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Cincinnati Financial (CINF) Financials

Cincinnati Financial logo
$153.60 +0.20 (+0.13%)
Closing price 04:00 PM Eastern
Extended Trading
$153.16 -0.44 (-0.29%)
As of 05:04 PM 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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		 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
Net Income / (Loss) Continuing Operations		 634 591 1,045 287 1,997 1,216 2,968 -487 1,843 2,292
Total Pre-Tax Income 		881 812 730 251 2,472 1,499 3,698 -694 2,276 2,858
Total Revenue		 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 -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
Total Interest Expense		 53 53 53 53 53 54 53 53 54 53
Long-Term Debt Interest Expense		 53 53 53 53 53 54 53 53 54 53
Total Non-Interest Income		 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 21 20 24 21 25 24 34 32
Net Realized & Unrealized Capital Gains on Investments		 642 719 757 217 2,296 1,535 3,123 -686 2,021 2,416
Premiums Earned		 4,480 4,710 4,954 5,170 5,604 5,980 6,478 7,225 7,958 8,889
Total Non-Interest Expense		 4,208 4,584 4,949 5,103 5,399 5,983 5,875 7,204 7,683 8,426
Property & Liability Insurance Claims		 2,808 3,107 3,390 3,490 3,638 4,134 3,909 5,019 5,274 5,737
Other Operating Expenses		 13 12 13 16 23 20 20 23 25 32
Restructuring Charge		 - 1,465 1,546 1,597 1,738 1,829 1,946 2,162 2,384 2,657
Income Tax Expense		 247 221 -315 -36 475 283 730 -207 433 566
Basic Earnings per Share		 $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		 164M 164.50M 164.20M 163.20M 162.69M 161.20M 160.43M 157.24M 156.67M 156.52M
Diluted Earnings per Share		 $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		 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		 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		 $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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 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
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
Period end date 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		 -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
Period end date 9/30/2022 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
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
Period end date 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		 18,888 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
Period end date 9/30/2022 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
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
Period end date 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		 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
Period end date 9/30/2022 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
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 (NASDAQ: CINF) has shown notable financial performance trends over the past four years, as evidenced by its detailed quarterly financial statements.

Positive Developments:

  • Earnings Volatility: Despite a sharp loss in Q1 2025 (-$90M), Cincinnati Financial has consistently generated strong net incomes in previous quarters, reaching over $1.18 billion in Q4 2023 and $820 million in Q3 2024, showing resilience in earnings power over time.
  • Premiums Earned Growth: Premiums earned have generally increased from around $1.9 billion in early 2023 to over $2.3 billion in Q1 2025, highlighting business growth in the insurance operations.
  • Net Realized & Unrealized Capital Gains: There was a significant capital gains increase in 2024 and 2025, peaking at $1.016 billion in Q3 2024 and contributing strongly to non-interest income and total revenue.
  • Strong Operating Cash Flow: The company has maintained positive net cash from operating activities, with $310 million in Q1 2025 and considerably higher amounts, such as $912 million in Q3 2024, ensuring liquidity despite net losses in some quarters.
  • Increasing Equity Base: Total common equity has increased steadily from approximately $10.6 billion in Q3 2022 to over $13.7 billion by Q1 2025, strengthening the balance sheet.
  • Stable Dividend Payments: Cincinnati Financial has consistently paid quarterly dividends, with dividends per share rising from $0.75 in Q3 2023 to $0.87 in Q1 2025, supporting shareholder returns.
  • Consistent Capital Investments: The company invests moderately in property, leasehold improvements, and equipment, supporting its operational capacity without large swings in capital expenditure.
  • Trading Account Securities Holding: These investment securities have grown from about $22.7 billion in Q1 2023 to approximately $27.6 billion by Q1 2025, which may signal a focus on generating investment income.

Neutral Factors:

  • Long-Term Debt: The long-term debt has been stable around $865-$878 million range over the last two years, suggesting controlled leverage but a need for ongoing management scrutiny.
  • Restructuring Charges: Substantial restructuring charges have been recorded (e.g., $702 million in Q1 2025), which impact short-term earnings but may result in long-term operational efficiencies.

Potential Concerns:

  • Q1 2025 Loss: The company experienced a net loss of $90 million in Q1 2025 from continuing operations, a sharp reversal from prior profitable quarters.
  • Rising Insurance Claims: Property and liability insurance claims jumped to $1.968 billion in Q1 2025, up from $1.33 billion in Q4 2024, pressuring profitability.
  • Large Restructuring Charges: Recurrent substantial restructuring costs (approximately $600-$700 million range each quarter) have materially dragged down earnings.
  • Decline in Total Revenue in Q1 2025: Total revenue slightly decreased to $2.553 billion compared to $2.525 billion in Q4 2024, due mostly to a downturn in net realized capital gains.
  • Negative Net Interest Income: The company consistently shows negative net interest income (e.g., -$13 million in multiple recent quarters), indicating interest expense on debt outweighs interest income from assets.
  • Net Cash from Financing Activities: The company has negative financing cash flows due to dividends paid and share repurchases, reaching -$225 million in Q1 2025, which could affect liquidity depending on capital management strategy.

Summary: Cincinnati Financial has demonstrated generally strong earnings and a growing equity base over the trailing years. The business benefits from increasing premiums earned and significant investment gains, supporting revenue growth. However, recent quarters show heightened insurance claims, substantial restructuring charges, and a net loss in Q1 2025, raising caution for short-term profitability. The company's sound cash flow from operations and steady dividend payments remain positive signs for investors. Monitoring the impact of restructuring and underwriting results will be key moving forward.

08/29/25 08:16 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Cincinnati Financial's Financials

When does Cincinnati Financial's fiscal year end?

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

How has Cincinnati Financial's net income changed over the last 9 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 $634 million in 2015. The previous period was $1.84 billion in 2023. See Cincinnati Financial's forecast for analyst expectations on what’s next for the company.

How has Cincinnati Financial's revenue changed over the last 9 years?

Over the last 9 years, Cincinnati Financial's total revenue changed from $5.09 billion in 2015 to $11.28 billion in 2024, a change of 121.7%.

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 81.1% increase since 2015.

How much cash does Cincinnati Financial have?

In the past 9 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 9 years?

Over the last 9 years, Cincinnati Financial's book value per share changed from 39.22 in 2015 to 89.15 in 2024, a change of 127.3%.


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This page (NASDAQ:CINF) was last updated on 8/29/2025 by MarketBeat.com Staff
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