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Cincinnati Financial Cash Flow Statement

Operating, investing, and financing cash movements

Cincinnati Financial generated $3.5B in operating cash flow over the trailing twelve months. After $19.0M in capital expenditures, free cash flow was $3.4B. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.5BNet Cash From Investing (TTM)-$2.1BNet Cash From Financing (TTM)-$1.1BCapital Expenditures (TTM)$19.0MDepreciation And Amortization Cf (TTM)$105.0MNet Change In Cash (TTM)-$350.0M
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$26.0B
P/E Ratio9.44
ROE18.73%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$4M$3M$4M$5M$8M$2M
Change in short-term investments-$295M$200M$1M—$2M$101M
Payment for (Proceeds from) Other Investing Activity$44M$27M$5M$35M$45M$25M
Payments to Acquire Equity Securities, FV-NI$39M$22M$73M$224M$90M$400M
Payments to acquire (proceeds from sale and collection of) finance receivables$5M$3M—$27M—-$3M
Sale of investments$848M$497M$851M$1.3B$1.2B$1B
Proceeds from disposal of certain strategic investments$267M$17M$17M$167M$134M$454M
Net cash from investing activities-$1.2B-$58M-$556M-$403M-$674M-$493M
Other investing activities$44M$27M$5M$35M$45M$25M
Proceeds from maturities/sales of investments$848M$497M$851M$1.3B$1.2B$1B
Purchases of equity securities$39M$22M$73M$224M$90M$400M
Purchases of investments$1.9B$717M$1.3B$1.5B$1.8B$1.6B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in deferred policy acquisition costs$1M$55M$70M——$40M
Change in loss reserves$75M$777M$292M$188M$247M$452M
Change in other assets$6M$22M$43M—$16M$13M
Change in other liabilities$79M-$135M$81M$97M$41M-$187M
Change in unearned premiums$0$255M$376M——$170M
Deferred income taxes—$4M$89M$163M$27M-$82M
Gain (loss) on sale of assets$0-$74M$466M$843M$170M-$75M
Net cash from operating activities$642M$310M$741M$1.1B$947M$656M
Net income$405M-$90M$685M$1.1B$676M$274M
Depreciation, amortization and other$15M$47M$46M$33M$42M$40M
Gain (Loss) on Sale of Investments$0-$74M$466M$843M$170M-$75M
Increase (Decrease) in Deferred Income Taxes—$59M$28M-$110M-$3M-$113M
Increase (Decrease) in Deferred Policy Acquisition Costs$1M$55M$70M——$40M
Future policy benefits$15M$5M$3M$26M$21M$18M
Unpaid losses and loss expenses$75M$777M$292M$188M$247M$452M
Increase (Decrease) in Other Operating Assets$6M$22M$43M—$16M$13M
Unearned premiums$0$255M$376M——$170M
Increase (Decrease ) in Premiums and Reinsurance receivable—$502M$235M——$175M
Interest credited to policyholder account balances$10M$11M$11M$11M$11M$11M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$125M$125M$133M$134M$133M$133M
Policyholder contract deposits$15M$14M$17M$16M$19M$16M
Other, net-$54M-$36M-$46M-$29M-$42M-$54M
Withdrawal from Contract Holders Funds$38M$40M$40M$41M$45M$39M
Net cash from financing activities-$204M-$225M-$200M-$246M-$302M-$384M
Other financing activities-$54M-$36M-$46M-$29M-$42M-$54M
Proceeds from issuance of common stock$3M$4M$2M$2M$2M$5M
Repurchases of common stock$5M$42M$0$60M$103M$179M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$638M$307M$737M$1.1B$939M$654M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$174M$2M$95M$2M$121M$4M
Capital Lease Obligations Incurred$6M$8M$4M$4M$8M$3M
Income Taxes Paid, Net$174M$2M$95M$2M$121M$4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash—$27M—$465M—-$221M
Accrued payables for stock repurchases, including applicable excise tax—$100M$154M$90M—$38M
Non Cash Share-Based Compensation$12.8M$9.3M$9.3M$9.3M$9.3M—
Purchase Of Treasury Shares Non Cash—$13M$13M$3M—$27M