Cincinnati Financial Corporation (CINF) is a publicly traded company in the Financial Services — Insurance - Property & Casualty industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Cincinnati Financial Corporation, operating through its various subsidiaries, delivers a range of property and casualty insurance offerings across the United States. Its operations are organized into five distinct divisions: Commercial Lines, Personal Lines, Excess and Surplus Lines, Life Insurance, and Investments.
Is Cincinnati Financial Corporation stock overvalued or undervalued in 2026?
Cincinnati Financial Corporation (CINF) trades at 10.6× earnings (P/E), against a median of 13.0× across the 324 financial services companies above $2bn in Kaplio's universe. At a P/B justified by its ROE 16.5 % (2.0×) $211 (+16 %); at its peers' median (1.2×) $132 (-27 %).
Kaplio overview: Cincinnati Financial Corporation
Market cap $28B · 52 weeks $154 – $192 (6 % below the high) · P/E 10.6× · 2027 expected P/E 20.0× · Dividend 2.0 % · 7 years rising · Next earnings February 8, 2027 · expected EPS $3.04 · Closing price, Oct 30 · accounts published Oct 26.
- Valuation: P/B 1.7× (justified).
- Business: 5-year op. margin 19.9 % (excellent).
- Balance sheet: Debt/Equity 0.05 (solid).
- Earnings: 7 of 8 (on track).
What would it be worth at its usual multiples?
At a P/B justified by its ROE 16.5 % (2.0×) $211 (+16 %); at its peers' median (1.2×) $132 (-27 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in insurance: 4 of 5 pass
- Dividend growth streak 7 años, fails.
- Op Margin 5y (Combined Ratio proxy) 19.9 %, passes.
- Book Value / Share growth 8.7 %, passes, near the threshold.
- Debt / Equity 0.05, passes.
- P/B (Price / Book) 1.7×, passes.
Against its peers (reference peers) — Cincinnati Financial Corporation: P/E 10.6×; P/B 1.7×; ROE 16.5 %; $27.8B. W. R. Berkley Corporation (P/E 15.6×; P/B 3.0×; ROE 19.0 %; $27.4B), Markel Corporation (P/E 13.3×; P/B 1.2×; ROE 9.7 %; $22.9B), CNA Financial Corporation (P/E 10.7×; P/B 1.2×; ROE 12.0 %; $13.2B).
Expensive or cheap against its last ten fiscal years?
P/B at each close: today 1.7× · median 1.7× · minimum 0.8× · maximum 2.5× · cheap below 1.5× · expensive above 1.8×. It has been cheaper than today 60% of the time over its last ten fiscal years.
Dividend
solid · Yield 2.0 % ($3.33 per share in 2025) · Years raising it 7 · 5-year growth +8 % a year · Free cash flow coverage payout 22 % · With $1,000 invested today you'd collect $20.40 a year ($1.70 a month).
Kaplio's reading: Cincinnati Financial Corporation
Updated on October 27, 2026 · accounts published on October 26, 2026
Reading of October 26, 2026: A disciplined, highly profitable insurer that runs with almost no debt
Cincinnati Financial trades at 1.7× book value with a 16.5 % ROE over the last 12 months, below the 2.0× that this level of profitability justifies.
- Is Cincinnati Financial expensive or cheap? At 1.7× book with a 16.5 % ROE it sits below the 2.0× justified; its P/E of 8.4× is 36 % under the sector median.
- How is the business doing? Operating margin of 20.7 % over the last 12 months, above its 17.9 % average for 2014-2025, with revenue up 11 %.
- How strong is the balance sheet? Debt to equity of 0.05 over the last 12 months, far below the 0.3 that counts as prudent for an insurer.
- What to expect from the next earnings? Next earnings on February 8, 2027, with EPS of $2.94 expected; the 2026 EPS consensus rose 1.8 % in the last 30 days.
- Does it underwrite with discipline and build book value? Average operating margin of 19.9 % in fiscal 2021-2025, about double the 10 % insurers need to count as healthy.
Is Cincinnati Financial expensive or cheap?
For an insurer, price to book comes first. Cincinnati Financial trades at 1.7× book value over the last 12 months, and with a 16.5 % ROE that multiple is justified up to 2.0×, so the market is not overpaying for its returns. The P/E points the same way: at 8.4× over the last 12 months, it is 25 % below its ten-year median of 11.2× and 36 % below the 13.0× sector median. It has traded lower only 31 % of the time over the decade. The shares are up 15 % over 12 months and sit 8 % below their 52-week high of $192.03.
How is the business doing?
Revenue grew 11 % over the last 12 months, while EPS rose a slower 4 %, so profit is lagging sales growth. Margins remain well above history: the 20.7 % operating margin over the last 12 months beats the 17.9 % average of fiscal 2014-2025, though it trails the 23.6 % reached in fiscal 2025. The net margin is 20.1 % and ROE is 16.5 %, a level the sector considers high from 14 %. The business earns more than it did over most of the past decade, with the last 12 months slightly below its best year.
How strong is the balance sheet?
Cincinnati Financial barely uses debt: 0.05 times equity over the last 12 months, against a prudence threshold of 0.3 for insurers. Its capital rests almost entirely on shareholders' equity. Payouts are modest and well covered. The dividend yields 2.1 % over the last 12 months and took 22 % of fiscal 2025 earnings, leaving most profit inside the company to build book value. The dividend has risen for 7 consecutive fiscal years through 2025, three short of the 10-year streak that marks an insurance aristocrat, so that label is still to be earned.
What to expect from the next earnings?
The last report, on October 26, 2026, delivered EPS of $2.86 against $2.05 expected, a 39.5 % beat, and the company has topped EPS estimates in 7 of the last 8 quarters. Analysts are adjusting slowly: the 2026 EPS consensus rose 1.8 % in the last 30 days, from $8.37 to $8.52 across 6 analysts, while revenue estimates barely moved. Of 17 analysts, 7 recommend buying, 9 holding and 1 selling, a cautious mix. For the February 8, 2027 report, the bar is $2.94 per share, above the quarter just reported.
Does it underwrite with discipline and build book value?
Insurers earn in two ways: underwriting policies well and investing the float, the premiums held until claims are paid. Buffett built Berkshire on that model. That is why the sector watches margins across several years and growth in book value per share. Cincinnati Financial averaged a 19.9 % operating margin over fiscal 2021-2025, against a healthy threshold of 10 %. Book value per share grew 8.7 % a year over fiscal 2020-2025, just above the 8 % bar, the test it passes most narrowly. With debt at 0.05 times equity, that growth comes from earnings without leaning on leverage.
How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.
Investor methods verdict
Would Peter Lynch approve Cincinnati Financial today?
The Lynch Method approves Cincinnati Financial today. Business quality: 91 out of 100 (price not included). Lynch classifies it as a stalwart. Kaplio assessment with data from the week of 2026-10-26; not investment advice.
Profitability
| Return on Equity | 16.53% |
| Return on Invested Capital | 11.52% |
| Return on Assets | 6.25% |
| Gross Margin | 48.84% |
| Operating Margin | 24.91% |
| Net Margin | 20.07% |
Financial Health
| Debt / Equity | 0.05 |
| Current Ratio | 2.03 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.89 |
Price Performance
| 1 month | +11.88% |
| 3 months | +1.77% |
| Year-to-date | +10.94% |
| 1 year | +17.21% |
| 3 years | +81.39% |
| 5 years | +46.63% |
| 10 years | +162.56% |
Dividend History
Paid in the last 12 months: $3.6900 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-23 | $0.9400 |
| 2026-06-23 | $0.9400 |
| 2026-03-24 | $0.9400 |
| 2025-12-22 | $0.8700 |
| 2025-09-22 | $0.8700 |
| 2025-06-23 | $0.8700 |
| 2025-03-24 | $0.8700 |
| 2024-12-19 | $0.8100 |
| 2024-09-17 | $0.8100 |
| 2024-06-18 | $0.8100 |
Amounts adjusted for stock splits.
Related companies: CB · PGR · TRV · ALL · WRB · MKL · CNA · AFG
Explore sector: Financial Services · Insurance - Property & Casualty
More sections of CINF: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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