 2, 1987	105:100
May 1, 1985	2:1

Cincinnati Financial Corp Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history