TRAVELERS COMPANIES, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TRAVELERS COMPANIES, 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	27,625	28,902	30,282	31,581	31,981	34,816	36,884	41,364	46,423	48,828
Selling, general and administrative	4,154	4,170	4,297	4,365	4,509	4,677	4,810	5,176	5,819	6,120
Interest expense	363	369	352	344	339	340	351	376	392	425
Pre-tax income	4,053	2,730	2,961	3,138	3,237	4,458	3,354	3,371	6,180	7,796
Income tax	1,039	674	438	516	540	796	512	380	1,181	1,508
Net income	3,014	2,056	2,523	2,622	2,697	3,662	2,842	2,991	4,999	6,288
EPS, basic	10.39	7.39	9.37	10.01	10.56	14.63	11.91	12.93	21.76	27.83
EPS, diluted	10.28	7.33	9.28	9.92	10.52	14.49	11.77	12.79	21.47	27.43
Shares, basic (weighted)	288	276	267	260	254	249	237	230	228	224
Shares, diluted (weighted)	291	279	270	262	255	251	240	232	231	228
Dividend per share	2.62	2.83

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	307	344	373	494	721	761	799	650	699	842
Goodwill	3,580	3,951	3,937	3,961	3,976	4,008	3,952	3,976	4,233	4,066
Intangible assets	268	342	345	330	317	306	287	277	360	336
Total assets	100,245	103,483	104,233	110,122	116,764	120,466	115,717	125,978	133,189	143,708
Short-term debt	550	600	600	600	100	100	100	100	100	300
Total liabilities	77,024	79,752	81,339	84,179	87,563	91,579	94,157	101,057	105,325	110,814
Paid-in capital			0	0
Retained earnings	32,196	33,462	35,204	36,977	38,771	41,555	43,516	45,591	49,630	54,931
Treasury stock	-30,834	-32,274	-33,595	-35,143	-35,815	-38,015	-40,076	-41,105	-42,251	-45,447
Other comprehensive income	-755	-343	-1,859	640	2,502	1,193	-6,445	-4,471	-4,967	-2,500
Shareholders' equity	23,221	23,731	22,894	25,943	29,201	28,887	21,560	24,921	27,864	32,894
Total equity	23,221	23,731	22,894	25,943	29,201	28,887	21,560	24,921	27,864	32,894
Total liabilities and equity	100,245	103,483	104,233	110,122	116,764	120,466	115,717	125,978	133,189	143,708
Shares outstanding	280	271	264	256	252	241	232	228	227	218

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	3,014	2,056	2,523	2,622	2,697	3,662	2,842	2,991	4,999	6,288
Depreciation and amortization	826	813	803	763	789	870	826	722	715	680
Stock-based compensation	155	136	140	142	148	162	183	214	260	256
Deferred income tax	111	279	-35	-43	-31	64	-229	-124	-155	231
Cash from operations	4,469	4,148	4,380	5,205	6,519	7,274	6,465	7,711	9,074	10,606
Acquisitions		-439	-4	0	0	-38	-4	0	-382	0
Purchases of investments	-11,609	-12,250	-13,526	-10,711	-14,073	-18,153	-15,908	-15,690	-17,132	-18,771
Sales and maturities of investments	8,975	8,750	7,086	6,845	7,387	8,852	6,837	6,371	8,537	11,660
Cash from investing	-1,727	-2,202	-2,329	-2,902	-4,892	-5,196	-3,728	-6,821	-7,264	-7,652
Debt repaid	-400	-657	-600	-500	-500	0	0
Stock issued	332	173	132	213	127	293	267	141	321	214
Share buybacks	-2,400	-1,378	-1,270	-1,500	-625	-2,156	-2,000	-958	-1,003	-3,004
Dividends paid	-757	-785	-814	-844	-861	-869	-875	-908	-951	-979
Cash from financing	-2,806	-1,920	-2,012	-2,187	-1,416	-2,037	-2,669	-1,051	-1,747	-2,663
Exchange rate effect		11	-10	5	16	-1	-30
Net change in cash		37	29	121	227	40	38	-149	49	314
Interest paid	358	367	347	338	339	337	349	370	390	393
Income taxes paid	892	514	408	428	578	707	817	201	1,310	1,274

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $363.04 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	21.1%	Pre-tax income / revenue.
Net margin	17.0%	Net income / revenue.
Operating cash flow margin	22.5%	Cash from operations / revenue.
Effective tax rate	19.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	25.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.8%	Net income / average total assets.
SG&A / revenue	12.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	1.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	25.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	30.3%	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	18.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	27.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	32.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	21.1%	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	16.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	17.9%	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	10.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	18.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.1%	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	2.4%	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	7.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.5%	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	4.2%	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	-1.5%	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	-1.7%	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	-2.2%	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
Liabilities / assets	76.9%	Total liabilities / total assets.
Goodwill and intangibles / assets	3.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$28.74B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.34x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$38.87	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	$229.30	Revenue / diluted weighted shares.
Operating cash flow per share	$51.62	Cash from operations / diluted weighted shares.
Book value per share	$158.78	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$137.76	Tangible book value / shares outstanding.
Cash per share	$2.98	(Cash + short-term investments) / shares outstanding.
Payout ratio	11.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$75.72B	Share price x shares outstanding.
Enterprise value	$75.10B	Market cap + total debt - cash - short-term investments.
P/E	9.12x	Market cap / net income. Only when net income is positive.
P/S	1.55x	Market cap / revenue.
P/B	2.29x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.64x	Market cap / tangible book value, when positive.
P/OCF	6.87x	Market cap / cash from operations, when positive.
EV/Sales	1.53x	Enterprise value / revenue.
Earnings yield	11.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	8.4%	(Dividends paid + share buybacks) / market cap.
PEG	0.28x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was TRAVELERS COMPANIES, INC.'s revenue in fiscal 2025?

TRAVELERS COMPANIES, INC. reported revenue of $48.83B for fiscal 2025, 5.2% higher than the year before.

Was TRAVELERS COMPANIES, INC. profitable in fiscal 2025?

Yes. Net income was $6.29B, a net margin of 12.9%.

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.

Open interactive statements, quarterly figures and charts

Back to TRAVELERS COMPANIES, INC.