Filing Flows › American Financial Group (AFG) › Q3 2025
American Financial Group (AFG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
American Financial Group (AFG) reported revenue of $2.3B for the third quarter 2025 (Q3 2025), -2% from a year earlier and +21% from the quarter before. Operating margin was 11.5%, net earnings $215M (9.2% of revenue).
American Financial Group, Q3 2025: revenue $2.3B (-2% year over year), operating margin 11.5%, net earnings $215M, operating cash flow $216M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +21% | -2% |
| Operating profit | $268M | +17% | +17% |
| Net earnings | $215M | +24% | +19% |
| Operating cash flow | $216M | +13% | -53% |
What changed
Revenue was $2.3B in Q3 2025, down 2% year over year and up 21% from the previous quarter.
Operating profit was $0.27B, a 11.5% margin (up 1.8 points year over year). Total costs fell 4% while revenue fell 2%. Net earnings were $0.21B, up 19% year over year. The effective tax rate was 19.8%.
Operating cash flow was $0.22B (down 53% year over year), 100% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization. Working capital and other items used $0.02B.
Questions
What was American Financial Group's revenue in the third quarter 2025?
American Financial Group (AFG) reported revenue of $2.3B for the third quarter 2025 (Q3 2025), -2% from a year earlier and +21% from the quarter before.
Was American Financial Group profitable in the third quarter 2025?
Operating profit was $268M (11.5% of revenue) and net earnings $215M.