The Travelers Companies, Inc. (TRV) Key Metrics
TRV valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $81.25B
- Enterprise value
- $70.56B
- P/E (TTM)
- 10.5 10-yr median 13.0
- Forward P/E
- 10.8
- PEG ratio
- 2.70
- Price / sales
- 1.7 10-yr median 1.2
- Price / book
- 2.1 10-yr median 1.6
- EV / EBITDA
- —
- Dividend yield
- 1.28% $5.00 a year
- Beta
- 0.44
TRV key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTRV valuation Price multiples at each fiscal year-end price.
TRV returns How much profit the business earns on the capital it uses.
TRV per-share figures Results divided by the shares outstanding at year-end.
TRV financial health Debt, liquidity and how easily interest is covered.
TRV efficiency & capital use Working capital cycle and where the cash goes.
TRV valuation history
TRV returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TRV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TRV cash returned to shareholders
TRV price vs earnings per share
TRV key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $66.02B | $55.67B | $44.23B | $44.94B | $39.23B | $35.74B | $35.92B | $32.31B | $37.79B | $35.62B |
| Enterprise value | $49.12B | −$25.98B | −$37.20B | −$23.10B | −$35.78B | −$37.85B | −$30.49B | −$28.35B | −$22.97B | −$23.08B |
| P/E ratio | 10.5 | 11.1 | 14.8 | 15.8 | 10.7 | 13.3 | 13.7 | 12.8 | 18.4 | 11.8 |
| Price / sales | 1.4 | 1.2 | 1.1 | 1.2 | 1.1 | 1.1 | 1.1 | 1.1 | 1.3 | 1.3 |
| Price / book | 2.0 | 2.0 | 1.8 | 2.1 | 1.4 | 1.2 | 1.4 | 1.4 | 1.6 | 1.5 |
| Price / free cash flow | 6.2 | 6.1 | 5.7 | 6.2 | 5.4 | 5.5 | 6.9 | 7.4 | 9.1 | 8.0 |
| Price / operating cash flow | 6.2 | 6.1 | 5.7 | 6.2 | 5.4 | 5.5 | 6.9 | 7.4 | 9.1 | 8.0 |
| EV / sales | 1.0 | -0.6 | -0.9 | -0.6 | -1.0 | -1.2 | -1.0 | -0.9 | -0.8 | -0.8 |
| EV / EBITDA | 5.5 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 4.6 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 9.5% | 9.0% | 6.8% | 6.3% | 9.3% | 7.5% | 7.3% | 7.8% | 5.4% | 8.5% |
| Free cash flow yield | 16.1% | 16.3% | 17.4% | 16.2% | 18.5% | 18.2% | 14.5% | 13.6% | 11.0% | 12.5% |
| Dividend yield | 1.5% | 1.7% | 2.1% | 1.9% | 2.2% | 2.4% | 2.3% | 2.5% | 2.1% | 2.1% |
| Shareholder yield (dividends + buybacks) | 6.2% | 3.7% | 4.4% | 6.8% | 7.8% | 4.3% | 6.7% | 6.6% | 5.9% | 9.1% |
| Share price at fiscal year-end | $290.06 | $240.89 | $190.49 | $187.49 | $156.43 | $140.37 | $136.95 | $119.75 | $135.64 | $122.42 |
| Per share | ||||||||||
| Revenue per share | $214.53 | $200.90 | $178.18 | $153.93 | $138.82 | $125.61 | $120.40 | $112.24 | $103.74 | $94.93 |
| Earnings per share | $27.63 | $21.63 | $12.88 | $11.86 | $14.60 | $10.59 | $10.00 | $9.35 | $7.38 | $10.36 |
| Operating cash flow per share | $46.60 | $39.26 | $33.21 | $30.35 | $29.00 | $25.60 | $19.84 | $16.23 | $14.89 | $15.36 |
| Free cash flow per share | $46.60 | $39.26 | $33.21 | $30.35 | $29.02 | $25.60 | $19.84 | $16.23 | $14.89 | $15.36 |
| Cash per share | $114.98 | $388.09 | $385.27 | $314.68 | $328.58 | $315.14 | $280.48 | $251.38 | $243.84 | $225.73 |
| Book value per share | $144.53 | $120.57 | $107.33 | $89.95 | $115.18 | $114.69 | $98.91 | $84.86 | $85.18 | $79.80 |
| Tangible book value per share | $109.73 | $85.58 | $89.01 | $72.26 | $97.98 | $97.83 | $82.55 | $68.98 | $69.77 | $66.57 |
| Dividends per share | $4.30 | $4.12 | $3.91 | $3.63 | $3.46 | $3.38 | $3.22 | $3.02 | $2.82 | $2.60 |
| Capex per share | $46.60 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.41 | $0.27 | $0.13 | $0.16 |
| Debt per share | $40.72 | $34.76 | $34.59 | $30.84 | $29.47 | $26.12 | $27.29 | $26.55 | $25.74 | $24.01 |
| Shares outstanding | 227.6M | 231.1M | 232.2M | 239.7M | 250.8M | 254.6M | 262.3M | 269.8M | 278.6M | 291.0M |
| Change in shares outstanding | −1.5% | −0.5% | −3.1% | −4.4% | −1.5% | −2.9% | −2.8% | −3.2% | −4.3% | −7.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 20.7% | 18.9% | 12.9% | 11.3% | 12.6% | 9.8% | 10.7% | 10.8% | 8.8% | 12.9% |
| Return on assets (ROA) | 4.5% | 3.9% | 2.5% | 2.4% | 3.1% | 2.4% | 2.4% | 2.4% | 2.0% | 3.0% |
| Return on tangible assets | 4.6% | 4.0% | 2.5% | 2.5% | 3.2% | 2.4% | 2.5% | 2.5% | 2.1% | 3.1% |
| Free cash flow margin | 21.7% | 19.5% | 18.6% | 19.7% | 20.9% | 20.4% | 16.5% | 14.5% | 14.4% | 16.2% |
| Income quality (OCF / net income) | 1.69 | 1.82 | 2.58 | 2.56 | 1.99 | 2.42 | 1.99 | 1.74 | 2.02 | 1.48 |
| Financial health | ||||||||||
| Total debt | $9.27B | $8.03B | $8.03B | $7.39B | $7.39B | $6.65B | $7.16B | $7.16B | $7.17B | $6.99B |
| Cash & short-term investments | $26.17B | $89.69B | $89.46B | $75.43B | $82.41B | $80.23B | $73.57B | $67.82B | $67.93B | $65.69B |
| Net debt | −$16.90B | −$81.65B | −$81.43B | −$68.04B | −$75.02B | −$73.58B | −$66.41B | −$60.66B | −$60.76B | −$58.70B |
| Debt / equity | 0.28 | 0.29 | 0.32 | 0.34 | 0.26 | 0.23 | 0.28 | 0.31 | 0.30 | 0.30 |
| Debt / assets | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 |
| Net debt / EBITDA | −1.90 | −11.21 | −18.22 | −15.02 | −13.24 | −16.86 | −15.64 | −14.74 | −15.53 | −11.20 |
| Current ratio | 0.55 | 1.26 | 1.41 | 3.35 | 23.40 | 21.34 | 16.90 | 0.00 | 0.00 | 0.00 |
| Quick ratio | 0.55 | 1.26 | 2.69 | 3.35 | 28.36 | 26.43 | 20.90 | 0.00 | 0.00 | 0.00 |
| Interest coverage | 18.3 | 15.8 | 9.0 | 9.6 | 13.1 | 9.5 | 9.1 | 8.4 | 7.4 | 11.2 |
| Working capital | −$41.67B | $23.83B | $33.78B | $9.67B | $98.44B | $95.94B | $88.75B | −$75.37B | −$73.78B | −$71.14B |
| Invested capital | $15.99B | −$53.79B | −$56.51B | −$46.48B | −$46.13B | −$44.38B | −$40.47B | −$37.76B | −$37.03B | −$35.48B |
| Tangible asset value | $24.97B | $19.78B | $20.67B | $17.32B | $24.57B | $24.91B | $21.65B | $18.61B | $19.44B | $19.37B |
| Net current asset value | −$60.47B | $8.73B | $15.22B | −$80.37B | $11.26B | $13.09B | $10.15B | −$81.34B | −$79.75B | −$77.02B |
| Graham number | $299.73 | $242.24 | $176.37 | $154.90 | $194.52 | $165.34 | $149.15 | $133.62 | $118.93 | $136.37 |
| Graham net-net per share | −$296.89 | $7.08 | −$241.19 | −$13.79 | −$18.99 | −$15.82 | −$23.66 | $7.33 | $12.03 | $11.60 |
| Capital allocation | ||||||||||
| Dividends paid | $979.0M | $951.0M | $908.0M | $869.0M | $869.0M | $861.0M | $844.0M | $814.0M | $785.0M | $757.0M |
| Share buybacks (net) | $3.13B | $1.12B | $1.02B | $2.20B | $2.20B | $672.0M | $1.55B | $1.32B | $1.44B | $2.47B |
| Dividend payout ratio | 15.6% | 19.0% | 30.4% | 30.6% | 23.7% | 31.9% | 32.2% | 32.3% | 38.2% | 25.1% |
| Dividends + buybacks / free cash flow | 38.8% | 22.8% | 25.0% | 42.2% | 42.2% | 23.5% | 46.0% | 48.7% | 53.6% | 72.3% |
| Capex / revenue | 21.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.2% | 0.1% | 0.2% |
| Capex / operating cash flow | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.1% | 1.7% | 0.9% | 1.1% |
| Capex / depreciation | 15.60 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.14 | 0.09 | 0.04 | 0.06 |
| Stock-based compensation / revenue | — | −0.2% | 0.5% | −0.2% | 0.5% | 14.1% | 11.7% | 0.5% | 0.5% | 0.6% |
| SG&A / revenue | 12.5% | 12.5% | 12.7% | 13.0% | 13.4% | 14.1% | 13.8% | 14.2% | 14.4% | 15.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 171.2 | 133.7 | 139.1 | 202.8 | 214.1 | 235.0 | 239.4 | 246.4 | 251.6 | 259.9 |
| Days of inventory on hand | — | — | -1,184.4 | — | -330.2 | -354.2 | -343.6 | — | — | — |
| Days payables outstanding | 38.6 | 40.4 | 43.9 | 53.5 | 64.2 | 73.3 | 77.3 | 81.5 | 83.8 | 91.5 |
| Cash conversion cycle (days) | 132.6 | 93.3 | -1,089.2 | 149.3 | -180.3 | -192.5 | -181.6 | 164.9 | 167.8 | 168.4 |
| Receivables turnover | 2.13 | 2.73 | 2.62 | 1.80 | 1.70 | 1.55 | 1.52 | 1.48 | 1.45 | 1.40 |
| Payables turnover | 9.46 | 9.04 | 8.32 | 6.83 | 5.69 | 4.98 | 4.72 | 4.48 | 4.36 | 3.99 |
| Asset turnover | 0.35 | 0.36 | 0.34 | 0.31 | 0.29 | 0.28 | 0.29 | 0.29 | 0.28 | 0.28 |
| Average receivables | $22.90B | $17.00B | $15.77B | $20.50B | $20.42B | $20.59B | $20.71B | $20.44B | $19.92B | $19.67B |
| Average payables | $3.65B | $3.76B | $3.90B | $4.16B | $4.46B | $4.80B | $5.03B | $5.06B | $4.97B | $4.78B |
| Average inventory | — | — | −$105.27B | — | −$22.93B | −$23.19B | −$22.34B | — | $0 | $0 |
| Intangibles / total assets | 5.5% | 6.1% | 3.4% | 3.7% | 3.6% | 3.7% | 3.9% | 4.1% | 4.1% | 3.8% |
Computed from TRV's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TRV valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Travelers traded at 10.5 times earnings, against a 10-year median of 13.0. Based on the latest twelve months, the trailing P/E is 10.5 and the forward P/E is 10.8. Travelers earned a return on equity of 20.7% in fiscal 2025. It ended the year with $9.3 billion of debt and $26.2 billion in cash and short-term investments, a net cash position of $16.9 billion. It returned $4.1 billion to shareholders: $979.0 million in dividends and $3.1 billion in share buybacks, 39% of free cash flow. The share count fell 21.8% from 291.0M to 227.6M over 9 years.
See the TRV income statement, the TRV chart for price history, or the TRV stock overview for the latest quote and news.
TRV key metrics FAQ
What is Travelers's P/E ratio?
Travelers's trailing P/E ratio is 10.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.8. At the end of fiscal 2025 it was 10.5, compared with a 10-year median of 13.0.
What is Travelers's EV/EBITDA?
Travelers's enterprise value was 5.5 times EBITDA at the end of fiscal 2025 (enterprise value $49.1 billion, EBITDA $8.9 billion).
What is Travelers's return on equity?
Travelers's return on equity (ROE) was 20.7% in fiscal 2025: net income of $6.3 billion on average shareholders' equity of $30.4 billion.
How much debt does Travelers have?
Travelers had total debt of $9.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.28 and more cash than debt.
What is Travelers's dividend yield?
Travelers's forward dividend yield is 1.28%. Travelers paid $979.0 million in dividends in fiscal 2025 ($4.30 per share), a payout ratio of 15.6%.
Does Travelers buy back its shares?
Yes. Travelers spent $3.1 billion on net share repurchases in fiscal 2025 Shares outstanding changed −1.5% over the year, to 227.6M..
What is Travelers's free cash flow yield?
Travelers generated $10.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 16.1% on its market value at year-end ($66.0 billion).
What is Travelers's current ratio?
Travelers's current ratio was 0.55 at the end of fiscal 2025: current assets were 0.55 times current liabilities.