A Business at a Glance
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ASSURANT, INC.
AIZ
$14.1B
Mkt Cap
$276.94
+1.15%
ASSURANT, INC. (AIZ) has a current P/E ratio of 16.4, compared to its historical median P/E of 14.4. The stock is currently considered Fair based on its historical valuation range.
ASSURANT, INC. (AIZ) has a 5-year average return on invested capital (ROIC) of 14.5%. This indicates solid capital allocation.
ASSURANT, INC. (AIZ) has a market capitalization of $13.8B. It is classified as a large-cap stock.
Yes, ASSURANT, INC. (AIZ) pays a dividend with a trailing twelve-month yield of 1.25%. The company also returns capital through share buybacks, with a buyback yield of 2.64%.
Based on historical P/E analysis, ASSURANT, INC. (AIZ) appears fair. The current P/E of 16.4 is 14% above its historical median of 14.4. The estimated fair value CAGR (P/E method) is 18.6%.
ASSURANT, INC. (AIZ) operates in the Insurance Carriers, Nec industry, within the Financials sector.
ASSURANT, INC. (AIZ) reported annual revenue of $12.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
Assurant is a global protection company operating through two segments—Global Lifestyle and Global Housing—that partners with leading brands to provide insurance and service solutions for connected devices, homes, and automobiles. Global Lifestyle comprises Connected Living (mobile device solutions, extended service contracts for consumer electronics and appliances, and financial services products) and Global Automotive (vehicle protection and commercial equipment protection services), while Global Housing includes lender-placed homeowners insurance, manufactured housing and flood insurance, and renters insurance. The company operates a business-to-business-to-consumer (B2B2C) distribution model that generates significant operating cash flows and creates earnings diversification; it owns or manages multiple pieces of the value chain, enabling end-to-end solutions from product design through claims handling, repair, refurbishment, and device disposition. Assurant differentiates itself through data-driven technology platforms, artificial intelligence capabilities, a global network of approximately 1,150 repair and partner locations, and deep partnerships with major clients including mobile carriers, retailers, and financial institutions across North America, Latin America, Europe, and Asia Pacific. The company's competitive strengths include a strong balance sheet (total assets of $36.29 billion and debt-to-total-capital ratio of 27.3% as of December 31, 2025), robust administrative capabilities, supply chain management expertise, and integrated technology platforms that enable superior customer experiences and operational efficiency.
【Disciplined growth with technology leverage】 Management expects Global Lifestyle to lead enterprise growth in 2026, with Connected Living benefiting from continued optimization of new programs, expansion with existing clients, and contributions from recently announced programs and capabilities, while Global Automotive grows from higher investment income, continued loss improvement, and expanded global partnerships. Global Housing is anticipated to deliver solid underlying growth driven by higher tracked loans, new client wins, and the continued hardening of the voluntary homeowners market, though placement rates are expected to experience some quarterly fluctuations from client loan movements. The company is investing substantially in artificial intelligence and digital capabilities to transform operations, enhance customer experience, and drive personalization across all business lines, while maintaining disciplined capital deployment through share repurchases and organic investments in adjacent markets such as home warranty. Management remains focused on leveraging its differentiated B2B2C distribution model and integrated technology platforms to strengthen client partnerships and capture growth opportunities across specialized protection and insurance markets.
| Metric | Target | Period |
|---|---|---|
| Adjusted EBITDA and Earnings Per Share growth | low single digits | FY2026 |
| Adjusted EBITDA and Earnings Per Share growth (underlying, excluding prior year development) | high single digit | FY2026 |
| Global Lifestyle Adjusted EBITDA growth | approximately 10% | FY2026 |
| Catastrophe reinsurance load assumption | $180 million | FY2026 |
Adjusted EBITDA and Earnings Per Share growth (FY2026): “We now expect full year adjusted EBITDA and earnings per share to grow low single digits, both excluding CATs, overcoming $94 million of lower favorable prior year reserve development.”
Adjusted EBITDA and Earnings Per Share growth (underlying, excluding prior year development) (FY2026): “Excluding the impact of prior year development, we expect high single digit underlying growth in both adjusted EBITDA and earnings per share excluding CATs.”
Global Lifestyle Adjusted EBITDA growth (FY2026): “We're increasing our outlook for Lifestyle and now expect growth of approximately 10%, reflecting our strong first quarter results.”
Catastrophe reinsurance load assumption (FY2026): “Our program costs are expected to be about $180 million this year, down about $20 million from the $200 million from last year.”
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 | 13.2B | 12.8B | 11.9B | 11.1B | 10.2B | 10.2B |
| Net Income | 990M | 865M | 753M | 636M | 277M | 1.4B |
| EPS | $19.79 | $16.93 | $14.46 | $11.95 | $5.05 | $22.66 |
| Free Cash Flow | 1.5B | 1.6B | 1.1B | 936M | 411M | 594M |
| ROIC | 0.0% | 15.8% | 14.8% | 13.7% | 5.5% | 22.6% |
| Gross Margin | - | 8.5% | 7.8% | 7.2% | 3.4% | 7.6% |
| Debt/Equity | 0.38 | 0.38 | 0.41 | 0.43 | 0.50 | 0.40 |
| Dividends/Share | $3.45 | $3.28 | $2.96 | $2.82 | $2.74 | $2.66 |
| Operating Income | 0 | 1.1B | 927M | 807M | 350M | 771M |
| Operating Margin | 0.0% | 8.5% | 7.8% | 7.2% | 3.4% | 7.6% |
| ROE | 16.9% | 15.8% | 15.2% | 14.1% | 5.7% | 23.8% |
| Shares Outstanding | 50M | 51M | 52M | 53M | 55M | 60M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 10.4B | 10.3B | 7.5B | 6.4B | 8.1B | 9.6B | 9.6B | 10.2B | 10.2B | 11.1B | 11.9B | 12.8B | 13.2B |
| Gross Margin | 7.2% | 1.9% | 11.3% | 6.9% | 4.1% | 4.8% | 6.0% | 7.6% | 3.4% | 7.2% | 7.8% | 8.5% | 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 | 3.7B | 3.9B | 3.4B | 2.7B | 3.0B | 3.2B | 3.0B | 3.2B | N/A | N/A | N/A | N/A | N/A |
| EBIT | 744M | 201M | 849M | 445M | 334M | 455M | 578M | 771M | 350M | 807M | 927M | 1.1B | 0 |
| Op. Margin | 7.2% | 1.9% | 11.3% | 6.9% | 4.1% | 4.8% | 6.0% | 7.6% | 3.4% | 7.2% | 7.8% | 8.5% | 0.0% |
| Net Income | 471M | 142M | 565M | 520M | 237M | 364M | 422M | 1.4B | 277M | 636M | 753M | 865M | 990M |
| Net Margin | 4.5% | 1.4% | 7.5% | 8.1% | 2.9% | 3.8% | 4.4% | 13.3% | 2.7% | 5.7% | 6.3% | 6.8% | 7.5% |
| Non-Recurring | 0 | 86M | 31M | 9.0M | -20M | -7.4M | 0 | 0 | 50M | 34M | -3.2M | 17M | 28M |
| Returns on Capital | |||||||||||||
| ROIC | 8.8% | 2.9% | 12.7% | 10.7% | 3.8% | 4.9% | 6.1% | 22.6% | 5.5% | 13.7% | 14.8% | 15.8% | 0.0% |
| ROE | 9.4% | 2.9% | 13.1% | 12.4% | 5.0% | 6.8% | 7.3% | 23.8% | 5.7% | 14.1% | 15.2% | 15.8% | 16.9% |
| ROA | 1.5% | 0.5% | 1.9% | 1.7% | 0.6% | 0.9% | 0.9% | 3.5% | 0.8% | 1.9% | 2.2% | 2.4% | 2.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 394M | 230M | 109M | 530M | 657M | 1.4B | 1.3B | 782M | 597M | 1.1B | 1.3B | 1.8B | 1.7B |
| Free Cash Flow | 310M | 115M | 23M | 468M | 574M | 1.3B | 1.2B | 594M | 411M | 936M | 1.1B | 1.6B | 1.5B |
| Owner Earnings | 233M | 72M | -42M | 388M | 483M | 1.2B | 1.2B | 552M | 354M | 856M | 1.0B | 1.5B | 935M |
| CapEx | 84M | 115M | 85M | 62M | 83M | 110M | 121M | 187M | 186M | 203M | 221M | 236M | 230M |
| Maint. CapEx | 112M | 119M | 109M | 107M | 117M | 114M | 130M | 163M | 181M | 207M | 237M | 265M | 659M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25M | 5.5M | 0 | 0 | 0 | 0 |
| D&A | 112M | 119M | 109M | 107M | 117M | 114M | 130M | 163M | 181M | 207M | 237M | 265M | 659M |
| CapEx/OCF | 21.2% | 50.0% | 78.5% | 11.7% | 12.6% | 7.8% | 9.0% | 24.0% | 31.2% | 17.8% | 16.6% | 12.8% | 13.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 77M | 94M | 125M | 119M | 134M | 151M | 155M | 158M | 150M | 152M | 156M | 168M | 172M |
| Dividend Yield | 2.0% | 2.4% | 2.9% | 2.6% | 2.7% | 2.5% | 2.4% | 1.9% | 1.8% | 2.2% | 1.7% | 1.6% | 1.2% |
| Share Buybacks | 215M | 293M | 863M | 389M | 139M | 272M | 297M | 839M | 573M | 193M | 307M | 304M | 364M |
| Buyback Yield | 5.3% | 6.4% | 17.9% | 8.1% | 3.0% | 3.8% | 4.0% | 9.8% | 8.9% | 2.2% | 2.8% | 2.5% | 2.6% |
| Stock-Based Comp | 49M | 39M | 42M | 36M | 57M | 56M | 58M | 67M | 63M | 75M | 81M | 86M | 88M |
| Debt Repayment | 467M | 0 | 373M | 0 | 350M | 380M | 0 | 420M | 76M | 225M | 0 | 176M | 176M |
| Balance Sheet | |||||||||||||
| Net Debt | -11.4B | -10.3B | -9.5B | -9.6B | 379M | -263M | -6.8B | -7.1B | -5.7B | -6.5B | -6.9B | -8.2B | 286M |
| Cash & Equiv. | 1.3B | 1.3B | 1.0B | 997M | 1.3B | 1.9B | 2.2B | 2.0B | 1.5B | 1.6B | 1.8B | 1.8B | 1.9B |
| Long-Term Debt | 0 | 0 | 250M | 1.1B | 2.0B | 2.0B | 244M | 347M | 0 | 225M | N/A | N/A | 2.2B |
| Debt/Equity | 0.23 | 0.26 | 0.26 | 0.25 | 0.39 | 0.36 | 0.38 | 0.40 | 0.50 | 0.43 | 0.41 | 0.38 | 0.38 |
| Interest Coverage | 12.7 | 3.7 | 14.7 | 9.0 | 3.3 | 4.1 | 5.5 | 6.9 | 3.2 | 7.5 | 8.7 | 9.9 | 9.9 |
| Equity | 5.2B | 4.5B | 4.1B | 4.3B | 5.1B | 5.7B | 6.0B | 5.5B | 4.2B | 4.8B | 5.1B | 5.9B | 5.9B |
| Total Assets | 31.6B | 30.0B | 29.7B | 31.8B | 41.1B | 44.3B | 44.6B | 33.9B | 33.1B | 33.6B | 35.0B | 36.3B | 35.8B |
| Total Liabilities | 26.4B | 25.5B | 25.6B | 27.6B | 36.0B | 38.6B | 38.7B | 28.5B | 28.9B | 28.8B | 29.9B | 30.4B | 29.9B |
| Intangibles | 382M | 277M | 240M | 289M | 622M | 540M | 696M | 719M | 639M | 567M | 536M | 522M | 511M |
| Retained Earnings | 4.8B | 4.9B | 5.3B | 5.7B | 5.8B | 6.0B | 3.5B | 4.0B | 3.7B | 4.0B | 4.4B | 4.8B | 4.9B |
| 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 | 6.44 | 2.05 | 9.13 | 9.39 | 3.98 | 5.84 | 6.98 | 22.66 | 5.05 | 11.95 | 14.46 | 16.93 | 19.79 |
| Owner EPS | 3.18 | 1.04 | -0.68 | 7.01 | 8.11 | 19.96 | 19.08 | 9.22 | 6.45 | 16.09 | 19.49 | 29.02 | 18.82 |
| Book Value | 70.86 | 65.50 | 66.18 | 77.18 | 85.92 | 90.72 | 98.41 | 91.24 | 77.21 | 90.44 | 98.13 | 114.92 | 118.17 |
| Cash Flow/Share | 5.39 | 3.33 | 1.75 | 9.59 | 11.04 | 22.68 | 22.19 | 13.05 | 10.90 | 21.40 | 25.61 | 35.89 | 33.20 |
| Dividends/Share | 1.06 | 1.37 | 2.03 | 2.15 | 2.28 | 2.43 | 2.55 | 2.66 | 2.74 | 2.82 | 2.96 | 3.28 | 3.45 |
| Shares Out. | 73.1M | 69.1M | 61.9M | 55.3M | 59.5M | 62.3M | 60.5M | 59.9M | 54.8M | 53.2M | 52.0M | 51.1M | 49.7M |
| Valuation | |||||||||||||
| P/E Ratio | 8.6 | 32.2 | 8.5 | 9.3 | 19.4 | 19.9 | 17.5 | 6.3 | 23.2 | 13.6 | 14.6 | 14.1 | 14.0 |
| P/FCF | 13.0 | 39.7 | 206.3 | 10.3 | 8.0 | 5.5 | 6.0 | 14.4 | 15.6 | 9.2 | 9.9 | 7.6 | 9.5 |
| EV/EBIT | 4.4 | 15.3 | 5.1 | 9.3 | 11.9 | 11.2 | 12.2 | 5.2 | 15.0 | 9.7 | 10.7 | 10.3 | N/A |
| Price/Book | 0.8 | 1.0 | 1.2 | 1.1 | 0.9 | 1.3 | 1.2 | 1.6 | 1.5 | 1.8 | 2.2 | 2.1 | 2.3 |
| Price/Sales | 0.4 | 0.4 | 0.6 | 0.7 | 0.6 | 0.6 | 0.7 | 0.8 | 0.8 | 0.6 | 0.8 | 0.8 | 1.0 |
| FCF Yield | 7.7% | 2.5% | 0.5% | 9.7% | 12.5% | 18.0% | 16.6% | 6.9% | 6.4% | 10.8% | 10.0% | 13.0% | 10.6% |
| Market Cap | 4.0B | 4.6B | 4.8B | 4.8B | 4.6B | 7.2B | 7.4B | 8.6B | 6.4B | 8.6B | 11.1B | 12.3B | 13.8B |
| Avg. Price | 52.45 | 57.53 | 69.11 | 83.40 | 84.21 | 97.98 | 106.32 | 140.64 | 150.23 | 130.26 | 179.44 | 205.09 | 276.94 |
| Year-End Price | 55.29 | 66.04 | 77.95 | 86.92 | 77.17 | 115.99 | 121.82 | 143.00 | 117.27 | 162.28 | 210.94 | 239.16 | 276.94 |
ASSURANT, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
ASSURANT, INC. trades at 16.4x trailing earnings, compared to its 15-year median P/E of 14.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.9x vs a median of 9.2x. The company's 5-year average ROIC is 14.5% with a gross margin of 6.9%. Total shareholder yield (dividends + buybacks) is 3.9%. At current prices, the estimated annualized return to fair value is +5.5%.
ASSURANT, INC. (AIZ) has a net profit margin of 6.8%. This is a modest margin.
ASSURANT, INC. (AIZ) generated $1.6 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ASSURANT, INC. (AIZ) has a debt-to-equity ratio of 0.38. This indicates a conservatively financed balance sheet.
ASSURANT, INC. (AIZ) reported earnings per share (EPS) of $16.93 in its most recent fiscal year.
ASSURANT, INC. (AIZ) has a return on equity (ROE) of 15.8%. This indicates the company generates strong returns for shareholders.
ASSURANT, INC. (AIZ) has a 5-year average gross margin of 6.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for ASSURANT, INC. (AIZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ASSURANT, INC. (AIZ) has a book value per share of $114.92, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects Global Lifestyle to lead enterprise growth in 2026, with Connected Living benefiting from continued optimization of new programs, expansion with existing clients, and contributions from recently announced programs and capabilities, while Global Automotive grows from higher investment income, continued loss improvement, and expanded global partnerships. Global Housing is anticipated to deliver solid underlying growth driven by higher tracked loans, new client wins, and the continued hardening of the voluntary homeowners market, though placement rates are expected to experience some quarterly fluctuations from client loan movements. The company is investing substantially in artificial intelligence and digital capabilities to transform operations, enhance customer experience, and drive personalization across all business lines, while maintaining disciplined capital deployment through share repurchases and organic investments in adjacent markets such as home warranty. Management remains focused on leveraging its differentiated B2B2C distribution model and integrated technology platforms to strengthen client partnerships and capture growth opportunities across specialized protection and insurance markets.
Based on recent SEC filings and earnings calls, ASSURANT, INC. (AIZ) has provided the following forward guidance: Adjusted EBITDA and Earnings Per Share growth: low single digits (FY2026); Adjusted EBITDA and Earnings Per Share growth (underlying, excluding prior year development): high single digit (FY2026); Global Lifestyle Adjusted EBITDA growth: approximately 10% (FY2026); Catastrophe reinsurance load assumption: $180 million (FY2026).