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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 $33.53, which grew 0.8% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$48.9BNet Income (TTM)$7.6BEps Diluted (TTM)$33.53
Latest FilingQ1 2026
Report Date2026-04-16
Market Cap$64.6B
P/E Ratio8.50
ROE25.27%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$163M$188M$164M$166M$162M$193M
Policyholder Benefits And Claims Incurred Net$6B$8B$6.8B$6.6B$5.8B$6.4B
Selling, general and administrative$1.5B$1.5B$1.5B$1.6B$1.5B$1.5B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$9.08$1.73$6.63$8.37$11.14$7.89
Diluted earnings per share$8.96$1.70$6.53$8.24$10.98$7.78
Weighted-average shares, basic228M226.9M225.9M224.1M224.2M215.2M
Weighted-average shares, diluted231.1M230.4M229.3M227.5M227.6M218.4M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$74M$53M$42M$74M$57M$23M
Interest expense$98M$99M$99M$111M$116M$116M
Gain on retained interest in Sandisk—-$22M$23M$40M—-$5M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.6B$468M$1.9B$2.3B$3.1B$2.1B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$512M$73M$372M$456M$607M$408M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$2.1B$395M$1.5B$1.9B$2.5B$1.7B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$10.9B$10.7B$10.9B$11.1B$11.1B$10.6B
Fee income$128M$119M$124M$127M$125M$121M
Net investment income$955M$930M$942M$1B$1.1B$1B
Total revenue$12B$11.8B$12.1B$12.5B$12.4B$11.9B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation—$108M$57M$3M—$185M
Pre-tax stock-based compensation cost—$83M$57M$59M—$87M
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—$25M-$65M$70M—-$227M
Changes in net unrealized gains (losses) on investment securities having credit losses recognized in the consolidated statement of income—$1M$0$0—$0
Dividends declared (in dollars per share)—$1.1$1.1$1.1—$1.1
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$794M$2B$2.9B—$1.1B
Current period change for expected credit losses—-$1M$0$0—-$2M
Write-offs of uncollectible contractholder receivables—$0$0$0—$0
Realized losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date—$18M$5M——$0
Gross realized losses on sales of fixed maturities—$12M$14M$3M—$19M
Federal-$50M$31M-$83M$320M—$51M
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-$22M$8M$19M—$2M-$5M
Share-Based Payment Arrangement, Expense, Tax Benefit—$13M$9M$11M—$13M
Gross Unrealized Gains—$132M$27M$39M—$170M
Equity Securities, FV-NI, Unrealized Loss$4M$10M$3M$0$5M$7M
Income Taxes Paid, Net$363M$24M$538M$194M$518M$12M
Increase (Decrease) in Deferred Policy Acquisition Costs$1.7B$1.8B$1.9B$1.9B$1.8B$1.8B
Loss and loss adjustment expense reserves—$1.8B$725M$845M$0$1.2B
Increase (Decrease) in Premiums Receivable—$459M$438M——$434M
Increase (Decrease) in Reinsurance Recoverable—$97M—$250M—$108M
Unearned premiums—$419M$495M$331M—$351M
Add - Incremental shares under stock-based compensation plans (in shares)—3.5M3.4M3.4M—3.2M
Interest Paid, Excluding Capitalized Interest, Operating Activity$135M$61M$136M$60M$136M$94M
Lease Cost—$17M$16M$17M—$16M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$422M-$535M-$702M—-$1.8B-$2.1B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$1.7B-$808M-$1.7B-$4.6B-$575M-$335M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$2.1B$1.4B$2.3B$4.2B$2.7B$2.2B
Net Investment Income$955M$930M$942M$1B$1.1B$1B
Net realized investment gains (losses), net of tax—-$48M$5M$21M—$15M
Number of reportable segments—3.00———3.00
Core income (loss)—$443M$1.5B$1.9B—$1.7B
Operating Lease And Short-Term Lease, Cost—$17M$16M$17M—$16M
Operating Lease Payments—$18M$18M$19M—$18M
Net unrealized gains/(losses) on available-for-sale securities—$436M$341M$1.3B—-$1.1B
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent—$0$0$0—$8M
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent—$61M$228M-$72M—$327M
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent—$498M$569M$1.3B—-$827M
Other comprehensive income/(loss)—$399M$483M$991M—-$578M
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent—$99M$86M$284M—-$249M
Membership and other income$112M$112M$123M$148M$125M$141M
All other operating activities$452M-$899M——$289M-$634M
Payments for (Proceeds from) Available-for-Sale Securities, Short-Term-$712M-$239M—$2.1B—$945M
Payment for (Proceeds from) Other Investing Activity$103M$116M$127M$155M$135M$119M
Payments for Repurchase of Common Stock$256M$250M$500M$619M$1.6B$1.8B
Payments of Ordinary Dividends, Common Stock$240M$240M$250M$247M$242M$237M
Payment, Tax Withholding, Share-Based Payment Arrangement$2M$102M$22M$1M$2M$149M
Payments to Acquire Debt Securities, Available-for-Sale$4.8B$4.3B$4.8B$5.4B$4.3B$5.4B
Payments to Acquire Equity Securities, FV-NI—$25M$35M$34M—$25M
Payments to Acquire Other Investments—$96M$80M$86M—$69M
Payment for Acquisition, Real Estate, Held-for-Investment$14M$7M$6M$10M$25M$12M
Current period change for expected credit losses—$16M$19M$13M—$18M
Premium Receivable, Allowance for Credit Loss, Writeoff—$16M$16M$16M—$16M
Proceeds from principal business dispositions—————$2.4B
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$2.5B$2.8B$3.1B$2.9B$2.9B$3B
Other investments, net of payments  $211M$63M$79M$68M$111M$60M
Sale of investments$159M$253M$348M$178M$53M$251M
Proceeds from disposal of certain strategic investments$50M$68M$32M$31M$29M$52M
Cash received from option exercises$76M$57M$70M$36M$51M$86M
Gross realized gains (losses)-$55M-$61M$6M$27M-$20M$49M
Write-offs of uncollectible reinsurance recoverables—$0$0$0—$0
Current period change for estimated uncollectible reinsurance—$9M-$1M$14M—$1M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$7M$9M$9M—$8M
Securities transactions in the course of settlement—$308M$64M——$430M
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—$2M$0$0—$4M
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—$250M$500M$625M—$1.8B