The Travelers Companies, Inc. (TRV) 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 %
Q1 27	$5.39	$10	+86.3%	—	—	—
Q4 26	$7.08	$7.71	+8.9%	—	—	—
Q3 26	$8.92	$11.1	+24.0%	—	—	—
Q2 26	$6.38	$8.14	+27.6%	—	—	—
Q1 26	$3.61	$6.51	+80.3%	—	—	—
Q4 25	$0.77	$1.91	+148.1%	—	—	—
Q3 25	$6.6	$9.15	+38.6%	—	—	—
Q2 25	$3.6	$5.42	+50.6%	—	—	—
Q1 25	$2	$2.51	+25.5%	—	—	—
Q4 24	$4.86	$4.69	-3.5%	—	—	—
Q3 24	$5.09	$7.01	+37.7%	—	—	—
Q2 24	$3.07	$1.95	-36.5%	—	—	—
Q1 24	$2.12	$0.06	-97.2%	—	—	—
Q4 23	$3.58	$4.11	+14.8%	—	—	—
Q3 23	$3.4	$3.4	0.0%	—	—	—
Q2 23	$1.6	$2.2	+37.5%	—	—	—

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	—	$27.8	—	—	$48.8B	—
FY24	—	$21.8	—	—	$46.4B	—
FY23	—	$12.9	—	—	$41.4B	—
FY22	—	$11.9	—	—	$36.9B

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	$27.6B	$28.9B	$30.3B	$31.6B	$32B	$34.8B	$36.9B	$41.4B	$46.4B	$48.8B
YoY change	+3.02%	+4.62%	+4.77%	+4.29%	+1.27%	+8.86%	+5.97%	+12.1%	+12.2%	+5.17%

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	27.6B	28.9B	30.3B	31.6B	32B	34.8B	36.9B	41.4B	46.4B	48.8B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.2B	4.2B	4.3B	4.4B	4.5B	4.7B	4.8B	5.2B	5.8B	6.1B
Operating expenses	4.2B	4.2B	4.3B	4.4B	4.5B	4.7B	4.8B	5.2B	5.8B	6.1B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	263M	159M	203M	269M	279M	355M	351M	353M	449M	508M
Pretax income	4.1B	2.7B	3B	3.1B	3.2B	4.5B	3.4B	3.4B	6.2B	7.8B
Income tax	1B	674M	438M	516M	540M	796M	512M	380M	1.2B	1.5B
Net income	3B	2.1B	2.5B	2.6B	2.7B	3.7B	2.8B	3B	5B	6.3B
Net margin	10.9%	7.11%	8.33%	8.3%	8.43%	10.5%	7.7%	7.23%	10.8%	12.9%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	10.4	7.39	9.02	10	10.6	14.6	11.9	12.9	21.8	27.8
Diluted EPS	10.3	7.33	8.94	9.92	10.5	14.5	11.8	12.8	21.5	27.4

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	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	10.6B	10.9B	11.2B	11.3B	11.9B	12B	11.8B	12.1B	12.5B	12.4B	11.9B	12.2B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.6B	1.5B	1.5B	1.6B
Operating expenses	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.6B	1.5B	1.5B	1.6B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	101M	78M	112M	105M	120M	112M	112M	123M	148M	125M	141M	144M
Pretax income	472M	2B	1.4B	656M	1.6B	2.6B	468M	1.9B	2.3B	3.1B	2.1B	2.8B
Income tax	68M	393M	247M	122M	300M	512M	73M	372M	456M	607M	408M	559M
Net income	404M	1.6B	1.1B	534M	1.3B	2.1B	395M	1.5B	1.9B	2.5B	1.7B	2.2B
Net margin	3.8%	14.9%	10%	4.73%	10.6%	17.3%	3.34%	12.5%	15.1%	20.1%	14.3%	18.2%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	1.75	7.07	4.87	2.32	5.5	9.11	1.73	6.63	8.37	11.2	7.89	10.4
Diluted EPS	1.74	6.99	4.8	2.29	5.42	8.96	1.7	6.53	8.24	11.1	7.78	10.3

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	35.3B	37.4B	32B	35.6B	35.6B	38.9B	44.4B	43.8B	54.9B	65B	75.7B
Enterprise value	-24B	-23.9B	-29.2B	-30.8B	-38.1B	-36.2B	-23.7B	-31.8B	37.6B	48.1B	79.7B
Shares outstanding	288.1M	276M	267.4M	260M	253.5M	248.5M	237M	229.7M	228M	224.2M	224.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	11.7	18.2	12.7	13.6	13.2	10.6	15.6	14.6	11	10.3	9.76
P/S	1.28	1.3	1.06	1.13	1.11	1.12	1.2	1.06	1.18	1.33	1.55
P/B	1.52	1.58	1.4	1.37	1.22	1.35	2.06	1.76	1.97	1.98	2.29
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	6.95
EV/Sales	-0.87	-0.83	-0.97	-0.98	-1.19	-1.04	-0.64	-0.77	0.81	0.99	1.63
Earnings yield	8.55%	5.49%	7.88%	7.36%	7.58%	9.42%	6.4%	6.84%	9.1%	9.67%	10.2%
FCF yield	12.7%	11.1%	13.7%	14.6%	18.3%	18.7%	14.5%	17.6%	16.5%	16.3%	19.5%
PEG	—	—	—	—	—	—	—	—	—	—	0.17

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	23.7%
Net margin	10.9%	7.11%	8.33%	8.3%	8.43%	10.5%	7.7%	7.23%	10.8%	12.9%	17%
ROE	13%	8.66%	11%	10.1%	9.24%	12.7%	13.2%	12%	17.9%	19.1%	26.5%
ROA	—	—	—	—	—	—	—	—	3.75%	4.38%	4.78%
Return on tangible assets	—	—	—	—	—	—	—	—	4.03%	4.66%	6.16%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	0.32
Debt / equity	0.28	0.28	0.29	0.28	0.22	0.25	0.34	0.32	0.29	0.28	0.27
Debt / assets	—	—	—	—	—	—	—	—	0.06	0.06	0.06
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	0.35
Interest coverage	12.2	8.4	9.41	10.1	10.5	14.1	10.6	9.97	16.8	19.3	23.7
Effective tax rate	25.6%	24.7%	14.8%	16.4%	16.7%	17.9%	15.3%	11.3%	19.1%	19.3%	19.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	95.9	104.7	113.2	121.5	126.2	140.1	155.7	180.1	203.6	217.8	225.2
EPS (basic)	10.4	7.39	9.02	10	10.6	14.6	11.9	12.9	21.8	27.8	27.8
EPS (diluted)	10.3	7.33	8.94	9.92	10.5	14.5	11.8	12.8	21.5	27.4	37.2
Book value per share	80.6	86	85.6	99.8	115.2	116.2	91	108.5	122.2	146.7	158.8
FCF per share	15.5	15	16.4	20	25.7	29.3	27.3	33.6	39.8	47.3	51.6
Cash per share	228	246.1	253.6	283	316.5	331.6	318.3	363.9	111.2	116.7	24.3

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	25.1%	38.2%	32.3%	32.2%	31.9%	23.7%	30.8%	30.4%	19%	15.6%	12.2%
Dividend yield	2.15%	2.1%	2.54%	2.37%	2.42%	2.24%	1.97%	2.08%	1.73%	1.51%	1.38%

Yield

1.38%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.25

ex-dividend Sep 10, 2026

Payout ratio

12%

of earnings

Dividend growth

20 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Sep 10, 2026	$1.25
Jun 10, 2026	$1.25
Mar 10, 2026	$1.10

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	$10.6B	$10.9B	$11.2B	$11.3B	$11.9B	$12B	$11.8B	$12.1B	$12.5B	$12.4B	$11.9B	$12.2B
YoY change	+14.2%	+13.5%	+15.7%	+11.7%	+11.9%	+9.85%	+5.18%	+7.38%	+4.75%	+3.49%	+0.97%	+0.31%

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	65.7B	67.9B	67.8B	73.6B	80.2B	82.4B	75.4B	83.6B	25.4B	26.2B
Receivables	19.6B	20.2B	20.7B	20.7B	20.4B	20.4B	20.6B	21.7B	22.3B	21.9B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	7.7B	8.6B	8.6B	8.6B	8.6B	8.6B	8.5B	8.5B	9.2B	8.8B
Total assets	—	—	—	—	—	—	—	—	133.2B	143.7B
Accounts payable	4.9B	5B	5.1B	5B	4.6B	4.3B	4B	3.8B	3.7B	3.6B
Short-term debt	550M	600M	600M	600M	—	100M	100M	100M	100M	300M
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	5.9B	6B	6B	6.6B	6.5B	7.2B	7.2B	7.9B	7.9B	9B
Total liabilities	—	—	—	—	—	—	—	—	105.3B	110.8B
Shareholders' equity	23.2B	23.7B	22.9B	25.9B	29.2B	28.9B	21.6B	24.9B	27.9B	32.9B
Total debt	6.4B	6.6B	6.6B	7.2B	6.5B	7.3B	7.3B	8B	8B	9.3B
Net debt	6.1B	6.2B	6.2B	6.7B	5.8B	6.5B	6.5B	7.4B	7.5B	8.6B

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	77.7B	83.6B	83.3B	84.3B	90.2B	25.4B	91.3B	93.5B	99.2B	26.2B	97.9B	98B
Receivables	22.1B	21.7B	22.2B	22.9B	22.6B	22.3B	22.9B	23.2B	23B	21.9B	22.5B	23.5B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	8.5B	8.5B	9.3B	9.2B	9.3B	9.2B	9.2B	9.3B	9.2B	8.8B	8.8B	8.8B
Total assets	—	—	—	129.3B	134.6B	133.2B	136B	138.9B	143.7B	143.7B	142.3B	143.6B
Accounts payable	4.3B	3.8B	4.2B	4.2B	4.2B	3.7B	4.3B	4.1B	4.1B	3.6B	4.2B	4.1B
Short-term debt	100M	100M	100M	100M	100M	100M	100M	300M	300M	300M	300M	100M
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	7.9B	7.9B	7.9B	7.9B	7.9B	7.9B	7.9B	7.7B	9B	9B	9B	9B
Total liabilities	—	—	—	104.5B	106.9B	105.3B	107.8B	109.4B	112.1B	110.8B	110.3B	110.5B
Shareholders' equity	20B	24.9B	25B	24.9B	27.7B	27.9B	28.2B	29.5B	31.6B	32.9B	32B	33.1B
Total debt	8B	8B	8B	8B	8B	8B	8B	8B	9.3B	9.3B	9.3B	9.1B
Net debt	7.4B	7.4B	7.4B	7.3B	7.3B	7.5B	7.3B	7.5B	8.7B	8.6B	8.8B	8.6B

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	3B	2.1B	2.5B	2.6B	2.7B	3.7B	2.8B	3B	5B	6.3B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	780M	-335M	-303M	308M	61M	391M	-488M	-1.4B	-748M	-252M
Operating cash flow	4.4B	2.1B	2.4B	3.4B	2.9B	4.9B	2.2B	2.1B	4.7B	10.6B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-1.7B	-2.2B	-2.3B	-2.8B	-4.8B	-5.2B	-3.7B	-6.8B	-7.3B	-7.6B
Dividends paid	-757M	-785M	-814M	-844M	-861M	-869M	-875M	-908M	-951M	-979M
Share repurchases	-2.5B	-1.4B	-1.3B	-1.5B	-672M	-2.2B	-2.1B	-1B	-1.1B	-3.1B
Financing cash flow	-3.1B	-2.1B	-2.1B	-2.4B	-1.5B	-2.3B	-2.9B	-1.2B	-2.1B	-2.9B
Net change in cash	-526M	-2.2B	-2.1B	-1.8B	-3.5B	-2.7B	-4.4B	-5.9B	-4.7B	125M
Free cash flow	4.5B	4.1B	4.4B	5.2B	6.5B	7.3B	6.5B	7.7B	9.1B	10.6B

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	404M	1.6B	1.1B	534M	1.3B	2.1B	395M	1.5B	1.9B	2.5B	1.7B	2.2B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-196M	222M	-1.1B	-698M	308M	166M	-1.5B	-360M	162M	502M	-1.2B	-984M
Operating cash flow	854M	1.8B	58M	-249M	2.5B	2.6B	-1B	1.1B	4.2B	2.7B	2.2B	1.9B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-2.7B	-1.8B	-1B	-1.1B	-3.4B	-1.7B	-801M	-1.7B	-4.5B	-550M	-323M	-172M
Dividends paid	-229M	-232M	-229M	-244M	-238M	-240M	-240M	-250M	-247M	-242M	-237M	-263M
Share repurchases	-101M	-65M	-360M	-250M	-249M	-258M	-352M	-522M	-620M	-1.6B	-1.9B	-1.3B
Financing cash flow	-330M	-297M	-589M	-494M	-487M	-498M	-592M	-772M	-867M	-1.9B	-2.2B	-1.6B
Net change in cash	-2.2B	-268M	-1.6B	-1.9B	-1.5B	473M	-2.4B	-1.4B	-1.2B	256M	-296M	163M
Free cash flow	3B	2.1B	1.5B	1.7B	3.9B	2.1B	1.4B	2.3B	4.2B	2.7B	2.2B	1.9B

Date	Ratio
May 12, 1998	2:1
Jun 7, 1994	2:1

The Travelers Companies, Inc. 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