United Fire Group (UFCS) FY2024 results: revenue $1.3 billion, up 14.4% on the year
United Fire Group Inc. (UFCS) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, up 14.4% on the year before. Net income was $62 million, and diluted earnings per share $2.39. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.
Revenue
$1.3 billion
+14.4% on the year
FY2017FY2024
Operating margin
6.1%
-3.6% a year earlier
FY2017FY2024
Net income
$62 million
FY2017FY2024
Diluted EPS
$2.39
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
340
172
-1.3
+98.2%
Capital expenditure
11.9
10.9
2.1
+9.0%
Free cash flow
328
161
-3.4
+104.2%
Free cash flow margin
26.2%
14.7%
-0.3%
Cash from investing
-292
-150
-19.2
Cash from financing
51.1
-16.5
-15.0
Depreciation and amortisation
10.9
10.5
7.7
+3.8%
Share-based compensation
5.5
3.2
2.8
+70.0%
Buybacks
n/a
0.0
0.0
Dividends paid
16.2
16.2
15.9
+0.3%
Dividend per share
$0.64
$0.64
$0.63
0.0%
Diluted shares, weighted
26m
25m
25m
+2.6%
Shares outstanding at period end
25m
25m
25m
+0.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
782
734
740
+6.5%
Other liabilities
2,707
2,410
2,142
+12.3%
Total liabilities and equity
3,488
3,144
2,882
+10.9%
Fixed assets
136
134
133
+1.3%
Goodwill
n/a
0.0
0.0
Intangible assets
3.9
4.6
5.3
-15.4%
Securities held for sale or to maturity
1,868
1,687
1,551
+10.8%
Loans
40.9
45.4
37.9
-9.8%
Cash and equivalents
201
102
96.7
+96.9%
Other assets
1,238
1,171
1,058
+5.7%
Total assets
3,488
3,144
2,882
+10.9%
10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.