# American Financial Group, Inc. (AFG) — Stock CV

American Financial Group, Inc. is a $11.7B financial services company. Revenue shrank 0.2% over the last year, and it keeps 12¢ of every dollar of sales as profit. It trades at 12.3× earnings — around the middle of its own history.

> American Financial Group Inc is an insurance holding company. Through its subsidiaries, it is engaged in the property and casualty insurance business, focusing on specialized commercial products for businesses.

## Identity

- **Ticker**: AFG
- **Sector**: Financial Services
- **Industry**: Fire, Marine & Casualty Insurance
- **Headquarters**: CINCINNATI, OH
- **Employees**: 8 500
- **Website**: https://www.afginc.com
- **Market cap**: $11.7B
- **Last price**: $141.08
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $8.28B
- **Net income**: $953M
- **Free cash flow**: $1.57B
- **Net debt**: $93.0M
- **P/E**: 12.3
- **Revenue growth (YoY)**: -0.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 87 |
| Growth | 30 |
| Profitability | 72 |
| Health | 70 |
| Quality | 47 |
| Moat | 38 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [ ] Revenue growing — -0.2% YoY
- [x] Profitable — $953M TTM
- [ ] Profit growing — -1.4% YoY
- [x] Generates cash — $1.57B TTM
- [x] Debt under control — ~0.1y of cash flow to repay
- [x] Established company — $11.7B market cap
- [x] Not printing shares — -6.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 50/100
- [x] Pays a dividend — yield 4.92%
- [x] Valuation not extreme — P/E 12.3

## Experience (career milestones)

- **FY2021** — Best year on record: $2.00B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $6.50B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **Dec 6, 2006** — American Financial sold assets acquired from successors to the dissolution of the Penn Central…
- **1968** — National General Corporation, run by Gene Klein, acquired Great American in 1968

## Strengths

- Strong cash conversion — FCF is 18.9% of revenue
- Interest covered 1074.0× by operating earnings
- High returns on invested capital (ROIC 18.4%)

## Watch-outs

- Revenue shrinking 0.2% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $6.55B | $2.00B | $1.71B |
| FY2022 | $7.04B | $898M | $1.15B |
| FY2023 | $7.83B | $852M | $1.97B |
| FY2024 | $8.32B | $887M | $1.15B |
| FY2025 | $8.17B | $842M | $1.53B |

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Source: https://stockcv.com/AFG — derived from company filings; may be delayed or incomplete. Information, not investment advice.