Selective Insurance (SIGI) financial statements
Selective Insurance reported revenue of $5.3B in fiscal 2025, up 9.9% a year over 9 years.
Net income was $466M and the operating margin 99.3%, against 98.5% in 2016.
Free cash flow was $1.2B, and the company returned $93M in dividends and $93M in net buybacks.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Selective Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B | $2.5B | $2.6B | $2.8B | $2.9B | $3.4B | $3.6B | $4.2B | $4.9B | $5.3B |
| Operating income | $2.2B | $2.4B | $2.6B | $2.8B | $2.9B | $3.4B | $3.5B | $4.2B | $4.8B | $5.3B |
| Interest expense | $23M | $24M | $24M | $34M | $31M | $29M | $29M | $29M | $29M | $49M |
| Pre-tax income | $220M | $262M | $212M | $336M | $303M | $505M | $280M | $458M | $258M | $590M |
| Income tax | $61M | $93M | $33M | $65M | $57M | $101M | $55M | $93M | $51M | $123M |
| Net income | $158M | $169M | $179M | $272M | $246M | $404M | $225M | $365M | $207M | $466M |
| EPS (diluted) | $2.70 | $2.84 | $3.00 | $4.53 | $4.09 | $6.50 | $3.54 | $5.84 | $3.23 | $7.49 |
| Diluted shares | 59M | 59M | 60M | 60M | 60M | 61M | 61M | 61M | 61M | 61M |
| Operating margin | 98.5% | 98.5% | 99.0% | 98.9% | 99.1% | 99.2% | 99.1% | 99.3% | 99.3% | 99.3% |
| Net margin | 6.9% | 6.8% | 6.9% | 9.5% | 8.4% | 12.0% | 6.3% | 8.6% | 4.3% | 8.7% |
Balance sheet
Fiscal years, from Selective Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $458,000 | $534,000 | $505,000 | $300,000 | $394,000 | $455,000 | $26,000 | $180,000 | $91,000 | $346,000 |
| Receivables | $682M | $747M | $771M | $824M | $836M | $945M | $1.1B | $1.3B | $1.5B | $1.5B |
| Property, plant and equipment | $70M | $64M | $65M | $77M | $78M | $82M | $84M | $83M | $93M | $106M |
| Goodwill | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M |
| Total assets | $7.4B | $7.7B | $8.0B | $8.8B | $9.7B | $10.5B | $10.8B | $11.8B | $13.5B | $15.2B |
| Long-term debt | — | — | — | $551M | $551M | $506M | $505M | $504M | $508M | — |
| Total liabilities | $5.8B | $6.0B | $6.2B | $6.6B | $6.9B | $7.5B | $8.3B | $8.8B | $10.4B | $11.5B |
| Shareholders' equity | $1.5B | $1.7B | $1.8B | $2.2B | $2.7B | $3.0B | $2.5B | $3.0B | $3.1B | $3.6B |
| Net debt | -$458,000 | -$534,000 | -$505,000 | $550M | $550M | $506M | $505M | $504M | $508M | -$346,000 |
Cash flow
Fiscal years, from Selective Insurance's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $330M | $380M | $455M | $477M | $554M | $771M | $802M | $759M | $1.1B | $1.2B |
| Capital spending | — | — | $16M | $31M | $22M | $22M | $26M | $23M | $31M | $39M |
| Free cash flow | — | — | $439M | $447M | $532M | $749M | $776M | $736M | $1.1B | $1.2B |
| Stock-based compensation | $10M | $12M | $15M | $19M | $16M | $16M | $18M | $18M | $23M | $23M |
| Dividends paid | $34M | $37M | $42M | $48M | $54M | $60M | $67M | $74M | $85M | $93M |
| Share buybacks (net) | -$5M | -$6M | -$7M | -$8M | -$7M | -$9M | -$18M | -$8M | -$16M | -$93M |
| Net borrowing | — | — | — | — | — | -$50M | -$60M | -$20M | $0 | -$100,000 |
| Free cash flow margin | — | — | 17.0% | 15.7% | 18.2% | 22.2% | 21.8% | 17.4% | 22.0% | 22.4% |
| Dividends per share | $0.57 | $0.62 | $0.70 | $0.79 | $0.90 | $0.99 | $1.10 | $1.21 | $1.39 | $1.52 |
Questions
What was Selective Insurance's revenue in 2025?
$5.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Selective Insurance generate?
$1.2B in fiscal 2025 (operating cash flow minus capital spending).
From Selective Insurance's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.