United Fire Group (UFCS) Financials

$27.42 -0.08 (-0.29%)

Closing price 04:00 PM Eastern

Extended Trading

$27.44 +0.01 (+0.05%)

As of 04:20 PM Eastern

Annual Income Statements for United Fire Group

This table shows United Fire Group'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	143	89	50	51	28	15	-113	81	15	-30	62
Consolidated Net Income / (Loss)	59	89	50	51	28	15	-113	81	15	-30	62
Net Income / (Loss) Continuing Operations	143	85	49	45	2.26	15	-113	81	15	-30	62
Total Pre-Tax Income	76	115	57	16	-9.15	17	-170	97	12	-40	77
Total Operating Income	189	115	57	16	-9.15	17	-170	101	31	-38	90
Total Gross Profit	987	899	996	1,053	1,070	1,201	1,101	414	997	1,092	1,257
Total Revenue	1,889	899	996	1,053	1,070	1,201	1,101	1,066	996	1,094	1,259
Operating Revenue	1,882	898	991	1,049	1,090	1,201	1,101	1,066	996	1,094	1,259
Total Cost of Revenue	902	0.00	0.00	0.00	0.00	0.00	0.00	652	-0.52	1.72	2.11
Operating Cost of Revenue	902	-	-	-	-	-	-	652	-0.52	1.72	2.11
Total Operating Expenses	799	784	939	1,037	1,079	1,184	1,271	314	966	1,130	1,167
Amortization Expense	167	180	203	208	206	217	210	203	213	245	281
Other Operating Expenses / (Income)	631	604	736	829	873	968	1,013	110	752	885	886
Total Other Income / (Expense), net	-29	0.00	0.00	0.00	0.00	0.00	0.00	-3.19	-19	-1.99	-13
Interest Expense	30	-	-	-	-	0.00	0.00	3.19	3.19	3.26	7.28
Other Income / (Expense), net	1.69	-	-	-	-	-	-	-	-16	1.27	-5.43
Income Tax Expense	17	30	8.38	-29	-11	2.06	-57	16	-2.95	-10	15
Basic Earnings per Share	$2.34	$3.56	$1.97	$2.03	$1.11	-	-	-	$0.60	($1.18)	$2.45
Weighted Average Basic Shares Outstanding	25.23M	25.05M	25.34M	25.10M	25.01M	25.14M	25.09M	25.10M	25.16M	25.25M	25.32M
Diluted Earnings per Share	$2.32	$3.53	$1.93	$1.99	$1.08	-	-	-	$0.59	($1.18)	$2.39
Weighted Average Diluted Shares Outstanding	24.99M	25.20M	25.46M	24.91M	25.11M	25.05M	25.09M	25.10M	25.32M	25.25M	25.92M
Weighted Average Basic & Diluted Shares Outstanding	24.99M	25.20M	25.46M	24.91M	25.11M	25.05M	25.09M	25.10M	25.22M	25.28M	25.38M
Cash Dividends to Common per Share	$0.78	$0.86	$0.97	$1.09	$4.21	$1.30	$1.14	$0.60	$0.63	$0.64	$0.64

This table shows United Fire Group'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	-23	20	0.69	-56	6.38	20	14	-2.70	21	31	18
Consolidated Net Income / (Loss)	-23	20	0.69	-56	6.38	20	14	-2.74	20	31	18
Net Income / (Loss) Continuing Operations	-23	20	0.69	-56	6.38	20	14	-2.74	20	31	18
Total Pre-Tax Income	-31	23	-0.00	-72	8.38	24	16	-3.77	25	40	22
Total Operating Income	-30	39	0.80	-73	11	23	18	-1.08	29	45	25
Total Gross Profit	53	458	91	266	276	460	296	302	324	515	332
Total Revenue	236	275	267	266	276	285	297	302	325	336	332
Operating Revenue	236	275	267	266	276	285	297	302	325	336	332
Total Cost of Revenue	182	-183	176	-0.20	0.18	-174	1.06	0.15	0.48	-179	0.14
Operating Cost of Revenue	182	-	176	-0.20	0.18	-174	1.06	0.15	0.48	-179	0.14
Total Operating Expenses	84	418	90	339	265	437	278	303	295	470	307
Amortization Expense	53	57	60	59	63	63	66	67	71	77	77
Other Operating Expenses / (Income)	30	383	30	280	202	373	212	236	224	394	229
Total Other Income / (Expense), net	-0.80	-17	-0.80	0.33	-2.76	1.24	-2.06	-2.69	-4.16	-5.00	-3.24
Interest Expense	0.80	0.80	0.80	0.80	0.80	0.87	0.86	1.46	2.48	2.48	2.48
Other Income / (Expense), net	-	-	-	1.12	-1.96	-	-1.20	-1.23	-1.68	-	-0.75
Income Tax Expense	-8.25	2.52	-0.70	-16	2.00	4.52	2.78	-1.04	5.23	8.10	4.15
Basic Earnings per Share	-	-	-	($2.23)	$0.25	-	$0.53	($0.11)	$0.78	-	$0.70
Weighted Average Basic Shares Outstanding	25.20M	25.16M	25.24M	25.26M	25.27M	25.25M	25.27M	25.34M	25.34M	25.32M	25.39M
Diluted Earnings per Share	-	-	-	($2.23)	$0.25	-	$0.52	($0.11)	$0.76	-	$0.67
Weighted Average Diluted Shares Outstanding	25.19M	25.32M	25.50M	25.25M	25.58M	25.25M	25.83M	25.31M	25.91M	25.92M	26.24M
Weighted Average Basic & Diluted Shares Outstanding	25.20M	25.22M	25.24M	25.26M	25.27M	25.28M	25.30M	25.34M	25.34M	25.38M	25.45M
Cash Dividends to Common per Share	$0.16	-	$0.16	$0.16	$0.16	-	$0.16	$0.16	$0.16	-	$0.16

This table details how cash moves in and out of United Fire Group'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	-1.62	39	-0.30	6.37	-31	56	-33	44	-35	5.40	99
Net Cash From Operating Activities	151	440	214	170	110	94	41	30	-1.25	172	340
Net Cash From Continuing Operating Activities	151	60	312	93	111	94	41	30	-1.25	172	340
Net Income / (Loss) Continuing Operations	59	85	49	45	30	15	-113	81	15	-30	62
Consolidated Net Income / (Loss)	59	89	50	51	28	15	-113	81	15	-30	62
Depreciation Expense	6.89	6.47	6.04	4.57	5.17	11	6.66	6.57	7.67	11	11
Amortization Expense	14	5.42	-7.05	8.87	-8.79	9.37	10	14	9.00	7.09	4.53
Non-Cash Adjustments To Reconcile Net Income	46	-25	347	98	180	52	191	-56	-29	165	287
Changes in Operating Assets and Liabilities, net	25	-12	-4.74	-18	7.28	6.80	-54	-14	-3.64	19	-24
Net Cash From Investing Activities	-59	-36	-112	-62	-19	4.50	-93	32	-19	-150	-292
Net Cash From Continuing Investing Activities	-59	-118	-128	-80	-34	4.50	-93	32	-19	-150	-292
Purchase of Property, Plant & Equipment	-8.15	-9.70	-7.60	-17	-33	-32	-19	-14	-2.14	-11	-12
Purchase of Investments	-618	-361	-448	-268	-514	-258	-445	-405	-297	-293	-961
Sale and/or Maturity of Investments	568	252	328	205	264	312	376	451	280	162	680
Other Investing Activities, net	-	-	-	0.00	-26	-17	-5.56	0.00	-0.10	-8.14	0.00
Net Cash From Financing Activities	-94	-138	-98	-108	-115	-42	19	-17	-15	-16	51
Net Cash From Continuing Financing Activities	-94	-4.42	-19	-52	-104	-42	19	-17	-15	-16	51
Repayment of Debt	-244	-	-	-	-	-	-	-	0.00	0.00	-3.05
Payment of Dividends	-20	-22	-25	-27	-105	-33	-29	-15	-16	-16	-16
Issuance of Debt	-	-	-	-	0.00	0.00	50	0.00	0.00	0.00	70
Issuance of Common Equity	2.26	5.50	9.92	4.83	7.17	2.38	-0.07	-0.42	0.83	-0.29	0.35
Cash Interest Paid	-	-	-	-	-	-	0.00	3.19	3.19	3.26	7.17
Cash Income Taxes Paid	-	-	-	-	-	-	0.14	5.36	22	1.35	16

This table details how cash moves in and out of United Fire Group'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	-39	44	-43	26	-11	33	116	-64	44	3.58	-17
Net Cash From Operating Activities	-14	29	-6.79	45	112	22	36	91	56	156	36
Net Cash From Continuing Operating Activities	-14	29	-6.79	45	112	22	36	91	56	156	36
Net Income / (Loss) Continuing Operations	-23	20	0.69	-56	6.38	20	14	-2.74	20	31	18
Consolidated Net Income / (Loss)	-23	20	0.69	-56	6.38	20	14	-2.74	20	31	18
Depreciation Expense	4.67	-0.41	2.65	2.54	2.66	2.67	2.67	3.15	2.50	2.59	2.50
Amortization Expense	1.87	2.03	1.80	1.69	1.75	1.85	1.67	1.40	0.86	0.61	0.26
Non-Cash Adjustments To Reconcile Net Income	6.63	-5.78	5.37	94	85	-19	81	36	19	151	43
Changes in Operating Assets and Liabilities, net	-4.10	13	-17	3.12	16	17	-63	54	14	-29	-28
Net Cash From Investing Activities	-21	19	-33	-14	-118	15	84	-218	-8.47	-149	-48
Net Cash From Continuing Investing Activities	-21	19	-33	-14	-118	15	84	-218	-8.47	-149	-48
Purchase of Property, Plant & Equipment	-3.37	0.54	-2.62	-3.00	-2.42	-2.85	-2.60	-3.24	-3.09	-2.94	-2.50
Purchase of Investments	-78	-30	-61	-46	-140	-46	-41	-395	-239	-285	-123
Sale and/or Maturity of Investments	61	48	31	43	25	63	128	179	234	139	77
Net Cash From Financing Activities	-4.21	-4.05	-4.13	-4.16	-4.05	-4.11	-4.30	63	-4.05	-3.36	-4.79
Net Cash From Continuing Financing Activities	-4.21	-4.05	-4.13	-4.16	-4.05	-4.11	-4.30	63	-4.05	-3.36	-4.79
Payment of Dividends	-4.03	-4.03	-4.04	-4.04	-4.04	-4.04	-4.05	-4.05	-4.06	-4.06	-4.06
Issuance of Common Equity	-0.18	-0.02	-0.10	-0.12	-0.01	-0.07	-0.26	-0.11	-0.04	0.76	-0.73
Cash Interest Paid	0.80	0.80	0.80	0.80	0.80	0.87	0.86	1.46	2.48	2.37	2.43
Cash Income Taxes Paid	0.01	0.01	0.01	1.31	0.01	0.01	0.01	9.60	1.10	5.40	0.00

This table presents United Fire Group'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	3,857	3,890	4,055	4,183	2,817	3,013	3,070	3,013	2,882	3,144	3,488
Total Current Assets	91	106	103	102	79	155	472	178	143	140	231
Cash & Equivalents	91	106	89	96	64	121	88	132	97	102	201
Short-Term Investments	-	-	-	-	-	15	0.18	14	15	16	16
Current Deferred & Refundable Income Taxes	-	0.00	14	6.03	15	19	66	32	31	21	14
Plant, Property, & Equipment, net	49	53	56	69	97	117	130	138	133	134	136
Total Noncurrent Assets	3,717	3,731	3,896	4,013	2,640	2,741	2,468	2,697	2,606	2,870	3,121
Long-Term Investments	3,167	3,139	1,772	1,889	2,048	2,112	2,101	2,017	1,807	1,886	2,093
Noncurrent Note & Lease Receivables	4.20	3.96	-	0.00	26	400	208	364	404	465	451
Intangible Assets	-	-	-	-	-	-	-	-	-	-	3.91
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.00	0.91	-	-	0.00	16	14	23
Other Noncurrent Operating Assets	520	562	2,099	2,100	542	206	152	310	375	501	551
Total Liabilities & Shareholders' Equity	3,857	3,890	4,055	4,183	2,817	3,013	3,070	3,013	2,882	3,144	3,488
Total Liabilities	3,039	3,011	3,113	3,210	1,928	2,103	2,245	2,134	2,142	2,410	2,707
Total Current Liabilities	5.01	0.00	1,124	1,224	1,312	1,422	1,578	1,514	1,497	1,639	1,797
Other Current Liabilities	-	-	1,124	1,224	1,312	1,422	1,578	1,514	1,497	1,639	1,797
Total Noncurrent Liabilities	3,034	3,011	1,989	1,986	616	681	666	619	645	772	910
Long-Term Debt	-	-	-	-	-	0.00	50	50	50	50	117
Other Noncurrent Operating Liabilities	3,009	2,997	591	633	616	661	591	543	595	722	793
Total Equity & Noncontrolling Interests	817	879	942	973	888	910	825	879	740	734	782
Total Preferred & Common Equity	817	879	942	973	888	910	825	879	740	734	782
Total Common Equity	817	879	942	973	888	910	825	879	740	734	782
Common Stock	203	207	217	196	203	200	202	203	207	210	216
Retained Earnings	524	591	616	609	715	697	556	621	621	575	620
Accumulated Other Comprehensive Income / (Loss)	91	80	109	168	-30	13	67	54	-87	-51	-55

This table presents United Fire Group'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 2021	Q1 2022	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2021	3/31/2022	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	3,011	2,930	2,885	2,819	2,898	3,018	3,052	3,245	3,409	3,546	3,528
Total Current Assets	202	459	126	93	243	123	106	229	173	230	208
Cash & Equivalents	133	110	92	53	53	80	69	218	153	197	184
Short-Term Investments	-	0.28	-	-	159	-	-	0.10	0.10	16	16
Current Deferred & Refundable Income Taxes	69	15	34	40	30	43	36	12	20	17	7.90
Plant, Property, & Equipment, net	136	139	135	133	133	134	134	134	135	135	136
Total Noncurrent Assets	2,673	2,332	2,625	2,593	2,523	2,761	2,812	2,881	3,101	3,181	3,184
Long-Term Investments	2,009	1,930	1,842	1,777	1,682	1,790	1,784	1,688	1,895	1,995	2,165
Noncurrent Note & Lease Receivables	169	182	182	203	200	241	257	281	285	609	685
Intangible Assets	6.21	5.86	5.68	5.50	5.15	4.97	4.79	4.44	4.26	4.08	3.73
Noncurrent Deferred & Refundable Income Taxes	-	-	9.38	26	14	22	37	23	27	14	20
Other Noncurrent Operating Assets	489	214	585	582	621	703	730	884	890	558	311
Total Liabilities & Shareholders' Equity	3,011	2,930	2,885	2,819	2,898	3,018	3,052	3,245	3,409	3,546	3,528
Total Liabilities	2,196	2,094	2,104	2,118	2,147	2,342	2,407	2,508	2,682	2,760	2,711
Total Current Liabilities	0.00	1,488	1,460	1,465	1,499	1,615	1,637	1,691	1,756	1,795	1,816
Other Current Liabilities	-	1,488	1,460	1,465	1,499	1,615	1,637	1,691	1,756	1,795	1,816
Total Noncurrent Liabilities	2,196	606	644	654	647	727	770	817	926	965	894
Long-Term Debt	50	50	50	50	50	50	50	50	117	117	117
Other Noncurrent Operating Liabilities	2,128	549	594	604	597	677	720	767	809	848	777
Total Equity & Noncontrolling Interests	815	836	781	701	752	676	645	737	727	786	818
Total Preferred & Common Equity	815	836	781	701	752	676	645	737	727	786	818
Total Common Equity	815	836	781	701	752	676	645	737	727	786	818
Common Stock	203	204	206	207	208	209	210	211	212	213	217
Retained Earnings	567	646	631	604	617	557	559	584	577	593	634
Accumulated Other Comprehensive Income / (Loss)	44	-14	-57	-111	-73	-89	-124	-58	-63	-21	-33

This table displays calculated financial ratios and metrics derived from United Fire Group'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	7.17%	-52.40%	10.80%	5.66%	1.66%	12.24%	-8.34%	-3.16%	-6.57%	9.84%	15.04%
EBITDA Growth	-21.19%	-39.90%	-55.62%	-48.49%	-143.87%	393.34%	-507.07%	179.17%	-73.53%	-159.06%	628.87%
EBIT Growth	-23.15%	-39.42%	-50.16%	-72.78%	-158.47%	284.47%	-1,104.30%	159.29%	-84.81%	-338.85%	331.25%
NOPAT Growth	-80.90%	-41.56%	-42.43%	-8.65%	-114.27%	331.38%	-900.68%	170.49%	-53.64%	-168.12%	373.26%
Net Income Growth	-22.33%	50.71%	-44.01%	2.24%	-45.81%	-46.40%	-860.50%	171.51%	-81.35%	-297.59%	308.61%
EPS Growth	-22.15%	52.16%	-45.33%	3.11%	-45.73%	0.00%	0.00%	0.00%	0.00%	-300.00%	302.54%
Operating Cash Flow Growth	-6.32%	190.94%	-51.29%	-20.66%	-35.27%	-14.85%	-55.80%	-27.80%	-104.18%	13,827.90%	98.16%
Free Cash Flow Firm Growth	-67.09%	-94.91%	-23,830.74%	106.45%	763.42%	-91.73%	-210.79%	102.23%	-2,217.41%	198.75%	296.19%
Invested Capital Growth	-3.60%	3.02%	119.91%	-28.68%	-464.40%	-9.28%	1.77%	6.12%	8.58%	-8.22%	-15.61%
Revenue Q/Q Growth	4.51%	-54.12%	5.96%	7.60%	-1.95%	40.38%	-18.76%	-3.84%	-2.55%	2.48%	4.07%
EBITDA Q/Q Growth	-8.21%	-52.09%	51.35%	226.95%	-114.36%	545.66%	8.89%	263.23%	-62.50%	16.12%	15.83%
EBIT Q/Q Growth	-8.97%	-52.43%	71.09%	280.22%	-114.82%	95.43%	10.43%	649.11%	-76.65%	1.95%	21.56%
NOPAT Q/Q Growth	-81.50%	-56.40%	83.90%	104.69%	-108.33%	145.12%	10.43%	392.07%	-30.46%	-1.47%	27.93%
Net Income Q/Q Growth	16.26%	-4.19%	-27.47%	199.69%	-73.15%	0.00%	0.00%	476.99%	-71.45%	-1.75%	23.61%
EPS Q/Q Growth	16.58%	-3.81%	-28.78%	220.97%	-73.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	15.66%	133.69%	-65.25%	476.18%	-10.49%	-3.40%	67.62%	-58.73%	93.07%	-3.55%	65.05%
Free Cash Flow Firm Q/Q Growth	-71.56%	-93.03%	-3,311.79%	104.79%	-7.34%	310.06%	-24.80%	-84.91%	52.82%	25.66%	28.33%
Invested Capital Q/Q Growth	-1.74%	0.20%	119.38%	-9.40%	0.40%	-6.65%	-3.25%	3.38%	-4.54%	-5.44%	-8.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.26%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	38.83%	100.05%	99.84%	99.83%
EBITDA Margin	11.21%	14.15%	5.67%	2.76%	-1.19%	3.12%	-13.84%	11.32%	3.21%	-1.72%	7.92%
Operating Margin	9.99%	12.83%	5.77%	1.49%	-0.86%	1.41%	-15.40%	9.43%	3.13%	-3.45%	7.13%
EBIT Margin	10.08%	12.83%	5.77%	1.49%	-0.86%	1.41%	-15.40%	9.43%	1.53%	-3.33%	6.70%
Profit (Net Income) Margin	3.13%	9.91%	5.01%	4.85%	2.58%	1.23%	-10.24%	7.56%	1.51%	-2.71%	4.92%
Tax Burden Percent	77.34%	77.25%	86.79%	326.03%	-302.19%	87.80%	66.49%	83.22%	124.46%	74.77%	80.43%
Interest Burden Percent	40.15%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	96.36%	79.12%	108.94%	91.36%
Effective Tax Rate	22.66%	26.05%	14.57%	-186.71%	0.00%	12.20%	0.00%	16.78%	-24.46%	0.00%	19.57%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	11.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	10.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	-5.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	7.39%	10.51%	5.48%	5.33%	2.97%	1.65%	-12.99%	9.46%	1.86%	-4.03%	8.18%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-591.85%	44.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	5.03%	2.98%	1.45%	0.38%	-0.26%	0.58%	-5.57%	3.30%	0.52%	-1.21%	2.54%
Return on Assets (ROA)	1.56%	2.30%	1.26%	1.24%	0.79%	0.51%	-3.71%	2.65%	0.51%	-0.99%	1.87%
Return on Common Equity (ROCE)	7.39%	10.51%	5.48%	5.33%	2.97%	1.65%	-12.99%	9.46%	1.86%	-4.03%	8.18%
Return on Equity Simple (ROE_SIMPLE)	7.23%	10.14%	5.30%	5.24%	3.11%	1.63%	-13.66%	9.17%	2.03%	-4.05%	7.93%
Net Operating Profit after Tax (NOPAT)	146	85	49	45	-6.41	15	-119	84	39	-26	72
NOPAT Margin	7.73%	9.49%	4.93%	4.26%	-0.60%	1.23%	-10.78%	7.84%	3.89%	-2.41%	5.73%
Net Nonoperating Expense Percent (NNEP)	-2.72%	0.12%	0.04%	1.11%	2.48%	0.00%	0.27%	-0.14%	-1.19%	-0.17%	-0.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	4.91%	-3.37%	8.03%
Cost of Revenue to Revenue	47.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	61.17%	-0.05%	0.16%	0.17%
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%
R&D 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	42.27%	87.17%	94.23%	98.51%	100.86%	98.59%	115.40%	29.41%	96.92%	103.29%	92.70%
Earnings before Interest and Taxes (EBIT)	190	115	57	16	-9.15	17	-170	101	15	-36	84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	212	127	56	29	-13	37	-152	121	32	-19	100
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.67	0.83	1.03	0.93	1.34	1.06	0.70	0.62	0.88	0.67	0.92
Price to Tangible Book Value (P/TBV)	0.70	0.85	1.06	0.95	1.38	1.09	0.70	0.62	0.89	0.68	0.93
Price to Revenue (P/Rev)	0.29	0.81	0.97	0.86	1.11	0.80	0.52	0.51	0.65	0.45	0.57
Price to Earnings (P/E)	3.85	8.18	19.39	17.68	43.09	65.12	0.00	6.77	43.35	0.00	11.64
Dividend Yield	3.55%	2.96%	2.54%	3.01%	8.86%	3.37%	4.95%	2.76%	2.44%	3.27%	2.25%
Earnings Yield	25.97%	12.23%	5.16%	5.66%	2.32%	1.54%	0.00%	14.78%	2.31%	0.00%	8.59%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.06	0.06	0.07	0.07	0.15
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.06	0.06	0.07	0.07	0.15
Financial Leverage	-4.00	-3.83	-2.04	-0.58	-1.48	-2.42	-2.53	-2.50	-2.46	-2.59	-2.74
Leverage Ratio	4.74	4.57	4.36	4.30	3.76	3.24	3.50	3.57	3.64	4.09	4.38
Compound Leverage Factor	1.90	4.57	4.36	4.30	3.76	3.24	3.50	3.44	2.88	4.45	4.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.71%	5.38%	6.33%	6.38%	13.03%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.71%	5.38%	6.33%	6.38%	13.03%
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	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	94.29%	94.62%	93.67%	93.62%	86.97%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.33	0.41	1.57	-2.65	1.17
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	14.04	-17.51	-58.50	103.63	-21.98
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.33	0.41	1.57	-2.65	1.17
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.42	0.60	1.29	-1.89	1.62
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	18.03	-25.26	-48.17	73.99	-30.38
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.42	0.60	1.29	-1.89	1.62
Altman Z-Score	0.98	0.72	0.39	0.31	0.57	0.51	0.15	0.37	0.28	0.12	0.31
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	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	18.07	0.00	0.09	0.08	0.06	0.11	0.30	0.12	0.10	0.09	0.13
Quick Ratio	18.07	0.00	0.08	0.08	0.05	0.10	0.06	0.10	0.07	0.07	0.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	231	12	-2,788	180	1,554	128	-142	3.17	-67	66	263
Operating Cash Flow to CapEx	1,856.10%	4,539.59%	2,820.84%	991.34%	333.11%	289.13%	219.67%	214.06%	-58.54%	1,577.59%	2,866.93%
Free Cash Flow to Firm to Interest Expense	7.63	0.00	0.00	0.00	0.00	0.00	0.00	1.00	-21.06	20.34	36.08
Operating Cash Flow to Interest Expense	5.00	0.00	0.00	0.00	0.00	0.00	0.00	9.39	-0.39	52.68	46.74
Operating Cash Flow Less CapEx to Interest Expense	4.73	0.00	0.00	0.00	0.00	0.00	0.00	5.00	-1.06	49.34	45.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.23	0.25	0.26	0.31	0.41	0.36	0.35	0.34	0.36	0.38
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	39.17	17.55	18.32	16.91	12.88	11.22	8.92	7.97	7.36	8.19	9.31
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-2,440	-2,366	471	336	-1,224	-1,338	-1,314	-1,234	-1,128	-1,221	-1,411
Invested Capital Turnover	-0.79	-0.37	-1.05	2.61	-2.41	-0.94	-0.83	-0.84	-0.84	-0.93	-0.96
Increase / (Decrease) in Invested Capital	-85	74	2,837	-135	-1,560	-114	24	80	106	-93	-191
Enterprise Value (EV)	-2,707	-2,516	-893	-1,082	-921	-1,283	-1,563	-1,568	-1,216	-1,460	-1,472
Market Capitalization	550	729	968	902	1,191	965	576	545	652	495	721
Book Value per Share	$32.64	$35.05	$37.14	$39.13	$35.43	$36.37	$32.96	$35.05	$29.37	$29.04	$30.84
Tangible Book Value per Share	$31.59	$34.03	$36.17	$38.16	$34.51	$35.47	$32.70	$34.81	$29.16	$28.86	$30.69
Total Capital	817	879	942	973	888	910	875	929	790	784	899
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	50	50	50	50	117
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	50	50	50	50	117
Net Debt	-3,257	-3,245	-1,861	-1,984	-2,113	-2,249	-2,140	-2,113	-1,868	-1,954	-2,193
Capital Expenditures (CapEx)	8.15	9.70	7.60	17	33	32	19	14	2.14	11	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.01	0.00	-1,110	-1,218	-1,297	-1,403	-1,195	-1,482	-1,466	-1,617	-1,783
Debt-free Net Working Capital (DFNWC)	86	106	-1,020	-1,123	-1,233	-1,266	-1,107	-1,336	-1,354	-1,499	-1,566
Net Working Capital (NWC)	86	106	-1,020	-1,123	-1,233	-1,266	-1,107	-1,336	-1,354	-1,499	-1,566
Net Nonoperating Expense (NNE)	87	-3.81	-0.79	-6.15	-34	0.00	-5.95	3.04	24	3.29	10
Net Nonoperating Obligations (NNO)	-3,257	-3,245	-471	-637	-2,113	-2,249	-2,140	-2,113	-1,868	-1,954	-2,193
Total Depreciation and Amortization (D&A)	21	12	-1.01	13	-3.61	21	17	20	17	18	15
Debt-free, Cash-free Net Working Capital to Revenue	-0.27%	0.00%	-111.37%	-115.71%	-121.24%	-116.77%	-108.50%	-138.99%	-147.15%	-147.81%	-141.62%
Debt-free Net Working Capital to Revenue	4.53%	11.84%	-102.41%	-106.64%	-115.22%	-105.44%	-100.50%	-125.32%	-135.96%	-137.02%	-124.39%
Net Working Capital to Revenue	4.53%	11.84%	-102.41%	-106.64%	-115.22%	-105.44%	-100.50%	-125.32%	-135.96%	-137.02%	-124.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.34	$3.56	$1.97	$2.03	$1.11	$0.59	($4.50)	$0.00	$0.00	$0.00	$2.45
Adjusted Weighted Average Basic Shares Outstanding	25.23M	25.05M	25.34M	25.10M	25.01M	25.14M	25.03M	25.09M	25.22M	25.28M	25.32M
Adjusted Diluted Earnings per Share	$2.32	$3.53	$1.93	$1.99	$1.08	$0.58	($4.50)	$0.00	$0.00	$0.00	$2.39
Adjusted Weighted Average Diluted Shares Outstanding	24.99M	25.20M	25.46M	24.91M	25.11M	25.05M	25.09M	25.10M	25.22M	25.28M	25.92M
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	24.99M	25.20M	25.46M	24.91M	25.11M	25.05M	25.09M	25.10M	25.22M	25.28M	25.38M
Normalized Net Operating Profit after Tax (NOPAT)	146	85	49	11	-6.41	15	-85	84	22	-26	72
Normalized NOPAT Margin	7.73%	9.49%	4.93%	1.04%	-0.60%	1.23%	-7.76%	7.84%	2.19%	-2.41%	5.73%
Pre Tax Income Margin	4.05%	12.83%	5.77%	1.49%	-0.86%	1.41%	-15.40%	9.08%	1.21%	-3.63%	6.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.30	0.00	0.00	0.00	0.00	0.00	0.00	31.53	4.79	-11.18	11.58
NOPAT to Interest Expense	4.83	0.00	0.00	0.00	0.00	0.00	0.00	26.24	12.16	-8.10	9.91
EBIT Less CapEx to Interest Expense	6.03	0.00	0.00	0.00	0.00	0.00	0.00	27.15	4.12	-14.52	9.95
NOPAT Less CapEx to Interest Expense	4.56	0.00	0.00	0.00	0.00	0.00	0.00	21.86	11.49	-11.44	8.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.28%	24.30%	49.28%	53.58%	381.22%	220.39%	-25.31%	18.69%	105.52%	-54.42%	26.17%
Augmented Payout Ratio	55.16%	27.02%	56.78%	111.95%	400.77%	299.34%	-27.74%	21.18%	105.52%	-54.42%	26.17%

This table displays calculated financial ratios and metrics derived from United Fire Group'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	-6.08%	-8.67%	8.81%	10.60%	17.13%	3.84%	10.82%	13.70%	17.66%	17.70%	11.66%
EBITDA Growth	-178.67%	-47.70%	-86.93%	-620.57%	156.83%	-33.07%	310.00%	103.32%	126.91%	74.18%	26.13%
EBIT Growth	-123.27%	-46.53%	-97.76%	-438.53%	130.14%	-41.80%	2,053.64%	96.77%	199.31%	94.61%	41.96%
NOPAT Growth	-123.27%	-40.51%	-98.08%	-447.00%	139.81%	-46.78%	2,451.01%	98.51%	171.68%	90.42%	33.60%
Net Income Growth	-139.56%	-65.15%	-97.55%	-439.18%	127.76%	-2.54%	1,845.53%	95.15%	209.53%	60.35%	31.09%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	95.07%	204.00%	0.00%	28.85%
Operating Cash Flow Growth	16.36%	143.35%	-525.45%	355.60%	902.08%	-22.11%	632.88%	104.55%	-49.43%	603.35%	-1.35%
Free Cash Flow Firm Growth	-3,870.67%	-226.77%	42.08%	-100.54%	139.78%	256.84%	167.17%	675.80%	96.29%	102.96%	700.28%
Invested Capital Growth	15.51%	8.58%	5.25%	-3.65%	-7.30%	-8.22%	-2.39%	-5.36%	-12.81%	-15.61%	-27.74%
Revenue Q/Q Growth	-2.04%	16.59%	3.22%	-0.43%	3.74%	3.37%	2.62%	2.16%	7.36%	3.40%	-1.14%
EBITDA Q/Q Growth	-156.23%	271.38%	-79.09%	-1,382.69%	120.21%	101.86%	-29.91%	-89.60%	1,279.23%	54.95%	-43.26%
EBIT Q/Q Growth	-129.43%	229.24%	-96.60%	-9,073.62%	112.84%	149.54%	-34.38%	-113.47%	1,288.57%	62.25%	-45.37%
NOPAT Q/Q Growth	-129.43%	264.07%	-97.32%	-9,214.82%	116.70%	119.33%	-33.04%	-105.32%	3,144.55%	53.74%	-42.62%
Net Income Q/Q Growth	-119.77%	187.55%	-96.55%	-8,224.21%	111.32%	207.34%	-31.14%	-120.26%	822.05%	59.22%	-43.71%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	111.21%	0.00%	0.00%	0.00%	790.91%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	20.32%	305.06%	-123.78%	757.97%	150.04%	-80.09%	62.67%	152.57%	-38.18%	176.94%	-77.18%
Free Cash Flow Firm Q/Q Growth	-111.20%	67.65%	29.42%	82.51%	930.76%	27.55%	-23.37%	49.95%	183.21%	31.88%	46.42%
Invested Capital Q/Q Growth	2.18%	-4.54%	3.08%	-4.57%	-1.27%	-5.44%	3.45%	-7.60%	-8.43%	-8.05%	-1.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.57%	166.60%	34.04%	100.07%	99.94%	161.16%	38.95%	99.95%	99.85%	153.39%	99.96%
EBITDA Margin	-10.14%	14.91%	1.96%	-25.27%	4.92%	9.61%	7.26%	0.74%	9.49%	14.22%	8.16%
Operating Margin	-12.92%	14.32%	0.30%	-27.28%	4.03%	8.03%	5.79%	-0.36%	8.97%	13.27%	7.56%
EBIT Margin	-12.92%	14.32%	0.30%	-26.86%	3.32%	8.03%	5.79%	-0.76%	8.46%	13.27%	7.33%
Profit (Net Income) Margin	-9.76%	7.33%	0.26%	-21.20%	2.31%	6.88%	4.56%	-0.90%	6.08%	9.37%	5.33%
Tax Burden Percent	73.59%	88.87%	-69,400.00%	78.06%	76.17%	81.26%	82.92%	72.55%	79.07%	79.51%	80.99%
Interest Burden Percent	102.62%	57.57%	-0.13%	101.12%	91.31%	105.42%	94.99%	163.20%	90.96%	88.77%	89.80%
Effective Tax Rate	0.00%	11.13%	0.00%	0.00%	23.83%	18.74%	17.08%	0.00%	20.93%	20.49%	19.01%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	6.95%	1.86%	-1.59%	-8.04%	-4.34%	-4.03%	-2.27%	5.24%	7.01%	8.18%	8.51%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-4.53%	4.84%	0.10%	-9.35%	1.21%	2.91%	2.12%	-0.28%	3.10%	5.04%	2.80%
Return on Assets (ROA)	-3.42%	2.48%	0.09%	-7.38%	0.84%	2.50%	1.67%	-0.33%	2.23%	3.56%	2.04%
Return on Common Equity (ROCE)	6.95%	1.86%	-1.59%	-8.04%	-4.34%	-4.03%	-2.27%	5.24%	7.01%	8.18%	8.51%
Return on Equity Simple (ROE_SIMPLE)	7.51%	0.00%	-1.68%	-8.66%	-4.53%	0.00%	-2.29%	5.06%	6.38%	0.00%	8.09%
Net Operating Profit after Tax (NOPAT)	-21	35	0.56	-51	8.48	19	14	-0.76	23	35	20
NOPAT Margin	-9.04%	12.73%	0.21%	-19.10%	3.07%	6.52%	4.80%	-0.25%	7.10%	10.55%	6.12%
Net Nonoperating Expense Percent (NNEP)	-0.09%	-0.75%	0.01%	-0.30%	-0.12%	0.05%	-0.04%	-0.11%	-0.17%	-0.19%	-0.13%
Return On Investment Capital (ROIC_SIMPLE)	-	4.42%	-	-	-	2.37%	-	-	-	3.94%	2.17%
Cost of Revenue to Revenue	77.43%	-66.60%	65.96%	-0.07%	0.06%	-61.16%	61.05%	0.05%	0.15%	-53.39%	0.04%
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%
R&D 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	35.49%	152.29%	33.75%	127.35%	95.90%	153.13%	33.16%	100.31%	90.88%	140.12%	92.40%
Earnings before Interest and Taxes (EBIT)	-30	39	0.80	-71	9.17	23	17	-2.31	27	45	24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-24	41	5.24	-67	14	27	21	2.23	31	48	27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.98	0.88	0.86	0.82	0.75	0.67	0.74	0.75	0.67	0.92	0.91
Price to Tangible Book Value (P/TBV)	0.99	0.89	0.86	0.83	0.76	0.68	0.75	0.75	0.68	0.93	0.92
Price to Revenue (P/Rev)	0.67	0.65	0.64	0.54	0.45	0.45	0.49	0.47	0.44	0.57	0.58
Price to Earnings (P/E)	13.10	43.35	0.00	0.00	0.00	0.00	0.00	14.78	10.40	11.64	11.30
Dividend Yield	2.27%	2.44%	2.50%	2.91%	3.34%	3.27%	2.96%	2.98%	3.06%	2.25%	2.17%
Earnings Yield	7.64%	2.31%	0.00%	0.00%	0.00%	0.00%	0.00%	6.77%	9.62%	8.59%	8.85%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.07	0.07	0.07	0.08	0.07	0.07	0.16	0.15	0.15	0.14
Long-Term Debt to Equity	0.07	0.07	0.07	0.07	0.08	0.07	0.07	0.16	0.15	0.15	0.14
Financial Leverage	-2.55	-2.46	-2.42	-2.54	-2.66	-2.59	-2.49	-2.67	-2.72	-2.74	-2.64
Leverage Ratio	3.85	3.64	3.67	4.05	4.36	4.09	4.13	4.58	4.61	4.38	4.36
Compound Leverage Factor	3.95	2.10	0.00	4.10	3.98	4.31	3.92	7.48	4.19	3.89	3.91
Debt to Total Capital	6.66%	6.33%	6.24%	6.88%	7.19%	6.38%	6.36%	13.87%	12.96%	13.03%	12.53%
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	6.66%	6.33%	6.24%	6.88%	7.19%	6.38%	6.36%	13.87%	12.96%	13.03%	12.53%
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	93.34%	93.67%	93.76%	93.12%	92.81%	93.62%	93.64%	86.13%	87.04%	86.97%	87.47%
Debt to EBITDA	0.59	1.57	-17.11	-0.81	-2.22	-2.65	-19.08	1.69	1.36	1.17	1.11
Net Debt to EBITDA	-20.90	-58.50	631.22	29.39	80.17	103.63	708.46	-27.92	-24.29	-21.98	-21.33
Long-Term Debt to EBITDA	0.59	1.57	-17.11	-0.81	-2.22	-2.65	-19.08	1.69	1.36	1.17	1.11
Debt to NOPAT	0.90	1.29	-3.67	-0.91	-1.92	-1.89	-3.55	2.79	2.07	1.62	1.52
Net Debt to NOPAT	-31.92	-48.17	135.43	33.01	69.25	73.99	131.83	-46.06	-37.08	-30.38	-29.08
Long-Term Debt to NOPAT	0.90	1.29	-3.67	-0.91	-1.92	-1.89	-3.55	2.79	2.07	1.62	1.52
Altman Z-Score	0.24	0.31	0.30	0.07	0.13	0.18	0.21	0.14	0.19	0.27	0.26
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	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.06	0.10	0.16	0.08	0.06	0.09	0.14	0.10	0.13	0.13	0.11
Quick Ratio	0.04	0.07	0.14	0.05	0.04	0.07	0.13	0.09	0.12	0.12	0.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-219	-71	-60	-11	87	111	40	60	171	226	331
Operating Cash Flow to CapEx	-412.78%	0.00%	-259.50%	1,487.34%	4,613.31%	780.27%	1,389.20%	2,821.47%	1,827.12%	5,318.16%	1,429.82%
Free Cash Flow to Firm to Interest Expense	-275.26	-89.05	-75.36	-13.18	109.51	128.10	46.96	41.43	69.05	91.07	133.23
Operating Cash Flow to Interest Expense	-17.46	35.81	-8.51	56.02	140.08	25.58	42.10	62.56	22.76	63.02	14.37
Operating Cash Flow Less CapEx to Interest Expense	-21.70	36.49	-11.80	52.26	137.04	22.30	39.07	60.34	21.51	61.84	13.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.35	0.34	0.34	0.35	0.36	0.36	0.37	0.36	0.37	0.38	0.38
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.59	7.36	7.37	7.64	8.00	8.19	8.40	8.64	8.98	9.31	9.56
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1,079	-1,128	-1,093	-1,143	-1,158	-1,221	-1,119	-1,205	-1,306	-1,411	-1,430
Invested Capital Turnover	-0.87	-0.84	-0.89	-0.91	-0.95	-0.93	-1.02	-0.99	-0.98	-0.96	-1.01
Increase / (Decrease) in Invested Capital	198	106	61	-40	-79	-93	-26	-61	-148	-191	-310
Enterprise Value (EV)	-1,090	-1,216	-1,200	-1,265	-1,318	-1,460	-1,310	-1,387	-1,562	-1,472	-1,500
Market Capitalization	689	652	645	555	484	495	546	544	530	721	748
Book Value per Share	$27.82	$29.37	$29.79	$26.80	$25.53	$29.04	$29.15	$28.72	$31.02	$30.84	$32.21
Tangible Book Value per Share	$27.60	$29.16	$29.59	$26.60	$25.34	$28.86	$28.97	$28.56	$30.85	$30.69	$32.07
Total Capital	751	790	802	726	695	784	787	844	903	899	935
Total Debt	50	50	50	50	50	50	50	117	117	117	117
Total Long-Term Debt	50	50	50	50	50	50	50	117	117	117	117
Net Debt	-1,780	-1,868	-1,845	-1,820	-1,803	-1,954	-1,856	-1,931	-2,092	-2,193	-2,248
Capital Expenditures (CapEx)	3.37	-0.54	2.62	3.00	2.42	2.85	2.60	3.24	3.09	2.94	2.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,425	-1,466	-1,469	-1,572	-1,600	-1,617	-1,679	-1,736	-1,778	-1,783	-1,809
Debt-free Net Working Capital (DFNWC)	-1,372	-1,354	-1,257	-1,492	-1,531	-1,499	-1,461	-1,583	-1,565	-1,566	-1,609
Net Working Capital (NWC)	-1,372	-1,354	-1,257	-1,492	-1,531	-1,499	-1,461	-1,583	-1,565	-1,566	-1,609
Net Nonoperating Expense (NNE)	1.68	15	-0.14	5.59	2.10	-1.01	0.71	1.98	3.29	3.98	2.62
Net Nonoperating Obligations (NNO)	-1,780	-1,868	-1,845	-1,820	-1,803	-1,954	-1,856	-1,931	-2,092	-2,193	-2,248
Total Depreciation and Amortization (D&A)	6.54	1.62	4.44	4.23	4.41	4.52	4.34	4.54	3.36	3.20	2.76
Debt-free, Cash-free Net Working Capital to Revenue	-139.39%	-147.15%	-146.66%	-153.00%	-149.89%	-147.81%	-149.36%	-149.56%	-147.03%	-141.62%	-139.83%
Debt-free Net Working Capital to Revenue	-134.20%	-135.96%	-125.44%	-145.25%	-143.41%	-137.02%	-129.98%	-136.34%	-129.37%	-124.39%	-124.39%
Net Working Capital to Revenue	-134.20%	-135.96%	-125.44%	-145.25%	-143.41%	-137.02%	-129.98%	-136.34%	-129.37%	-124.39%	-124.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.11)	$0.78	$0.00	$0.70
Adjusted Weighted Average Basic Shares Outstanding	25.20M	25.16M	25.24M	25.26M	25.27M	25.25M	25.30M	25.34M	25.34M	25.32M	25.39M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.11)	$0.76	$0.00	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	25.19M	25.32M	25.50M	25.25M	25.58M	25.25M	25.83M	25.31M	25.91M	25.92M	26.24M
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	25.20M	25.22M	25.24M	25.26M	25.27M	25.28M	25.30M	25.34M	25.34M	25.38M	25.45M
Normalized Net Operating Profit after Tax (NOPAT)	-21	35	0.56	-51	8.48	19	14	-0.76	23	35	20
Normalized NOPAT Margin	-9.04%	12.73%	0.21%	-19.10%	3.07%	6.52%	4.80%	-0.25%	7.10%	10.55%	6.12%
Pre Tax Income Margin	-13.26%	8.24%	0.00%	-27.16%	3.04%	8.46%	5.50%	-1.25%	7.69%	11.78%	6.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-38.18	49.35	1.00	-89.62	11.51	26.34	19.96	-1.58	11.07	17.95	9.80
NOPAT to Interest Expense	-26.73	43.85	0.70	-63.72	10.64	21.40	16.55	-0.52	9.29	14.28	8.18
EBIT Less CapEx to Interest Expense	-42.41	50.02	-2.28	-93.39	8.47	23.06	16.93	-3.80	9.82	16.77	8.80
NOPAT Less CapEx to Interest Expense	-30.96	44.53	-2.58	-67.49	7.60	18.13	13.52	-2.74	8.04	13.09	7.18
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.61%	105.52%	-127.77%	-27.57%	-55.35%	-54.42%	-95.74%	44.03%	32.31%	26.17%	24.53%
Augmented Payout Ratio	29.61%	105.52%	-127.77%	-27.57%	-55.35%	-54.42%	-95.74%	44.03%	32.31%	26.17%	24.53%

Key Financial Trends

United Fire Group delivered solid year-over-year growth in Q1 2025, driven by higher revenue, profitability and free cash flow, though quarterly results show seasonal softness in operating metrics.

Revenue increased 11.7% year-over-year to $331.9 million, reversing early-2024 weakness.
Adjusted net operating profit after tax (NOPAT) grew 34.0% y/y to $20.3 million, lifting NOPAT margin to 6.1%.
Free Cash Flow to Firm (FCFF) rose 7.0% y/y to $330.8 million, underscoring strong capital generation.
EPS advanced 28.8% y/y to $0.70 (basic), supporting a meaningful 2.17% dividend yield.
Leverage remains low, with debt-to-equity at 14.3% and net debt negative $2.25 billion.
Valuation metrics are undemanding: P/B at 0.91x, P/E of 11.3x and P/Rev of 0.58x.
Return on Equity held at a healthy 8.5%, in line with historical averages.
Quarterly operating revenue slid 1.1% Q/Q, reflecting typical seasonality but below trend.
EBITDA declined 43.3% Q/Q, driving operating margin down to 7.6% from Q4’s 14.2%.
Net cash from operating activities fell 77% Q/Q to $35.7 million, highlighting working capital headwinds.

07/18/25 09:21 PMAI Generated. May Contain Errors.

Frequently Asked Questions About United Fire Group's Financials

When does United Fire Group's financial year end?

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

How has United Fire Group's net income changed over the last 10 years?

United Fire Group's net income appears to be on a downward trend, with a most recent value of $61.96 million in 2024, rising from $59.14 million in 2014. The previous period was -$29.70 million in 2023. See where experts think United Fire Group is headed by visiting United Fire Group's forecast page.

What is United Fire Group's operating income?

United Fire Group's total operating income in 2024 was $89.74 million, based on the following breakdown:

Total Gross Profit: $1.26 billion
Total Operating Expenses: $1.17 billion

How has United Fire Group's revenue changed over the last 10 years?

Over the last 10 years, United Fire Group's total revenue changed from $1.89 billion in 2014 to $1.26 billion in 2024, a change of -33.4%.

How much debt does United Fire Group have?

United Fire Group's total liabilities were at $2.71 billion at the end of 2024, a 12.3% increase from 2023, and a 10.9% decrease since 2014.

How much cash does United Fire Group have?

In the past 10 years, United Fire Group's cash and equivalents has ranged from $64.45 million in 2018 to $200.95 million in 2024, and is currently $200.95 million as of their latest financial filing in 2024.

How has United Fire Group's book value per share changed over the last 10 years?

Over the last 10 years, United Fire Group's book value per share changed from 32.64 in 2014 to 30.84 in 2024, a change of -5.5%.

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This page (NASDAQ:UFCS) was last updated on 7/18/2025 by MarketBeat.com Staff

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United Fire Group (UFCS) Financials

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