A Business at a Glance
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ALLSTATE CORP
ALL
$69.4B
Mkt Cap
$259.97
+2.14%
ALLSTATE CORP (ALL) has a current P/E ratio of 6.8, compared to its historical median P/E of 10.3. The stock is currently considered Fair based on its historical valuation range.
ALLSTATE CORP (ALL) has a 5-year average return on invested capital (ROIC) of 9.0%. This is below average and may indicate limited pricing power.
ALLSTATE CORP (ALL) has a market capitalization of $67.1B. It is classified as a large-cap stock.
Yes, ALLSTATE CORP (ALL) pays a dividend with a trailing twelve-month yield of 1.57%. The company also returns capital through share buybacks, with a buyback yield of 2.61%.
Based on historical P/E analysis, ALLSTATE CORP (ALL) appears fair. The current P/E of 6.8 is 33% below its historical median of 10.3. The estimated fair value CAGR (P/E method) is 2.0%.
ALLSTATE CORP (ALL) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
ALLSTATE CORP (ALL) reported annual revenue of $67.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Allstate Corporation is one of the largest personal lines property and casualty insurers in the United States and Canada, operating through its Allstate Insurance Company subsidiary and other business units. The company's core Allstate Protection segment offers private passenger auto, homeowners, other personal lines and commercial insurance through exclusive agents, independent agents, contact centers and online channels, generating 92.2% of consolidated insurance premiums. Beyond core property-liability insurance, Allstate expands its customer value proposition through Protection Services (including Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity and Allstate Identity Protection), Allstate Health and Benefits (voluntary benefits and individual life and health products), and a run-off property-liability segment. The company employs sophisticated pricing algorithms and underwriting methodologies informed by proprietary loss experience databases, telematics data and consumer information to accurately price risks across multiple segments while managing catastrophe exposure through reinsurance. Allstate's strategy centers on increasing personal property-liability market share through "Transformative Growth"—improving customer value via competitive pricing and differentiated products, expanding distribution access across multiple channels, investing in customer acquisition sophistication, deploying new technology ecosystems and driving organizational transformation. The company serves diverse customer segments through differentiated brands including Allstate, National General (acquired to enhance independent agency distribution) and Answer Financial, leveraging the widely recognized "You're In Good Hands With Allstate®" brand and enterprise capabilities including analytics, claims expertise and investment resources.
【Sustainable profitability with modest pricing】 Management expects to continue earning better-than-industry-average combined ratios in auto insurance while maintaining disciplined pricing strategies that balance growth with profitability targets. The company is implementing rate changes on a state-by-state basis, with Q1 2026 rate actions across 39 states reflecting a mix of increases and decreases as underlying loss experience has outperformed initial expectations, enabling more modest price increases to sustain attractive returns. Allstate expects to improve affordability to drive policies in force growth while maintaining combined ratio performance at or better than target levels, with the Property-Liability combined ratio benefiting from strong underlying performance and favorable reserve releases. The company remains focused on growing market share through Transformative Growth initiatives while managing the new business penalty associated with growth, and expects retention to improve as the book becomes better priced and margins strengthen, reducing the need for significant future rate increases.
No forward guidance provided.
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 | 68.2B | 67.7B | 64.1B | 57.1B | 51.4B | 50.6B |
| Net Income | 12.0B | 10.2B | 4.5B | -316M | -1.4B | 1.5B |
| EPS | $46.10 | $38.06 | $16.99 | $-1.20 | $-5.14 | $5.01 |
| Free Cash Flow | 11.5B | 9.9B | 8.7B | 4.0B | 4.7B | 4.8B |
| ROIC | 0.0% | 30.1% | 16.5% | -1.2% | -4.8% | 4.2% |
| Gross Margin | - | - | - | -0.6% | -3.6% | 12.8% |
| Debt/Equity | 0.24 | 0.24 | 0.38 | 0.45 | 0.46 | 0.32 |
| Dividends/Share | $4.08 | $4.00 | $3.68 | $3.56 | $3.40 | $3.24 |
| Operating Income | 0 | 13.2B | 5.8B | -348M | - | - |
| Operating Margin | 0.0% | 19.4% | 9.0% | -0.6% | - | - |
| ROE | 38.1% | 39.1% | 23.2% | -1.8% | -6.6% | 5.4% |
| Shares Outstanding | 258M | 267M | 268M | 263M | 271M | 299M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 35.2B | 35.7B | 37.4B | 39.4B | 39.8B | 41.5B | 41.9B | 50.6B | 51.4B | 57.1B | 64.1B | 67.7B | 68.2B |
| Gross Margin | 12.2% | 9.2% | 7.4% | 11.5% | 6.6% | 13.1% | 16.2% | 12.8% | -3.6% | -0.6% | N/A | N/A | 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 | 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 |
| EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -348M | 5.8B | 13.2B | 0 |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -0.6% | 9.0% | 19.4% | 0.0% |
| Net Income | 2.7B | 2.1B | 1.8B | 3.4B | 2.0B | 4.7B | 5.5B | 1.5B | -1.4B | -316M | 4.5B | 10.2B | 12.0B |
| Net Margin | 7.8% | 5.8% | 4.7% | 8.7% | 5.1% | 11.3% | 13.0% | 3.0% | -2.7% | -0.6% | 7.1% | 15.0% | 17.6% |
| Non-Recurring | 18M | 39M | 30M | 221M | 67M | 145M | 253M | 170M | 51M | 169M | 61M | 61M | 50M |
| Returns on Capital | |||||||||||||
| ROIC | 10.0% | 7.8% | 6.8% | 12.3% | 7.1% | 15.5% | 15.5% | 4.2% | -4.8% | -1.2% | 16.5% | 30.1% | 0.0% |
| ROE | 12.5% | 9.7% | 8.7% | 15.9% | 9.2% | 19.8% | 19.4% | 5.4% | -6.6% | -1.8% | 23.2% | 39.1% | 38.1% |
| ROA | 2.4% | 1.9% | 1.7% | 3.1% | 1.8% | 4.0% | 4.4% | 1.3% | -1.4% | -0.3% | 4.2% | 8.8% | 9.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 3.2B | 3.6B | 4.0B | 4.3B | 5.2B | 5.1B | 5.5B | 5.1B | 5.1B | 4.2B | 8.9B | 10.1B | 11.7B |
| Free Cash Flow | 2.9B | 3.3B | 3.7B | 4.0B | 4.9B | 4.7B | 5.2B | 4.8B | 4.7B | 4.0B | 8.7B | 9.9B | 11.5B |
| Owner Earnings | 3.0B | 3.3B | 3.7B | 3.8B | 4.6B | 4.6B | 4.9B | 4.2B | 4.3B | 3.5B | 8.2B | 9.5B | 9.3B |
| CapEx | 288M | 303M | 313M | 299M | 277M | 433M | 308M | 345M | 420M | 267M | 210M | 228M | 176M |
| Maint. CapEx | 228M | 255M | 299M | 389M | 404M | 452M | 471M | 787M | 688M | 672M | 596M | 490M | 2.3B |
| Growth CapEx | 60M | 48M | 14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 228M | 255M | 299M | 389M | 404M | 452M | 471M | 787M | 688M | 672M | 596M | 490M | 2.3B |
| CapEx/OCF | 8.9% | 8.4% | 7.8% | 6.9% | 5.4% | 8.4% | 5.6% | 6.7% | 8.2% | 6.3% | 2.4% | 2.3% | 1.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 477M | 483M | 486M | 525M | 614M | 653M | 668M | 885M | 926M | 925M | 962M | 1.0B | 1.1B |
| Dividend Yield | 2.4% | 2.3% | 2.4% | 2.0% | 2.2% | 2.3% | 2.4% | 2.7% | 2.9% | 3.1% | 2.1% | 2.0% | 1.6% |
| Share Buybacks | 2.3B | 2.8B | 1.3B | 1.5B | 2.3B | 1.7B | 1.7B | 3.1B | 2.5B | 335M | 2.0M | 1.2B | 1.7B |
| Buyback Yield | 9.4% | 13.7% | 5.8% | 4.7% | 9.4% | 5.4% | 5.8% | 9.8% | 7.4% | 0.9% | 0.0% | 2.2% | 2.6% |
| Stock-Based Comp | 32M | 46M | 30M | 106M | 125M | 105M | 124M | 120M | 93M | 73M | 125M | 123M | 123M |
| Debt Repayment | 1.0B | 20M | 17M | 0 | 400M | 317M | 0 | 436M | 0 | 750M | 350M | 600M | 600M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.9B | 2.5B | 1.6B | 3.8B | 3.0B | 2.1B | -286M | 3.2B | 3.1B | 2.1B | 2.8B | 1.9B | 2.1B |
| Cash & Equiv. | 657M | 495M | 436M | 617M | 425M | 273M | 311M | 763M | 736M | 722M | 704M | 678M | 5.4B |
| Long-Term Debt | 5.1B | 5.1B | 6.3B | 6.3B | 6.5B | 6.6B | 7.8B | 8.0B | 8.0B | 7.9B | 8.1B | 7.5B | 7.5B |
| Debt/Equity | 0.23 | 0.26 | 0.31 | 0.28 | 0.30 | 0.26 | 0.26 | 0.32 | 0.46 | 0.45 | 0.38 | 0.24 | 0.24 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -0.9 | 38.4 | 33.0 | 33.0 |
| Equity | 22.3B | 20.0B | 20.6B | 22.6B | 21.3B | 26.0B | 30.2B | 24.9B | 17.5B | 17.8B | 21.4B | 30.6B | 31.6B |
| Total Assets | 108.5B | 104.7B | 108.6B | 112.4B | 112.2B | 120.0B | 126.0B | 99.4B | 98.0B | 103.4B | 111.6B | 119.8B | 124.0B |
| Total Liabilities | 86.2B | 84.6B | 88.0B | 89.9B | 90.9B | 94.0B | 95.8B | 74.3B | 80.6B | 85.7B | 90.3B | 89.2B | 92.4B |
| Intangibles | N/A | N/A | N/A | 0 | 0 | 0 | 0 | 0 | 1.0B | 966M | 754M | 558M | 558M |
| Retained Earnings | 37.8B | 39.4B | 40.7B | 43.2B | 44.0B | 48.1B | 52.8B | 53.3B | 51.0B | 49.7B | 53.3B | 62.4B | 64.5B |
| 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 | 6.27 | 5.05 | 4.67 | 9.35 | 5.70 | 14.03 | 17.31 | 5.01 | -5.14 | -1.20 | 16.99 | 38.06 | 46.10 |
| Owner EPS | 6.80 | 8.15 | 9.72 | 10.39 | 13.16 | 13.71 | 15.52 | 14.06 | 16.00 | 13.23 | 30.66 | 35.56 | 35.95 |
| Book Value | 50.93 | 49.21 | 54.56 | 61.33 | 60.38 | 77.97 | 95.78 | 83.31 | 64.48 | 67.48 | 80.07 | 114.61 | 122.51 |
| Cash Flow/Share | 7.39 | 8.89 | 10.59 | 11.73 | 14.66 | 15.38 | 17.41 | 17.09 | 18.88 | 16.06 | 33.35 | 37.85 | 55.57 |
| Dividends/Share | 1.12 | 1.20 | 1.32 | 1.48 | 1.84 | 2.00 | 2.16 | 3.24 | 3.40 | 3.56 | 3.68 | 4.00 | 4.08 |
| Shares Out. | 438.0M | 406.9M | 377.1M | 367.7M | 353.0M | 333.4M | 315.5M | 299.4M | 271.2M | 263.3M | 267.8M | 267.1M | 258.0M |
| Valuation | |||||||||||||
| P/E Ratio | 8.9 | 10.0 | 13.0 | 9.3 | 12.2 | 6.9 | 5.5 | 21.4 | N/A | N/A | 11.2 | 5.5 | 5.6 |
| P/FCF | 8.3 | 6.2 | 6.2 | 8.0 | 5.0 | 6.9 | 5.8 | 6.7 | 7.3 | 8.9 | 5.8 | 5.6 | 5.8 |
| EV/EBIT | 5.9 | 6.6 | 8.4 | 7.5 | 9.8 | 5.6 | 4.3 | 11.3 | N/A | N/A | 8.8 | 4.3 | N/A |
| Price/Book | 1.1 | 1.0 | 1.1 | 1.4 | 1.2 | 1.2 | 1.0 | 1.3 | 2.0 | 2.0 | 2.4 | 1.8 | 2.1 |
| Price/Sales | 0.6 | 0.6 | 0.5 | 0.7 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | 0.5 | 0.7 | 0.8 | 1.0 |
| FCF Yield | 12.1% | 16.2% | 16.0% | 12.5% | 19.9% | 14.5% | 17.3% | 15.0% | 13.7% | 11.2% | 17.1% | 17.8% | 17.2% |
| Market Cap | 24.5B | 20.5B | 22.9B | 32.1B | 24.6B | 32.3B | 30.0B | 31.8B | 34.2B | 35.4B | 50.9B | 55.5B | 67.1B |
| Avg. Price | 46.18 | 52.39 | 54.43 | 72.63 | 79.66 | 85.96 | 86.99 | 109.57 | 117.32 | 113.39 | 168.96 | 198.03 | 259.97 |
| Year-End Price | 55.86 | 50.26 | 60.83 | 87.28 | 69.59 | 96.82 | 95.03 | 106.29 | 126.26 | 134.32 | 190.07 | 207.80 | 259.97 |
ALLSTATE CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
ALLSTATE CORP trades at 6.8x trailing earnings, compared to its 15-year median P/E of 10.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 6.8x vs a median of 6.5x. The company's 5-year average ROIC is 9.0% with a gross margin of 2.9%. Total shareholder yield (dividends + buybacks) is 4.2%. At current prices, the estimated annualized return to fair value is +12.3%.
ALLSTATE CORP (ALL) has a net profit margin of 15.0%. This is a healthy margin.
ALLSTATE CORP (ALL) generated $9.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ALLSTATE CORP (ALL) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
ALLSTATE CORP (ALL) reported earnings per share (EPS) of $38.06 in its most recent fiscal year.
ALLSTATE CORP (ALL) has a return on equity (ROE) of 39.1%. This indicates the company generates strong returns for shareholders.
ALLSTATE CORP (ALL) has a 5-year average gross margin of 2.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for ALLSTATE CORP (ALL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ALLSTATE CORP (ALL) has a book value per share of $114.61, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to continue earning better-than-industry-average combined ratios in auto insurance while maintaining disciplined pricing strategies that balance growth with profitability targets. The company is implementing rate changes on a state-by-state basis, with Q1 2026 rate actions across 39 states reflecting a mix of increases and decreases as underlying loss experience has outperformed initial expectations, enabling more modest price increases to sustain attractive returns. Allstate expects to improve affordability to drive policies in force growth while maintaining combined ratio performance at or better than target levels, with the Property-Liability combined ratio benefiting from strong underlying performance and favorable reserve releases. The company remains focused on growing market share through Transformative Growth initiatives while managing the new business penalty associated with growth, and expects retention to improve as the book becomes better priced and margins strengthen, reducing the need for significant future rate increases.