Cincinnati Financial (CINF) Financials

$154.86 +1.59 (+1.04%)

As of 03:17 PM Eastern

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

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

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

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

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

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

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%

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%

Financials Breakdown Chart

Key Financial Trends

Cincinnati Financial (NASDAQ:CINF) has experienced notable financial fluctuations over the past four years through Q1 2025. Here are the key trends and insights from its income statements, balance sheets, and cash flow statements:

The company achieved substantial net income growth throughout 2023 and 2024, reaching a peak quarterly net income of $1.183 billion in Q4 2023 and $820 million in Q3 2024, indicating strong profitability during those periods.
Premiums earned showed steady growth, increasing from approximately $1.875 billion in Q4 2022 to $2.344 billion by Q1 2025, suggesting successful revenue generation from insurance operations.
Trading account securities holdings have increased from about $21.9 billion in Q4 2022 to $27.6 billion in Q1 2025, reflecting growth in investment assets which support earnings and capital.
Despite negative quarters, Cincinnati consistently maintained positive cash flow from operating activities, with $310 million in Q1 2025 and significantly higher figures in prior quarters, underscoring operational cash generation strength.
Long-term debt remained fairly stable around $870 million to $895 million across the four years, indicating conservative leverage management without significant new borrowing or repayments.
The weighted average shares outstanding remained steady near 156-157 million shares, showing no material dilution or share buyback impact on earnings per share calculations besides repurchases.
Q1 2025 saw a sharp reversal with a net loss of $90 million compared to large profits in prior quarters, driven heavily by a $702 million restructuring charge and significantly higher insurance claim expenses ($1.968 billion in Q1 2025 vs. previous quarters about $1.3-$1.6 billion).
Net realized and unrealized capital gains fluctuated widely, spiking to $1.016 billion in Q3 2024 but dropping to a loss of $231 million in Q3 2023 and only $213 million in Q1 2025, contributing to earnings volatility and investment risk exposure.
The accumulated other comprehensive income (AOCI) consistently showed negative values increasing in absolute terms from -$528 million in early 2023 to -$271 million in Q1 2025, reflecting unrealized losses or adverse market conditions impacting equity.
Cash dividends per share increased modestly from $0.75 in Q3 2023 to $0.87 in Q1 2025, which while showing commitment to shareholder returns, may strain cash resources given recent net losses and heavy restructuring costs.

Summary: Cincinnati Financial demonstrated strong profitability and revenue growth through 2023 and 2024, supported by growing premiums and investment assets. However, the company encountered significant setbacks in Q1 2025, with losses from restructuring and elevated claim costs, alongside investment volatility affecting capital gains. Cash flow from operations remains positive, and balance sheet leverage is stable, which suggest some resilience. Retail investors should monitor the company's restructuring outcomes, claim expense control, and investment portfolio performance closely, as these could materially impact future earnings and stock performance.

09/17/25 03:17 PM ETAI Generated. May Contain Errors.

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 where experts think Cincinnati Financial is headed by visiting Cincinnati Financial's forecast page.

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 9/17/2025 by MarketBeat.com Staff

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Cincinnati Financial (CINF) Financials

Financials Breakdown Chart

Key Financial Trends

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Cincinnati Financial (CINF) Financials

Annual Income Statements for Cincinnati Financial

Quarterly Income Statements for Cincinnati Financial

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Quarterly Cash Flow Statements for Cincinnati Financial

Annual Balance Sheets for Cincinnati Financial

Quarterly Balance Sheets for Cincinnati Financial

Annual Metrics And Ratios for Cincinnati Financial

Quarterly Metrics And Ratios for Cincinnati Financial

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Key Financial Trends

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