vs
Side-by-side financial comparison of Cincinnati Financial (CINF) and Hagerty, Inc. (HGTY), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Cincinnati Financial is the larger business by last-quarter revenue ($3.1B vs $150.8M, roughly 20.5× Hagerty, Inc.). Cincinnati Financial runs the higher net margin — 21.9% vs 18.9%, a 2.9% gap on every dollar of revenue. On growth, Hagerty, Inc. posted the faster year-over-year revenue change (30.7% vs 21.8%). Cincinnati Financial produced more free cash flow last quarter ($939.0M vs $23.1M). Over the past eight quarters, Hagerty, Inc.'s revenue compounded faster (12.1% CAGR vs 2.6%).
Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S.
Hagerty, Inc. is an American automotive lifestyle and membership company, as well as the world's largest provider of specialty insurance for classic vehicles. Hagerty is based in Traverse City, Michigan and also operates in Canada, Germany and the United Kingdom.
CINF vs HGTY — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $150.8M |
| Net Profit | $676.0M | $28.6M |
| Gross Margin | — | — |
| Operating Margin | 27.2% | 26.3% |
| Net Margin | 21.9% | 18.9% |
| Revenue YoY | 21.8% | 30.7% |
| Net Profit YoY | 66.9% | 238.4% |
| EPS (diluted) | $4.29 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $3.1B | $150.8M | ||
| Q3 25 | $3.7B | $190.0M | ||
| Q2 25 | $3.2B | $188.5M | ||
| Q1 25 | $2.6B | $148.4M | ||
| Q4 24 | $2.5B | $115.4M | ||
| Q3 24 | $3.3B | $157.7M | ||
| Q2 24 | $2.5B | $155.6M | ||
| Q1 24 | $2.9B | $120.1M |
| Q4 25 | $676.0M | $28.6M | ||
| Q3 25 | $1.1B | $46.2M | ||
| Q2 25 | $685.0M | $47.2M | ||
| Q1 25 | $-90.0M | $27.3M | ||
| Q4 24 | $405.0M | $8.4M | ||
| Q3 24 | $820.0M | $19.0M | ||
| Q2 24 | $312.0M | $42.7M | ||
| Q1 24 | $755.0M | $8.2M |
| Q4 25 | 27.2% | 26.3% | ||
| Q3 25 | 37.9% | 18.1% | ||
| Q2 25 | 26.3% | 25.3% | ||
| Q1 25 | -5.0% | 17.3% | ||
| Q4 24 | 18.9% | 5.2% | ||
| Q3 24 | 31.3% | 6.4% | ||
| Q2 24 | 15.2% | 24.5% | ||
| Q1 24 | 32.5% | 10.2% |
| Q4 25 | 21.9% | 18.9% | ||
| Q3 25 | 30.1% | 24.3% | ||
| Q2 25 | 21.1% | 25.0% | ||
| Q1 25 | -3.5% | 18.4% | ||
| Q4 24 | 16.0% | 7.3% | ||
| Q3 24 | 24.7% | 12.1% | ||
| Q2 24 | 12.3% | 27.4% | ||
| Q1 24 | 25.7% | 6.8% |
| Q4 25 | $4.29 | — | ||
| Q3 25 | $7.11 | — | ||
| Q2 25 | $4.34 | — | ||
| Q1 25 | $-0.57 | — | ||
| Q4 24 | $2.57 | — | ||
| Q3 24 | $5.20 | — | ||
| Q2 24 | $1.98 | — | ||
| Q1 24 | $4.78 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.0M | $160.2M |
| Total DebtLower is stronger | $861.0M | $177.9M |
| Stockholders' EquityBook value | $15.9B | $221.3M |
| Total Assets | $41.0B | $2.1B |
| Debt / EquityLower = less leverage | 0.05× | 0.80× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $148.0M | $160.2M | ||
| Q3 25 | $1.6B | $290.5M | ||
| Q2 25 | $1.1B | $259.6M | ||
| Q1 25 | $1.1B | $232.7M | ||
| Q4 24 | $1.3B | $178.7M | ||
| Q3 24 | $1.8B | $208.9M | ||
| Q2 24 | $771.0M | $186.4M | ||
| Q1 24 | $619.0M | $131.2M |
| Q4 25 | $861.0M | $177.9M | ||
| Q3 25 | $858.0M | $104.4M | ||
| Q2 25 | $859.0M | $153.4M | ||
| Q1 25 | $853.0M | $132.6M | ||
| Q4 24 | $850.0M | $105.0M | ||
| Q3 24 | $849.0M | $122.9M | ||
| Q2 24 | $849.0M | $98.0M | ||
| Q1 24 | $848.0M | $91.5M |
| Q4 25 | $15.9B | $221.3M | ||
| Q3 25 | $15.4B | $211.7M | ||
| Q2 25 | $14.3B | $172.3M | ||
| Q1 25 | $13.7B | $162.9M | ||
| Q4 24 | $13.9B | $150.3M | ||
| Q3 24 | $13.8B | $148.3M | ||
| Q2 24 | $12.8B | $94.4M | ||
| Q1 24 | $12.7B | $93.5M |
| Q4 25 | $41.0B | $2.1B | ||
| Q3 25 | $40.6B | $2.2B | ||
| Q2 25 | $38.8B | $2.0B | ||
| Q1 25 | $37.3B | $1.8B | ||
| Q4 24 | $36.5B | $1.7B | ||
| Q3 24 | $37.0B | $1.8B | ||
| Q2 24 | $34.8B | $1.7B | ||
| Q1 24 | $33.7B | $1.6B |
| Q4 25 | 0.05× | 0.80× | ||
| Q3 25 | 0.06× | 0.49× | ||
| Q2 25 | 0.06× | 0.89× | ||
| Q1 25 | 0.06× | 0.81× | ||
| Q4 24 | 0.06× | 0.70× | ||
| Q3 24 | 0.06× | 0.83× | ||
| Q2 24 | 0.07× | 1.04× | ||
| Q1 24 | 0.07× | 0.98× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $947.0M | $29.1M |
| Free Cash FlowOCF − Capex | $939.0M | $23.1M |
| FCF MarginFCF / Revenue | 30.4% | 15.3% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.3% | 4.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.40× | 1.02× |
| TTM Free Cash FlowTrailing 4 quarters | $3.1B | $194.5M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $947.0M | $29.1M | ||
| Q3 25 | $1.1B | $92.2M | ||
| Q2 25 | $741.0M | $53.9M | ||
| Q1 25 | $310.0M | $43.8M | ||
| Q4 24 | $642.0M | $-12.6M | ||
| Q3 24 | $912.0M | $67.4M | ||
| Q2 24 | $742.0M | $64.0M | ||
| Q1 24 | $353.0M | $58.2M |
| Q4 25 | $939.0M | $23.1M | ||
| Q3 25 | $1.1B | $85.2M | ||
| Q2 25 | $737.0M | $47.7M | ||
| Q1 25 | $307.0M | $38.4M | ||
| Q4 24 | $638.0M | $-16.7M | ||
| Q3 24 | $906.0M | $62.0M | ||
| Q2 24 | $737.0M | $56.6M | ||
| Q1 24 | $346.0M | $53.7M |
| Q4 25 | 30.4% | 15.3% | ||
| Q3 25 | 29.8% | 44.9% | ||
| Q2 25 | 22.7% | 25.3% | ||
| Q1 25 | 12.0% | 25.9% | ||
| Q4 24 | 25.1% | -14.5% | ||
| Q3 24 | 27.3% | 39.3% | ||
| Q2 24 | 29.0% | 36.4% | ||
| Q1 24 | 11.8% | 44.7% |
| Q4 25 | 0.3% | 4.0% | ||
| Q3 25 | 0.1% | 3.7% | ||
| Q2 25 | 0.1% | 3.3% | ||
| Q1 25 | 0.1% | 3.6% | ||
| Q4 24 | 0.2% | 3.5% | ||
| Q3 24 | 0.2% | 3.4% | ||
| Q2 24 | 0.2% | 4.8% | ||
| Q1 24 | 0.2% | 3.8% |
| Q4 25 | 1.40× | 1.02× | ||
| Q3 25 | 0.99× | 2.00× | ||
| Q2 25 | 1.08× | 1.14× | ||
| Q1 25 | — | 1.61× | ||
| Q4 24 | 1.59× | -1.50× | ||
| Q3 24 | 1.11× | 3.55× | ||
| Q2 24 | 2.38× | 1.50× | ||
| Q1 24 | 0.47× | 7.10× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
CINF
| Commercial Lines Insurance | $1.2B | 40% |
| Personal Lines Insurance | $860.0M | 28% |
| Investment Segment Of CINF | $488.0M | 16% |
| Other | $224.0M | 7% |
| Excessand Surplus Lines Insurance | $189.0M | 6% |
| Life Insurance | $86.0M | 3% |
HGTY
Segment breakdown not available.
