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 $124.2B against $25.7B — 4.8× the size. Cincinnati Financial Corporation trades at the lower P/E: 8.0× against 10.9×. Cincinnati Financial Corporation grew revenue faster over the last twelve months: 19.6% against 5.92%. Cincinnati Financial Corporation has the higher net margin (23.8% vs 12.9%) and the lower return on invested capital (16.7% vs 49.3%). Both pay a dividend; The Progressive Corporation yields more (6.36% vs 2.15%). Across the 21 metrics below, Cincinnati Financial Corporation leads on 12 and The Progressive Corporation on 9.

Valuation

Metric CINF PGR Insurance Property & Casualty median
P/E 7.99 10.94 10.75
P/S 1.89 1.41 1.21
P/B 1.58 3.71 1.99
Price to free cash flow 7.76 7.95 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 12.52% 9.14% 9.08%
Free cash flow yield 12.88% 12.57% 12.11%

Profitability

Metric CINF PGR Insurance Property & Casualty median
Gross margin 30.39% 37.48% 41.16%
Operating margin 30.16% 37.48% 15.09%
Net margin 23.84% 12.88% 11.51%
Free cash flow margin 24.37% 0.00% 17.46%
Return on equity 21.48% 0.00% 17.34%
Return on assets 8.11% 9.32% 3.74%
Return on invested capital 16.65% 49.30% 12.06%

Growth

Metric CINF PGR Insurance Property & Casualty median
Revenue growth (TTM) 19.55% 5.92% 8.02%
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 0.30 0.28 0.42
Net debt to EBITDA (0.17) 0.44 0.08

Dividend

Metric CINF PGR Insurance Property & Casualty median
Dividend yield 2.15% 6.36% 1.50%
Payout ratio 0.17 0.70 0.14

Size

Metric CINF PGR Insurance Property & Casualty median
Market cap 25.66b 124.21b 2.67b

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