AMERICAN FINANCIAL GROUP INC AFG

Financials SIC 6331 - Fire, Marine & Casualty Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Insurance (except Life, Health, and Medical) Carriers › Direct Property and Casualty Insurance Carriers derived NYSE

American Financial Group, Inc. ("AFG" or the "Company") is an insurance holding company. Through the operations of Great American Insurance Group, AFG is engaged in property and casualty insurance, focusing on specialized commercial products for businesses. AFG's in-house team of investment professionals oversees the Company's investment portfolio. The members of the Great American Insurance Group have been in business for over 150 years. Management believes that over 55% of the 2025 gross written premiums in AFG's Specialty property and casualty group are produced by businesses that rank in the "top 10" amongst competitors based on gross written premiums.

AFG's address is 301 East Fourth Street, Cincinnati, Ohio 45202; its phone number is (513) 579-2121. SEC filings, news releases, AFG's Code of Ethics applicable to directors, officers and employees, AFG's Corporate Social Responsibility Report and other information may be accessed free of charge through AFG's website at: www.AFGinc.com. (Information on or accessible through AFG's website is not part of this Form 10-K.) See Note C — "Segments of Operations" to the financial statements for information on AFG's assets, revenues and earnings before income taxes by segment.

Last close 150.62 2026-10-23
Market cap $12.49B 2026-06-30 share count
52-week range 123.09 - 154.99

Valuation FY2025 figures against the last close

P/S1.5x
P/E14.9x
P/FCF8.1x
EV/EBITDA10.9x
Dividend yield4.9%
Diluted EPS10.08

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.17B$8.32B$7.83B$7.04B$6.55B$5.77B$6.21B$7.15B$6.87B$6.50B
SG&A $2.06B$2.01B$1.94B$1.72B$1.55B$1.62B————
Operating income $1.07B$1.12B$1.07B$1.12B$1.33B$339.0M$634.0M$639.0M$724.0M$787.0M
Interest expense $80.0M$76.0M$76.0M$85.0M$94.0M$88.0M$68.0M$62.0M$85.0M$77.0M
Pre-tax income $1.07B$1.12B$1.07B$1.12B$2.25B$848.0M$1.11B$639.0M$724.0M$787.0M
Income tax $231.0M$237.0M$221.0M$225.0M$254.0M$25.0M$143.0M$122.0M$247.0M$119.0M
Net income $842.0M$887.0M$852.0M$898.0M$2.00B$732.0M$897.0M$530.0M$475.0M$649.0M
EPS, basic 10.0810.5710.0610.5523.448.259.985.955.407.47
EPS, diluted 10.0810.5710.0510.5323.308.209.855.855.287.33
Shares, diluted (wtd. avg.) 83.5M83.9M84.8M85.3M85.6M89.2M91.0M90.6M89.8M88.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.73B$1.41B$1.23B$872.0M$2.13B$2.81B$2.31B$1.51B$2.34B$2.11B
Goodwill $327.0M$305.0M$305.0M$246.0M$246.0M$176.0M$176.0M$176.0M$199.0M$199.0M
Other intangibles $189.0M$203.0M$213.0M$108.0M$106.0M$34.0M$43.0M$54.0M$26.0M$34.0M
Total assets $32.64B$30.84B$29.79B$28.83B$28.93B$73.71B$70.13B$63.46B$60.66B$55.07B
Long-term debt $1.82B$1.48B$1.48B$1.50B$1.96B$1.96B$1.47B$1.30B$1.30B$1.28B
Total liabilities $27.82B$26.37B$25.53B$24.78B$23.92B$66.92B$63.86B$58.48B$55.32B$50.15B
Total equity $4.82B$4.47B$4.26B$4.05B$5.01B$6.79B$6.27B$4.97B$5.33B$4.92B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.53B$1.15B$1.97B$1.15B$1.71B$2.18B$2.46B$2.08B$1.80B$1.15B
Depreciation and amortisation $86.0M$81.0M$78.0M$100.0M$187.0M$299.0M$259.0M$210.0M$107.0M$134.0M
Investing cash flow -$835.0M$95.0M$414.0M-$1.05B-$436.0M-$1.56B-$3.06B-$5.35B-$3.29B-$2.98B
Financing cash flow -$377.0M-$1.07B-$2.03B-$1.36B-$1.96B-$123.0M$1.41B$2.44B$1.72B$2.72B
Dividends paid $606.0M$788.0M$684.0M$1.21B$2.37B$334.0M$444.0M$394.0M$417.0M$185.0M
Buybacks $99.0M$0$213.0M$11.0M$319.0M$313.0M$0$6.0M$0$133.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001042046-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2.5B 5B 7.5B 10B Revenue, FY2016: 6.5B Net income, FY2016: 649M Revenue, FY2017: 6.9B Net income, FY2017: 475M Revenue, FY2018: 7.2B Net income, FY2018: 530M Revenue, FY2019: 6.2B Net income, FY2019: 897M Revenue, FY2020: 5.8B Net income, FY2020: 732M Revenue, FY2021: 6.6B Net income, FY2021: 2B Revenue, FY2022: 7B Net income, FY2022: 898M Revenue, FY2023: 7.8B Net income, FY2023: 852M Revenue, FY2024: 8.3B Net income, FY2024: 887M Revenue, FY2025: 8.2B Net income, FY2025: 842M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.50B $6.87B $7.15B $6.21B $5.77B $6.55B $7.04B $7.83B $8.32B $8.17B
Gross profit — — — — — — — — — —
Net income $649.0M $475.0M $530.0M $897.0M $732.0M $2.00B $898.0M $852.0M $887.0M $842.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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