ASSURANT, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ASSURANT, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	7,532	6,415	8,058	9,569	9,598	10,188	10,193	11,132	11,878	12,814
Selling, general and administrative	3,443	2,710	2,980	3,187	3,048	3,246
Interest expense	57.6	49.5	100	111	105	112	108	108	107	110
Pre-tax income	849	445	334	455	578	771	350	807	927	1,087
Income tax	283	-75.1	80.9	148	58.7	168	73.3	164	167	215
Income from continuing operations				302	519	603	277	643
Net income to minority interests	0	0	1.6	4.2	0.9	0	0
Net income	565	520	251	383	441	1,362	277	643	760	873
EPS, basic	9.23	9.45	4.00	5.87	7.02	22.95	5.09	12.02	14.55	17.14
EPS, diluted	9.13	9.39	3.98	5.84	6.98	22.66	5.05	11.95	14.46	16.93
Shares, basic (weighted)	61.3	55	59.2	61.9	60.1	59.1	54.4	52.9	51.7	50.5
Shares, diluted (weighted)	61.9	55.3	59.5	62.3	63.2	60.1	54.8	53.2	52.1	51.1
Dividend per share	2.03	2.15	2.28	2.43	2.55	2.66	2.74	2.82	2.96	3.28

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,032	997	1,254	1,867	2,208	2,041	1,537	1,627	1,808	1,834
Short-term investments			373	403
Property, plant and equipment	344	348	393	434	446	561	645	686	768	842
Lease right-of-use assets				69.5	67	47.7	29.6	23	54.1	59.2
Goodwill	831	918	2,322	2,205	2,589	2,572	2,603	2,609	2,616	2,646
Intangible assets	240	289	622	540	696	719	639	567	536	522
Total assets	29,709	31,843	41,089	44,291	44,650	33,921	33,117	33,635	35,021	36,290
Total liabilities	25,611	27,562	35,955	38,609	38,695	28,457	28,889	28,826	29,914	30,418
Total debt		1,068	2,006	2,007
Paid-in capital	3,176	3,198	4,496	4,538	1,957	1,695	1,638	1,669	1,687	1,712
Retained earnings	5,297	5,697	5,760	5,966	3,549	4,041	3,699	4,028	4,378	4,826
Treasury stock	-4,471	-4,860	-4,992	-5,267	-267	-123	-123	-123	-123	-123
Other comprehensive income	94.6	234	-155	412	710	-150	-986	-765	-836	-544
Shareholders' equity	4,098	4,271	5,112	5,653	5,951	5,464	4,229	4,810	5,107	5,872
Minority interests	0	10.9	21.9	29.3	3.4	0
Total equity	4,098	4,282	5,134	5,668	5,940	5,464	4,229	4,810	5,107	5,872
Total liabilities and equity	29,709	31,843	41,089	44,291	44,650	33,921	33,117	33,635	35,021	36,290
Shares outstanding	55.9	52.4	61.9	59.9	58	55.8	52.8	52	50.8	49.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	565	520	253	387	442	1,362	277	643	760	873
Depreciation and amortization	125	116	127	126	142	172	182	196	224	250
Stock-based compensation	41.6	35.5	57.1	55.9	57.9	66.7	62.6	75.1	81.1	85.7
Deferred income tax	25	-4.2	21.4	101	202	132	63.8	-109	245	101
Change in inventory	4.6	7.4
Change in payables	-62.8	-35.3
Cash from operations	109	530	657	1,413	1,342	782	597	1,138	1,333	1,834
Capital expenditures	-85.2	-62.1	-82.8	-110	-121	-187	-186	-203	-221	-236
Acquisitions	-63.2	-129	-1,111	-7.6	-459	-16.6	-72.5	-0.3	-12.9	-23.5
Purchases of investments	-4,260	-3,547	-4,374	-2,183	-1,504	-3,008	-3,060	-2,147	-2,287	-3,082
Sales and maturities of investments	739	832	821	541	805	971	484	280	564	807
Cash from investing	726	-541	-2,203	-620	-735	158	-262	-638	-658	-1,458
Debt issued	250	0	1,286	347	244	347	0
Debt repaid	-373	0	-350	-380	0	-420	-75.9	-225	0	-176
Share buybacks	-863	-389	-139	-272	-297	-839	-573	-193	-307	-304
Dividends paid	-125	-119	-134	-151	-155	-158	-150	-152	-156	-168
Cash from financing	-1,080	-26.7	1,838	-179	-265	-1,090	-818	-404	-478	-364
Exchange rate effect	-16.1	2.3	-35	-1.6	19.4	-23.5	-34.5	-5.8
Net change in cash	-256	-35.2	257	613	362	-174	-518	90.7	180	26.4
Free cash flow	23.4	468	574	1,303	1,221	594	411	936	1,111	1,598
Interest paid	56.2	48.1	79.5	103	104	110	109	107	107	107
Income taxes paid	226	18.8	93.9	93.1	98.5	221	128	233	127	272

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $265.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	9.9%	Pre-tax income / revenue.
Net margin	7.9%	Net income / revenue.
FCF margin	12.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.9%	Cash from operations / revenue.
Effective tax rate	19.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.9%	Net income / average total assets.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	14.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	46.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	14.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	17.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	49.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	19.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	37.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	45.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	43.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	57.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	5.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	15.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-0.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-4.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	83.1%	Total liabilities / total assets.
Goodwill and intangibles / assets	8.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.95B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	15.8x	Revenue / average property, plant and equipment.
FCF conversion	155.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$21.34	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$270.03	Revenue / diluted weighted shares.
FCF per share	$33.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$37.54	Cash from operations / diluted weighted shares.
Book value per share	$123.48	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$59.82	Tangible book value / shares outstanding.
Cash per share	$34.40	(Cash + short-term investments) / shares outstanding.
Payout ratio	16.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	10.7%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	22.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.07B	Share price x shares outstanding.
Enterprise value	$11.37B	Market cap + total debt - cash - short-term investments.
P/E	12.3x	Market cap / net income. Only when net income is positive.
P/S	0.97x	Market cap / revenue.
P/B	2.14x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.42x	Market cap / tangible book value, when positive.
P/FCF	7.89x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.99x	Market cap / cash from operations, when positive.
EV/Sales	0.85x	Enterprise value / revenue.
EV/FCF	6.87x	Enterprise value / free cash flow, when both are positive.
FCF yield	12.7%	Free cash flow / market cap.
Earnings yield	8.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.25x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ASSURANT, INC.'s revenue in fiscal 2025?

ASSURANT, INC. reported revenue of $12.81B for fiscal 2025, 7.9% higher than the year before.

Was ASSURANT, INC. profitable in fiscal 2025?

Yes. Net income was $872.7M, a net margin of 6.8%.

How much free cash flow did ASSURANT, INC. generate in fiscal 2025?

Cash from operations of $1.83B minus capital expenditures of $235.5M left free cash flow of $1.60B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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