NYSE : TRV
The Travelers Companies, Inc. — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 398.27 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 81.62B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 43.61B | 43.91B | 41.94B | 37.76B | 33.76B | 30.86B |
| Total Interest & Dividend Income | 4.23B | 3.96B | 3.59B | 2.92B | 2.56B | 3.03B |
| Gain (Loss) on Sale of Investments | 55.00M | -48.00M | -30.00M | -105.00M | -204.00M | 171.00M |
| Other Revenue | 1.03B | 1.00B | 922.00M | 786.00M | 763.00M | 757.00M |
| Total Revenue | 48.92B | 48.83B | 46.42B | 41.36B | 36.88B | 34.82B |
| Policy Benefits | 24.62B | 27.22B | 27.06B | 26.21B | 22.85B | 20.30B |
| Policy Acquisition & Underwriting Costs | 7.25B | 7.27B | 6.97B | 6.23B | 5.51B | 5.04B |
| Selling, General & Administrative | 6.23B | 6.12B | 5.82B | 5.18B | 4.81B | 4.68B |
| Total Operating Expenses | 38.10B | 40.61B | 39.85B | 37.62B | 33.18B | 30.02B |
| Operating Income | 10.82B | 8.22B | 6.57B | 3.75B | 3.71B | 4.80B |
| Interest Expense | -463.00M | -425.00M | -392.00M | -376.00M | -351.00M | -340.00M |
| EBT Excluding Unusual Items | 10.36B | 7.80B | 6.18B | 3.37B | 3.35B | 4.46B |
| Pretax Income | 10.36B | 7.80B | 6.18B | 3.37B | 3.35B | 4.46B |
| Income Tax Expense | 2.03B | 1.51B | 1.18B | 380.00M | 512.00M | 796.00M |
| Net Income | 8.33B | 6.29B | 5.00B | 2.99B | 2.84B | 3.66B |
| Preferred Dividends & Other Adjustments | 60.00M | 46.00M | 38.00M | 22.00M | 20.00M | 27.00M |
| Net Income to Common | 8.27B | 6.24B | 4.96B | 2.97B | 2.82B | 3.63B |
| Shares Outstanding (Basic) | 213.18M | 224.20M | 228.00M | 229.70M | 237.00M | 248.50M |
| Shares Outstanding (Diluted) | 216.57M | 227.60M | 231.10M | 232.20M | 239.70M | 250.80M |
| EPS (Basic) | 38.80 | 27.84 | 21.76 | 12.93 | 11.91 | 14.63 |
| EPS (Diluted) | 38.19 | 27.43 | 21.47 | 12.79 | 11.77 | 14.49 |
| Dividend Per Share | 4.70 | 4.35 | 4.15 | 3.93 | 3.67 | 3.49 |
| Operating Margin | 22.12% | 16.84% | 14.16% | 9.06% | 10.04% | 13.78% |
| Profit Margin | 16.91% | 12.78% | 10.69% | 7.18% | 7.65% | 10.44% |
| EBITDA | 11.52B | 8.90B | 7.29B | 4.47B | 4.53B | 5.67B |
| EBITDA Margin | 23.55% | 18.23% | 15.70% | 10.80% | 12.28% | 16.28% |
| D&A For EBITDA | 699.00M | 680.00M | 715.00M | 722.00M | 826.00M | 870.00M |
| EBIT | 10.82B | 8.22B | 6.57B | 3.75B | 3.71B | 4.80B |
| EBIT Margin | 22.12% | 16.84% | 14.16% | 9.06% | 10.04% | 13.78% |
| Effective Tax Rate | 19.56% | 19.34% | 19.11% | 11.27% | 15.27% | 17.86% |
| Revenue as Reported | 48.92B | 48.83B | 46.42B | 41.36B | 36.88B | 34.82B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 89.37B | 89.83B | 83.67B | 77.81B | 71.16B | 77.81B |
| Investments in Equity & Preferred Securities | 640.00M | 618.00M | 687.00M | 608.00M | 1.10B | 893.00M |
| Other Investments | 9.69B | 9.83B | 8.97B | 9.44B | 7.25B | 7.69B |
| Total Investments | 100.59B | 101.18B | 94.22B | 88.81B | 80.45B | 87.37B |
| Cash & Equivalents | 619.00M | 710.00M | 568.00M | 500.00M | 799.00M | 761.00M |
| Reinsurance Recoverable | 8.08B | 7.89B | 8.00B | 8.14B | 8.06B | 8.45B |
| Other Receivables | 13.00B | 11.87B | 11.86B | 10.97B | 9.60B | 8.70B |
| Deferred Policy Acquisition Cost | 3.76B | 3.52B | 3.49B | 3.31B | 2.84B | 2.54B |
| Goodwill | 4.06B | 4.07B | 4.23B | 3.98B | 3.95B | 4.01B |
| Other Intangible Assets | 326.00M | 336.00M | 360.00M | 277.00M | 287.00M | 306.00M |
| Restricted Cash | 147.00M | 132.00M | 131.00M | 150.00M | ||
| Other Current Assets | 3.04B | 7.56B | 3.17B | 3.25B | 3.58B | 3.89B |
| Long-Term Deferred Tax Assets | 2.27B | 887.00M | 1.76B | 1.50B | 1.88B | |
| Other Long-Term Assets | 6.20B | 5.56B | 5.38B | 5.09B | 4.27B | 4.43B |
| Total Assets | 142.09B | 143.71B | 133.19B | 125.98B | 115.72B | 120.47B |
| Insurance & Annuity Liabilities | 268.00M | 263.00M | 260.00M | 246.00M | 245.00M | |
| Unpaid Claims | 68.13B | 65.74B | 64.09B | 61.63B | 58.65B | 56.91B |
| Unearned Premiums | 23.52B | 22.43B | 22.29B | 20.87B | 18.24B | 16.47B |
| Reinsurance Payable | 828.00M | 529.00M | 550.00M | 518.00M | 419.00M | 384.00M |
| Current Portion of Leases | 69.00M | |||||
| Short-Term Debt | 100.00M | 300.00M | 100.00M | 100.00M | 100.00M | 100.00M |
| Current Income Taxes Payable | 309.00M | 301.00M | 285.00M | 119.00M | ||
| Long-Term Debt | 9.71B | 8.97B | 7.93B | 7.93B | 7.19B | 7.19B |
| Long-Term Leases | 176.00M | |||||
| Long-Term Deferred Tax Liabilities | 289.00M | |||||
| Other Current Liabilities | 3.51B | 1.02B | 3.00M | |||
| Other Long-Term Liabilities | 10.80B | 8.52B | 8.77B | 9.46B | 9.31B | 9.87B |
| Total Liabilities | 113.09B | 110.81B | 105.33B | 101.06B | 94.16B | 91.58B |
| Common Stock | 26.31B | 25.91B | 25.45B | 24.91B | 24.57B | 24.15B |
| Retained Earnings | 60.00B | 54.93B | 49.63B | 45.59B | 43.52B | 41.55B |
| Treasury Stock | -50.25B | -45.45B | -42.25B | -41.10B | -40.08B | -38.02B |
| Comprehensive Income & Other | -7.06B | -2.50B | -4.97B | -4.47B | -6.45B | 1.19B |
| Shareholders' Equity | 29.00B | 32.89B | 27.86B | 24.92B | 21.56B | 28.89B |
| Total Liabilities & Equity | 142.09B | 143.71B | 133.19B | 125.98B | 115.72B | 120.47B |
| Filing Date Shares Outstanding | 204.95M | 216.24M | 226.73M | 229.13M | 232.09M | 241.50M |
| Total Common Shares Outstanding | 204.90M | 217.50M | 226.60M | 228.20M | 232.10M | 241.20M |
| Total Debt | 9.81B | 9.51B | 8.03B | 8.03B | 7.29B | 7.29B |
| Net Cash (Debt) | -9.19B | -8.80B | -7.46B | -7.53B | -6.49B | -6.53B |
| Net Cash Per Share | -42.45 | -38.67 | -32.30 | -32.43 | -27.09 | -26.03 |
| Book Value Per Share | 141.51 | 151.24 | 122.97 | 109.21 | 92.89 | 119.76 |
| Tangible Book Value | 24.61B | 28.49B | 23.27B | 20.67B | 17.32B | 24.57B |
| Tangible Book Value Per Share | 120.10 | 131.00 | 102.70 | 90.57 | 74.63 | 101.88 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.33B | 6.29B | 5.00B | 2.99B | 2.84B | 3.66B |
| Depreciation & Amortization | 699.00M | 680.00M | 715.00M | 722.00M | 826.00M | 870.00M |
| Other Amortization | 7.25B | 7.27B | 6.97B | 6.23B | 5.51B | 5.04B |
| Gain (Loss) on Sale of Investments | -55.00M | 48.00M | 30.00M | 105.00M | 204.00M | -171.00M |
| Change in Accounts Receivable | -784.00M | -115.00M | -859.00M | -1.34B | -877.00M | -258.00M |
| Reinsurance Recoverable | -67.00M | -137.00M | 111.00M | -63.00M | 344.00M | -101.00M |
| Change in Unearned Revenue | 447.00M | 584.00M | 1.49B | 2.59B | 1.86B | 1.25B |
| Change in Insurance Reserves / Liabilities | 2.35B | 3.30B | 2.68B | 2.84B | 2.05B | 2.39B |
| Other Operating Activities | 155.00M | 291.00M | 404.00M | 484.00M | -141.00M | 812.00M |
| Operating Cash Flow | 10.68B | 10.61B | 9.07B | 7.71B | 6.46B | 7.27B |
| Cash Acquisitions | -382.00M | -4.00M | -38.00M | |||
| Investment in Securities | -5.87B | -7.21B | -6.55B | -6.21B | -3.33B | -4.86B |
| Other Investing Activities | -363.00M | -389.00M | -352.00M | -545.00M | -364.00M | -298.00M |
| Investing Cash Flow | -3.89B | -7.65B | -7.26B | -6.82B | -3.73B | -5.20B |
| Long-Term Debt Issued | 1.23B | 738.00M | 739.00M | |||
| Total Debt Repaid | -200.00M | |||||
| Net Debt Issued (Repaid) | 544.00M | 1.23B | 738.00M | 739.00M | ||
| Issuance of Common Stock | 263.00M | 214.00M | 321.00M | 141.00M | 267.00M | 293.00M |
| Repurchases of Common Stock | -6.38B | -3.13B | -1.12B | -1.02B | -2.06B | -2.20B |
| Common Dividends Paid | -1.00B | -979.00M | -951.00M | -908.00M | -875.00M | -869.00M |
| Financing Cash Flow | -6.58B | -2.66B | -1.75B | -1.05B | -2.67B | -2.04B |
| Foreign Exchange Rate Adjustments | -6.00M | 23.00M | -14.00M | 12.00M | -30.00M | -1.00M |
| Miscellaneous Cash Flow Adjustments | -171.00M | -171.00M | ||||
| Net Cash Flow | 37.00M | 143.00M | 49.00M | -149.00M | 38.00M | 40.00M |
| Levered Free Cash Flow | 15.82B | 12.10B | 16.49B | 12.34B | 12.21B | 14.17B |
| Unlevered Free Cash Flow | 16.11B | 12.37B | 16.73B | 12.57B | 12.43B | 14.38B |
| Cash Interest Paid | 460.00M | 393.00M | 390.00M | 370.00M | 349.00M | 337.00M |
| Cash Income Tax Paid | 2.21B | 1.27B | 1.31B | 201.00M | 817.00M | 707.00M |
| Change in Working Capital | -5.47B | -3.74B | -3.75B | -2.66B | -2.44B | -1.95B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 81.77B | 64.70B | 54.69B | 43.51B | 43.94B | 38.48B |
| Enterprise Value | 90.96B | 73.38B | 61.95B | 50.95B | 50.46B | 44.96B |
| PE Ratio | 10.45 | 10.37 | 11.02 | 14.65 | 15.57 | 10.59 |
| PS Ratio | 1.66 | 1.32 | 1.18 | 1.05 | 1.19 | 1.10 |
| PB Ratio | 2.80 | 1.97 | 1.96 | 1.75 | 2.04 | 1.33 |
| P/OCF Ratio | 7.61 | 6.10 | 6.03 | 5.64 | 6.80 | 5.29 |
| EV/Sales Ratio | 1.85 | 1.50 | 1.33 | 1.23 | 1.37 | 1.29 |
| EV/EBITDA Ratio | 7.85 | 8.24 | 8.50 | 11.40 | 11.14 | 7.93 |
| EV/EBIT Ratio | 8.35 | 8.93 | 9.43 | 13.60 | 13.62 | 9.37 |
| Debt / Equity Ratio | 0.34 | 0.29 | 0.29 | 0.32 | 0.34 | 0.25 |
| Debt / EBITDA Ratio | 0.85 | 1.06 | 1.10 | 1.80 | 1.61 | 1.29 |
| Net Debt / Equity Ratio | 0.32 | 0.27 | 0.27 | 0.30 | 0.30 | 0.23 |
| Net Debt / EBITDA Ratio | 0.80 | 0.99 | 1.02 | 1.69 | 1.43 | 1.15 |
| Quick Ratio | 0.20 | 0.19 | 0.19 | 0.19 | 0.17 | 0.17 |
| Current Ratio | 0.33 | 0.36 | 0.32 | 0.34 | 0.33 | 0.35 |
| Asset Turnover | 0.34 | 0.35 | 0.36 | 0.34 | 0.31 | 0.29 |
| Return on Equity (ROE) | 27.50% | 20.70% | 18.94% | 12.87% | 11.27% | 12.61% |
| Return on Assets (ROA) | 4.73% | 3.71% | 3.17% | 1.94% | 1.96% | 2.53% |
| Return on Invested Capital (ROIC) | 21.49% | 16.94% | 15.44% | 10.76% | 9.65% | 10.96% |
| Earnings Yield | 9.57% | 9.72% | 9.14% | 6.88% | 6.47% | 9.52% |
| Dividend Yield | 1.26% | 1.46% | 1.72% | 2.06% | 1.94% | 2.19% |
| Payout Ratio | 13.09% | 15.57% | 19.02% | 30.36% | 30.79% | 23.73% |
| Buyback Yield / Dilution | 5.55% | 1.51% | 0.47% | 3.13% | 4.43% | 1.49% |
| Total Shareholder Return | 6.81% | 2.98% | 2.19% | 5.19% | 6.37% | 3.68% |