The Allstate Corporation

ALL · 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	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992
Valuation
Market cap	$54,469	$51,051	$36,631	$35,962	$33,727	$31,514	$32,237	$23,688	$37,573	$27,295	$24,048	$30,306	$25,328	$19,659	$14,272	$17,225	$16,210	$17,890	$30,941	$41,182	$35,778	$35,976	$30,265	$26,156	$24,271	$32,409	$19,253	$32,040	$39,277	$25,942	$18,483	$10,688	$13,275	$10,591
Enterprise value	$56,373	$53,820	$38,567	$38,892	$36,879	$32,221	$34,270	$26,613	$41,362	$28,918	$26,555	$32,249	$28,461	$22,574	$18,141	$19,320	$18,481	$14,260	$33,101	$42,971	$37,295	$36,763	$33,160	$27,719	$26,021	$33,687	$19,428	$31,051	$40,066	$25,934	$19,711	$11,557	$14,125	–
P/E (TTM) at period end	5.36×	11.22×	–	–	22.48×	5.77×	6.89×	11.77×	10.93×	16.13×	11.70×	11.04×	11.19×	8.53×	18.14×	18.91×	18.98×	–	6.67×	8.25×	20.27×	11.31×	11.19×	23.06×	20.96×	14.66×	7.08×	9.73×	12.65×	12.50×	9.71×	22.08×	10.20×	–
P/S (TTM) at period end	0.80×	0.80×	0.64×	0.70×	0.67×	0.75×	0.78×	0.59×	0.95×	0.73×	0.67×	0.86×	0.73×	0.59×	0.44×	0.55×	0.51×	0.61×	0.84×	1.15×	1.01×	1.06×	0.94×	0.88×	0.84×	1.11×	0.71×	1.24×	1.57×	1.07×	0.80×	0.50×	0.63×	0.52×
P/B at period end	1.78×	2.38×	2.06×	2.06×	1.35×	1.04×	1.24×	1.11×	1.67×	1.33×	1.20×	1.36×	1.18×	0.96×	0.78×	0.93×	0.97×	1.42×	1.42×	1.89×	1.77×	1.65×	1.47×	1.50×	1.41×	1.86×	1.16×	1.86×	2.52×	1.93×	1.46×	1.27×	1.29×	1.47×
EV / EBITDA (TTM)	4.53×	8.01×	52.47×	–	4.68×	4.13×	5.34×	7.67×	7.71×	8.43×	6.73×	6.55×	6.16×	5.55×	11.50×	12.38×	15.97×	–	5.18×	6.15×	18.45×	8.02×	9.29×	18.75×	20.95×	11.23×	4.99×	6.57×	9.08×	9.79×	0.95×	0.63×	0.80×	–
EV / Sales (TTM)	0.83×	0.84×	0.68×	0.76×	0.73×	0.77×	0.82×	0.67×	1.05×	0.77×	0.74×	0.92×	0.82×	0.68×	0.56×	0.62×	0.58×	0.49×	0.90×	1.20×	1.05×	1.08×	1.03×	0.94×	0.90×	1.16×	0.72×	1.20×	1.61×	1.07×	0.86×	0.54×	0.67×	–
Returns
Return on equity	33.2%	21.2%	(1.8%)	(8.0%)	6.0%	18.1%	18.0%	9.4%	15.2%	8.2%	10.3%	12.3%	10.5%	11.2%	4.3%	4.9%	5.1%	(13.3%)	21.2%	22.9%	8.7%	14.6%	13.2%	6.5%	6.7%	12.7%	16.4%	19.1%	19.9%	15.4%	15.0%	5.7%	12.6%	(11.5%)
Return on invested capital	24.9%	17.1%	0.1%	(4.5%)	16.9%	15.1%	14.2%	8.9%	13.5%	8.0%	9.6%	11.5%	10.6%	9.9%	4.6%	5.1%	3.9%	(9.4%)	17.1%	19.2%	7.0%	12.5%	10.8%	7.0%	6.1%	11.0%	14.4%	17.7%	18.2%	13.9%	114.9%	195.9%	149.1%	83.3%
Dividend yield	1.9%	1.9%	2.5%	2.6%	2.6%	2.1%	2.0%	2.6%	1.4%	1.8%	2.0%	1.6%	1.4%	2.7%	3.0%	2.5%	3.3%	5.0%	2.9%	2.1%	2.3%	2.1%	2.1%	2.2%	2.2%	1.5%	2.4%	1.4%	0.8%	1.5%	1.9%	3.0%	2.7%	1.9%
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.49×	2.13×	0.95×	638.50×	20.63×	215.53×	2189.00×	24.20×	27.08×	26.74×	9.93×	14.80×	19.43×	28.16×	–	–	–	–
Debt / equity	0.26×	0.38×	0.45×	0.46×	0.32×	0.26×	0.26×	0.30×	0.28×	0.31×	0.26×	0.23×	0.29×	0.31×	0.34×	0.32×	0.35×	0.45×	0.26×	0.21×	0.26×	0.24×	0.25×	0.24×	0.23×	0.19×	0.17×	0.10×	0.11×	0.10×	0.10×	0.10×	0.08×	–
Effective tax rate	22.0%	20.2%	38.8%	26.7%	20.0%	20.2%	20.5%	17.8%	21.9%	30.6%	33.9%	32.7%	32.9%	30.2%	17.9%	17.2%	33.0%	44.5%	30.3%	30.4%	15.5%	26.8%	23.7%	4.2%	5.7%	26.1%	29.4%	30.0%	29.9%	23.2%	23.1%	(112.3%)	5.4%	64.9%
Share count
Diluted shares outstanding	267	268	262	271	299	316	334	353	368	377	407	438	470	493	523	542	541	548	598	637	667	700	706	710	723	749	804	837	873	897	899	900	900	721

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	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992
Revenue and gross profit
Revenue	$70,137	$67,685	$64,106	$57,094	$51,411	$50,601	$41,909	$41,541	$39,815	$39,407	$37,399	$35,653	$35,239	$34,507	$33,315	$32,654	$31,400	$32,013	$29,394	$36,769	$35,796	$35,383	$33,936	$32,149	$29,579	$28,865	$29,134	$26,959	$25,879	$24,949	$24,299	$23,008	$21,464	$20,946	$20,228
Cost of revenue	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($4,023)	($4,270)	($4,179)	($4,018)	($3,619)	($3,697)	($3,534)	($3,404)	($3,190)	($2,578)	($2,415)	($2,415)	($2,381)	($2,143)	($3,198)	($3,279)	($3,154)
Gross profit	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$25,371	$32,499	$31,617	$31,365	$30,317	$28,452	$26,045	$25,461	$25,944	$24,381	$23,464	$22,534	$21,918	$20,865	$18,266	$17,667	$17,074
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	$30	$37	($9)	($116)	$644	$51	($114)	($468)	$217	($4,939)	($4,081)	($4,341)	($4,387)	($4,118)	($3,468)	($3,542)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($28,396)	($25,846)	($24,439)	($29,277)	($25,731)	($24,881)	($24,505)	($24,113)	($22,897)	($20,474)	($18,719)	($18,100)	($19,249)	($72)	($59)	($82)	–
Total costs and expenses	($53,473)	($55,733)	($57,945)	($57,063)	($52,906)	($43,805)	($34,789)	($35,771)	($36,855)	($34,523)	($34,350)	($32,079)	($30,680)	($30,253)	($29,636)	($31,328)	($29,933)	($30,765)	($32,419)	($30,116)	($28,618)	($33,295)	($29,350)	($28,578)	($28,039)	($27,517)	($26,087)	($23,052)	($21,134)	($20,515)	($21,630)	($2,215)	($3,257)	($3,361)	($3,154)
Operating income	$16,664	$11,952	$6,161	$31	($1,495)	$6,796	$7,120	$5,770	$2,960	$4,884	$3,049	$3,574	$4,559	$4,254	$3,679	$1,326	$1,467	$1,248	($3,025)	$6,653	$7,178	$2,088	$4,586	$3,571	$1,540	$1,348	$3,047	$3,907	$4,745	$4,434	$2,669	$20,793	$18,207	$17,585	$17,074
Earnings
EBITDA	$17,074	$12,434	$6,716	$735	($648)	$7,882	$7,806	$6,417	$3,471	$5,367	$3,431	$3,945	$4,925	$4,622	$4,067	$1,578	$1,561	$1,157	($3,401)	$6,396	$6,990	$2,021	$4,582	$3,568	$1,478	$1,242	$3,000	$3,890	$4,723	$4,412	$2,650	$20,790	$18,259	$17,611	$17,186
Interest income	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($393)	($399)	($400)	($379)	($335)	($330)	($318)	($327)	($332)	($335)	($295)	($292)	($322)	($367)	($373)	($367)	($367)	($392)	($351)	($333)	($357)	($330)	($308)	($275)	($278)	($129)	($229)	($129)	($118)	($100)	($95)	($72)	($59)	($82)	–
Pre-tax income	$16,984	$13,156	$5,761	($348)	($1,830)	$6,466	$6,802	$5,443	$2,628	$4,549	$2,754	$3,282	$4,236	$3,396	$3,306	$959	$1,100	$1,248	($3,025)	$6,653	$7,178	$2,088	$4,586	$3,571	$1,540	$1,285	$3,047	$3,907	$4,745	$4,434	$2,669	$2,477	$228	$1,377	($1,426)
Income tax expense	($3,684)	($2,890)	($1,162)	$135	$488	($1,292)	($1,373)	($1,116)	($468)	($995)	($842)	($1,111)	($1,386)	($1,116)	($1,000)	($172)	($189)	($412)	$1,346	($2,017)	($2,185)	($323)	($1,230)	($846)	($65)	($73)	($795)	($1,148)	($1,422)	($1,324)	($619)	($573)	$256	($75)	$926
Net income	$13,306	$10,282	$4,667	($188)	($1,289)	$1,614	$5,576	$4,847	$2,160	$3,554	$1,808	$2,171	$2,850	$2,280	$2,306	$787	$928	$854	($1,679)	$4,636	$4,993	$1,765	$3,181	$2,705	$1,134	$1,158	$2,211	$2,720	$3,294	$3,105	$2,075	$1,904	$484	$1,302	($826)
Per share
Diluted EPS (GAAP)	$50.08	$38.06	$16.99	($1.20)	($5.14)	$5.01	$17.31	$14.03	$5.70	$9.35	$4.48	$5.05	$6.27	$4.81	$4.68	$1.50	$1.68	$1.64	($3.06)	$7.76	$7.84	$2.64	$4.54	$3.83	$1.60	$1.60	$2.95	$3.38	$3.94	$3.56	$2.32	$2.12	$0.54	$1.50	($1.15)
Basic EPS (GAAP)	$50.70	$38.56	$17.22	($1.20)	($5.14)	$5.09	$17.53	$14.25	$5.78	$9.50	$4.54	$5.12	$6.37	$4.87	$4.71	$1.51	$1.69	$1.65	($3.06)	$7.80	$7.89	$2.67	$4.57	$3.85	$1.60	$1.61	$2.97	$3.40	$3.96	$3.58	$2.33	$2.13	$0.54	$1.50	($1.15)
Basic shares outstanding	260	264	264	262	271	295	312	328	348	362	373	401	431	464	489	521	540	540	548	594	632	662	696	704	707	720	744	800	832	868	896	899	900	900	721
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	86.3%	88.4%	88.3%	88.6%	89.3%	88.5%	88.1%	88.2%	89.1%	90.4%	90.7%	90.3%	90.2%	90.7%	85.1%	84.3%	84.4%
Operating margin	23.8%	17.7%	9.6%	0.1%	(2.9%)	13.4%	17.0%	13.9%	7.4%	12.4%	8.2%	10.0%	12.9%	12.3%	11.0%	4.1%	4.7%	3.9%	(10.3%)	18.1%	20.1%	5.9%	13.5%	11.1%	5.2%	4.7%	10.5%	14.5%	18.3%	17.8%	11.0%	90.4%	84.8%	84.0%	84.4%
Net margin	19.0%	15.2%	7.3%	(0.3%)	(2.5%)	3.2%	13.3%	11.7%	5.4%	9.0%	4.8%	6.1%	8.1%	6.6%	6.9%	2.4%	3.0%	2.7%	(5.7%)	12.6%	13.9%	5.0%	9.4%	8.4%	3.8%	4.0%	7.6%	10.1%	12.7%	12.4%	8.5%	8.3%	2.3%	6.2%	(4.1%)

Analyst consensus

Hold45 analysts

Bearish · 3 · Hold · 24 · Bullish · 18

Earnings history

	EPS	Estimate
Q3 2024	$3.91	$2.36	Beat
Q4 2024	$7.67	$5.40	Beat
Q1 2025	$3.53	$2.52	Beat
Q2 2025	$5.94	$3.25	Beat
Q3 2025	$11.17	$7.67	Beat
Q4 2025	$14.31	$9.83	Beat
Q1 2026	$10.65	$7.31	Beat
Q2 2026	$8.99	$6.06	Beat

Peers

Company overview

IPO dateJun 3, 1993

CEOThomas Joseph Wilson

Employees53,150

SectorFinancial Services

IndustryInsurance - Property & Casualty

CountryUS

ExchangeNew York Stock Exchange

Websitewww.allstate.com

The Allstate Corporation, along with its affiliated entities, provides a comprehensive suite of property, casualty, and other insurance offerings throughout the United States and Canada. The company's operations are structured across four primary business segments: Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability. The Allstate Protection segment delivers a wide array of personal and commercial insurance solutions. This includes standard private passenger auto and homeowners policies, as well as specialized vehicle coverage for motorcycles, trailers, motor homes, and off-road vehicles. Additional personal lines encompass renter, condominium, landlord, boat, umbrella, manufactured home, and stand-alone scheduled personal property policies. Commercial lines products are also available, marketed under the Allstate and Encompass brand names. The Protection Services division focuses on consumer protection and related financial services. Its offerings include product protection plans and technical assistance for mobile phones, consumer electronics, furniture, and appliances. It also provides finance and insurance products such as vehicle service contracts, guaranteed asset protection (GAP) waivers, road hazard tire and wheel protection, and paint and fabric protection. Furthermore, this segment delivers roadside assistance, device and mobile data collection, advanced data and analytical insights leveraging automotive telematics, and identity protection services. Key brands within this segment include Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside Services, Arity, and Allstate Identity Protection. The Allstate Health and Benefits segment specializes in various health-related insurance products, including life, accident, critical illness, short-term disability, and other health coverage options. Finally, the Run-off Property-Liability segment manages existing property and casualty insurance obligations. Allstate's products are distributed through a diverse network of channels, which include call centers, captive agents, financial specialists, independent agents, brokers, wholesale partners, and affinity groups, as well as directly via online platforms and mobile applications. The Allstate Corporation was founded in 1931 and is headquartered in Northbrook, Illinois.

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