HARTFORD INSURANCE GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HARTFORD INSURANCE GROUP, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	16,291	17,162	18,955	20,740	20,523	22,390	22,362	24,527	26,535	28,368
Selling, general and administrative			4,281	4,580	4,480	4,791	4,841	4,881	5,258	5,584
Operating expenses	3,525	4,563	4,281	4,580
Interest expense	327	316	298	259	236	234	213	199	199	199
Pre-tax income	447	723	1,753	2,560	2,120	2,905	2,262	3,088	3,849	4,760
Income tax	-166	985	268	475	383	534	443	584	738	924
Income from continuing operations	613	-262	1,485	2,085	1,737	2,365
Net income	896	-3,131	1,807	2,085	1,737	2,371	1,819	2,504	3,111	3,836
EPS, basic	2.31	-8.61	5.03	5.72	4.79	6.73	5.54	8.09	10.51	13.51
EPS, diluted	2.27	-8.61	4.95	5.66	4.76	6.64	5.46	7.97	10.35	13.32
Shares, basic (weighted)	388	364	358	361	358	349	325	307	294	282
Shares, diluted (weighted)	395	364	364	365	361	354	330	312	299	287
Dividend per share	0.86	0.94	1.10	1.20	1.30	1.44	1.58	1.75	1.93	2.16

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	328	180	121	262	239	337	344	189	234	166
Short-term investments	3,244
Property, plant and equipment	991	1,034	1,006	1,181	1,122	1,027	927	896	888	924
Lease right-of-use assets				191		167	135	141	140	159
Goodwill	567	1,290	1,290	1,913	1,911	1,911	1,911	1,911	1,911	1,639
Intangible assets	44	659	657	1,070	950	858	778	707	637	566
Total assets	224,576	225,260	62,307	70,817	74,111	76,578	73,008	76,780	80,917	86,029
Short-term debt	416	320	413	500	0	0
Long-term debt	4,493	4,678	4,265	4,348	4,352	4,944	4,357	4,362	4,366	4,371
Total liabilities	207,673	211,766	49,206	54,547	55,555	58,735	59,332	61,453	64,470	67,050
Total debt	4,494	4,678	4,265	4,348	4,352	4,944	4,357	4,362	4,366	4,371
Paid-in capital	5,247	4,379	4,378	4,312	4,322	3,309	1,895	648	578	549
Retained earnings	13,114	9,642	11,055	12,685	13,918	15,770	17,058	19,007	21,531	24,739
Treasury stock	-1,125	-1,194	-1,091	-1,117	-1,192	-1,740	-1,773	-1,816	-3,113	-4,589
Other comprehensive income	-337	663	-1,579	52	1,170	128	-3,841	-2,849	-2,886	-2,057
Shareholders' equity	16,903	13,494	13,101	16,270	18,556	17,805	13,676	15,327	16,447	18,979
Total equity	-337	13,494	13,101	16,270	18,556	17,805	13,676	15,327	16,447	18,979
Total liabilities and equity	224,576	225,260	62,307	70,817	74,111	76,578	73,008	76,780	80,917	86,029

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	896	-3,131	1,807	2,085	1,737	2,371	1,819	2,504	3,111	3,836
Depreciation and amortization	398	399	467	451	562	680	625	510	356	396
Stock-based compensation	81	116	130	125	116	128	131	125	133	141
Deferred income tax	-176	868	286	467	-27	46	-106	2	-47	109
Cash from operations	2,066	2,186	2,843	3,489	3,871	4,093	4,008	4,220	5,909	5,922
Capital expenditures	-224	-250	-122	-105	-114	-133	-175	-215	-145	-169
Acquisitions	-175	-1,423	0	-1,901	0	0
Purchases of investments	-21,844	-30,923	-23,173	-19,881	-21,112	-21,754	-14,255	-9,105	-14,023	-12,769
Sales and maturities of investments	24,486	31,646	24,700	18,499	19,534	22,457	14,996	6,806	10,808	10,352
Cash from investing	949	-1,442	-1,962	-2,148	-2,066	-2,466	-1,277	-2,431	-3,768	-3,758
Debt repaid	-275
Stock issued				24	3	45	26	47	92	36
Share buybacks	-1,330	-1,028	0	-200	-150	-1,702	-1,550	-1,400	-1,514	-1,615
Dividends paid	-334	-341	-379	-433	-457	-485	-506	-528	-556	-592
Cash from financing	-2,541	-979	-1,467	-1,191	-1,778	-1,581	-2,710	-1,947	-2,076	-2,235
Exchange rate effect	-40	70	-10	-9	8	-6
Net change in cash	185	-148	-59	141	-23	98	7	-155	45	-57
Free cash flow	1,842	1,936	2,721	3,384	3,757	3,960	3,833	4,005	5,764	5,753
Interest paid	336	322	292	261	232	214	212	209	211	206
Income taxes paid	130	-6	-9	-396	-71	496	548	622	812	863

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $136.36 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	18.5%	Pre-tax income / revenue.
Net margin	15.6%	Net income / revenue.
Operating cash flow margin	23.6%	Cash from operations / revenue.
Effective tax rate	20.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	24.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.3%	Net income / average total assets.
SG&A / revenue	20.0%	Selling, general and administrative expense / revenue.
D&A / revenue	1.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	23.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	28.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	17.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	28.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	34.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	22.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	0.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-0.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	14.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	8.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	11.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	11.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	10.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	15.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-4.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	5.0%	Total debt / total assets.
Liabilities / assets	78.3%	Total liabilities / total assets.
Net debt	$4.20B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$17.23B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.34x	Revenue / average total assets.
Fixed asset turnover	34.3x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$16.87	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$108.40	Revenue / diluted weighted shares.
Operating cash flow per share	$25.61	Cash from operations / diluted weighted shares.
Book value per share	$69.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$63.11	Tangible book value / shares outstanding.
Cash per share	$0.65	(Cash + short-term investments) / shares outstanding.
Payout ratio	13.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$36.93B	Share price x shares outstanding.
Enterprise value	$41.13B	Market cap + total debt - cash - short-term investments.
P/E	8.02x	Market cap / net income. Only when net income is positive.
P/S	1.25x	Market cap / revenue.
P/B	1.96x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.14x	Market cap / tangible book value, when positive.
P/OCF	5.28x	Market cap / cash from operations, when positive.
EV/Sales	1.39x	Enterprise value / revenue.
Earnings yield	12.5%	Net income / market cap (the inverse of P/E).
Dividend yield	1.7%	Dividends paid over the period / market cap.
Shareholder yield	6.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.23x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was HARTFORD INSURANCE GROUP, INC.'s revenue in fiscal 2025?

HARTFORD INSURANCE GROUP, INC. reported revenue of $28.37B for fiscal 2025, 6.9% higher than the year before.

Was HARTFORD INSURANCE GROUP, INC. profitable in fiscal 2025?

Yes. Net income was $3.84B, a net margin of 13.5%.

How much free cash flow did HARTFORD INSURANCE GROUP, INC. generate in fiscal 2025?

Cash from operations of $5.92B minus capital expenditures of $169.0M left free cash flow of $5.75B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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