Assurant, Inc. 5.25% Subordinat (AIZN) 10-Year Financial Performance & Capital Metrics

AIZN • • Insurance & Managed Care

Financial ServicesDiversified InsuranceMulti-Line InsuranceRegional Multi-Line Insurers

AboutAssurant, Inc. engages in the provision of lifestyle and housing solutions for consumer purchases. It operates through the following segments: Global Lifestyle, Global Housing, and Corporate and Other. The Global Lifestyle segment offers mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances, vehicle protection, and related services. The Global Housing segment includes lender-placed homeowners’ insurance, lender-placed manufactured housing insurance, lender-placed flood insurance, renters' insurance, and related products, voluntary manufactured housing insurance, voluntary homeowners’ insurance and other specialty products. The Corporate and Other segment refers to the corporate employee-related expenses and activities of the holding company. The company was founded in 1892 and is headquartered in Atlanta, GA.Show more

Revenue $11.88B +6.7%
Combined Ratio 92.19% -0.6%
Net Income $760M +18.3%
Return on Equity 15.33% +7.8%
Medical Cost Ratio 23.29% +2.8%
Operating Margin 7.81% +7.7%
Net Margin 6.4% +10.9%
ROA 2.21% +15.0%
Equity / Assets 14.58% +2.0%
Book Value per Share 97.12 +8.6%
Tangible BV/Share 37.03 +28.5%
Debt/Equity 0.41 -5.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 92.2% combined ratio
✓Strong Piotroski F-Score: 7/9
✓20 consecutive years of dividend growth
✓Low loss ratio of 23.3%
✓Share count reduced 2.2% through buybacks
✓Trading at only 0.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.35%

5Y4.5%

3Y5.25%

TTM6.91%

Profit (Net Income) CAGR

10Y4.91%

5Y14.72%

3Y-17.66%

TTM14.49%

EPS CAGR

10Y8.42%

5Y18.69%

3Y12.34%

TTM17.19%

ROCE

10Y Avg4.52%

5Y Avg1.89%

3Y Avg2.05%

Latest2.7%

Peer Comparison

Regional Multi-Line Insurers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSHDGoosehead Insurance, Inc	1.8B	72.10	62.16	20.37%	8.55%	108.93%	3.93%	3.93
ORIOld Republic International Corporation	10.69B	43.32	13.37	13.41%	9.53%	12.95%	11.54%	0.28
HIGThe Hartford Financial Services Group, Inc.	36.49B	130.82	12.64	8.44%	12.84%	19.28%	15.8%	0.27
AIZNAssurant, Inc. 5.25% Subordinat	1.03B	20.17	1.39	6.7%	6.75%	14.74%	100%	0.41

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	10.31B	7.11B	6.31B	8B	9.53B	9.61B	10.19B	10.19B	11.13B	11.88B
Revenue Growth %	-0.01%	-0.31%	-0.11%	0.27%	0.19%	0.01%	0.06%	0%	0.09%	0.07%
Medical Costs & Claims+	0	0	3.21B	4.64B	5.62B	5.95B	6.04B	2.36B	2.52B	2.77B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	10.31B	7.11B	3.1B	3.36B	3.91B	3.66B	4.15B	7.83B	8.61B	9.11B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	1.3%	-0.31%	-0.56%	0.08%	0.16%	-0.06%	0.13%	0.89%	0.1%	0.06%
Operating Expenses+	10.12B	6.68B	2.66B	3.02B	3.45B	3.09B	3.38B	7.48B	7.8B	8.18B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	137.1M	86.49M	115.7M	126.9M	125.5M	142.3M	171.6M	182M	196.4M	223.5M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	256.3M	906.21M	444.5M	333.5M	454.7M	578.1M	771.3M	349.9M	806.8M	927.3M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.66%	2.54%	-0.51%	-0.25%	0.36%	0.27%	0.33%	-0.55%	1.31%	0.15%
EBITDA+	393.4M	992.7M	560.2M	460.4M	580.2M	720.4M	942.9M	531.9M	1B	1.15B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	55.12M	57.62M	49.5M	100.3M	110.6M	104.5M	111.8M	108.3M	108M	107M
Non-Operating Income	-256.3M	-906.2M	-49.5M	-100.3M	-110.6M	-104.5M	-111.8M	-108.3M	-108M	-107M
Pretax Income+	201.18M	848.59M	444.5M	333.5M	454.7M	578.1M	771.3M	349.9M	806.8M	927.3M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	59.63M	283.24M	-75.1M	80.9M	148.3M	58.7M	168.4M	73.3M	164.3M	167.1M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	141.56M	565.35M	519.6M	251M	382.6M	440.8M	1.36B	276.6M	642.5M	760.2M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.7%	2.99%	-0.08%	-0.52%	0.52%	0.15%	2.09%	-0.8%	1.32%	0.18%
EPS (Diluted)+	2.05	9.13	9.39	4.22	6.14	6.70	10.20	5.05	11.95	14.46
EPS Growth %	-0.68%	3.45%	0.03%	-0.55%	0.45%	0.09%	0.52%	-0.5%	1.37%	0.21%
EPS (Basic)	2.08	9.23	9.45	4.24	6.18	7.04	10.37	5.09	12.02	14.55
Diluted Shares Outstanding	69.02M	61.93M	55.31M	59.55M	62.31M	63.18M	60.12M	54.78M	53.78M	52.58M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	30.08B	29.71B	31.84B	41.09B	44.29B	44.65B	33.92B	33.12B	33.64B	35.02B
Asset Growth %	-0.05%	-0.01%	0.07%	0.29%	0.08%	0.01%	-0.24%	-0.02%	0.02%	0.04%
Total Investment Assets+	14.32B	12.51B	13.3B	16.34B	16.59B	8.22B	8.67B	7.52B	8.22B	8.54B
Long-Term Investments	11.22B	10.22B	746.5M	1.69B	15.13B	7.4B	7.91B	6.72B	7.39B	7.67B
Short-Term Investments	10.72B	9.8B	9.95B	11.63B	12.72B	7.11B	7.46B	6.44B	2.11B	2.38B
Total Current Assets+	2.55B	2.25B	2.23B	2.9B	0	0	0	0	0	0
Cash & Equivalents	1.29B	1.03B	996.8M	1.25B	1.87B	2.21B	2.04B	1.54B	1.63B	1.81B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-25.88B	-17.47B	-17.63B	-17.38B	-12.65B	-13.82B
Goodwill & Intangibles+	1.15B	1.1B	1.23B	5.48B	4.89B	4.44B	3.87B	3.5B	3.26B	3.16B
Goodwill	833.51M	830.9M	917.7M	2.32B	2.34B	2.59B	2.57B	2.6B	2.61B	2.62B
Intangible Assets	318.32M	272.4M	313M	3.16B	2.54B	1.85B	1.3B	901.7M	651M	543.6M
PP&E (Net)	298.41M	343.57M	347.6M	392.5M	433.7M	446.1M	561.4M	645.1M	685.8M	768.3M
Other Assets	11.91B	15.98B	17.25B	18.63B	-20.46B	-12.28B	-12.34B	-10.87B	-11.34B	-11.59B
Total Liabilities	25.55B	25.61B	27.56B	35.96B	38.61B	38.7B	28.46B	28.89B	28.83B	29.91B
Total Debt+	1.17B	1.07B	1.07B	2.01B	2.01B	2.25B	2.2B	2.13B	2.08B	2.08B
Net Debt	-116.92M	35.05M	71.4M	752M	139.8M	45.3M	161.7M	593.2M	453M	275.4M
Long-Term Debt	1.16B	1.07B	1.07B	2.01B	2.01B	2.25B	2.2B	1.91B	2.08B	2.08B
Short-Term Debt	0	48.06M	393.7M	105.5M	0	0	0	224.7M	0	0
Total Current Liabilities+	24.35B	24.54B	26.5B	33.97B	0	0	0	0	0	0
Accounts Payable	4.03B	3.4B	3.93B	3.14B	3.05B	1.97B	2.05B	2.7B	2.42B	3.41B
Deferred Revenue	0	-48.06M	-393.7M	-105.5M	0	0	0	0	0	0
Other Current Liabilities	2.66B	1.06B	957.8M	1.33B	-3.59B	-2.67B	-2.74B	-3.58B	-2.96B	-3.97B
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Liabilities	24.35B	0	26.49B	0	-2.01B	-2.25B	-2.2B	-1.91B	-2.08B	-2.08B
Total Equity+	4.52B	4.1B	4.28B	5.13B	5.68B	5.95B	5.46B	4.23B	4.81B	5.11B
Equity Growth %	-0.13%	-0.09%	0.04%	0.2%	0.11%	0.05%	-0.08%	-0.23%	0.14%	0.06%
Shareholders Equity	4.52B	4.1B	4.27B	5.11B	5.65B	5.95B	5.46B	4.23B	4.81B	5.11B
Minority Interest	0	0	10.9M	21.9M	29.3M	3.4M	0	0	0	0
Retained Earnings	4.41B	4B	4.04B	5.76B	5.97B	3.55B	4.04B	3.7B	4.03B	4.38B
Common Stock	1.5M	1.5M	1.5M	1.6M	1.6M	600K	700K	600K	600K	500K
Accumulated OCI	118.55M	94.6M	234M	-155.4M	411.5M	709.8M	-150M	-986.2M	-765M	-836.1M
Return on Equity (ROE)	0.03%	0.13%	0.12%	0.05%	0.07%	0.08%	0.24%	0.06%	0.14%	0.15%
Return on Assets (ROA)	0%	0.02%	0.02%	0.01%	0.01%	0.01%	0.03%	0.01%	0.02%	0.02%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.26x	0.26x	0.25x	0.39x	0.35x	0.38x	0.40x	0.50x	0.43x	0.41x
Book Value per Share	65.55	66.17	77.41	86.22	91.19	94.25	90.88	77.19	89.42	97.12
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	254.57M	134.53M	530.4M	656.7M	1.41B	1.34B	781.7M	596.9M	1.14B	1.33B
Operating CF Growth %	-0.35%	-0.47%	2.94%	0.24%	1.15%	-0.05%	-0.42%	-0.24%	0.91%	0.17%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	141.56M	565.35M	519.6M	251M	382.6M	441.8M	1.37B	276.6M	642.5M	760.2M
Depreciation & Amortization	137.1M	125.14M	115.7M	126.9M	125.8M	144.3M	171.6M	182M	196.4M	223.5M
Stock-Based Compensation	38.77M	41.61M	35.5M	57.1M	55.9M	57.9M	66.7M	62.6M	75.1M	81.1M
Deferred Taxes	88.66M	-182.89M	-4.2M	20.4M	89.5M	191.6M	131.7M	63.8M	-108.5M	244.9M
Other Non-Cash Items	152M	-574.59M	-233.2M	49.6M	130.7M	134.3M	-717.4M	230.2M	71.6M	24M
Working Capital Changes	-214.86M	-22.99M	97M	151.7M	628.9M	372.1M	-243.3M	-218.3M	261M	-1M
Cash from Investing+	264.29M	725.62M	-541.2M	-2.2B	-619.8M	-735.2M	157.6M	-262.1M	-637.7M	-657.8M
Capital Expenditures	-114.9M	-85.23M	-62.1M	-82.8M	-110.3M	-121.2M	-187.4M	-186.3M	-202.5M	-221.3M
Acquisitions	33.06M	810.68M	-129.1M	-1.05B	-7.6M	-531.9M	1.3B	-67.7M	-300K	-17.9M
Purchase of Investments	-3.16B	-4.56B	-4.34B	-6.32B	-4.34B	-2.59B	-3.2B	-3.2B	-2.29B	-2.48B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	207.87M	278.08M	-11.4M	-92.2M	-44M	58.5M	-256.1M	-39.2M	-32.8M	-16.5M
Cash from Financing+	-487.13M	-1.11B	-26.7M	1.84B	-179.2M	-264.8M	-1.09B	-818.4M	-403.9M	-477.5M
Dividends Paid	-94.17M	-125.35M	-119M	-148M	-170M	-173.3M	-162.3M	-150.2M	-152.3M	-155.9M
Share Repurchases	-292.9M	-863.1M	-388.9M	-139.3M	-271.8M	-297M	-839.3M	-572.8M	-193.1M	-307.4M
Stock Issued	0	0	0	276.4M	0	0	0	0	0	0
Debt Issuance (Net)	0	-1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	0
Other Financing	-100.06M	5.65M	30.4M	25M	27.1M	-37M	0	-19.5M	-6.7M	-14.2M
Net Change in Cash+	-30.35M	-256.33M	-35.2M	257.2M	613.1M	361.5M	-173.8M	-518.1M	90.7M	180.3M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K
Cash at Beginning	1.32B	1.29B	1.03B	996.8M	1.25B	1.87B	2.23B	2.05B	1.54B	1.63B
Cash at End	1.29B	1.03B	996.8M	1.25B	1.87B	2.23B	2.05B	1.54B	1.63B	1.81B
Free Cash Flow+	139.68M	49.29M	468.3M	573.9M	1.3B	1.22B	594.3M	410.6M	935.6M	1.11B
FCF Growth %	-0.55%	-0.65%	8.5%	0.23%	1.27%	-0.06%	-0.51%	-0.31%	1.28%	0.19%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	2.02	0.8	8.47	9.64	20.91	19.32	9.88	7.5	17.4	21.14

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	98.17%	94.02%	92.96%	95.83%	95.23%	93.98%	92.43%	96.57%	92.75%	92.19%
Medical Cost Ratio	0%	0%	50.87%	58.04%	59%	61.88%	59.27%	23.15%	22.65%	23.29%
Return on Equity (ROE)	2.92%	13.11%	12.4%	5.33%	7.07%	7.58%	23.85%	5.71%	14.22%	15.33%
Return on Assets (ROA)	0.46%	1.89%	1.69%	0.69%	0.9%	0.99%	3.47%	0.83%	1.93%	2.21%
Equity / Assets	15.04%	13.79%	13.45%	12.49%	12.83%	13.34%	16.11%	12.77%	14.3%	14.58%
Book Value / Share	65.55	66.17	77.41	86.22	91.19	94.25	90.88	77.19	89.42	97.12
Debt / Equity	0.26x	0.26x	0.25x	0.39x	0.35x	0.38x	0.40x	0.50x	0.43x	0.41x
Revenue Growth	-0.68%	-31.08%	-11.21%	26.77%	19.11%	0.85%	6%	0.05%	9.21%	6.7%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Global Lifestyle	-	3.82B	3.51B	5.37B	7.34B	7.53B	7.95B	6.83B	7.36B	9.32B
Global Lifestyle Growth	-	-	-8.08%	53.03%	36.71%	2.54%	5.54%	-14.08%	7.80%	26.64%
Global Housing	-	2.36B	2.25B	2.17B	2.13B	2.05B	2.08B	1.87B	2.01B	2.58B
Global Housing Growth	-	-	-4.70%	-3.58%	-1.89%	-3.70%	1.34%	-9.80%	7.50%	28.28%
Global Preneed	-	431.03M	443M	467.5M	486.2M	491.4M	-	-	-	-
Global Preneed Growth	-	-	2.78%	5.53%	4.00%	1.07%	-	-	-	-
Corporate and Other	98.69M	-	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	8.92B	6.24B	4.98B	6.22B	7.88B	8.03B	8.32B	8.39B	9.3B	9.82B
UNITED STATES Growth	-	-30.03%	-20.18%	24.82%	26.80%	1.88%	3.63%	0.76%	10.84%	5.59%
Foreign Tax Authority	1.41B	1.29B	1.43B	1.84B	2.2B	2.06B	1.86B	1.81B	1.84B	-
Foreign Tax Authority Growth	-	-8.21%	11.00%	28.34%	19.72%	-6.36%	-9.65%	-3.11%	1.63%	-

Frequently Asked Questions

Valuation & Price

Assurant, Inc. 5.25% Subordinat (AIZN) has a price-to-earnings (P/E) ratio of 1.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Assurant, Inc. 5.25% Subordinat (AIZN) grew revenue by 6.7% over the past year. This is steady growth.

Yes, Assurant, Inc. 5.25% Subordinat (AIZN) is profitable, generating $848.8M in net income for fiscal year 2024 (6.4% net margin).

Dividend & Returns

Yes, Assurant, Inc. 5.25% Subordinat (AIZN) pays a dividend with a yield of 14.70%. This makes it attractive for income-focused investors.

Assurant, Inc. 5.25% Subordinat (AIZN) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.

Industry Metrics

Assurant, Inc. 5.25% Subordinat (AIZN) has a combined ratio of 92.2%. A ratio below 100% indicates underwriting profitability.

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