UNITED FIRE GROUP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UNITED FIRE 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	996	1,053	1,070	1,201	1,069	1,066	980	1,095	1,253	1,386
Interest expense	0	0	0	0	0	3.19	3.19	3.26	7.28	11.3
Pre-tax income	57.5	15.7	-9.15	16.9	-170	96.8	12.1	-39.7	77	148
Income tax	8.38	-29.2	-11.4	2.06	-56.8	16.2	-2.95	-10	15.1	29.7
Income from continuing operations	49.1	44.9	2.26	14.8	-113	80.6	15	-29.7	62	118
Net income	49.9	51	27.7	14.8	-113	80.6	15	-29.7	62	118
EPS, basic	1.97	2.03	1.11	0.59	-4.50		0.60	-1.18	2.45	4.64
EPS, diluted	1.93	1.99	1.08	0.58	-4.50		0.59	-1.18	2.39	4.48
Shares, basic (weighted)	25.3	25.1	25	25.1	25	25.1	25.2	25.2	25.3	25.5
Shares, diluted (weighted)	25.8	25.6	25.6	25.6	25	25.5	25.3	25.2	25.9	26.4
Dividend per share	0.97	1.09	4.21	1.30	1.14	0.60	0.63	0.64	0.64	0.64

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	89.2	95.6	64.5	121	87.9	132	96.7	102	201	156
Property, plant and equipment	55.5	69	97.2	117	130	138	133	134	136	133
Lease right-of-use assets				15.4	18.6	29.8	26.5	29.2	21.4	12.8
Goodwill	15.1	15.1	15.1	15.1	0	0	0	0
Intangible assets	9.65	8.88	8.16	7.45	6.74	6.03	5.32	4.62	3.91	3.2
Total assets	4,055	4,183	2,817	3,013	3,070	3,013	2,882	3,144	3,488	3,841
Total liabilities	3,113	3,210	1,928	2,103	2,245	2,134	2,142	2,410	2,707	2,900
Total debt										146
Paid-in capital	216	196	203	200	202	203	207	210	216	224
Retained earnings	616	609	715	697	556	621	621	575	620	722
Other comprehensive income	109	168	-30.5	13.2	66.9	54.3	-87.5	-51	-54.8	-5.06
Shareholders' equity	942	973	888	910	825	879	740	734	782	941
Total equity	942	973	888	910	825	879	740	734	782	941
Total liabilities and equity	4,055	4,183	2,817	3,013	3,070	3,013	2,882	3,144	3,488	3,841
Shares outstanding	25.4	24.9	25.1	25	25.1	25.1	25.2	25.3	25.4	25.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	49.9	51	27.7	14.8	-113	80.6	15	-29.7	62	118
Depreciation and amortization	6.04	4.57	5.17	11.2	6.66	6.57	7.67	10.5	10.9	10.8
Stock-based compensation	3.7	4.81	5.25	6.15	4.99	3.44	2.83	3.25	5.52	9.03
Deferred income tax	3.33	-5.92	-16.2	10.1	-17.5	5.63	-3.93	-8.31	-8.39	-5.65
Cash from operations	214	170	110	93.8	41.4	29.9	-1.25	172	340	270
Purchases of investments			-507	-213	-438	-396	-284	-273	-873	-660
Sales and maturities of investments	324	192	122	266	319	264	184	80.1	179	259
Cash from investing	-112	-62	-19.2	4.5	-92.9	31.7	-19.2	-150	-292	-326
Debt issued			0	0	50	0	0	0	70	30
Stock issued	9.92	4.83	7.17	2.38	-0.07	-0.42	0.83	-0.29	0.35	-0.99
Share buybacks	-3.75	-29.8	-5.4	-11.7	-2.74	-2.01	0	0
Dividends paid	-24.6	-27.3	-105	-32.7	-28.5	-15.1	-15.9	-16.2	-16.2	-16.3
Cash from financing	-97.6	-108	-115	-42	18.7	-17.5	-15	-16.5	51.1	11.6
Net change in cash	4.4	0.56	-24.3	56.3	-32.8	44.2	-35.5	5.4	98.9	-44.6
Interest paid	0	0	0	0	0	0	3.19	3.26	7.17	11.3
Income taxes paid	24	7.67	29.1	1.58	0.14	5.36	21.5	1.35	16.1	23.6

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 $53.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	12.0%	Pre-tax income / revenue.
Net margin	9.6%	Net income / revenue.
Operating cash flow margin	18.4%	Cash from operations / revenue.
Effective tax rate	20.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.5%	Net income / average total assets.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	90.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	98.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	87.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	96.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	45.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.5%	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	-10.9%	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	20.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.3%	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	2.7%	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	10.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.0%	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	4.6%	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	1.7%	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	1.3%	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	1.0%	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	0.15x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.6%	Total debt / total assets.
Liabilities / assets	75.7%	Total liabilities / total assets.
Net debt	$6.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$974.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	11.5x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.44	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	$56.88	Revenue / diluted weighted shares.
Operating cash flow per share	$10.49	Cash from operations / diluted weighted shares.
Book value per share	$38.02	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$37.90	Tangible book value / shares outstanding.
Cash per share	$5.42	(Cash + short-term investments) / shares outstanding.
Payout ratio	13.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.37B	Share price x shares outstanding.
Enterprise value	$1.38B	Market cap + total debt - cash - short-term investments.
P/E	9.73x	Market cap / net income. Only when net income is positive.
P/S	0.93x	Market cap / revenue.
P/B	1.40x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.41x	Market cap / tangible book value, when positive.
P/OCF	5.05x	Market cap / cash from operations, when positive.
EV/Sales	0.94x	Enterprise value / revenue.
Earnings yield	10.3%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	1.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.10x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was UNITED FIRE GROUP INC's revenue in fiscal 2025?

UNITED FIRE GROUP INC reported revenue of $1.39B for fiscal 2025, 10.6% higher than the year before.

Was UNITED FIRE GROUP INC profitable in fiscal 2025?

Yes. Net income was $118.2M, a net margin of 8.5%.

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 UNITED FIRE GROUP INC