American Financial Group (AFG) FY2023 results: revenue $7.8 billion, up 11.2% on the year
American Financial Group Inc. (AFG) reported revenue of $7.8 billion for fiscal 2023, the year ended 31 December 2023, up 11.2% on the year before. Net income was $852 million, down 5.1%, and diluted earnings per share $10.05. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$7.8 billion
+11.2% on the year
FY2016FY2023
Operating margin
13.7%
16.0% a year earlier
FY2016FY2023
Net income
$852 million
-5.1% on the year
FY2016FY2023
Diluted EPS
$10.05
-4.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,970
1,153
1,714
+70.9%
Cash from investing
414
-1,051
-436
Cash from financing
-2,031
-1,361
-1,957
Depreciation and amortisation
78.0
100
187
-22.0%
Share-based compensation
18.0
19.0
16.0
-5.3%
Buybacks
213
11.0
319
+1,836.4%
Dividends paid
684
1,213
2,374
-43.6%
Dividend per share
$8.10
$14.31
$28.06
-43.4%
Diluted shares, weighted
85m
85m
86m
-0.6%
Shares outstanding at period end
84m
85m
85m
-1.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,258
4,052
5,012
+5.1%
Debt
1,475
1,496
1,964
-1.4%
Other liabilities
24,054
23,283
21,955
+3.3%
Total liabilities and equity
29,787
28,831
28,931
+3.3%
Goodwill
305
246
246
+24.0%
Intangible assets
213
108
106
+97.2%
Securities held for sale or to maturity
10,377
10,095
10,357
+2.8%
Cash and equivalents
1,225
872
2,131
+40.5%
Other assets
17,667
17,510
16,091
+0.9%
Total assets
29,787
28,831
28,931
+3.3%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.