Travelers Companies (TRV)
Financials · $76.5B market cap · SEC CIK 0000086312
fundamentals score out of 100
Next reports on Oct 16, 2026, before the open, with analysts expecting $6.84 in earnings per share.
The case for TRV
- Cheap on earnings at 9.2×, well under the market's usual 20×.
- Earns 26% back on shareholder equity.
- Earnings per share up 65.1%.
- A PEG of 0.14: a P/E of 9.2× is low for EPS growing 65%.
- Moves less than the market (beta 0.43).
- Pays a modest 2.3% dividend.
The case against
- Revenue grew only 2.4%, roughly the pace of inflation.
- Weakest against its peers: net margin of 17% is thinner than 60% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 81 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 58 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 61 |
| Momentumhow the price has behaved lately | 80 |
| Stabilityhow violently it moves, what it owes and what it pays you | 77 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 9.2× |
|---|---|
| Price / book | 2.08× |
| Price / sales | 1.6× |
| Revenue growth (YoY) | +2.4% |
| EPS growth (YoY) | +65.1% |
| Gross margin | — |
| Operating margin | 22% |
| Net margin | 17% |
| Return on equity | 26% |
| Debt / equity | 0.27× |
| Current ratio | 1.00 |
| Dividend yield | 2.25% |
| Beta | 0.43 |
| 52-week range | $252.26 – $398.70 |
| Position in that range | 75% of the way up |
| 3-month return | +20.6% |
| 1-year return | +34.0% |
Five years of financials, as filed
Pulled from Travelers Companies's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $48.8B | $46.4B | $41.4B | $36.9B | $34.8B |
| Net income | $6.3B | $5.0B | $3.0B | $2.8B | $3.7B |
| Operating cash flow | $10.6B | $9.1B | $7.7B | $6.5B | $7.3B |
| Total assets | $144B | $133B | $126B | $116B | $120B |
| Total liabilities | $111B | $105B | $101B | $94.2B | $91.6B |
| Shareholder equity | $32.9B | $27.9B | $24.9B | $21.6B | $28.9B |
| Cash | $842M | $699M | $650M | $799M | $761M |
| Net margin | 12.9% | 10.8% | 7.2% | 7.7% | 10.5% |
| Diluted shares | 228M | 231M | 232M | 240M | 251M |
Share count is down 9.3% over 4 years. Buybacks have been shrinking the pie.
What Travelers Companies says it does
The Travelers Companies, Inc. (together with its consolidated subsidiaries, the Company) is a holding company principally engaged, through its subsidiaries, in providing a wide range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. The Company is incorporated as a general business corporation under the laws of the State of Minnesota and is one of the oldest insurance organizations in the United States, dating back to 1853. The principal executive offices of the Company are located at 485 Lexington Avenue, New York, New York 10017, and its telephone number is (917) 778-6000. The Company also maintains executive offices in Hartford, Connecticut and St. Paul, Minnesota. The term "TRV" in this document refers to The Travelers Companies, Inc., the parent holding company excluding subsidiaries. PROPERTY AND CASUALTY INSURANCE OPERATIONS The…
Risk factors TRV lists in its 10-K
- Our business could be harmed because of our continued exposure to asbestos claims and related litigation
- We are exposed to, and may face adverse developments involving, mass tort claims such as those relating to exposure to potentially harmful products or substances
- Financial, Economic and Credit Risks
- During or following a period of financial market disruption or an economic downturn, our business could be materially and adversely affected
- Our investment portfolio is subject to credit and interest rate risk, and may suffer reduced or low returns or material realized or unrealized losses
- We are exposed to credit risk in certain of our insurance operations and with respect to certain guarantee or indemnification arrangements that we have with third parties
- A downgrade in our claims-paying and financial strength ratings could adversely impact our business volumes, adversely impact our ability to access the capital markets and increase our borrowing costs
- The inability of our insurance subsidiaries to pay dividends to our holding company in sufficient amounts would harm our ability to meet our obligations, pay future shareholder dividends and/or make future share repurchases
- Disruptions to our relationships with our independent agents and brokers or our inability to manage effectively a changing distribution landscape could adversely affect us
- Our efforts to develop new products or services, expand in targeted markets, improve business processes and workflows or pursue acquisitions or dispositions may not be successful and may create enhanced risks
- We may be adversely affected if our pricing and capital models provide materially different indications than actual results
- We are subject to additional risks associated with our business outside the United States
- Future pandemics could materially affect our results of operations, financial position and/or liquidity
- Technology and Intellectual Property Risks