Cincinnati Financial Corp.
CINF - Insider Information
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+ FollowMarket Cap$27.95B
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Earnings Call Q3 2026
October 27, 2026 - AI Summary
Strong operating performance, but profitability pressured by catastrophes
- 3Q 2026 net income: $459M (including < $1M after-tax from fair value increase in equity securities still held).
- Non-GAAP operating income: $443M, down $6M YoY despite higher catastrophe losses.
- P&C combined ratio: 90.9%, up +2.7 pts YoY; catastrophe losses added +7.0 pts (and were $146M higher after-tax than a year ago).
- Accident year (1–9 months) combined ratio pre-cat: 86.5% vs 86.7% through 1–9 months of 2025 → underlying profitability remains fairly resilient.
Premium growth modest; pricing discipline still key
- Consolidated P&C net written premiums +2% YoY in the quarter; management says growth is moderating as expected due to pricing discipline, risk selection, and policy-by-policy segmentation.
- Renewal price increases are still “healthy,” but lower than 2Q:
- Commercial lines & E&S: low single-digit %
- Homeowners: high single-digit %
- Personal auto: mid-single-digit %
- Growth outlook (qualitative): no explicit guidance, but management frames demand as normalizing (not reversing), especially coming off an unusually strong post-hard-market period.
Segment performance: commercial casualty/prudence + personal lines soft market
- Commercial lines combined ratio 92.8% (+1.7 pts YoY) with +4.3 pts from catastrophe losses; premiums grew <1%.
- Personal lines combined ratio 90.3% (+2.1 pts YoY), with +12.1 pts from catastrophe losses; premiums +1%, driven by lower new business from soft market conditions.
- Excess & surplus lines: premiums +5%, combined ratio 89.4% (described as excellent).
- Reinsurance/investment-related diversification:
- Cincinnati Re premiums +34%, combined ratio 94.8%
- Cincinnati Global premiums +13%, combined ratio 70.7%
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$374.01
96.4% upside
Current Fair Value
96.4% upsideUndervalued by 96.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $27.95 Billion |
|---|---|
| Enterprise Value | $32.67 Billion |
| Annual dividend | $3.69 |
| Dividend yield | 2.04% |
| Earnings per Share | $15.17 |
| Beta | 0.53 |
| Outstanding Shares | 153,500,000 |
Return
| Return on Equity | 15.98% |
|---|---|
| Return on Assets | 6.18% |
| Return on Invested Capital | 15.06% |
Valuation & Multiples
| P/E Ratio | 10.6 |
|---|---|
| PEG | -17.94 |
| Price to Sales | 2.21 |
| Price to Book Ratio | 1.76 |
| Enterprise Value to Revenue | 2.46 |
| Enterprise Value to EBIT | 9.86 |
| Enterprise Value to Net Income | 12 |
| Total Debt to Enterprise | 0.2 |
| Debt to Equity | 0.39 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 26, 2026
EPS Estimate
$2.05
Consensus analyst estimateRevenue Estimate
$2.64 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 8, 2027
EPS Estimate
$2.99
Consensus analyst estimateRevenue Estimate
$2.61 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 24.69% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.70%▼ 69.91% |
|---|---|
| Total Invested | $1.40B▼ 93.52% |
| Investors Holding | 355▼ 621.00% |
About Cincinnati Financial Corp.
5,705 employees
CEO: Steven Johnston
Cincinnati Financial Corporation, along with its affiliated companies, operates in the United States, primarily offering a range of property and casualty insurance products. The organization's activities are structured across five key di...