State Farm Revenue & Demographics Statistics

Top 5 Key State Farm Statistics

  1. State Farm generated $87.6 billion revenue in 2021.
  2. In 2021, State Farm disclosed a net income of $1.3 billion.
  3. In the fourth quarter of the year 2021, State Farm had $143.2 billion in total net worth.
  4. State Farm has a total of 57,672 employees.
  5. Women make up over half of State Farm's employees, counting for 62% of their workforce. 38% of State Farm's workforce are men.
  6. The majority of State Farm's employee demographics are white, at 58%. Hispanics are the second highest, accounting for 18% of the population. Black and African Americans account for 13% of the company's people.
  7. On average, most employees with State Farm earn a salary of about $40,016 annually.
  8. When it comes to political affiliation, over 50% of State Farm employees are Republican.
2021 Revenue $87.6 billion
2021 Net Income $1.3 billion
Number Of Employees 57,672
Average Employee Salary $40,016
Employee Political Affiliation Over 50% Are Republican

State Farm Revenue

State Farm generated $87.6 billion revenue in 2021.

State Farm Revenue

From studies and research being conducted, here are additional financial statistics relevant to this total.

As State Farm has a total employee population of 57,672 people, the revenue for each employee per ratio adds up to $1,518,934.

The company's peak revenue, $87.6 billion, for State Farm was met in the year 2021.

State Farm Net Income

In 2021, State Farm disclosed a net income of $1.3 billion. This is smaller than the net income reported in 2020, which was $3.7 billion.

State Farm Net Income

State Farm Valuation

In the fourth quarter of the year 2021, State Farm had $143.2 billion in total net worth.

State Farm Valuation

In 2020, this was $126.1 billion. This alteration is due to a rise in the valuation of the company's portfolio of stocks, which in itself is heavily manipulated by equities within the United State.

State Farm Assets

Near the tail end of 2021, State Farm's total assets were $15.3 billion. This occurred under the authority of the Investment Planning Services.

State Farm Assets

State Farm Market Cap

State Farm's Vice President Corporation disclosed a total net loss of $38 million in the year 2021. In 2020, some figures show combined assets to be $13.9 billion, with $41 million as a net loss.

State Farm Number Of Employees

The number of employees at State Farm has remained steady over the years with a current count of 57,672 workers. As for agents, they number about 19,400.

State Farm Number Of Employees

State Farm Employee Statistics

Most employees with State Farm remain with the company for about 4.1 years.

The Democratic party has less population than the Republican party among State Farm's workers. Democrats make up less than 50% of the employee population.

State Farm has kept an employee count between 50,000 and 60,000 people over the last five years.

White Americans are the majority demographic with State Farm, making up over 50% of the worker population. Black Americans are about 13% of State Farms' population, and Latino or Hispanic employees account for 18%.

More women work for State Farm than men. Women make up 62% of the company, with men making up 37% of the workforce.

The total minority count of State Farm's employees is 42%. This includes nonwhite populations such as African American, Latino and Hispanic, Asian, and South Pacific, among other ethnicities.

The number of State Farm's executives that are of minority ethnicity is 36%.

Women also make up a considerable fraction of State Farm's executive, amounting to 43%.

Although English is the dominant language for State Farm's employees, Spanish is the most common foreign language among staff, spoken by 78.7% of workers. 

The second most spoken foreign language is Fresh, with 2.9% of employees speaking it fluently. Portuguese is third, with 2% of workers understanding the language.

Frequently Asked Questions

How many customers does State Farm have?

State Farm has 87 million current account holders and open policies in place. The number certainly fluctuates from quarter to quarter but has remained steady, on average.

Who is State Farm owned by?

State Farm's current CEO is Michael L. Tipsord. Before this, he was elected as chairman of the board in the second quarter of 2016. However, his career with State Farm began in the year 1988, when he worked in numerous roles of leadership as vice chairman, chief operating officer, and a leading financial officer.

Michael was elected as CEO of State Farm in late 2015, becoming president of the company earlier in that year. He was born in Illinois and holds a bachelor's from Wesleyan University, along with a degree in law from the University of Illinois.

Is State Farm losing money?

Direct written premiums increased with State Farm by 7.1% in the years over to $11.2 billion. Along with six other companies, State Farm saw increases in the year-over-year loss ratio. This occurred during the first half of the year 2022.

Is State Farm publicly traded?

No, State Farm isn't publicly traded. It's a private company since people make up the sole proprietor, who buys insurance policies through the business. it has no shares or shareholders and doesn't participate in weekly trading.

How much money does State Farm make?

State Farm earns about $87.6 billion in revenue each year, which determines the amount of money made by the company since 2021. This amount includes the earnings of all workers and executives.

Recently, State Farm reported an earned premium of around $66.9 billion, with a total loss of about $4.7 billion and paying $401 million in dividends. The dividends are paid to the company's Mutual Automobile Insurance Company holders.

In 2020, this showed a gain of $1.9 billion in premium that was earned from $65.1 billion, including another $1.9 billion in dividends from the same policyholders.

How is State Farm doing financially?

As State Farm is an insurance company, its financial standing is best determined by its growth in its home, automobile, and life insurance policies. It has seen big increases in all of these areas, though showing a year-over-year drop in premiums that are automatically earned by them.

The lowering of auto premiums no doubt shows a concentration on providing value to customers. It's done through the reduction of premium costs whenever they're beneficial for both the company and its customer base.

State Farm paid approximately $600 million to its policyholders in the form of dividends, showing $116 billion in policy volumes in 2021. As such, this brings the late quarter numbers on individual policies to $1.1 billion.

Will Geico overtake State Farm?

Geico is forecasted to overtake State Farm in insurance numbers in the year 2023. Still, State Farm and Geico will both remain primary competitors

How much does the CEO of State Farm make?

State Farm's CEO is Michael Tipsord, who earned over $24 million in 2021. This is one of the largest salaries of any CEO in the United States.


  1. StateFarm Earnings Report
  2. State Farm Demographics
  3. Wikipedia's Guide On State Farm

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