Arch Capital Group vs Cincinnati Financial
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The short version
- Arch Capital Group is the larger business, with $19.9B of revenue in fiscal 2025 against $12.6B for Cincinnati Financial, about 1.6 times as much.
- Arch Capital Group grew revenue faster (14.3%, against 11.4%).
- Arch Capital Group turned more of its sales into free cash flow (30.8% FCF margin, against 24.5%).
- Investors pay more for each dollar of Cincinnati Financial’s earnings: a P/E of 8.3x against 8.0x for Arch Capital Group.
| Latest fiscal year | ACGL · FY25 | CINF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.5B | $27.4B |
| Revenue | $19.9B | $12.6B |
| Free cash flow | $6.1B | $3.1B |
| Net income | $4.4B | $2.4B |
| Growth | ||
| Revenue growth | 14.3% | 11.4% |
| 5-year growth | 18.6% | 10.9% |
| Share count change | −1.6% | −0.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 22.1% | 19.0% |
| FCF margin | 30.8% | 24.5% |
| Return on capital | — | 17.1% |
| Return on equity | 19.5% | 16.0% |
| Balance sheet | ||
| Net debt | — | −$789M |
| Net debt / EBITDA | — | −0.3x |
| Dividends and buybacks | $1.9B | $730M |
| Valuation & quality | ||
| P/E | 8.0x | 8.3x |
| Piotroski F-score | — | — |
Revenue
FY16
ACGL $4.5B
CINF $5.4B
FY17
ACGL $5.6B
CINF $5.7B
FY18
ACGL $5.5B
CINF $5.4B
FY19
ACGL $6.9B
CINF $7.9B
FY20
ACGL $8.5B
CINF $7.5B
FY21
ACGL $9.2B
CINF $9.6B
FY22
ACGL $9.6B
CINF $6.6B
FY23
ACGL $13.6B
CINF $10.0B
FY24
ACGL $17.4B
CINF $11.3B
FY25
ACGL $19.9B
CINF $12.6B
ACGL
CINF
Operating margin
FY16
ACGL —
CINF —
FY17
ACGL —
CINF —
FY18
ACGL —
CINF —
FY19
ACGL —
CINF —
FY20
ACGL —
CINF —
FY21
ACGL —
CINF —
FY22
ACGL —
CINF —
FY23
ACGL —
CINF —
FY24
ACGL —
CINF —
FY25
ACGL —
CINF —
ACGL
CINF
Free cash flow
FY16
ACGL $1.4B
CINF $1.1B
FY17
ACGL $1.1B
CINF $1.0B
FY18
ACGL $1.5B
CINF $1.2B
FY19
ACGL $2.0B
CINF $1.2B
FY20
ACGL $2.8B
CINF $1.5B
FY21
ACGL $3.4B
CINF $2.0B
FY22
ACGL $3.8B
CINF $2.0B
FY23
ACGL $5.7B
CINF $2.0B
FY24
ACGL $6.6B
CINF $2.6B
FY25
ACGL $6.1B
CINF $3.1B
ACGL
CINF
Return on capital
FY16
ACGL —
CINF 9.2%
FY17
ACGL —
CINF 10.1%
FY18
ACGL —
CINF 3.8%
FY19
ACGL —
CINF 23.0%
FY20
ACGL —
CINF 12.3%
FY21
ACGL —
CINF 26.1%
FY22
ACGL —
CINF −4.5%
FY23
ACGL —
CINF 17.1%
FY24
ACGL —
CINF 18.4%
FY25
ACGL —
CINF 17.1%
ACGL
CINF
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.