United Fire (UFCS) financial statements
United Fire reported revenue of $1.4B in fiscal 2025, up 3.7% a year over 9 years.
Net income was $118M and the operating margin 10.7%, against 5.8% in 2016.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from United Fire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $996M | $1.1B | $1.1B | $1.2B | $1.1B | $1.1B | $980M | $1.1B | $1.3B | $1.4B |
| Operating income | $57M | $16M | -$9M | $17M | -$170M | $97M | $12M | -$40M | $77M | $148M |
| Interest expense | $0 | $0 | $0 | $0 | $0 | $3M | $3M | $3M | $7M | $11M |
| Pre-tax income | $57M | $16M | -$9M | $17M | -$170M | $97M | $12M | -$40M | $77M | $148M |
| Income tax | $8M | -$29M | -$11M | $2M | -$57M | $16M | -$3M | -$10M | $15M | $30M |
| Net income | $50M | $51M | $28M | $15M | -$113M | $81M | $15M | -$30M | $62M | $118M |
| EPS (diluted) | $1.93 | $1.99 | $1.08 | $0.58 | -$4.50 | — | $0.59 | -$1.18 | $2.39 | $4.48 |
| Diluted shares | 25M | 25M | 25M | 25M | 25M | 25M | 25M | 25M | 26M | 26M |
| Operating margin | 5.8% | 1.5% | -0.9% | 1.4% | -15.9% | 9.1% | 1.2% | -3.6% | 6.1% | 10.7% |
| Net margin | 5.0% | 4.8% | 2.6% | 1.2% | -10.5% | 7.6% | 1.5% | -2.7% | 4.9% | 8.5% |
Balance sheet
Fiscal years, from United Fire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $89M | $96M | $64M | $121M | $88M | $132M | $97M | $102M | $201M | $156M |
| Receivables | $306M | $329M | $347M | $358M | $317M | $317M | $366M | $465M | $451M | $498M |
| Property, plant and equipment | $56M | $69M | $97M | $117M | $130M | $138M | $133M | $134M | $136M | $133M |
| Goodwill | $15M | $15M | $15M | $15M | $0 | $0 | $0 | $0 | — | — |
| Total assets | $4.1B | $4.2B | $2.8B | $3.0B | $3.1B | $3.0B | $2.9B | $3.1B | $3.5B | $3.8B |
| Long-term debt | — | — | — | — | — | — | — | — | $0 | — |
| Total liabilities | $3.1B | $3.2B | $1.9B | $2.1B | $2.2B | $2.1B | $2.1B | $2.4B | $2.7B | $2.9B |
| Shareholders' equity | $942M | $973M | $888M | $910M | $825M | $879M | $740M | $734M | $782M | $941M |
| Net debt | -$89M | -$96M | -$64M | -$121M | -$88M | -$132M | -$97M | -$102M | -$201M | -$156M |
Cash flow
Fiscal years, from United Fire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $214M | $170M | $110M | $94M | $41M | $30M | -$1M | $172M | $340M | $270M |
| Stock-based compensation | $4M | $5M | $5M | $6M | $5M | $3M | $3M | $3M | $6M | $9M |
| Dividends paid | $25M | $27M | $105M | $33M | $29M | $15M | $16M | $16M | $16M | $16M |
| Share buybacks (net) | -$4M | -$30M | -$5M | -$12M | -$3M | -$2M | $0 | $0 | — | — |
| Net borrowing | — | — | $0 | $0 | $50M | $0 | $0 | $0 | — | — |
| Dividends per share | $0.97 | $1.09 | $4.22 | $1.30 | $1.14 | $0.60 | $0.63 | $0.64 | $0.63 | $0.62 |
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What was United Fire's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
From United Fire's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.