United Fire Group, Inc. (UFCS) Income Statement
UFCS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsUFCS revenue and net income
Where UFCS's revenue goes
2025Each bar shows an amount and its share of revenue. UFCS kept 8.5% of revenue as net income.
UFCS profit margins
UFCS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.7% | +11.9% | +5.2% | +4.5% |
| Gross profit | +175.3% | +65.2% | — | +13.7% |
| Operating income | +92.0% | +130.5% | — | +2.5% |
| Net income | +90.8% | +98.9% | — | +2.9% |
| EPS (diluted) | +80.4% | +62.1% | — | +2.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
UFCS quarterly EPS vs estimates
United Fire beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 3, 2026 (estimate $1.19).
UFCS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.39B | $1.25B | $1.10B | $988.2M | $1.06B | $1.08B | $1.20B | $1.08B | $1.06B | $986.2M |
| Cost of revenue | $764.4M | $1.03B | $1.01B | $850.4M | $855.6M | $1.08B | $1.05B | $937.8M | $933.5M | $875.4M |
| Gross profit | $622.0M | $225.9M | $83.9M | $137.8M | $200.9M | −$1.5M | $153.2M | $142.4M | $122.1M | $110.8M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | — | — | — | — | — | — | — | — | $0 | $0 |
| Total operating expenses | $474.1M | $148.9M | $123.6M | $125.8M | $104.1M | $168.1M | $136.3M | $151.6M | $106.4M | $53.3M |
| Operating income | $147.9M | $77.0M | −$39.7M | $12.1M | $96.8M | −$169.5M | $16.9M | −$9.2M | $15.7M | $57.5M |
| Interest income | $106.7M | $86.5M | $66.0M | $53.9M | $55.0M | $57.6M | $66.0M | $70.4M | $60.0M | $102.6M |
| Interest expense | $11.3M | $7.3M | $3.3M | $3.2M | $3.2M | $133,000 | $0 | $0 | $0 | $0 |
| Income before taxes | $147.9M | $77.0M | −$39.7M | $12.1M | $96.8M | −$169.5M | $16.9M | −$9.2M | $15.7M | $57.5M |
| Income taxes | $29.7M | $15.1M | −$10.0M | −$3.0M | $16.2M | −$56.8M | $2.1M | −$11.4M | −$29.2M | $8.4M |
| Net income | $118.2M | $62.0M | −$29.7M | $15.0M | $80.6M | −$112.7M | $14.8M | $27.6M | $51.0M | $49.9M |
| EBITDA | $170.0M | $95.2M | −$26.0M | $22.9M | $106.6M | −$162.9M | $28.1M | −$4.0M | $20.2M | $63.5M |
| EPS (diluted) | $4.60 | $2.55 | −$1.23 | $1.08 | $1.70 | −$2.88 | −$1.12 | $1.10 | $1.01 | $1.83 |
| Gross margin | 44.9% | 18.0% | 7.6% | 13.9% | 19.0% | −0.1% | 12.8% | 13.2% | 11.6% | 11.2% |
| Operating margin | 10.7% | 6.2% | −3.6% | 1.2% | 9.2% | −15.7% | 1.4% | −0.8% | 1.5% | 5.8% |
| Net margin | 8.5% | 4.9% | −2.7% | 1.5% | 7.6% | −10.5% | 1.2% | 2.6% | 4.8% | 5.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $383.7M | $369.4M | $365.8M | $354.0M | $336.6M | $331.1M | $331.7M | $323.0M | $301.2M | $296.0M | $290.2M | $274.0M |
| Cost of revenue | $212.3M | $208.1M | $192.8M | $269.7M | $268.1M | $267.1M | $253.3M | $258.6M | $268.7M | $245.3M | $234.6M | $235.5M |
| Gross profit | $383.7M | $161.3M | $173.0M | $84.3M | $68.4M | $64.1M | $78.4M | $64.4M | $32.5M | $50.7M | $55.6M | $38.4M |
| Total operating expenses | $341.8M | $123.3M | $124.8M | $35.6M | $39.2M | $42.2M | $38.9M | $39.4M | $36.2M | $34.4M | $31.5M | $30.1M |
| Operating income | $41.9M | $38.0M | $48.2M | $48.7M | $29.2M | $21.9M | $39.5M | $25.0M | −$3.8M | $16.3M | $24.1M | $8.4M |
| Interest income | $26.3M | $24.9M | $42.4M | $21.9M | $21.3M | $21.1M | $36.3M | $18.7M | $15.9M | $15.5M | $23.6M | $15.1M |
| Interest expense | $3.2M | $3.2M | $3.2M | $3.1M | $2.5M | $2.5M | $2.5M | $2.5M | $1.5M | $859,000 | $869,000 | $797,000 |
| Income before taxes | $41.9M | $38.0M | $48.2M | $48.7M | $29.2M | $21.9M | $39.5M | $25.0M | −$3.8M | $16.3M | $24.1M | $8.4M |
| Income taxes | $8.6M | $8.0M | $9.8M | $9.5M | $6.3M | $4.2M | $8.1M | $5.2M | −$1.0M | $2.8M | $4.5M | $2.0M |
| Net income | $33.4M | $30.1M | $38.4M | $39.2M | $22.9M | $17.7M | $31.4M | $19.7M | −$2.7M | $13.5M | $19.6M | $6.4M |
| EBITDA | $47.8M | $44.1M | $54.3M | $54.6M | $34.2M | $26.8M | $44.6M | $30.0M | $853,000 | $19.8M | $27.7M | $11.8M |
| EPS (diluted) | $1.30 | $1.15 | $1.50 | $1.50 | $0.90 | $0.70 | $1.25 | $0.81 | −$0.07 | $0.56 | $0.65 | $0.31 |
| Gross margin | 100.0% | 43.7% | 47.3% | 23.8% | 20.3% | 19.3% | 23.6% | 19.9% | 10.8% | 17.1% | 19.2% | 14.0% |
| Operating margin | 10.9% | 10.3% | 13.2% | 13.7% | 8.7% | 6.6% | 11.9% | 7.7% | −1.3% | 5.5% | 8.3% | 3.1% |
| Net margin | 8.7% | 8.1% | 10.5% | 11.1% | 6.8% | 5.3% | 9.5% | 6.1% | −0.9% | 4.6% | 6.8% | 2.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in UFCS's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
UFCS financial results
In fiscal year 2025 (ended December 31, 2025), United Fire reported revenue of $1.4 billion, up 10.7% from the year before. It had net income of $118.2 million (up 90.8%), a net profit margin of 8.5%. Diluted earnings per share came to $4.60. Over five years revenue grew at an average rate of 5.2% a year.
See the UFCS stock overview for the latest quote and news, or the UFCS chart for price history and technical indicators.
UFCS income statement FAQ
What is United Fire's annual revenue?
United Fire reported total revenue of $1.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 10.7% from $1.3 billion the previous year.
Is United Fire profitable?
Yes. United Fire reported net income of $118.2 million in fiscal 2025, a net profit margin of 8.5%; its operating margin was 10.7%.
What is United Fire's gross margin?
United Fire's gross margin was 44.9% in fiscal 2025: for every $100 of revenue, United Fire kept $45 after the direct cost of its products and services.
How fast is United Fire growing?
Revenue grew 5.2% a year on average over the last five fiscal years, from $1.1 billion to $1.4 billion.
What are United Fire's earnings per share?
United Fire earned $4.60 per diluted share in fiscal 2025, compared with $2.55 a year earlier.
When will United Fire report its next earnings?
United Fire is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does United Fire's fiscal year end?
United Fire's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.