MARKETS / NYSE / Financials / Insurance / AFG

NYSE · FIRE, MARINE & CASUALTY INSURANCE · LARGE CAP

American Financial Group Inc. AFG

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$8.2B

▼ 1.8% YoY

Net income

$842.0M

▼ 5.1% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Through the operations of Great American Insurance Group, AFG is engaged in property and casualty insurance, focusing on specialized commercial products for businesses. Its property and casualty insurance operations provide a wide range of commercial coverages through 36 insurance businesses that, as of December 31, 2025, made up the Great American Insurance Group. As of December 31, 2025, the Company had approximately 8,500 employees, including approximately 7,700 employed at Great American Insurance Group. In 2025, its property and casualty insurance operations reported net written premiums of $2,771 million from Property and Transportation, $3,247 million from Specialty Casualty and $1,092 million from Specialty Financial. The members of Great American Insurance Group have been in business for over 150 years.

Written from the business description in AMERICAN FINANCIAL GROUP, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 8.2B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 8.2 · Net income 0.8

3B6B

2008201120142017202020232025

Compound annual growth

Revenue

+5.1%

+7.2%

+2.9%

+4.1%

Net income

−2.1%

+2.8%

+9.1%

+3.8%

EPS, diluted

−1.4%

+4.2%

+9.8%

+5.7%

Dividend / share

−20.2%

+13.6%

+18.4%

Returned to shareholders

−17.0%

+2.1%

+11.1%

+5.2%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +7.2% a year over the five years to FY2025 — but profit grew slower: net income at +2.8%, earnings per share at +4.2%.

The share count fell from 0.09B to 0.08B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

10 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 13.1% · Net 10.3%

10%20%30%

200820162025

ROE

FY2025 · ROE 18.1%

10%20%30%

200820162025

Three returns, three denominators.

Return on equity18.1%

Return on assets2.7%

Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Gross margin·

Operating margin13.1%

Net margin10.3%

EBITDAUSD 1.2B

Each USD of equity produced 18 cents of profit this year.

Cash & shareholders

USD 693.0M

returned in FY2025 · dividends + net buybacks

Net buybacks $B Dividends $B

FY2025 · Dividends 0.6 · Net buybacks 0.1

1B2BDividendsNet buybacks

2008201120142017202020232025

Dividends paidUSD 606.0M

Net buybacksUSD 87.0M

Share of profit82.3%

Consecutive raises·

USD 606.0M in dividends and USD 87.0M in buybacks — 82% of the year's profit went back to shareholders.

Total assetsUSD 32.6B

EquityUSD 4.8B

CashUSD 1.7B

Gross debtUSD 1.8B

Net debtUSD 93.0M

Net debt stands at 2% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

AFG, 18-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	8.2	8.3	7.8	7.0	6.6	5.8	6.2	7.2	6.9	6.5	6.1	5.7	5.1	5.0	4.6	4.5	4.3	4.3
Operating income $B	1.1	1.1	1.1	1.1	1.3	0.3	0.6	0.6	0.7	0.8	0.6	0.6	0.7	0.5	0.6	0.7	0.8	0.3
EBITDA $B	1.2	1.2	1.2	1.2	1.5	0.6	0.9	0.8	0.8	0.9	0.7	0.8	0.8	0.8	0.7	0.9	1.0	0.5
Income tax $B	0.2	0.2	0.2	0.2	0.3	0.0	0.1	0.1	0.2	0.1	0.2	0.2	0.2	0.1	0.2	0.3	0.3	0.1
Net income $B	0.8	0.9	0.9	0.9	2.0	0.7	0.9	0.5	0.5	0.6	0.4	0.5	0.5	0.5	0.3	0.5	0.5	0.2
EPS, diluted $	10.08	10.57	10.05	10.53	23.30	8.20	9.85	5.85	5.28	7.33	3.94	4.97	5.16	5.09	3.32	4.36	4.45	1.67
Dividend / sh $	7.28	9.43	8.10	14.31	28.06	3.85	4.95	4.45	4.79	2.15	2.03	1.91	1.80	0.97	0.66	0.57	0.52	0.50
Payout %	72	89	80	135	119	46	49	74	88	29	50	37	34	18	20	13	12	26
ROE %	18.1	20.3	20.5	19.8	33.8	11.2	16.0	10.3	9.3	13.7	7.4	9.5	10.3	10.9	7.7	11.7	16.3	7.5
Shares out B	0.08	0.08	0.08	0.09	0.08	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.10	0.11	0.11	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

UNH · BRK-A · BRK-B · CI · ELV · CNC

Provenance

Company facts, as filed

How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityFire, Marine & Casualty Insurance

Listed onNYSE

Incorporated inOhio

Fiscal year endsDecember 31

Data on record since2008