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Assured Guaranty Ltd.

AGO Financial Insurance Specialty

Assured Guaranty Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 27.3% from fiscal 2024.

Revenue
−30.6%
EPS
−57.9%
Free cash flow
−48.7%
Total debt
+0.29%

Quarter to June 2026, against a year earlier

71.76 0.75 −1.03%
Market cap
$3.2B
P/E
9.6×
Fwd P/E
11.1×
Dividend yield
2.06%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 18.11
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 4 — 2 — — — — — —
Insider Ownership 6.93%

Capital & Financial Ratios $m

Size
Market Cap 3,160.00
Revenue ttm 940.00
Net income ttm 543.00
Free cash flow ttm 324.00
Net debt Q 1,396.00
Valuation
P/E 9.57
Forward P/E 11.10
Price / sales 3.38
Forward P/S Powerpack
Price / FCF 9.81
Price / book 0.57
Financial health
Current ratio Q 0.42
Debt / equity Q 0.31
Interest coverage Q 3.73
Growth
Revenue growth Q −30.60% (below 0%: shrinking)
Operating income growth Q −46.41% (below 0%: shrinking)
EPS, this year −23.67% (below 0%: weak)
EPS, next year A −1.27% (below 0%: weak)
Revenue, next year A −20.39% (below 0%: weak)
EPS, past 5 yrs +19.62% (at or above 15%: strong)
EPS, next 5 yrs A −3.38% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 59.77%
10-year low 10-year high
P/S against its own 10 years 44.22%
10-year low 10-year high
P/B against its own 10 years 18.78%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.06%
Annual rate
1.48
Payout ratio
19.7%
Growth, 2017–25
+11.5%/yr
  1. 0.57 ’17
  2. 0.64 ’18 +12
  3. 0.72 ’19 +13
  4. 0.80 ’20 +11
  5. 0.88 ’21 +10
  6. 1.00 ’22 +14
  7. 1.12 ’23 +12
  8. 1.24 ’24 +11
  9. 1.36 ’25 +10
  10. 1.52 ’26e +12
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 97 121 388 310
Receivables 1,468 1,551 1,572 1,523
Inventory — — — —
Other — — — —
1,565 1,672 1,960 1,833
2023 2024 2025 Q'26
Payables 3,658 3,719 3,625 3,856
ST’ Debt — — — —
Other — — — 484
3,658 3,719 3,625 4,340

Compound Annual Growth %

10y 5y 3y
Sales (6.64%) (0.09%) 15.36%
Cash Flow 0.00% 0.00% 0.00%
Earnings (7.15%) 6.80% 59.48%
Book Value (0.46%) (2.83%) 3.04%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.66 Actual 1.23

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.46 2.57 Beat by 1.11
Q4 FY25 1.54 2.32 Beat by 0.78
Q1 FY26 1.50 2.50 Beat by 1.00
Q2 FY26 1.66 1.23 Miss by 0.43
Q3 FY26 1.71 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.91 0.88 — — —
’25 3.44 2.09 2.18 2.53 10.26
’24 1.89 1.41 3.17 0.35 6.87
’23 1.34 2.06 2.60 6.40 12.30
’22 0.98 (0.74) 0.18 1.52 1.92
’21 0.14 1.29 0.22 3.74 5.23
’20 (0.59) 2.10 1.02 1.82 4.19
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 261 195 — — —
’25 345 281 207 277 1,110
’24 245 202 269 156 872
’23 283 360 403 327 1,373
’22 300 90 41 292 723
’21 177 196 212 263 848
’20 96 372 268 379 1,115
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 190 40 — — —
’25 87 78 55 39 259
’24 (74) 58 17 46 47
’23 312 124 (178) 203 461
’22 (892) (902) (54) (631) (2,479)
’21 (466) (483) (843) (145) (1,937)
’20 (164) (281) (219) (189) (853)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 190 40 — — —
’25 87 78 55 39 259
’24 (74) 58 17 46 47
’23 312 124 (178) 203 461
’22 (892) (902) (54) (631) (2,479)
’21 (466) (483) (843) (145) (1,937)
’20 (164) (281) (219) (189) (853)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,677 1,739 1,001 963 1,115 848 723 1,373 872 1,110 940 (4.5%) 884 844 941 (5.4%)
Gross margin, % 82.41 77.69 93.61 90.34 81.79 125.94 97.79 88.20 102.98 94.95 99.04 +12.5 pt
EBT 1,017 991 580 464 413 477 148 668 488 662 414 (4.7%)
EBT margin, % 60.64 56.99 57.94 48.18 37.04 56.25 20.47 48.65 55.96 59.64 44.04 (1.0) pt
Net income 881 730 521 401 368 419 137 761 392 543 543 (5.2%)
Per share, $
Per share, $ Revenue 12.61 14.42 9.10 9.70 13.04 11.54 11.49 23.51 16.36 23.08 21.22 +6.9%
Earnings 6.56 5.96 4.68 4.00 4.19 5.23 1.92 12.30 6.87 10.26 7.50 +5.1%
Cash flow (0.99) 3.59 4.20 (5.13) (9.98) (26.35) (39.41) 7.89 0.88 5.38 7.31 n/m
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow (0.99) 3.59 4.20 (5.13) (9.98) (26.35) (39.41) 7.89 0.88 5.38 7.31 n/m
Book value 48.90 56.71 59.59 66.92 78.18 88.14 84.13 98.72 104.18 120.35 126.00 +10.5%
Shares, m 133 121 110 99 86 74 63 58 53 48 46 (10.7%)
Valuation, ×
Valuation, × P/E 5.89 5.78 8.23 12.16 7.24 9.28 31.59 6.02 13.20 8.78 9.57 10.8
P/S 3.09 2.36 4.21 5.05 2.41 4.35 5.33 3.18 5.50 3.89 3.38 3.9
P/B 0.80 0.60 0.64 0.73 0.40 0.57 0.73 0.76 0.86 0.75 0.57 0.7
EV/Sales 3.80 3.02 5.33 6.16 3.37 6.18 7.50 4.34 7.31 5.08 — 5.2
EV/FCF (48.25) 12.13 11.56 (11.66) (4.40) (2.71) (2.19) 12.92 135.65 21.77 — 12.5
Cash, $m
Cash, $m Operating cash flow (132) 433 462 (509) (853) (1,937) (2,479) 461 47 259 324 n/m
Capex — — — — — — — — — — — —
Free cash flow (132) 433 462 (509) (853) (1,937) (2,479) 461 47 259 324 n/m
Balance, $m
Balance, $m Working capital (2,789) (2,416) (2,504) (2,281) (2,201) (2,224) (2,511) (2,093) (2,047) (1,665) (2,507) (5.6%)
Net debt 1,188 1,148 1,129 1,066 1,062 1,553 1,568 1,597 1,578 1,316 1,396 +1.1%
Shareholders’ equity 6,504 6,839 6,555 6,645 6,684 6,478 5,292 5,765 5,553 5,789 5,582 (1.3%)
Returns, %
Returns, % ROA 6.14 5.11 3.72 2.88 2.44 2.32 0.71 5.03 3.08 4.18 2.84 (2.0) pt
ROIC 9.09 8.51 5.47 4.45 3.80 5.02 2.44 6.20 4.53 5.71 3.91 (3.4) pt
ROE 14.02 10.94 7.78 6.09 5.43 5.91 2.11 13.37 6.64 8.87 6.21 (5.1) pt
People
People Employees 300 310 312 441 412 407 411 350 361 367 — +2.3%
Revenue/emp, $m 5.59 5.61 3.21 2.18 2.71 2.08 1.76 3.92 2.42 3.02 — (6.6%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Assured Guaranty Ltd. vs peers in Insurance Specialty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FNF Fidelity National Financial, Inc. $11.5B 15.2× 9.3× +11.44% (above 0%: growing) +9.80% (above 0%: growing) −1.24% (below 0%: shrinking) 53.15% 9.85% Compare
AXS Axis Capital Holdings Limited $7.7B 8.0× 8.2× +6.91% (above 0%: growing) −24.09% (below 0%: shrinking) +31.71% (above 0%: growing) 24.75% 14.68% Compare
FAF First American Financial Corporation $7.0B 9.5× 9.6× +5.34% (above 0%: growing) −6.52% (below 0%: shrinking) −12.25% (below 0%: shrinking) 100.00% 14.30% Compare
ACT Enact Holdings, Inc. $6.6B 9.9× 9.8× +0.45% (above 0%: growing) +4.50% (above 0%: growing) −4.21% (below 0%: shrinking) 0.00% 0.00% Compare
ESNT Essent Group Ltd. $6.2B 9.5× 8.8× +13.64% (above 0%: growing) +7.18% (above 0%: growing) +3.88% (above 0%: growing) 65.75% 65.75% Compare
MTG MGIC Investment Corporation $6.0B 9.1× 8.7× −1.78% (below 0%: shrinking) +2.41% (above 0%: growing) +0.56% (above 0%: growing) 77.43% 76.97% Compare
RDN Radian Group Inc. $4.9B 9.5× 8.8× +92.58% (above 0%: growing) −17.48% (below 0%: shrinking) +147.96% (above 0%: growing) 50.35% 30.09% Compare
NMIH NMI Holdings Inc $3.3B 8.5× 8.0× +8.12% (above 0%: growing) +13.82% (above 0%: growing) +10.69% (above 0%: growing) 93.00% 76.67% Compare
AGO Assured Guaranty Ltd. $3.2B 9.6× 11.1× −30.60% (below 0%: shrinking) −57.89% (below 0%: shrinking) −48.72% (below 0%: shrinking) 97.95% 42.05%
Median of peers $6.4B 9.5× 8.8× +7.52% +3.46% +2.22% 59.45% 22.39%

All 15 Insurance Specialty stocks →

Pay and ownership Proxy statement filed 18 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 13.84m 14.47m 311.00
2024 14.93m 25.67m 306.00
2023 13.48m 26.81m 251.00
2022 13.61m 28.89m 205.00
2021 14.54m 23.82m 162.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Assured Guaranty Ltd. (AGO) Latest News

5 Nov

Impact 3 · · Business Wire

22 Oct

Impact 3 · · Business Wire

21 Oct

Impact 4 · · StockStory

29 Sep

Impact 4 · · Simply Wall St.

25 Sep

Impact 4 ·
Impact 3 · · Associated Press
Impact 3 · · PR Newswire

17 Aug

Impact 4 ·

14 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

10 Aug

Impact 3 ·

7 Aug

Impact 4 · transcript
Impact 3 · · MarketBeat
Impact 3 · · Moby transcript

6 Aug

Impact 3 ·

6 Jun

Impact 3 · · Simply Wall St.

9 May

Impact 4 · · MarketBeat
Impact 4 · · GuruFocus.com

7 May

Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 4 · · Business Wire

23 Apr

Impact 4 · · StockStory

5 Mar

Impact 3 ·

3 Mar

Impact 4 · · GuruFocus.com

27 Feb

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

26 Feb

Impact 4 · · Zacks
Impact 4 · · Associated Press FinanceStockStorySimply Wall St.
Impact 4 · · StockStoryAssociated Press Finance

AGO metrics, ten years each

stockrow.com/AGO · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com