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American Financial Group, Inc.

AFG Financial Insurance Property & Casualty

American Financial Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.2 billion, down 1.80% from fiscal 2024. In the quarter to June 2026, revenue grew 5.51%, EPS grew 44.4%, free cash flow fell 68.1% and total debt rose 23.4%, each against the same quarter a year earlier.

149.13 3.40 +2.33%
Market cap
$12.1B
P/E
13.0×
Fwd P/E
11.3×
Dividend yield
2.42%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 16.04
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — — 1 — — — 2 — 2 2 —
Insider Ownership 17.31%

Capital & Financial Ratios $m

Market Cap 12,080.00
Revenue 8,278.00
Net Income 953.00
Free Cash Flow 1,438.00
Net Debt 383.00
Current Ratio 0.49
Debt/Equity 0.38
P/E ratio 13.04
Fwd P/E 11.30
P/S ratio 1.50
P/B ratio 2.57
Past 5Y EPS Growth 4.21%
This Y EPS Growth 22.49% (at or above 15%: strong)
Next Y EPS Growth (3.53%) (below 0%: weak)
Next Y revenue growth (11.51%) (below 0%: weak)
Next 5Y EPS Growth 7.15%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 57.21%
10-year low 10-year high
P/S against its own 10 years 76.85%
10-year low 10-year high
P/B against its own 10 years 89.20%
10-year low 10-year high

Dividends

Payout Ratio 0.32
Annual Dividend Rate 3.61
Annual Dividend Yield 2.42%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 6.97
0.88
1.50
0.88
0.88
0.97
2025 7.28
0.80
2.00
0.80
0.80
0.88
2.00
2024 2.93
0.71
2.50
0.71
0.71
0.80
4.00
2023 2.60
0.63
4.00
0.63
0.63
0.71
1.50
2022 2.31
0.56
2.00
0.56
8.00
0.56
0.63
2.00
2021 2.06
0.50
0.50
14.00
0.50
2.00
4.00
0.56
4.00
2.00
2020 1.85
0.45
0.45
0.45
0.50
2.00
2019 1.65
0.40
0.40
1.50
0.40
0.45
1.80
2018 1.45
0.35
0.35
1.50
0.35
0.40
1.50
2017 1.29
0.31
0.31
1.50
0.31
0.35
2.00
2016 1.15
0.28
0.28
0.28
0.31
1.00
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,225 1,406 1,727 1,438
Receivables 2,642 2,655 2,853 8,430
Inventory — — — —
Other — — — —
3,867 4,061 4,580 9,868
2023 2024 2025 Q'26
Payables 17,724 18,954 20,025 20,272
ST’ Debt — — — —
Other — — — —
17,724 18,954 20,025 20,272

Compound Annual Growth %

10y 5y 3y
Sales 2.89% 7.22% 5.10%
Cash Flow 1.26% (6.83%) 9.96%
Earnings 9.11% 2.84% (2.12%)
Book Value 0.10% (6.62%) 5.96%

Revenue $m

Mar Jun Sep Dec Year
’26 1,854 2,030 — — —
’25 1,856 1,924 2,331 2,063 8,174
’24 1,906 1,900 2,369 2,149 8,324
’23 1,740 1,840 2,164 2,083 7,827
’22 1,588 1,539 1,984 1,929 7,040
’21 1,509 1,531 1,754 1,758 6,552
’20 1,055 1,445 1,556 1,713 5,769
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 474 92 — — —
’25 342 191 216 784 1,533
’24 107 (88) 459 674 1,152
’23 403 115 696 756 1,970
’22 503 11 529 110 1,153
’21 627 343 455 289 1,714
’20 532 555 609 487 2,183
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 464 51 — — —
’25 317 160 173 750 1,400
’24 69 (96) 405 671 1,049
’23 391 96 689 725 1,901
’22 480 0 522 96 1,098
’21 614 331 452 301 1,698
’20 524 547 591 466 2,128
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.29 2.99 — — —
’25 1.84 2.07 2.58 3.58 10.08
’24 2.89 2.49 2.16 3.03 10.57
’23 2.49 2.34 2.09 3.13 10.05
’22 3.40 1.96 1.93 3.24 10.53
’21 4.84 11.70 2.56 4.18 23.30
’20 (3.34) 1.97 1.86 7.93 8.20
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 64.87 85.57 84.18 88.70 44.01 79.21 119.01 105.22 115.64 114.73

Analyst estimates 2026–2028

Powerpack
High 88.54 109.41 121.69 111.86 115.03 146.63 152.29 143.15 150.19 150.02
People
People Employees 7,600 7,600 7,600 7,600 7,600 6,600 6,900 8,500 8,700 8,500
Revenue/emp, $m 0.86 0.90 0.94 0.82 0.76 0.99 1.02 0.92 0.96 0.96
Income, $m
Income, $m Revenue 6,498 6,865 7,150 6,213 5,769 6,552 7,040 7,827 8,324 8,174
Gross margin, % 21.05 20.57 18.25 19.59 15.13 28.21 24.05 23.75 22.31 21.13
EBT 787 724 639 634 339 1,335 1,123 1,073 1,124 1,073
EBT margin, % 12.11 10.55 8.94 10.20 5.88 20.38 15.95 13.71 13.50 13.13
Net income 668 477 517 869 721 1,995 898 852 887 842
Depreciation 134 107 210 259 299 187 100 78 81 86
Per share, $
Per share, $ Revenue 74.78 78.19 80.34 69.11 65.04 76.99 82.73 92.41 99.21 97.89
Earnings 7.33 5.28 5.85 9.85 8.20 23.30 10.53 10.05 10.57 10.08
Cash flow 13.23 20.55 23.40 27.32 24.61 20.14 13.55 23.26 13.73 18.36
Capex 0.07 (0.61) (0.87) (0.44) (0.62) (0.19) (0.65) (0.81) (1.23) (1.59)
Free cash flow 13.30 19.93 22.54 26.87 23.99 19.95 12.90 22.44 12.50 16.77
Book value 56.61 60.72 55.87 69.73 76.54 58.90 47.61 50.27 53.23 57.72
Shares, m 87 88 89 90 89 85 85 85 84 84
Valuation, ×
Valuation, × P/E 12.00 20.15 15.50 11.11 10.41 5.90 13.00 11.88 12.95 13.57
P/S 1.18 1.37 1.13 1.59 1.35 1.78 1.65 1.29 1.38 1.40
P/B 1.55 1.76 1.62 1.57 1.14 2.33 2.87 2.37 2.57 2.37
EV/Sales 1.05 1.21 1.10 1.45 1.40 1.76 1.74 1.32 1.39 1.41
EV/FCF 5.89 4.76 3.91 3.73 3.79 6.78 11.18 5.45 11.02 8.22
Cash, $m
Cash, $m Operating cash flow 1,150 1,804 2,083 2,456 2,183 1,714 1,153 1,970 1,152 1,533
Capex 6 (54) (77) (40) (55) (16) (55) (69) (103) (133)
Free cash flow 1,156 1,750 2,006 2,416 2,128 1,698 1,098 1,901 1,049 1,400
Balance, $m
Balance, $m Working capital (35,217) (38,922) (43,151) (50,270) (7,142) (7,263) (9,181) (13,857) (14,893) (15,445)
Total debt 1,283 1,301 1,302 1,473 1,963 1,964 1,496 1,475 1,475 1,820
Net debt (824) (1,037) (213) (841) 298 (167) 624 250 69 93
Shareholders’ equity 4,919 5,331 4,972 6,269 6,789 5,012 4,052 4,258 4,466 4,820
Returns, %
Returns, % ROA 1.24 0.82 0.85 1.34 1.02 3.89 3.11 2.91 2.93 2.65
ROIC 12.01 10.54 8.39 7.30 2.99 17.22 15.01 14.88 15.49 13.65
ROE 13.40 9.27 10.29 15.96 11.21 33.81 19.81 20.51 20.33 18.13
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

American Financial Group, Inc. vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CINF Cincinnati Financial Corporation $25.7B 8.0× 19.7× +31.59% (above 0%: growing) +85.84% (above 0%: growing) −5.29% (below 0%: shrinking) 37.46% 37.20% Compare
MKL Markel Group Inc. $22.6B 10.1× 12.8× +12.67% (above 0%: growing) +86.91% (above 0%: growing) −15.25% (below 0%: shrinking) 62.92% 30.09% Compare
L Loews Corporation $22.2B 13.5× 16.0× +3.93% (above 0%: growing) +15.51% (above 0%: growing) −18.81% (below 0%: shrinking) 54.18% 15.10% Compare
AIZ Assurant, Inc. $13.9B 13.4× 12.9× +9.37% (above 0%: growing) +30.00% (above 0%: growing) +99.03% (above 0%: growing) 78.34% 11.73% Compare
CNA CNA Financial Corporation $12.8B 10.5× 10.9× +3.01% (above 0%: growing) +7.27% (above 0%: growing) +16.91% (above 0%: growing) 43.35% 11.44% Compare
AFG American Financial Group, Inc. $12.1B 13.0× 11.3× +5.51% (above 0%: growing) +44.44% (above 0%: growing) −68.13% (below 0%: shrinking) 23.15% 16.75%
ORI Old Republic International Corporation $9.3B 8.5× 11.7× +13.37% (above 0%: growing) +61.45% (above 0%: growing) +49.25% (above 0%: growing) 17.62% 17.62% Compare
KNSL Kinsale Capital Group, Inc. $8.1B 14.7× 15.2× +16.75% (above 0%: growing) +33.51% (above 0%: growing) −5.14% (below 0%: shrinking) 40.91% 40.68% Compare
THG The Hanover Insurance Group, Inc. $8.0B 11.0× 10.4× +4.34% (above 0%: growing) +27.21% (above 0%: growing) +2.20% (above 0%: growing) 44.24% 14.75% Compare
Median of peers $13.4B 10.8× 12.9× +11.02% +31.76% −1.47% 43.80% 16.36%

All 45 Insurance Property & Casualty stocks →

American Financial Group, Inc. (AFG) key facts

  • Concern: American Financial Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.2 billion, down 1.80% from fiscal 2024.
  • Concern: Net income was $842.0 million, or $10.08 per share (basic), a net margin of 10.3%.
  • American Financial Group, Inc. (AFG) is an Insurance Property & Casualty company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, AFG traded at $149.13, a market capitalization of $12.1 billion.
  • At that price the stock trades at 13.0× trailing-twelve-month earnings and 1.5× sales; its P/E is higher than 57% of its own readings over the past ten years.
  • American Financial Group, Inc. pays an annual dividend of $3.61 per share, a yield of 2.42%, with a payout ratio of 31.6%.
  • Return on equity was 18.1% and debt-to-equity 0.38.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

American Financial Group, Inc. (AFG) Latest News

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stockrow.com/AFG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com