Question 1

What is American Financial Group's P/FCF ratio?

Accepted Answer

American Financial Group (AFG) P/FCF ratio is 7.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for American Financial Group?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For American Financial Group specifically, the relevant sector benchmark is the current sector median of 11.1×.

Question 5

Is American Financial Group's P/FCF ratio high or low?

Accepted Answer

American Financial Group's P/FCF ratio of 7.0× is below its own 5-year average of 8.0× and below the sector median of 11.1×. That places the current reading at the 29th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is American Financial Group's historical P/FCF ratio range?

Accepted Answer

In the available daily series, American Financial Group (AFG) P/FCF ratio has ranged from a low of 1.6× in 2003 to a high of 20.9× in 2012. The 5-year average is 8.0× and the 5-year median is 7.8×.

Question 7

What was American Financial Group's P/FCF ratio in 2025?

Accepted Answer

American Financial Group (AFG) P/FCF ratio at the end of 2025 was 7.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does American Financial Group's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$11.45B	$1.46B	7.9×	-2.1×	Dec 31, 2025
2024	$11.50B	$1.15B	10.0×	+4.8×	Dec 31, 2024
2023	$9.94B	$1.91B	5.2×	-5.8×	Dec 31, 2023
2022	$11.70B	$1.07B	11.0×	+3.7×	Dec 31, 2022
2021	$11.66B	$1.60B	7.3×	+3.8×	Dec 31, 2021
2020	$7.57B	$2.18B	3.5×	-0.6×	Dec 31, 2020
2019	$9.90B	$2.46B	4.0×	+0.2×	Dec 31, 2019
2018	$8.08B	$2.08B	3.9×	-1.4×	Dec 31, 2018
2017	$9.58B	$1.80B	5.3×	-1.4×	Dec 31, 2017
2016	$7.68B	$1.15B	6.7×	+1.7×	Dec 31, 2016
2015	$6.31B	$1.27B	5.0×	+2.1×	Dec 31, 2015
2014	$5.33B	$1.82B	2.9×	-5.4×	Dec 31, 2014
2013	$5.14B	$616.00M	8.3×	+4.0×	Dec 31, 2013
2012	$3.52B	$817.00M	4.3×	-1.9×	Dec 31, 2012
2011	$3.58B	$581.00M	6.2×	+1.9×	Dec 31, 2011
2010	$3.34B	$790.00M	4.2×	+1.0×	Dec 31, 2010
2009	$2.77B	$851.90M	3.3×	+0.4×	Dec 31, 2009
2008	$2.65B	$926.70M	2.9×	-1.3×	Dec 31, 2008
2007	$3.28B	$788.50M	4.2×	-0.6×	Dec 31, 2007
2006	$4.29B	$895.20M	4.8×	+1.6×	Dec 31, 2006
2005	$3.00B	$942.88M	3.2×	+0.7×	Dec 31, 2005
2004	$2.40B	$951.30M	2.5×	-0.2×	Dec 31, 2004
2003	$1.94B	$719.80M	2.7×	+0.6×	Dec 31, 2003
2002	$1.60B	$754.93M	2.1×	-0.5×	Dec 31, 2002
2001	$1.68B	$631.80M	2.7×	—	Dec 31, 2001


PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Progressive (PGR)	7.1×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
Interactive Brokers (IBKR)	6.9×
Invesco (IVZ)	6.9×
The Hartford (HIG)	6.5×
Commerce Bancshares (CBSH)	6.4×
Bank of America (BAC)	6.3×
Arch Capital Group (ACGL)	5.9×
JPMorgan Chase (JPM)	5.8×
Travelers Companies (TRV)	5.5×
Principal Financial Group (PFG)	5.5×
Everest Re Group (RE)	5.0×
Allstate (ALL)	4.7×
Everest Re Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
RenaissanceRe Holdings (RNR)	3.0×
MetLife (MET)	2.8×
Synchrony Financial (SYF)	2.4×
Atlantic Union Bankshares (AUB)	2.2×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for American Financial Group (AFG)

P/FCF Ratio daily chart for American Financial Group (AFG)

Historical P/FCF Ratio for American Financial Group (AFG) from 2001 to 2025

About P/FCF Ratio at American Financial Group (AFG)

American Financial Group P/FCF Ratio by Year

American Financial Group P/FCF Ratio 2025: 7.9×

American Financial Group P/FCF Ratio 2024: 10.0×

American Financial Group P/FCF Ratio 2023: 5.2×

American Financial Group P/FCF Ratio 2022: 11.0×

American Financial Group P/FCF Ratio 2021: 7.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

American Financial Group (AFG) Key Financials

P/FCF Ratio daily chart for American Financial Group (AFG)

Historical P/FCF Ratio for American Financial Group (AFG) from 2001 to 2025

About P/FCF Ratio at American Financial Group (AFG)

American Financial Group P/FCF Ratio by Year

American Financial Group P/FCF Ratio 2025: 7.9×

American Financial Group P/FCF Ratio 2024: 10.0×

American Financial Group P/FCF Ratio 2023: 5.2×

American Financial Group P/FCF Ratio 2022: 11.0×

American Financial Group P/FCF Ratio 2021: 7.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is American Financial Group's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for American Financial Group?

+Is American Financial Group's P/FCF ratio high or low?

+What is American Financial Group's historical P/FCF ratio range?

+What was American Financial Group's P/FCF ratio in 2025?

+Why does American Financial Group's P/FCF ratio change over time?

American Financial Group (AFG) Key Financials