NASDAQ : UFCS
United Fire Group, Inc. — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 56.99 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.46B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.37B | 1.29B | 1.18B | 1.03B | 951.54M | 962.82M |
| Total Interest & Dividend Income | 109.86M | 99.02M | 80.54M | 62.47M | 52.86M | 46.08M |
| Gain (Loss) on Sale of Investments | -4.23M | -5.30M | -3.98M | -1.59M | -23.82M | 57.08M |
| Other Revenue | 780.00K | -295.00K | 207.00K | |||
| Total Revenue | 1.47B | 1.39B | 1.25B | 1.10B | 980.29M | 1.07B |
| Policy Benefits | 801.37M | 764.40M | 744.61M | 769.41M | 637.30M | 652.15M |
| Policy Acquisition & Underwriting Costs | 482.11M | 462.81M | 424.39M | 362.51M | 327.72M | 313.54M |
| Other Operating Expenses | 471.00K | |||||
| Total Operating Expenses | 1.28B | 1.23B | 1.17B | 1.13B | 965.02M | 966.16M |
| Operating Income | 189.50M | 159.20M | 84.31M | -36.46M | 15.27M | 100.03M |
| Interest Expense | -12.67M | -11.27M | -7.28M | -3.26M | -3.19M | -3.19M |
| EBT Excluding Unusual Items | 176.84M | 147.94M | 77.03M | -39.72M | 12.08M | 96.84M |
| Pretax Income | 176.84M | 147.94M | 77.03M | -39.72M | 12.08M | 96.84M |
| Income Tax Expense | 35.88M | 29.75M | 15.08M | -10.02M | -2.95M | 16.25M |
| Earnings From Continuing Ops. | 140.96M | 118.19M | 61.96M | -29.70M | 15.03M | 80.59M |
| Net Income | 140.96M | 118.19M | 61.96M | -29.70M | 15.03M | 80.59M |
| Net Income to Common | 140.96M | 118.19M | 61.96M | -29.70M | 15.03M | 80.59M |
| Shares Outstanding (Basic) | 25.56M | 25.47M | 25.32M | 25.25M | 25.16M | 25.09M |
| Shares Outstanding (Diluted) | 26.11M | 26.35M | 25.92M | 25.25M | 25.32M | 25.52M |
| EPS (Basic) | 5.51 | 4.64 | 2.45 | -1.18 | 0.60 | 3.21 |
| EPS (Diluted) | 5.39 | 4.48 | 2.39 | -1.18 | 0.59 | 3.16 |
| Free Cash Flow | 268.44M | 263.30M | 328.43M | 160.85M | -3.39M | 15.94M |
| Free Cash Flow Per Share | 10.28 | 9.99 | 12.67 | 6.37 | -0.13 | 0.62 |
| Dividend Per Share | 0.72 | 0.64 | 0.64 | 0.64 | 0.63 | 0.60 |
| Operating Margin | 12.86% | 11.48% | 6.73% | -3.33% | 1.56% | 9.38% |
| Profit Margin | 9.57% | 8.53% | 4.94% | -2.71% | 1.53% | 7.56% |
| Free Cash Flow Margin | 18.22% | 18.99% | 26.21% | 14.68% | -0.35% | 1.49% |
| EBITDA | 200.88M | 169.97M | 95.22M | -25.95M | 22.93M | 106.60M |
| EBITDA Margin | 13.64% | 12.26% | 7.60% | -2.37% | 2.34% | 10.00% |
| D&A For EBITDA | 11.38M | 10.77M | 10.90M | 10.51M | 7.67M | 6.57M |
| EBIT | 189.50M | 159.20M | 84.31M | -36.46M | 15.27M | 100.03M |
| EBIT Margin | 12.86% | 11.48% | 6.73% | -3.33% | 1.56% | 9.38% |
| Effective Tax Rate | 20.29% | 20.11% | 19.57% | 16.78% | ||
| Revenue as Reported | 1.47B | 1.39B | 1.25B | 1.10B | 980.29M | 1.07B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 2.28B | 2.21B | 1.87B | 1.69B | 1.55B | 1.72B |
| Investments in Equity & Preferred Securities | 55.02M | 169.11M | 213.40M | |||
| Other Investments | 220.93M | 228.51M | 183.84M | 99.61M | 86.55M | 84.36M |
| Total Investments | 2.53B | 2.46B | 2.09B | 1.89B | 1.84B | 2.06B |
| Cash & Equivalents | 139.44M | 156.33M | 200.95M | 102.05M | 96.65M | 132.10M |
| Reinsurance Recoverable | 236.19M | 238.51M | 230.83M | 223.27M | 170.95M | 127.81M |
| Other Receivables | 618.35M | 516.70M | 480.78M | 502.19M | 411.63M | 362.55M |
| Deferred Policy Acquisition Cost | 175.89M | 158.18M | 147.22M | 126.53M | 104.22M | 91.45M |
| Property, Plant & Equipment | 128.06M | 145.43M | 157.43M | 163.43M | 159.59M | 167.53M |
| Other Intangible Assets | 3.02M | 3.20M | 3.91M | 4.62M | 5.32M | 6.03M |
| Other Current Assets | 34.38M | 32.36M | 44.89M | 27.68M | 11.30M | 9.33M |
| Long-Term Deferred Tax Assets | 19.69M | 15.45M | 23.02M | 13.62M | 15.53M | |
| Other Long-Term Assets | 124.36M | 109.96M | 106.35M | 94.31M | 62.20M | 51.24M |
| Total Assets | 4.01B | 3.84B | 3.49B | 3.14B | 2.88B | 3.01B |
| Accrued Expenses | 149.25M | 155.23M | 149.78M | 142.64M | 93.59M | 72.48M |
| Unpaid Claims | 1.99B | 1.92B | 1.80B | 1.64B | 1.50B | 1.51B |
| Unearned Premiums | 749.51M | 660.21M | 621.45M | 549.38M | 474.39M | 439.73M |
| Current Portion of Leases | 7.61M | 9.17M | 9.36M | 8.45M | 8.30M | |
| Current Income Taxes Payable | 1.50M | |||||
| Long-Term Debt | 146.35M | 146.20M | 117.06M | 50.00M | 50.00M | 50.00M |
| Long-Term Leases | 5.54M | 12.70M | 20.31M | 18.47M | 22.07M | |
| Long-Term Deferred Tax Liabilities | 26.75M | |||||
| Total Liabilities | 3.04B | 2.90B | 2.71B | 2.41B | 2.14B | 2.13B |
| Common Stock | 26.00K | 25.00K | 25.00K | 25.00K | 25.00K | 25.00K |
| Additional Paid-In Capital | 226.95M | 223.89M | 215.85M | 209.99M | 207.03M | 203.38M |
| Retained Earnings | 775.38M | 722.32M | 620.44M | 574.69M | 620.55M | 621.38M |
| Comprehensive Income & Other | -25.02M | -5.06M | -54.78M | -50.96M | -87.50M | 54.34M |
| Shareholders' Equity | 977.34M | 941.17M | 781.53M | 733.75M | 740.11M | 879.12M |
| Total Liabilities & Equity | 4.01B | 3.84B | 3.49B | 3.14B | 2.88B | 3.01B |
| Filing Date Shares Outstanding | 25.71M | 25.52M | 25.38M | 25.28M | 25.22M | 25.10M |
| Total Common Shares Outstanding | 25.70M | 25.52M | 25.38M | 25.27M | 25.21M | 25.08M |
| Total Debt | 146.35M | 159.35M | 138.93M | 79.67M | 76.92M | 80.37M |
| Net Cash (Debt) | -6.91M | -3.02M | 62.02M | 22.38M | 19.73M | 51.73M |
| Net Cash Per Share | -0.26 | -0.11 | 2.39 | 0.89 | 0.78 | 2.03 |
| Book Value Per Share | 38.02 | 36.88 | 30.80 | 29.04 | 29.36 | 35.05 |
| Tangible Book Value | 974.32M | 937.97M | 777.62M | 729.13M | 734.79M | 873.09M |
| Tangible Book Value Per Share | 37.90 | 36.75 | 30.64 | 28.85 | 29.15 | 34.81 |
| Land | 1.20M | 1.20M | 78.68M | 80.35M | 87.89M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 140.96M | 118.19M | 61.96M | -29.70M | 15.03M | 80.59M |
| Depreciation & Amortization | 11.38M | 10.77M | 10.90M | 10.51M | 7.67M | 6.57M |
| Gain (Loss) on Sale of Investments | 4.24M | 5.83M | 10.43M | 5.54M | 24.62M | -33.79M |
| Stock-Based Compensation | 10.63M | 9.03M | 5.52M | 3.25M | 2.83M | 3.44M |
| Change in Accounts Receivable | -87.03M | -47.12M | 13.99M | -99.06M | -48.96M | 521.00K |
| Reinsurance Recoverable | 11.63M | -7.68M | -7.56M | -52.32M | -43.14M | 32.73M |
| Change in Unearned Revenue | 49.83M | 38.76M | 72.06M | 75.00M | 34.66M | -25.11M |
| Change in Income Taxes | 6.94M | 13.65M | 7.28M | 9.96M | 960.00K | 33.82M |
| Change in Deferred Taxes | -652.00K | -464.00K | ||||
| Change in Insurance Reserves / Liabilities | 130.29M | 128.04M | 158.03M | 141.48M | -16.99M | -63.87M |
| Change in Other Net Operating Assets | 4.81M | 16.88M | -19.61M | 21.62M | 9.71M | -44.22M |
| Other Operating Activities | 1.79M | -5.65M | 47.99M | 107.77M | 25.80M | 44.04M |
| Operating Cash Flow | 271.55M | 269.74M | 340.30M | 171.74M | -1.25M | 29.92M |
| Capital Expenditures | -3.11M | -6.45M | -11.87M | -10.89M | -2.14M | -13.98M |
| Investment in Securities | -339.62M | -319.52M | -280.62M | -130.86M | -16.93M | 45.71M |
| Investing Cash Flow | -342.73M | -325.96M | -292.49M | -149.89M | -19.17M | 31.73M |
| Long-Term Debt Issued | 30.00M | 70.00M | ||||
| Total Debt Repaid | -1.10M | -1.10M | -3.05M | |||
| Net Debt Issued (Repaid) | 28.90M | 28.90M | 66.95M | |||
| Issuance of Common Stock | 348.00K | 828.00K | ||||
| Repurchases of Common Stock | -2.01M | |||||
| Common Dividends Paid | -18.42M | -16.31M | -16.21M | -16.16M | -15.86M | -15.06M |
| Other Financing Activities | -2.01M | -993.00K | -290.00K | -421.00K | ||
| Financing Cash Flow | 8.47M | 11.60M | 51.09M | -16.45M | -15.03M | -17.49M |
| Net Cash Flow | -62.70M | -44.62M | 98.90M | 5.40M | -35.45M | 44.16M |
| Free Cash Flow | 268.44M | 263.30M | 328.43M | 160.85M | -3.39M | 15.94M |
| Free Cash Flow Margin | 18.22% | 18.99% | 26.21% | 14.68% | -0.35% | 1.49% |
| Free Cash Flow Per Share | 10.28 | 9.99 | 12.67 | 6.37 | -0.13 | 0.62 |
| Levered Free Cash Flow | 255.64M | -1.12B | 286.57M | 84.49M | -39.51M | 4.50M |
| Unlevered Free Cash Flow | 263.56M | -1.11B | 291.12M | 86.52M | -37.52M | 6.49M |
| Cash Interest Paid | 12.62M | 11.27M | 7.17M | 3.26M | 3.19M | 3.19M |
| Cash Income Tax Paid | 27.50M | 23.55M | 16.11M | 1.35M | 21.55M | 5.36M |
| Change in Working Capital | 102.55M | 131.57M | 203.50M | 74.36M | -77.19M | -70.95M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.46B | 927.45M | 720.98M | 508.34M | 689.40M | 581.63M |
| Enterprise Value | 1.47B | 839.84M | 640.62M | 489.19M | 686.38M | 498.85M |
| PE Ratio | 10.54 | 7.85 | 11.64 | 45.87 | 7.22 | |
| PS Ratio | 0.99 | 0.67 | 0.57 | 0.46 | 0.70 | 0.55 |
| PB Ratio | 1.49 | 0.98 | 0.92 | 0.69 | 0.93 | 0.66 |
| P/FCF Ratio | 5.44 | 3.52 | 2.19 | 3.16 | 36.49 | |
| P/OCF Ratio | 5.38 | 3.44 | 2.12 | 2.96 | 19.44 | |
| EV/Sales Ratio | 1.00 | 0.61 | 0.51 | 0.45 | 0.70 | 0.47 |
| EV/EBITDA Ratio | 7.31 | 4.94 | 6.73 | 29.93 | 4.68 | |
| EV/EBIT Ratio | 7.75 | 5.28 | 7.60 | 44.96 | 4.99 | |
| EV/FCF Ratio | 5.47 | 3.19 | 1.95 | 3.04 | 31.29 | |
| Debt / Equity Ratio | 0.15 | 0.17 | 0.18 | 0.11 | 0.10 | 0.09 |
| Debt / EBITDA Ratio | 0.70 | 0.89 | 1.33 | 2.45 | 0.71 | |
| Debt / FCF Ratio | 0.55 | 0.60 | 0.42 | 0.49 | 5.04 | |
| Net Debt / Equity Ratio | 0.01 | 0.00 | -0.08 | -0.03 | -0.03 | -0.06 |
| Net Debt / EBITDA Ratio | 0.03 | 0.02 | -0.65 | 0.86 | -0.86 | -0.48 |
| Net Debt / FCF Ratio | 0.03 | 0.01 | -0.19 | -0.14 | 5.82 | -3.25 |
| Quick Ratio | 0.26 | 0.47 | 0.26 | 0.25 | 0.24 | 0.24 |
| Current Ratio | 0.36 | 0.68 | 0.37 | 0.36 | 0.33 | 0.31 |
| Asset Turnover | 0.38 | 0.38 | 0.38 | 0.36 | 0.33 | 0.35 |
| Return on Equity (ROE) | 15.47% | 13.72% | 8.18% | -4.03% | 1.86% | 9.46% |
| Return on Assets (ROA) | 3.09% | 2.71% | 1.59% | -0.76% | 0.32% | 2.06% |
| Return on Invested Capital (ROIC) | 13.61% | 12.59% | 7.82% | -4.47% | 1.72% | 8.98% |
| Earnings Yield | 9.49% | 12.74% | 8.59% | -5.84% | 2.18% | 13.86% |
| FCF Yield | 18.38% | 28.39% | 45.55% | 31.64% | -0.49% | 2.74% |
| Dividend Yield | 1.41% | 1.76% | 2.25% | 3.18% | 2.30% | 2.59% |
| Payout Ratio | 14.09% | 13.80% | 26.17% | 105.52% | 18.69% | |
| Buyback Yield / Dilution | 0.14% | -1.68% | -2.65% | 0.27% | 0.79% | -1.97% |
| Total Shareholder Return | 1.55% | 0.08% | -0.40% | 3.45% | 3.09% | 0.62% |