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Travelers Companies

TRV NYSE Property & Casualty Insurance Financials FY2016–FY2025

Travelers Companies' revenue rose 5.2% to $48.8 billion in fiscal 2025. Its net margin was 12.9%, up from 10.8% a year earlier. It paid out $4.0 billion in dividends and buybacks. The diluted share count fell 1.5%.

Last close · Oct 23, 2026

$398.28

1.8%
Value it Compare
Revenue Total sales reported in the income statement.
$48.8B
5.2% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$6.3B
25.8%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
20.1%
1.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$83.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
10.5x
On $38.06 EPS (TTM)

About these figures. Debt is the total of Travelers' long-term and short-term debt, including its commercial paper, as its filings tag it. Travelers's cash flow statement doesn't show its spending on property and equipment as a line of its own, so capital spending and free cash flow are left blank.

What Travelers Companies does

No business description yet.

Legal name
Travelers Companies, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000086312-26-000065
0000086312

Revenue and margins

Travelers Companies had $48.8B of revenue in fiscal 2025, up 5.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 11.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Travelers Companies returned $4.0B to shareholders in fiscal 2025. The diluted share count fell 1.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Travelers Companies yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.7B and divides by 227.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 10.5x · peers 10.1x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Travelers Companies can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $4.6B$4.3B$5.8B$5.5B$6.6B
Debt incl. finance leases $7.3B$7.3B$8.0B$8.0B$9.3B
Net debt / EBITDA 0.5x0.7x0.5x0.4x0.3x
Debt / equity 0.3x0.3x0.3x0.3x0.3x
Interest coverage 14.1x10.6x10.0x16.8x19.3x
Total assets $120.5B$115.7B$126.0B$133.2B$143.7B
Total liabilities $91.6B$94.2B$101.1B$105.3B$110.8B
Shareholders' equity $28.9B$21.6B$24.9B$27.9B$32.9B
Net debt (− = net cash) $2.7B$3.0B$2.2B$2.6B$2.7B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$35.5M

9 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Oct 21, 2026 Maria OlivoEVP, ERM & Chief Risk Officer Sold 15,100 $398.44 $6.0M Form 4
Oct 20, 2026 Michael Frederick KleinEVP & President, Personal Ins. Sold 7,500 $392.79 $2.9M Form 4
Aug 28, 2026 Maria OlivoEVP, ERM & Chief Risk Officer Sold 6,000 $369.86 $2.2M Form 4
Jul 24, 2026 Daniel Tei-Hwa YinEVP & Co-Chief Invest. Officer Sold 7,153 $387.00 $2.8M Form 4
Jul 24, 2026 Diane KurtzmanEVP & Chief HR Officer Sold 4,164 $386.71 $1.6M Form 4
Jul 22, 2026 Andy F BessetteEVP and Chief Admin Officer Sold 3,000 $368.12 $1.1M Form 4
Jul 22, 2026 David Donnay RowlandEVP & Co-Chief Invest. Officer Sold 5,000 $371.69 $1.9M Form 4
Jul 22, 2026 Paul E. MunsonSVP & Corp. Controller Sold 1,525 $369.91 $0.6M Form 4
Jul 21, 2026 Daniel S. FreyEVP & Chief Financial Officer Sold 14,037 $368.24 $5.2M Form 4
Jul 21, 2026 Michael Frederick KleinEVP & President, Personal Ins. Sold 6,000 $366.09 $2.2M Form 4
Jul 21, 2026 Mojgan M LefebvreEVP & Chief Tech & Ops Officer Sold 16,313 $368.38 $6.0M Form 4
May 26, 2026 Michael Frederick KleinEVP & President, Personal Ins. Sold 10,000 $307.65 $3.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✕
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −3.9%−3.1%−3.1%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Travelers Companies TRV $83.9B 5.2% — — 20.1% 10.5x —
Chubb CB $140.1B 6.5% — — 13.6% 12.6x — Compare →
Allstate ALL $65.6B 5.6% — 14.6% 37.3% 5.1x — Compare →
Hartford HIG $37.8B 6.9% — 20.3% 22.6% 8.8x — Compare →
Progressive PGR $133.2B 16.3% — 19.6% 39.2% 11.4x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $27.6B $28.9B $30.3B $31.6B $32.0B $34.8B $36.9B $41.4B $46.4B $48.8B
Interest expense $363M $369M $352M $344M $339M $340M $351M $376M $392M $425M
Pretax income $4.1B $2.7B $3.0B $3.1B $3.2B $4.5B $3.4B $3.4B $6.2B $7.8B
Income tax $1.0B $674M $438M $516M $540M $796M $512M $380M $1.2B $1.5B
Net income $3.0B $2.1B $2.5B $2.6B $2.7B $3.7B $2.8B $3.0B $5.0B $6.3B
Diluted EPS $10.28 $7.33 $9.28 $9.92 $10.52 $14.49 $11.77 $12.79 $21.47 $27.43
Diluted shares 0.29B 0.28B 0.27B 0.26B 0.25B 0.25B 0.24B 0.23B 0.23B 0.23B
Cash flow
Cash from operations $4.5B $4.1B $4.4B $5.2B $6.5B $7.3B $6.5B $7.7B $9.1B $10.6B
Depreciation and amortization $826M $813M $803M $763M $789M $870M $826M $722M $715M $680M
Stock-based compensation $155M $136M $140M $142M $148M $162M $183M $214M $260M $256M
Acquisitions $0.0M $439M $4.0M $0.0M $0.0M $38.0M $4.0M $0.0M $382M $0.0M
Share buybacks $2.4B $1.4B $1.3B $1.5B $625M $2.2B $2.0B $958M $1.0B $3.0B
Dividends paid $757M $785M $814M $844M $861M $869M $875M $908M $951M $979M
Dividends and buybacks $3.2B $2.2B $2.1B $2.3B $1.5B $3.0B $2.9B $1.9B $2.0B $4.0B
Balance sheet
Cash and short-term investments $5.2B $5.2B $4.4B $5.4B $6.2B $4.6B $4.3B $5.8B $5.5B $6.6B
Total debt $6.4B $6.6B $6.6B $6.6B $6.6B $7.3B $7.3B $8.0B $8.0B $9.3B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $100.2B $103.5B $104.2B $110.1B $116.8B $120.5B $115.7B $126.0B $133.2B $143.7B
Total liabilities $77.0B $79.8B $81.3B $84.2B $87.6B $91.6B $94.2B $101.1B $105.3B $110.8B
Shareholders' equity $23.2B $23.7B $22.9B $25.9B $29.2B $28.9B $21.6B $24.9B $27.9B $32.9B
Margins
EBITDA margin 19.0% 13.5% 13.6% 13.4% 13.7% 16.3% 12.3% 10.8% 15.7% 18.2%
Net margin 10.9% 7.1% 8.3% 8.3% 8.4% 10.5% 7.7% 7.2% 10.8% 12.9%
Returns
Return on capital 13.3% 9.4% 11.3% 11.2% 10.5% 12.9% 11.2% 12.9% 18.5% 20.1%
Return on equity 12.9% 8.8% 10.8% 10.7% 9.8% 12.6% 11.3% 12.9% 18.9% 20.7%
Return on assets 3.0% 2.0% 2.4% 2.5% 2.4% 3.1% 2.4% 2.5% 3.9% 4.5%
Growth
Revenue growth 3.0% 4.6% 4.8% 4.3% 1.3% 8.9% 5.9% 12.2% 12.2% 5.2%
Net income growth −12.4% −31.8% 22.7% 3.9% 2.9% 35.8% −22.4% 5.2% 67.1% 25.8%
EPS growth −5.5% −28.7% 26.6% 6.9% 6.1% 37.7% −18.8% 8.7% 67.9% 27.8%
Share count change −7.3% −4.3% −3.2% −2.8% −2.9% −1.5% −4.4% −3.1% −0.5% −1.5%
Financial health
Net debt / EBITDA 0.2x 0.3x 0.5x 0.3x 0.1x 0.5x 0.7x 0.5x 0.4x 0.3x
Debt / equity 0.3x 0.3x 0.3x 0.3x 0.2x 0.3x 0.3x 0.3x 0.3x 0.3x
Interest coverage 12.2x 8.4x 9.4x 10.1x 10.6x 14.1x 10.6x 10.0x 16.8x 19.3x
Capital allocation
Stock comp / revenue 0.6% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.6% 0.5%
Quality scores
Accruals ratio −1.5% −2.1% −1.8% −2.4% −3.4% −3.1% −3.1% −3.9% −3.1% −3.1%

Source: SEC EDGAR XBRL filings (CIK 0000086312). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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