The Travelers Companies, Inc. (TRV) Balance Sheet
TRV balance sheet, 2025
December 31, 2025 · U.S. dollars$143.71B assets = $110.81B liabilities + $32.89B equity
Both columns are drawn to the same scale: what TRV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TRV financial health
Descriptive bands, not a rating. Fiscal 2025.
TRV balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $100.25B2016 | $143.71B2025 | +4.1%/yr | |
| Total liabilities | $77.02B2016 | $110.81B2025 | +4.1%/yr | |
| Shareholders’ equity | $23.22B2016 | $32.89B2025 | +3.9%/yr | |
| Cash & short-term investments | $65.69B2016 | $26.17B2025 | −9.7%/yr | |
| Total debt | $6.99B2016 | $9.27B2025 | +3.2%/yr | |
| Net cash (debt) | $58.70B2016 | $16.90B2025 | −$41.8B | |
| Working capital | −$71.14B2016 | −$41.67B2025 | +$29.5B | |
| Book value per share | $79.802016 | $144.532025 | +6.8%/yr | |
| Debt / equity | 0.302016 | 0.282025 | −0.02 | |
| Shares outstanding | 291.0M2016 | 227.6M2025 | −2.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TRV assets
TRV liabilities and equity
TRV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TRV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $26.17B | $89.69B | $89.46B | $75.43B | $82.41B | $80.23B | $73.57B | $67.82B | $67.93B | $65.69B |
| Cash & equivalents | $710.0M | $568.0M | $650.0M | $799.0M | $761.0M | $721.0M | $494.0M | $373.0M | $344.0M | $307.0M |
| Short-term investments | $25.46B | $89.12B | $88.81B | $74.63B | $81.65B | $79.51B | $73.08B | $67.45B | $67.59B | $65.38B |
| Receivables | $22.77B | $23.03B | $10.97B | $20.56B | $20.43B | $20.42B | $20.76B | $20.66B | $20.23B | $19.62B |
| Inventory | $0 | $0 | −$105.27B | $0 | −$21.82B | −$24.03B | −$22.34B | $0 | $0 | $0 |
| Other current assets | $1.42B | $1.33B | $121.12B | $0 | $21.82B | $24.03B | $22.34B | $0 | $0 | $0 |
| Total current assets | $50.35B | $114.05B | $116.28B | $13.79B | $102.83B | $100.66B | $94.33B | $3.0M | $2.0M | $2.0M |
| Property, plant & equipment (net) | $0 | $0 | $73.44B | $0 | $85.38B | $82.77B | $76.39B | −$1.36B | −$1.65B | −$1.96B |
| Goodwill & intangible assets | $7.92B | $8.09B | $4.25B | $4.24B | $4.31B | $4.29B | $4.29B | $4.28B | $4.29B | $3.85B |
| Long-term investments | $96.17B | $89.12B | $83.55B | $81.10B | $82.54B | $85.03B | $77.88B | $67.82B | $68.04B | $70.49B |
| Other non-current assets | $0 | $0 | $0 | $16.59B | $0 | $0 | $0 | $33.49B | $32.80B | $27.87B |
| Total assets | $143.71B | $133.19B | $125.98B | $115.72B | $120.47B | $116.76B | $110.12B | $104.23B | $103.48B | $100.25B |
| Liabilities | ||||||||||
| Accounts payable | $3.56B | $3.74B | $3.79B | $4.01B | $4.29B | $4.62B | $4.98B | $5.07B | $5.05B | $4.88B |
| Short-term debt | $300.0M | $100.0M | $100.0M | $100.0M | $100.0M | $100.0M | $600.0M | $600.0M | $600.0M | $550.0M |
| Deferred revenue | $22.43B | $22.29B | $20.87B | $18.24B | $16.47B | — | — | — | — | — |
| Total current liabilities | $92.02B | $90.22B | $82.50B | $4.12B | $4.39B | $4.72B | $5.58B | $75.38B | $73.78B | $71.14B |
| Long-term debt | $9.27B | $7.93B | $7.93B | $7.29B | $7.29B | $6.55B | $6.56B | $6.56B | $6.57B | $6.44B |
| Other long-term liabilities | $9.52B | $7.17B | $10.63B | $0 | $189.0M | $458.0M | $0 | $0 | $0 | $0 |
| Total liabilities | $110.81B | $105.33B | $101.06B | $94.16B | $91.58B | $87.56B | $84.18B | $81.34B | $79.75B | $77.02B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $25.91B | $25.45B | $24.91B | $24.57B | $24.15B | $23.74B | $23.47B | $23.14B | $22.89B | $22.61B |
| Retained earnings (deficit) | $54.93B | $49.63B | $45.59B | $43.52B | $41.55B | $38.77B | $36.98B | $35.20B | $33.46B | $32.20B |
| Treasury stock | — | — | — | −$40.08B | −$38.02B | −$35.81B | −$35.14B | −$33.59B | −$32.27B | −$30.83B |
| Accumulated other comprehensive income | −$2.50B | −$4.97B | −$4.47B | −$6.45B | $1.19B | $2.50B | $640.0M | −$1.86B | −$343.0M | −$755.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $32.89B | $27.86B | $24.92B | $21.56B | $28.89B | $29.20B | $25.94B | $22.89B | $23.73B | $23.22B |
| Key figures | ||||||||||
| Total debt | $9.27B | $8.03B | $8.03B | $7.39B | $7.39B | $6.65B | $7.16B | $7.16B | $7.17B | $6.99B |
| Net cash (debt) | $16.90B | $81.65B | $81.43B | $68.04B | $75.02B | $73.58B | $66.41B | $60.66B | $60.76B | $58.70B |
| Working capital | −$41.67B | $23.83B | $33.78B | $9.67B | $98.44B | $95.94B | $88.75B | −$75.37B | −$73.78B | −$71.14B |
| Tangible book value | $24.97B | $19.78B | $20.67B | $17.32B | $24.57B | $24.91B | $21.65B | $18.61B | $19.44B | $19.37B |
| Book value per share | $144.53 | $120.57 | $107.33 | $89.95 | $115.18 | $114.69 | $98.91 | $84.86 | $85.18 | $79.80 |
| Shares outstanding | 227.6M | 231.1M | 232.2M | 239.7M | 250.8M | 254.6M | 262.3M | 269.8M | 278.6M | 291.0M |
| Current ratio | 0.55 | 1.26 | 1.41 | 3.35 | 23.40 | 21.34 | 16.90 | 0.00 | 0.00 | 0.00 |
| Quick ratio | 0.53 | 1.25 | 1.22 | 23.33 | 23.40 | 21.34 | 16.90 | 1.17 | 1.19 | 1.20 |
| Debt / equity | 0.28 | 0.29 | 0.32 | 0.34 | 0.26 | 0.23 | 0.28 | 0.31 | 0.30 | 0.30 |
| Equity / assets | 22.9% | 20.9% | 19.8% | 18.6% | 24.0% | 25.0% | 23.6% | 22.0% | 22.9% | 23.2% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $96.34B | $5.20B | $98.01B | $26.17B | $99.19B | $93.49B | $91.30B | $89.69B | $90.94B | $90.24B | $89.32B | $89.46B |
| Cash & equivalents | $766.0M | $621.0M | $615.0M | $710.0M | $592.0M | $521.0M | $724.0M | $568.0M | $772.0M | $729.0M | $667.0M | $650.0M |
| Short-term investments | $95.57B | $4.58B | $97.40B | $25.46B | $98.60B | $92.97B | $90.57B | $89.12B | $90.17B | $89.51B | $88.66B | $88.81B |
| Receivables | $24.12B | $15.46B | $23.26B | $22.77B | $23.79B | $23.98B | $23.58B | $23.03B | $23.30B | $12.18B | $11.48B | $10.97B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$21.48B | −$12.22B | −$105.53B | −$105.27B |
| Other current assets | $5.25B | $0 | $1.88B | $1.42B | $1.82B | $1.83B | $1.80B | $1.33B | $22.98B | $28.58B | $121.82B | $121.12B |
| Total current assets | $125.71B | $20.66B | $123.15B | $50.35B | $124.81B | $119.30B | $116.68B | $114.05B | $115.75B | $118.78B | $117.08B | $116.28B |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$188.86B | $283.0M | −$35.0M | $73.44B |
| Goodwill & intangible assets | $4.39B | $4.38B | $7.98B | $7.92B | $8.30B | $8.30B | $8.14B | $8.09B | $8.22B | $4.62B | $4.63B | $4.25B |
| Long-term investments | $0 | $98.15B | $97.99B | $96.17B | $98.60B | $92.97B | $90.57B | $89.12B | $90.17B | $84.19B | $83.36B | $83.55B |
| Other non-current assets | $11.99B | $20.38B | $0 | $0 | $0 | $0 | $0 | $0 | $109.31B | $0 | $0 | $0 |
| Total assets | $142.09B | $143.58B | $142.31B | $143.71B | $143.68B | $138.87B | $135.98B | $133.19B | $134.59B | $129.31B | $127.41B | $125.98B |
| Liabilities | ||||||||||||
| Accounts payable | — | $3.09B | $4.19B | $3.56B | $4.06B | $4.10B | $4.30B | $3.74B | $4.23B | $4.16B | $4.17B | $3.79B |
| Short-term debt | — | — | $300.0M | $300.0M | $300.0M | $300.0M | $100.0M | $100.0M | $100.0M | $100.0M | $100.0M | $100.0M |
| Deferred revenue | $23.52B | $23.33B | $22.77B | $22.43B | $23.60B | $23.29B | $22.72B | $22.29B | $22.78B | $20.64B | $19.77B | $19.72B |
| Total current liabilities | $95.54B | $101.39B | $94.17B | $92.02B | $95.66B | $94.63B | $93.10B | $90.22B | $91.86B | $85.95B | $83.79B | $82.50B |
| Long-term debt | $0 | $8.97B | $8.97B | $9.27B | $8.97B | $7.73B | $7.93B | $7.93B | $7.93B | $7.93B | $7.93B | $7.93B |
| Other long-term liabilities | $17.56B | $100.0M | $7.18B | $9.52B | $7.44B | $6.99B | $6.75B | $7.17B | $7.10B | $10.57B | $10.66B | $10.63B |
| Total liabilities | $113.09B | $110.46B | $110.32B | $110.81B | $112.07B | $109.36B | $107.79B | $105.33B | $106.89B | $104.45B | $102.39B | $101.06B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $26.31B | $26.19B | $26.09B | $25.91B | $25.82B | $25.73B | $25.58B | $25.45B | $25.34B | $25.25B | $25.16B | $24.91B |
| Retained earnings (deficit) | $60.00B | $58.35B | $56.40B | $54.93B | $52.68B | $51.04B | $49.78B | $49.63B | $47.79B | $46.77B | $46.48B | $45.59B |
| Accumulated other comprehensive income | −$7.06B | −$2.67B | −$3.08B | −$2.50B | −$3.09B | −$4.08B | −$4.57B | −$4.97B | −$3.43B | −$5.41B | −$5.13B | −$4.47B |
| Total shareholders' equity | $29.00B | $33.12B | $31.99B | $32.89B | $31.61B | $29.52B | $28.19B | $27.86B | $27.70B | $24.86B | $25.02B | $24.92B |
| Key figures | ||||||||||||
| Total debt | $9.81B | $9.07B | $9.27B | $9.27B | $9.27B | $8.03B | $8.03B | $8.03B | $8.03B | $8.13B | $8.03B | $8.03B |
| Net cash (debt) | $86.53B | −$3.87B | $88.74B | $16.90B | $89.93B | $85.45B | $83.26B | $81.65B | $82.91B | $82.11B | $81.29B | $81.43B |
| Working capital | $30.17B | −$80.73B | $28.98B | −$41.67B | $29.14B | $24.67B | $23.57B | $23.83B | $23.89B | $32.83B | $33.29B | $33.78B |
| Tangible book value | $24.61B | $28.74B | $24.01B | $24.97B | $23.30B | $21.22B | $20.05B | $19.78B | $19.48B | $20.24B | $20.39B | $20.67B |
| Book value per share | $137.68 | $155.06 | $146.46 | $146.85 | $138.94 | $128.73 | $122.36 | $120.78 | $120.10 | $107.40 | $107.85 | $107.84 |
| Shares outstanding | 210.6M | 213.6M | 218.4M | 224.0M | 227.5M | 229.3M | 230.4M | 230.7M | 230.6M | 231.5M | 232.0M | 231.1M |
| Current ratio | 1.32 | 0.20 | 1.31 | 0.55 | 1.30 | 1.26 | 1.25 | 1.26 | 1.26 | 1.38 | 1.40 | 1.41 |
| Quick ratio | 1.26 | 0.20 | 1.29 | 0.53 | 1.29 | 1.24 | 1.23 | 1.25 | 1.24 | 1.19 | 1.20 | 1.22 |
| Debt / equity | 0.34 | 0.27 | 0.29 | 0.28 | 0.29 | 0.27 | 0.28 | 0.29 | 0.29 | 0.33 | 0.32 | 0.32 |
| Equity / assets | 20.4% | 23.1% | 22.5% | 22.9% | 22.0% | 21.3% | 20.7% | 20.9% | 20.6% | 19.2% | 19.6% | 19.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
TRV financial position
At the end of fiscal 2025 (December 31, 2025), Travelers had total assets of $143.7 billion (up 7.9% from a year earlier), total liabilities of $110.8 billion and shareholders' equity of $32.9 billion. It held $26.2 billion in cash and short-term investments against $9.3 billion of debt, a net cash position of $16.9 billion. Its current ratio was 0.55. In the latest quarter (ended September 30, 2026) total assets were $142.1 billion and equity $29.0 billion.
Related: TRV income statement, TRV cash flow statement, TRV key metrics. See the TRV stock overview for the latest quote and news.
TRV balance sheet FAQ
What are Travelers's total assets?
Travelers reported total assets of $143.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $133.2 billion a year earlier.
How much debt does Travelers have?
Travelers had $9.3 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.28.
How much cash does Travelers have?
Travelers held $26.2 billion in cash and short-term investments at the end of fiscal 2025; with $9.3 billion of debt that is net cash of $16.9 billion.
What is Travelers's book value?
Travelers's shareholders' equity (book value) was $32.9 billion at the end of fiscal 2025, or $144.53 per share.
What is Travelers's current ratio?
Travelers had current assets of $50.3 billion and current liabilities of $92.0 billion, a current ratio of 0.55 (current liabilities exceed current assets).
How much goodwill does Travelers have?
Travelers carried $7.9 billion of goodwill and intangible assets, 5.5% of total assets, at the end of fiscal 2025.