AFG Q4 2017 Earnings Report — American Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

American Financial Group, Inc.AFG

Q4 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$1.8B	$1.8B	$1.7B	-1.5%	4.1%
Op. Income	$267M	$29M	$317M	820.7%	-15.8%
Gross Margin	23.5%	8.8%	24.9%	14.6pp	-1.5pp
Net Margin	9.2%	0.6%	22.2%	8.6pp	-13.0pp
EPS (Diluted)	$1.84	$0.12	$4.31	1433.3%	-57.3%
Free Cash Flow	$811M	$419M	$477M	93.6%	70.0%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$424M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$157M
Operating Expenses	$157M
Cost & Expenses	$1.5B
OPERATING INCOME	$267M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$267M
Income Tax Expense	$101M
Net Income from Continuing Ops	$166M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$166M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$166M
D&A	$2M
EBIT	$287M
EBITDA	$289M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$424M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$157M
Operating Expenses	$157M
Cost & Expenses	$1.5B
OPERATING INCOME	$267M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$267M
Income Tax Expense	$101M
Net Income from Continuing Ops	$166M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$166M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$166M
D&A	$2M
EBIT	$287M
EBITDA	$289M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$166M
Depreciation & Amortization	$2M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	$247M
Change in Working Capital	$390M
OPERATING CASH FLOW	$811M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$3.3B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	-$147M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$23M
Common Stock Repurchased	$0
Common Dividends Paid	-$205M
Other Financing Activities	$461M
NET CASH FROM FINANCING	$240M
FREE CASH FLOW	$811M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$38.4B
Net Receivables	$0
Inventory	$1.6B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$0
Goodwill	$199M
Intangible Assets	$26M
Long-Term Investments	$40.4B
Tax Assets	$0
Other Non-Current Assets	$16.5B
TOTAL NON-CURRENT ASSETS	$57.1B
TOTAL ASSETS	$60.7B
Account Payables	$3.7B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$3.7B
TOTAL CURRENT LIABILITIES	$54.0B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$43.7B
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$55.3B
Common Stock	$88M
Additional Paid-In Capital	$1.2B
Retained Earnings	$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	$813M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.3B
Minority Interest	$4M
TOTAL EQUITY	$5.3B
TOTAL LIABILITIES & EQUITY	$60.7B
Total Debt	$1.3B
Net Debt	-$1.0B