A Business at a Glance
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AMERICAN INTERNATIONAL GROUP, INC.
AIG
$45.1B
Mkt Cap
$79.06
+1.15%
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a current P/E ratio of 14.6, compared to its historical median P/E of 11.7. The stock is currently considered Fair based on its historical valuation range.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a 5-year average return on invested capital (ROIC) of 6.4%. This is below average and may indicate limited pricing power.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a market capitalization of $42.1B. It is classified as a large-cap stock.
Yes, AMERICAN INTERNATIONAL GROUP, INC. (AIG) pays a dividend with a trailing twelve-month yield of 2.33%. The company also returns capital through share buybacks, with a buyback yield of 9.77%.
Based on historical P/E analysis, AMERICAN INTERNATIONAL GROUP, INC. (AIG) appears fair. The current P/E of 14.6 is 25% above its historical median of 11.7. The estimated fair value CAGR (P/E method) is 18.5%.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
American International Group, Inc. (AIG) is a leading global insurance organization providing insurance solutions across three operating segments—North America Commercial, International Commercial, and Global Personal—serving millions of clients ranging from individuals to Fortune 500 multinational companies across over 200 countries and jurisdictions. The company earns revenues primarily from insurance premiums and investment income, with profitability dependent on accurate risk pricing, loss reserve management, effective portfolio investment management, and cost discipline. AIG's commercial lines products include property and short-tail coverage, casualty insurance, financial lines (professional liability, directors and officers, cyber risk, and related exposures), and global specialty products (marine, energy, aviation, political risk, and trade finance), while personal insurance offerings encompass group accident and health products, personal auto and homeowners coverage, extended warranty and device protection, and high net-worth private client services. The company operates through a broad distribution network of brokers, agents, advisors, and marketplaces, leveraging world-class underwriting expertise and claims capabilities across franchises that are leaders in their respective geographies and segments. AIG maintains substantial balance sheet strength with approximately $41 billion in shareholders' equity and $9.3 billion in parent liquidity as of December 31, 2025, supported by a global workforce of more than 22,000 employees across approximately 45 countries.
【Strategic growth and profitability expansion】 Management is advancing ambitious three-year financial guidance announced at Investor Day 2025, targeting operating earnings per share compound annual growth exceeding 20% through 2027, core operating return on equity of 10%-13%, and general insurance expense ratio improvement to below 30% by 2027. The company expects balanced net premiums written growth with strong accident year combined ratios, with net premiums earned growth anticipated to benefit results in the back half of 2026 and into 2027, supported by organic growth initiatives, strategic acquisitions (including the Everest portfolio conversion and Convex quota share), and disciplined underwriting in targeted market segments. AIG is deploying generative AI capabilities across underwriting functions to enhance operational efficiency and decision-making, with early results demonstrating significant improvements in submission processing, quoting speed, and binding rates. The company intends to continue disciplined capital management, including at least $1 billion in share repurchases in 2026 and a 10% dividend increase, while maintaining financial flexibility to pursue additional strategic opportunities and manage through evolving market conditions.
| Metric | Target | Period |
|---|---|---|
| Operating EPS compound annual growth | over 20% | Three years ending 2027 |
| Core Operating ROE | 10%-13% | Through 2027 |
| General Insurance expense ratio | less than 30% | By 2027 |
| Dividend increase | 10% | 2026 |
| Global Personal Insurance combined ratio | 94% | By 2027 |
| General Insurance net premiums written growth | low to mid-teens | Full year 2026 |
| Share repurchases | at least $1 billion | 2026 |
Operating EPS compound annual growth (Three years ending 2027): “delivering Operating EPS compound annual growth of over 20% over the three years ending 2027”
Core Operating ROE (Through 2027): “driving Core Operating ROE of 10%-13% through 2027”
General Insurance expense ratio (By 2027): “improving General Insurance's expense ratio to less than 30% by 2027”
Dividend increase (2026): “supporting the increase in our dividend by 10% in 2026”
Global Personal Insurance combined ratio (By 2027): “achieving improvement in Global Personal Insurance combined ratio to 94% by 2027”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 26.6B | 26.8B | 27.3B | 27.9B | 30.0B | 52.2B |
| Net Income | 3.2B | 3.1B | -1.4B | 3.6B | 10.2B | 10.3B |
| EPS | $5.79 | $5.43 | $-2.17 | $4.98 | $12.94 | $11.95 |
| Free Cash Flow | 0 | 3.3B | 3.3B | 6.0B | 3.9B | 5.9B |
| ROIC | 0.0% | 6.1% | -2.7% | 5.8% | 12.4% | 10.3% |
| Gross Margin | - | 14.5% | 14.2% | 10.3% | 12.6% | 25.6% |
| Debt/Equity | 0.00 | 0.22 | 0.21 | 0.24 | 0.70 | 0.46 |
| Dividends/Share | $1.84 | $1.75 | $1.56 | $1.40 | $1.28 | $1.28 |
| Operating Income | 0 | 3.9B | 3.9B | 2.9B | 3.8B | 13.3B |
| Operating Margin | 0.0% | 14.5% | 14.2% | 10.3% | 12.6% | 25.6% |
| ROE | 7.8% | 7.4% | -3.2% | 8.4% | 19.1% | 15.6% |
| Shares Outstanding | 533M | 570M | 657M | 726M | 788M | 865M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 64.4B | 58.3B | 52.4B | 49.5B | 47.4B | 49.7B | 43.7B | 52.2B | 30.0B | 27.9B | 27.3B | 26.8B | 26.6B |
| Gross Margin | 16.3% | 5.6% | -0.1% | 3.0% | 0.5% | 10.6% | -16.7% | 25.6% | 12.6% | 10.3% | 14.2% | 14.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 13.1B | 12.7B | 11.0B | 9.1B | 9.3B | 8.5B | 8.4B | 8.7B | 6.2B | 5.4B | 5.5B | 5.1B | 5.1B |
| EBIT | 10.5B | 3.3B | -74M | 1.5B | 257M | 5.3B | -7.3B | 13.3B | 3.8B | 2.9B | 3.9B | 3.9B | 0 |
| Op. Margin | 16.3% | 5.6% | -0.1% | 3.0% | 0.5% | 10.6% | -16.7% | 25.6% | 12.6% | 10.3% | 14.2% | 14.5% | 0.0% |
| Net Income | 7.5B | 2.2B | -849M | -6.1B | -6.0M | 3.3B | -6.0B | 10.3B | 10.2B | 3.6B | -1.4B | 3.1B | 3.2B |
| Net Margin | 11.7% | 3.8% | -1.6% | -12.3% | -0.0% | 6.7% | -13.7% | 19.8% | 34.0% | 12.9% | -5.2% | 11.6% | 11.9% |
| Non-Recurring | 952M | 3.0B | 2.2B | 1.4B | 850M | 598M | 533M | 479M | 425M | 377M | 772M | 761M | 439M |
| Returns on Capital | |||||||||||||
| ROIC | 5.4% | 1.7% | -0.8% | -6.0% | -0.0% | 3.5% | -5.8% | 10.3% | 12.4% | 5.8% | -2.7% | 6.1% | 0.0% |
| ROE | 7.3% | 2.2% | -1.0% | -8.6% | -0.0% | 5.5% | -9.0% | 15.6% | 19.1% | 8.4% | -3.2% | 7.4% | 7.8% |
| ROA | 1.4% | 0.4% | -0.2% | -1.2% | -0.0% | 0.7% | -1.1% | 1.7% | 1.8% | 0.7% | -0.4% | 1.9% | 2.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 5.0B | 2.9B | 3.5B | -7.8B | -394M | -1.8B | 1.0B | 6.2B | 4.1B | 6.2B | 3.3B | 3.3B | 3.5B |
| Free Cash Flow | 3.2B | 1.2B | 2.4B | -8.3B | -762M | -2.1B | 685M | 5.9B | 3.9B | 6.0B | 3.3B | 3.3B | 0 |
| Owner Earnings | 210M | -2.1B | -796M | -12.0B | -742M | -2.1B | 755M | 5.9B | -15M | 2.2B | -535M | -348M | 3.2B |
| CapEx | 1.8B | 1.7B | 1.1B | 483M | 368M | 304M | 353M | 343M | 210M | 240M | 0 | 0 | 0 |
| Maint. CapEx | 4.4B | 4.6B | 4.1B | 3.9B | 11M | 8.0M | 9.0M | 8.0M | 3.9B | 3.8B | 3.6B | 3.5B | 121M |
| Growth CapEx | 0 | 0 | 0 | 0 | 357M | 296M | 344M | 335M | 0 | 0 | N/A | N/A | 0 |
| D&A | 4.4B | 4.6B | 4.1B | 3.9B | 11M | 8.0M | 9.0M | 8.0M | 3.9B | 3.8B | 3.6B | 3.5B | 121M |
| CapEx/OCF | 36.6% | 59.9% | 32.0% | N/A | N/A | N/A | 34.0% | 5.5% | 5.1% | 3.8% | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 712M | 1.0B | 1.4B | 1.2B | 1.1B | 1.1B | 1.1B | 1.1B | 982M | 997M | 1.0B | 976M | 983M |
| Dividend Yield | 1.2% | 1.7% | 2.8% | 2.5% | 4.4% | 3.0% | 4.3% | 2.8% | 2.4% | 2.5% | 2.1% | 2.2% | 2.3% |
| Share Buybacks | 4.9B | 10.7B | 11.5B | 6.3B | 1.7B | 0 | 500M | 2.6B | 5.2B | 3.0B | 6.7B | 5.8B | 4.1B |
| Buyback Yield | 7.8% | 16.8% | 20.1% | 13.8% | 9.0% | N/A | 1.7% | 5.8% | 11.2% | 6.3% | 14.2% | 11.8% | 9.8% |
| Stock-Based Comp | 349M | 365M | 208M | 353M | 337M | 314M | 274M | 278M | 288M | 199M | 211M | 207M | 207M |
| Debt Repayment | 16.2B | 9.8B | 4.1B | 3.7B | 3.7B | 3.2B | 1.9B | 4.1B | 9.5B | 2.3B | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 18.2B | 16.9B | 16.5B | 18.5B | 21.5B | 18.8B | -237.2B | -249.5B | 14.7B | -3.6B | -6.9B | -3.3B | -8.3B |
| Cash & Equiv. | 1.8B | 2.2B | 2.1B | 2.7B | 3.4B | 3.3B | 3.2B | 2.4B | 1.6B | 1.6B | 1.4B | 1.3B | 8.3B |
| Long-Term Debt | 31.2B | 29.2B | 30.9B | 31.6B | 34.5B | 35.4B | 37.5B | 30.2B | 27.2B | 10.6B | 8.9B | 9.2B | 9.2B |
| Debt/Equity | 0.29 | 0.33 | 0.41 | 0.49 | 0.61 | 0.54 | 0.57 | 0.46 | 0.70 | 0.24 | 0.21 | 0.22 | 0.00 |
| Interest Coverage | 6.1 | 2.6 | -0.1 | 1.3 | 0.2 | 3.7 | -5.0 | 10.2 | 6.3 | 5.6 | 8.4 | 9.8 | 9.8 |
| Equity | 106.9B | 89.7B | 76.3B | 65.2B | 56.4B | 65.7B | 66.4B | 66.0B | 41.0B | 45.4B | 42.5B | 41.1B | 40.4B |
| Total Assets | 515.6B | 496.8B | 498.3B | 498.3B | 492.0B | 525.1B | 586.5B | 596.1B | 522.2B | 539.3B | 161.3B | 161.3B | 161.5B |
| Total Liabilities | 408.3B | 406.6B | 421.4B | 432.6B | 434.7B | 457.6B | 519.3B | 527.2B | 478.8B | 488.0B | 118.8B | 120.1B | 121.1B |
| Intangibles | N/A | N/A | N/A | 106M | 360M | 333M | 319M | 300M | 704M | 394M | 370M | 684M | 684M |
| Retained Earnings | 29.8B | 30.9B | 28.7B | 21.5B | 20.9B | 23.1B | 15.5B | 23.8B | 34.9B | 37.5B | 35.1B | 37.2B | 37.7B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 5.20 | 1.65 | -0.78 | -6.54 | -0.01 | 3.74 | -6.88 | 11.95 | 12.94 | 4.98 | -2.17 | 5.43 | 5.79 |
| Owner EPS | 0.15 | -1.59 | -0.73 | -12.95 | -1.24 | -2.39 | 0.87 | 6.86 | -0.02 | 3.04 | -0.81 | -0.61 | 6.00 |
| Book Value | 73.83 | 67.37 | 70.10 | 70.06 | 93.94 | 73.85 | 76.44 | 76.24 | 51.99 | 62.49 | 64.71 | 72.15 | 75.82 |
| Cash Flow/Share | 3.46 | 2.16 | 3.22 | -8.40 | -0.66 | -2.03 | 1.20 | 7.19 | 5.25 | 8.60 | 4.98 | 5.81 | 6.16 |
| Dividends/Share | 0.50 | 0.81 | 1.28 | 1.28 | 1.90 | 1.25 | 1.27 | 1.28 | 1.28 | 1.40 | 1.56 | 1.75 | 1.84 |
| Shares Out. | 1.4B | 1.3B | 1.1B | 930.3M | 600.0M | 889.3M | 868.2M | 865.1M | 788.1M | 725.7M | 657.1M | 570.2M | 532.9M |
| Valuation | |||||||||||||
| P/E Ratio | 8.3 | 29.1 | N/A | N/A | N/A | 11.7 | N/A | 4.3 | 4.5 | 13.1 | N/A | 15.9 | 13.6 |
| P/FCF | 19.8 | 55.3 | 24.0 | N/A | N/A | N/A | 41.9 | 7.6 | 11.8 | 7.9 | 14.3 | 14.9 | N/A |
| EV/EBIT | 6.6 | 17.8 | 123.5 | 24.5 | 28.0 | 9.8 | N/A | 4.4 | 5.4 | 10.6 | 200.8 | 11.1 | N/A |
| Price/Book | 0.6 | 0.7 | 0.7 | 0.7 | 0.3 | 0.6 | 0.4 | 0.7 | 1.1 | 1.0 | 1.1 | 1.2 | 1.0 |
| Price/Sales | 0.9 | 1.0 | 0.9 | 0.9 | 0.5 | 0.8 | 0.6 | 0.7 | 1.4 | 1.4 | 1.7 | 1.7 | 1.6 |
| FCF Yield | 5.1% | 1.8% | 4.2% | -18.3% | -3.9% | -5.4% | 2.4% | 13.1% | 8.5% | 12.7% | 7.0% | 6.7% | N/A |
| Market Cap | 62.7B | 63.8B | 57.1B | 45.4B | 19.3B | 38.9B | 28.7B | 44.8B | 46.4B | 47.2B | 47.0B | 49.3B | 42.1B |
| Avg. Price | 40.28 | 45.29 | 45.07 | 50.23 | 43.23 | 42.38 | 29.65 | 45.20 | 52.74 | 55.72 | 71.93 | 79.12 | 79.06 |
| Year-End Price | 43.33 | 47.95 | 52.44 | 48.76 | 32.22 | 43.70 | 33.08 | 51.82 | 58.82 | 65.06 | 71.47 | 86.48 | 79.06 |
AMERICAN INTERNATIONAL GROUP, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
AMERICAN INTERNATIONAL GROUP, INC. trades at 14.6x trailing earnings, compared to its 15-year median P/E of 11.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.6x vs a median of 14.3x. The company's 5-year average ROIC is 6.4% with a gross margin of 15.4%. Total shareholder yield (dividends + buybacks) is 12.1%. At current prices, the estimated annualized return to fair value is +35.7%.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) reported annual revenue of $26.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a net profit margin of 11.6%. This is a healthy margin.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) generated $3.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a debt-to-equity ratio of 0.22. This indicates a conservatively financed balance sheet.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) reported earnings per share (EPS) of $5.43 in its most recent fiscal year.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a return on equity (ROE) of 7.4%. This indicates moderate shareholder returns.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a 5-year average gross margin of 15.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for AMERICAN INTERNATIONAL GROUP, INC. (AIG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AMERICAN INTERNATIONAL GROUP, INC. (AIG) has a book value per share of $72.15, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is advancing ambitious three-year financial guidance announced at Investor Day 2025, targeting operating earnings per share compound annual growth exceeding 20% through 2027, core operating return on equity of 10%-13%, and general insurance expense ratio improvement to below 30% by 2027. The company expects balanced net premiums written growth with strong accident year combined ratios, with net premiums earned growth anticipated to benefit results in the back half of 2026 and into 2027, supported by organic growth initiatives, strategic acquisitions (including the Everest portfolio conversion and Convex quota share), and disciplined underwriting in targeted market segments. AIG is deploying generative AI capabilities across underwriting functions to enhance operational efficiency and decision-making, with early results demonstrating significant improvements in submission processing, quoting speed, and binding rates. The company intends to continue disciplined capital management, including at least $1 billion in share repurchases in 2026 and a 10% dividend increase, while maintaining financial flexibility to pursue additional strategic opportunities and manage through evolving market conditions.
Based on recent SEC filings and earnings calls, AMERICAN INTERNATIONAL GROUP, INC. (AIG) has provided the following forward guidance: Operating EPS compound annual growth: over 20% (Three years ending 2027); Core Operating ROE: 10%-13% (Through 2027); General Insurance expense ratio: less than 30% (By 2027); Dividend increase: 10% (2026); Global Personal Insurance combined ratio: 94% (By 2027), plus 2 additional metrics.
General Insurance net premiums written growth (Full year 2026): “For full year 2026, we continue to expect low to mid-teens net premium written growth in General Insurance”
Share repurchases (2026): “For 2026, we intend to repurchase at least $1 billion of common shares, subject to market conditions”