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Assurant, Inc.

AIZ Financial Insurance Property & Casualty

Assurant, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.8 billion, up 7.89% from fiscal 2024.

Revenue
+9.22%
EPS
+6.97%
Free cash flow
+99.0%
Total debt
+0.10%

Quarter to September 2026, against a year earlier

305.93 2.59 −0.84%
Market cap
$15.1B
P/E
14.2×
Fwd P/E
14.0×
Dividend yield
1.15%
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

Revenue by regions Fiscal 2025

  • United States
  • Foreign countries

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 10.96
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 2 — 3 1 — 1 — — —
Insider Ownership 0.70%

Capital & Financial Ratios $m

Size
Market Cap 15,140.00
Revenue ttm 13,754.20
Net income ttm 1,063.50
Free cash flow ttm 1,655.60
Net debt Q (10,055.70)
Valuation
P/E 14.23
Forward P/E 14.00
Price / sales 1.10
Forward P/S Powerpack
Price / FCF 9.11
Price / book 2.52
Financial health
Current ratio Q 0.66
Debt / equity Q 0.37
Interest coverage Q 13.38
Growth
Revenue growth Q +9.22% (above 0%: growing)
Operating income growth Q +5.80% (above 0%: growing)
EPS, this year +18.09% (at or above 15%: strong)
EPS, next year A +1.76%
Revenue, next year A +8.32%
EPS, past 5 yrs +19.35% (at or above 15%: strong)
EPS, next 5 yrs A +8.77%

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 48.15%
10-year low 10-year high
P/S against its own 10 years 99.93%
10-year low 10-year high
P/B against its own 10 years 99.96%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.15%
Annual rate
3.52
Payout ratio
16.5%
Growth, 2017–25
+5.42%/yr
  1. 2.15 ’17
  2. 2.28 ’18 +6
  3. 2.43 ’19 +7
  4. 2.55 ’20 +5
  5. 2.66 ’21 +4
  6. 2.74 ’22 +3
  7. 2.82 ’23 +3
  8. 2.96 ’24 +5
  9. 3.28 ’25 +11
  10. 3.48 ’26e +6
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,627 1,808 1,834 12,264
Receivables 8,915 9,634 8,461 6,328
Inventory — — — —
Other — — — —
10,542 11,441 10,295 18,592
2023 2024 2025 Q'26
Payables 25,810 26,994 26,805 28,293
ST’ Debt — — — —
Other — — — —
26,352 27,553 27,445 28,293

Compound Annual Growth %

10y 5y 3y
Sales 2.18% 5.95% 7.93%
Cash Flow 23.08% 6.44% 45.38%
Earnings 19.84% 15.43% 46.24%
Book Value 2.64% (0.28%) 11.56%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.57 Actual 6.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 5.55 5.61 Beat by 0.06
Q1 FY26 5.40 5.95 Beat by 0.55
Q2 FY26 5.16 6.41 Beat by 1.25
Q3 FY26 4.57 6.15 Beat by 1.58
Q4 FY26 5.32 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 5.41 5.95 5.54 — —
’25 2.83 4.56 5.17 4.41 16.93
’24 4.47 3.58 2.55 3.87 14.46
’23 2.12 2.90 3.54 3.42 11.95
’22 2.59 0.95 0.14 1.27 5.05
’21 2.64 3.32 14.83 2.14 22.83
’20 2.43 2.81 (0.58) 2.23 6.99
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,420 3,454 3,530 — —
’25 3,074 3,158 3,232 3,350 12,814
’24 2,880 2,925 2,968 3,105 11,878
’23 2,643 2,732 2,774 2,983 11,132
’22 2,483 2,510 2,548 2,653 10,193
’21 2,433 2,542 2,638 2,575 10,188
’20 2,449 2,352 2,377 2,420 9,598
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 240 454 — — —
’25 392 266 505 671 1,834
’24 83 711 437 103 1,333
’23 260 185 331 363 1,138
’22 (501) 173 648 277 597
’21 (419) 948 (2) 255 782
’20 (124) 416 609 440 1,342
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 193 409 — — —
’25 339 206 442 612 1,598
’24 32 656 389 35 1,111
’23 211 136 280 308 936
’22 (542) 127 601 225 411
’21 (458) 902 (48) 199 594
’20 (144) 390 575 400 1,221
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 45.4% a year for ten years. It grew 9.2% a year over the last ten.

Implied
45.4%
10 years, reported
9.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.4
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 7,532 6,415 8,058 9,569 9,598 10,188 10,193 11,132 11,878 12,814 13,754 +6.1% 13,880 14,620 15,745 +7.1%
Gross margin, % 75.99 70.84 70.93 75.07 76.29 78.39 76.85 77.35 76.71 77.15 78.07 +1.2 pt
EBT 849 445 334 455 578 771 350 807 927 1,087 1,346 +2.8%
EBT margin, % 11.27 6.93 4.14 4.75 6.02 7.57 3.43 7.25 7.81 8.49 9.79 (2.8) pt
Net income 565 520 251 383 441 1,362 277 643 760 873 1,064 +4.9%
Per share, $
Per share, $ Revenue 122.95 116.66 136.02 154.48 159.65 172.26 187.47 210.55 229.72 253.90 279.08 +8.4%
Earnings 9.23 9.45 4.00 5.87 7.04 23.13 5.09 12.02 14.55 17.14 21.49 +7.1%
Cash flow 1.77 9.65 11.09 22.82 22.32 13.22 10.98 21.53 25.78 36.34 0.00 +39.9%
Capex (1.39) (0.65) (1.40) (1.78) (2.02) (3.17) (3.43) (3.83) (4.28) (4.67) 0.00 +14.4%
Free cash flow 0.38 8.99 9.69 21.04 20.31 10.05 7.55 17.70 21.50 31.67 0.00 +63.4%
Book value 66.90 77.86 86.66 91.73 99.06 92.39 77.77 90.97 98.77 116.34 121.58 +6.3%
Shares, m 61 55 59 62 60 59 54 53 52 50 50 (2.1%)
Valuation, ×
Valuation, × P/E 10.41 10.47 21.50 22.37 19.35 6.75 25.57 14.13 14.66 14.05 14.23 15.9
P/S 0.77 0.85 0.66 0.85 0.85 0.90 0.68 0.81 0.93 0.95 1.10 0.8
P/B 1.41 1.27 1.03 1.43 1.38 1.69 1.64 1.87 2.16 2.07 2.52 1.6
EV/Sales 0.77 0.86 0.75 0.86 0.86 0.92 0.74 0.85 0.95 0.98 — 0.9
EV/FCF 247.90 11.18 10.54 6.34 6.74 15.78 18.30 10.08 10.17 7.84 — 34.5
Cash, $m
Cash, $m Operating cash flow 109 530 657 1,413 1,342 782 597 1,138 1,333 1,834 1,871 +36.9%
Capex (85) (36) (83) (110) (121) (187) (186) (202) (221) (235) (215) +12.0%
Free cash flow 23 495 574 1,303 1,221 594 411 936 1,111 1,598 1,656 +59.9%
Balance, $m
Balance, $m Working capital (11,175) (11,751) (18,549) (19,603) (13,599) (14,660) (15,450) (15,810) (16,112) (17,150) (9,701) +4.9%
Net debt 35 71 752 140 45 162 593 453 275 373 (10,056) +30.1%
Shareholders’ equity 4,098 4,282 5,134 5,682 5,955 5,464 4,229 4,810 5,107 5,872 5,992 +4.1%
Returns, %
Returns, % ROA 1.89 1.69 0.65 0.85 0.95 3.45 0.83 1.90 2.19 2.43 2.95 +0.5 pt
ROIC 12.83 6.38 3.54 6.63 6.02 8.57 4.54 9.58 10.77 10.88 0.00 (2.0) pt
ROE 13.12 12.40 5.03 6.73 7.26 23.78 5.71 14.06 15.18 15.76 18.12 +2.6 pt
People
People Employees 14,700 14,750 14,750 14,200 14,100 15,600 13,700 13,600 14,200 14,800 — +0.1%
Revenue/emp, $m 0.51 0.43 0.55 0.67 0.68 0.65 0.74 0.82 0.84 0.87 — +6.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Assurant is a protection and services company that works with other businesses to reach consumers. Founded in 1977 and headquartered on Liberty Street, it is led by President and Chief Executive Officer Keith W. Demmings. Its operations span North America, Latin America, Europe and Asia Pacific.

Its Global Lifestyle segment covers devices, appliances and vehicles. Through mobile carriers, retailers and other partners, Assurant provides insurance and service contracts that can pay for repair or replacement after a covered loss, theft, accidental damage or breakdown. It also manages claims, repairs, trade-ins and the resale or reuse of refurbished devices. In automotive, it provides vehicle service contracts and other protection for cars, trucks and commercial equipment.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
United States 10,549 82.32%
Foreign countries 2,265 17.68%
Gross margin 77.15%
Operating margin 8.49%
Pre-tax margin 8.49%

Revenue by segment since 2009

Assurant, Inc. vs peers in Insurance Property & Casualty (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
WRB W.R. Berkley Corporation $28.6B 16.2× 15.1× −0.78% (below 0%: shrinking) −10.85% (below 0%: shrinking) −31.31% (below 0%: shrinking) 46.55% 16.21% Compare
MKL Markel Group Inc. $23.9B 13.8× 12.3× −11.22% (below 0%: shrinking) −69.36% (below 0%: shrinking) −27.15% (below 0%: shrinking) 46.51% 9.88% Compare
L Loews Corporation $22.5B 15.2× 16.0× +1.88% (above 0%: growing) −35.20% (below 0%: shrinking) −9.55% (below 0%: shrinking) 50.68% 10.65% Compare
AIZ Assurant, Inc. $15.1B 14.2× 14.0× +9.22% (above 0%: growing) +6.97% (above 0%: growing) +99.03% (above 0%: growing) 77.83% 10.73%
CNA CNA Financial Corporation $13.0B 12.6× 11.8× +0.10% (above 0%: growing) −51.11% (below 0%: shrinking) −9.94% (below 0%: shrinking) 38.58% 7.04% Compare
AFG American Financial Group, Inc. $13.0B 12.7× 12.4× +10.81% (above 0%: growing) +31.78% (above 0%: growing) +134.10% (above 0%: growing) 20.98% 14.79% Compare
ORI Old Republic International Corporation $9.7B 8.8× 8.9× +5.21% (above 0%: growing) −11.55% (below 0%: shrinking) −23.85% (below 0%: shrinking) 11.68% 11.68% Compare
KNSL Kinsale Capital Group, Inc. $8.9B 17.2× 16.2× −8.58% (below 0%: shrinking) −28.76% (below 0%: shrinking) −9.58% (below 0%: shrinking) 27.99% 27.89% Compare
THG The Hanover Insurance Group, Inc. $8.6B 11.7× 11.6× +4.23% (above 0%: growing) +1.22% (above 0%: growing) −6.06% (below 0%: shrinking) 42.97% 13.27% Compare
Median of peers $13.0B 13.3× 12.4× +0.99% −20.15% −9.76% 40.78% 12.48%

All 46 Insurance Property & Casualty stocks →

From the latest earnings call

Updated

  • CEO Keith Demmings said Assurant protects over 69 million devices globally and has expanded its lender-placed loan tracking through the Freedom Mortgage partnership.
  • CFO Keith Meier said Assurant raised its 2026 growth outlook and expects Global Lifestyle to lead growth across the company.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 98.36%
Held by the ten largest 57.01%
Holder Shares Stake Change
Vanguard 6.53m 13.23% −181.78k
BlackRock 5.01m 10.14% +1.06m
BNY 4.73m 9.57% −89.02k
T. Rowe Price 3.57m 7.23% −847.71k
State Street 2.54m 5.15% +10.48k
Geode Capital Management 1.42m 2.87% +10.42k
Invesco 1.23m 2.48% +282.00
Dimensional Fund Advisors 1.20m 2.43% +73.90k
Bank of America 1.00m 2.03% +642.91k
MFS Investment Management 920.40k 1.86% −2.02k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.22m 24.20m 192.81
2024 13.78m 25.04m 168.11
2023 10.33m 22.37m 130.78
2022 8.37m 4.35m 95.10
2021 11.50m 13.73m 116.46

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group, Inc.1 13.70%
The Bank of New York Mellon Corporation2 10.20%
T. Rowe Price Investment Management, Inc.3 7.30%
BlackRock, Inc.4 6.40%
State Street Corporation5 6.10%
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. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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AIZ metrics, ten years each

stockrow.com/AIZ · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com