United Fire Group Inc Financials

UFCS

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

This page shows United Fire Group Inc (UFCS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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

Piotroski F-Score Neutral

5/9

United Fire Group Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

5.49x

For every $1 of reported earnings, United Fire Group Inc generates $5.49 in operating cash flow ($340.3M OCF vs $62.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$1.3B

YoY+14.4%

5Y CAGR+0.9%

10Y CAGR+2.9%

United Fire Group Inc generated $1.3B in revenue in fiscal year 2024. This represents an increase of 14.4% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$62.0M

YoY+308.6%

5Y CAGR+33.1%

10Y CAGR+0.5%

United Fire Group Inc reported $62.0M in net income in fiscal year 2024. This represents an increase of 308.6% from the prior year.

EPS (Diluted)

$2.39

YoY+302.5%

5Y CAGR+32.7%

10Y CAGR+0.3%

United Fire Group Inc earned $2.39 per diluted share (EPS) in fiscal year 2024. This represents an increase of 302.5% from the prior year.

Cash & Debt

$200.9M

YoY+96.9%

5Y CAGR+10.7%

10Y CAGR+11.7%

United Fire Group Inc held $200.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.64

YoY+0.0%

5Y CAGR-13.2%

10Y CAGR-2.0%

United Fire Group Inc paid $0.64 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

25M

YoY+0.4%

5Y CAGR+0.3%

10Y CAGR+0.1%

United Fire Group Inc had 25M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.9%

YoY+7.6pp

5Y CAGR+3.7pp

10Y CAGR-1.3pp

United Fire Group Inc's net profit margin was 4.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 7.6 percentage points from the prior year.

Return on Equity

7.9%

5Y CAGR+6.3pp

10Y CAGR+0.7pp

United Fire Group Inc's ROE was 7.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

UFCS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.3B+14.4%	$1.1B+11.7%	$980.3M-8.1%	$1.1B-0.2%	$1.1B-11.0%	$1.2B
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	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$7.3M+123.3%	$3.3M+2.3%	$3.2M0.0%	$3.2M	$0	$0
Income Tax	$15.1M+250.5%	-$10.0M-239.2%	-$3.0M-118.2%	$16.2M+128.6%	-$56.8M-2859.1%	$2.1M
Net Income	$62.0M+308.6%	-$29.7M-297.6%	$15.0M-81.3%	$80.6M+171.5%	-$112.7M-860.5%	$14.8M
EPS (Diluted)	$2.39+302.5%	$-1.18-300.0%	$0.59-81.3%	$3.16+170.2%	$-4.50-875.9%	$0.58

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$354.0M+5.5%	$335.5M+1.3%	$331.1M-0.6%	$333.2M+10.6%	$301.2M+1.7%	$296.0M+3.0%	$287.3M+4.9%	$274.0M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$3.1M+25.5%	$2.5M0.0%	$2.5M+0.1%	$2.5M+69.9%	$1.5M+70.0%	$859K-1.2%	$869K+9.0%	$797K
Income Tax	$9.5M+51.7%	$6.3M+50.6%	$4.2M-48.7%	$8.1M+882.9%	-$1.0M-137.2%	$2.8M-38.5%	$4.5M+126.6%	$2.0M
Net Income	$39.2M+70.8%	$22.9M+29.6%	$17.7M-43.7%	$31.4M+1249.6%	-$2.7M-120.3%	$13.5M-31.1%	$19.6M+207.3%	$6.4M
EPS (Diluted)	$1.49+71.3%	$0.87+29.9%	$0.67-45.1%	$1.22+1209.1%	$-0.11-121.2%	$0.52-32.5%	$0.77+208.0%	$0.25

UFCS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.5B+10.9%	$3.1B+9.1%	$2.9B-4.3%	$3.0B-1.9%	$3.1B+1.9%	$3.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$200.9M+96.9%	$102.0M+5.6%	$96.7M-26.8%	$132.1M+50.2%	$87.9M-27.1%	$120.7M
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	N/A	$0	$0	$0	$0-100.0%	$15.1M
Total Liabilities	$2.7B+12.3%	$2.4B+12.5%	$2.1B+0.4%	$2.1B-4.9%	$2.2B+6.7%	$2.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$781.5M+6.5%	$733.7M-0.9%	$740.1M-15.8%	$879.1M+6.5%	$825.1M-9.4%	$910.5M
Retained Earnings	$620.4M+8.0%	$574.7M-7.4%	$620.6M-0.1%	$621.4M+11.8%	$555.9M-20.3%	$697.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$3.8B+2.5%	$3.7B+3.8%	$3.5B+1.1%	$3.5B+2.3%	$3.4B+5.1%	$3.2B+3.2%	$3.1B+3.0%	$3.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$233.7M+15.6%	$202.1M+10.1%	$183.7M-8.6%	$200.9M+31.0%	$153.4M-29.5%	$217.8M+113.4%	$102.0M+47.6%	$69.2M
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	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A
Total Liabilities	$2.9B+1.4%	$2.8B+3.9%	$2.7B+0.1%	$2.7B+0.9%	$2.7B+6.9%	$2.5B+4.0%	$2.4B+0.1%	$2.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$898.7M+6.3%	$845.7M+3.4%	$817.7M+4.6%	$781.5M+7.6%	$726.6M-1.4%	$736.8M+0.4%	$733.7M+13.8%	$644.9M
Retained Earnings	$688.0M+5.4%	$653.0M+3.0%	$634.0M+2.2%	$620.4M+7.5%	$577.4M-1.2%	$584.1M+1.6%	$574.7M+2.8%	$559.1M

UFCS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$340.3M+98.2%	$171.7M+13827.9%	-$1.3M-104.2%	$29.9M-27.8%	$41.4M-55.8%	$93.8M
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	-$292.5M-95.1%	-$149.9M-681.8%	-$19.2M-160.4%	$31.7M+134.2%	-$92.9M-2163.3%	$4.5M
Financing Cash Flow	$51.1M+410.5%	-$16.5M-9.5%	-$15.0M+14.1%	-$17.5M-193.7%	$18.7M+144.4%	-$42.0M
Dividends Paid	$16.2M+0.3%	$16.2M+1.9%	$15.9M+5.3%	$15.1M-47.2%	$28.5M-12.7%	$32.7M
Share Buybacks	N/A	$0	$0-100.0%	$2.0M-26.8%	$2.7M-76.6%	$11.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$60.8M+14.0%	$53.4M+49.7%	$35.7M-77.2%	$156.3M+71.1%	$91.3M+152.6%	$36.2M+62.7%	$22.2M-80.1%	$111.6M
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	-$55.1M-81.4%	-$30.4M+37.0%	-$48.2M+67.8%	-$149.4M+31.6%	-$218.5M-360.5%	$83.9M+467.7%	$14.8M+112.5%	-$118.1M
Financing Cash Flow	$25.8M+665.3%	-$4.6M+4.8%	-$4.8M-45.3%	-$3.3M-105.3%	$62.8M+1559.4%	-$4.3M-4.7%	-$4.1M-1.5%	-$4.0M
Dividends Paid	$4.1M+0.1%	$4.1M+0.4%	$4.1M+0.1%	$4.1M+0.1%	$4.1M+0.2%	$4.0M+0.1%	$4.0M0.0%	$4.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

UFCS 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	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	4.9%+7.6pp	-2.7%-4.2pp	1.5%-6.0pp	7.6%+18.1pp	-10.5%-11.8pp	1.2%
Return on Equity	7.9%	N/A	2.0%-7.1pp	9.2%	N/A	1.6%
Return on Assets	1.8%+2.7pp	-0.9%-1.5pp	0.5%-2.2pp	2.7%+6.3pp	-3.7%-4.2pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.46+0.2	3.29+0.4	2.89+0.5	2.43-0.3	2.72+0.4	2.31
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	11.1%+4.2pp	6.8%+1.5pp	5.3%-4.1pp	9.4%+10.3pp	-0.9%-5.5pp	4.6%-2.3pp	6.8%+4.5pp	2.3%
Return on Equity	4.4%+1.7pp	2.7%+0.5pp	2.2%-1.9pp	4.0%	N/A	1.8%-0.8pp	2.7%+1.7pp	1.0%
Return on Assets	1.0%+0.4pp	0.6%+0.1pp	0.5%-0.4pp	0.9%+1.0pp	-0.1%-0.5pp	0.4%-0.2pp	0.6%+0.4pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.18-0.2	3.33+0.0	3.32-0.1	3.46-0.2	3.69+0.3	3.40+0.1	3.29-0.4	3.73
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is United Fire Group Inc's annual revenue?

United Fire Group Inc (UFCS) reported $1.3B in total revenue for fiscal year 2024. This represents a 14.4% 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 United Fire Group Inc's revenue growing?

United Fire Group Inc (UFCS) revenue grew by 14.4% year-over-year, from $1.1B to $1.3B in fiscal year 2024.

Is United Fire Group Inc profitable?

Yes, United Fire Group Inc (UFCS) reported a net income of $62.0M in fiscal year 2024, with a net profit margin of 4.9%.

What is United Fire Group Inc's earnings per share (EPS)?

United Fire Group Inc (UFCS) reported diluted earnings per share of $2.39 for fiscal year 2024. This represents a 302.5% 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 United Fire Group Inc's net profit margin?

United Fire Group Inc (UFCS) had a net profit margin of 4.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does United Fire Group Inc pay dividends?

Yes, United Fire Group Inc (UFCS) paid $0.64 per share in dividends during fiscal year 2024.

What is United Fire Group Inc's return on equity (ROE)?

United Fire Group Inc (UFCS) has a return on equity of 7.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is United Fire Group Inc's operating cash flow?

United Fire Group Inc (UFCS) generated $340.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are United Fire Group Inc's total assets?

United Fire Group Inc (UFCS) had $3.5B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does United Fire Group Inc have outstanding?

United Fire Group Inc (UFCS) had 25M shares outstanding as of fiscal year 2024.

What is United Fire Group Inc's debt-to-equity ratio?

United Fire Group Inc (UFCS) had a debt-to-equity ratio of 3.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is United Fire Group Inc's return on assets (ROA)?

United Fire Group Inc (UFCS) had a return on assets of 1.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is United Fire Group Inc's Piotroski F-Score?

United Fire Group Inc (UFCS) has a Piotroski F-Score of 5 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 United Fire Group Inc's earnings high quality?

United Fire Group Inc (UFCS) has an earnings quality ratio of 5.49x, 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.