Cincinnati Financial (CINF) financial statements
Cincinnati Financial reported revenue of $12.6B in fiscal 2025, up 9.8% a year over 9 years.
Net income was $2.4B and the operating margin 23.6%, against 14.9% in 2016.
Free cash flow was $3.1B, and the company returned $525M in dividends and $205M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cincinnati Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4B | $5.7B | $5.4B | $7.9B | $7.5B | $9.6B | $6.6B | $10.0B | $11.3B | $12.6B |
| Operating income | $812M | $730M | $251M | $2.5B | $1.5B | $3.7B | -$694M | $2.3B | $2.9B | $3.0B |
| Interest expense | $53M | $53M | $53M | $53M | $54M | $53M | $53M | $54M | $53M | $53M |
| Pre-tax income | $812M | $730M | $251M | $2.5B | $1.5B | $3.7B | -$694M | $2.3B | $2.9B | $3.0B |
| Income tax | $221M | -$315M | -$36M | $475M | $283M | $730M | -$207M | $433M | $566M | $587M |
| Net income | $591M | $1.0B | $287M | $2.0B | $1.2B | $3.0B | -$487M | $1.8B | $2.3B | $2.4B |
| EPS (diluted) | $3.55 | $6.29 | $1.75 | $12.10 | $7.49 | $18.24 | -$3.06 | $11.66 | $14.53 | $15.17 |
| Diluted shares | 166M | 166M | 164M | 165M | 162M | 163M | 159M | 158M | 158M | 158M |
| Operating margin | 14.9% | 12.7% | 4.6% | 31.2% | 19.9% | 38.4% | -10.6% | 22.7% | 25.2% | 23.6% |
| Net margin | 10.8% | 18.2% | 5.3% | 25.2% | 16.1% | 30.8% | -7.4% | 18.4% | 20.2% | 18.9% |
Balance sheet
Fiscal years, from Cincinnati 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 | $777M | $657M | $784M | $767M | $900M | $1.1B | $1.3B | $907M | $1.3B | $1.6B |
| Receivables | $1.5B | $1.6B | $1.6B | $1.8B | $1.9B | $2.1B | $2.3B | $2.6B | $3.0B | $3.1B |
| Property, plant and equipment | $183M | $185M | $195M | $207M | $213M | $205M | $202M | $208M | $214M | $219M |
| Total assets | $20.4B | $21.8B | $21.9B | $25.4B | $27.5B | $31.4B | $29.7B | $32.8B | $36.5B | $41.0B |
| Long-term debt | $826M | $827M | $834M | $846M | $845M | $843M | $841M | $849M | $850M | $861M |
| Total liabilities | $13.3B | $13.6B | $14.1B | $15.5B | $16.8B | $18.3B | $19.2B | $20.7B | $22.6B | $25.1B |
| Shareholders' equity | $7.1B | $8.2B | $7.8B | $9.9B | $10.8B | $12.8B | $10.6B | $12.1B | $13.9B | $15.9B |
| Net debt | $49M | $170M | $50M | $79M | -$55M | -$296M | -$423M | -$58M | -$133M | -$570M |
Cash flow
Fiscal years, from Cincinnati 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 | $1.1B | $1.2B | $1.2B | $1.5B | $2.0B | $2.1B | $2.1B | $2.6B | $3.1B |
| Capital spending | $13M | $16M | $20M | $24M | $20M | $15M | $15M | $18M | $22M | $20M |
| Free cash flow | $1.1B | $1.0B | $1.2B | $1.2B | $1.5B | $2.0B | $2.0B | $2.0B | $2.6B | $3.1B |
| Stock-based compensation | $23M | $26M | $28M | $30M | $31M | $33M | — | — | — | — |
| Dividends paid | $306M | $400M | $336M | $355M | $375M | $395M | $423M | $454M | $490M | $525M |
| Share buybacks (net) | -$39M | -$92M | -$125M | -$67M | -$261M | -$144M | -$410M | -$67M | -$126M | -$205M |
| Free cash flow margin | 20.2% | 18.1% | 21.5% | 14.9% | 19.5% | 20.4% | 31.0% | 20.3% | 23.2% | 24.5% |
| Dividends per share | $1.84 | $2.41 | $2.04 | $2.15 | $2.31 | $2.43 | $2.66 | $2.87 | $3.11 | $3.33 |
Questions
What was Cincinnati Financial's revenue in 2025?
$12.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Cincinnati Financial generate?
$3.1B in fiscal 2025 (operating cash flow minus capital spending).
From Cincinnati Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.