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AMERICAN FINANCIAL GROUP INC AFG

NYSE · stock · Fire, Marine & Casualty Insurance · website · IPO 1980-03-17 · LEI

AMERICAN FINANCIAL GROUP INC statistics & valuation

Market cap$11.6B
P / E13.7×
P / S1.4×
P / B2.4×
Dividend yield5.24%
Net margin10.3%
Return on equity17.5%
Net debt$93.0M
Net debt / EBITDA0.1×
Enterprise value USD$11.7B
EV / EBITDA10.1×
Earnings yield EBIT/EV9.2%
Graham number -21%$114.42

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($114.42); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
10.00% 6.90% 7.40% 14.40% 12.70% 30.40% 12.80% 10.90% 10.70% 10.30% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
12.10% 10.50% 8.90% 10.20% 5.90% 20.40% 16.00% 13.70% 13.50% 13.10% 2016201720182019202020212022202320242025
Return on equity (%)
13.20% 8.90% 10.70% 14.30% 10.80% 39.80% 22.20% 20.00% 19.90% 17.50% 2016201720182019202020212022202320242025
Shares outstanding
88.5M 89.8M 90.6M 91.0M 89.2M 85.6M 85.3M 84.8M 84.0M 83.5M 2016201720182019202020212022202320242025
Net debt ($)
-$824.0M -$1.04B -$213.0M -$841.0M $298.0M -$167.0M $624.0M $250.0M $69.0M $93.0M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.20% 0.80% 0.80% 1.30% 1.00% 6.90% 3.10% 2.90% 2.90% 2.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.26× 0.24× 0.26× 0.23× 0.29× 0.39× 0.37× 0.35× 0.33× 0.38× 2016201720182019202020212022202320242025
EPS ($)
$7.33 $5.28 $5.85 $9.85 $8.20 $23.30 $10.53 $10.05 $10.57 $10.08 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AMERICAN FINANCIAL GROUP INC trades at about 14.4× earnings — above its 10-year norm (10-year range 5.6×–21.5×, median 12.9×).

5.6× 21.5×

Shaded band = 10-year range (5.6×–21.5×); dot = today's 14.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin13.1%13.5%13.7%16.0%20.4%5.9%10.2%8.9%10.5%12.1%
Net margin10.3%10.7%10.9%12.8%30.4%12.7%14.4%7.4%6.9%10.0%
Return on assets2.6%2.9%2.9%3.1%6.9%1.0%1.3%0.8%0.8%1.2%
Return on equity17.5%19.9%20.0%22.2%39.8%10.8%14.3%10.7%8.9%13.2%
Debt / equity0.38×0.33×0.35×0.37×0.39×0.29×0.23×0.26×0.24×0.26×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.