American Financial Group Inc Financials

AFGE

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 73/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

American Financial Group Inc has an operating margin of 13.5%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is down from 13.7% the prior year.

Growth

American Financial Group Inc's revenue grew 6.3% year-over-year to $8.3B, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

American Financial Group Inc carries a low D/E ratio of 0.33, meaning only $0.33 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Returns

American Financial Group Inc earns a strong 19.9% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is down from 20.0% the prior year.

Piotroski F-Score Neutral

6/9

American Financial Group Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.30x

For every $1 of reported earnings, American Financial Group Inc generates $1.30 in operating cash flow ($1.2B OCF vs $887.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

14.8x

American Financial Group Inc earns $14.8 in operating income for every $1 of interest expense ($1.1B vs $76.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

This page shows American Financial Group Inc (AFGE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).

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Key Financial Metrics

Revenue

$8.3B

YoY+6.3%

5Y CAGR+6.0%

10Y CAGR+3.8%

American Financial Group Inc generated $8.3B in revenue in fiscal year 2024. This represents an increase of 6.3% from the prior year.

EBITDA

$1.2B

YoY+4.7%

5Y CAGR+6.2%

10Y CAGR+4.6%

American Financial Group Inc's EBITDA was $1.2B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.7% from the prior year.

Free Cash Flow

N/A

Net Income

$887.0M

YoY+4.1%

5Y CAGR-0.2%

10Y CAGR+7.0%

American Financial Group Inc reported $887.0M in net income in fiscal year 2024. This represents an increase of 4.1% from the prior year.

EPS (Diluted)

$10.57

YoY+5.2%

5Y CAGR+1.4%

10Y CAGR+7.8%

American Financial Group Inc earned $10.57 per diluted share (EPS) in fiscal year 2024. This represents an increase of 5.2% from the prior year.

Cash & Debt

$1.4B

YoY+14.8%

5Y CAGR-9.5%

10Y CAGR+0.5%

American Financial Group Inc held $1.4B in cash against $1.5B in long-term debt as of fiscal year 2024.

Dividends Per Share

$9.43

YoY+16.4%

5Y CAGR+13.8%

10Y CAGR+17.3%

American Financial Group Inc paid $9.43 per share in dividends in fiscal year 2024. This represents an increase of 16.4% from the prior year.

Shares Outstanding

84M

YoY+0.4%

5Y CAGR-1.4%

10Y CAGR-0.4%

American Financial Group Inc had 84M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

13.5%

YoY-0.2pp

5Y CAGR+3.3pp

10Y CAGR+2.6pp

American Financial Group Inc's operating margin was 13.5% in fiscal year 2024, reflecting core business profitability. This is down 0.2 percentage points from the prior year.

Net Margin

10.7%

YoY-0.2pp

5Y CAGR-3.8pp

10Y CAGR+2.8pp

American Financial Group Inc's net profit margin was 10.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.

Return on Equity

19.9%

YoY-0.2pp

5Y CAGR+5.5pp

10Y CAGR+10.6pp

American Financial Group Inc's ROE was 19.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

YoY-100.0%

American Financial Group Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

AFGE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$8.3B+6.3%	$7.8B+11.2%	$7.0B+7.4%	$6.6B+13.6%	$5.8B-7.1%	$6.2B
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	$2.0B+3.7%	$1.9B+12.6%	$1.7B+11.1%	$1.5B-4.8%	$1.6B	N/A
Operating Income	$1.1B+4.8%	$1.1B-4.5%	$1.1B-15.9%	$1.3B+293.8%	$339.0M-46.5%	$634.0M
Interest Expense	$76.0M0.0%	$76.0M-10.6%	$85.0M-9.6%	$94.0M+6.8%	$88.0M+29.4%	$68.0M
Income Tax	$237.0M+7.2%	$221.0M-1.8%	$225.0M-11.4%	$254.0M+916.0%	$25.0M-82.5%	$143.0M
Net Income	$887.0M+4.1%	$852.0M-5.1%	$898.0M-55.0%	$2.0B+172.5%	$732.0M-18.4%	$897.0M
EPS (Diluted)	$10.57+5.2%	$10.05-4.6%	$10.53-54.8%	$23.30+184.1%	$8.20-16.8%	$9.85

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$2.3B+21.2%	$1.9B+3.7%	$1.9B-13.6%	$2.1B+13.1%	$1.9B-0.3%	$1.9B-8.5%	$2.1B-3.7%	$2.2B
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	$529.0M-0.9%	$534.0M+0.8%	$530.0M+10.4%	$480.0M-5.1%	$506.0M+0.6%	$503.0M+4.8%	$480.0M-3.4%	$497.0M
Operating Income	$268.0M+17.0%	$229.0M+16.2%	$197.0M-38.4%	$320.0M+18.1%	$271.0M-10.9%	$304.0M-9.3%	$335.0M+53.0%	$219.0M
Interest Expense	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M0.0%	$19.0M
Income Tax	$53.0M-3.6%	$55.0M+27.9%	$43.0M-33.8%	$65.0M+4.8%	$62.0M0.0%	$62.0M-13.9%	$72.0M+71.4%	$42.0M
Net Income	$215.0M+23.6%	$174.0M+13.0%	$154.0M-39.6%	$255.0M+22.0%	$209.0M-13.6%	$242.0M-8.0%	$263.0M+48.6%	$177.0M
EPS (Diluted)	$2.58+24.6%	$2.07+12.5%	$1.84-39.3%	$3.03+21.7%	$2.49-13.8%	$2.89-7.7%	$3.13+49.8%	$2.09

AFGE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$30.8B+3.5%	$29.8B+3.3%	$28.8B-0.3%	$28.9B-60.8%	$73.7B+5.1%	$70.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.4B+14.8%	$1.2B+40.5%	$872.0M-59.1%	$2.1B+28.0%	$1.7B-28.0%	$2.3B
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	$305.0M0.0%	$305.0M+24.0%	$246.0M0.0%	$246.0M+39.8%	$176.0M0.0%	$176.0M
Total Liabilities	$26.4B+3.3%	$25.5B+3.0%	$24.8B+3.6%	$23.9B-64.3%	$66.9B+4.8%	$63.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.5B0.0%	$1.5B-1.4%	$1.5B-23.8%	$2.0B+0.1%	$2.0B+33.3%	$1.5B
Total Equity	$4.5B+4.9%	$4.3B+5.1%	$4.1B-19.2%	$5.0B-26.2%	$6.8B+8.3%	$6.3B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$33.8B+10.3%	$30.7B+1.2%	$30.3B-1.8%	$30.8B+3.1%	$29.9B-0.3%	$30.0B+0.7%	$29.8B-3.4%	$30.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.8B+45.3%	$1.3B-0.6%	$1.3B-9.2%	$1.4B+25.4%	$1.1B+3.1%	$1.1B-11.3%	$1.2B+0.3%	$1.2B
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	$327.0M+7.2%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M0.0%	$305.0M
Total Liabilities	$29.1B+11.3%	$26.2B+1.0%	$25.9B-1.8%	$26.4B+3.3%	$25.5B-0.9%	$25.8B+0.9%	$25.5B-4.9%	$26.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.8B+23.3%	$1.5B0.0%	$1.5B+0.1%	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B+0.1%	$1.5B
Total Equity	$4.7B+4.7%	$4.5B+2.8%	$4.4B-1.7%	$4.5B+1.9%	$4.4B+3.4%	$4.2B-0.4%	$4.3B+7.0%	$4.0B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AFGE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$1.2B-41.5%	$2.0B+70.9%	$1.2B-32.7%	$1.7B-21.5%	$2.2B-11.1%	$2.5B
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	$95.0M-77.1%	$414.0M+139.4%	-$1.1B-141.1%	-$436.0M+72.1%	-$1.6B+49.0%	-$3.1B
Financing Cash Flow	-$1.1B+47.5%	-$2.0B-49.2%	-$1.4B+30.5%	-$2.0B-1491.1%	-$123.0M-108.7%	$1.4B
Dividends Paid	$788.0M+15.2%	$684.0M-43.6%	$1.2B-48.9%	$2.4B+610.8%	$334.0M-24.8%	$444.0M
Share Buybacks	$0-100.0%	$213.0M+1836.4%	$11.0M-96.6%	$319.0M+1.9%	$313.0M	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$216.0M+13.1%	$191.0M-44.2%	$342.0M-49.3%	$674.0M+865.9%	-$88.0M-182.2%	$107.0M-85.8%	$756.0M+8.6%	$696.0M
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	-$130.0M-461.1%	$36.0M+56.5%	$23.0M+209.5%	-$21.0M-114.1%	$149.0M+196.1%	-$155.0M-244.4%	-$45.0M-149.5%	$91.0M
Financing Cash Flow	$488.0M+307.7%	-$235.0M+52.5%	-$495.0M+13.0%	-$569.0M-2007.4%	-$27.0M+70.0%	-$90.0M+87.3%	-$707.0M-27.6%	-$554.0M
Dividends Paid	$66.0M-2.9%	$68.0M-70.8%	$233.0M-42.2%	$403.0M+583.1%	$59.0M-78.0%	$268.0M+44.1%	$186.0M+257.7%	$52.0M
Share Buybacks	$1.0M-97.4%	$39.0M-32.8%	$58.0M	$0	$0	$0-100.0%	$60.0M-30.2%	$86.0M

AFGE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	13.5%-0.2pp	13.7%-2.2pp	16.0%-4.4pp	20.4%+14.5pp	5.9%-4.3pp	10.2%
Net Margin	10.7%-0.2pp	10.9%-1.9pp	12.8%-17.7pp	30.4%+17.8pp	12.7%-1.7pp	14.4%
Return on Equity	19.9%-0.2pp	20.0%-2.1pp	22.2%-17.6pp	39.8%+29.0pp	10.8%-3.5pp	14.3%
Return on Assets	2.9%+0.0pp	2.9%-0.2pp	3.1%-3.8pp	6.9%+5.9pp	1.0%-0.3pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.33-0.0	0.35-0.0	0.37-0.0	0.39+0.1	0.29+0.1	0.23
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	11.5%-0.4pp	11.9%+1.3pp	10.6%-4.3pp	14.9%+0.6pp	14.3%-1.7pp	16.0%-0.1pp	16.1%+6.0pp	10.1%
Net Margin	9.2%+0.2pp	9.0%+0.7pp	8.3%-3.6pp	11.9%+0.9pp	11.0%-1.7pp	12.7%+0.1pp	12.6%+4.5pp	8.2%
Return on Equity	4.5%+0.7pp	3.9%+0.3pp	3.5%-2.2pp	5.7%+0.9pp	4.8%-0.9pp	5.7%-0.5pp	6.2%+1.7pp	4.5%
Return on Assets	0.6%+0.1pp	0.6%+0.1pp	0.5%-0.3pp	0.8%+0.1pp	0.7%-0.1pp	0.8%-0.1pp	0.9%+0.3pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.38+0.1	0.330.0	0.340.0	0.330.0	0.34-0.0	0.350.0	0.35-0.0	0.37
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 Inc's annual revenue?

American Financial Group Inc (AFGE) reported $8.3B in total revenue for fiscal year 2024. This represents a 6.3% 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 (AFGE) revenue grew by 6.3% year-over-year, from $7.8B to $8.3B in fiscal year 2024.

Is American Financial Group Inc profitable?

Yes, American Financial Group Inc (AFGE) reported a net income of $887.0M in fiscal year 2024, with a net profit margin of 10.7%.

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

American Financial Group Inc (AFGE) reported diluted earnings per share of $10.57 for fiscal year 2024. This represents a 5.2% 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.

What is American Financial Group Inc's EBITDA?

American Financial Group Inc (AFGE) had EBITDA of $1.2B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does American Financial Group Inc have?

As of fiscal year 2024, American Financial Group Inc (AFGE) had $1.4B in cash and equivalents against $1.5B in long-term debt.

What is American Financial Group Inc's operating margin?

American Financial Group Inc (AFGE) had an operating margin of 13.5% in fiscal year 2024, 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 (AFGE) had a net profit margin of 10.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does American Financial Group Inc pay dividends?

Yes, American Financial Group Inc (AFGE) paid $9.43 per share in dividends during fiscal year 2024.

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

American Financial Group Inc (AFGE) has a return on equity of 19.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is American Financial Group Inc's operating cash flow?

American Financial Group Inc (AFGE) generated $1.2B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are American Financial Group Inc's total assets?

American Financial Group Inc (AFGE) had $30.8B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does American Financial Group Inc have outstanding?

American Financial Group Inc (AFGE) had 84M shares outstanding as of fiscal year 2024.

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

American Financial Group Inc (AFGE) had a debt-to-equity ratio of 0.33 as of fiscal year 2024, 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 (AFGE) had a return on assets of 2.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is American Financial Group Inc's Piotroski F-Score?

American Financial Group Inc (AFGE) has a Piotroski F-Score of 6 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 Inc's earnings high quality?

American Financial Group Inc (AFGE) has an earnings quality ratio of 1.30x, 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 (AFGE) has an interest coverage ratio of 14.8x, 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 (AFGE) scores 73 out of 100 on our Financial Profile, indicating strong 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.