Assurant, Inc.

AIZ · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000
Valuation
Market cap	$12,062	$10,935	$8,861	$6,607	$8,880	$7,761	$7,469	$5,096	$5,746	$5,291	$4,589	$4,939	$5,087	$2,924	$3,967	$4,262	$3,480	$3,533	$8,010	$7,008	$5,905	$4,227	–	$2,698	$2,691	$2,591
Enterprise value	$9,717	$3,754	$7,208	$761	$1,579	$7,810	$7,235	$5,497	$5,828	$5,326	$4,472	$4,792	$5,008	$2,987	$3,773	$4,083	$2,680	$2,761	$8,329	$6,700	$5,068	$4,651	–	–	–	–
P/E (TTM) at period end	13.94×	14.53×	13.94×	23.89×	6.54×	18.39×	20.52×	21.52×	11.06×	9.36×	32.41×	10.49×	10.41×	6.05×	7.36×	15.30×	8.08×	7.89×	12.25×	9.77×	12.32×	12.06×	–	–	27.44×	28.89×
P/S (TTM) at period end	0.94×	0.92×	0.80×	0.65×	0.87×	0.81×	0.78×	0.63×	0.90×	0.70×	0.44×	0.48×	0.56×	0.34×	0.48×	0.50×	0.40×	0.41×	0.95×	0.87×	0.79×	0.57×	–	0.41×	0.43×	0.42×
P/B at period end	2.05×	2.14×	1.84×	1.56×	1.63×	1.30×	1.32×	1.00×	1.35×	1.29×	1.01×	0.95×	1.05×	0.56×	0.81×	0.92×	0.74×	0.95×	1.96×	1.83×	1.60×	1.16×	–	1.06×	0.78×	0.77×
EV / EBITDA (TTM)	6.71×	2.98×	6.49×	1.19×	1.47×	9.47×	10.02×	9.80×	9.56×	5.20×	11.37×	5.13×	5.05×	3.17×	4.21×	5.14×	3.25×	4.22×	7.54×	5.64×	6.86×	8.63×	–	–	–	–
EV / Sales (TTM)	0.76×	0.32×	0.65×	0.07×	0.15×	0.81×	0.76×	0.68×	0.91×	0.71×	0.43×	0.46×	0.55×	0.35×	0.46×	0.48×	0.31×	0.32×	0.99×	0.83×	0.68×	0.63×	–	–	–	–
Returns
Return on equity	14.7%	14.7%	13.2%	6.5%	24.8%	7.1%	6.4%	4.6%	12.2%	13.8%	3.1%	9.1%	10.1%	9.3%	11.1%	6.0%	9.1%	12.1%	16.0%	18.7%	13.0%	9.6%	7.1%	(39.2%)	2.8%	2.7%
Return on invested capital	15.4%	15.8%	13.8%	7.5%	12.6%	10.2%	6.9%	5.6%	11.3%	14.5%	4.1%	10.1%	11.3%	9.9%	12.5%	6.7%	9.6%	12.3%	13.6%	18.8%	12.5%	8.0%	5.1%	10.2%	125.3%	49.6%
Dividend yield	1.4%	1.4%	1.7%	2.3%	1.8%	2.0%	2.0%	2.6%	2.1%	2.4%	2.1%	1.6%	1.5%	2.4%	1.7%	1.6%	2.0%	1.8%	0.7%	0.7%	0.7%	0.7%	–	1.6%	–	–
Financial health
Current ratio	–	–	–	–	–	0.18×	0.27×	0.24×	0.44×	0.44×	0.49×	0.48×	0.53×	0.43×	0.48×	0.54×	–	–	–	–	–	–	–	–	–	–
Debt / equity	0.38×	0.41×	0.43×	–	0.40×	0.38×	0.36×	0.39×	0.25×	0.26×	0.26×	–	–	–	–	–	0.21×	0.26×	0.24×	0.25×	0.26×	0.27×	0.66×	–	–	–
Effective tax rate	19.7%	18.0%	20.4%	20.9%	21.8%	10.2%	32.6%	24.3%	(16.9%)	33.4%	29.6%	36.7%	38.1%	36.2%	23.7%	54.1%	39.3%	20.5%	35.3%	34.7%	26.9%	34.6%	28.4%	29.9%	–	53.8%
Share count
Diluted shares outstanding	51	52	53	55	60	63	62	60	55	62	69	73	78	85	98	111	118	119	122	129	137	138	109	109	109	105

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000
Revenue and gross profit
Revenue	$13,456	$12,814	$11,878	$11,132	$10,193	$10,188	$9,598	$9,569	$8,058	$6,415	$7,532	$10,326	$10,382	$9,048	$8,508	$8,273	$8,528	$8,701	$8,601	$8,454	$8,071	$7,498	$7,411	$7,076	$6,532	$6,187	$6,212
Cost of revenue	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($4,019)	($5,142)	($4,721)	($4,633)	($4,660)	($4,492)	($4,167)	–	($486)
Gross profit	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$4,582	$3,311	$3,350	$2,865	$2,750	$2,584	$2,365	–	$5,726
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($9,071)	($8,688)	($8,077)	($7,695)	($7,366)	($3,246)	($3,048)	($3,186)	($2,980)	($2,710)	($3,443)	($3,924)	($3,688)	($3,034)	($2,632)	($2,429)	($2,517)	($2,377)	($2,286)	($2,239)	($2,190)	($2,146)	($2,156)	($2,005)	($1,876)	($1,847)	($2,082)
Total operating expenses	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($4,019)	($2,300)	($2,254)	($2,210)	($2,215)	($2,324)	($1,995)	–	($2,107)
Total costs and expenses	($12,016)	($11,617)	($10,843)	($10,217)	($9,735)	($9,284)	($8,915)	($8,972)	($7,624)	($5,921)	($6,632)	($10,069)	($9,579)	($8,180)	($7,690)	($7,506)	($7,861)	($7,991)	($8,038)	($7,442)	($6,975)	($6,842)	($6,875)	($6,817)	($6,162)	($1,861)	($2,593)
Operating income	$1,440	$1,197	$1,034	$915	$458	$904	$683	$597	$434	$494	$900	$256	$803	$867	$818	$766	$667	$710	$563	$1,011	$1,096	$656	$536	$259	$370	$4,326	$3,619
Earnings
EBITDA	$1,708	$1,447	$1,258	$1,111	$640	$1,075	$825	$722	$561	$610	$1,025	$393	$935	$992	$942	$896	$794	$823	$655	$1,105	$1,189	$739	$539	$307	$417	–	–
Interest income	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($113)	($110)	($107)	($108)	($108)	($112)	($104)	($111)	($100)	($50)	($58)	($55)	($58)	($78)	($60)	($60)	($61)	($61)	($61)	($61)	($61)	($61)	($56)	($1)	–	($14)	($25)
Pre-tax income	$1,327	$1,087	$927	$807	$350	$771	$578	$455	$334	$444	$849	$201	$744	$790	$758	$706	$607	$710	$563	$1,011	$1,096	$656	$536	$259	$370	$4,326	$194
Income tax expense	($264)	($215)	($167)	($164)	($73)	($168)	($59)	($148)	($81)	$75	($283)	($60)	($273)	($301)	($274)	($167)	($328)	($279)	($115)	($357)	($380)	($176)	($185)	($74)	($111)	–	($104)
Net income	$1,064	$873	$760	$642	$277	$1,362	$441	$383	$251	$520	$565	$142	$471	$489	$484	$539	$279	$431	$448	$654	$717	$479	$351	$186	($1,001)	$98	$90
Per share
Diluted EPS (GAAP)	$20.82	$16.93	$14.46	$11.95	$5.05	$22.66	$6.98	$5.84	$3.98	$9.39	$9.13	$2.05	$6.44	$6.30	$5.67	$5.51	$2.50	$3.63	$3.76	$5.38	$5.57	$3.50	$2.53	$1.70	($9.17)	$0.90	$0.85
Basic EPS (GAAP)	$21.06	$17.14	$14.55	$12.02	$5.09	$22.95	$7.02	$5.87	$4.00	$9.45	$9.23	$2.08	$6.52	$6.38	$5.74	$5.58	$2.52	$3.65	$3.79	$5.45	$5.66	$3.53	$2.53	$1.70	($9.17)	$0.90	$0.85
Basic shares outstanding	50	50	52	53	54	59	60	62	59	55	61	68	72	77	84	97	111	118	118	120	127	136	138	109	109	109	105
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	53.3%	39.2%	41.5%	38.2%	37.1%	36.5%	36.2%	–	92.2%
Operating margin	10.7%	9.3%	8.7%	8.2%	4.5%	8.9%	7.1%	6.2%	5.4%	7.7%	11.9%	2.5%	7.7%	9.6%	9.6%	9.3%	7.8%	8.2%	6.5%	12.0%	13.6%	8.7%	7.2%	3.7%	5.7%	69.9%	58.3%
Net margin	7.9%	6.8%	6.4%	5.8%	2.7%	13.4%	4.6%	4.0%	3.1%	8.1%	7.5%	1.4%	4.5%	5.4%	5.7%	6.5%	3.3%	4.9%	5.2%	7.7%	8.9%	6.4%	4.7%	2.6%	(15.3%)	1.6%	1.4%

Analyst consensus

Buy19 analysts

Bearish · 1 · Hold · 7 · Bullish · 11

Earnings history

	EPS	Estimate
Q3 2024	$3.00	$2.52	Beat
Q4 2024	$4.79	$4.33	Beat
Q1 2025	$3.39	$2.75	Beat
Q2 2025	$5.10	$4.43	Beat
Q3 2025	$5.73	$4.39	Beat
Q4 2025	$5.61	$5.55	Beat
Q1 2026	$5.95	$5.29	Beat
Q2 2026	$6.60	$5.17	Beat

Peers

Company overview

IPO dateFeb 5, 2004

CEOKeith Warner Demmings

Employees14,800

SectorFinancial Services

IndustryInsurance - Property & Casualty

CountryUS

ExchangeNew York Stock Exchange

Websitewww.assurant.com

Assurant, Inc. operates globally, delivering essential lifestyle and housing solutions designed to secure, assist, and connect consumer acquisitions across diverse markets including North America, Latin America, Europe, and the Asia Pacific. The company's operations are divided into two main divisions: Global Lifestyle and Global Housing. The Global Lifestyle segment provides comprehensive mobile device support, extended warranty and maintenance programs for mobile devices, consumer electronics, and appliances, as well as vehicle protection plans and associated services, alongside credit protection and other insurance offerings. Conversely, the Global Housing segment focuses on various insurance products, encompassing lender-placed homeowners, manufactured home, and flood coverage. It also offers renters insurance and related benefits, in addition to optional manufactured housing and homeowners policies, and other specialized insurance products. Founded in 1892, the company was formerly known as Fortis, Inc. before officially changing its name to Assurant, Inc. in February 2004. Its corporate headquarters are situated in New York, New York.

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