UNITED FIRE GROUP INC (UFCS) financial statements: income statement, balance sheet and cash flow
UNITED FIRE GROUP INC's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), UNITED FIRE GROUP INC reported revenue of $1.4B (+10.6% year on year) and net income of $118.2M (+90.8% year on year).
Income statement
UNITED FIRE GROUP INC income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net earned premium
$1.3B
$1.2B
$1.0B
$951.5M
Net investment income
$97.5M
$82.0M
$59.6M
$44.9M
Net investment gains (losses)
($3.8M)
($5.4M)
$1.3M
($15.9M)
Total revenues
$1.4B
$1.3B
$1.1B
$980.3M
Losses and loss settlement expenses
$764.4M
$744.6M
$769.4M
$637.3M
Amortization of deferred policy acquisition costs
$315.3M
$281.3M
$245.0M
$213.1M
Other underwriting expenses
$146.6M
$140.9M
$115.8M
$114.6M
Interest Expense
$11.3M
$7.3M
$3.3M
$3.2M
Other non-underwriting expenses
$875.0K
$2.1M
$1.7M
—
Total benefits, losses and expenses
$1.2B
$1.2B
$1.1B
$968.2M
Income (loss) before income taxes
$147.9M
$77.0M
($39.7M)
$12.1M
Income tax expense (benefit)
$29.7M
$15.1M
$10.0M
($3.0M)
Net income (loss)
$118.2M
$62.0M
($29.7M)
$15.0M
Basic (in dollars per share)
$4.64
$2.45
-$1.18
$0.60
Diluted (in dollars per share)
$4.48
$2.39
-$1.18
$0.59
Basic (in shares)
25.5M
25.3M
—
—
Diluted (in shares)
26.4M
25.9M
—
—
UNITED FIRE GROUP INC income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net earned premium
$354.1M
$343.0M
$328.4M
$314.8M
Net investment income
$28.9M
$27.0M
$26.0M
$21.7M
Net investment gains (losses)
($428.0K)
($254.0K)
($405.0K)
($1.0M)
Other income (loss)
$1.1M
($319.0K)
$0
$0
Total revenues
$383.7M
$369.4M
$354.0M
$335.5M
Losses and loss settlement expenses
$212.3M
$208.1M
$188.2M
$193.7M
Amortization of deferred policy acquisition costs
$84.0M
$82.0M
$81.5M
$74.4M
Other underwriting expenses
$41.2M
$37.6M
$32.1M
$35.3M
Interest expense
$3.2M
$3.2M
$3.1M
$2.5M
Other non-underwriting expenses
$1.1M
$514.0K
$407.0K
$335.0K
Total benefits, losses and expenses
$341.8M
$331.4M
$305.3M
$306.3M
Income (loss) before income taxes
$41.9M
$38.0M
$48.7M
$29.2M
Income tax expense (benefit)
$8.6M
$8.0M
$9.5M
$6.3M
Net Income (loss)
$33.4M
$30.1M
$39.2M
$22.9M
Basic (in dollars per share)
$1.30
$1.18
$1.54
$0.90
Diluted (in dollars per share)
$1.29
$1.15
$1.49
$0.87
Basic (in shares)
25.7M
25.6M
25.5M
25.5M
Diluted (in shares)
25.9M
26.1M
26.4M
26.4M
Balance sheet
UNITED FIRE GROUP INC balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Fixed maturities, available-for-sale, at fair value (amortized cost of $2,239,173 and $1,961,531; allowance for credit losses of $0 and $0)
$2.2B
$1.9B
$1.7B
$1.6B
Mortgage loans (less allowance for credit losses of $286 and $45)
$30.8M
$40.9M
$45.4M
$37.9M
Other long-term investments
$228.5M
$183.7M
$99.5M
$86.3M
Short-term investments
$0
$100.0K
$100.0K
$275.0K
Total investments
$2.5B
$2.1B
$1.9B
$1.8B
Cash and cash equivalents
$156.3M
$200.9M
$102.0M
$96.7M
Accrued investment income
$18.2M
$15.8M
$15.9M
$14.5M
Premiums receivable (net of allowance for doubtful accounts of $1,899 and $1,604)
$497.9M
$450.8M
$464.8M
$365.7M
Deferred policy acquisition costs
$158.2M
$147.2M
$126.5M
$104.2M
Property and equipment at cost (less accumulated depreciation of $85,555 and $75,866)
$132.6M
$136.0M
$134.2M
$133.1M
Reinsurance receivables and recoverables (net of allowance for credit losses of $121 and $103)
$238.5M
$230.8M
$223.3M
$171.0M
Prepaid reinsurance premiums
$32.4M
$44.9M
$27.7M
$11.3M
Intangible assets, net
$3.2M
—
—
—
Deferred tax asset, net
$15.4M
$23.0M
$13.6M
$15.5M
Income taxes receivable
$532.0K
$14.2M
$21.5M
$31.4M
Other assets
$122.8M
$127.8M
$123.5M
$88.7M
Total assets
$3.8B
$3.5B
$3.1B
$2.9B
Losses and loss settlement expenses
$1.9B
$1.8B
$1.6B
$1.5B
Unearned premium
$660.2M
$621.4M
$549.4M
$474.4M
Accrued expenses and other liabilities
$168.4M
$171.6M
$172.3M
$120.5M
Long term debt
$146.2M
$117.1M
$50.0M
$50.0M
Total liabilities
$2.9B
$2.7B
$2.4B
$2.1B
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,522,051 and 25,378,291 shares issued and outstanding
25.0K
25.0K
25.0K
25.0K
Additional paid-in capital
$223.9M
$215.9M
$210.0M
$207.0M
Retained earnings
$722.3M
$620.4M
$574.7M
$620.6M
Accumulated other comprehensive income (loss), net of tax
($5.1M)
($54.8M)
($51.0M)
($87.5M)
Total stockholders' equity
$941.2M
$781.5M
$733.7M
$740.1M
Total liabilities and stockholders' equity
$3.8B
$3.5B
$3.1B
$2.9B
UNITED FIRE GROUP INC balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed maturities, available-for-sale, at fair value (amortized cost $2,340,146 and $2,239,173)
$2.3B
$2.2B
$2.0B
$2.0B
Mortgage loans (net of allowance for credit loss of $284 and $286)
$30.5M
$30.7M
$39.3M
$39.5M
Other long-term investments
$220.9M
$239.0M
$215.4M
$206.9M
Total investments
$2.5B
$2.5B
$2.3B
$2.2B
Cash and cash equivalents
$139.4M
$162.0M
$233.7M
$202.1M
Accrued investment income
$18.7M
$16.9M
$15.9M
$16.3M
Premiums receivable (net of allowance for doubtful accounts of $2,508 and $1,899)
$599.7M
$546.4M
$520.8M
$512.7M
Deferred policy acquisition costs
$175.9M
$162.7M
$164.4M
$162.0M
Property and equipment, at cost (less accumulated depreciation of $86,503 and $85,555)
$128.1M
$130.2M
$134.7M
$135.7M
Reinsurance receivables (net of allowance for credit losses of $85 and $121)
$236.2M
$230.0M
$233.1M
$247.8M
Prepaid reinsurance premiums
$34.4M
$30.3M
$32.3M
$39.7M
Intangible assets
$3.0M
$3.0M
$3.4M
$3.6M
Deferred tax asset
$19.7M
$14.1M
$16.6M
$22.5M
Income taxes receivable
$0
$0
$2.7M
$6.0M
Other assets
$124.4M
$125.3M
$125.1M
$112.9M
Total assets
$4.0B
$3.9B
$3.8B
$3.7B
Losses and loss settlement expenses
$2.0B
$2.0B
$1.9B
$1.9B
Unearned premium
$749.5M
$691.5M
$691.4M
$699.7M
Accrued expenses and other liabilities
$149.3M
$150.9M
$135.6M
$138.5M
Income taxes payable
$1.5M
—
—
—
Long term debt
$146.3M
$146.3M
$146.1M
$117.2M
Total liabilities
$3.0B
$3.0B
$2.9B
$2.8B
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,704,420 and 25,522,051 shares issued and outstanding
26.0K
26.0K
25.0K
25.0K
Additional paid-in capital
$227.0M
$224.1M
$221.6M
$218.3M
Retained earnings
$775.4M
$747.3M
$688.0M
$653.0M
Accumulated other comprehensive income (loss), net of tax
($25.0M)
($20.7M)
($11.0M)
($25.7M)
Total stockholders' equity
$977.3M
$950.6M
$898.7M
$845.7M
Total liabilities and stockholders' equity
$4.0B
$3.9B
$3.8B
$3.7B
Cash flow statement
UNITED FIRE GROUP INC cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$118.2M
$62.0M
($29.7M)
$15.0M
Net accretion of bond premium
$1.6M
$4.5M
$7.1M
$9.0M
Depreciation and amortization
$10.8M
$10.9M
$10.5M
$7.7M
Stock-based compensation expense
$9.0M
$5.5M
$3.2M
$2.8M
Net investment (gains) losses
$4.3M
$5.9M
($1.5M)
$15.6M
Net cash flows from trading investments
$0
$56.4M
$116.1M
$29.7M
Deferred income tax benefit
($5.7M)
($8.4M)
($8.3M)
($3.9M)
Accrued investment income
($2.4M)
$139.0K
($1.5M)
($1.1M)
Premiums receivable
($47.1M)
$14.0M
($99.1M)
($49.0M)
Deferred policy acquisition costs
($11.0M)
($20.7M)
($22.3M)
($12.8M)
Reinsurance receivables
($7.7M)
($7.6M)
($52.3M)
($43.1M)
Prepaid reinsurance premiums
$12.5M
($17.2M)
($16.4M)
($2.0M)
Income taxes receivable
$13.6M
$7.3M
$10.0M
$960.0K
Other assets
$5.1M
($2.3M)
($34.4M)
($8.1M)
Losses, claims and loss settlement expenses
$128.0M
$158.0M
$141.5M
($17.0M)
Unearned premium
$38.8M
$72.1M
$75.0M
$34.7M
Accrued expenses and other liabilities
($2.1M)
$1.4M
$71.0M
$13.0M
Other, net
$3.8M
($1.7M)
$2.9M
$7.9M
Net cash provided by (used in) operating activities
$269.7M
$340.3M
$171.7M
($1.3M)
Proceeds from sale of available-for-sale investments
$121.1M
$491.8M
$77.4M
$83.6M
Proceeds from call and maturity of available-for-sale investments
$258.8M
$178.8M
$80.1M
$184.2M
Proceeds from short-term and other investments
$14.6M
$9.4M
$4.6M
$12.6M
Purchase of available-for-sale investments
($660.2M)
($872.9M)
($273.1M)
($284.1M)
Purchase of mortgage loans
$0
$0
($8.1M)
($103.0K)
Purchase of short-term and other investments
($53.7M)
($87.7M)
($19.9M)
($13.3M)
Net purchases and sales of property and equipment
($6.4M)
($11.9M)
($10.9M)
($2.1M)
Net cash provided by (used in) investing activities
($326.0M)
($292.5M)
($149.9M)
($19.2M)
Debt note issuance
$30.0M
$70.0M
—
—
Debt note issuance costs
($1.1M)
($3.0M)
—
—
Payment of cash dividends
($16.3M)
($16.2M)
($16.2M)
($15.9M)
Issuance of common stock
($993.0K)
$348.0K
($290.0K)
$828.0K
Net cash provided by (used in) financing activities
$11.6M
$51.1M
($16.5M)
($15.0M)
Net Change in Cash and Cash Equivalents
($44.6M)
$98.9M
$5.4M
($35.5M)
Cash and Cash Equivalents at Beginning of Year
$200.9M
$102.0M
$96.7M
$132.1M
Cash and Cash Equivalents at End of Year
$156.3M
$200.9M
$102.0M
$96.7M
Income taxes paid (refunded)
$23.6M
—
—
—
Interest paid
$11.3M
$7.2M
$3.3M
$3.2M
UNITED FIRE GROUP INC cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$63.4M
$30.1M
$79.8M
$40.6M
Net accretion of bond premium
$107.0K
$216.0K
$1.1M
$799.0K
Depreciation and amortization
$5.6M
$2.9M
$7.8M
$5.0M
Stock-based compensation expense
$5.3M
$2.6M
$6.0M
$3.7M
Net investment (gains) losses
$1.0M
$478.0K
$2.5M
$1.9M
Deferred income tax expense (benefit)
$1.1M
$5.5M
($5.2M)
($6.4M)
Accrued investment income
($412.0K)
$1.4M
($131.0K)
($523.0K)
Premiums receivable
($101.8M)
($48.5M)
($70.0M)
($61.9M)
Deferred policy acquisition costs
($17.7M)
($4.5M)
($17.2M)
($14.8M)
Reinsurance receivables
$2.3M
$8.5M
($2.3M)
($17.0M)
Prepaid reinsurance premiums
($2.0M)
$2.1M
$12.6M
$5.2M
Other assets
($2.1M)
($2.3M)
$2.6M
$14.4M
Losses and loss settlement expenses
$65.6M
$45.4M
$85.3M
$63.3M
Unearned premium
$89.3M
$31.3M
$70.0M
$78.2M
Accrued expenses and other liabilities
($20.7M)
($19.6M)
($38.2M)
($34.6M)
Income taxes receivable/payable
$2.0M
—
—
—
Other, net
($161.0K)
($828.0K)
$3.8M
$2.8M
Net cash provided by (used in) operating activities
$90.9M
$56.6M
$149.9M
$89.1M
Proceeds from sale of available-for-sale investments
$144.6M
$67.6M
$119.9M
$24.3M
Proceeds from call and maturity of available-for-sale investments
$150.2M
$80.8M
$177.4M
$111.2M
Proceeds from sale of other investments
$12.6M
$154.0K
$7.8M
$6.1M
Purchase of available-for-sale investments
($396.7M)
($181.4M)
($392.5M)
($186.8M)
Purchase of other investments
($5.0M)
($10.3M)
($40.5M)
($29.1M)
Net purchases and sales of property and equipment
($900.0K)
($384.0K)
($5.8M)
($4.2M)
Net cash provided by (used in) investing activities
($95.3M)
($43.4M)
($133.6M)
($78.5M)
Issuance of common stock
($2.2M)
($2.4M)
($233.0K)
($1.2M)
Payment of cash dividends
($10.3M)
($5.1M)
($12.2M)
($8.1M)
Net cash provided by (used in) financing activities