Selective Insurance Group Inc. (SIGI) intrinsic value & 10-year financials

Selective Insurance Group Inc. (SIGI) has a Graham intrinsic value of $210.01 per share. At $89.16 on Oct 17, 2026, the stock trades 58% below that value. Over the last 10 fiscal years revenue grew 9.9% a year to $5.3B, with an average return on invested capital of 9.1%.

Graham intrinsic value
$210.01
Share price (Oct 17, 2026)
$89.16
Price vs Graham value
58% below
Market cap
$5.4B
Revenue (FY2025)
$5.3B
Revenue growth (10-yr CAGR)
9.9%
ROIC (10-yr avg)
9.1%
Free cash flow (FY2025)
$1.2B

SIGI 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $5.3B $466.4M $7.49 $1.2B — 11.5%
FY2024 $4.9B $207.0M $3.23 $1.1B — 5.8%
FY2023 $4.2B $365.2M $5.84 $736.3M — 11.3%
FY2022 $3.6B $224.9M $3.54 $776.4M — 6.9%
FY2021 $3.4B $403.8M $6.50 $749.3M — 11.9%
FY2020 $2.9B $246.4M $4.09 $532.0M — 8.2%
FY2019 $2.8B $271.6M $4.53 $446.5M — 10.9%
FY2018 $2.6B $178.9M $3.00 $438.8M — 8.2%
FY2017 $2.5B $168.8M $2.84 — — 8.2%
FY2016 $2.3B $158.5M $2.70 — — 8.0%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

SELECTIVE INSURANCE GROUP INC is a consistent compounder, expanding top-line revenue at 9.9% annually over the past decade.

SELECTIVE INSURANCE GROUP INC returns on capital have been average, hovering around 9.1% ROIC over the decade.

Over the decade, SELECTIVE INSURANCE GROUP INC shows that the company has leveraged its balance sheet to sustain operations.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, SELECTIVE INSURANCE GROUP INC is modeled at 12.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $210.01 per share.

SIGI stock: frequently asked questions

What is the intrinsic value of Selective Insurance Group Inc. (SIGI) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 12.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, SIGI's intrinsic value is about $210.01 per share.

Is SIGI stock undervalued?

At $89.16 (close on Oct 17, 2026), SIGI trades 58% below its Graham value of $210.01. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Selective Insurance Group Inc. grown?

Revenue went from $2.3B in fiscal 2016 to $5.3B in fiscal 2025, a compound annual growth rate of 9.9%. Net income was $466.4M in fiscal 2025.

Does Selective Insurance Group Inc. generate free cash flow?

Selective Insurance Group Inc. generated $1.2B of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 8 of the last 8 reported years.

What is SIGI's return on invested capital?

Average ROIC over the last 10 fiscal years was 9.1%, and average return on equity was 11.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this SIGI data come from?

From Selective Insurance Group Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Jul 24, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

Similar fire, marine & casualty insurance stocks