CINF

MKT CAP:$26B

Cincinnati Financial Corporation

Market Cap

$26B

Financial Services·Insurance - Property & Casualty·🇺🇸 United States·NASDAQ

Financials·Insurance·🇺🇸·NASDAQ

Stock Price

$167.50+$6.01 (+3.72%)

Apr 23, 2026

Company Details

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess a...

CEO

Stephen Michael Spray

IPO Date

Mar 17, 1980

Website

www.cinfin.com

Key Metrics TTM

Revenue

$12.6B

+11.4% YoY

Net Income

$2.4B

EPS (Diluted)

$15.17

Free Cash Flow

$3.1B

Revenue / Share

$80.03

Gross Margin

47.4%

Operating Margin

23.6%

Net Margin

19.0%

FCF Margin

24.6%

P/S

2.0x

P/E

10.8x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 23, 2026

$12.6B+11.4%EPS $15.17

Q4 2025

Feb 23, 2026

$3.1B+21.6%EPS $4.30

Q3 2025

Oct 27, 2025

$3.7B+12.2%EPS $7.11

Q2 2025

Jul 28, 2025

$3.2B+27.7%EPS $4.34

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$3.3B	$2.4B	$1.8B
Q2 22	$820M	-$502M	-$1.1B
Q3 22	$1.4B	-$8M	-$577M
Q4 22	$3.1B	$1.9B	$1.3B
Q1 23	$2.2B	$843M	$268M
Q2 23	$2.6B	$1.3B	$666M
Q3 23	$1.8B	$479M	-$148M
Q4 23	$3.4B	$2.2B	$1.5B
Q1 24	$2.9B	$1.6B	$953M
Q2 24	$2.5B	$1.1B	$386M
Q3 24	$3.3B	$1.7B	$1.0B
Q4 24	$2.5B	$1.2B	$479M
Q1 25	$2.6B	$598M	-$128M
Q2 25	$3.2B	$1.6B	$855M
Q3 25	$3.7B	$2.2B	$1.4B
Q4 25	$3.1B	$1.6B	$840M

Valuation

Quarter	P/S	P/E
Q4 21	2.7x	8.7x
Q2 22	3.1x	17.1x
Q3 22	3.5x	66.2x
Q4 22	3.0x	20.6x
Q1 23	3.4x	6434.1x
Q2 23	2.7x	19.0x
Q3 23	2.6x	15.4x
Q4 23	2.6x	14.0x
Q1 24	2.4x	10.8x
Q2 24	2.4x	12.0x
Q3 24	2.1x	8.4x
Q4 24	2.3x	11.2x
Q1 25	2.3x	17.8x
Q2 25	2.2x	14.1x
Q3 25	2.1x	12.1x
Q4 25	2.0x	10.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$463M	$460M
Q2 22	$557M	$553M
Q3 22	$666M	$662M
Q4 22	$631M	$628M
Q1 23	$250M	$246M
Q2 23	$575M	$571M
Q3 23	$650M	$648M
Q4 23	$577M	$569M
Q1 24	$353M	$346M
Q2 24	$742M	$737M
Q3 24	$912M	$906M
Q4 24	$642M	$638M
Q1 25	$310M	$307M
Q2 25	$741M	$737M
Q3 25	$1.1B	$1.1B
Q4 25	$947M	$937M

Capital Expenditures

Quarter	CapEx
Q4 21	$3M
Q2 22	$4M
Q3 22	$4M
Q4 22	$3M
Q1 23	$4M
Q2 23	$4M
Q3 23	$2M
Q4 23	$8M
Q1 24	$7M
Q2 24	$5M
Q3 24	$6M
Q4 24	$4M
Q1 25	$3M
Q2 25	$4M
Q3 25	$7M
Q4 25	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+23.3%	+7.2%
Q2 22	-63.2%	+28.4%
Q3 22	-38.6%	+39.6%
Q4 22	+74.5%	+14.1%
Q1 23	-32.6%	+33.6%
Q2 23	+217.7%	+3.5%
Q3 23	+28.4%	-1.4%
Q4 23	+7.8%	+2.1%
Q1 24	+31.0%	+0.5%
Q2 24	-2.3%	+11.3%
Q3 24	+83.3%	+16.4%
Q4 24	-24.4%	+10.3%
Q1 25	-12.6%	+35.9%
Q2 25	+27.7%	+10.9%
Q3 25	+12.2%	+1.4%
Q4 25	+21.6%	+9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$8M	0.2%
Q2 22	$9M	1.1%
Q3 22	$9M	0.6%
Q4 22	-$2M	-0.1%
Q1 23	$0	0.0%
Q2 23	$2M	0.1%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$51M	2.0%
Q1 25	$0	0.0%
Q2 25	$26M	0.8%
Q3 25	$3M	0.1%
Q4 25	-$5M	-0.2%

OpEx Breakdown

Quarter	G&A
Q4 25	$3.4B

Revenue Segments

Quarter	Commercial Lines Insurance	Excess and Surplus Lines Insurance	Life Insurance Product Line	Personal Lines Insurance
Q3 23	$1.1B	$136M	$79M	$528M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$987M	$12.4B	$13.4B
Q2 22	$1.1B	$11.9B	$13.0B
Q3 22	$1.1B	$11.7B	$12.8B
Q4 22	$1.3B	$12.1B	$13.4B
Q1 23	$955M	$12.7B	$13.6B
Q2 23	$748M	$12.9B	$13.6B
Q3 23	$899M	$814M	$1.7B
Q4 23	$907M	$13.8B	$14.7B
Q1 24	$619M	$963M	$1.6B
Q2 24	$771M	$1.2B	$1.9B
Q3 24	$1.8B	$1.2B	$2.9B
Q4 24	$983M	$16.5B	$17.5B
Q1 25	$1.0B	$1.2B	$2.2B
Q2 25	$995M	$1.2B	$2.2B
Q3 25	$1.5B	$1.0B	$2.5B
Q4 25	$1.4B	$18.3B	$19.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	163M	-0.2%	+0.2%
Q2 22	160M	-1.8%	-1.8%
Q3 22	158M	-1.0%	-3.0%
Q4 22	158M	+0.1%	-2.9%
Q1 23	159M	+0.2%	-2.5%
Q2 23	158M	-0.3%	-1.0%
Q3 23	157M	-0.7%	-0.7%
Q4 23	158M	+0.6%	-0.3%
Q1 24	158M	+0.1%	-0.4%
Q2 24	158M	-0.3%	-0.3%
Q3 24	158M	+0.1%	+0.5%
Q4 24	158M	0.0%	-0.1%
Q1 25	156M	-0.8%	-0.9%
Q2 25	158M	+0.9%	+0.2%
Q3 25	158M	0.0%	+0.1%
Q4 25	158M	-0.0%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$643.2K	5K
Q2 22	$158.7K	5K
Q3 22	$272.9K	5K
Q4 22	$604.9K	5K
Q1 23	$435.3K	5K
Q2 23	$506.0K	5K
Q3 23	$351.8K	5K
Q4 23	$618.5K	5K
Q1 24	$540.9K	5K
Q2 24	$468.9K	5K
Q3 24	$611.9K	5K
Q4 24	$56M	45
Q1 25	$57M	45
Q2 25	$72M	45
Q3 25	$83M	45
Q4 25	$64M	48

Revenue / Employee