American Financial Group, Inc.

AFGNYSEFinancial Services● Active

$131.95

$-0.51(-0.39%)

Market Cap$11.0B

P/E Ratio—

52W High$150.02

52W Low$121.75

Avg Volume492K

Open$131.29

Beta0.63

Free Cash Flow Financials Revenue

American Financial Group, Inc. (AFG) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AFG · free cash flow · updated Jun 8, 2026

Core FCF metrics

AFG · FCF · TTM · margin & CAGR

Free cash flow was $1.40B for FY2025 (fiscal year ending 2025-12-31), up 21.4% year-over-year The FCF margin was 17.1%. Five-year CAGR stands at -5.3%.

FY2025 Free Cash Flow$1.40B▲ +21.4% YoY

Trailing 12M (TTM)$1.57Btrailing 4 quarters sum

FCF Margin17.1%$1.40B ÷ revenue

3-Year CAGR+9.4%FY2022 → FY2025

5-Year CAGR-5.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AFG · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.53B(135M)$1.40B▲ +21.4%17.1%

FY2024$1.15B(0M)$1.15B▼ 39.3%13.9%

FY2023$1.97B(72M)$1.90B▲ +77.9%24.6%

FY2022$1.15B(86M)$1.07B▼ 31.8%15.8%

FY2021$1.71B(150M)$1.56B▼ 15.0%25.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AFG · P/FCF · FCF yield · FCF per share

American Financial Group, Inc. (AFG) trades at a FCF yield of 14.30% and a price-to-free-cash-flow ratio of 7.0x. FCF per share stands at $18.75, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

14.30%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$18.75

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x7.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AFG · cash flow statement · operating / investing / financing

For FY2025, American Financial Group, Inc. generated $1.53B in operating cash flow and spent 135M in capital expenditures, yielding $1.40B in free cash flow.

Operating Activities

+$1.53B

Cash from core business operations

2025-12-31

Investing Activities

−$835.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$377.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.53B) − |CapEx| (135M) = FCF ($1.40B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

AFG vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

American Financial Group, Inc.YOU

AFG

$1.40B+21.4%17.1%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

American Financial Group, Inc. (AFG) reported free cash flow of $1.40B for FY2025 (fiscal year ending 2025-12-31), up 21.4% year-over-year. The FCF margin was 17.1%.

Based on available data, American Financial Group, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.41B in FY2019. The 5-year CAGR stands at -5.3%.

American Financial Group, Inc.'s FCF yield is 14.30% and price-to-FCF ratio is 7.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AFG free cash flow · 8 questions

American Financial Group, Inc. free cash flow was $1.40B for FY2025, up 21.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.57B.

AFG free cash flowAFG FCFAFG FCF 2025AFG free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · American Financial Group, Inc. · American Financial Group, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026