CINCINNATI FINANCIAL CORP

10-K & 10-Q Filings

Cincinnati Financial Corporation is an Ohio corporation founded in 1968 with its lead subsidiary, The Cincinnati Insurance Company, established in 1950. The company's main business is property casualty insurance marketed through independent insurance agencies in 46 states. Cincinnati Financial Corporation owns 100% of four subsidiaries: The Cincinnati Insurance Company, Cincinnati Global Underwriting Ltd., CSU Producer Resources Inc., and CFC Investment Company. The company's filings with the U.S. Securities and Exchange Commission (SEC) are available on its website, cinfin.com/investors. The company's business strategy is focused on growing profitably and enhancing the ability of local independent insurance agents to deliver quality financial protection to their clients. It has three competitive advantages: commitment to independent insurance agencies, financial strength, and operating structure that supports local decision making. The company competes in the property casualty insurance industry, which is a highly competitive marketplace with more than 2,000 stock and mutual companies. The company's business segments include commercial lines insurance, personal lines insurance, excess and surplus lines insurance, life insurance, and investments. Commercial lines insurance includes commercial casualty, commercial property, commercial auto, and workers' compensation. Personal lines insurance includes personal auto, homeowner, and other personal lines. Excess and surplus lines insurance includes coverage for unique and complex risks. Life insurance includes term life, whole life, and universal life and other policies. The investments segment includes the company's fixed-maturity portfolio and equity portfolio. The company's website is cinfin.com, and its ticker symbol is CINF.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3803.00
4111.00
4531.00
4945.00
5142.00
5449.00
5732.00
5407.00
7924.00
7536.00
9630.00
6557.00
10013.00
2241.00
2935.00
8.40%30.97%Premiums Earned (+)
$3194.00
3522.00
3902.00
4243.00
4480.00
4710.00
4954.00
5170.00
5604.00
5980.00
6482.00
7219.00
7958.00
1918.00
2071.00
7.90%7.98%Operating Expenses (-)
$67.00
68.00
69.00
67.00
66.00
65.00
66.00
69.00
76.00
74.00
73.00
76.00
79.00
19.00
1.38%Costs & Expenses (Total) (-)
$3627.00
3545.00
3817.00
4224.00
4261.00
4637.00
5002.00
5156.00
5452.00
6037.00
5960.00
7250.00
7737.00
1973.00
1982.00
6.52%0.46%Operating Income/Loss (+)
$176.00
566.00
714.00
721.00
881.00
812.00
730.00
251.00
2472.00
1499.00
3670.00
-693.00
2276.00
268.00
953.00
23.78%255.60%Interest Expense (-)
$54.00
54.00
54.00
53.00
53.00
53.00
53.00
53.00
53.00
54.00
53.00
53.00
54.00
14.00
13.00
0.00%-7.14%Earnings before Tax (+)
$176.00
566.00
714.00
721.00
881.00
812.00
730.00
251.00
2472.00
1499.00
3670.00
-693.00
2276.00
268.00
953.00
23.78%255.60%Tax Expense (-)
$10.00
145.00
197.00
196.00
247.00
221.00
-315.00
-36.00
475.00
283.00
724.00
-207.00
433.00
43.00
198.00
36.89%360.47%Income/Loss (Continuing Operations) (+)
$166.00
421.00
517.00
525.00
634.00
591.00
1045.00
287.00
1997.00
1216.00
2946.00
-486.00
1843.00
225.00
755.00
22.21%235.56%Net Income/Loss (+)
$166.00
421.00
517.00
525.00
634.00
591.00
1045.00
287.00
1997.00
1216.00
2946.00
-486.00
1843.00
225.00
755.00
22.21%235.56%Net Income/Loss (Common) (+)
$166.00
421.00
517.00
525.00
634.00
591.00
1045.00
287.00
1997.00
1216.00
2946.00
-486.00
1843.00
225.00
755.00
22.21%235.56%EPS (Basic)
$1.02
2.59
3.16
3.21
3.87
3.59
6.36
1.76
12.24
7.55
18.29
-3.06
11.74
1.43
4.82
22.58%237.06%EPS (Diluted)
$1.02
2.57
3.12
3.18
3.83
3.55
6.29
1.75
12.10
7.49
18.10
-3.06
11.66
1.42
4.78
22.51%236.62%Weighted Avg Shares (Basic)
162.28
163.23
163.51
164.17
164.34
164.72
163.99
162.94
162.69
161.20
160.43
157.24
156.67
157.21
156.56
-0.29%-0.42%Cash
$438.00
487.00
433.00
591.00
544.00
777.00
657.00
784.00
767.00
900.00
1139.00
955.00
619.00
-35.18%Receivables
$1087.00
1214.00
1346.00
1405.00
1431.00
1533.00
1589.00
1644.00
1777.00
1879.00
2053.00
2322.00
2592.00
2509.00
2805.00
7.51%11.80%Securities & Long-term Investments
$11801.00
12534.00
13564.00
14386.00
14423.00
15500.00
17051.00
16732.00
19746.00
21542.00
24666.00
22425.00
25357.00
23123.00
26249.00
6.58%13.52%Property, Plant & Equipment (Net)
$227.00
217.00
210.00
194.00
185.00
183.00
185.00
195.00
207.00
213.00
205.00
202.00
208.00
199.00
211.00
-0.73%6.03%Other Assets
$2115.00
2096.00
2109.00
2177.00
2305.00
2393.00
2361.00
2580.00
2911.00
3008.00
3324.00
4787.00
4612.00
3688.00
3843.00
6.71%4.20%Assets (Total)
$15668.00
16548.00
17662.00
18753.00
18888.00
20386.00
21843.00
21935.00
25408.00
27542.00
31387.00
29736.00
32769.00
30474.00
33727.00
6.34%10.67%Insurance Liabilities
$8186.00
8317.00
8677.00
9064.00
9502.00
10063.00
10406.00
11002.00
11770.00
12621.00
13590.00
15148.00
16237.00
15642.00
16657.00
5.87%6.49%Debt (Non-current)
$925.00
931.00
939.00
876.00
856.00
846.00
851.00
866.00
885.00
899.00
897.00
891.00
874.00
895.00
873.00
-0.47%-2.46%Other Liabilities
$1502.00
1847.00
1976.00
2240.00
2103.00
2417.00
2343.00
2234.00
2889.00
3233.00
3795.00
3166.00
3560.00
3196.00
3543.00
7.46%10.86%Liabilities (Total)
$10613.00
11095.00
11592.00
12180.00
12461.00
13326.00
13600.00
14102.00
15544.00
16753.00
18282.00
19205.00
20671.00
19733.00
21073.00
5.71%6.79%Treasury Stock
$1220.00
1225.00
1290.00
1287.00
1308.00
1319.00
1387.00
1492.00
1544.00
1790.00
1921.00
2324.00
2385.00
2345.00
2459.00
5.75%4.86%Retained Earnings
$3885.00
4021.00
4268.00
4505.00
4762.00
5037.00
5180.00
7625.00
9257.00
10085.00
12625.00
11702.00
13084.00
11818.00
13712.00
10.65%16.03%AOCI
$901.00
1129.00
1504.00
1744.00
1344.00
1693.00
2788.00
22.00
448.00
769.00
648.00
-636.00
-435.00
-527.00
-442.00
16.13%Shareholder's Equity
$5055.00
5453.00
6070.00
6573.00
6427.00
7060.00
8243.00
7833.00
9864.00
10789.00
13105.00
10531.00
12098.00
10741.00
12654.00
7.54%17.81%Liabilities & Equity
$15668.00
16548.00
17662.00
18753.00
18888.00
20386.00
21843.00
21935.00
25408.00
27542.00
31387.00
29736.00
32769.00
30474.00
33727.00
6.34%10.67%Net Income/Loss
$166.00
421.00
517.00
525.00
634.00
591.00
1045.00
287.00
1997.00
1216.00
2946.00
-486.00
1843.00
225.00
755.00
22.21%235.56%Depreciation & Amortization
$42.00
44.00
50.00
51.00
52.00
48.00
55.00
63.00
72.00
81.00
93.00
Increase/Decrease in Working Capital
$-63.00
-129.00
-231.00
-327.00
-368.00
-479.00
-470.00
-395.00
-362.00
-835.00
-740.00
-1230.00
-937.00
-41.00
-24.00
41.46%Share-based Compensation
$13.00
16.00
18.00
19.00
20.00
23.00
26.00
28.00
30.00
31.00
33.00
Adjustments to Reconcile Net Income
$82.00
217.00
279.00
348.00
430.00
512.00
7.00
894.00
-789.00
275.00
-965.00
2538.00
209.00
25.00
-402.00
8.11%-1708.00%Net Cash (Operating)
$247.00
638.00
796.00
873.00
1064.00
1103.00
1052.00
1181.00
1208.00
1491.00
1981.00
2052.00
2052.00
250.00
353.00
19.30%41.20%Capital Expenditure
$7.00
6.00
7.00
9.00
10.00
13.00
16.00
20.00
24.00
20.00
15.00
15.00
18.00
4.00
7.00
8.19%75.00%Net Cash (Investing)
$-8.00
-304.00
-509.00
-311.00
-624.00
-456.00
-558.00
-451.00
-679.00
-560.00
-1057.00
-933.00
-1608.00
-362.00
-355.00
1.93%Increase/Decrease in Debt
$106.00
-27.00
-42.00
-112.00
-79.00
-75.00
-81.00
-91.00
-81.00
-59.00
-61.00
-78.00
-160.00
-38.00
-41.00
-7.89%Increase/Decrease in Equity
$-31.00
10.00
-27.00
1.00
-29.00
-18.00
-79.00
-116.00
-56.00
-261.00
-131.00
-400.00
-58.00
-20.00
-72.00
-260.00%Interest Expenses
$53.00
54.00
53.00
53.00
52.00
52.00
52.00
53.00
53.00
53.00
52.00
53.00
54.00
1.00
0.16%Dividends Paid
$255.00
256.00
263.00
278.00
366.00
306.00
400.00
336.00
355.00
375.00
395.00
423.00
454.00
106.00
116.00
4.92%9.43%Net Cash (Financing)
$-186.00
-285.00
-341.00
-404.00
-487.00
-414.00
-614.00
-603.00
-546.00
-798.00
-685.00
-994.00
-801.00
-197.00
-286.00
-45.18%Cash Taxes Paid
$51.00
38.00
222.00
154.00
245.00
213.00
60.00
98.00
34.00
84.00
257.00
165.00
136.00
76.00
106.00
8.52%39.47%Increase/Decrease in Cash
$53.00
49.00
-54.00
158.00
-47.00
233.00
-120.00
127.00
-17.00
133.00
239.00
125.00
-357.00
-309.00
-288.00
6.80%Cash (Beginning)
$385.00
438.00
487.00
433.00
591.00
544.00
777.00
657.00
784.00
767.00
900.00
1139.00
1264.00
1264.00
907.00
10.41%-28.24%Cash (Ending)
$438.00
487.00
433.00
591.00
544.00
777.00
657.00
784.00
767.00
900.00
1139.00
1264.00
907.00
955.00
619.00
6.25%-35.18%NOPAT
$125.00
528.00
492.00
567.00
636.00
599.00
1045.00
287.00
2438.00
1415.00
3413.00
-900.00
2140.00
192.00
847.00
26.70%341.15%Operating Margin %
4.63%
13.77%
15.76%
14.58%
17.13%
14.90%
12.74%
4.64%
31.20%
19.89%
38.11%
-10.57%
22.73%
11.96%
32.47%
NOPAT Margin %
3.29%
12.84%
10.86%
11.47%
12.37%
10.99%
18.23%
5.31%
30.77%
18.78%
35.44%
-13.73%
21.37%
8.57%
28.86%
Net Margin %
4.36%
10.24%
11.41%
10.62%
12.33%
10.85%
18.23%
5.31%
25.20%
16.14%
30.59%
-7.41%
18.41%
10.04%
25.72%
Tax Rate %
28.98%
6.71%
31.09%
21.36%
27.81%
26.23%
-43.15%
-14.34%
1.38%
5.60%
7.00%
-29.87%
5.98%
28.36%
11.12%
ROA
0.80%
3.19%
2.79%
3.02%
3.37%
2.94%
4.78%
1.31%
9.60%
5.14%
10.87%
-3.03%
6.53%
0.63%
2.51%
ROE
2.47%
9.68%
8.11%
8.63%
9.90%
8.48%
12.68%
3.66%
24.72%
13.12%
26.04%
-8.55%
17.69%
1.79%
6.69%
ROIC
55.07%
243.32%
234.29%
292.27%
343.78%
327.32%
564.86%
147.18%
1177.78%
664.32%
1664.88%
-445.54%
1028.85%
96.48%
401.42%
Asset Turnover
0.24
0.25
0.26
0.26
0.27
0.27
0.26
0.25
0.31
0.27
0.31
0.22
0.31
0.07
0.09
Equity Multiplier
3.10
3.03
2.91
2.85
2.94
2.89
2.65
2.80
2.58
2.55
2.40
2.82
2.71
2.84
2.67
Debt/Equity Ratio
0.18
0.17
0.15
0.13
0.13
0.12
0.10
0.11
0.09
0.08
0.07
0.08
0.07
0.08
0.07
Interest Coverage Ratio
3.32
10.48
13.47
13.60
16.94
15.62
14.04
4.74
46.64
28.28
70.58
-13.08
42.15
268.00
Dividend Payout Ratio %
204.00%
48.48%
53.46%
49.03%
57.55%
51.09%
38.28%
117.07%
14.56%
26.50%
11.57%
47.00%
21.21%
55.21%
13.70%
Total Payout
$233.00
327.00
385.00
442.00
526.00
451.00
612.00
596.00
545.00
748.00
639.00
954.00
726.00
165.00
229.00
9.93%38.79%Payout Ratio %
186.40%
61.93%
78.25%
77.95%
82.70%
75.29%
58.56%
207.67%
22.35%
52.86%
18.72%
106.00%
33.93%
85.94%
27.04%