American Financial Group, Inc. (AFG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AFG SEC filings page.
American Financial Group, Inc. (AFG) reported $8.3B in revenue over the twelve months to Jun 30, 2026, down 0.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
American Financial Group converts reported earnings into cash, but returns have gradually weakened as assets and liabilities expanded.
The important shift is weaker returns despite a larger balance sheet: by FY2025, operating margin was13.1% and ROA was2.6% , versus materially higher levels in FY2021. That pairing indicates the added asset base produced less profit per dollar, not merely that one year's revenue moved.
Reported profit and cash generation agree directionally in FY2025, but their relationship is volatile: operating cash flow reached
The financing model remains liability-led: FY2025 liabilities were
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of American Financial Group, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. American Financial Group, Inc. scores 55/100 on it among other insurers.
American Financial Group, Inc. reported revenue of $8.2B in fiscal year 2025, against $8.3B in fiscal year 2024. Premium Growth ranks insurers on the three-year path of the premiums they write rather than on total revenue, and American Financial Group, Inc. scores 32/100 among other insurers.
American Financial Group, Inc. funded 14.8% of its assets with shareholders' equity at the end of fiscal year 2025, holding $4.8B of equity against $32.6B of assets. Capital ranks insurers on that cushion, and American Financial Group, Inc. scores 24/100 among other insurers.
Not available for American Financial Group, Inc., and counted as zero in the overall score.
Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. American Financial Group, Inc. scores 40/100 on it among other insurers.
American Financial Group, Inc. reported net income of $842.0M in fiscal year 2025, against $887.0M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and American Financial Group, Inc. scores 69/100 among other insurers.
American Financial Group, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, American Financial Group, Inc. generates $1.82 in operating cash flow ($1.5B OCF vs $842.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
American Financial Group, Inc. earns $13.41 in operating income for every $1 of interest expense ($1.1B vs $80.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
American Financial Group, Inc. generated $2.0B in revenue in Q2 2026. This represents an increase of 5.5% from the same quarter a year earlier. Against the prior quarter it is up 9.5%.
American Financial Group, Inc.'s EBITDA was $340.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.5% from the same quarter a year earlier. Against the prior quarter it is up 28.8%.
American Financial Group, Inc. reported $248.0M in net income in Q2 2026. This represents an increase of 42.5% from the same quarter a year earlier. Against the prior quarter it is up 29.8%.
American Financial Group, Inc. earned $2.99 per diluted share (EPS) in Q2 2026. This represents an increase of 44.4% from the same quarter a year earlier. Against the prior quarter it is up 30.6%.
Cash & Balance Sheet
American Financial Group, Inc. held $1.4B in cash against $1.8B in long-term debt as of Q2 2026.
American Financial Group, Inc. paid $0.88 per share in dividends in Q2 2026. This represents an increase of 10.0% from the same quarter a year earlier. Against the prior quarter it is down 63.0%.
Not reported for Q2 2026.
Margins & Returns
American Financial Group, Inc.'s operating margin was 15.6% in Q2 2026, reflecting core business profitability. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.7 percentage points.
American Financial Group, Inc.'s net profit margin was 12.2% in Q2 2026, showing the share of revenue converted to profit. This is up 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.
American Financial Group, Inc.'s ROE was 5.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Not reported for Q2 2026.
Capital Allocation
American Financial Group, Inc. spent $26.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 33.3% from the same quarter a year earlier. Against the prior quarter it is down 56.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
AFG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B+5.5% | $1.9B-0.1% | $2.1B-4.0% | $2.3B-1.6% | $1.9B+1.3% | $1.9B-2.6% | $2.1B+3.2% | $2.4B+9.5% |
| SG&A Expenses | $560.0M+4.9% | $556.0M+4.9% | $466.0M-2.9% | $529.0M+2.1% | $534.0M+5.5% | $530.0M+5.4% | $480.0M0.0% | $518.0M+4.2% |
| Operating Income | $316.0M+38.0% | $239.0M+21.3% | $379.0M+18.4% | $268.0M+17.0% | $229.0M-15.5% | $197.0M-35.2% | $320.0M-4.5% | $229.0M+4.6% |
| EBITDA | $340.0M+35.5% | $264.0M+20.5% | $401.0M+17.6% | $288.0M+15.2% | $251.0M-13.4% | $219.0M-32.4% | $341.0M-3.4% | $250.0M+4.2% |
| Interest Expense | $24.0M+26.3% | $23.0M+21.1% | $23.0M+21.1% | $19.0M0.0% | $19.0M0.0% | $19.0M0.0% | $19.0M0.0% | $19.0M0.0% |
| Income Tax | $68.0M+23.6% | $48.0M+11.6% | $80.0M+23.1% | $53.0M+10.4% | $55.0M-11.3% | $43.0M-30.6% | $65.0M-9.7% | $48.0M+14.3% |
| Net Income | $248.0M+42.5% | $191.0M+24.0% | $299.0M+17.3% | $215.0M+18.8% | $174.0M-16.7% | $154.0M-36.4% | $255.0M-3.0% | $181.0M+2.3% |
| EPS (Basic) | $2.99+44.4% | $2.29+24.5% | $3.58+18.2% | $2.58+19.4% | $2.07-16.9% | $1.84-36.3% | $3.03-3.2% | $2.16+2.9% |
| EPS (Diluted) | $2.99+44.4% | $2.29+24.5% | $3.58+18.2% | $2.58+19.4% | $2.07-16.9% | $1.84-36.3% | $3.03-2.9% | $2.16+3.3% |
| Diluted Shares (Avg) | 83M-0.6% | 83M-0.6% | N/A | 83M-0.6% | 84M-0.5% | 84M0.0% | N/A | 84M-0.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
AFG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $33.0B+7.7% | $32.4B+6.8% | $32.6B+5.9% | $33.8B+3.8% | $30.7B+2.5% | $30.3B+1.0% | $30.8B+3.5% | $32.6B+5.7% |
| Cash & Equivalents | $1.4B+13.4% | $1.4B+6.0% | $1.7B+22.8% | $1.8B+39.3% | $1.3B+13.1% | $1.3B+17.4% | $1.4B+14.8% | $1.3B+8.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $327.0M+7.2% | $327.0M+7.2% | $327.0M+7.2% | $327.0M+7.2% | $305.0M0.0% | $305.0M0.0% | $305.0M0.0% | $305.0M0.0% |
| Total Liabilities | $28.2B+7.9% | $27.7B+6.8% | $27.8B+5.5% | $29.1B+4.4% | $26.2B+2.4% | $25.9B+0.5% | $26.4B+3.3% | $27.9B+3.9% |
| Long-Term Debt | $1.8B+23.4% | $1.8B+23.3% | $1.8B+23.4% | $1.8B+23.4% | $1.5B+0.1% | $1.5B+0.1% | $1.5B0.0% | $1.5B+0.1% |
| Total Equity | $4.8B+6.8% | $4.7B+6.5% | $4.8B+7.9% | $4.7B+0.5% | $4.5B+3.0% | $4.4B+3.6% | $4.5B+4.9% | $4.7B+18.3% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Retained Earnings.
AFG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $92.0M-51.8% | $474.0M+38.6% | $784.0M+16.3% | $216.0M-52.9% | $191.0M+317.0% | $342.0M+219.6% | $674.0M-10.8% | $459.0M-34.1% |
| Depreciation & Amortization | $24.0M+9.1% | $25.0M+13.6% | $22.0M+4.8% | $20.0M-4.8% | $22.0M+15.8% | $22.0M+10.0% | $21.0M+16.7% | $21.0M0.0% |
| Investing Cash Flow | $31.0M-13.9% | -$613.0M-2765.2% | -$764.0M-3538.1% | -$130.0M-206.6% | $36.0M-75.8% | $23.0M+114.8% | -$21.0M+53.3% | $122.0M+34.1% |
| Financing Cash Flow | -$38.0M+83.8% | -$235.0M+52.5% | -$135.0M+76.3% | $488.0M+228.4% | -$235.0M-770.4% | -$495.0M-450.0% | -$569.0M+19.5% | -$380.0M+31.4% |
| Dividends Paid | $73.0M+7.4% | $198.0M-15.0% | $239.0M-40.7% | $66.0M+13.8% | $68.0M+15.3% | $233.0M-13.1% | $403.0M+116.7% | $58.0M+11.5% |
| Share Buybacks | $26.0M-33.3% | $60.0M+3.4% | $1.0M | $1.0M | $39.0M | $58.0M | $0-100.0% | $0-100.0% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.
AFG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 15.6%+3.7pp | 12.9%+2.3pp | 18.4%+3.5pp | 11.5%+1.8pp | 11.9%-2.4pp | 10.6%-5.3pp | 14.9%-1.2pp | 9.7%-0.5pp |
| Net Margin | 12.2%+3.2pp | 10.3%+2.0pp | 14.5%+2.6pp | 9.2%+1.6pp | 9.0%-2.0pp | 8.3%-4.4pp | 11.9%-0.8pp | 7.6%-0.5pp |
| Return on Equity | 5.1%+1.3pp | 4.1%+0.6pp | 6.2%+0.5pp | 4.5%+0.7pp | 3.9%-0.9pp | 3.5%-2.2pp | 5.7%-0.5pp | 3.8%-0.6pp |
| Return on Assets | 0.8%+0.2pp | 0.6%+0.1pp | 0.9%+0.1pp | 0.6%+0.1pp | 0.6%-0.1pp | 0.5%-0.3pp | 0.8%-0.1pp | 0.6%0.0pp |
| Debt-to-Equity | 0.38+0.1x | 0.39+0.1x | 0.380.0x | 0.38+0.1x | 0.330.0x | 0.340.0x | 0.330.0x | 0.31-0.1x |
| Asset Turnover | 0.060.0x | 0.060.0x | 0.060.0x | 0.070.0x | 0.060.0x | 0.060.0x | 0.070.0x | 0.070.0x |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| American Financial Group, Inc. AFG | FY2025 | $8.2B | $842.0M | 10.3% | $12.1B | 37/100 |
| CNA Financial Corporation CNA | FY2025 | $15.0B | $1.3B | 8.5% | $12.6B | 35/100 |
| Assurant, Inc. AIZ | FY2025 | $12.8B | $872.7M | 6.8% | $13.4B | 36/100 |
| Kinsale Capital Group, Inc. KNSL | FY2025 | $1.9B | $503.6M | 26.9% | $7.7B | 59/100 |
| Old Republic International Corporation ORI | FY2025 | $9.1B | $935.4M | 10.2% | $9.2B | 49/100 |
| Markel Group Inc. MKL | FY2025 | $15.5B | $2.1B | 13.6% | $22.2B | 24/100 |
Where American Financial Group, Inc. Ranks
Frequently Asked Questions
What is American Financial Group, Inc.'s annual revenue?
American Financial Group, Inc. (AFG) reported $8.2B in total revenue for fiscal year 2025. This represents a -1.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is American Financial Group, Inc.'s revenue growing?
American Financial Group, Inc. (AFG) revenue declined by 1.8% year-over-year, from $8.3B to $8.2B in fiscal year 2025.
Is American Financial Group, Inc. profitable?
Yes, American Financial Group, Inc. (AFG) reported a net income of $842.0M in fiscal year 2025, with a net profit margin of 10.3%.
What is American Financial Group, Inc.'s EBITDA?
American Financial Group, Inc. (AFG) had EBITDA of $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does American Financial Group, Inc. have?
As of fiscal year 2025, American Financial Group, Inc. (AFG) had $1.7B in cash and equivalents against $1.8B in long-term debt.
What is American Financial Group, Inc.'s operating margin?
American Financial Group, Inc. (AFG) had an operating margin of 13.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is American Financial Group, Inc.'s net profit margin?
American Financial Group, Inc. (AFG) had a net profit margin of 10.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does American Financial Group, Inc. pay dividends?
Yes, American Financial Group, Inc. (AFG) paid $7.28 per share in dividends during fiscal year 2025.
What is American Financial Group, Inc.'s return on equity (ROE)?
American Financial Group, Inc. (AFG) has a return on equity of 17.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is American Financial Group, Inc.'s operating cash flow?
American Financial Group, Inc. (AFG) generated $1.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are American Financial Group, Inc.'s total assets?
American Financial Group, Inc. (AFG) had $32.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is American Financial Group, Inc.'s debt-to-equity ratio?
American Financial Group, Inc. (AFG) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is American Financial Group, Inc.'s return on assets (ROA)?
American Financial Group, Inc. (AFG) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is American Financial Group, Inc.'s P/E ratio?
American Financial Group, Inc. (AFG) trades at 12.7x earnings, its market capitalization divided by net income of $953.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $12.1B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is American Financial Group, Inc.'s price-to-sales ratio?
American Financial Group, Inc. (AFG) trades at 1.5x sales, its market capitalization divided by revenue of $8.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $12.1B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is American Financial Group, Inc.'s Piotroski F-Score?
American Financial Group, Inc. (AFG) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are American Financial Group, Inc.'s earnings high quality?
American Financial Group, Inc. (AFG) has an earnings quality ratio of 1.82x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can American Financial Group, Inc. cover its interest payments?
American Financial Group, Inc. (AFG) has an interest coverage ratio of 13.41x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is American Financial Group, Inc.?
American Financial Group, Inc. (AFG) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.