AFGC FY 2025 Earnings Report — American Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

American Financial Group, Inc.AFGC

FY 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$8.1B	—	$8.0B	—	1.3%
Op. Income	$7.9B	—	$8.0B	—	-0.5%
Gross Margin	45.9%	—	100.0%	—	-54.1pp
Net Margin	10.4%	—	11.1%	—	-0.7pp
EPS (Diluted)	$10.08	—	$10.57	—	-4.6%
Free Cash Flow	$1.4B	—	$1.0B	—	37.2%

Revenue Flow

Item	Amount
REVENUE	$8.1B
Cost of Revenue	$4.4B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.7B
Operating Expenses	$2.7B
Cost & Expenses	$7.0B
OPERATING INCOME	$7.9B
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$6.9B
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$231M
Net Income from Continuing Ops	$842M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$842M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$842M
D&A	$0
EBIT	$1.2B
EBITDA	$1.2B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$8.1B
Cost of Revenue	$4.4B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.7B
Operating Expenses	$2.7B
Cost & Expenses	$7.0B
OPERATING INCOME	$7.9B
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$6.9B
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$231M
Net Income from Continuing Ops	$842M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$842M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$842M
D&A	$0
EBIT	$1.2B
EBITDA	$1.2B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$842M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$81M
Change in Working Capital	$610M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$135M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$835M
NET CASH FROM INVESTING	-$835M
Net Debt Issuance	$344M
Common Stock Repurchased	-$99M
Common Dividends Paid	-$606M
Other Financing Activities	-$28M
NET CASH FROM FINANCING	-$377M
FREE CASH FLOW	$1.4B
Net Change in Cash	$321M

Balance Sheet

Item	Amount
Cash & Equivalents	$17.2B
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18.4B
PP&E (Net)	$0
Goodwill	$327M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$327M
TOTAL ASSETS	$32.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$26.0B
TOTAL NON-CURRENT LIABILITIES	$27.8B
TOTAL LIABILITIES	$27.8B
Common Stock	$83M
Additional Paid-In Capital	$1.4B
Retained Earnings	$3.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$50M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$0
TOTAL EQUITY	$4.8B
TOTAL LIABILITIES & EQUITY	$32.6B
Total Debt	$1.8B
Net Debt	-$15.4B