Property casualty insurer Cincinnati Financial (NASDAQ: CINF) reported Q4 CY2025 results beating Wall Street’s revenue expectations, with sales up 16.5% year on year to $3.09 billion. Its non-GAAP profit of $3.37 per share was 16.6% above analysts’ consensus estimates.
Is now the time to buy Cincinnati Financial? Find out by accessing our full research report, it’s free.
Cincinnati Financial (CINF) Q4 CY2025 Highlights:
- Net Premiums Earned: $2.59 billion vs analyst estimates of $2.56 billion (9.6% year-on-year growth, 1.4% beat)
- Revenue: $3.09 billion vs analyst estimates of $2.92 billion (16.5% year-on-year growth, 5.8% beat)
- Pre-tax Profit: $840 million (27.2% margin)
- Adjusted EPS: $3.37 vs analyst estimates of $2.89 (16.6% beat)
- Book Value per Share: $102.35 vs analyst estimates of $100.27 (14.9% year-on-year growth, 2.1% beat)
- Market Capitalization: $26.94 billion
Company Overview
Founded in 1950 by independent insurance agents seeking stable market options for their clients, Cincinnati Financial (NASDAQ: CINF) provides property casualty insurance, life insurance, and related financial services through independent agencies across 46 states.
Revenue Growth
Insurers earn revenue three ways. The core insurance business itself, often called underwriting and represented in the income statement as premiums earned, is one way. Investment income from investing the “float” (premiums collected upfront not yet paid out as claims) in assets such as fixed-income assets and equities is the second way. Fees from various sources such as policy administration, annuities, or other value-added services is the third. Over the last five years, Cincinnati Financial grew its revenue at an impressive 11.3% compounded annual growth rate. Its growth beat the average insurance company and shows its offerings resonate with customers, a helpful starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Cincinnati Financial’s annualized revenue growth of 13.1% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
This quarter, Cincinnati Financial reported year-on-year revenue growth of 16.5%, and its $3.09 billion of revenue exceeded Wall Street’s estimates by 5.8%.
Net premiums earned made up 89.2% of the company’s total revenue during the last five years, meaning Cincinnati Financial barely relies on non-insurance activities to drive its overall growth.
Net premiums earned commands greater market attention due to its reliability and consistency, whereas investment and fee income are often seen as more volatile revenue streams that fluctuate with market conditions.
Microsoft, Alphabet, Coca-Cola, Monster Beverage—all began as under-the-radar growth stories riding a massive trend. We’ve identified the next one: a profitable AI semiconductor play Wall Street is still overlooking. Go here for access to our full report.
Book Value Per Share (BVPS)
Insurers are balance sheet businesses, collecting premiums upfront and paying out claims over time. Premiums collected but not yet paid out, often referred to as the float, are invested and create an asset base supported by a liability structure. Book value per share (BVPS) captures this dynamic by measuring these assets (investment portfolio, cash, reinsurance recoverables) less liabilities (claim reserves, debt, future policy benefits). BVPS is essentially the residual value for shareholders.
We therefore consider BVPS very important to track for insurers and a metric that sheds light on business quality because it reflects long-term capital growth and is harder to manipulate than more commonly-used metrics like EPS.
Cincinnati Financial’s BVPS grew at a decent 8.8% annual clip over the last five years. BVPS growth has accelerated recently, growing by 15.2% annually over the last two years from $77.06 to $102.35 per share.
Over the next 12 months, Consensus estimates call for Cincinnati Financial’s BVPS to grow by 2.9% to $100.27, lousy growth rate.
Key Takeaways from Cincinnati Financial’s Q4 Results
We were impressed by how significantly Cincinnati Financial blew past analysts’ revenue expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. Zooming out, we think this was a solid print. The stock remained flat at $168.67 immediately following the results.
So should you invest in Cincinnati Financial right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here (it’s free).
