Income StatementBalance SheetCash FlowSegments
The Travelers Companies logo

The Travelers Companies Income Statement

Revenue, expenses, and profitability over time

The Travelers Companies generated $48.9B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $7.6B with a 15.54% net margin. Diluted EPS is $33.51, which grew 0.8% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$48.9BNet Income (TTM)$7.6BEps Diluted (TTM)$33.51
Latest FilingQ1 2026
Report Date2026-04-16
Market Cap$63.4B
P/E Ratio8.33
ROE25.27%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Undistributed Earnings Allocated to Participating Securities (Basic)—$3.0M$11.0M$13.0M—$12.0M
Basic earnings per share$9.07$1.73$6.63$8.37$11.10$7.89
Diluted earnings per share$8.96$1.70$6.53$8.24$10.96$7.78
Dividends Per Share Declared—$1.05$1.10$1.10—$1.10
Weighted-average shares, basic—226.9M225.9M224.1M—215.2M
Weighted-average shares, diluted—230.4M229.3M227.5M—218.4M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income applicable to common shareholders—$392.0M$1.5B$1.9B—$1.7B
Net Income Available to Common Stockholders (Diluted)—$392.0M$1.5B$1.9B—$1.7B
Net income$2.1B$395.0M$1.5B$1.9B$2.5B$1.7B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Income Taxes—$24.0M$538.0M$194.0M—$12.0M
Stock-Based Compensation Tax Benefit—$13.0M$9.0M$11.0M—$13.0M
Income tax expense$512.0M$73.0M$372.0M$456.0M$607.0M$408.0M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating Lease Cost—$16.0M$16.0M$16.0M—$15.0M
Short-term Lease Cost—$1.0M$0.0$1.0M—$1.0M
Stock-Based Compensation Expense (Pre-tax)—$83.0M$57.0M$59.0M—$87.0M
Depreciation and amortization—$188.0M$164.0M$166.0M—$193.0M
Total Lease Cost—$17.0M$16.0M$17.0M—$16.0M
Selling, general and administrative$1.5B$1.5B$1.5B$1.6B$1.5B$1.5B

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments—$53.0M$42.0M$74.0M—$23.0M
Sublease Income—$0.0$0.0$0.0—$0.0
Interest expense$98.0M$99.0M$99.0M$111.0M$116.0M$116.0M
Realized Gain on AFS Securities—$1.0M$2.0M-$2.0M—$1.0M
Gain on retained interest in Sandisk—-$22.0M$23.0M$40.0M—-$5.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.6B$468.0M$1.9B$2.3B$3.1B$2.1B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$10.9B$10.7B$10.9B$11.1B$11.1B$10.6B
Total revenue$12.0B$11.8B$12.1B$12.5B$12.4B$11.9B
Fee income$128.0M$119.0M$124.0M$127.0M$125.0M$121.0M
Net investment income$955.0M$930.0M$942.0M$1.0B$1.1B$1.0B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Medical costs$6.0B$8.0B$6.8B$6.6B$5.8B$6.4B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation—$108.0M$57.0M$3.0M—$185.0M
Benefits, Losses and Expenses$9.4B$11.3B$10.2B$10.1B$9.3B$9.8B
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—$25.0M-$65.0M$70.0M—-$227.0M
Changes in net unrealized gains (losses) on investment securities having credit losses recognized in the consolidated statement of income—$1.0M$0.0$0.0—$0.0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$794.0M$2.0B$2.9B—$1.1B
Current period change for expected credit losses—-$1.0M$0.0$0.0—-$2.0M
Write-offs of uncollectible contractholder receivables—$0.0$0.0$0.0—$0.0
Realized losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date—$18.0M$5.0M-$3.0M—$0.0
Gross realized losses on sales of fixed maturities—$12.0M$14.0M$3.0M—$19.0M
Federal-$50.0M$31.0M-$83.0M$320.0M—$51.0M
Deferred Policy Acquisition Costs, Amortization Expense$1.8B$1.8B$1.8B$1.8B$1.8B$1.8B
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash—$8.0M$19.0M-$6.0M—-$5.0M
Gross Unrealized Gains$0.0$132.0M$27.0M$39.0M—$170.0M
Equity Securities, FV-NI, Unrealized Loss$4.0M$10.0M$3.0M-$1.0M$5.0M$7.0M
Increase (Decrease) in Deferred Policy Acquisition Costs—$1.8B$1.9B$1.9B—$1.8B
Loss and loss adjustment expense reserves—$1.8B$725.0M$845.0M—$1.2B
Increase (Decrease) in Premiums Receivable—$459.0M$438.0M-$412.0M—$434.0M
Increase (Decrease) in Reinsurance Recoverable—$97.0M-$78.0M$250.0M—$108.0M
Unearned premiums—$419.0M$495.0M$331.0M—$351.0M
Add - Incremental shares under stock-based compensation plans (in shares)—3.5M3.4M3.4M—3.2M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$61.0M$136.0M$60.0M—$94.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$535.0M-$702.0M$402.0M—-$2.1B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation—-$808.0M-$1.7B-$4.6B—-$335.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation—$1.4B$2.3B$4.2B—$2.2B
Net realized investment gains (losses), net of tax—-$48.0M$5.0M$21.0M—$15.0M
Number of reportable segments—3.000.000.00—3.00
Core income (loss)—$443.0M$1.5B$1.9B—$1.7B
Operating Lease And Short-Term Lease, Cost—$17.0M$16.0M$17.0M—$16.0M
Operating Lease Payments—$18.0M$18.0M$19.0M—$18.0M
Net unrealized gains/(losses) on available-for-sale securities—$436.0M$341.0M$1.3B—-$1.1B
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent—$0.0$0.0$0.0—$8.0M
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent—$61.0M$228.0M-$72.0M—$327.0M
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent—$498.0M$569.0M$1.3B—-$827.0M
Other comprehensive income/(loss)—$399.0M$483.0M$991.0M—-$578.0M
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent—$99.0M$86.0M$284.0M—-$249.0M
Membership and other income$112.0M$112.0M$123.0M$148.0M$125.0M$141.0M
All other operating activities—-$899.0M$47.0M$644.0M—-$634.0M
Payments for (Proceeds from) Available-for-Sale Securities, Short-Term—-$239.0M$215.0M$2.1B—$945.0M
Payment for (Proceeds from) Other Investing Activity—$116.0M$127.0M$155.0M—$119.0M
Payments for Repurchase of Common Stock—$250.0M$500.0M$619.0M—$1.8B
Payments of Ordinary Dividends, Common Stock—$240.0M$250.0M$247.0M—$237.0M
Payment, Tax Withholding, Share-Based Payment Arrangement—$102.0M$22.0M$1.0M—$149.0M
Payments to Acquire Debt Securities, Available-for-Sale—$4.3B$4.8B$5.4B—$5.4B
Payments to Acquire Equity Securities, FV-NI—$25.0M$35.0M$34.0M—$25.0M
Payments to Acquire Other Investments—$96.0M$80.0M$86.0M—$69.0M
Payment for Acquisition, Real Estate, Held-for-Investment—$7.0M$6.0M$10.0M—$12.0M
Current period change for expected credit losses—$16.0M$19.0M$13.0M—$18.0M
Premium Receivable, Allowance for Credit Loss, Writeoff—$16.0M$16.0M$16.0M—$16.0M
Proceeds from principal business dispositions—————$2.4B
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale—$2.8B$3.1B$2.9B—$3.0B
Other investments, net of payments  —$63.0M$79.0M$68.0M—$60.0M
Sale of investments—$253.0M$348.0M$178.0M—$251.0M
Proceeds from disposal of certain strategic investments—$68.0M$32.0M$31.0M—$52.0M
Cash received from option exercises—$57.0M$70.0M$36.0M—$86.0M
Gross realized gains (losses)-$55.0M-$61.0M$6.0M$27.0M-$20.0M$49.0M
Write-offs of uncollectible reinsurance recoverables—$0.0$0.0$0.0—$0.0
Current period change for estimated uncollectible reinsurance—$9.0M-$1.0M$14.0M—$1.0M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$7.0M$9.0M$9.0M—$8.0M
Securities transactions in the course of settlement—$308.0M$64.0M-$4.0M—$430.0M
Tax withholding obligation, shares withheld (in shares)—400K300K10.4K—600K
Total net impairment charges, including credit impairments, reported in net realized investment gains (losses) in the consolidated statement of income—$2.0M$0.0$0.0—$4.0M
Average price paid (in dollars per share)—$256.95$269.90$271.76—$300.30
Number of shares purchased (in shares)—1M1.8M2.3M—6M
Treasury stock, value, acquired—$250.0M$500.0M$625.0M—$1.8B