Annual Income Statements for Cincinnati Financial
This table shows Cincinnati Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Cincinnati Financial
This table shows Cincinnati Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-416 |
1,013 |
225 |
534 |
-99 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
Consolidated Net Income / (Loss) |
|
-416 |
1,013 |
225 |
534 |
-99 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
Net Income / (Loss) Continuing Operations |
|
-416 |
1,013 |
225 |
534 |
-99 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
Total Pre-Tax Income |
|
-577 |
1,287 |
268 |
666 |
-148 |
1,490 |
953 |
386 |
1,040 |
479 |
-128 |
Total Revenue |
|
1,396 |
3,089 |
2,227 |
2,592 |
1,798 |
3,342 |
2,922 |
2,530 |
3,307 |
2,525 |
2,553 |
Net Interest Income / (Expense) |
|
-14 |
-13 |
-14 |
-13 |
-13 |
-14 |
-13 |
-14 |
-13 |
-13 |
-13 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
14 |
13 |
14 |
13 |
13 |
14 |
13 |
14 |
13 |
13 |
13 |
Long-Term Debt Interest Expense |
|
14 |
13 |
14 |
13 |
13 |
14 |
13 |
14 |
13 |
13 |
13 |
Total Non-Interest Income |
|
1,410 |
3,115 |
2,241 |
2,605 |
1,811 |
3,356 |
2,935 |
2,544 |
3,320 |
2,538 |
2,566 |
Other Service Charges |
|
7.00 |
5.00 |
7.00 |
8.00 |
9.00 |
10 |
7.00 |
9.00 |
7.00 |
9.00 |
9.00 |
Net Realized & Unrealized Capital Gains on Investments |
|
-481 |
1,235 |
316 |
654 |
-231 |
1,282 |
857 |
379 |
1,016 |
164 |
213 |
Premiums Earned |
|
1,884 |
1,875 |
1,918 |
1,943 |
2,033 |
2,064 |
2,071 |
2,156 |
2,297 |
2,365 |
2,344 |
Total Non-Interest Expense |
|
1,973 |
1,815 |
1,959 |
1,926 |
1,946 |
1,852 |
1,969 |
2,144 |
2,267 |
2,046 |
2,681 |
Property & Liability Insurance Claims |
|
1,418 |
1,247 |
1,398 |
1,340 |
1,332 |
1,204 |
1,349 |
1,480 |
1,578 |
1,330 |
1,968 |
Other Operating Expenses |
|
4.00 |
10 |
5.00 |
7.00 |
5.00 |
8.00 |
4.00 |
9.00 |
6.00 |
13 |
11 |
Restructuring Charge |
|
551 |
558 |
556 |
579 |
609 |
640 |
616 |
655 |
683 |
703 |
702 |
Income Tax Expense |
|
-161 |
274 |
43 |
132 |
-49 |
307 |
198 |
74 |
220 |
74 |
-38 |
Basic Earnings per Share |
|
($2.63) |
$6.35 |
$1.43 |
$3.40 |
($0.63) |
$7.54 |
$4.82 |
$1.99 |
$5.25 |
$2.59 |
($0.57) |
Weighted Average Basic Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Diluted Earnings per Share |
|
($2.63) |
$6.35 |
$1.42 |
$3.38 |
($0.63) |
$7.49 |
$4.78 |
$1.98 |
$5.20 |
$2.57 |
($0.57) |
Weighted Average Diluted Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Weighted Average Basic & Diluted Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Cash Dividends to Common per Share |
|
- |
- |
- |
- |
$0.75 |
- |
- |
- |
$0.81 |
- |
$0.87 |
Annual Cash Flow Statements for Cincinnati Financial
This table details how cash moves in and out of Cincinnati Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-47 |
233 |
-120 |
127 |
-17 |
133 |
239 |
125 |
-357 |
76 |
Net Cash From Operating Activities |
|
1,075 |
1,115 |
1,052 |
1,181 |
1,208 |
1,491 |
1,981 |
2,052 |
2,052 |
2,649 |
Net Cash From Continuing Operating Activities |
|
1,075 |
1,115 |
1,052 |
1,181 |
1,208 |
1,491 |
1,981 |
2,052 |
2,052 |
2,649 |
Net Income / (Loss) Continuing Operations |
|
634 |
591 |
1,045 |
287 |
1,997 |
1,216 |
2,968 |
-487 |
1,843 |
2,292 |
Consolidated Net Income / (Loss) |
|
634 |
591 |
1,045 |
287 |
1,997 |
1,216 |
2,968 |
-487 |
1,843 |
2,292 |
Depreciation Expense |
|
52 |
48 |
55 |
63 |
72 |
109 |
118 |
127 |
112 |
130 |
Non-Cash Adjustments to Reconcile Net Income |
|
10 |
-15 |
-518 |
597 |
-1,223 |
-672 |
-1,825 |
1,181 |
-840 |
-1,206 |
Changes in Operating Assets and Liabilities, net |
|
379 |
491 |
470 |
234 |
362 |
838 |
720 |
1,231 |
937 |
1,433 |
Net Cash From Investing Activities |
|
-624 |
-456 |
-558 |
-451 |
-679 |
-560 |
-1,057 |
-933 |
-1,608 |
-1,696 |
Net Cash From Continuing Investing Activities |
|
-624 |
-456 |
-558 |
-451 |
-679 |
-560 |
-1,057 |
-933 |
-1,608 |
-1,696 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-10 |
-13 |
-16 |
-20 |
-24 |
-20 |
-15 |
-15 |
-18 |
-22 |
Purchase of Investment Securities |
|
-2,228 |
-2,464 |
-2,283 |
-2,022 |
-2,230 |
-2,131 |
-2,637 |
-2,468 |
-2,917 |
-6,460 |
Sale and/or Maturity of Investments |
|
1,614 |
2,021 |
1,741 |
1,591 |
1,575 |
1,591 |
1,597 |
1,543 |
1,342 |
4,801 |
Other Investing Activities, net |
|
- |
- |
- |
- |
- |
- |
-2.00 |
7.00 |
-15 |
-15 |
Net Cash From Financing Activities |
|
-498 |
-426 |
-614 |
-603 |
-546 |
-798 |
-685 |
-994 |
-801 |
-877 |
Net Cash From Continuing Financing Activities |
|
-498 |
-426 |
-614 |
-603 |
-546 |
-798 |
-685 |
-994 |
-801 |
-877 |
Issuance of Debt |
|
-14 |
- |
4.00 |
8.00 |
7.00 |
15 |
0.00 |
-4.00 |
-25 |
0.00 |
Repurchase of Common Equity |
|
-53 |
-39 |
-92 |
-125 |
-67 |
-261 |
-144 |
-410 |
-67 |
-126 |
Payment of Dividends |
|
-366 |
-306 |
-400 |
-336 |
-355 |
-375 |
-395 |
-423 |
-454 |
-490 |
Other Financing Activities, Net |
|
-65 |
-66 |
-126 |
-90 |
-131 |
-177 |
-146 |
-157 |
-255 |
-261 |
Cash Interest Paid |
|
52 |
52 |
52 |
53 |
53 |
53 |
52 |
53 |
54 |
53 |
Cash Income Taxes Paid |
|
245 |
213 |
60 |
98 |
34 |
84 |
257 |
165 |
136 |
395 |
Quarterly Cash Flow Statements for Cincinnati Financial
This table details how cash moves in and out of Cincinnati Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
-15 |
181 |
-309 |
-207 |
151 |
8.00 |
-288 |
152 |
981 |
-769 |
27 |
Net Cash From Operating Activities |
|
666 |
631 |
250 |
575 |
650 |
577 |
353 |
742 |
912 |
642 |
310 |
Net Cash From Continuing Operating Activities |
|
666 |
631 |
250 |
575 |
650 |
577 |
353 |
742 |
912 |
642 |
310 |
Net Income / (Loss) Continuing Operations |
|
-416 |
1,013 |
225 |
534 |
-99 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
Consolidated Net Income / (Loss) |
|
-416 |
1,013 |
225 |
534 |
-99 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
Depreciation Expense |
|
24 |
25 |
40 |
34 |
14 |
24 |
34 |
42 |
39 |
15 |
47 |
Non-Cash Adjustments to Reconcile Net Income |
|
515 |
-795 |
-56 |
-341 |
363 |
-806 |
-460 |
-112 |
-694 |
60 |
89 |
Changes in Operating Assets and Liabilities, net |
|
543 |
388 |
41 |
348 |
372 |
176 |
24 |
500 |
747 |
162 |
264 |
Net Cash From Investing Activities |
|
-322 |
-287 |
-362 |
-558 |
-318 |
-370 |
-355 |
-385 |
251 |
-1,207 |
-58 |
Net Cash From Continuing Investing Activities |
|
-322 |
-287 |
-362 |
-558 |
-318 |
-370 |
-355 |
-385 |
251 |
-1,207 |
-58 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-4.00 |
-3.00 |
-4.00 |
-4.00 |
-2.00 |
-8.00 |
-7.00 |
-5.00 |
-6.00 |
-4.00 |
-3.00 |
Purchase of Investment Securities |
|
-683 |
-578 |
-628 |
-863 |
-621 |
-805 |
-1,080 |
-799 |
-2,268 |
-2,313 |
-739 |
Sale and/or Maturity of Investments |
|
364 |
299 |
273 |
312 |
309 |
448 |
730 |
425 |
2,531 |
1,115 |
687 |
Other Investing Activities, net |
|
1.00 |
-5.00 |
-3.00 |
-3.00 |
-4.00 |
-5.00 |
2.00 |
-6.00 |
-6.00 |
-5.00 |
-3.00 |
Net Cash From Financing Activities |
|
-359 |
-163 |
-197 |
-224 |
-181 |
-199 |
-286 |
-205 |
-182 |
-204 |
-225 |
Net Cash From Continuing Financing Activities |
|
-359 |
-163 |
-197 |
-224 |
-181 |
-199 |
-286 |
-205 |
-182 |
-204 |
-225 |
Repurchase of Common Equity |
|
-203 |
-11 |
-25 |
-41 |
-1.00 |
- |
-75 |
-46 |
- |
-5.00 |
-42 |
Payment of Dividends |
|
-108 |
-107 |
-106 |
-117 |
-115 |
-116 |
-116 |
-125 |
-124 |
-125 |
-125 |
Other Financing Activities, Net |
|
-48 |
-51 |
-66 |
-41 |
-65 |
-83 |
-95 |
-34 |
-58 |
-74 |
-58 |
Cash Income Taxes Paid |
|
2.00 |
21 |
76 |
3.00 |
15 |
42 |
106 |
68 |
47 |
174 |
2.00 |
Annual Balance Sheets for Cincinnati Financial
This table presents Cincinnati Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
18,888 |
20,386 |
21,843 |
21,935 |
25,408 |
27,542 |
31,387 |
29,732 |
32,769 |
36,501 |
Cash and Due from Banks |
|
544 |
777 |
657 |
784 |
767 |
900 |
1,139 |
1,264 |
907 |
983 |
Trading Account Securities |
|
14,356 |
15,419 |
16,948 |
5,920 |
19,450 |
21,194 |
24,337 |
21,973 |
24,780 |
27,367 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
129 |
134 |
134 |
132 |
133 |
136 |
144 |
160 |
192 |
222 |
Premises and Equipment, Net |
|
185 |
183 |
185 |
195 |
207 |
213 |
205 |
202 |
208 |
214 |
Unearned Premiums Asset |
|
1,485 |
1,595 |
1,631 |
1,688 |
1,831 |
1,944 |
2,131 |
2,373 |
2,647 |
3,039 |
Deferred Acquisition Cost |
|
616 |
637 |
670 |
738 |
774 |
805 |
905 |
1,013 |
1,093 |
1,242 |
Separate Account Business Assets |
|
748 |
766 |
806 |
803 |
882 |
952 |
959 |
892 |
925 |
952 |
Other Assets |
|
763 |
824 |
751 |
11,604 |
1,287 |
1,303 |
1,469 |
1,763 |
2,017 |
2,482 |
Total Liabilities & Shareholders' Equity |
|
18,888 |
20,386 |
21,843 |
21,935 |
25,408 |
27,542 |
31,387 |
29,732 |
32,769 |
36,501 |
Total Liabilities |
|
12,461 |
13,326 |
13,600 |
14,102 |
15,544 |
16,753 |
18,282 |
19,170 |
20,671 |
22,566 |
Long-Term Debt |
|
856 |
846 |
851 |
866 |
885 |
899 |
897 |
891 |
874 |
875 |
Claims and Claim Expense |
|
4,718 |
5,085 |
5,273 |
5,707 |
6,147 |
6,746 |
7,305 |
8,400 |
9,050 |
10,003 |
Future Policy Benefits |
|
2,583 |
2,671 |
2,729 |
2,779 |
2,835 |
2,915 |
3,014 |
3,015 |
3,068 |
2,960 |
Unearned Premiums Liability |
|
2,201 |
2,307 |
2,404 |
2,516 |
2,788 |
2,960 |
3,271 |
3,689 |
4,119 |
4,813 |
Separate Account Business Liabilities |
|
748 |
766 |
806 |
803 |
882 |
952 |
959 |
892 |
925 |
952 |
Other Long-Term Liabilities |
|
1,355 |
1,651 |
1,537 |
1,431 |
2,007 |
2,281 |
2,836 |
2,283 |
2,635 |
2,963 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
6,427 |
7,060 |
8,243 |
7,833 |
9,864 |
10,789 |
13,105 |
10,562 |
12,098 |
13,935 |
Total Preferred & Common Equity |
|
6,427 |
7,060 |
8,243 |
7,833 |
9,864 |
10,789 |
13,105 |
10,562 |
12,098 |
13,935 |
Total Common Equity |
|
6,427 |
7,060 |
8,243 |
7,833 |
9,864 |
10,789 |
13,105 |
10,562 |
12,098 |
13,935 |
Common Stock |
|
1,629 |
1,649 |
1,662 |
1,678 |
1,703 |
1,725 |
1,753 |
1,789 |
1,834 |
1,899 |
Retained Earnings |
|
4,762 |
5,037 |
5,180 |
7,625 |
9,257 |
10,085 |
12,625 |
11,711 |
13,084 |
14,869 |
Treasury Stock |
|
-1,308 |
-1,319 |
-1,387 |
-1,492 |
-1,544 |
-1,790 |
-1,921 |
-2,324 |
-2,385 |
-2,524 |
Accumulated Other Comprehensive Income / (Loss) |
|
1,344 |
1,693 |
2,788 |
22 |
448 |
769 |
648 |
-614 |
-435 |
-309 |
Quarterly Balance Sheets for Cincinnati Financial
This table presents Cincinnati Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Total Assets |
|
28,199 |
29,732 |
30,474 |
31,352 |
30,915 |
32,769 |
33,727 |
34,802 |
37,009 |
36,501 |
37,276 |
Cash and Due from Banks |
|
1,083 |
1,264 |
955 |
748 |
899 |
907 |
619 |
771 |
1,752 |
983 |
1,010 |
Trading Account Securities |
|
20,574 |
21,973 |
22,645 |
23,372 |
22,874 |
24,780 |
25,641 |
26,043 |
27,441 |
27,367 |
27,641 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
152 |
160 |
160 |
163 |
182 |
192 |
202 |
201 |
199 |
222 |
224 |
Premises and Equipment, Net |
|
204 |
202 |
199 |
198 |
199 |
208 |
211 |
213 |
215 |
214 |
216 |
Unearned Premiums Asset |
|
2,494 |
2,373 |
2,566 |
2,844 |
2,723 |
2,647 |
2,882 |
3,212 |
3,106 |
3,039 |
3,256 |
Deferred Acquisition Cost |
|
1,036 |
1,013 |
1,048 |
1,109 |
1,101 |
1,093 |
1,143 |
1,229 |
1,241 |
1,242 |
1,297 |
Separate Account Business Assets |
|
888 |
892 |
899 |
911 |
918 |
925 |
927 |
948 |
943 |
952 |
959 |
Other Assets |
|
1,681 |
1,763 |
1,908 |
1,909 |
1,916 |
2,017 |
1,996 |
2,074 |
1,996 |
2,482 |
2,673 |
Total Liabilities & Shareholders' Equity |
|
28,199 |
29,732 |
30,474 |
31,352 |
30,915 |
32,769 |
33,727 |
34,802 |
37,009 |
36,501 |
37,276 |
Total Liabilities |
|
18,768 |
19,170 |
19,733 |
20,322 |
20,291 |
20,671 |
21,073 |
22,025 |
23,205 |
22,566 |
23,558 |
Long-Term Debt |
|
887 |
891 |
895 |
867 |
869 |
874 |
873 |
874 |
874 |
875 |
878 |
Claims and Claim Expense |
|
8,113 |
8,400 |
8,693 |
8,873 |
9,077 |
9,050 |
9,246 |
9,555 |
9,928 |
10,003 |
10,780 |
Future Policy Benefits |
|
3,053 |
3,015 |
3,059 |
3,038 |
2,920 |
3,068 |
3,013 |
2,966 |
3,069 |
2,960 |
2,968 |
Unearned Premiums Liability |
|
3,798 |
3,689 |
3,890 |
4,222 |
4,195 |
4,119 |
4,398 |
4,826 |
4,874 |
4,813 |
5,068 |
Separate Account Business Liabilities |
|
888 |
892 |
899 |
911 |
918 |
925 |
927 |
948 |
943 |
952 |
959 |
Other Long-Term Liabilities |
|
2,029 |
2,283 |
2,297 |
2,411 |
2,312 |
2,635 |
2,616 |
2,856 |
3,517 |
2,963 |
2,905 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
9,431 |
10,562 |
10,741 |
11,030 |
10,624 |
12,098 |
12,654 |
12,777 |
13,804 |
13,935 |
13,718 |
Total Preferred & Common Equity |
|
9,431 |
10,562 |
10,741 |
11,030 |
10,624 |
12,098 |
12,654 |
12,777 |
13,804 |
13,935 |
13,718 |
Total Common Equity |
|
9,431 |
10,562 |
10,741 |
11,030 |
10,624 |
12,098 |
12,654 |
12,777 |
13,804 |
13,935 |
13,718 |
Common Stock |
|
1,776 |
1,789 |
1,795 |
1,807 |
1,819 |
1,834 |
1,843 |
1,863 |
1,879 |
1,899 |
1,908 |
Retained Earnings |
|
10,797 |
11,711 |
11,818 |
12,235 |
12,018 |
13,084 |
13,712 |
13,897 |
14,591 |
14,869 |
14,644 |
Treasury Stock |
|
-2,314 |
-2,324 |
-2,345 |
-2,386 |
-2,386 |
-2,385 |
-2,459 |
-2,513 |
-2,516 |
-2,524 |
-2,563 |
Accumulated Other Comprehensive Income / (Loss) |
|
-828 |
-614 |
-527 |
-626 |
-827 |
-435 |
-442 |
-470 |
-150 |
-309 |
-271 |
Annual Metrics And Ratios for Cincinnati Financial
This table displays calculated financial ratios and metrics derived from Cincinnati Financial's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
4.03% |
6.03% |
5.24% |
-5.72% |
47.01% |
-4.94% |
27.95% |
-32.00% |
52.98% |
13.30% |
EBITDA Growth |
|
20.85% |
-7.82% |
-8.72% |
-60.00% |
710.19% |
-36.79% |
137.31% |
-114.86% |
521.16% |
25.13% |
EBIT Growth |
|
22.19% |
-7.83% |
-10.10% |
-65.62% |
884.86% |
-39.36% |
146.70% |
-118.77% |
427.95% |
25.57% |
NOPAT Growth |
|
20.76% |
-6.78% |
76.82% |
-72.54% |
595.82% |
-39.11% |
144.08% |
-116.37% |
479.37% |
24.36% |
Net Income Growth |
|
20.76% |
-6.78% |
76.82% |
-72.54% |
595.82% |
-39.11% |
144.08% |
-116.41% |
478.44% |
24.36% |
EPS Growth |
|
20.44% |
-7.31% |
77.18% |
-72.18% |
591.43% |
-38.10% |
143.52% |
-116.78% |
481.05% |
24.61% |
Operating Cash Flow Growth |
|
23.14% |
3.72% |
-5.65% |
12.26% |
2.29% |
23.43% |
32.86% |
3.58% |
0.00% |
29.09% |
Free Cash Flow Firm Growth |
|
783.33% |
-104.03% |
-346.88% |
576.92% |
-107.77% |
622.64% |
136.10% |
215.47% |
-84.30% |
40.12% |
Invested Capital Growth |
|
-2.16% |
8.55% |
15.03% |
-4.34% |
23.57% |
8.74% |
19.80% |
-18.20% |
13.26% |
14.17% |
Revenue Q/Q Growth |
|
0.02% |
0.90% |
1.77% |
-11.56% |
22.43% |
7.79% |
6.98% |
-3.27% |
2.61% |
-6.75% |
EBITDA Q/Q Growth |
|
-2.10% |
-9.19% |
9.79% |
-71.25% |
115.78% |
54.02% |
17.20% |
-2,055.17% |
9.89% |
-25.45% |
EBIT Q/Q Growth |
|
-2.22% |
-9.78% |
10.44% |
-75.61% |
122.70% |
55.50% |
17.77% |
-468.85% |
10.49% |
-26.13% |
NOPAT Q/Q Growth |
|
-1.71% |
-8.66% |
107.75% |
-79.22% |
117.30% |
53.34% |
17.54% |
-414.07% |
10.16% |
-25.34% |
Net Income Q/Q Growth |
|
-1.71% |
-8.66% |
107.75% |
-79.22% |
117.30% |
53.34% |
17.54% |
-1,523.33% |
10.16% |
-25.34% |
EPS Q/Q Growth |
|
-1.54% |
-8.97% |
108.28% |
-79.12% |
118.41% |
54.12% |
17.68% |
-705.26% |
10.84% |
-25.30% |
Operating Cash Flow Q/Q Growth |
|
8.04% |
-3.46% |
2.53% |
4.33% |
-2.19% |
3.04% |
4.81% |
8.92% |
-2.56% |
2.52% |
Free Cash Flow Firm Q/Q Growth |
|
15.55% |
70.91% |
-236.19% |
23.33% |
62.94% |
-17.80% |
32.93% |
-11.55% |
-34.94% |
494.78% |
Invested Capital Q/Q Growth |
|
1.00% |
-0.78% |
8.70% |
-5.38% |
4.81% |
9.11% |
9.86% |
11.00% |
12.87% |
0.90% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
18.33% |
15.94% |
13.82% |
5.86% |
32.32% |
21.49% |
39.86% |
-8.71% |
23.98% |
26.48% |
EBIT Margin |
|
17.31% |
15.05% |
12.85% |
4.69% |
31.41% |
20.03% |
38.63% |
-10.66% |
22.85% |
25.33% |
Profit (Net Income) Margin |
|
12.46% |
10.95% |
18.40% |
5.36% |
25.37% |
16.25% |
31.00% |
-7.48% |
18.51% |
20.31% |
Tax Burden Percent |
|
71.96% |
72.78% |
143.15% |
114.34% |
80.78% |
81.12% |
80.26% |
70.17% |
80.98% |
80.20% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
28.04% |
27.22% |
-43.15% |
-14.34% |
19.22% |
18.88% |
19.74% |
0.00% |
19.02% |
19.80% |
Return on Invested Capital (ROIC) |
|
8.61% |
7.78% |
12.29% |
3.23% |
20.54% |
10.84% |
23.11% |
-3.82% |
15.09% |
16.50% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
8.61% |
7.78% |
12.29% |
3.23% |
20.54% |
10.84% |
23.11% |
-3.95% |
15.09% |
16.50% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.14% |
0.98% |
1.36% |
0.34% |
2.03% |
0.94% |
1.74% |
-0.30% |
1.18% |
1.11% |
Return on Equity (ROE) |
|
9.75% |
8.76% |
13.66% |
3.57% |
22.57% |
11.78% |
24.84% |
-4.12% |
16.27% |
17.61% |
Cash Return on Invested Capital (CROIC) |
|
10.80% |
-0.42% |
-1.68% |
7.67% |
-0.55% |
2.47% |
5.09% |
16.21% |
2.65% |
3.27% |
Operating Return on Assets (OROA) |
|
4.68% |
4.14% |
3.46% |
1.15% |
10.44% |
5.66% |
12.55% |
-2.27% |
7.28% |
8.25% |
Return on Assets (ROA) |
|
3.37% |
3.01% |
4.95% |
1.31% |
8.44% |
4.59% |
10.07% |
-1.59% |
5.90% |
6.62% |
Return on Common Equity (ROCE) |
|
9.75% |
8.76% |
13.66% |
3.57% |
22.57% |
11.78% |
24.84% |
-4.12% |
16.27% |
17.61% |
Return on Equity Simple (ROE_SIMPLE) |
|
9.86% |
8.37% |
12.68% |
3.66% |
20.25% |
11.27% |
22.65% |
-4.61% |
15.23% |
16.45% |
Net Operating Profit after Tax (NOPAT) |
|
634 |
591 |
1,045 |
287 |
1,997 |
1,216 |
2,968 |
-486 |
1,843 |
2,292 |
NOPAT Margin |
|
12.46% |
10.95% |
18.40% |
5.36% |
25.37% |
16.25% |
31.00% |
-7.46% |
18.51% |
20.31% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.13% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
82.69% |
84.95% |
87.15% |
95.31% |
68.59% |
79.97% |
61.37% |
110.66% |
77.15% |
74.67% |
Earnings before Interest and Taxes (EBIT) |
|
881 |
812 |
730 |
251 |
2,472 |
1,499 |
3,698 |
-694 |
2,276 |
2,858 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
933 |
860 |
785 |
314 |
2,544 |
1,608 |
3,816 |
-567 |
2,388 |
2,988 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.21 |
1.46 |
1.27 |
1.41 |
1.56 |
1.21 |
1.33 |
1.44 |
1.31 |
1.61 |
Price to Tangible Book Value (P/TBV) |
|
1.21 |
1.46 |
1.27 |
1.41 |
1.56 |
1.21 |
1.33 |
1.44 |
1.31 |
1.61 |
Price to Revenue (P/Rev) |
|
1.53 |
1.91 |
1.85 |
2.07 |
1.96 |
1.74 |
1.82 |
2.34 |
1.59 |
1.99 |
Price to Earnings (P/E) |
|
12.28 |
17.42 |
10.04 |
38.54 |
7.72 |
10.72 |
5.86 |
0.00 |
8.59 |
9.80 |
Dividend Yield |
|
5.81% |
3.07% |
3.91% |
3.12% |
2.37% |
2.96% |
2.33% |
2.85% |
2.97% |
2.25% |
Earnings Yield |
|
8.14% |
5.74% |
9.96% |
2.59% |
12.95% |
9.33% |
17.05% |
0.00% |
11.65% |
10.20% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.11 |
1.31 |
1.18 |
1.28 |
1.45 |
1.12 |
1.23 |
1.30 |
1.22 |
1.51 |
Enterprise Value to Revenue (EV/Rev) |
|
1.59 |
1.92 |
1.88 |
2.08 |
1.97 |
1.74 |
1.79 |
2.28 |
1.59 |
1.98 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
8.68 |
12.05 |
13.62 |
35.49 |
6.11 |
8.11 |
4.50 |
0.00 |
6.61 |
7.48 |
Enterprise Value to EBIT (EV/EBIT) |
|
9.19 |
12.77 |
14.64 |
44.39 |
6.29 |
8.70 |
4.64 |
0.00 |
6.94 |
7.82 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
12.77 |
17.54 |
10.23 |
38.83 |
7.78 |
10.72 |
5.78 |
0.00 |
8.57 |
9.75 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
7.53 |
9.30 |
10.16 |
9.44 |
12.86 |
8.74 |
8.66 |
7.25 |
7.70 |
8.44 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
10.19 |
0.00 |
0.00 |
16.34 |
0.00 |
47.07 |
26.24 |
7.21 |
48.74 |
49.24 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.13 |
0.12 |
0.10 |
0.11 |
0.09 |
0.08 |
0.07 |
0.08 |
0.07 |
0.06 |
Long-Term Debt to Equity |
|
0.13 |
0.12 |
0.10 |
0.11 |
0.09 |
0.08 |
0.07 |
0.08 |
0.07 |
0.06 |
Financial Leverage |
|
0.13 |
0.13 |
0.11 |
0.11 |
0.10 |
0.09 |
0.08 |
0.08 |
0.08 |
0.07 |
Leverage Ratio |
|
2.90 |
2.91 |
2.76 |
2.72 |
2.68 |
2.56 |
2.47 |
2.58 |
2.76 |
2.66 |
Compound Leverage Factor |
|
2.90 |
2.91 |
2.76 |
2.72 |
2.68 |
2.56 |
2.47 |
2.58 |
2.76 |
2.66 |
Debt to Total Capital |
|
11.75% |
10.70% |
9.36% |
9.96% |
8.23% |
7.69% |
6.41% |
7.78% |
6.74% |
5.91% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
11.75% |
10.70% |
9.36% |
9.96% |
8.23% |
7.69% |
6.41% |
7.78% |
6.74% |
5.91% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
88.25% |
89.30% |
90.64% |
90.04% |
91.77% |
92.31% |
93.59% |
92.22% |
93.26% |
94.09% |
Debt to EBITDA |
|
0.92 |
0.98 |
1.08 |
2.76 |
0.35 |
0.56 |
0.24 |
-1.57 |
0.37 |
0.29 |
Net Debt to EBITDA |
|
0.33 |
0.08 |
0.25 |
0.26 |
0.05 |
0.00 |
-0.06 |
0.66 |
-0.01 |
-0.04 |
Long-Term Debt to EBITDA |
|
0.92 |
0.98 |
1.08 |
2.76 |
0.35 |
0.56 |
0.24 |
-1.57 |
0.37 |
0.29 |
Debt to NOPAT |
|
1.35 |
1.43 |
0.81 |
3.02 |
0.44 |
0.74 |
0.30 |
-1.83 |
0.47 |
0.38 |
Net Debt to NOPAT |
|
0.49 |
0.12 |
0.19 |
0.29 |
0.06 |
0.00 |
-0.08 |
0.77 |
-0.02 |
-0.05 |
Long-Term Debt to NOPAT |
|
1.35 |
1.43 |
0.81 |
3.02 |
0.44 |
0.74 |
0.30 |
-1.83 |
0.47 |
0.38 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
795 |
-32 |
-143 |
682 |
-53 |
277 |
654 |
2,063 |
324 |
454 |
Operating Cash Flow to CapEx |
|
10,750.00% |
8,576.92% |
6,575.00% |
5,905.00% |
5,033.33% |
7,455.00% |
13,206.67% |
13,680.00% |
11,400.00% |
12,040.91% |
Free Cash Flow to Firm to Interest Expense |
|
15.00 |
-0.60 |
-2.70 |
12.87 |
-1.00 |
5.13 |
12.34 |
38.93 |
6.00 |
8.57 |
Operating Cash Flow to Interest Expense |
|
20.28 |
21.04 |
19.85 |
22.28 |
22.79 |
27.61 |
37.38 |
38.72 |
38.00 |
49.98 |
Operating Cash Flow Less CapEx to Interest Expense |
|
20.09 |
20.79 |
19.55 |
21.91 |
22.34 |
27.24 |
37.09 |
38.43 |
37.67 |
49.57 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.27 |
0.27 |
0.27 |
0.24 |
0.33 |
0.28 |
0.32 |
0.21 |
0.32 |
0.33 |
Fixed Asset Turnover |
|
26.85 |
29.33 |
30.86 |
28.18 |
39.16 |
35.63 |
45.80 |
31.99 |
48.58 |
53.48 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
7,283 |
7,906 |
9,094 |
8,699 |
10,749 |
11,688 |
14,002 |
11,453 |
12,972 |
14,810 |
Invested Capital Turnover |
|
0.69 |
0.71 |
0.67 |
0.60 |
0.81 |
0.67 |
0.75 |
0.51 |
0.82 |
0.81 |
Increase / (Decrease) in Invested Capital |
|
-161 |
623 |
1,188 |
-395 |
2,050 |
939 |
2,314 |
-2,549 |
1,519 |
1,838 |
Enterprise Value (EV) |
|
8,098 |
10,367 |
10,689 |
11,143 |
15,539 |
13,038 |
17,162 |
14,870 |
15,792 |
22,354 |
Market Capitalization |
|
7,786 |
10,298 |
10,495 |
11,061 |
15,421 |
13,039 |
17,404 |
15,243 |
15,825 |
22,462 |
Book Value per Share |
|
$39.22 |
$42.85 |
$50.24 |
$48.13 |
$60.38 |
$67.06 |
$81.33 |
$67.20 |
$77.10 |
$89.15 |
Tangible Book Value per Share |
|
$39.22 |
$42.85 |
$50.24 |
$48.13 |
$60.38 |
$67.06 |
$81.33 |
$67.20 |
$77.10 |
$89.15 |
Total Capital |
|
7,283 |
7,906 |
9,094 |
8,699 |
10,749 |
11,688 |
14,002 |
11,453 |
12,972 |
14,810 |
Total Debt |
|
856 |
846 |
851 |
866 |
885 |
899 |
897 |
891 |
874 |
875 |
Total Long-Term Debt |
|
856 |
846 |
851 |
866 |
885 |
899 |
897 |
891 |
874 |
875 |
Net Debt |
|
312 |
69 |
194 |
82 |
118 |
-1.00 |
-242 |
-373 |
-33 |
-108 |
Capital Expenditures (CapEx) |
|
10 |
13 |
16 |
20 |
24 |
20 |
15 |
15 |
18 |
22 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.20 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
856 |
846 |
851 |
866 |
885 |
899 |
897 |
891 |
874 |
875 |
Total Depreciation and Amortization (D&A) |
|
52 |
48 |
55 |
63 |
72 |
109 |
118 |
127 |
112 |
130 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$3.87 |
$3.59 |
$6.36 |
$1.76 |
$12.24 |
$7.55 |
$18.29 |
($3.06) |
$11.74 |
$14.65 |
Adjusted Weighted Average Basic Shares Outstanding |
|
164.34M |
164.72M |
163.99M |
162.94M |
162.69M |
161.20M |
160.43M |
157.24M |
156.67M |
156.52M |
Adjusted Diluted Earnings per Share |
|
$3.83 |
$3.55 |
$6.29 |
$1.75 |
$12.10 |
$7.49 |
$18.10 |
($3.06) |
$11.66 |
$14.53 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
164.34M |
164.72M |
163.99M |
162.94M |
162.69M |
161.20M |
160.43M |
157.24M |
156.67M |
156.52M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
164.34M |
164.72M |
163.99M |
162.94M |
162.69M |
161.20M |
160.43M |
157.24M |
156.67M |
156.52M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
634 |
1,657 |
1,593 |
1,294 |
3,401 |
2,700 |
4,530 |
1,028 |
3,773 |
4,423 |
Normalized NOPAT Margin |
|
12.46% |
30.71% |
28.05% |
24.16% |
43.21% |
36.08% |
47.32% |
15.78% |
37.89% |
39.20% |
Pre Tax Income Margin |
|
17.31% |
15.05% |
12.85% |
4.69% |
31.41% |
20.03% |
38.63% |
-10.66% |
22.85% |
25.33% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
16.62 |
15.32 |
13.77 |
4.74 |
46.64 |
27.76 |
69.77 |
-13.09 |
42.15 |
53.92 |
NOPAT to Interest Expense |
|
11.96 |
11.15 |
19.72 |
5.42 |
37.68 |
22.52 |
56.00 |
-9.17 |
34.13 |
43.25 |
EBIT Less CapEx to Interest Expense |
|
16.43 |
15.08 |
13.47 |
4.36 |
46.19 |
27.39 |
69.49 |
-13.38 |
41.81 |
53.51 |
NOPAT Less CapEx to Interest Expense |
|
11.77 |
10.91 |
19.42 |
5.04 |
37.23 |
22.15 |
55.72 |
-9.45 |
33.80 |
42.83 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
57.73% |
51.78% |
38.28% |
117.07% |
17.78% |
30.84% |
13.31% |
-86.86% |
24.63% |
21.38% |
Augmented Payout Ratio |
|
66.09% |
58.38% |
47.08% |
160.63% |
21.13% |
52.30% |
18.16% |
-171.05% |
28.27% |
26.88% |
Quarterly Metrics And Ratios for Cincinnati Financial
This table displays calculated financial ratios and metrics derived from Cincinnati Financial's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-21.22% |
-6.54% |
84.81% |
216.10% |
28.80% |
8.19% |
31.21% |
-2.39% |
83.93% |
-24.45% |
-12.63% |
EBITDA Growth |
|
-367.15% |
-32.45% |
198.09% |
170.07% |
75.77% |
16.55% |
220.45% |
-38.86% |
905.22% |
-67.37% |
-108.21% |
EBIT Growth |
|
-413.59% |
-32.02% |
176.35% |
164.04% |
74.35% |
16.95% |
255.60% |
-42.04% |
802.70% |
-67.85% |
-113.43% |
NOPAT Growth |
|
-363.99% |
-32.10% |
191.58% |
172.45% |
74.35% |
16.78% |
235.56% |
-41.57% |
891.51% |
-65.77% |
-111.87% |
Net Income Growth |
|
-371.90% |
-32.10% |
184.59% |
165.28% |
76.20% |
16.78% |
235.56% |
-41.57% |
928.28% |
-65.77% |
-111.92% |
EPS Growth |
|
-379.79% |
-30.75% |
185.54% |
166.02% |
76.05% |
17.95% |
236.62% |
-41.42% |
925.40% |
-65.69% |
-111.92% |
Operating Cash Flow Growth |
|
10.82% |
36.29% |
26.26% |
3.23% |
-2.40% |
-8.56% |
41.20% |
29.04% |
40.31% |
11.27% |
-12.18% |
Free Cash Flow Firm Growth |
|
207.61% |
533.33% |
232.61% |
-87.29% |
-163.20% |
-109.43% |
-172.31% |
-2,022.67% |
-84.97% |
-326.49% |
-1.99% |
Invested Capital Growth |
|
-19.04% |
-18.20% |
-10.37% |
4.01% |
11.39% |
13.26% |
16.25% |
14.74% |
27.71% |
14.17% |
7.90% |
Revenue Q/Q Growth |
|
70.24% |
121.28% |
-27.91% |
16.39% |
-30.63% |
85.87% |
-12.57% |
-13.42% |
30.71% |
-23.65% |
1.11% |
EBITDA Q/Q Growth |
|
44.64% |
334.90% |
-76.29% |
127.27% |
-119.14% |
1,229.85% |
-34.81% |
-56.64% |
152.10% |
-54.22% |
-116.40% |
EBIT Q/Q Growth |
|
44.52% |
320.80% |
-78.96% |
148.51% |
-122.22% |
1,106.76% |
-36.04% |
-59.50% |
169.43% |
-53.94% |
-126.72% |
NOPAT Q/Q Growth |
|
45.20% |
350.80% |
-77.79% |
137.33% |
-119.40% |
1,241.89% |
-36.18% |
-58.68% |
162.82% |
-50.61% |
-122.12% |
Net Income Q/Q Growth |
|
49.14% |
343.51% |
-77.79% |
137.33% |
-118.54% |
1,294.95% |
-36.18% |
-58.68% |
162.82% |
-50.61% |
-122.22% |
EPS Q/Q Growth |
|
48.63% |
341.44% |
-77.64% |
138.03% |
-118.64% |
1,288.89% |
-36.18% |
-58.58% |
162.63% |
-50.58% |
-122.18% |
Operating Cash Flow Q/Q Growth |
|
19.57% |
-5.26% |
-60.38% |
130.00% |
13.04% |
-11.23% |
-38.82% |
110.20% |
22.91% |
-29.61% |
-51.71% |
Free Cash Flow Firm Q/Q Growth |
|
242.96% |
76.07% |
-55.90% |
-95.23% |
-1,804.80% |
73.72% |
-238.10% |
-26.94% |
-64.01% |
39.41% |
19.15% |
Invested Capital Q/Q Growth |
|
-9.79% |
11.00% |
1.60% |
2.24% |
-3.40% |
12.87% |
4.28% |
0.92% |
7.52% |
0.90% |
-1.45% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-39.61% |
42.05% |
13.83% |
27.01% |
-7.45% |
45.30% |
33.78% |
16.92% |
32.63% |
19.56% |
-3.17% |
EBIT Margin |
|
-41.33% |
41.24% |
12.03% |
25.69% |
-8.23% |
44.58% |
32.61% |
15.26% |
31.45% |
18.97% |
-5.01% |
Profit (Net Income) Margin |
|
-29.80% |
32.79% |
10.10% |
20.60% |
-5.51% |
35.40% |
25.84% |
12.33% |
24.80% |
16.04% |
-3.53% |
Tax Burden Percent |
|
72.10% |
78.71% |
83.96% |
80.18% |
66.89% |
79.40% |
79.22% |
80.83% |
78.85% |
84.55% |
70.31% |
Interest Burden Percent |
|
100.00% |
101.02% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
21.29% |
16.04% |
19.82% |
0.00% |
20.60% |
20.78% |
19.17% |
21.15% |
15.45% |
0.00% |
Return on Invested Capital (ROIC) |
|
-16.89% |
16.77% |
6.18% |
16.43% |
-5.13% |
28.87% |
21.88% |
10.23% |
22.93% |
13.03% |
-2.72% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-18.24% |
16.77% |
6.18% |
16.43% |
-4.60% |
28.87% |
21.88% |
10.23% |
22.93% |
13.03% |
-2.77% |
Return on Net Nonoperating Assets (RNNOA) |
|
-1.54% |
1.27% |
0.48% |
1.33% |
-0.40% |
2.25% |
1.65% |
0.75% |
1.64% |
0.88% |
-0.18% |
Return on Equity (ROE) |
|
-18.42% |
18.04% |
6.67% |
17.76% |
-5.53% |
31.11% |
23.53% |
10.97% |
24.57% |
13.90% |
-2.91% |
Cash Return on Invested Capital (CROIC) |
|
20.23% |
16.21% |
10.51% |
7.69% |
4.57% |
2.65% |
3.83% |
3.11% |
-0.88% |
3.27% |
2.69% |
Operating Return on Assets (OROA) |
|
-9.57% |
8.79% |
2.99% |
7.90% |
-2.70% |
14.21% |
10.82% |
4.89% |
11.21% |
6.18% |
-1.54% |
Return on Assets (ROA) |
|
-6.90% |
6.99% |
2.51% |
6.33% |
-1.81% |
11.28% |
8.58% |
3.95% |
8.84% |
5.23% |
-1.08% |
Return on Common Equity (ROCE) |
|
-18.42% |
18.04% |
6.67% |
17.76% |
-5.53% |
31.11% |
23.53% |
10.97% |
24.57% |
13.90% |
-2.91% |
Return on Equity Simple (ROE_SIMPLE) |
|
-0.32% |
0.00% |
0.04% |
12.29% |
15.75% |
0.00% |
18.75% |
16.83% |
22.24% |
0.00% |
10.55% |
Net Operating Profit after Tax (NOPAT) |
|
-404 |
1,013 |
225 |
534 |
-104 |
1,183 |
755 |
312 |
820 |
405 |
-90 |
NOPAT Margin |
|
-28.93% |
32.79% |
10.10% |
20.60% |
-5.76% |
35.40% |
25.84% |
12.33% |
24.80% |
16.04% |
-3.51% |
Net Nonoperating Expense Percent (NNEP) |
|
1.35% |
0.00% |
0.00% |
0.00% |
-0.52% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.05% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
141.33% |
58.76% |
87.97% |
74.31% |
108.23% |
55.42% |
67.39% |
84.74% |
68.55% |
81.03% |
105.01% |
Earnings before Interest and Taxes (EBIT) |
|
-577 |
1,274 |
268 |
666 |
-148 |
1,490 |
953 |
386 |
1,040 |
479 |
-128 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-553 |
1,299 |
308 |
700 |
-134 |
1,514 |
987 |
428 |
1,079 |
494 |
-81 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.46 |
1.44 |
1.59 |
1.35 |
1.47 |
1.31 |
1.54 |
1.45 |
1.54 |
1.61 |
1.69 |
Price to Tangible Book Value (P/TBV) |
|
1.46 |
1.44 |
1.59 |
1.35 |
1.47 |
1.31 |
1.54 |
1.45 |
1.54 |
1.61 |
1.69 |
Price to Revenue (P/Rev) |
|
2.05 |
2.34 |
2.27 |
1.60 |
1.61 |
1.59 |
1.83 |
1.75 |
1.76 |
1.99 |
2.12 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
4,281.68 |
10.97 |
9.33 |
8.59 |
8.21 |
8.60 |
6.93 |
9.80 |
15.98 |
Dividend Yield |
|
3.12% |
2.85% |
2.59% |
3.04% |
2.95% |
2.97% |
2.46% |
2.64% |
2.34% |
2.25% |
2.23% |
Earnings Yield |
|
0.00% |
0.00% |
0.02% |
9.12% |
10.71% |
11.65% |
12.18% |
11.63% |
14.44% |
10.20% |
6.26% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.32 |
1.30 |
1.47 |
1.26 |
1.36 |
1.22 |
1.46 |
1.36 |
1.39 |
1.51 |
1.58 |
Enterprise Value to Revenue (EV/Rev) |
|
2.02 |
2.28 |
2.27 |
1.61 |
1.61 |
1.59 |
1.85 |
1.76 |
1.68 |
1.98 |
2.11 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
467.88 |
0.00 |
310.30 |
8.55 |
7.17 |
6.61 |
6.44 |
6.65 |
5.09 |
7.48 |
11.97 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
9.19 |
7.57 |
6.94 |
6.67 |
6.93 |
5.27 |
7.82 |
12.94 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
11.06 |
9.32 |
8.57 |
8.32 |
8.64 |
6.64 |
9.75 |
15.89 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
7.20 |
7.25 |
8.11 |
7.07 |
7.40 |
7.70 |
9.16 |
8.01 |
7.89 |
8.44 |
8.82 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
5.82 |
7.21 |
13.19 |
16.72 |
31.29 |
48.74 |
40.95 |
46.83 |
0.00 |
49.24 |
60.82 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.09 |
0.08 |
0.08 |
0.08 |
0.08 |
0.07 |
0.07 |
0.07 |
0.06 |
0.06 |
0.06 |
Long-Term Debt to Equity |
|
0.09 |
0.08 |
0.08 |
0.08 |
0.08 |
0.07 |
0.07 |
0.07 |
0.06 |
0.06 |
0.06 |
Financial Leverage |
|
0.08 |
0.08 |
0.08 |
0.08 |
0.09 |
0.08 |
0.08 |
0.07 |
0.07 |
0.07 |
0.07 |
Leverage Ratio |
|
2.73 |
2.58 |
2.66 |
2.81 |
2.95 |
2.76 |
2.74 |
2.78 |
2.78 |
2.66 |
2.69 |
Compound Leverage Factor |
|
2.73 |
2.61 |
2.66 |
2.81 |
2.95 |
2.76 |
2.74 |
2.78 |
2.78 |
2.66 |
2.69 |
Debt to Total Capital |
|
8.60% |
7.78% |
7.69% |
7.29% |
7.56% |
6.74% |
6.45% |
6.40% |
5.95% |
5.91% |
6.02% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
8.60% |
7.78% |
7.69% |
7.29% |
7.56% |
6.74% |
6.45% |
6.40% |
5.95% |
5.91% |
6.02% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
91.40% |
92.22% |
92.31% |
92.71% |
92.44% |
93.26% |
93.55% |
93.60% |
94.05% |
94.09% |
93.98% |
Debt to EBITDA |
|
30.59 |
-1.57 |
16.27 |
0.49 |
0.40 |
0.37 |
0.28 |
0.31 |
0.22 |
0.29 |
0.46 |
Net Debt to EBITDA |
|
-6.76 |
0.66 |
-1.09 |
0.07 |
-0.01 |
-0.01 |
0.08 |
0.04 |
-0.22 |
-0.04 |
-0.07 |
Long-Term Debt to EBITDA |
|
30.59 |
-1.57 |
16.27 |
0.49 |
0.40 |
0.37 |
0.28 |
0.31 |
0.22 |
0.29 |
0.46 |
Debt to NOPAT |
|
-9.39 |
-1.83 |
-17.05 |
0.64 |
0.52 |
0.47 |
0.37 |
0.41 |
0.28 |
0.38 |
0.61 |
Net Debt to NOPAT |
|
2.07 |
0.77 |
1.14 |
0.09 |
-0.02 |
-0.02 |
0.11 |
0.05 |
-0.29 |
-0.05 |
-0.09 |
Long-Term Debt to NOPAT |
|
-9.39 |
-1.83 |
-17.05 |
0.64 |
0.52 |
0.47 |
0.37 |
0.41 |
0.28 |
0.38 |
0.61 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
2,023 |
3,562 |
1,571 |
75 |
-1,279 |
-336 |
-1,136 |
-1,442 |
-2,365 |
-1,433 |
-1,159 |
Operating Cash Flow to CapEx |
|
16,650.00% |
21,033.33% |
6,250.00% |
14,375.00% |
32,500.00% |
7,212.50% |
5,042.86% |
14,840.00% |
15,200.00% |
16,050.00% |
10,333.33% |
Free Cash Flow to Firm to Interest Expense |
|
144.51 |
274.00 |
112.21 |
5.77 |
-98.35 |
-24.00 |
-87.38 |
-103.00 |
-181.92 |
-110.23 |
-89.12 |
Operating Cash Flow to Interest Expense |
|
47.57 |
48.54 |
17.86 |
44.23 |
50.00 |
41.21 |
27.15 |
53.00 |
70.15 |
49.38 |
23.85 |
Operating Cash Flow Less CapEx to Interest Expense |
|
47.29 |
48.31 |
17.57 |
43.92 |
49.85 |
40.64 |
26.62 |
52.64 |
69.69 |
49.08 |
23.62 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.23 |
0.21 |
0.25 |
0.31 |
0.33 |
0.32 |
0.33 |
0.32 |
0.36 |
0.33 |
0.31 |
Fixed Asset Turnover |
|
32.59 |
31.99 |
37.47 |
46.64 |
48.17 |
48.58 |
51.97 |
51.54 |
58.46 |
53.48 |
51.12 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
10,318 |
11,453 |
11,636 |
11,897 |
11,493 |
12,972 |
13,527 |
13,651 |
14,678 |
14,810 |
14,596 |
Invested Capital Turnover |
|
0.58 |
0.51 |
0.61 |
0.80 |
0.89 |
0.82 |
0.85 |
0.83 |
0.92 |
0.81 |
0.78 |
Increase / (Decrease) in Invested Capital |
|
-2,427 |
-2,549 |
-1,346 |
459 |
1,175 |
1,519 |
1,891 |
1,754 |
3,185 |
1,838 |
1,069 |
Enterprise Value (EV) |
|
13,569 |
14,870 |
17,067 |
14,993 |
15,584 |
15,792 |
19,737 |
18,593 |
20,389 |
22,354 |
22,990 |
Market Capitalization |
|
13,765 |
15,243 |
17,127 |
14,874 |
15,614 |
15,825 |
19,483 |
18,490 |
21,267 |
22,462 |
23,122 |
Book Value per Share |
|
$59.24 |
$67.20 |
$68.31 |
$70.16 |
$67.73 |
$77.10 |
$80.83 |
$81.61 |
$88.35 |
$89.15 |
$87.64 |
Tangible Book Value per Share |
|
$59.24 |
$67.20 |
$68.31 |
$70.16 |
$67.73 |
$77.10 |
$80.83 |
$81.61 |
$88.35 |
$89.15 |
$87.64 |
Total Capital |
|
10,318 |
11,453 |
11,636 |
11,897 |
11,493 |
12,972 |
13,527 |
13,651 |
14,678 |
14,810 |
14,596 |
Total Debt |
|
887 |
891 |
895 |
867 |
869 |
874 |
873 |
874 |
874 |
875 |
878 |
Total Long-Term Debt |
|
887 |
891 |
895 |
867 |
869 |
874 |
873 |
874 |
874 |
875 |
878 |
Net Debt |
|
-196 |
-373 |
-60 |
119 |
-30 |
-33 |
254 |
103 |
-878 |
-108 |
-132 |
Capital Expenditures (CapEx) |
|
4.00 |
3.00 |
4.00 |
4.00 |
2.00 |
8.00 |
7.00 |
5.00 |
6.00 |
4.00 |
3.00 |
Net Nonoperating Expense (NNE) |
|
12 |
0.00 |
0.00 |
0.00 |
-4.60 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.40 |
Net Nonoperating Obligations (NNO) |
|
887 |
891 |
895 |
867 |
869 |
874 |
873 |
874 |
874 |
875 |
878 |
Total Depreciation and Amortization (D&A) |
|
24 |
25 |
40 |
34 |
14 |
24 |
34 |
42 |
39 |
15 |
47 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($2.64) |
$6.35 |
$1.43 |
$3.40 |
($0.63) |
$7.54 |
$4.82 |
$1.99 |
$5.25 |
$2.59 |
($0.57) |
Adjusted Weighted Average Basic Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Adjusted Diluted Earnings per Share |
|
($2.64) |
$6.35 |
$1.42 |
$3.38 |
($0.63) |
$7.49 |
$4.78 |
$1.98 |
$5.20 |
$2.57 |
($0.57) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
157.18M |
157.24M |
157.21M |
156.86M |
156.91M |
156.67M |
156.56M |
156.24M |
156.32M |
156.52M |
156.30M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-18 |
1,452 |
692 |
998 |
323 |
1,691 |
1,243 |
841 |
1,359 |
999 |
402 |
Normalized NOPAT Margin |
|
-1.30% |
47.01% |
31.06% |
38.51% |
17.95% |
50.60% |
42.54% |
33.26% |
41.08% |
39.58% |
15.74% |
Pre Tax Income Margin |
|
-41.33% |
41.66% |
12.03% |
25.69% |
-8.23% |
44.58% |
32.61% |
15.26% |
31.45% |
18.97% |
-5.01% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-41.21 |
98.00 |
19.14 |
51.23 |
-11.38 |
106.43 |
73.31 |
27.57 |
80.00 |
36.85 |
-9.85 |
NOPAT to Interest Expense |
|
-28.85 |
77.92 |
16.07 |
41.08 |
-7.97 |
84.50 |
58.08 |
22.29 |
63.08 |
31.15 |
-6.89 |
EBIT Less CapEx to Interest Expense |
|
-41.50 |
97.77 |
18.86 |
50.92 |
-11.54 |
105.86 |
72.77 |
27.21 |
79.54 |
36.54 |
-10.08 |
NOPAT Less CapEx to Interest Expense |
|
-29.14 |
77.69 |
15.79 |
40.77 |
-8.12 |
83.93 |
57.54 |
21.93 |
62.62 |
30.85 |
-7.12 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
-1,386.67% |
-86.86% |
10,750.00% |
32.30% |
26.60% |
24.63% |
19.55% |
21.94% |
15.67% |
21.38% |
34.49% |
Augmented Payout Ratio |
|
-3,063.33% |
-171.05% |
20,500.00% |
52.95% |
31.26% |
28.27% |
24.48% |
27.62% |
19.61% |
26.88% |
40.91% |
Key Financial Trends
Cincinnati Financial Corporation (NASDAQ:CINF) shows a mixed but generally strong financial performance over the last four years, with some volatility in quarterly results. Below are key observations based on the income statements, cash flow statements, and balance sheets spanning from Q3 2022 through Q1 2025.
- Revenue Stability and Growth: Total revenue increased from about $3.1 billion in Q4 2022 to $2.55 billion in Q1 2025 on a quarterly basis, with some fluctuations driven largely by investment gains and premiums earned.
- Premiums Earned Growth: Premiums earned have steadily increased, from roughly $1.88 billion in Q3 2022 to a robust $2.34 billion in Q1 2025, supporting overall revenue growth.
- Investment Gains Impact: Net realized and unrealized capital gains on investments notably contributed to revenue volatility; Q3 2024 saw a very strong $1.02 billion gain, while Q1 2025 had $213 million. These gains add substantial non-interest income.
- Strong Equity Position: Total common equity grew from approximately $9.43 billion in Q3 2022 to $13.7 billion by Q1 2025, indicating solid capitalization and financial strength.
- Operating Cash Flow Increases: Net cash from operating activities increased to about $310 million in Q1 2025 from $250 million in Q1 2023, indicating improving operational cash generation.
- Consistent Debt Levels: Long-term debt remained relatively stable around $870 million to $895 million over four years, suggesting controlled use of leverage.
- Consistent Dividend Payments: Cash dividends per share increased modestly from $0.75 in Q3 2023 to $0.87 in Q1 2025, reflecting steady shareholder returns.
- Net Income Volatility: There is significant volatility in net income, ranging from a high of $1.18 billion in Q4 2023 to a loss of $90 million in Q1 2025, primarily due to the impact of restructuring charges and fluctuating investment returns.
- Large Restructuring Charges: Restructuring charges increased drastically to $702 million in Q1 2025, from around $558 million in Q4 2022, adversely impacting net income and pre-tax results.
- Rising Insurance Claims Expenses: Property and liability insurance claims have risen from about $1.24 billion in Q4 2022 to $1.97 billion in Q1 2025, signaling increased claims activity that pressures profitability.
Summary: Cincinnati Financial has maintained a solid equity base and stable premiums, with strong investment income contributing to revenue growth despite some quarter-to-quarter volatility. However, net income has faced downward pressure recently due to higher restructuring charges and claims expenses, culminating in a negative reported net income in Q1 2025. Investors should watch closely for management’s ability to control restructuring costs and claims while sustaining premium growth and investment returns.
08/09/25 09:49 AMAI Generated. May Contain Errors.