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Stocks · Financials · Fire, Marine & Casualty Insurance

AMERICAN FINANCIAL GROUP INC

AFG Clue Score42
United States Fiscal year ends December CIK 0001042046
$141.08 -0.63% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $141.08 +4.41% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue6.50Operating income0.79Net income0.65EPS, diluted7.33Fiscal year 2017Revenue6.87 +5.6%Operating income0.72Net income0.48 −26.8%EPS, diluted5.28 −28.0%Fiscal year 2018Revenue7.15 +4.2%Operating income0.64Net income0.53 +11.6%EPS, diluted5.85 +10.8%Fiscal year 2019Revenue6.21 −13.1%Operating income0.63Net income0.90 +69.2%EPS, diluted9.85 +68.4%Fiscal year 2020Revenue5.77 −7.1%Operating income0.34Net income0.73 −18.4%EPS, diluted8.20 −16.8%Fiscal year 2021Revenue6.55 +13.6%Operating income1.34Net income2.00 +172.5%EPS, diluted23.30 +184.1%Fiscal year 2022Revenue7.04 +7.4%Operating income1.12Net income0.90 −55.0%EPS, diluted10.53 −54.8%Fiscal year 2023Revenue7.83 +11.2%Operating income1.07Net income0.85 −5.1%EPS, diluted10.05 −4.6%Fiscal year 2024Revenue8.32 +6.3%Operating income1.12Net income0.89 +4.1%EPS, diluted10.57 +5.2%Fiscal year 2025Revenue8.17 −1.8%Operating income1.07Net income0.84 −5.1%EPS, diluted10.08 −4.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.50 6.87 7.15 6.21 5.77 6.55 7.04 7.83 8.32 8.17
Growth +5.6% +4.2% −13.1% −7.1% +13.6% +7.4% +11.2% +6.3% −1.8%
Operating income 0.79 0.72 0.64 0.63 0.34 1.34 1.12 1.07 1.12 1.07
Net income 0.65 0.48 0.53 0.90 0.73 2.00 0.90 0.85 0.89 0.84
Growth −26.8% +11.6% +69.2% −18.4% +172.5% −55.0% −5.1% +4.1% −5.1%
EPS, diluted 7.33 5.28 5.85 9.85 8.20 23.30 10.53 10.05 10.57 10.08
Growth −28.0% +10.8% +68.4% −16.8% +184.1% −54.8% −4.6% +5.2% −4.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin12.1%Net margin10.0%Fiscal year 2017Operating margin10.5%Net margin6.9%Fiscal year 2018Operating margin8.9%Net margin7.4%Fiscal year 2019Operating margin10.2%Net margin14.4%Fiscal year 2020Operating margin5.9%Net margin12.7%Fiscal year 2021Operating margin20.4%Net margin30.4%Fiscal year 2022Operating margin16.0%Net margin12.8%Fiscal year 2023Operating margin13.7%Net margin10.9%Fiscal year 2024Operating margin13.5%Net margin10.7%Fiscal year 2025Operating margin13.1%Net margin10.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 12.1% 10.5% 8.9% 10.2% 5.9% 20.4% 16.0% 13.7% 13.5% 13.1%
Net margin 10.0% 6.9% 7.4% 14.4% 12.7% 30.4% 12.8% 10.9% 10.7% 10.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow1.15Buybacks−0.13Dividends paid−0.19Fiscal year 2017Operating cash flow1.80Buybacks0.00Dividends paid−0.42Fiscal year 2018Operating cash flow2.08Buybacks−0.01Dividends paid−0.39Fiscal year 2019Operating cash flow2.46Buybacks0.00Dividends paid−0.44Fiscal year 2020Operating cash flow2.18Buybacks−0.31Dividends paid−0.33Fiscal year 2021Operating cash flow1.71Buybacks−0.32Dividends paid−2.37Fiscal year 2022Operating cash flow1.15Buybacks−0.01Dividends paid−1.21Fiscal year 2023Operating cash flow1.97Buybacks−0.21Dividends paid−0.68Fiscal year 2024Operating cash flow1.15Buybacks0.00Dividends paid−0.79Fiscal year 2025Operating cash flow1.53Buybacks−0.10Dividends paid−0.61
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.15 1.80 2.08 2.46 2.18 1.71 1.15 1.97 1.15 1.53
Buybacks −0.13 0.00 −0.01 0.00 −0.31 −0.32 −0.01 −0.21 0.00 −0.10
Dividends paid −0.19 −0.42 −0.39 −0.44 −0.33 −2.37 −1.21 −0.68 −0.79 −0.61

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.11Total debt1.28Net cash (debt)0.82Shareholders’ equity4.92Debt to equity0.26Fiscal year 2017Cash2.34Total debt1.30Net cash (debt)1.04Shareholders’ equity5.33Debt to equity0.24Fiscal year 2018Cash1.52Total debt1.30Net cash (debt)0.21Shareholders’ equity4.97Debt to equity0.26Fiscal year 2019Cash2.31Total debt1.47Net cash (debt)0.84Shareholders’ equity6.27Debt to equity0.23Fiscal year 2020Cash1.67Total debt1.96Net cash (debt)−0.30Shareholders’ equity6.79Debt to equity0.29Fiscal year 2021Cash2.13Total debt1.96Net cash (debt)0.17Shareholders’ equity5.01Debt to equity0.39Fiscal year 2022Cash0.87Total debt1.50Net cash (debt)−0.62Shareholders’ equity4.05Debt to equity0.37Fiscal year 2023Cash1.23Total debt1.48Net cash (debt)−0.25Shareholders’ equity4.26Debt to equity0.35Fiscal year 2024Cash1.41Total debt1.48Net cash (debt)−0.07Shareholders’ equity4.47Debt to equity0.33Fiscal year 2025Cash1.73Total debt1.82Net cash (debt)−0.09Shareholders’ equity4.82Debt to equity0.38
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.11 2.34 1.52 2.31 1.67 2.13 0.87 1.23 1.41 1.73
Total debt 1.28 1.30 1.30 1.47 1.96 1.96 1.50 1.48 1.48 1.82
Net cash (debt) 0.82 1.04 0.21 0.84 −0.30 0.17 −0.62 −0.25 −0.07 −0.09
Shareholders’ equity 4.92 5.33 4.97 6.27 6.79 5.01 4.05 4.26 4.47 4.82
Debt to equity 0.26 0.24 0.26 0.23 0.29 0.39 0.37 0.35 0.33 0.38

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
6.50 6.87 7.15 6.21 5.77 6.55 7.04 7.83 8.32 8.17
Growth +5.6% +4.2% −13.1% −7.1% +13.6% +7.4% +11.2% +6.3% −1.8%
n/a n/a n/a n/a 1.63 1.55 1.72 1.94 2.01 2.06
0.79 0.72 0.64 0.63 0.34 1.34 1.12 1.07 1.12 1.07
Growth −8.0% −11.7% −0.8% −46.5% +293.8% −15.9% −4.5% +4.8% −4.5%
0.79 0.72 0.64 1.11 0.85 n/a n/a n/a n/a n/a
0.12 0.25 0.12 0.14 0.03 0.25 0.23 0.22 0.24 0.23
0.65 0.48 0.53 0.90 0.73 2.00 0.90 0.85 0.89 0.84
Growth −26.8% +11.6% +69.2% −18.4% +172.5% −55.0% −5.1% +4.1% −5.1%
Per share
7.47 5.40 5.95 9.98 8.25 23.44 10.55 10.06 10.57 10.08
7.33 5.28 5.85 9.85 8.20 23.30 10.53 10.05 10.57 10.08
Growth −28.0% +10.8% +68.4% −16.8% +184.1% −54.8% −4.6% +5.2% −4.6%
86.9 87.8 89.0 89.9 88.7 85.1 85.1 84.7 83.9 83.5
88.5 89.8 90.6 91.0 89.2 85.6 85.3 84.8 83.9 83.5
Growth +1.5% +0.9% +0.4% −2.0% −4.0% −0.4% −0.6% −1.1% −0.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.2% a year over five years, and earnings per share grew 4.2% a year.
  • The diluted share count fell 6.4% in five years, so buybacks did some of the work per share.
  • Operating margin is up 7.3 points on five years ago, at 13.1%.
  • Profitable in every one of the 10 years on file.