Travelers COMPANIES, Inc. (TRV) intrinsic value & 10-year financials
Travelers COMPANIES, Inc. (TRV) has a Graham intrinsic value of $579.79 per share. At $389.54 on Oct 17, 2026, the stock trades 33% below that value. Over the last 10 fiscal years revenue grew 6.5% a year to $48.8B, with an average return on invested capital of 13.2%.
- Graham intrinsic value
- $579.79
- Share price (Oct 17, 2026)
- $389.54
- Price vs Graham value
- 33% below
- Market cap
- $88.7B
- Revenue (FY2025)
- $48.8B
- Revenue growth (10-yr CAGR)
- 6.5%
- ROIC (10-yr avg)
- 13.2%
- Free cash flow (FY2025)
- —
TRV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $48.8B | $6.3B | $27.43 | — | — | 21.2% |
| FY2024 | $46.4B | $5.0B | $21.47 | — | — | 19.4% |
| FY2023 | $41.4B | $3.0B | $12.79 | — | — | 13.2% |
| FY2022 | $36.9B | $2.8B | $11.77 | — | — | 11.6% |
| FY2021 | $34.8B | $3.7B | $14.49 | — | — | 12.9% |
| FY2020 | $32.0B | $2.7B | $10.52 | — | — | 10.0% |
| FY2019 | $31.6B | $2.6B | $9.92 | — | — | 10.9% |
| FY2018 | $30.3B | $2.5B | $9.28 | — | — | 10.9% |
| FY2017 | $28.9B | $2.1B | $7.33 | — | — | 8.8% |
| FY2016 | $27.6B | $3.0B | $10.28 | — | — | 13.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Travelers Companies (The) has demonstrated mature, steady growth, with revenue compounding at 6.5% annually over the past decade.
Travelers Companies (The) returns on capital have been average, hovering around 13.2% ROIC over the decade.
Over the decade, Travelers Companies (The) shows that management has aggressively returned capital to shareholders by retiring 21.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Travelers Companies (The) is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $579.79 per share.