Cincinnati Financial Corp.

Cincinnati Financial Corp.

CINF

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Market Cap$25.83B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Cincinnati Financial Corp.Cincinnati Financial Corp.7.92.15%20%1.90.4

Earnings Call Q2 2026

July 28, 2026 - AI Summary

Strong profitability headline, but operating earnings soft (good + mildly bad): - Net income: nearly $1.3B in Q2 2026, driven heavily by $882M after-tax recognition of equity fair value gains still held (investment mark-to-market—non-operational in the underwriting sense). - Non-GAAP operating income: $224M, down from $311M a year ago. - P&C combined ratio: 100.8% for the quarter, up 5.9 points YoY; catastrophe losses were up 2.3 points contribution to the deterioration.
Underwriting discipline remains intact despite higher cat volatility (good + outlook directionally stable): - Management emphasized that other P&C metrics were generally in line with expectations even though cats were modestly higher than longer-term average. - Current accident year (1H 2026) combined ratio pre-cat: 87.8%, essentially flat vs 87.7% through 1H 2025 → suggests pricing/underwriting quality is holding. - Loss reserves approach: targets net additions in the upper half of actuarial ranges; in Q2 there was $42M net favorable prior-year reserve development, helping the combined ratio by 1.7 points.
Premium growth continues, but is slowing due to pricing/risk selection (good business, but growth challenge): - Consolidated P&C net written premiums: +3% for the quarter. - ~2/3 from rate, ~1/3 from exposure (explicitly called out). - Renewal pricing increases are lower than Q1 but still described as “healthy.” - Segment detail: - Commercial lines: +3% premium; 104.1% combined ratio, up 11.2 points YoY (including +4.9 points from higher catastrophe losses). - Personal lines: +1% premium; combined ratio 99.9%, 2.1 points better YoY (improved catastrophe impact), but new business premiums down due to a softening market. - Excess & surplus: +8% premium; excellent 90.5% combined ratio.

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$191.80

Target Price by Analysts

11.9% upsideCincinnati Financial Target Price DetailsTarget Price
$374.01

Current Fair Value

118.3% upside

Undervalued by 118.3% based on the discounted cash flow analysis.

Share Statistics

Market cap$25.83 Billion
Enterprise Value$30.55 Billion
Dividend Yield$3.62 (2.15%)
Earnings per Share$15.17
Beta0.55
Outstanding Shares154,176,904

Return

Return on Equity19.96%ROE
Return on Assets7.72%
Return on Invested Capital18.98%

Valuation & Multiples

P/E Ratio7.91P/E Ratio
PEG9.5PEG
Price to Sales1.9Price to Sales
Price to Book Ratio1.6Price to Book Ratio
Enterprise Value to Revenue2.19
Enterprise Value to EBIT7.32
Enterprise Value to Net Income9
Total Debt to Enterprise0.21
Debt to Equity0.39Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 27, 2026
EPS Estimate
$1.84
Average shareholder expectation
Revenue Estimate
$2.71 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 26, 2026
EPS Estimate
$1.89
Average shareholder expectation
Revenue Estimate
$2.64 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.2469 0.10%
Total Calls603,500 130.17%
Total Puts149,000 129.23%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %75.28% 6.16%
Total Invested$21.56B 28.06%
Investors Holding951 16.00%

ESG Score

No data

About Cincinnati Financial Corp.

CEO: Steven Johnston