How does American Financial Group (AFG) make money?

American Financial Group (AFG) generates revenue primarily from Property and Casualty Insurance, which accounted for 95.5% of total revenue in TTM through Q1 2026. The company reported $8.15B in revenue and converted 10.8% of it into net profit, equivalent to roughly $879.00M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of American Financial Group (AFG)?

American Financial Group (AFG) reported a gross profit margin of 32.4% in TTM through Q1 2026, equivalent to $2.64B in gross profit on $8.15B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of American Financial Group (AFG)?

American Financial Group (AFG) reported an operating profit margin of 13.7% in TTM through Q1 2026, equivalent to $1.11B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of American Financial Group (AFG)?

American Financial Group (AFG) reported a net profit margin of 10.8% in TTM through Q1 2026, equivalent to $879.00M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is American Financial Group (AFG) profitable?

Yes. American Financial Group (AFG) reported $879.00M in net income for TTM through Q1 2026, with a net profit margin of 10.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does American Financial Group (AFG) spend on capital expenditures?

American Financial Group (AFG) spent $94.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.2% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does American Financial Group (AFG) generate?

American Financial Group (AFG) generated $1.57B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 19.3%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of American Financial Group (AFG)?

American Financial Group (AFG) had an effective tax rate of 21.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of American Financial Group (AFG)?

American Financial Group (AFG) reports revenue across 2 reportable product segments, led by Property and Casualty Insurance at 95.5% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How American Financial Group Makes Money: 2026 Visual Revenue Map

American Financial Group (AFG) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 7, 2026).

American Financial Group discloses geographic revenue only in annual filings. to view the full breakdown.

American Financial Group (AFG) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for American Financial Group (AFG) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Property and Casualty Insurance	$7.78B	95.5%
Corporate and Other	$369.59M	4.5%
Total	$8.15B	100%

Property and Casualty Insurance$7.78B
Corporate and Other$369.59M
Total$8.15B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, American Financial Group (AFG) reports revenue across 2 operating segments; the largest segment was Property and Casualty Insurance at 95.5%, followed by Corporate and Other (4.5%).

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Data & methodology

American Financial Group (AFG) Key Financials

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American Financial Group (AFG) Income Statement Flow — TTM through Q1 2026

American Financial Group (AFG) Revenue by Product Segment — TTM through Q1 2026

Revenue Breakdown — TTM through Q1 2026

Frequently asked questions

+How does American Financial Group (AFG) make money?

+What is the gross profit margin of American Financial Group (AFG)?

+What is the operating profit margin of American Financial Group (AFG)?

+What is the net profit margin of American Financial Group (AFG)?

+Is American Financial Group (AFG) profitable?

+How much does American Financial Group (AFG) spend on capital expenditures?

+How much free cash flow does American Financial Group (AFG) generate?

+What is the effective tax rate of American Financial Group (AFG)?

+What are the main business segments of American Financial Group (AFG)?

Data & methodology

+What is a Sankey diagram?

+How is the data calculated?

+Where do segment and geographic numbers come from?

+When was this data last updated?

American Financial Group (AFG) Key Financials

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