Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Travelers Companies (The)

TRV stock analysis · Financials · Property & Casualty Insurance

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$330.12HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$68.9B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

2.3%

7 industry peers · median 11.3×

How this is calculated ↗
Valuation

Historical multiples

13.6×

7 annual observations · snapshot P/E 11.0× · -18.9% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

7.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

5.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 10.6B2020-12-31: cfo $6,519,000,000.0020202021-12-31: cfo $7,274,000,000.0020212022-12-31: cfo $6,465,000,000.0020222023-12-31: cfo $7,711,000,000.0020232024-12-31: cfo $9,074,000,000.0020242025-12-31: cfo $10,606,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3148.8B6.3B10.6B143.7B
2024-12-3146.4B5B9.1B133.2B
2023-12-3141.4B3B7.7B126B
2022-12-3136.9B2.8B6.5B115.7B
2021-12-3134.8B3.7B7.3B120.5B
2020-12-3132B2.7B6.5B116.8B
2019-12-3131.6B2.6B5.2B110.1B
2018-12-3130.3B2.5B4.4B104.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue48.8BRevenues2026-02-12
netIncome6.3BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent/common earnings proxy6.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-12
cfo10.6BNetCashProvidedByUsedInOperatingActivities2026-02-12
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets143.7BAssets2026-02-12
equity32.9BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent book equity proxy32.9BStockholdersEquity2026-02-12
debtNot reported under a supported tag
shortDebtNot reported under a supported tag
cash842MCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-12
shares227.6MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividends979MPaymentsOfDividendsCommonStock2026-02-12
buybacks3BPaymentsForRepurchaseOfCommonStock2026-02-12
issuance214MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Issuance of common stock: 214000000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 5 financing lines reconcile exactly to reported financing cash flow -2663000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-12