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United Fire Group, Inc

UFCS Financial Insurance Property & Casualty

United Fire Group, Inc’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 10.6% from fiscal 2024.

Revenue
+10.6%
EPS
−10.1%
Free cash flow
+67.6%
Total debt
+24.9%

Quarter to September 2026, against a year earlier

47.21 2.11 −4.28%
Market cap
$1.2B
P/E
9.0×
Fwd P/E
11.5×
Dividend yield
1.61%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.20
Sold, $m 1.52
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — — 2 — — — — — 1 — —
Insider Ownership 16.89%

Capital & Financial Ratios $m

Size
Market Cap 1,220.00
Revenue ttm 1,510.60
Net income ttm 136.86
Free cash flow ttm 308.50
Net debt Q (150.74)
Valuation
P/E 9.03
Forward P/E 11.50
Price / sales 0.80
Forward P/S Powerpack
Price / FCF 3.93
Price / book 1.24
Financial health
Current ratio Q 0.34
Debt / equity Q 0.00
Interest coverage Q 15.06
Growth
Revenue growth Q +10.62% (above 0%: growing)
Operating income growth Q −13.48% (below 0%: shrinking)
EPS, this year +9.37%
EPS, next year A −3.92% (below 0%: weak)
Revenue, next year A +15.26% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +5.01%

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 15.43%
10-year low 10-year high
P/S against its own 10 years 54.60%
10-year low 10-year high
P/B against its own 10 years 81.52%
10-year low 10-year high

Dividends

Yield
1.61%
Annual rate
0.76
Payout ratio
14.5%
Growth, 2017–25
−6.44%/yr
  1. 1.09 ’17
  2. 1.21 ’18 +11
  3. 1.30 ’19 +7
  4. 1.14 ’20 −12
  5. 0.60 ’21 −47
  6. 0.63 ’22 +5
  7. 0.64 ’23 +2
  8. 0.64 ’24 +0
  9. 0.64 ’25 +0
  10. 0.80 ’26e +25
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 102 201 156 139
Receivables 710 696 737 836
Inventory — — — —
Other — — — —
812 897 893 975
2023 2024 2025 Q'26
Payables 2,188 2,418 2,585 2,740
ST’ Debt — — — —
Other — — — —
2,360 2,590 2,753 2,889

Compound Annual Growth %

10y 5y 3y
Sales 4.42% 5.34% 12.25%
Cash Flow 3.57% 45.45% 0.00%
Earnings 2.86% 0.00% 98.85%
Book Value 0.69% 2.67% 8.34%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.19 Actual 1.34

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.90 1.50 Beat by 0.60
Q1 FY26 0.87 1.16 Beat by 0.29
Q2 FY26 0.70 1.30 Beat by 0.60
Q3 FY26 1.19 1.34 Beat by 0.15
Q4 FY26 1.37 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.15 1.29 1.34 — —
’25 0.67 0.87 1.49 1.45 4.48
’24 0.52 (0.11) 0.76 1.21 2.39
’23 0.03 (2.23) 0.25 0.77 (1.18)
’22 1.12 (0.42) (0.91) 0.79 0.59
’21 0.74 0.54 (0.38) 2.28 3.16
’20 (2.90) 0.24 (1.49) (0.36) (4.50)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 369 384 392 — —
’25 331 335 354 366 1,386
’24 296 301 323 333 1,253
’23 267 267 274 287 1,095
’22 245 220 236 280 980
’21 301 244 249 273 1,066
’20 178 298 282 311 1,069
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 57 34 — — —
’25 36 53 61 120 270
’24 36 91 57 156 340
’23 (7) 45 112 22 172
’22 2 (17) (14) 29 (1)
’21 20 15 (17) 12 30
’20 (2) 7 (17) 54 41
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 56 34 99 — —
’25 33 52 59 119 263
’24 34 88 53 153 328
’23 (9) 42 109 19 161
’22 (1) (14) (17) 29 (3)
’21 16 12 (20) 9 16
’20 (10) 2 (21) 51 23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
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 996 1,053 1,070 1,201 1,069 1,066 980 1,095 1,253 1,386 1,511 +3.7% 1,598 1,903 — +17.2%
Gross margin, % 26.13 21.22 18.42 19.45 5.22 28.16 22.97 19.04 29.18 34.23 34.30 +8.1 pt
EBT 57 16 (9) 17 (170) 97 12 (40) 77 148 173 +11.1%
EBT margin, % 5.77 1.49 (0.86) 1.41 (15.86) 9.08 1.23 (3.63) 6.15 10.67 11.45 +4.9 pt
Net income 50 51 28 15 (113) 81 15 (30) 62 118 137 +10.1%
Per share, $
Per share, $ Revenue 39.33 41.94 42.80 47.78 42.70 42.49 38.96 43.39 49.50 54.43 0.00 +3.7%
Earnings 1.93 1.99 1.08 0.58 (4.50) 3.16 0.59 (1.18) 2.39 4.48 5.23 +9.8%
Cash flow 8.46 6.78 4.40 3.73 1.66 1.19 (0.05) 6.80 13.44 10.59 0.00 +2.5%
Capex (0.30) (0.68) (1.32) (1.29) (0.75) (0.56) (0.08) (0.43) (0.47) (0.25) 0.00 (1.9%)
Free cash flow 8.16 6.09 3.08 2.44 0.90 0.64 (0.13) 6.37 12.97 10.34 0.00 +2.7%
Book value 37.18 38.77 35.53 36.22 32.97 35.04 29.42 29.06 30.87 36.95 36.52 (0.1%)
Shares, m 25 25 25 25 25 25 25 25 25 25 26 +0.1%
Valuation, ×
Valuation, × P/E 25.41 22.89 52.01 79.51 0.00 7.29 47.55 0.00 11.95 8.11 9.03 25.5
P/S 1.25 1.08 1.30 0.92 0.59 0.55 0.71 0.47 0.57 0.67 0.80 0.8
P/B 1.33 1.17 1.56 1.21 0.76 0.66 0.94 0.70 0.92 0.98 1.24 1.0
EV/Sales 1.16 0.99 1.24 0.82 0.55 0.47 0.66 0.42 0.51 0.66 — 0.7
EV/FCF 5.61 6.81 17.16 16.09 26.15 31.35 (191.05) 2.88 1.94 3.48 — (8.0)
Cash, $m
Cash, $m Operating cash flow 214 170 110 94 41 30 (1) 172 340 270 312 +2.6%
Capex (8) (17) (33) (32) (19) (14) (2) (11) (12) (6) (3) (1.8%)
Free cash flow 207 153 77 61 23 16 (3) 161 328 263 309 +2.7%
Balance, $m
Balance, $m Working capital (1,242) (1,364) (1,441) (1,513) (1,538) (1,448) (1,427) (1,549) (1,693) (1,860) (1,914) +4.6%
Net debt (89) (96) (64) (113) (38) (82) (47) (52) (84) (10) (151) (21.5%)
Shareholders’ equity 942 973 888 910 825 879 740 734 782 941 977 0.0%
Returns, %
Returns, % ROA 1.26 1.24 0.79 0.51 (3.71) 2.65 0.51 (0.99) 1.87 3.23 3.49 +2.0 pt
ROIC 4.21 1.11 (0.69) 1.32 (13.46) 7.59 1.09 (3.34) 7.55 10.69 0.00 +6.5 pt
ROE 5.48 5.33 2.97 1.65 (12.99) 9.46 1.86 (4.03) 8.18 13.72 14.90 +8.2 pt
People
People Employees 1,112 1,180 1,183 1,185 1,165 1,086 1,091 852 877 846 — (3.0%)
Revenue/emp, $m 0.90 0.89 0.90 1.01 0.92 0.98 0.90 1.29 1.43 1.64 — +6.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

United Fire 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
SAFT Safety Insurance Group, Inc. $1.5B 22.4× — (loss-making) +2.95% (above 0%: growing) +21.03% (above 0%: growing) +16.88% (above 0%: growing) 14.33% 13.69% Compare
TRUP Trupanion, Inc. $1.5B 56.6× 50.0× +10.54% (above 0%: growing) +50.00% (above 0%: growing) +18.93% (above 0%: growing) 17.14% 0.00% Compare
STC Stewart Information Services Corporation $1.5B 12.2× 10.7× +13.02% (above 0%: growing) −36.77% (below 0%: shrinking) −12.37% (below 0%: shrinking) 64.58% 8.51% Compare
UVE UNIVERSAL INSURANCE HOLDINGS INC $1.3B 5.7× 7.5× +9.56% (above 0%: growing) +32.87% (above 0%: growing) +34.17% (above 0%: growing) 24.43% 16.44% Compare
UFCS United Fire Group, Inc $1.2B 9.0× 11.5× +10.62% (above 0%: growing) −10.07% (below 0%: shrinking) +67.57% (above 0%: growing) 33.79% 11.44%
ASIC Ategrity Specialty Insurance Company Holdings $1.2B 12.0× 11.8× +8.18% (above 0%: growing) −36.17% (below 0%: shrinking) +80.75% (above 0%: growing) 0.00% 11.63% Compare
BOW Bowhead Specialty Holdings Inc. $1.1B 19.1× 17.0× +19.34% (above 0%: growing) −12.71% (below 0%: shrinking) +68.59% (above 0%: growing) 29.41% 13.72% Compare
HRTG Heritage Insurance Holdings, Inc. $998.3M 4.8× 6.7× +2.96% (above 0%: growing) +32.90% (above 0%: growing) +237.57% (above 0%: growing) 50.25% 39.15% Compare
OIG Orion180 Insurance Group Inc. $874.5M — — — — — — — Compare
Median of peers $1.2B 12.2× 11.3× +9.56% +21.03% +34.17% 24.43% 13.69%

All 46 Insurance Property & Casualty stocks →

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together 6.06%
BlackRock, Inc. 12.60%
Dee Ann McIntyre 11.40%
Dimensional Fund Advisors LP 5.80%
The Vanguard Group 5.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

United Fire Group, Inc (UFCS) Latest News

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · Moby

3 Nov

Impact 3 · · GlobeNewswire

28 Oct

Impact 3 · · Zacks

16 Oct

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14 Oct

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30 Sep

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10 Aug

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6 Aug

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5 Aug

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4 Aug

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Impact 3 · · MarketBeat transcript
Impact 3 · · Moby transcript
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3 Aug

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27 Jul

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7 May

Impact 4 · · MarketBeat

5 May

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

14 Feb

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

13 Feb

Impact 3 · · Zacks
Impact 3 · · Zacks

11 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · Moby transcript
Impact 3 · · MarketBeat transcript

10 Feb

Impact 4 · · Zacks
Impact 3 · · Associated Press FinanceGuruFocus.comGuruFocus.com
stockrow.com/UFCS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com