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Cincinnati Financial CINF Commercial Insurance — Deferred policy acquisition costs

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Other financials

Income statement

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Revenue$2.9B+11.6%
Net income$274.0M+404%
EPS (diluted)$1.75+407%

Balance sheet

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Cash & equivalents$1.2B+19.8%
Total debt$791.0M+0.1%
Total equity$15.7B+14.6%
Total assets$41.2B+10.6%

Cash flow

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Operating cash flow$656.0M+112%
CapEx$2.0M-33.3%
Free cash flow$654.0M+113%

Valuation

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Market cap$28.64B+30.4%
Enterprise value$28.22B+29.7%
P/E10.4×-1.7×
P/S2.2×+0.3×

Profitability

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Net margin21.3%+8.1pp
FCF margin26.6%+3.0pp

Returns & leverage

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Return on equity18.7%+7.8pp
Debt / equity0.1×0.0×

Where this comes from

Reported directly by Cincinnati Financial in its filing.

Tagged under the XBRL concept us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDeferredPolicyAcquisitionCosts.

The official record: Cincinnati Financial’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cincinnati Financial's commercial insurance — deferred policy acquisition costs?
Cincinnati Financial (CINF) reported commercial insurance — deferred policy acquisition costs of $459M in Q4 2025.
How has Cincinnati Financial's commercial insurance — deferred policy acquisition costs changed year-over-year?
Cincinnati Financial's commercial insurance — deferred policy acquisition costs increased by 6.5% year-over-year, from $431M to $459M.
What does commercial insurance — deferred policy acquisition costs mean?
Deferred policy acquisition costs represent commissions and other costs directly related to the acquisition of insurance contracts that are capitalized and amortized over the life of the policy. This accounting treatment aligns expenses with the period in which the related premium revenue is earned.