United Fire Group Inc. (UFCS) intrinsic value & 10-year financials
United Fire Group Inc. (UFCS) has a Graham intrinsic value of $94.69 per share. At $56.44 on Oct 17, 2026, the stock trades 40% below that value. Over the last 10 fiscal years revenue grew 2.2% a year to $1.4B, with an average return on invested capital of 12.7%.
- Graham intrinsic value
- $94.69
- Share price (Oct 17, 2026)
- $56.44
- Price vs Graham value
- 40% below
- Market cap
- $1.5B
- Revenue (FY2025)
- $1.4B
- Revenue growth (10-yr CAGR)
- 2.2%
- ROIC (10-yr avg)
- 12.7%
- Free cash flow (FY2025)
- —
UFCS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.4B | $118.2M | $4.48 | — | — | 12.7% |
| FY2024 | $1.3B | $62.0M | $2.39 | — | — | — |
| FY2023 | $1.1B | -$29.7M | -$1.18 | — | — | — |
| FY2022 | $980.3M | $15.0M | $0.59 | — | — | — |
| FY2021 | $1.1B | $80.6M | — | — | — | — |
| FY2020 | $1.1B | -$112.7M | -$4.50 | — | — | — |
| FY2019 | $1.2B | $14.8M | $0.58 | — | — | — |
| FY2018 | $1.1B | $27.6M | $1.08 | — | — | — |
| FY2017 | $1.1B | $51.0M | $1.99 | — | — | — |
| FY2016 | $1.1B | $49.9M | $1.93 | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
UNITED FIRE GROUP INC has demonstrated mature, steady growth, with revenue compounding at 2.2% annually over the past decade.
UNITED FIRE GROUP INC returns on capital have been average, hovering around 12.7% ROIC over the decade.
UNITED FIRE GROUP INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, UNITED FIRE GROUP INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $94.69 per share.