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American International Group, Inc.

AIG Financial Insurance Diversified

American International Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $26.8 billion, down 1.75% from fiscal 2024.

Revenue
+17.2%
EPS
+71.3%
Free cash flow
+100.4%
Total debt
+14.9%

Quarter to September 2026, against a year earlier

78.83 2.10 −2.59%
Market cap
$42.3B
P/E
13.1×
Fwd P/E
11.5×
Dividend yield
2.35%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

American International Group, Inc. (AIG) valuation and DCF model

What the price implies · reverse DCF

At $78.83 the price implies 15.7% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 8.3% a year over the last ten years, 6.2% over the last five. The price asks for about twice its ten-year rate. Return on equity averaged 3.3% over ten years; the price implies 9.4% for good.

In December 2020 the price assumed 3.6% a year; American International Group, Inc. went on to grow the dividend a share 26.1% a year to FY2025.

Price implies
15.7%
Last 5 years, reported
6.2%
Last 10 years, reported
8.3%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
15.7% a year for ten years
$78.83
today’s price
Its base case
8.3% a year for five years, then 5.0%
$40.55
48.6% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record American International Group, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 15.7% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against American International Group, Inc.’s own cost of capital: risk-free 4.3% + beta 0.47 × equity premium 4.5% = 6.4% cost of equity; after-tax cost of debt 3.1%; weighted, 5.8%.

Use 5.8%
Base case value per share $40.55 ten years discounted, and what follows
Current price $78.83 market price per share
Below today’s price 48.6% downside at the base case’s assumptions

How we got there$17.11 10 years of dividends+$23.44 terminal value=$40.55 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Diversified).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 13.07× 10.48× 10.99× 19% above 11.57× 13% above
P/FCF 8.13× 11.40× 14.60× 44% below 6.58× 24% above
P/B 1.09× 1.10× 0.88× 23% above 1.64× 34% below
EV/EBITDA — 8.35× 10.19× — 3.38× —
EV/Sales — 2.34× 1.98× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
1.56×2.07×2.58×3.09×10Y avg 1.98×2016201720182019202020212022202320242025

EV/Sales has no reading today; its 10-year average is 1.98×.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.