What is American Financial Group's earnings per share (EPS)?

American Financial Group (AFGD) reported diluted earnings per share of $10.08 for fiscal year 2025. This represents a -4.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

American Financial Group Financials

AFGD

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows American Financial Group (AFGD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).

Financial Health Signals

Financial Profile 56/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

American Financial Group has an operating margin of 13.1%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 51/100, indicating healthy but not exceptional operating efficiency. This is down from 13.5% the prior year.

Growth

American Financial Group's revenue declined 1.8% year-over-year, from $8.3B to $8.2B. This contraction results in a growth score of 30/100.

Leverage

American Financial Group carries a low D/E ratio of 0.38, meaning only $0.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Returns

American Financial Group's ROE of 17.5% shows moderate profitability relative to equity, earning a score of 50/100. This is down from 19.9% the prior year.

Piotroski F-Score Neutral

4/9

American Financial Group passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.82x

For every $1 of reported earnings, American Financial Group 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.

Interest Coverage Safe

13.4x

American Financial Group earns $13.4 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

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Earnings & Revenue

Revenue

$8.2B

YoY-1.8%

5Y CAGR+7.2%

10Y CAGR+2.9%

American Financial Group generated $8.2B in revenue in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

EBITDA

$1.2B

YoY-3.8%

5Y CAGR+12.7%

10Y CAGR+5.2%

American Financial Group's EBITDA was $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.8% from the prior year.

Net Income

$842.0M

YoY-5.1%

5Y CAGR+2.8%

10Y CAGR+9.1%

American Financial Group reported $842.0M in net income in fiscal year 2025. This represents a decrease of 5.1% from the prior year.

EPS (Diluted)

$10.08

YoY-4.6%

5Y CAGR+4.2%

10Y CAGR+9.8%

American Financial Group earned $10.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 4.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.7B

YoY+22.8%

5Y CAGR+0.7%

10Y CAGR+3.5%

American Financial Group held $1.7B in cash against $1.8B in long-term debt as of fiscal year 2025.

Dividends Per Share

$7.28

YoY-22.8%

5Y CAGR+13.6%

10Y CAGR+13.6%

American Financial Group paid $7.28 per share in dividends in fiscal year 2025. This represents a decrease of 22.8% from the prior year.

Shares Outstanding

83M

YoY-0.8%

5Y CAGR-0.7%

10Y CAGR-0.4%

American Financial Group had 83M shares outstanding in fiscal year 2025. This represents a decrease of 0.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

13.1%

YoY-0.4pp

5Y CAGR+7.3pp

10Y CAGR+3.9pp

American Financial Group's operating margin was 13.1% in fiscal year 2025, reflecting core business profitability. This is down 0.4 percentage points from the prior year.

Net Margin

10.3%

YoY-0.4pp

5Y CAGR-2.4pp

10Y CAGR+4.6pp

American Financial Group's net profit margin was 10.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity

17.5%

YoY-2.4pp

5Y CAGR+6.7pp

10Y CAGR+9.8pp

American Financial Group's ROE was 17.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$99.0M

5Y CAGR-20.6%

10Y CAGR-2.4%

American Financial Group spent $99.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

AFGD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.2B-1.8%	$8.3B+6.3%	$7.8B+11.2%	$7.0B+7.4%	$6.6B+13.6%	$5.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.1B+2.6%	$2.0B+3.7%	$1.9B+12.6%	$1.7B+11.1%	$1.5B-4.8%	$1.6B
Operating Income	$1.1B-4.5%	$1.1B+4.8%	$1.1B-4.5%	$1.1B-15.9%	$1.3B+293.8%	$339.0M
Interest Expense	$80.0M+5.3%	$76.0M0.0%	$76.0M-10.6%	$85.0M-9.6%	$94.0M+6.8%	$88.0M
Income Tax	$231.0M-2.5%	$237.0M+7.2%	$221.0M-1.8%	$225.0M-11.4%	$254.0M+916.0%	$25.0M
Net Income	$842.0M-5.1%	$887.0M+4.1%	$852.0M-5.1%	$898.0M-55.0%	$2.0B+172.5%	$732.0M
EPS (Diluted)	$10.08-4.6%	$10.57+5.2%	$10.05-4.6%	$10.53-54.8%	$23.30+184.1%	$8.20

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.1B-11.5%	$2.3B+21.2%	$1.9B+3.7%	$1.9B-13.6%	$2.1B-9.3%	$2.4B+24.7%	$1.9B-0.3%	$1.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$466.0M-11.9%	$529.0M-0.9%	$534.0M+0.8%	$530.0M+10.4%	$480.0M-7.3%	$518.0M+2.4%	$506.0M+0.6%	$503.0M
Operating Income	$379.0M+41.4%	$268.0M+17.0%	$229.0M+16.2%	$197.0M-38.4%	$320.0M+39.7%	$229.0M-15.5%	$271.0M-10.9%	$304.0M
Interest Expense	$23.0M+21.1%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M
Income Tax	$80.0M+50.9%	$53.0M-3.6%	$55.0M+27.9%	$43.0M-33.8%	$65.0M+35.4%	$48.0M-22.6%	$62.0M0.0%	$62.0M
Net Income	$299.0M+39.1%	$215.0M+23.6%	$174.0M+13.0%	$154.0M-39.6%	$255.0M+40.9%	$181.0M-13.4%	$209.0M-13.6%	$242.0M
EPS (Diluted)	N/A	$2.58+24.6%	$2.07+12.5%	$1.84	N/A	$2.16-13.3%	$2.49-13.8%	$2.89

AFGD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$32.6B+5.9%	$30.8B+3.5%	$29.8B+3.3%	$28.8B-0.3%	$28.9B-60.8%	$73.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.7B+22.8%	$1.4B+14.8%	$1.2B+40.5%	$872.0M-59.1%	$2.1B+28.0%	$1.7B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$327.0M+7.2%	$305.0M0.0%	$305.0M+24.0%	$246.0M0.0%	$246.0M+39.8%	$176.0M
Total Liabilities	$27.8B+5.5%	$26.4B+3.3%	$25.5B+3.0%	$24.8B+3.6%	$23.9B-64.3%	$66.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.8B+23.4%	$1.5B0.0%	$1.5B-1.4%	$1.5B-23.8%	$2.0B+0.1%	$2.0B
Total Equity	$4.8B+7.9%	$4.5B+4.9%	$4.3B+5.1%	$4.1B-19.2%	$5.0B-26.2%	$6.8B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$32.6B-3.5%	$33.8B+10.3%	$30.7B+1.2%	$30.3B-1.8%	$30.8B-5.4%	$32.6B+9.0%	$29.9B-0.3%	$30.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.7B-6.2%	$1.8B+45.3%	$1.3B-0.6%	$1.3B-9.2%	$1.4B+6.4%	$1.3B+17.9%	$1.1B+3.1%	$1.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$327.0M0.0%	$327.0M+7.2%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M
Total Liabilities	$27.8B-4.4%	$29.1B+11.3%	$26.2B+1.0%	$25.9B-1.8%	$26.4B-5.4%	$27.9B+9.2%	$25.5B-0.9%	$25.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.8B0.0%	$1.8B+23.3%	$1.5B0.0%	$1.5B+0.1%	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B
Total Equity	$4.8B+1.9%	$4.7B+4.7%	$4.5B+2.8%	$4.4B-1.7%	$4.5B-5.1%	$4.7B+7.4%	$4.4B+3.4%	$4.2B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AFGD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.5B+33.1%	$1.2B-41.5%	$2.0B+70.9%	$1.2B-32.7%	$1.7B-21.5%	$2.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$835.0M-978.9%	$95.0M-77.1%	$414.0M+139.4%	-$1.1B-141.1%	-$436.0M+72.1%	-$1.6B
Financing Cash Flow	-$377.0M+64.6%	-$1.1B+47.5%	-$2.0B-49.2%	-$1.4B+30.5%	-$2.0B-1491.1%	-$123.0M
Dividends Paid	$606.0M-23.1%	$788.0M+15.2%	$684.0M-43.6%	$1.2B-48.9%	$2.4B+610.8%	$334.0M
Share Buybacks	$99.0M	$0-100.0%	$213.0M+1836.4%	$11.0M-96.6%	$319.0M+1.9%	$313.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$784.0M+263.0%	$216.0M+13.1%	$191.0M-44.2%	$342.0M-49.3%	$674.0M+46.8%	$459.0M+621.6%	-$88.0M-182.2%	$107.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$764.0M-487.7%	-$130.0M-461.1%	$36.0M+56.5%	$23.0M+209.5%	-$21.0M-117.2%	$122.0M-18.1%	$149.0M+196.1%	-$155.0M
Financing Cash Flow	-$135.0M-127.7%	$488.0M+307.7%	-$235.0M+52.5%	-$495.0M+13.0%	-$569.0M-49.7%	-$380.0M-1307.4%	-$27.0M+70.0%	-$90.0M
Dividends Paid	$239.0M+262.1%	$66.0M-2.9%	$68.0M-70.8%	$233.0M-42.2%	$403.0M+594.8%	$58.0M-1.7%	$59.0M-78.0%	$268.0M
Share Buybacks	$1.0M0.0%	$1.0M-97.4%	$39.0M-32.8%	$58.0M	$0	$0	$0	$0

AFGD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	13.1%-0.4pp	13.5%-0.2pp	13.7%-2.2pp	16.0%-4.4pp	20.4%+14.5pp	5.9%
Net Margin	10.3%-0.4pp	10.7%-0.2pp	10.9%-1.9pp	12.8%-17.7pp	30.4%+17.8pp	12.7%
Return on Equity	17.5%-2.4pp	19.9%-0.2pp	20.0%-2.1pp	22.2%-17.6pp	39.8%+29.0pp	10.8%
Return on Assets	2.6%-0.3pp	2.9%+0.0pp	2.9%-0.2pp	3.1%-3.8pp	6.9%+5.9pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.38+0.0	0.33-0.0	0.35-0.0	0.37-0.0	0.39+0.1	0.29
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	18.4%+6.9pp	11.5%-0.4pp	11.9%+1.3pp	10.6%-4.3pp	14.9%+5.2pp	9.7%-4.6pp	14.3%-1.7pp	16.0%
Net Margin	14.5%+5.3pp	9.2%+0.2pp	9.0%+0.7pp	8.3%-3.6pp	11.9%+4.2pp	7.6%-3.4pp	11.0%-1.7pp	12.7%
Return on Equity	6.2%+1.7pp	4.5%+0.7pp	3.9%+0.3pp	3.5%-2.2pp	5.7%+1.9pp	3.8%-0.9pp	4.8%-0.9pp	5.7%
Return on Assets	0.9%+0.3pp	0.6%+0.1pp	0.6%+0.1pp	0.5%-0.3pp	0.8%+0.3pp	0.6%-0.1pp	0.7%-0.1pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.380.0	0.38+0.1	0.330.0	0.340.0	0.33+0.0	0.31-0.0	0.34-0.0	0.35
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is American Financial Group's annual revenue?

American Financial Group (AFGD) 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's revenue growing?

American Financial Group (AFGD) revenue declined by 1.8% year-over-year, from $8.3B to $8.2B in fiscal year 2025.

Is American Financial Group profitable?

Yes, American Financial Group (AFGD) reported a net income of $842.0M in fiscal year 2025, with a net profit margin of 10.3%.

What is American Financial Group's EBITDA?

American Financial Group (AFGD) had EBITDA of $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does American Financial Group have?

As of fiscal year 2025, American Financial Group (AFGD) had $1.7B in cash and equivalents against $1.8B in long-term debt.

What is American Financial Group's operating margin?

American Financial Group (AFGD) 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's net profit margin?

American Financial Group (AFGD) 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 pay dividends?

Yes, American Financial Group (AFGD) paid $7.28 per share in dividends during fiscal year 2025.

What is American Financial Group's return on equity (ROE)?

American Financial Group (AFGD) 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's operating cash flow?

American Financial Group (AFGD) generated $1.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are American Financial Group's total assets?

American Financial Group (AFGD) had $32.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Does American Financial Group buy back shares?

Yes, American Financial Group (AFGD) spent $99.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does American Financial Group have outstanding?

American Financial Group (AFGD) had 83M shares outstanding as of fiscal year 2025.

What is American Financial Group's debt-to-equity ratio?

American Financial Group (AFGD) 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's return on assets (ROA)?

American Financial Group (AFGD) 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's Piotroski F-Score?

American Financial Group (AFGD) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are American Financial Group's earnings high quality?

American Financial Group (AFGD) 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 cover its interest payments?

American Financial Group (AFGD) has an interest coverage ratio of 13.4x, 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?

American Financial Group (AFGD) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.