Cincinnati Financial Corporation (CINF) vs Old Republic International Corporation (ORI)

Cincinnati Financial Corporation and Old Republic International Corporation are both Insurance Property & Casualty companies. Cincinnati Financial Corporation is the larger, with a market value of $24.9B against $9.2B — 2.7× the size. Cincinnati Financial Corporation trades at the lower P/E: 7.6× against 8.1×. Cincinnati Financial Corporation grew revenue faster over the last twelve months: 19.6% against 12.1%. Cincinnati Financial Corporation has the higher net margin (23.8% vs 11.7%) and the higher return on invested capital (16.7% vs 12.1%). Both pay a dividend; Old Republic International Corporation yields more (3.63% vs 2.99%). Across the 23 metrics below, Cincinnati Financial Corporation leads on 16 and Old Republic International Corporation on 7.

Valuation

Metric CINF ORI Insurance Property & Casualty median
P/E 7.58 8.06 10.29
P/S 1.80 0.93 1.17
P/B 1.50 1.49 1.83
Price to free cash flow 7.37 7.07 7.48
EV/EBITDA 5.54 7.11 7.49
EV/Sales 1.73 1.12 1.13
Earnings yield 13.19% 12.41% 9.50%
Free cash flow yield 13.57% 14.14% 13.29%

Profitability

Metric CINF ORI Insurance Property & Casualty median
Gross margin 30.39% 15.79% 41.16%
Operating margin 30.16% 15.79% 15.09%
Net margin 23.84% 11.71% 11.51%
Free cash flow margin 24.37% 13.17% 17.59%
Return on equity 21.48% 18.52% 18.19%
Return on assets 8.11% 3.74% 3.74%
Return on invested capital 16.65% 12.06% 12.06%

Growth

Metric CINF ORI Insurance Property & Casualty median
Revenue growth (TTM) 19.55% 12.12% 8.69%
EPS growth (last fiscal year) 4.40% 14.81% —
Revenue growth, 5-year CAGR 10.88% 4.98% 9.23%
Net income growth, 5-year CAGR 14.50% 10.86% 10.09%

Health

Metric CINF ORI Insurance Property & Casualty median
Debt to equity 0.05 0.38 0.25
Current ratio 0.30 0.19 0.42
Net debt to EBITDA (0.17) 1.04 0.08

Dividend

Metric CINF ORI Insurance Property & Casualty median
Dividend yield 2.99% 3.63% 2.79%
Payout ratio 0.34 0.36 0.27

Size

Metric CINF ORI Insurance Property & Casualty median
Market cap 24.91b 9.16b 2.44b

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