Cincinnati Financial (CINF) FY2022 results: revenue $6.6 billion, down 31.9% on the year
Cincinnati Financial Corp. (CINF) reported revenue of $6.6 billion for fiscal 2022, the year ended 31 December 2022, down 31.9% on the year before. Net income was -$487 million, and diluted earnings per share $-3.06. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$6.6 billion
-31.9% on the year
FY2015FY2022
Operating margin
-10.6%
38.4% a year earlier
FY2015FY2022
Net income
-$487 million
FY2015FY2022
Diluted EPS
-$3.06
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
2,052
1,981
1,491
+3.6%
Capital expenditure
15.0
15.0
20.0
0.0%
Free cash flow
2,037
1,966
1,471
+3.6%
Free cash flow margin
31.1%
20.4%
19.5%
Cash from investing
-933
-1,057
-560
Cash from financing
-994
-685
-798
Depreciation and amortisation
n/a
93.0
81.0
Share-based compensation
n/a
33.0
31.0
Buybacks
410
144
261
+184.7%
Dividends paid
423
395
375
+7.1%
Dividend per share
$2.76
$2.52
$2.40
+9.5%
Diluted shares, weighted
159m
163m
162m
-2.4%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
10,562
12,764
10,789
-17.3%
Debt
789
789
788
0.0%
Other liabilities
18,385
17,834
15,965
+3.1%
Total liabilities and equity
29,736
31,387
27,542
-5.3%
Fixed assets
202
205
213
-1.5%
Securities held for sale or to maturity
12,132
13,022
12,338
-6.8%
Loans
92.0
98.0
95.0
-6.1%
Cash and equivalents
1,264
1,139
900
+11.0%
Other assets
16,046
16,923
13,996
-5.2%
Total assets
29,736
31,387
27,542
-5.3%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.