American Financial (AFG) financial statements
American Financial reported revenue of $8.2B in fiscal 2025, up 2.6% a year over 9 years.
Net income was $842M and the operating margin 13.1%, against 12.1% in 2016.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from American Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5B | $6.9B | $7.2B | $6.2B | $5.8B | $6.6B | $7.0B | $7.8B | $8.3B | $8.2B |
| Selling, general and admin | — | — | — | — | $1.6B | $1.5B | $1.7B | $1.9B | $2.0B | $2.1B |
| Operating income | $787M | $724M | $639M | $634M | $339M | $1.3B | $1.1B | $1.1B | $1.1B | $1.1B |
| Interest expense | $77M | $85M | $62M | $68M | $88M | $94M | $85M | $76M | $76M | $80M |
| Pre-tax income | $787M | $724M | $639M | $1.1B | $848M | — | — | $1.0B | $1.1B | $1.0B |
| Income tax | $119M | $247M | $122M | $143M | $25M | $254M | $225M | $221M | $237M | $231M |
| Net income | $649M | $475M | $530M | $897M | $732M | $2.0B | $898M | $852M | $887M | $842M |
| EPS (diluted) | $7.33 | $5.28 | $5.85 | $9.85 | $8.20 | $23.30 | $10.53 | $10.05 | $10.57 | $10.08 |
| Diluted shares | 88M | 90M | 91M | 91M | 89M | 86M | 85M | 85M | 84M | 84M |
| Operating margin | 12.1% | 10.5% | 8.9% | 10.2% | 5.9% | 20.4% | 16.0% | 13.7% | 13.5% | 13.1% |
| Net margin | 10.0% | 6.9% | 7.4% | 14.4% | 12.7% | 30.4% | 12.8% | 10.9% | 10.7% | 10.3% |
Balance sheet
Fiscal years, from American Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.1B | $2.3B | $1.5B | $2.3B | $1.7B | $2.1B | $872M | $1.2B | $1.4B | $1.7B |
| Receivables | $997M | $1.1B | $1.2B | $1.3B | $1.2B | $1.3B | $1.3B | $1.5B | $1.5B | $1.6B |
| Goodwill | $199M | $199M | $176M | $176M | $176M | $246M | $246M | $305M | $305M | $327M |
| Total assets | $55.1B | $60.7B | $63.5B | $70.1B | $73.7B | $28.9B | $28.8B | $29.8B | $30.8B | $32.6B |
| Total liabilities | $50.2B | $55.3B | $58.5B | $63.9B | $66.9B | $23.9B | $24.8B | $25.5B | $26.4B | $27.8B |
| Shareholders' equity | $4.9B | $5.3B | $5.0B | $6.3B | $6.8B | $5.0B | $4.1B | $4.3B | $4.5B | $4.8B |
| Net debt | -$2.1B | -$2.3B | -$1.5B | -$2.3B | -$1.7B | -$2.1B | -$872M | -$1.2B | -$1.4B | -$1.7B |
Cash flow
Fiscal years, from American Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $1.8B | $2.1B | $2.5B | $2.2B | $1.7B | $1.2B | $2.0B | $1.2B | $1.5B |
| Stock-based compensation | $28M | $30M | $23M | $23M | $20M | $16M | $19M | $18M | $18M | $18M |
| Dividends paid | $185M | $417M | $394M | $444M | $334M | $2.4B | $1.2B | $684M | $788M | $606M |
| Share buybacks (net) | -$133M | $0 | -$6M | $0 | -$313M | -$319M | -$11M | -$213M | $0 | -$99M |
| Net borrowing | $284M | -$33M | $0 | $165M | $484M | $0 | -$477M | -$21M | $0 | $344M |
| Dividends per share | $2.09 | $4.64 | $4.35 | $4.88 | $3.74 | $27.73 | $14.22 | $8.07 | $9.39 | $7.26 |
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What was American Financial's revenue in 2025?
$8.2B in fiscal 2025, from its 10-K filing.
From American Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.