Cash flow The Travelers Companies, inc.

Equities

TRV

US89417E1091

Property & Casualty Insurance

Market Closed - Nyse Other stock markets 01:30:01 10/09/2024 am IST			5-day change	1st Jan Change
241.10 ^USD	+2.83%		+5.71%	+26.57%

06/09	Sector Update: Financial Stocks Slide Late Afternoon	MT
06/09	Travelers Unit, Liberty Mutual Off the Hook in Fox Paine Litigation, Court Rules	MT

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Published financial data: THE TRAVELERS COMPANIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	28.27B	29.04B	30.86B	33.76B	37.76B
Total Interest And Dividend Income	2.47B	2.23B	3.03B	2.56B	2.92B
Gain (Loss) on Sale of Investments, Total (Rev)	113M	2M	171M	-204M	-105M
Other Revenues, Total	728M	708M	757M	763M	786M
Total Revenues	31.58B	31.98B	34.82B	36.88B	41.36B
Policy Benefits	19.13B	19.12B	20.3B	22.85B	26.22B
Policy Acquisition / Underwriting Costs, Total	4.6B	4.77B	5.04B	5.52B	6.23B
Selling General & Admin Expenses, Total	4.36B	4.51B	4.68B	4.81B	5.18B
Total Operating Expenses	28.1B	28.4B	30.02B	33.18B	37.62B
Operating Income	3.48B	3.58B	4.8B	3.7B	3.75B
Interest Expense, Total	-344M	-339M	-340M	-351M	-376M
EBT, Excl. Unusual Items	3.14B	3.24B	4.46B	3.35B	3.37B
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	3.14B	3.24B	4.46B	3.35B	3.37B
Income Tax Expense	516M	540M	796M	512M	380M
Earnings From Continuing Operations	2.62B	2.7B	3.66B	2.84B	2.99B
Net Income to Company	2.62B	2.7B	3.66B	2.84B	2.99B
Net Income - (IS)	2.62B	2.7B	3.66B	2.84B	2.99B
Preferred Dividend and Other Adjustments	19M	19M	27M	20M	22M
Net Income to Common Incl Extra Items	2.6B	2.68B	3.64B	2.82B	2.97B
Net Income to Common Excl. Extra Items	2.6B	2.68B	3.64B	2.82B	2.97B
Per Share Items
Net EPS - Basic	10.01	10.56	14.63	11.91	12.93
Basic EPS - Continuing Operations	10.01	10.56	14.63	11.91	12.93
Basic Weighted Average Shares Outstanding	260M	254M	248M	237M	230M
Net EPS - Diluted	9.92	10.52	14.49	11.77	12.79
Diluted EPS - Continuing Operations	9.92	10.52	14.49	11.77	12.79
Diluted Weighted Average Shares Outstanding	262M	255M	251M	240M	232M
Normalized Basic EPS	7.54	7.98	11.21	8.84	9.17
Normalized Diluted EPS	7.48	7.95	11.11	8.75	9.07
Dividend Per Share	3.23	3.37	3.49	3.67	3.93
Payout Ratio	32.19	31.92	23.73	30.79	30.36
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	4.24B	4.36B	5.67B	4.53B	4.47B
EBITA	3.5B	3.59B	4.81B	3.72B	3.76B
EBIT	3.48B	3.58B	4.8B	3.7B	3.75B
EBITDAR	4.35B	4.46B	5.76B	4.61B	4.55B
Total Revenues (As Reported)	31.58B	31.98B	34.82B	36.88B	41.36B
Effective Tax Rate - (Ratio)	16.44	16.68	17.86	15.27	11.27
Current Domestic Taxes	552M	536M	665M	644M	484M
Current Foreign Taxes	7M	35M	67M	97M	20M
Total Current Taxes	559M	571M	732M	741M	504M
Deferred Domestic Taxes	-33M	-29M	62M	-186M	-163M
Deferred Foreign Taxes	-10M	-2M	2M	-43M	39M
Total Deferred Taxes	-43M	-31M	64M	-229M	-124M
Normalized Net Income	1.96B	2.02B	2.79B	2.1B	2.11B
Non-Cash Pension Expense	-79M	-69M	-83M	-147M	-136M
Supplemental Operating Expense Items
General and Administrative Expenses	4.26B	4.41B	4.59B	4.73B	5.1B
Net Rental Expense, Total	102M	97M	90M	83M	79M
Imputed Operating Lease Interest Expense	41.58M	39.06M	34.55M	31.37M	30.53M
Imputed Operating Lease Depreciation	60.42M	57.94M	55.45M	51.63M	48.47M
Stock-Based Comp., Other (Total)	142M	148M	162M	183M	214M
Total Stock-Based Compensation	142M	148M	162M	183M	214M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	68.08B	73.98B	77.8B	71.16B	77.81B
Investment In Equity and Preferred Securities, Total	475M	478M	907M	1.1B	608M
Real Estate Owned	963M	1.03B	979M	952M	959M
Total Other Investments	8.36B	8.94B	7.69B	7.24B	9.44B
Total investments	77.88B	84.42B	87.37B	80.45B	88.81B
Cash And Equivalents	494M	721M	761M	799M	650M
Reinsurance Recoverable - (IS)	8.24B	8.35B	8.45B	8.06B	8.14B
Other Receivables - (Insurance Template)	8.53B	8.43B	8.7B	9.6B	10.97B
Deferred Policy Acquisition Costs - (BS)	2.27B	2.36B	2.54B	2.84B	3.31B
Goodwill	3.96B	3.98B	4.01B	3.95B	3.98B
Other Intangibles, Total	330M	317M	306M	287M	277M
Deferred Tax Assets Current	-	-	-	1.88B	-
Other Current Assets, Total	4.62B	4.24B	3.89B	3.58B	3.25B
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	1.5B
Other Long-Term Assets, Total	3.8B	3.95B	4.43B	4.27B	5.09B
Total Assets	110B	117B	120B	116B	126B
Liabilities
Insurance And Annuity Liabilities	379M	359M	245M	246M	260M
Unpaid Claims	51.85B	54.52B	56.91B	58.65B	61.63B
Unearned Premiums	14.6B	15.22B	16.47B	18.24B	20.87B
Reinsurance Payable - (BS)	364M	357M	384M	419M	518M
Current Portion of Leases	108M	103M	93M	86M	81M
Short-Term Borrowings	100M	100M	100M	100M	100M
Long-Term Debt	6.2B	6.2B	6.94B	6.94B	7.68B
Long-Term Leases	272M	259M	238M	192M	162M
Trust Preferred Securities (BS)	254M	254M	254M	254M	254M
Current Income Taxes Payable	126M	131M	119M	-	285M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	1.27B	1.2B	1.12B	1.09B	1.02B
Deferred Tax Liability Non-Current	137M	558M	289M	-	-
Other Non Current Liabilities	8.51B	8.3B	8.42B	7.94B	8.2B
Total Liabilities	84.18B	87.56B	91.58B	94.16B	101B
Common Stock, Total	23.47B	23.74B	24.15B	24.56B	24.91B
Retained Earnings	36.98B	38.77B	41.56B	43.52B	45.59B
Treasury Stock	-35.14B	-35.82B	-38.02B	-40.08B	-41.1B
Comprehensive Income and Other	640M	2.5B	1.19B	-6.44B	-4.47B
Total Common Equity	25.94B	29.2B	28.89B	21.56B	24.92B
Total Equity	25.94B	29.2B	28.89B	21.56B	24.92B
Total Liabilities And Equity	110B	117B	120B	116B	126B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	255M	252M	242M	232M	229M
ECS Total Common Shares Outstanding	256M	252M	241M	232M	228M
Book Value / Share	101.54	115.69	119.76	92.89	109.21
Tangible Book Value	21.65B	24.91B	24.57B	17.32B	20.67B
Tangible Book Value Per Share	84.74	98.68	101.88	74.63	90.57
Total Debt	6.94B	6.91B	7.62B	7.57B	8.27B
Net Debt	6.44B	6.19B	6.86B	6.77B	7.62B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-190M	-165M	-565M	-453M	-608M
Debt Equivalent Oper. Leases	816M	776M	720M	664M	632M
Equity Method Investments, Total	-	-	-	289M	-
Account Code - Inventory Valuation	3	3	-	3	3
Full Time Employees	30.8K	29.99K	30.18K	31.85K	32.97K
Part Time Employees	-	612	616	650	333

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.62B	2.7B	3.66B	2.84B	2.99B
Depreciation, Depletion & Amortization	748M	775M	856M	813M	710M
Amortization of Goodwill and Intangible Assets - (CF)	15M	14M	14M	13M	12M
Total Depreciation, Depletion & Amortization	763M	789M	870M	826M	722M
(Gain) Loss on Sale of Investments - (CF)	-113M	-2M	-171M	204M	105M
Deferred Policy Acquisition Costs - (CF)	-4.75B	-4.85B	-5.23B	-5.82B	-6.69B
Amort. Of Deferred Policy Acq. Costs - (CF)	4.6B	4.77B	5.04B	5.52B	6.23B
(Income) Loss On Equity Investments - (CF)	-251M	-130M	-993M	-336M	-157M
Change in Accounts Receivable	-384M	94M	-258M	-877M	-1.34B
Reinsurance Recoverable - (CF)	157M	-162M	-101M	344M	-63M
Change in Unearned Revenues	1.01B	592M	1.25B	1.86B	2.59B
Change in insurance Reserves / Liabilities	1.05B	2.62B	2.39B	2.05B	2.84B
Change in Other Net Operating Assets (Collected)	-	-	-	-	-
Other Operating Activities	502M	100M	812M	-141M	484M
Cash from Operations	5.2B	6.52B	7.27B	6.46B	7.71B
Cash Acquisitions	-	-	-38M	-4M	-
Sale (Purchase) of Real Estate Properties (Collected)	-107M	-113M	3M	-31M	-67M
Investment in Marketable and Equity Securities, Total	-2.63B	-4.4B	-4.86B	-3.33B	-6.21B
Other Investing Activities, Total	-167M	-377M	-298M	-364M	-545M
Cash from Investing	-2.9B	-4.89B	-5.2B	-3.73B	-6.82B
Long-Term Debt Issued, Total	492M	490M	739M	-	738M
Total Debt Issued	492M	490M	739M	-	738M
Long-Term Debt Repaid, Total	-500M	-500M	-	-	-
Total Debt Repaid	-500M	-500M	-	-	-
Issuance of Common Stock	213M	127M	293M	267M	141M
Repurchase of Common Stock	-1.55B	-672M	-2.2B	-2.06B	-1.02B
Common Dividends Paid	-844M	-861M	-869M	-875M	-908M
Common & Preferred Stock Dividends Paid	-844M	-861M	-869M	-875M	-908M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-2.19B	-1.42B	-2.04B	-2.67B	-1.05B
Foreign Exchange Rate Adjustments	5M	16M	-1M	-30M	12M
Net Change in Cash	121M	227M	40M	38M	-149M
Supplemental Items
Cash Interest Paid	338M	339M	337M	349M	370M
Cash Income Tax Paid (Refund)	428M	578M	707M	817M	201M
Net Debt Issued / Repaid	-8M	-10M	739M	-	738M
Levered Free Cash Flow	10.14B	12B	15.29B	11.42B	13.51B
Unlevered Free Cash Flow	10.35B	12.21B	15.5B	11.64B	13.75B
Change In Net Working Capital	-2.67B	-4.27B	-6.42B	-2.8B	-4.24B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.03	1.97	2.53	1.96	1.94
Return on Total Capital	6.98	6.51	8.3	7.09	7.55
Return On Equity %	10.74	9.78	12.61	11.27	12.87
Return on Common Equity	10.66	9.71	12.52	11.19	12.78
Margin Analysis
Gross Profit Margin %	24.85	25.28	27.21	23.09	21.57
SG&A Margin	13.82	14.1	13.43	13.04	12.51
EBITDA Margin %	13.44	13.65	16.28	12.28	10.8
EBITA Margin %	11.07	11.23	13.82	10.08	9.09
EBIT Margin %	11.03	11.18	13.78	10.04	9.06
Income From Continuing Operations Margin %	8.3	8.43	10.52	7.71	7.23
Net Income Margin %	8.3	8.43	10.52	7.71	7.23
Net Avail. For Common Margin %	8.24	8.37	10.44	7.65	7.18
Normalized Net Income Margin	6.21	6.33	8	5.68	5.09
Levered Free Cash Flow Margin	32.1	37.52	43.91	30.96	32.67
Unlevered Free Cash Flow Margin	32.78	38.18	44.52	31.56	33.23
Asset Turnover
Asset Turnover	0.29	0.28	0.29	0.31	0.34
Receivables Turnover (Average Receivables)	3.99	3.97	4.26	4.27	4.24
Short Term Liquidity
Current Ratio	0.39	0.38	0.34	0.35	0.33
Quick Ratio	0.19	0.2	0.17	0.17	0.19
Operating Cash Flow to Current Liabilities	0.08	0.09	0.1	0.08	0.09
Days Sales Outstanding (Average Receivables)	91.52	92.1	85.7	85.44	86.15
Average Days Payable Outstanding	794.58	821.29	808.8	749.43	682.72
Long Term Solvency
Total Debt/Equity	26.74	23.67	26.38	35.11	33.2
Total Debt / Total Capital	21.1	19.14	20.87	25.99	24.93
LT Debt/Equity	25.94	22.98	25.71	34.25	32.47
Long-Term Debt / Total Capital	20.47	18.58	20.35	25.35	24.38
Total Liabilities / Total Assets	76.44	74.99	76.02	81.37	80.22
EBIT / Interest Expense	10.12	10.55	14.11	10.56	9.97
EBITDA / Interest Expense	12.64	13.16	16.94	13.15	12.1
(EBITDA - Capex) / Interest Expense	12.64	13.16	16.94	13.15	12.1
Total Debt / EBITDA	1.6	1.55	1.32	1.64	1.82
Net Debt / EBITDA	1.48	1.39	1.19	1.47	1.68
Total Debt / (EBITDA - Capex)	1.6	1.55	1.32	1.64	1.82
Net Debt / (EBITDA - Capex)	1.48	1.39	1.19	1.47	1.68
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.29	1.27	8.86	5.94	12.15
Gross Profit, 1 Yr. Growth %	3.11	3.03	17.19	-10.13	4.79
EBITDA, 1 Yr. Growth %	3.13	2.83	29.85	-20.06	-1.37
EBITA, 1 Yr. Growth %	5.02	2.66	34.04	-22.73	1.1
EBIT, 1 Yr. Growth %