NYSE · Financial Services

The Travelers Companies, Inc.

TRV · Insurance - Property & Casualty

$307.81

▲ 1.74 (0.57%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

B⤢

Net Income Margin 14.3%

Fin. Health

D⤢

Years to Pay Off Debt 5.4 yrs

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 2.05x

Cash Flow

A⤢

Free Cash Flow $2.2B

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About The Travelers Companies, Inc.

The Travelers Companies, Inc., through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States, Canada, and internationally. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The Business Insurance segment offers workers' compensation, commercial automobile and property, general liability, commercial multi-peril, employers' liability, public and product liability, professional indemnity, marine, aviation, commercial property and automobile, onshore and offshore energy, construction, terrorism, personal accident, and kidnap and ransom insurance products. This segment operates through select accounts, which serve small businesses; middle accounts that serve mid-sized businesses; national accounts, which serve large companies; and national property and others that serve large and mid-sized customers, commercial trucking industry, and agricultural businesses, as well as markets and distributes its products through brokers, wholesale agents, and program managers. The Bond & Specialty Insurance segment provides surety, fidelity, management and professional liability, and other property and casualty coverages and related risk management services through independent agencies and brokers. The Personal Insurance segment offers property and casualty insurance covering personal risks, primarily automobile and homeowners' insurance to individuals. The Travelers Companies, Inc. was founded in 1853 and is based in New York, New York.

Market Data

Market Cap $65.5B

Enterprise Value $67.5B

P/E (TTM) 9.16

Dividend Yield 1.44%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 14.3%

Company Info

Sector Financial Services

Industry Insurance - Property & Casualty

Employees 34000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering The Travelers Companies, Inc. at $307.81.

The business passes only 3 of 5 of Graham's defensive criteria — well below his required standard.

At $307.81, the stock trades at a 90% premium to its Graham Number of $162.27. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025
Gross Profit %	N/A•	N/A
Operating Margin %	N/A•	N/A
Net Income %	14.3%▼	20.1%
Diluted EPS	7.78▼	11.06

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$142.3B	$143.7B	N/A
Total Debt	$9.3B▲	$9.3B•	N/A
Working Capital	N/A•	N/A•	N/A
Years to Pay Debt	5.42	3.71	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$2.2B▼	$2.7B•	N/A
Owner Earnings	N/A	N/A	N/A
CapEx % of Net Income	N/A	N/A	N/A

Income Statement

	2026	2025
Tax Rate For Calcs	0	0
Net Income From Continuing Operation Net Minority Interest	1,711,000	2,496,000
Reconciled Depreciation	193,000	162,000
EBIT	2,235,000	3,219,000
Net Interest Income	-116,000	-116,000
Interest Expense	116,000	116,000
Normalized Income	1,711,000	2,496,000
Net Income From Continuing And Discontinued Operation	1,711,000	2,496,000
Total Expenses	9,805,000	9,329,000
Diluted Average Shares	218,400	224,000
Basic Average Shares	215,200	220,300
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	1,699,000	2,477,000
Net Income Common Stockholders	1,699,000	2,477,000
Otherunder Preferred Stock Dividend	12,000	19,000
Net Income	1,711,000	2,496,000
Net Income Including Noncontrolling Interests	1,711,000	2,496,000
Net Income Continuous Operations	1,711,000	2,496,000
Tax Provision	408,000	607,000
Pretax Income	2,119,000	3,103,000
Other Income Expense	141,000	125,000
Net Non Operating Interest Income Expense	-116,000	-116,000
Interest Expense Non Operating	116,000	116,000
Selling General And Administration	1,541,000	1,544,000
General And Administrative Expense	1,541,000	1,544,000
Other Gand A	1,541,000	1,544,000
Total Revenue	11,924,000	12,432,000
Operating Revenue	11,924,000	12,432,000
Loss Adjustment Expense	6,382,000	5,832,000
Net Policyholder Benefits And Claims	6,382,000	5,832,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	582,500	575,900
Ordinary Shares Number	212,643	217,500
Share Issued	795,143	793,400
Net Debt	8,787,000	8,557,000
Total Debt	9,268,000	9,267,000
Tangible Book Value	27,595,000	28,492,000
Invested Capital	41,254,000	42,161,000
Net Tangible Assets	27,595,000	28,492,000
Common Stock Equity	31,986,000	32,894,000
Total Capitalization	40,954,000	41,861,000
Total Equity Gross Minority Interest	31,986,000	32,894,000
Stockholders Equity	31,986,000	32,894,000
Gains Losses Not Affecting Retained Earnings	-3,078,000	-2,500,000
Other Equity Adjustments	-3,078,000	-2,500,000
Treasury Stock	47,432,000	45,447,000
Retained Earnings	56,404,000	54,931,000
Capital Stock	26,092,000	25,910,000
Common Stock	26,092,000	25,910,000
Total Liabilities Net Minority Interest	110,323,000	110,814,000
Long Term Debt And Capital Lease Obligation	8,968,000	8,967,000
Long Term Debt	8,968,000	8,967,000
Current Debt And Capital Lease Obligation	300,000	300,000
Current Debt	300,000	300,000
Other Current Borrowings	300,000
Commercial Paper		100,000	100,000
Current Notes Payable		200,000	0
Payables And Accrued Expenses	4,188,000	3,555,000
Payables	4,188,000	3,555,000
Accounts Payable	4,188,000	3,555,000
Total Assets	142,309,000	143,708,000
Investments And Advances	97,987,000	96,167,000
Goodwill And Other Intangible Assets	4,391,000	4,402,000
Other Intangible Assets	331,000	336,000
Goodwill	4,060,000	4,066,000
Prepaid Assets	1,877,000	1,283,000
Receivables	22,462,000	21,888,000
Accounts Receivable	22,462,000	21,888,000
Cash Cash Equivalents And Short Term Investments	97,877,000	26,169,000
Other Short Term Investments	97,396,000	25,459,000
Cash And Cash Equivalents	481,000	710,000

Cash Flow

	2026	2025	2024
Free Cash Flow	2,198,000	2,685,000
Repurchase Of Capital Stock	-1,934,000	-1,637,000
Interest Paid Supplemental Data	94,000	136,000
Income Tax Paid Supplemental Data	12,000	518,000
End Cash Position	615,000	842,000
Beginning Cash Position	842,000	729,000
Effect Of Exchange Rate Changes	-5,000	2,000
Changes In Cash	-222,000	282,000
Financing Cash Flow	-2,085,000	-1,828,000
Cash Flow From Continuing Financing Activities	-2,085,000	-1,828,000
Proceeds From Stock Option Exercised	86,000	51,000
Cash Dividends Paid	-237,000	-242,000
Common Stock Dividend Paid	-237,000
Net Common Stock Issuance	-1,934,000	-1,637,000
Common Stock Payments	-1,934,000	-1,637,000
Investing Cash Flow	-335,000	-575,000
Cash Flow From Continuing Investing Activities	-335,000	-575,000
Net Other Investing Changes	-119,000	-135,000
Net Investment Purchase And Sale	-2,588,000	-415,000
Sale Of Investment	3,807,000	2,871,000
Purchase Of Investment	-6,395,000	-3,286,000
Net Investment Properties Purchase And Sale	-12,000	-25,000
Purchase Of Investment Properties	-12,000	-25,000
Net Business Purchase And Sale	2,384,000	0
Sale Of Business	2,384,000
Operating Cash Flow	2,198,000	2,685,000
Cash Flow From Continuing Operating Activities	2,198,000	2,685,000
Change In Working Capital	-1,451,000	-2,004,000
Change In Other Working Capital	-634,000
Change In Receivables	-542,000	502,000
Changes In Account Receivables	-542,000	502,000
Other Non Cash Items		289,000	452,000
Amortization Of Securities	1,766,000	1,837,000
Deferred Tax	51,000	-58,000
Deferred Income Tax	51,000	-58,000
Depreciation And Amortization	193,000	162,000
Operating Gains Losses	-72,000	-37,000
Earnings Losses From Equity Investments	-23,000	-57,000
Gain Loss On Investment Securities	-49,000	20,000
Net Income From Continuing Operations	1,711,000	2,496,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $11.8B ▲ $11.9B +1.0%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Net Margin

Prior year: 3.3% ▲ 14.3% +11.0pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$11.9B/qtr (≈$47.7B ann.)

vs > $1.5B annualised revenue

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$2.2B

vs Positive

Operating Cash Flow

$2.2B

Latest quarter · Buffett's cash reality check

ROIC

N/A

Based on latest annual operating income

Market Cap / Net Assets

2.0x

Net Assets: $32.0B

Peers & Industry

No auto-detected peers for Insurance - Property & Casualty. You can manually compare TRV against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.27%

Low — management has little skin in the game

Return on Equity (ROE)

5.3%

Weak — poor returns on equity

Return on Assets (ROA)

1.2%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$3.1B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+0.0% YoY

Debt is roughly stable

Leadership Team

Alan David Schnitzer

Chairman & CEO

Age 59

Pay: $10,593,146

0.619% of net income

Avrohom Kess

Vice Chairman & Chief Legal Officer

Age 56

Pay: $5,287,308

0.309% of net income

Michael Frederick Klein

Executive VP & President of Personal Insurance

Age 57

Pay: $4,481,203

0.262% of net income

Gregory Cheshire Toczydlowski

Executive VP & President of Business Insurance

Age 58

Pay: $5,073,751

0.297% of net income

Abbe Goldstein

Senior Vice President of Investor Relations

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	10.17%	21,633,053
State Street Corporation	7.59%	16,133,981
Vanguard Capital Management LLC	6.61%	14,050,703
FMR, LLC	5.64%	11,999,445
Geode Capital Management, LLC	2.65%	5,641,527
Vanguard Portfolio Management LLC	2.53%	5,390,073
Massachusetts Financial Services Co.	2.31%	4,903,665
JPMORGAN CHASE & CO	1.75%	3,726,502

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.49

Low volatility — more stable than the market

Short Interest

3.2% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.29x

Conservative balance sheet — low financial risk

Current Ratio

0.34x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $249.19 Current: $307.81 High: $313.12

Currently at 92% of 52-week range