Cincinnati Financial Corporation (CINF) vs The Progressive Corporation (PGR)

Cincinnati Financial Corporation and The Progressive Corporation are both Insurance Property & Casualty companies. The Progressive Corporation is the larger, with a market value of $135.1B against $28.9B — 4.7× the size. Cincinnati Financial Corporation trades at the lower P/E: 10.9× against 11.7×. Cincinnati Financial Corporation grew revenue faster over the last twelve months: 9.91% against 7.67%. Cincinnati Financial Corporation has the higher net margin (20.1% vs 12.7%) and the lower return on invested capital (13.2% vs 22.8%). Both pay a dividend; The Progressive Corporation yields more (5.96% vs 1.96%). Across the 21 metrics below, Cincinnati Financial Corporation leads on 11 and The Progressive Corporation on 10.

Valuation

Metric CINF PGR Insurance Property & Casualty median
P/E 10.90 11.71 12.17
P/S 2.17 1.48 1.26
P/B 1.78 3.93 1.85
Price to free cash flow 9.37 8.86 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.17% 8.54% 8.20%
Free cash flow yield 10.67% 11.28% 11.86%

Profitability

Metric CINF PGR Insurance Property & Casualty median
Gross margin 25.48% 17.01% 37.39%
Operating margin 25.21% 17.01% 14.67%
Net margin 20.07% 12.67% 10.16%
Free cash flow margin 23.19% 16.66% 18.60%
Return on equity 16.87% 33.24% 16.59%
Return on assets 6.41% 9.32% 3.38%
Return on invested capital 13.22% 22.84% 9.43%

Growth

Metric CINF PGR Insurance Property & Casualty median
Revenue growth (TTM) 9.91% 7.67% 5.70%
EPS growth (last fiscal year) 4.40% 33.54% 39.61%
Revenue growth, 5-year CAGR 10.88% 15.50% 9.23%
Net income growth, 5-year CAGR 14.50% 14.77% 10.09%

Health

Metric CINF PGR Insurance Property & Casualty median
Debt to equity 0.05 0.24 0.25
Current ratio 0.27 0.25 0.49
Net debt to EBITDA (0.17) 0.44 0.08

Dividend

Metric CINF PGR Insurance Property & Casualty median
Dividend yield 1.96% 5.96% 1.56%
Payout ratio 0.22 0.70 0.15

Size

Metric CINF PGR Insurance Property & Casualty median
Market cap 28.91b 135.10b 2.64b

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