Cincinnati Financial vs Old Republic International
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The short version
- Cincinnati Financial is the larger business, with $12.6B of revenue in fiscal 2025 against $9.1B for Old Republic International.
- Investors pay more for each dollar of Old Republic International’s earnings: a P/E of 8.5x against 8.3x for Cincinnati Financial.
| Latest fiscal year | CINF · FY25 | ORI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $27.4B | $9.6B |
| Revenue | $12.6B | $9.1B |
| Free cash flow | $3.1B | — |
| Net income | $2.4B | $935M |
| Growth | ||
| Revenue growth | 11.4% | 11.0% |
| 5-year growth | 10.9% | 5.0% |
| Share count change | −0.1% | −4.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 19.0% | 10.2% |
| FCF margin | 24.5% | — |
| Return on capital | 17.1% | — |
| Return on equity | 16.0% | 16.2% |
| Balance sheet | ||
| Net debt | −$789M | — |
| Net debt / EBITDA | −0.3x | — |
| Dividends and buybacks | $730M | $906M |
| Valuation & quality | ||
| P/E | 8.3x | 8.5x |
| Piotroski F-score | — | — |
Revenue
FY16
CINF $5.4B
ORI $5.9B
FY17
CINF $5.7B
ORI $6.3B
FY18
CINF $5.4B
ORI $6.3B
FY19
CINF $7.9B
ORI $7.5B
FY20
CINF $7.5B
ORI $7.2B
FY21
CINF $9.6B
ORI $9.3B
FY22
CINF $6.6B
ORI $8.1B
FY23
CINF $10.0B
ORI $7.3B
FY24
CINF $11.3B
ORI $8.2B
FY25
CINF $12.6B
ORI $9.1B
CINF
ORI
Operating margin
FY16
CINF —
ORI —
FY17
CINF —
ORI —
FY18
CINF —
ORI —
FY19
CINF —
ORI —
FY20
CINF —
ORI —
FY21
CINF —
ORI —
FY22
CINF —
ORI —
FY23
CINF —
ORI —
FY24
CINF —
ORI —
FY25
CINF —
ORI —
CINF
ORI
Free cash flow
FY16
CINF $1.1B
ORI —
FY17
CINF $1.0B
ORI —
FY18
CINF $1.2B
ORI —
FY19
CINF $1.2B
ORI —
FY20
CINF $1.5B
ORI —
FY21
CINF $2.0B
ORI —
FY22
CINF $2.0B
ORI —
FY23
CINF $2.0B
ORI —
FY24
CINF $2.6B
ORI —
FY25
CINF $3.1B
ORI —
CINF
ORI
Return on capital
FY16
CINF 9.2%
ORI —
FY17
CINF 10.1%
ORI —
FY18
CINF 3.8%
ORI —
FY19
CINF 23.0%
ORI —
FY20
CINF 12.3%
ORI —
FY21
CINF 26.1%
ORI —
FY22
CINF −4.5%
ORI —
FY23
CINF 17.1%
ORI —
FY24
CINF 18.4%
ORI —
FY25
CINF 17.1%
ORI —
CINF
ORI
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.