AFG American Financial Group margins

Relative Growth: Rel. Growth: 59

Relative Strength: Rel. Strength: 51

Relative Valuation: Rel. Valuation: 87

Relative Profitability: Rel. Profitability: 57

Gross margin

22.3%

Operating margin

15.6%

EBITDA margin

16.7%

Net margin

11.5%

Currently, American Financial Group has a gross margin of 22.3%, an operating margin of 15.6%, an EBITDA margin of 16.7%, and a net margin of 11.5%. Each available margin improved from the same period last year. EBITDA margin recorded the strongest gain, increasing by 3 percentage points.

AFG margin history

Gross, operating, EBITDA and net margin trends

American Financial Group's margins averaged 22.05% gross, 14.29% operating, 15.31% EBITDA, and 10.52% net during the last 3 years. Currently all four current margins are above their three-year averages.

AFG margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 2.4 percentage points, operating margin by 2.9 percentage points, EBITDA margin by 3 percentage points, and net margin by 2.3 percentage points, led by EBITDA margin with an increase of 3 percentage points.

Gross margin expansion

2.4pp

Operating margin expansion

2.9pp

EBITDA margin expansion

3pp

Net margin expansion

2.3pp

AFG Gross margin

Looking back over the last 3 years, American Financial Group recorded an average gross margin of 22.05%. American Financial Group's current gross margin is 22.3% and is 0.3 percentage points above its three-year average. The highest gross margin for American Financial Group was 23.8% in Mar 2024, while the lowest was 19.9% in Jun 2025.

AFG Operating margin

The average operating margin for American Financial Group was 14.29% during the last 3 years. The latest operating margin for American Financial Group is 15.6%, 1.3 percentage points above its three-year average. The operating margin for American Financial Group moved between 12.7% in Jun 2025 and 15.6% in Jun 2026.

AFG EBITDA margin

Across the last 3 years, American Financial Group had an average EBITDA margin of 15.31%. American Financial Group's current EBITDA margin is 16.7% and is 1.4 percentage points above its three-year average. Looking back over the last 3 years, American Financial Group's EBITDA margin reached 16.7% at its highest point in Jun 2026 and 13.7% at its lowest in Jun 2025.

AFG Net margin

Across the last 3 years, American Financial Group's net margin stood at 10.52%. Against its three-year average, American Financial Group's net margin is currently 11.5%, 1 percentage points above its three-year average. Net margin was highest at 11.5% in Jun 2026 and lowest at 9.2% in Jun 2025.

AFG margin group comparison

Margins compared with peer-group, industry and sector averages

American Financial Group's gross margin of 22.3% is lower than the Financial Services sector, the industry and its peers average. In comparison with the Financial Services sector average of 83.9%, American Financial Group's gross margin is 73% lower.

AFG margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is American Financial Group's gross margin?

As of Jun 30, 2026, AFG has a gross margin of 22.3%.

What is American Financial Group's operating margin?

For the period ending Jun 30, 2026, AFG recorded an operating margin of 15.6%.

What is American Financial Group's EBITDA margin?

As of Jun 30, 2026, AFG has an EBITDA margin of 16.7%.

What is American Financial Group's net margin?

As of Jun 30, 2026, AFG has a net margin of 11.5%.

What are the average margins of AFG?

American Financial Group's gross, operating, EBITDA, and net margins averaged 22.1% gross, 14.3% operating, 15.3% EBITDA, and 10.5% net over the last 3 years.

What are the highest historical margins of AFG?

Over this 5-year history, AFG peaked at 28.2% gross in Mar 2022, 21.9% operating in Mar 2022, 38.6% EBITDA in Dec 2021, and 30.4% net in Dec 2021.

What are the lowest historical margins of AFG?

Within the 5-year period, AFG recorded its lowest margins at 19.9% gross in Jun 2025, 12.7% operating in Jun 2025, 13.7% EBITDA in Jun 2025, and 9.2% net in Jun 2025.