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The Travelers Companies, Inc.

TRV Financial Insurance Property & Casualty

The Travelers Companies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $48.8 billion, up 5.18% from fiscal 2024.

Revenue
−0.47%
EPS
+9.92%
Free cash flow
−7.92%
Total debt
+5.89%

Quarter to September 2026, against a year earlier

408.99 13.58 +3.43%
Market cap
$81.0B
P/E
10.2×
Fwd P/E
10.9×
Dividend yield
1.19%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • Domestic
  • International - Canada
  • Other Non-U.S.

Every year since 2011 →

Insider Decisions last twelve months

Sold, $m 153.49
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 1 14 — 5 2 — 8 1 — 8 —
Insider Ownership 1.45%

Capital & Financial Ratios $m

Size
Market Cap 81,040.00
Revenue ttm 48,921.00
Net income ttm 8,332.00
Free cash flow ttm 10,635.00
Net debt Q 9,047.00
Valuation
P/E 10.18
Forward P/E 10.90
Price / sales 1.67
Forward P/S Powerpack
Price / FCF 7.68
Price / book 2.82
Financial health
Current ratio Q 0.27
Debt / equity Q 0.34
Interest coverage Q 21.08
Growth
Revenue growth Q −0.47% (below 0%: shrinking)
Operating income growth Q +1.30% (above 0%: growing)
EPS, this year +32.81% (at or above 15%: strong)
EPS, next year A −15.36% (below 0%: weak)
Revenue, next year A −10.89% (below 0%: weak)
EPS, past 5 yrs +21.13% (at or above 15%: strong)
EPS, next 5 yrs A +4.76%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 9.14%
10-year low 10-year high
P/S against its own 10 years 99.56%
10-year low 10-year high
P/B against its own 10 years 99.67%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.19%
Annual rate
4.70
Payout ratio
12.3%
Growth, 2017–25
+5.52%/yr
  1. 2.83 ’17
  2. 3.03 ’18 +7
  3. 3.23 ’19 +7
  4. 3.37 ’20 +4
  5. 3.49 ’21 +4
  6. 3.67 ’22 +5
  7. 3.93 ’23 +7
  8. 4.15 ’24 +6
  9. 4.35 ’25 +5
  10. 4.85 ’26e +12
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 650 699 842 766
Receivables 22,824 23,483 23,171 24,749
Inventory — — — —
Other — — — —
23,474 24,182 24,013 25,515
2023 2024 2025 Q'26
Payables 83,017 86,932 88,697 92,483
ST’ Debt — — — —
Other 3,269 3,189 3,026 3,054
86,286 90,121 91,723 95,537

Compound Annual Growth %

10y 5y 3y
Sales 6.18% 8.83% 9.80%
Cash Flow 11.94% 10.22% 17.94%
Earnings 6.22% 18.44% 30.29%
Book Value 3.38% 2.41% 15.12%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 7.07 Actual 9.18

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 8.45 11.13 Beat by 2.68
Q1 FY26 6.98 7.71 Beat by 0.73
Q2 FY26 5.31 10.04 Beat by 4.73
Q3 FY26 7.07 9.18 Beat by 2.11
Q4 FY26 9.73 — Reports 20 January 2027

EPS $

Mar Jun Sep Dec Year
’26 7.78 10.26 9.04 — —
’25 1.70 6.53 8.24 11.06 27.43
’24 4.80 2.29 5.42 8.96 21.47
’23 4.13 (0.07) 1.74 6.99 12.79
’22 4.15 2.27 1.89 3.44 11.77
’21 2.87 3.66 2.62 5.37 14.49
’20 2.33 (0.16) 3.23 5.10 10.52
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 11,924 12,153 12,412 — —
’25 11,810 12,116 12,470 12,432 48,828
’24 11,228 11,283 11,904 12,008 46,423
’23 9,704 10,098 10,635 10,927 41,364
’22 8,809 9,136 9,303 9,636 36,884
’21 8,313 8,687 8,805 9,011 34,816
’20 7,908 7,401 8,275 8,397 31,981
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,198 1,916 3,878 — —
’25 1,360 2,334 4,227 2,685 10,606
’24 1,458 1,677 3,875 2,064 9,074
’23 1,012 1,549 3,046 2,104 7,711
’22 1,266 1,375 2,484 1,340 6,465
’21 1,190 1,849 2,543 1,692 7,274
’20 628 1,664 2,326 1,901 6,519
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,186 1,906 3,883 — —
’25 1,353 2,328 4,217 2,660 10,558
’24 1,445 1,666 3,929 2,050 9,090
’23 998 1,537 3,026 2,083 7,644
’22 1,257 1,368 2,472 1,337 6,434
’21 1,185 1,840 2,535 1,686 7,246
’20 612 1,656 2,501 1,637 6,406
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 25.1% a year for ten years. It grew 6.2% a year over the last ten.

Implied
25.1%
10 years, reported
6.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 27,625 28,902 30,282 31,581 31,981 34,816 36,884 41,364 46,423 48,828 48,921 +6.5% 43,511 44,398 45,435 (2.4%)
Gross margin, % 45.45 39.56 39.60 39.42 40.21 41.70 38.04 36.62 41.71 44.25 49.67 (1.2) pt
EBT 4,053 2,730 2,961 3,138 3,237 4,458 3,354 3,371 6,180 7,796 10,358 +7.5%
EBT margin, % 14.67 9.45 9.78 9.94 10.12 12.80 9.09 8.15 13.31 15.97 21.17 +1.3 pt
Net income 3,014 2,056 2,523 2,622 2,697 3,662 2,842 2,991 4,999 6,288 8,332 +8.5%
Per share, $
Per share, $ Revenue 95.89 104.72 113.25 121.47 126.16 140.10 155.63 180.08 203.61 217.79 236.45 +9.5%
Earnings 10.39 7.39 9.37 10.01 10.56 14.63 11.91 12.93 21.76 27.83 38.74 +11.6%
Cash flow 15.51 15.03 16.38 20.02 25.72 29.27 27.28 33.57 39.80 47.31 51.60 +13.2%
Capex (0.17) (0.21) (0.28) (0.41) (0.45) (0.11) (0.13) (0.29) 0.07 (0.21) (0.20) +2.8%
Free cash flow 15.35 14.82 16.10 19.61 25.27 29.16 27.15 33.28 39.87 47.09 51.40 +13.3%
Book value 80.60 85.98 85.62 99.78 115.19 116.25 90.97 108.49 122.21 146.72 140.14 +6.9%
Shares, m 288 276 267 260 254 249 237 230 228 224 214 (2.7%)
Valuation, ×
Valuation, × P/E 11.63 17.88 12.79 13.68 13.31 10.66 15.74 14.80 11.05 10.37 10.18 13.2
P/S 1.26 1.26 1.06 1.13 1.11 1.12 1.20 1.06 1.18 1.33 1.67 1.2
P/B 1.50 1.54 1.40 1.37 1.22 1.35 2.06 1.76 1.97 1.98 2.82 1.6
EV/Sales 1.48 1.48 1.26 1.32 1.29 1.30 1.38 1.24 1.34 1.50 — 1.4
EV/FCF 9.27 10.43 8.87 8.17 6.46 6.27 7.90 6.72 6.85 6.96 — 7.8
Cash, $m
Cash, $m Operating cash flow 4,469 4,148 4,380 5,205 6,519 7,274 6,465 7,711 9,074 10,606 10,677 +10.1%
Capex (48) (59) (74) (107) (113) (28) (31) (67) 16 (48) (42) 0.0%
Free cash flow 4,421 4,089 4,306 5,098 6,406 7,246 6,434 7,644 9,090 10,558 10,635 +10.2%
Balance, $m
Balance, $m Working capital (44,646) (46,491) (47,685) (49,509) (52,446) (55,581) (58,517) (62,812) (65,939) (67,710) (70,022) +4.7%
Net debt 6,130 6,227 6,191 6,064 5,829 6,529 6,493 7,381 7,334 8,425 9,047 +3.6%
Shareholders’ equity 23,221 23,731 22,894 25,943 29,201 28,887 21,560 24,921 27,864 32,894 28,995 +3.9%
Returns, %
Returns, % ROA 2.99 2.00 2.41 2.43 2.36 3.06 2.39 2.46 3.83 4.51 5.79 +1.5 pt
ROIC 9.40 6.47 7.12 6.80 6.38 8.47 8.25 7.25 11.67 12.44 17.78 +3.0 pt
ROE 12.78 8.69 10.74 10.66 9.71 12.52 11.19 12.78 18.80 20.55 27.30 +7.8 pt
People
People Employees 30,900 30,800 30,400 30,800 30,600 30,800 32,500 33,300 34,000 34,000 — +1.1%
Revenue/emp, $m 0.89 0.94 1.00 1.03 1.05 1.13 1.13 1.24 1.37 1.44 — +5.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

The Travelers Companies is a holding company whose insurance subsidiaries provide property and casualty insurance and related services to businesses, government units, associations and individuals. It was founded in 1853 and is headquartered in New York City.

Its Business Insurance segment covers small, mid-sized and large organizations. Coverages include workers’ compensation, commercial auto, property, general liability and packaged commercial policies, alongside risk management, claims administration and loss-control services. Some large customers use loss-sensitive arrangements, where fees or premiums can change with their own claims experience.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
Domestic 46,360 94.95%
International - Canada 1,345 2.75%
Other Non-U.S. 1,123 2.30%
Gross margin 44.25%
Operating margin 16.84%
Pre-tax margin 15.97%

Revenue by segment since 2011

The Travelers Companies, 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
CB Chubb Limited $140.1B 12.7× 13.0× +0.29% (above 0%: growing) +3.55% (above 0%: growing) +66.83% (above 0%: growing) 27.50% 22.33% Compare
PGR The Progressive Corporation $133.1B 11.5× 12.4× −3.61% (below 0%: shrinking) −1.80% (below 0%: shrinking) −12.25% (below 0%: shrinking) 100.00% 100.00% Compare
TRV The Travelers Companies, Inc. $81.0B 10.2× 10.9× −0.47% (below 0%: shrinking) +9.92% (above 0%: growing) −7.92% (below 0%: shrinking) 47.74% 20.04%
ALL The Allstate Corporation $66.1B 5.2× 6.9× +11.80% (above 0%: growing) +61.07% (above 0%: growing) +38.26% (above 0%: growing) 46.58% 22.83% Compare
CINF Cincinnati Financial Corporation $28.3B 10.7× 11.6× −18.22% (below 0%: shrinking) −58.41% (below 0%: shrinking) −29.04% (below 0%: shrinking) 18.81% 18.54% Compare
WRB W.R. Berkley Corporation $27.9B 15.8× 15.1× −0.78% (below 0%: shrinking) −10.85% (below 0%: shrinking) +6.14% (above 0%: growing) 46.55% 16.21% Compare
MKL Markel Group Inc. $23.2B 13.1× 12.3× −11.22% (below 0%: shrinking) −63.36% (below 0%: shrinking) −27.15% (below 0%: shrinking) 46.51% 9.88% Compare
L Loews Corporation $22.5B 15.0× 16.0× +1.88% (above 0%: growing) −35.23% (below 0%: shrinking) +24.71% (above 0%: growing) 50.68% 8.53% Compare
AIZ Assurant, Inc. $14.6B 14.0× 14.0× +9.37% (above 0%: growing) +30.00% (above 0%: growing) +99.03% (above 0%: growing) 78.34% 11.73% Compare
Median of peers $28.1B 12.9× 12.7× −0.24% −6.32% +15.43% 46.57% 17.38%

All 46 Insurance Property & Casualty stocks →

From the latest earnings call

Updated

  • CEO Alan Schnitzer said liability-loss pressures remain active and described digital and AI tools Travelers is using to handle claims.
  • CFO Dan Frey raised Travelers’ expected expense ratio and its fourth-quarter fixed-income investment income outlook, citing higher variable expenses and investment income.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Bank of America Oct 20, 2026 Target raised Underperform 320.00
Keefe Bruyette Oct 20, 2026 Target raised — 382.00
BMO Capital Oct 20, 2026 Target raised — 388.00
Truist Oct 20, 2026 Target raised — 435.00
Raymond James Oct 20, 2026 Target raised — 450.00
Mizuho Oct 11, 2026 Target cut — —
HSBC Oct 11, 2026 Target cut — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 88.42%
Held by the ten largest 46.44%
Holder Shares Stake Change
Vanguard 24.43m 11.71% +2.75m
BlackRock 20.95m 10.04% −683.37k
State Street 15.71m 7.53% −427.96k
Fidelity (FMR) 10.27m 4.92% −1.73m
Geode Capital Management 6.32m 3.03% +679.17k
UBS 4.45m 2.13% −399.52k
MFS Investment Management 4.24m 2.03% −662.38k
Morgan Stanley 3.83m 1.83% +254.29k
Dimensional Fund Advisors 3.56m 1.70% +71.30k
JPMorgan Chase 3.11m 1.49% −613.90k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 7 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 26.97m 55.60m 228.51
2024 23.06m 61.20m 186.72
2023 22.73m 27.64m 145.01
2022 21.07m 50.40m 139.52
2021 19.85m 37.34m 113.97
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

The Travelers Companies, Inc. (TRV) Latest News

29 Oct

Impact 4 · · Zacks
Impact 3 · · Simply Wall St.

28 Oct

Impact 4 · · Business Wire
Impact 3 · · Zacks

27 Oct

Impact 3 · · Zacks

23 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Zacks

22 Oct

Impact 3 · · Zacks

21 Oct

Impact 4 · · The Motley Fool

20 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Business Wire
Impact 3 · · PR Newswire

19 Oct

Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 3 · · StockStory

17 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool
Impact 4 · · Simply Wall St.

16 Oct

Impact 4 · · Moby
Impact 4 · · MarketBeat
Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 3 · · The Motley Fool transcript
Impact 3 · · MT Newswires
Impact 3 · · Zacks
Impact 3 · · Proactive Investors
Impact 3 · · InvestorsHub
Impact 3 · · Investing.com
Impact 3 · · Zacks

TRV metrics, ten years each

stockrow.com/TRV · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com