American Financial GroupAFE 80 Piotroski F-Score is 6 as of Jun. 24, 2026, which is at its 10-year median of 6.00. GuruFocus rates AFE with a GF Score™ of 80/100. The stock has 3 warning signs investors should review. Among 484 Insurance companies, American Financial Group ranks better than 60.74% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
American Financial Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for American Financial Group's Piotroski F-Score or its related term are showing as below:
AFE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of American Financial Group was 8. The lowest was 4. And the median was 6.
American Financial Group (NYSE:AFE) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
American Financial Group Piotroski F-Score Related Terms
American Financial Group Piotroski F-Score Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
AFE vs CNA, AIZ, ORI: Piotroski F-Score Comparison
For the Insurance - Property & Casualty subindustry, American Financial Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
American Financial Group Piotroski F-Score vs Insurance Industry
For the Insurance industry and Financial Services sector, American Financial Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where American Financial Group's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Net Income was 209 + 181 + 255 + 154 = $799.00 Mil.
Revenue was 1886 + 2363 + 2148 + 1843 = $8,240.00 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(30001 + 29913 + 32591 + 30836 + 30294) / 5 = $30727 Mil. Total Assets at the begining of last year (Mar24) was $30,001.00 Mil. Long-Term Debt & Capital Lease Obligation was $1,476.00 Mil. Total Assets was $30,294.00 Mil. Total Liabilities was $25,902.00 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
American Financial Group's current Net Income (TTM) was 879.00.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
American Financial Group's current Cash Flow from Operations (TTM) was 1,665.00.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
American Financial Group's return on assets of this year was 0.02901565. American Financial Group's return on assets of last year was 0.02663245.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
American Financial Group's gearing of this year was 0.05694903. American Financial Group's gearing of last year was 0.04803593.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
American Financial Group's current ratio of this year was 1.16903342. American Financial Group's current ratio of last year was 1.1695622.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
American Financial Group's number of shares in issue this year was 0. American Financial Group's number of shares in issue last year was 0.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
American Financial Group's net margin of this year was 0.10837135. American Financial Group's net margin of last year was 0.09696602.
==> This year's net margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
American Financial Group's asset turnover of this year was 0.26774279. American Financial Group's asset turnover of last year was 0.27465751.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
American Financial Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.
American Financial Group (AFE) has a Piotroski F-Score of 6 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on American Financial Group and its competitors. This is near median its historical median of 6.00. Over the past decade, American Financial Group's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, American Financial Group ranks #190 out of 484 companies in the Insurance industry, placing it in the top 39.3%.
Is American Financial Group's Piotroski F-Score too high?
American Financial Group's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Insurance industry median Piotroski F-Score is 6.00. American Financial Group's value of 6 is 0% at this industry median. Based on the distribution chart, American Financial Group ranks #190 out of 484 companies in the Insurance industry, which is above the industry midpoint. Overall, American Financial Group has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does American Financial Group's Piotroski F-Score compare to CNA and AIZ?
According to the Insurance industry distribution chart, American Financial Group ranks #190 out of 484 companies for Piotroski F-Score. This puts American Financial Group in the upper half of its industry. The industry median Piotroski F-Score is 6.00. American Financial Group's value of 6 is 0% at this benchmark. Historically, American Financial Group's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, American Financial Group has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Insurance company?
The median Piotroski F-Score among Insurance companies is 6.00, based on 484 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Financial Group's current Piotroski F-Score of 6 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on American Financial Group and its competitors. For the Insurance industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Financial Group's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Financial Group stock overvalued right now?
American Financial Group (AFE) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Insurance industry median of 6.00. American Financial Group's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For American Financial Group (AFE), the current Piotroski F-Score is 6 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
American Financial Group Inc is an insurance holding company. Through its subsidiaries, it is engaged in the property and casualty insurance business, focusing on specialized commercial products for businesses. The group operates through two segments: Property and Casualty Insurance, which generates maximum revenue, and Other. The Property and Casualty Insurance segment is further divided into different sub-segments, such as Property and transportation, Specialty casualty, and Specialty financial. These sub-segments offer insurance coverage for vehicles and commercial property, customized programs for small to mid-sized businesses, workers' compensation insurance, risk management insurance programs for lending and leasing institutions, trade credit insurance, and other insurance products.
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