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Cincinnati Financial (CINF) Financials

Cincinnati Financial logo
$165.69 +0.48 (+0.29%)
Closing price 10/7/2025 04:00 PM Eastern
Extended Trading
$165.00 -0.69 (-0.42%)
As of 09:00 AM Eastern
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Annual Income Statements for Cincinnati Financial

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.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 525 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Consolidated Net Income / (Loss)		 525 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Net Income / (Loss) Continuing Operations		 525 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Total Pre-Tax Income 		721 881 812 730 251 2,472 1,499 3,698 -694 2,276 2,858
Total Revenue		 4,892 5,089 5,396 5,679 5,354 7,871 7,482 9,573 6,510 9,959 11,284
Net Interest Income / (Expense)		 -53 -53 -53 -53 -53 -53 -54 -53 -53 -54 -53
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 53 53 53 53 53 53 54 53 53 54 53
Long-Term Debt Interest Expense		 53 53 53 53 53 53 54 53 53 54 53
Total Non-Interest Income		 4,945 5,142 5,449 5,732 5,407 7,924 7,536 9,626 6,563 10,013 11,337
Other Service Charges		 20 20 20 21 20 24 21 25 24 34 32
Net Realized & Unrealized Capital Gains on Investments		 682 642 719 757 217 2,296 1,535 3,123 -686 2,021 2,416
Premiums Earned		 4,243 4,480 4,710 4,954 5,170 5,604 5,980 6,478 7,225 7,958 8,889
Total Non-Interest Expense		 4,171 4,208 4,584 4,949 5,103 5,399 5,983 5,875 7,204 7,683 8,426
Property & Liability Insurance Claims		 2,856 2,808 3,107 3,390 3,490 3,638 4,134 3,909 5,019 5,274 5,737
Other Operating Expenses		 14 13 12 13 16 23 20 20 23 25 32
Restructuring Charge		 1,301 - 1,465 1,546 1,597 1,738 1,829 1,946 2,162 2,384 2,657
Income Tax Expense		 196 247 221 -315 -36 475 283 730 -207 433 566
Basic Earnings per Share		 $3.21 $3.87 $3.59 $6.36 $1.76 $12.24 $7.55 $18.43 ($3.06) $11.74 $14.65
Weighted Average Basic Shares Outstanding		 163.50M 164M 164.50M 164.20M 163.20M 162.69M 161.20M 160.43M 157.24M 156.67M 156.52M
Diluted Earnings per Share		 $3.18 $3.83 $3.55 $6.29 $1.75 $12.10 $7.49 $18.24 ($3.06) $11.66 $14.53
Weighted Average Diluted Shares Outstanding		 163.50M 164M 164.50M 164.20M 163.20M 162.69M 161.20M 160.43M 157.24M 156.67M 156.52M
Weighted Average Basic & Diluted Shares Outstanding		 163.50M 164M 164.50M 164.20M 163.20M 162.69M 161.20M 160.43M 157.24M 156.67M 156.52M
Cash Dividends to Common per Share		 $1.76 $2.30 $1.92 $2.50 $2.12 $2.24 $2.40 $2.52 $2.76 $3.00 $3.24

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,013 225 534 -99 1,183 755 312 820 405 -90 685
Consolidated Net Income / (Loss)		 1,013 225 534 -99 1,183 755 312 820 405 -90 685
Net Income / (Loss) Continuing Operations		 1,013 225 534 -99 1,183 755 312 820 405 -90 685
Total Pre-Tax Income 		1,287 268 666 -148 1,490 953 386 1,040 479 -128 855
Total Revenue		 3,089 2,227 2,592 1,798 3,342 2,922 2,530 3,307 2,525 2,553 3,234
Net Interest Income / (Expense)		 -13 -14 -13 -13 -14 -13 -14 -13 -13 -13 -14
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 13 14 13 13 14 13 14 13 13 13 14
Long-Term Debt Interest Expense		 13 14 13 13 14 13 14 13 13 13 14
Total Non-Interest Income		 3,115 2,241 2,605 1,811 3,356 2,935 2,544 3,320 2,538 2,566 3,248
Other Service Charges		 5.00 7.00 8.00 9.00 10 7.00 9.00 7.00 9.00 9.00 10
Net Realized & Unrealized Capital Gains on Investments		 1,235 316 654 -231 1,282 857 379 1,016 164 213 758
Premiums Earned		 1,875 1,918 1,943 2,033 2,064 2,071 2,156 2,297 2,365 2,344 2,480
Total Non-Interest Expense		 1,815 1,959 1,926 1,946 1,852 1,969 2,144 2,267 2,046 2,681 2,379
Property & Liability Insurance Claims		 1,247 1,398 1,340 1,332 1,204 1,349 1,480 1,578 1,330 1,968 1,660
Other Operating Expenses		 10 5.00 7.00 5.00 8.00 4.00 9.00 6.00 13 11 10
Restructuring Charge		 558 556 579 609 640 616 655 683 703 702 709
Income Tax Expense		 274 43 132 -49 307 198 74 220 74 -38 170
Basic Earnings per Share		 $6.35 $1.43 $3.40 ($0.63) $7.54 $4.82 $1.99 $5.25 $2.59 ($0.57) $4.38
Weighted Average Basic Shares Outstanding		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
Diluted Earnings per Share		 $6.35 $1.42 $3.38 ($0.63) $7.49 $4.78 $1.98 $5.20 $2.57 ($0.57) $4.34
Weighted Average Diluted Shares Outstanding		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
Weighted Average Basic & Diluted Shares Outstanding		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
Cash Dividends to Common per Share		 - - - $0.75 - $0.81 $0.81 $0.81 - $0.87 $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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 158 -47 233 -120 127 -17 133 239 125 -357 76
Net Cash From Operating Activities		 873 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		 873 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		 525 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Consolidated Net Income / (Loss)		 525 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Depreciation Expense		 51 52 48 55 63 72 109 118 127 112 130
Non-Cash Adjustments to Reconcile Net Income		 -30 10 -15 -518 597 -1,223 -672 -1,825 1,181 -840 -1,206
Changes in Operating Assets and Liabilities, net		 327 379 491 470 234 362 838 720 1,231 937 1,433
Net Cash From Investing Activities		 -311 -624 -456 -558 -451 -679 -560 -1,057 -933 -1,608 -1,696
Net Cash From Continuing Investing Activities		 -311 -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		 -1,713 -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		 1,411 1,614 2,021 1,741 1,591 1,575 1,591 1,597 1,543 1,342 4,801
Other Investing Activities, net		 -9.00 - - - - - - -2.00 7.00 -15 -15
Net Cash From Financing Activities		 -404 -498 -426 -614 -603 -546 -798 -685 -994 -801 -877
Net Cash From Continuing Financing Activities		 -404 -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		 -21 -53 -39 -92 -125 -67 -261 -144 -410 -67 -126
Payment of Dividends		 -278 -366 -306 -400 -336 -355 -375 -395 -423 -454 -490
Other Financing Activities, Net		 -50 -65 -66 -126 -90 -131 -177 -146 -157 -255 -261
Cash Interest Paid		 53 52 52 52 53 53 53 52 53 54 53
Cash Income Taxes Paid		 154 245 213 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 181 -309 -207 151 8.00 -288 152 981 -769 27 -15
Net Cash From Operating Activities		 631 250 575 650 577 353 742 912 642 310 741
Net Cash From Continuing Operating Activities		 631 250 575 650 577 353 742 912 642 310 741
Net Income / (Loss) Continuing Operations		 1,013 225 534 -99 1,183 755 312 820 405 -90 685
Consolidated Net Income / (Loss)		 1,013 225 534 -99 1,183 755 312 820 405 -90 685
Depreciation Expense		 25 40 34 14 24 34 42 39 15 47 46
Non-Cash Adjustments to Reconcile Net Income		 -795 -56 -341 363 -806 -460 -112 -694 60 89 -366
Changes in Operating Assets and Liabilities, net		 388 41 348 372 176 24 500 747 162 264 376
Net Cash From Investing Activities		 -287 -362 -558 -318 -370 -355 -385 251 -1,207 -58 -556
Net Cash From Continuing Investing Activities		 -287 -362 -558 -318 -370 -355 -385 251 -1,207 -58 -556
Purchase of Property, Leasehold Improvements and Equipment		 -3.00 -4.00 -4.00 -2.00 -8.00 -7.00 -5.00 -6.00 -4.00 -3.00 -4.00
Purchase of Investment Securities		 -578 -628 -863 -621 -805 -1,080 -799 -2,268 -2,313 -739 -1,247
Sale and/or Maturity of Investments		 299 273 312 309 448 730 425 2,531 1,115 687 695
Net Cash From Financing Activities		 -163 -197 -224 -181 -199 -286 -205 -182 -204 -225 -200
Net Cash From Continuing Financing Activities		 -163 -197 -224 -181 -199 -286 -205 -182 -204 -225 -200
Payment of Dividends		 -107 -106 -117 -115 -116 -116 -125 -124 -125 -125 -133
Other Financing Activities, Net		 -51 -66 -41 -65 -83 -95 -34 -58 -74 -58 -67
Cash Income Taxes Paid		 21 76 3.00 15 42 106 68 47 174 2.00 95

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 18,748 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		 591 544 777 657 784 767 900 1,139 1,264 907 983
Trading Account Securities		 14,318 14,356 15,419 16,948 5,920 19,450 21,194 24,337 21,973 24,780 16,182
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		 123 129 134 134 132 133 136 144 160 192 222
Premises and Equipment, Net		 194 185 183 185 195 207 213 205 202 208 214
Unearned Premiums Asset		 1,434 1,485 1,595 1,631 1,688 1,831 1,944 2,131 2,373 2,647 3,039
Deferred Acquisition Cost		 578 616 637 670 738 774 805 905 1,013 1,093 1,242
Separate Account Business Assets		 752 748 766 806 803 882 952 959 892 925 952
Other Assets		 683 763 824 751 11,604 1,287 1,303 1,469 1,763 2,017 13,667
Total Liabilities & Shareholders' Equity		 18,748 18,888 20,386 21,843 21,935 25,408 27,542 31,387 29,732 32,769 36,501
Total Liabilities		 12,175 12,461 13,326 13,600 14,102 15,544 16,753 18,282 19,170 20,671 22,566
Long-Term Debt		 871 856 846 851 866 885 899 897 891 874 875
Claims and Claim Expense		 4,485 4,718 5,085 5,273 5,707 6,147 6,746 7,305 8,400 9,050 10,003
Future Policy Benefits		 2,497 2,583 2,671 2,729 2,779 2,835 2,915 3,014 3,015 3,068 2,960
Unearned Premiums Liability		 2,082 2,201 2,307 2,404 2,516 2,788 2,960 3,271 3,689 4,119 4,813
Separate Account Business Liabilities		 752 748 766 806 803 882 952 959 892 925 952
Other Long-Term Liabilities		 1,488 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 0.00
Total Equity & Noncontrolling Interests		 6,573 6,427 7,060 8,243 7,833 9,864 10,789 13,105 10,562 12,098 13,935
Total Preferred & Common Equity		 6,573 6,427 7,060 8,243 7,833 9,864 10,789 13,105 10,562 12,098 13,935
Total Common Equity		 6,573 6,427 7,060 8,243 7,833 9,864 10,789 13,105 10,562 12,098 13,935
Common Stock		 1,611 1,629 1,649 1,662 1,678 1,703 1,725 1,753 1,789 1,834 1,899
Retained Earnings		 4,505 4,762 5,037 5,180 7,625 9,257 10,085 12,625 11,711 13,084 14,869
Treasury Stock		 -1,287 -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)		 1,744 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 29,732 30,474 31,352 30,915 32,769 33,727 34,802 37,009 36,501 37,276 38,842
Cash and Due from Banks		 1,264 955 748 899 907 619 771 1,752 983 1,010 995
Trading Account Securities		 21,973 22,645 23,372 22,874 24,780 25,641 26,043 27,441 27,367 27,641 28,726
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		 160 160 163 182 192 202 201 199 222 224 223
Premises and Equipment, Net		 202 199 198 199 208 211 213 215 214 216 214
Unearned Premiums Asset		 2,373 2,566 2,844 2,723 2,647 2,882 3,212 3,106 3,039 3,256 3,550
Deferred Acquisition Cost		 1,013 1,048 1,109 1,101 1,093 1,143 1,229 1,241 1,242 1,297 1,367
Separate Account Business Assets		 892 899 911 918 925 927 948 943 952 959 991
Other Assets		 1,763 1,908 1,909 1,916 2,017 1,996 2,074 1,996 2,482 2,673 2,776
Total Liabilities & Shareholders' Equity		 29,732 30,474 31,352 30,915 32,769 33,727 34,802 37,009 36,501 37,276 38,842
Total Liabilities		 19,170 19,733 20,322 20,291 20,671 21,073 22,025 23,205 22,566 23,558 24,541
Long-Term Debt		 891 895 867 869 874 873 874 874 875 878 884
Claims and Claim Expense		 8,400 8,693 8,873 9,077 9,050 9,246 9,555 9,928 10,003 10,780 11,072
Future Policy Benefits		 3,015 3,059 3,038 2,920 3,068 3,013 2,966 3,069 2,960 2,968 2,959
Unearned Premiums Liability		 3,689 3,890 4,222 4,195 4,119 4,398 4,826 4,874 4,813 5,068 5,444
Separate Account Business Liabilities		 892 899 911 918 925 927 948 943 952 959 991
Other Long-Term Liabilities		 2,283 2,297 2,411 2,312 2,635 2,616 2,856 3,517 2,963 2,905 3,191
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		 10,562 10,741 11,030 10,624 12,098 12,654 12,777 13,804 13,935 13,718 14,301
Total Preferred & Common Equity		 10,562 10,741 11,030 10,624 12,098 12,654 12,777 13,804 13,935 13,718 14,301
Total Common Equity		 10,562 10,741 11,030 10,624 12,098 12,654 12,777 13,804 13,935 13,718 14,301
Common Stock		 1,789 1,795 1,807 1,819 1,834 1,843 1,863 1,879 1,899 1,908 1,925
Retained Earnings		 11,711 11,818 12,235 12,018 13,084 13,712 13,897 14,591 14,869 14,644 15,193
Treasury Stock		 -2,324 -2,345 -2,386 -2,386 -2,385 -2,459 -2,513 -2,516 -2,524 -2,563 -2,568
Accumulated Other Comprehensive Income / (Loss)		 -614 -527 -626 -827 -435 -442 -470 -150 -309 -271 -249

Annual Metrics And Ratios for Cincinnati Financial

This table displays calculated financial ratios and metrics derived from Cincinnati Financial's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.27% 4.03% 6.03% 5.24% -5.72% 47.01% -4.94% 27.95% -32.00% 52.98% 13.30%
EBITDA Growth		 1.05% 20.85% -7.82% -8.72% -60.00% 710.19% -36.79% 137.31% -114.86% 521.16% 25.13%
EBIT Growth		 0.98% 22.19% -7.83% -10.10% -65.62% 884.86% -39.36% 146.70% -118.77% 427.95% 25.57%
NOPAT Growth		 1.55% 20.76% -6.78% 76.82% -72.54% 595.82% -39.11% 144.08% -116.37% 479.37% 24.36%
Net Income Growth		 1.55% 20.76% -6.78% 76.82% -72.54% 595.82% -39.11% 144.08% -116.41% 478.44% 24.36%
EPS Growth		 1.92% 20.44% -7.31% 77.18% -72.18% 591.43% -38.10% 143.52% -116.78% 481.05% 24.61%
Operating Cash Flow Growth		 9.67% 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		 183.33% 783.33% -104.03% -346.88% 576.92% -107.77% 622.64% 136.10% 215.47% -84.30% 40.12%
Invested Capital Growth		 6.21% -2.16% 8.55% 15.03% -4.34% 23.57% 8.74% 19.80% -18.20% 13.26% 14.17%
Revenue Q/Q Growth		 1.90% 0.02% 0.90% 1.77% -11.56% 22.43% 7.79% 6.98% -3.27% 2.61% -6.75%
EBITDA Q/Q Growth		 8.73% -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		 10.58% -2.22% -9.78% 10.44% -75.61% 122.70% 55.50% 17.77% -468.85% 10.49% -26.13%
NOPAT Q/Q Growth		 9.38% -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		 9.38% -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		 9.66% -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		 -2.02% 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		 509.09% 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		 2.62% 1.00% -0.78% 8.70% -5.38% 4.81% 9.11% 9.86% 11.00% 12.87% 0.90%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 15.78% 18.33% 15.94% 13.82% 5.86% 32.32% 21.49% 39.86% -8.71% 23.98% 26.48%
EBIT Margin		 14.74% 17.31% 15.05% 12.85% 4.69% 31.41% 20.03% 38.63% -10.66% 22.85% 25.33%
Profit (Net Income) Margin		 10.73% 12.46% 10.95% 18.40% 5.36% 25.37% 16.25% 31.00% -7.48% 18.51% 20.31%
Tax Burden Percent		 72.82% 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% 100.00%
Effective Tax Rate		 27.18% 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)		 7.26% 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)		 7.26% 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)		 1.04% 1.14% 0.98% 1.36% 0.34% 2.03% 0.94% 1.74% -0.30% 1.18% 1.11%
Return on Equity (ROE)		 8.31% 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)		 1.25% 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)		 3.96% 4.68% 4.14% 3.46% 1.15% 10.44% 5.66% 12.55% -2.27% 7.28% 8.25%
Return on Assets (ROA)		 2.88% 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)		 8.31% 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)		 7.99% 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)		 525 634 591 1,045 287 1,997 1,216 2,968 -486 1,843 2,292
NOPAT Margin		 10.73% 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% 0.00% 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% 0.00%
Operating Expenses to Revenue		 85.26% 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)		 721 881 812 730 251 2,472 1,499 3,698 -694 2,276 2,858
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 772 933 860 785 314 2,544 1,608 3,816 -567 2,388 2,988
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.98 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)		 0.98 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)		 1.32 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)		 12.32 12.28 17.42 10.04 38.54 7.72 10.72 5.86 0.00 8.59 9.80
Dividend Yield		 4.45% 5.81% 3.07% 3.91% 3.12% 2.37% 2.96% 2.33% 2.85% 2.97% 2.25%
Earnings Yield		 8.12% 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)		 0.91 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)		 1.38 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)		 8.74 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)		 9.36 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)		 12.85 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)		 7.73 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)		 74.98 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 0.13 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 0.13 0.12 0.10 0.11 0.09 0.08 0.07 0.08 0.07 0.06
Financial Leverage		 0.14 0.13 0.13 0.11 0.11 0.10 0.09 0.08 0.08 0.08 0.07
Leverage Ratio		 2.88 2.90 2.91 2.76 2.72 2.68 2.56 2.47 2.58 2.76 2.66
Compound Leverage Factor		 2.88 2.90 2.91 2.76 2.72 2.68 2.56 2.47 2.58 2.76 2.66
Debt to Total Capital		 11.70% 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% 0.00%
Long-Term Debt to Total Capital		 11.70% 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% 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		 88.30% 88.25% 89.30% 90.64% 90.04% 91.77% 92.31% 93.59% 92.22% 93.26% 94.09%
Debt to EBITDA		 1.13 0.92 0.98 1.08 2.76 0.35 0.56 0.24 -1.57 0.37 0.29
Net Debt to EBITDA		 0.36 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		 1.13 0.92 0.98 1.08 2.76 0.35 0.56 0.24 -1.57 0.37 0.29
Debt to NOPAT		 1.66 1.35 1.43 0.81 3.02 0.44 0.74 0.30 -1.83 0.47 0.38
Net Debt to NOPAT		 0.53 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		 1.66 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% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 90 795 -32 -143 682 -53 277 654 2,063 324 454
Operating Cash Flow to CapEx		 0.00% 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		 1.70 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		 16.47 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		 16.47 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 0.27 0.24 0.33 0.28 0.32 0.21 0.32 0.33
Fixed Asset Turnover		 24.22 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		 7,444 7,283 7,906 9,094 8,699 10,749 11,688 14,002 11,453 12,972 14,810
Invested Capital Turnover		 0.68 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		 435 -161 623 1,188 -395 2,050 939 2,314 -2,549 1,519 1,838
Enterprise Value (EV)		 6,749 8,098 10,367 10,689 11,143 15,539 13,038 17,162 14,870 15,792 22,354
Market Capitalization		 6,469 7,786 10,298 10,495 11,061 15,421 13,039 17,404 15,243 15,825 22,462
Book Value per Share		 $40.20 $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		 $40.20 $39.22 $42.85 $50.24 $48.13 $60.38 $67.06 $81.33 $67.20 $77.10 $89.15
Total Capital		 7,444 7,283 7,906 9,094 8,699 10,749 11,688 14,002 11,453 12,972 14,810
Total Debt		 871 856 846 851 866 885 899 897 891 874 875
Total Long-Term Debt		 871 856 846 851 866 885 899 897 891 874 875
Net Debt		 280 312 69 194 82 118 -1.00 -242 -373 -33 -108
Capital Expenditures (CapEx)		 0.00 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 0.00 1.20 0.00 0.00
Net Nonoperating Obligations (NNO)		 871 856 846 851 866 885 899 897 891 874 875
Total Depreciation and Amortization (D&A)		 51 52 48 55 63 72 109 118 127 112 130
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.21 $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		 164.17M 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		 $3.18 $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		 164.17M 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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 164.17M 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)		 1,472 634 1,657 1,593 1,294 3,401 2,700 4,530 1,028 3,773 4,423
Normalized NOPAT Margin		 30.10% 12.46% 30.71% 28.05% 24.16% 43.21% 36.08% 47.32% 15.78% 37.89% 39.20%
Pre Tax Income Margin		 14.74% 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		 13.60 16.62 15.32 13.77 4.74 46.64 27.76 69.77 -13.09 42.15 53.92
NOPAT to Interest Expense		 9.91 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		 13.60 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		 9.91 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		 52.95% 57.73% 51.78% 38.28% 117.07% 17.78% 30.84% 13.31% -86.86% 24.63% 21.38%
Augmented Payout Ratio		 56.95% 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.54% 84.81% 216.10% 28.80% 8.19% 31.21% -2.39% 83.93% -24.45% -12.63% 27.83%
EBITDA Growth		 -32.45% 198.09% 170.07% 75.77% 16.55% 220.45% -38.86% 905.22% -67.37% -108.21% 110.51%
EBIT Growth		 -32.02% 176.35% 164.04% 74.35% 16.95% 255.60% -42.04% 802.70% -67.85% -113.43% 121.50%
NOPAT Growth		 -32.10% 191.58% 172.45% 74.35% 16.78% 235.56% -41.57% 891.51% -65.77% -111.87% 119.55%
Net Income Growth		 -32.10% 184.59% 165.28% 76.20% 16.78% 235.56% -41.57% 928.28% -65.77% -111.92% 119.55%
EPS Growth		 -30.75% 185.54% 166.02% 76.05% 17.95% 236.62% -41.42% 925.40% -65.69% -111.92% 119.19%
Operating Cash Flow Growth		 36.29% 26.26% 3.23% -2.40% -8.56% 41.20% 29.04% 40.31% 11.27% -12.18% -0.13%
Free Cash Flow Firm Growth		 533.33% 232.61% -87.29% -163.20% -109.43% -172.31% -2,022.67% -84.97% -326.49% -1.99% 41.12%
Invested Capital Growth		 -18.20% -10.37% 4.01% 11.39% 13.26% 16.25% 14.74% 27.71% 14.17% 7.90% 11.24%
Revenue Q/Q Growth		 121.28% -27.91% 16.39% -30.63% 85.87% -12.57% -13.42% 30.71% -23.65% 1.11% 26.67%
EBITDA Q/Q Growth		 334.90% -76.29% 127.27% -119.14% 1,229.85% -34.81% -56.64% 152.10% -54.22% -116.40% 1,212.35%
EBIT Q/Q Growth		 320.80% -78.96% 148.51% -122.22% 1,106.76% -36.04% -59.50% 169.43% -53.94% -126.72% 767.97%
NOPAT Q/Q Growth		 350.80% -77.79% 137.33% -119.40% 1,241.89% -36.18% -58.68% 162.82% -50.61% -122.12% 864.51%
Net Income Q/Q Growth		 343.51% -77.79% 137.33% -118.54% 1,294.95% -36.18% -58.68% 162.82% -50.61% -122.22% 861.11%
EPS Q/Q Growth		 341.44% -77.64% 138.03% -118.64% 1,288.89% -36.18% -58.58% 162.63% -50.58% -122.18% 861.40%
Operating Cash Flow Q/Q Growth		 -5.26% -60.38% 130.00% 13.04% -11.23% -38.82% 110.20% 22.91% -29.61% -51.71% 139.03%
Free Cash Flow Firm Q/Q Growth		 76.07% -55.90% -95.23% -1,804.80% 73.72% -238.10% -26.94% -64.01% 39.41% 19.15% 26.72%
Invested Capital Q/Q Growth		 11.00% 1.60% 2.24% -3.40% 12.87% 4.28% 0.92% 7.52% 0.90% -1.45% 4.04%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.05% 13.83% 27.01% -7.45% 45.30% 33.78% 16.92% 32.63% 19.56% -3.17% 27.86%
EBIT Margin		 41.24% 12.03% 25.69% -8.23% 44.58% 32.61% 15.26% 31.45% 18.97% -5.01% 26.44%
Profit (Net Income) Margin		 32.79% 10.10% 20.60% -5.51% 35.40% 25.84% 12.33% 24.80% 16.04% -3.53% 21.18%
Tax Burden Percent		 78.71% 83.96% 80.18% 66.89% 79.40% 79.22% 80.83% 78.85% 84.55% 70.31% 80.12%
Interest Burden Percent		 101.02% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 21.29% 16.04% 19.82% 0.00% 20.60% 20.78% 19.17% 21.15% 15.45% 0.00% 19.88%
Return on Invested Capital (ROIC)		 16.77% 6.18% 16.43% -5.13% 28.87% 21.88% 10.23% 22.93% 13.03% -2.72% 17.07%
ROIC Less NNEP Spread (ROIC-NNEP)		 16.77% 6.18% 16.43% -4.60% 28.87% 21.88% 10.23% 22.93% 13.03% -2.77% 17.07%
Return on Net Nonoperating Assets (RNNOA)		 1.27% 0.48% 1.33% -0.40% 2.25% 1.65% 0.75% 1.64% 0.88% -0.18% 1.11%
Return on Equity (ROE)		 18.04% 6.67% 17.76% -5.53% 31.11% 23.53% 10.97% 24.57% 13.90% -2.91% 18.18%
Cash Return on Invested Capital (CROIC)		 16.21% 10.51% 7.69% 4.57% 2.65% 3.83% 3.11% -0.88% 3.27% 2.69% 1.98%
Operating Return on Assets (OROA)		 8.79% 2.99% 7.90% -2.70% 14.21% 10.82% 4.89% 11.21% 6.18% -1.54% 8.34%
Return on Assets (ROA)		 6.99% 2.51% 6.33% -1.81% 11.28% 8.58% 3.95% 8.84% 5.23% -1.08% 6.68%
Return on Common Equity (ROCE)		 18.04% 6.67% 17.76% -5.53% 31.11% 23.53% 10.97% 24.57% 13.90% -2.91% 18.18%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.04% 12.29% 15.75% 0.00% 18.75% 16.83% 22.24% 0.00% 10.55% 12.73%
Net Operating Profit after Tax (NOPAT)		 1,013 225 534 -104 1,183 755 312 820 405 -90 685
NOPAT Margin		 32.79% 10.10% 20.60% -5.76% 35.40% 25.84% 12.33% 24.80% 16.04% -3.51% 21.18%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -0.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 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% 0.00%
Operating Expenses to Revenue		 58.76% 87.97% 74.31% 108.23% 55.42% 67.39% 84.74% 68.55% 81.03% 105.01% 73.56%
Earnings before Interest and Taxes (EBIT)		 1,274 268 666 -148 1,490 953 386 1,040 479 -128 855
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,299 308 700 -134 1,514 987 428 1,079 494 -81 901
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.44 1.59 1.35 1.47 1.31 1.54 1.45 1.54 1.61 1.69 1.63
Price to Tangible Book Value (P/TBV)		 1.44 1.59 1.35 1.47 1.31 1.54 1.45 1.54 1.61 1.69 1.63
Price to Revenue (P/Rev)		 2.34 2.27 1.60 1.61 1.59 1.83 1.75 1.76 1.99 2.12 2.00
Price to Earnings (P/E)		 0.00 4,281.68 10.97 9.33 8.59 8.21 8.60 6.93 9.80 15.98 12.79
Dividend Yield		 2.85% 2.59% 3.04% 2.95% 2.97% 2.46% 2.64% 2.34% 2.25% 2.23% 2.26%
Earnings Yield		 0.00% 0.02% 9.12% 10.71% 11.65% 12.18% 11.63% 14.44% 10.20% 6.26% 7.82%
Enterprise Value to Invested Capital (EV/IC)		 1.30 1.47 1.26 1.36 1.22 1.46 1.36 1.39 1.51 1.58 1.53
Enterprise Value to Revenue (EV/Rev)		 2.28 2.27 1.61 1.61 1.59 1.85 1.76 1.68 1.98 2.11 1.99
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 310.30 8.55 7.17 6.61 6.44 6.65 5.09 7.48 11.97 9.68
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 9.19 7.57 6.94 6.67 6.93 5.27 7.82 12.94 10.31
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 11.06 9.32 8.57 8.32 8.64 6.64 9.75 15.89 12.73
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.25 8.11 7.07 7.40 7.70 9.16 8.01 7.89 8.44 8.82 8.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.21 13.19 16.72 31.29 48.74 40.95 46.83 0.00 49.24 60.82 81.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.08 0.08 0.08 0.08 0.07 0.07 0.07 0.06 0.06 0.06 0.06
Long-Term Debt to Equity		 0.08 0.08 0.08 0.08 0.07 0.07 0.07 0.06 0.06 0.06 0.06
Financial Leverage		 0.08 0.08 0.08 0.09 0.08 0.08 0.07 0.07 0.07 0.07 0.06
Leverage Ratio		 2.58 2.66 2.81 2.95 2.76 2.74 2.78 2.78 2.66 2.69 2.72
Compound Leverage Factor		 2.61 2.66 2.81 2.95 2.76 2.74 2.78 2.78 2.66 2.69 2.72
Debt to Total Capital		 7.78% 7.69% 7.29% 7.56% 6.74% 6.45% 6.40% 5.95% 5.91% 6.02% 5.82%
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		 7.78% 7.69% 7.29% 7.56% 6.74% 6.45% 6.40% 5.95% 5.91% 6.02% 5.82%
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		 92.22% 92.31% 92.71% 92.44% 93.26% 93.55% 93.60% 94.05% 94.09% 93.98% 94.18%
Debt to EBITDA		 -1.57 16.27 0.49 0.40 0.37 0.28 0.31 0.22 0.29 0.46 0.37
Net Debt to EBITDA		 0.66 -1.09 0.07 -0.01 -0.01 0.08 0.04 -0.22 -0.04 -0.07 -0.05
Long-Term Debt to EBITDA		 -1.57 16.27 0.49 0.40 0.37 0.28 0.31 0.22 0.29 0.46 0.37
Debt to NOPAT		 -1.83 -17.05 0.64 0.52 0.47 0.37 0.41 0.28 0.38 0.61 0.49
Net Debt to NOPAT		 0.77 1.14 0.09 -0.02 -0.02 0.11 0.05 -0.29 -0.05 -0.09 -0.06
Long-Term Debt to NOPAT		 -1.83 -17.05 0.64 0.52 0.47 0.37 0.41 0.28 0.38 0.61 0.49
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)		 3,562 1,571 75 -1,279 -336 -1,136 -1,442 -2,365 -1,433 -1,159 -849
Operating Cash Flow to CapEx		 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% 18,525.00%
Free Cash Flow to Firm to Interest Expense		 274.00 112.21 5.77 -98.35 -24.00 -87.38 -103.00 -181.92 -110.23 -89.12 -60.64
Operating Cash Flow to Interest Expense		 48.54 17.86 44.23 50.00 41.21 27.15 53.00 70.15 49.38 23.85 52.93
Operating Cash Flow Less CapEx to Interest Expense		 48.31 17.57 43.92 49.85 40.64 26.62 52.64 69.69 49.08 23.62 52.64
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.21 0.25 0.31 0.33 0.32 0.33 0.32 0.36 0.33 0.31 0.32
Fixed Asset Turnover		 31.99 37.47 46.64 48.17 48.58 51.97 51.54 58.46 53.48 51.12 54.42
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 11,453 11,636 11,897 11,493 12,972 13,527 13,651 14,678 14,810 14,596 15,185
Invested Capital Turnover		 0.51 0.61 0.80 0.89 0.82 0.85 0.83 0.92 0.81 0.78 0.81
Increase / (Decrease) in Invested Capital		 -2,549 -1,346 459 1,175 1,519 1,891 1,754 3,185 1,838 1,069 1,534
Enterprise Value (EV)		 14,870 17,067 14,993 15,584 15,792 19,737 18,593 20,389 22,354 22,990 23,166
Market Capitalization		 15,243 17,127 14,874 15,614 15,825 19,483 18,490 21,267 22,462 23,122 23,277
Book Value per Share		 $67.20 $68.31 $70.16 $67.73 $77.10 $80.83 $81.61 $88.35 $89.15 $87.64 $91.50
Tangible Book Value per Share		 $67.20 $68.31 $70.16 $67.73 $77.10 $80.83 $81.61 $88.35 $89.15 $87.64 $91.50
Total Capital		 11,453 11,636 11,897 11,493 12,972 13,527 13,651 14,678 14,810 14,596 15,185
Total Debt		 891 895 867 869 874 873 874 874 875 878 884
Total Long-Term Debt		 891 895 867 869 874 873 874 874 875 878 884
Net Debt		 -373 -60 119 -30 -33 254 103 -878 -108 -132 -111
Capital Expenditures (CapEx)		 3.00 4.00 4.00 2.00 8.00 7.00 5.00 6.00 4.00 3.00 4.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 -4.60 0.00 0.00 0.00 0.00 0.00 0.40 0.00
Net Nonoperating Obligations (NNO)		 891 895 867 869 874 873 874 874 875 878 884
Total Depreciation and Amortization (D&A)		 25 40 34 14 24 34 42 39 15 47 46
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $6.35 $1.43 $3.40 ($0.63) $7.54 $4.82 $1.99 $5.25 $2.59 ($0.57) $4.38
Adjusted Weighted Average Basic Shares Outstanding		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
Adjusted Diluted Earnings per Share		 $6.35 $1.42 $3.38 ($0.63) $7.49 $4.78 $1.98 $5.20 $2.57 ($0.57) $4.34
Adjusted Weighted Average Diluted Shares Outstanding		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
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		 157.24M 157.21M 156.86M 156.91M 156.67M 156.56M 156.24M 156.32M 156.52M 156.30M 156.38M
Normalized Net Operating Profit after Tax (NOPAT)		 1,452 692 998 323 1,691 1,243 841 1,359 999 402 1,253
Normalized NOPAT Margin		 47.01% 31.06% 38.51% 17.95% 50.60% 42.54% 33.26% 41.08% 39.58% 15.74% 38.75%
Pre Tax Income Margin		 41.66% 12.03% 25.69% -8.23% 44.58% 32.61% 15.26% 31.45% 18.97% -5.01% 26.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 98.00 19.14 51.23 -11.38 106.43 73.31 27.57 80.00 36.85 -9.85 61.07
NOPAT to Interest Expense		 77.92 16.07 41.08 -7.97 84.50 58.08 22.29 63.08 31.15 -6.89 48.93
EBIT Less CapEx to Interest Expense		 97.77 18.86 50.92 -11.54 105.86 72.77 27.21 79.54 36.54 -10.08 60.79
NOPAT Less CapEx to Interest Expense		 77.69 15.79 40.77 -8.12 83.93 57.54 21.93 62.62 30.85 -7.12 48.64
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -86.86% 10,750.00% 32.30% 26.60% 24.63% 19.55% 21.94% 15.67% 21.38% 34.49% 27.86%
Augmented Payout Ratio		 -171.05% 20,500.00% 52.95% 31.26% 28.27% 24.48% 27.62% 19.61% 26.88% 40.91% 30.44%

Financials Breakdown Chart

Key Financial Trends

Over the last four years, Cincinnati Financial (NASDAQ: CINF) has shown notable trends in its financial performance and position, as reflected in quarterly financial statements from Q3 2022 through Q2 2025.

Key positive aspects:

  • Net income displayed substantial recovery and growth from negative earnings in some quarters of 2022 and 2023 to strong profitability in 2024 and 2025, with Q2 2025 reporting net income of $685 million.
  • Earnings per share (EPS) rebounded from negative values in 2022 and early 2023 to positive figures above $4 per share by Q2 2025 (basic EPS of $4.38 in Q2 2025), reflecting improved profitability and stable share count.
  • Premiums earned increased steadily, reaching $2.48 billion in Q2 2025, up from $1.88 billion in Q3 2022, supporting revenue growth in Cincinnati’s insurance operations.
  • Total assets grew consistently from approximately $28 billion in Q3 2022 to nearly $39 billion by Q2 2025, with increases in trading account securities and unearned premiums assets indicating expanding business and investment portfolio.
  • Cash flow from continuing operating activities improved significantly, reaching $741 million in Q2 2025 versus $666 million in Q3 2022, signifying strong operational cash generation capability.
  • Common equity increased from about $9.4 billion in Q3 2022 to $14.3 billion in Q2 2025, supporting a stronger capital base and shareholder value.
  • Consistent dividend payments per share at $0.81 to $0.87 quarters suggest a stable shareholder return policy.

Neutral aspects:

  • Long-term debt levels remained relatively stable around $870 million to $880 million throughout the period, indicating steady leverage but no material reduction or increase.
  • Net interest expenses were steady around $13-14 million quarterly, with no interest income reported, reflecting consistent financing costs.
  • Restructuring charges remained sizable each quarter (ranging from $550 million to $709 million), suggesting ongoing transformation efforts with uncertain impact on long-term costs.

Challenges and potential concerns:

  • Non-cash adjustments to reconcile net income showed large fluctuations, including significant negative values (e.g., -$806 million in Q4 2023 and -$366 million in Q2 2025), which may reflect volatility in investment valuations or reserves changes impacting earnings quality.
  • Property and liability insurance claims varied widely, peaking at $1.96 billion in Q1 2025 but moderated to $1.66 billion by Q2 2025, which can pressure underwriting profitability.
  • Investment purchase activity outpaced sales in recent quarters, resulting in net negative cash flow from investing activities (e.g., -$556 million in Q2 2025), potentially tying up cash in longer-term assets.
  • Net income volatility with losses recorded in Q1 2025 and some quarters of 2022 highlights cyclical or episodic risks in the business environment or operational setbacks.

In summary, Cincinnati Financial has demonstrated recovering profitability and revenue growth alongside asset and equity expansion over the last four years. The company’s stable debt and consistent dividends offer reassurance to investors. However, ongoing restructuring charges, variable insurance claims, and swings in non-cash adjustments should be monitored for their impact on earnings sustainability. The company’s operational cash flows remain strong, suggesting a solid underlying business despite some volatility in net income and investment activities.

10/08/25 08:36 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Cincinnati Financial's Financials

When does Cincinnati Financial's financial year end?

According to the most recent income statement we have on file, Cincinnati Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cincinnati Financial's net income changed over the last 10 years?

Cincinnati Financial's net income appears to be on an upward trend, with a most recent value of $2.29 billion in 2024, rising from $525 million in 2014. The previous period was $1.84 billion in 2023. Find out what analysts predict for Cincinnati Financial in the coming months.

How has Cincinnati Financial's revenue changed over the last 10 years?

Over the last 10 years, Cincinnati Financial's total revenue changed from $4.89 billion in 2014 to $11.28 billion in 2024, a change of 130.7%.

How much debt does Cincinnati Financial have?

Cincinnati Financial's total liabilities were at $22.57 billion at the end of 2024, a 9.2% increase from 2023, and a 85.3% increase since 2014.

How much cash does Cincinnati Financial have?

In the past 10 years, Cincinnati Financial's cash and equivalents has ranged from $544 million in 2015 to $1.26 billion in 2022, and is currently $983 million as of their latest financial filing in 2024.

How has Cincinnati Financial's book value per share changed over the last 10 years?

Over the last 10 years, Cincinnati Financial's book value per share changed from 40.20 in 2014 to 89.15 in 2024, a change of 121.7%.


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This page (NASDAQ:CINF) was last updated on 10/8/2025 by MarketBeat.com Staff
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