Intrinsic value of Cincinnati Financial - CINF

Previous Close

$70.18

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$70.18

 
Intrinsic value

$76.51

 
Up/down potential

+9%

 
Rating

hold

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying
Our model is not good at valuating stocks of financial companies, such as CINF.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CINF stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.97
  3.90
  4.01
  4.11
  4.20
  4.28
  4.35
  4.42
  4.47
  4.53
  4.57
  4.62
  4.65
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.83
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
Revenue, $m
  0
  5,662
  5,889
  6,130
  6,388
  6,661
  6,951
  7,258
  7,583
  7,926
  8,288
  8,671
  9,075
  9,500
  9,949
  10,421
  10,918
  11,442
  11,993
  12,573
  13,183
  13,824
  14,499
  15,208
  15,954
  16,738
  17,561
  18,427
  19,336
  20,292
  21,296
Variable operating expenses, $m
 
  4,631
  4,817
  5,015
  5,225
  5,449
  5,686
  5,937
  6,203
  6,483
  6,780
  7,093
  7,423
  7,771
  8,138
  8,524
  8,931
  9,360
  9,810
  10,285
  10,784
  11,308
  11,860
  12,440
  13,050
  13,691
  14,365
  15,073
  15,817
  16,599
  17,420
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,584
  4,631
  4,817
  5,015
  5,225
  5,449
  5,686
  5,937
  6,203
  6,483
  6,780
  7,093
  7,423
  7,771
  8,138
  8,524
  8,931
  9,360
  9,810
  10,285
  10,784
  11,308
  11,860
  12,440
  13,050
  13,691
  14,365
  15,073
  15,817
  16,599
  17,420
Operating income, $m
  865
  1,030
  1,072
  1,116
  1,163
  1,212
  1,265
  1,321
  1,380
  1,442
  1,508
  1,578
  1,652
  1,729
  1,811
  1,897
  1,987
  2,082
  2,183
  2,288
  2,399
  2,516
  2,639
  2,768
  2,904
  3,046
  3,196
  3,354
  3,519
  3,693
  3,876
EBITDA, $m
  913
  1,069
  1,112
  1,157
  1,206
  1,258
  1,312
  1,370
  1,432
  1,496
  1,565
  1,637
  1,713
  1,794
  1,878
  1,967
  2,061
  2,160
  2,264
  2,374
  2,489
  2,610
  2,737
  2,871
  3,012
  3,160
  3,316
  3,479
  3,651
  3,831
  4,021
Interest expense (income), $m
  52
  52
  85
  119
  155
  193
  234
  277
  323
  372
  423
  477
  534
  595
  658
  725
  796
  870
  948
  1,031
  1,117
  1,208
  1,304
  1,405
  1,511
  1,622
  1,740
  1,863
  1,992
  2,128
  2,271
Earnings before tax, $m
  812
  979
  987
  997
  1,008
  1,019
  1,031
  1,044
  1,057
  1,071
  1,086
  1,101
  1,117
  1,134
  1,152
  1,171
  1,191
  1,212
  1,234
  1,258
  1,282
  1,308
  1,335
  1,363
  1,393
  1,424
  1,457
  1,491
  1,527
  1,565
  1,605
Tax expense, $m
  221
  264
  267
  269
  272
  275
  278
  282
  285
  289
  293
  297
  302
  306
  311
  316
  322
  327
  333
  340
  346
  353
  360
  368
  376
  384
  393
  403
  412
  423
  433
Net income, $m
  591
  715
  721
  728
  736
  744
  753
  762
  772
  782
  792
  804
  816
  828
  841
  855
  870
  885
  901
  918
  936
  955
  974
  995
  1,017
  1,039
  1,063
  1,088
  1,115
  1,143
  1,172

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  20,386
  21,204
  22,054
  22,961
  23,925
  24,948
  26,033
  27,183
  28,399
  29,685
  31,042
  32,475
  33,987
  35,581
  37,260
  39,030
  40,893
  42,854
  44,918
  47,090
  49,374
  51,777
  54,304
  56,960
  59,752
  62,688
  65,772
  69,014
  72,421
  76,000
  79,761
Adjusted assets (=assets-cash), $m
  20,386
  21,204
  22,054
  22,961
  23,925
  24,948
  26,033
  27,183
  28,399
  29,685
  31,042
  32,475
  33,987
  35,581
  37,260
  39,030
  40,893
  42,854
  44,918
  47,090
  49,374
  51,777
  54,304
  56,960
  59,752
  62,688
  65,772
  69,014
  72,421
  76,000
  79,761
Revenue / Adjusted assets
  0.000
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
  0.267
Average production assets, $m
  184
  192
  200
  208
  217
  226
  236
  247
  258
  269
  282
  295
  309
  323
  338
  354
  371
  389
  408
  427
  448
  470
  493
  517
  542
  569
  597
  627
  657
  690
  724
Working capital, $m
  0
  23
  24
  25
  26
  27
  28
  29
  30
  32
  33
  35
  36
  38
  40
  42
  44
  46
  48
  50
  53
  55
  58
  61
  64
  67
  70
  74
  77
  81
  85
Total debt, $m
  846
  1,388
  1,944
  2,536
  3,167
  3,836
  4,546
  5,298
  6,093
  6,934
  7,822
  8,759
  9,748
  10,790
  11,888
  13,045
  14,264
  15,547
  16,896
  18,317
  19,811
  21,382
  23,035
  24,772
  26,598
  28,518
  30,535
  32,655
  34,883
  37,224
  39,684
Total liabilities, $m
  13,326
  13,868
  14,424
  15,016
  15,647
  16,316
  17,026
  17,778
  18,573
  19,414
  20,302
  21,239
  22,228
  23,270
  24,368
  25,525
  26,744
  28,027
  29,376
  30,797
  32,291
  33,862
  35,515
  37,252
  39,078
  40,998
  43,015
  45,135
  47,363
  49,704
  52,164
Total equity, $m
  7,060
  7,337
  7,631
  7,944
  8,278
  8,632
  9,008
  9,405
  9,826
  10,271
  10,741
  11,236
  11,760
  12,311
  12,892
  13,504
  14,149
  14,827
  15,542
  16,293
  17,084
  17,915
  18,789
  19,708
  20,674
  21,690
  22,757
  23,879
  25,058
  26,296
  27,597
Total liabilities and equity, $m
  20,386
  21,205
  22,055
  22,960
  23,925
  24,948
  26,034
  27,183
  28,399
  29,685
  31,043
  32,475
  33,988
  35,581
  37,260
  39,029
  40,893
  42,854
  44,918
  47,090
  49,375
  51,777
  54,304
  56,960
  59,752
  62,688
  65,772
  69,014
  72,421
  76,000
  79,761
Debt-to-equity ratio
  0.120
  0.190
  0.250
  0.320
  0.380
  0.440
  0.500
  0.560
  0.620
  0.680
  0.730
  0.780
  0.830
  0.880
  0.920
  0.970
  1.010
  1.050
  1.090
  1.120
  1.160
  1.190
  1.230
  1.260
  1.290
  1.310
  1.340
  1.370
  1.390
  1.420
  1.440
Adjusted equity ratio
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346
  0.346

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  591
  715
  721
  728
  736
  744
  753
  762
  772
  782
  792
  804
  816
  828
  841
  855
  870
  885
  901
  918
  936
  955
  974
  995
  1,017
  1,039
  1,063
  1,088
  1,115
  1,143
  1,172
Depreciation, amort., depletion, $m
  48
  38
  40
  42
  43
  45
  47
  49
  52
  54
  56
  59
  62
  65
  68
  71
  74
  78
  82
  85
  90
  94
  99
  103
  108
  114
  119
  125
  131
  138
  145
Funds from operations, $m
  1,458
  753
  761
  770
  779
  789
  800
  811
  823
  836
  849
  863
  877
  893
  909
  926
  944
  963
  983
  1,004
  1,025
  1,049
  1,073
  1,098
  1,125
  1,153
  1,183
  1,214
  1,246
  1,281
  1,317
Change in working capital, $m
  355
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
Cash from operations, $m
  1,103
  751
  760
  769
  778
  788
  799
  810
  822
  834
  847
  861
  876
  891
  907
  924
  942
  961
  980
  1,001
  1,023
  1,046
  1,070
  1,095
  1,122
  1,150
  1,179
  1,210
  1,243
  1,277
  1,313
Maintenance CAPEX, $m
  0
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -49
  -52
  -54
  -56
  -59
  -62
  -65
  -68
  -71
  -74
  -78
  -82
  -85
  -90
  -94
  -99
  -103
  -108
  -114
  -119
  -125
  -131
  -138
New CAPEX, $m
  -13
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -34
Cash from investing activities, $m
  -456
  -45
  -46
  -48
  -51
  -52
  -55
  -57
  -60
  -64
  -66
  -69
  -73
  -76
  -80
  -84
  -88
  -92
  -97
  -102
  -106
  -112
  -117
  -123
  -128
  -135
  -142
  -148
  -156
  -163
  -172
Free cash flow, $m
  647
  706
  713
  720
  728
  735
  744
  752
  761
  771
  781
  792
  803
  815
  827
  840
  854
  869
  884
  900
  917
  935
  953
  973
  993
  1,015
  1,038
  1,061
  1,087
  1,113
  1,140
Issuance/(repayment) of debt, $m
  -15
  542
  556
  593
  630
  669
  710
  752
  795
  841
  888
  937
  989
  1,042
  1,098
  1,157
  1,218
  1,283
  1,350
  1,420
  1,494
  1,571
  1,652
  1,737
  1,826
  1,920
  2,018
  2,120
  2,228
  2,341
  2,459
Issuance/(repurchase) of shares, $m
  -18
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -108
  542
  556
  593
  630
  669
  710
  752
  795
  841
  888
  937
  989
  1,042
  1,098
  1,157
  1,218
  1,283
  1,350
  1,420
  1,494
  1,571
  1,652
  1,737
  1,826
  1,920
  2,018
  2,120
  2,228
  2,341
  2,459
Total cash flow (excl. dividends), $m
  539
  1,247
  1,270
  1,313
  1,358
  1,405
  1,453
  1,504
  1,557
  1,612
  1,669
  1,729
  1,792
  1,857
  1,926
  1,997
  2,073
  2,151
  2,234
  2,320
  2,411
  2,506
  2,606
  2,710
  2,820
  2,935
  3,055
  3,182
  3,314
  3,454
  3,600
Retained Cash Flow (-), $m
  -633
  -277
  -294
  -314
  -334
  -354
  -376
  -398
  -421
  -445
  -470
  -496
  -523
  -551
  -581
  -612
  -645
  -679
  -714
  -751
  -790
  -831
  -874
  -919
  -966
  -1,016
  -1,067
  -1,122
  -1,179
  -1,238
  -1,301
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  971
  975
  1,000
  1,025
  1,051
  1,078
  1,106
  1,136
  1,167
  1,199
  1,233
  1,269
  1,306
  1,345
  1,385
  1,428
  1,473
  1,520
  1,569
  1,620
  1,675
  1,731
  1,791
  1,853
  1,919
  1,988
  2,060
  2,136
  2,215
  2,299
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  931
  893
  870
  844
  814
  782
  747
  710
  670
  629
  586
  541
  496
  451
  407
  363
  320
  280
  242
  206
  173
  144
  117
  94
  75
  58
  44
  33
  24
  17
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Cincinnati Financial Corporation engages in the property casualty insurance business in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workersÂ’ compensation. This segment also offers director and officer liability insurance, contract and commercial surety bonds, and fidelity bonds; and machinery and equipment coverage, as well as coverage for property, liability, and business interruption. The Personal Lines Insurance segment provides personal auto and homeowners insurance, as well as dwelling fire, inland marine, personal umbrella liability, and watercraft coverages to individuals. The Excess and Surplus Lines Insurance segment offers commercial casualty insurance that covers businesses for third-party liability from accidents occurring on their premises or arising out of their operations, such as injuries sustained from products; and commercial property insurance, which insures buildings, inventory, equipment, and business income against loss or damage from fire, wind, hail, water, theft, and vandalism. The Life Insurance segment provides term life insurance products; universal life insurance products; worksite products, including term, whole life, universal life, and disability insurance offered to employees through their employer; and whole life insurance products, as well as markets disability income insurance, deferred annuities, and immediate annuities. The Investments segment invests in publicly traded fixed-maturity, equity, and short-term investments. The company also offers commercial leasing and financing services. Cincinnati Financial Corporation was founded in 1950 and is headquartered in Fairfield, Ohio.

FINANCIAL RATIOS  of  Cincinnati Financial (CINF)

Valuation Ratios
P/E Ratio 19.5
Price to Sales 2.1
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 10.5
Price to Free Cash Flow 10.6
Growth Rates
Sales Growth Rate 6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 30%
Cap. Spend. - 3 Yr. Gr. Rate 13.2%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 11.7%
Total Debt to Equity 12%
Interest Coverage 17
Management Effectiveness
Return On Assets 3.2%
Ret/ On Assets - 3 Yr. Avg. 3.3%
Return On Total Capital 7.8%
Ret/ On T. Cap. - 3 Yr. Avg. 7.9%
Return On Equity 8.8%
Return On Equity - 3 Yr. Avg. 8.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 16.7%
EBITDA Margin - 3 Yr. Avg. 17.5%
Operating Margin 15.9%
Oper. Margin - 3 Yr. Avg. 16.6%
Pre-Tax Margin 14.9%
Pre-Tax Margin - 3 Yr. Avg. 15.5%
Net Profit Margin 10.8%
Net Profit Margin - 3 Yr. Avg. 11.3%
Effective Tax Rate 27.2%
Eff/ Tax Rate - 3 Yr. Avg. 27.5%
Payout Ratio 51.8%

CINF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CINF stock intrinsic value calculation we used $5449 million for the last fiscal year's total revenue generated by Cincinnati Financial. The default revenue input number comes from 2016 income statement of Cincinnati Financial. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CINF stock valuation model: a) initial revenue growth rate of 3.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CINF is calculated based on our internal credit rating of Cincinnati Financial, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cincinnati Financial.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CINF stock the variable cost ratio is equal to 81.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CINF stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.1% for Cincinnati Financial.

Corporate tax rate of 27% is the nominal tax rate for Cincinnati Financial. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CINF stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CINF are equal to 3.4%.

Life of production assets of 3.8 years is the average useful life of capital assets used in Cincinnati Financial operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CINF is equal to 0.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $7060 million for Cincinnati Financial - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 164.66 million for Cincinnati Financial is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cincinnati Financial at the current share price and the inputted number of shares is $11.6 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
SIGI Selective Insu 47.65 95.50  str.buy
AFG American Finan 95.79 379.97  str.buy
TRV Travelers Cos. 119.10 391.74  str.buy
WRB W.R. Berkley 68.01 178.41  str.buy
THG Hanover Insura 87.80 163.19  str.buy
MKL Markel 969.28 651.03  sell
HIG Hartford Finan 47.28 148.41  str.buy
STFC State Auto Fin 26.26 31.48  hold
ALL Allstate 79.73 208.65  str.buy

COMPANY NEWS

▶ Cincinnatis most valuable CEOs pay doubles   [Apr-04-17 03:32PM  American City Business Journals]
▶ What You Need to Know About the March Rate Hike   [Mar-20-17 04:13PM  GuruFocus.com]
▶ Eight Dividend Stocks Rewarding Shareholders With A Raise   [Feb-07-17 12:55PM  at Insider Monkey]
▶ The Biggest Loser: Cincinnati Financial Tumbled 6.7%   [Jan-12-17 04:25PM  at Barrons.com]
▶ Do Hedge Funds Love Cincinnati Financial Corporation (CINF)?   [Dec-02-16 08:55AM  at Insider Monkey]
Stock chart of CINF Financial statements of CINF
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.