The company maintains a stable capital position with $5.5 billion in equity against $7.1 billion in total liabilities as of 2026Q1, providing a substantial buffer for its insurance obligations.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Total Assets | 12.63B | 12.18B | 11.9B | 12.54B | 16.84B | 18.21B | 15.33B | 14.33B | 13.6B | 14.43B | 14.15B | 14.54B | 14.93B | 16.29B | 17.24B | 18.09B | 20.47B | 16.59B | 4.56B | 3.8B | 2.94B | 2.68B | 2.69B | 2.86B |
| Asset Growth % | 6.66% | 2.31% | -5.09% | -25.55% | -7.5% | 18.74% | 7.04% | 5.32% | -5.75% | 1.99% | -2.7% | -2.55% | -8.36% | -5.54% | -4.7% | -11.63% | 23.37% | 264.23% | 19.88% | 29.47% | 9.67% | -0.65% | -5.73% | - |
| Total Investment Assets | 4M | 8.7B | 8.81B | 9.44B | 16.58B | 19.11B | 10.13B | 20.69B | 11.44B | 12.1B | 11.87B | 12.53B | 12.85B | 13.44B | 13.91B | 11.57B | 11.32B | 11.3B | 3.78B | 3.14B | 2.47B | 2.25B | 2.14B | 2.19B |
| Long-Term Investments | 28.78B | 6.65B | 1.07B | 1.16B | 8.65B | 9.69B | 9.92B | 10.56B | 11.39B | 12B | 11.7B | 12.28B | 12.66B | 13.18B | 13.56B | 10.88B | 10.45B | 10.81B | 3.63B | 3.14B | 2.47B | 2.25B | 2.14B | 2.19B |
| Short-Term Investments | 6.88B | 2.05B | 2.34B | 7.97B | 7.93B | 9.43B | 9.62B | 10.12B | 10.82B | 11.3B | 10.82B | 11.02B | 11.26B | 10.62B | 10.87B | 734.05M | 1.03B | 1.67B | 477.2M | 552.94M | 134.06M | 115.83M | 175.84M | 137.52M |
| Total Current Assets | 1.85B | 4.46B | 0 | 0 | 9.59B | 11.72B | 0 | 12.32B | 12.32B | 11.75B | 10.94B | 11.53B | 11.29B | 10.77B | 11.2B | 11.44T | 10.69T | 10.6T | 510.93B | 560.99B | 138.85M | 125.02M | 192.81M | 471M |
| Cash & Equivalents | 312M | 388M | 121M | 97M | 107M | 120M | 162M | 169M | 104M | 144M | 118M | 166M | 75M | 184M | 138M | 214.54M | 107.18M | 44.1M | 12.3M | 8.05M | 4.79M | 6.19M | 16.98M | 32.37M |
| Receivables | 7.61B | 2.02B | 1.95B | 1.77B | 1.55B | 2.17B | 2.36B | 1.29B | 0 | 0 | 0 | 0 | 729M | 876M | 1.52B | 1.08T | 1.17T | 1.42T | 15.74M | 27.8M | 52.45M | 48.37M | 0 | 301.12M |
| Other Current Assets | -6.88B | 0 | -4.41B | -9.83B | 2.92B | 3.6B | -12.15B | 4.35B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.4B | 0 | 0 | 665.11M | 671.3M | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 567M | 192M | 176M | 6M | 163M | 175M | 203M | 216M | 129M | 101M | 106M | 114M | 121M | 124M | 116M | 0 | 0 | 0 | 85.42M | 85.42M | 85.42M | 85.42M | 85.42M | 87.06M |
| Goodwill | 0 | 0 | 0 | 0 | 117M | 117M | 117M | 117M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85.42M | 85.42M | 85.42M | 85.42M | 85.42M | 87.06M |
| Intangible Assets | 0 | 192M | 176M | 6M | 46M | 58M | 86M | 99M | 129M | 101M | 106M | 114M | 121M | 124M | 116M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 101M | 366M | 5.49B | 5.27B | 1.91B | 572M | 10.96B | -101M | -106M | -114M | -121M | -124M | -116M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1.87B | 876M | -1.35B | -1.53B | -114M | -195M | -12.04B | -254M | -11.39B | -12B | -11.7B | -12.28B | -12.66B | -13.18B | -13.56B | -10.88B | -10.45B | -10.81B | 81.7B | 82.19B | -2.47B | -2.25B | -2.14B | -2.28B |
| Total Liabilities | 7.07B | 6.39B | 6.35B | 6.77B | 11.55B | 11.71B | 8.63B | 7.67B | 7.05B | 7.59B | 7.65B | 8.48B | 9.17B | 11.17B | 12.25B | 13.37B | 16.67B | 13.07B | 2.63B | 2.13B | 1.28B | 1.01B | 1.17B | 1.42B |
| Total Debt | 1.71B | 1.7B | 1.7B | 1.69B | 6.99B | 1.67B | 1.22B | 1.24B | 1.23B | 1.29B | 1.31B | 1.3B | 1.3B | 816M | 836M | 1.04B | 1.05B | 1.07B | 347.21M | 197.41M | 197.38M | 197.34M | 197.36M | 75M |
| Net Debt | 1.39B | 1.32B | 1.58B | 1.6B | 6.88B | 1.55B | 1.06B | 1.07B | 1.13B | 1.15B | 1.19B | 1.13B | 1.23B | 632M | 698M | 823.76M | 945.76M | 1.02B | 334.91M | 189.36M | 192.59M | 191.15M | 180.38M | 42.63M |
| Long-Term Debt | 1.71B | 1.7B | 1.7B | 1.69B | 1.68B | 1.67B | 1.08B | 1.24B | 1.23B | 1.29B | 1.31B | 1.3B | 1.3B | 816M | 836M | 1.04B | 1.05T | 1.07B | 347.21M | 347.15M | 197.38M | 197.34M | 197.36M | 75M |
| Short-Term Debt | 0 | 0 | 13M | 16M | 23M | 0 | 145M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 3.93B | 0 | 0 | 297M | 928M | 0 | 1.08B | 1.18B | 61M | 64M | 51M | 5M | 44M | 219M | 170.98M | 93.02B | 186.7M | 18M | 635M | 7.2M | 0 | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 1M | 16M | 0 | 30M | 0 | 61M | 64M | 51M | 107M | 148M | 219M | 170.98M | 274.43M | 32.28M | 17.96M | 3.28M | 43.19M | 56.72M | 0 | 0 |
| Deferred Revenue | 0 | 3.63B | 3.72B | 0 | 0 | 43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 309M | -3.73B | -16M | 161M | 299M | -145M | 1.05B | 0 | -61M | -64M | -51M | -107M | -192M | -219M | -170.98M | 92.65B | -186.74M | -17.96M | 160.06M | -43.19M | -56.72M | -86.78M | -71.24M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 1000K | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 5.37B | 749M | 4.65B | 5.08B | 9.88B | -1.67B | -1.08B | 6.44B | 5.82B | 0 | 0 | 0 | 7.86B | 10.36B | 0 | -1.04B | -1.05T | -1.07B | -347.21M | 1.79B | 1.04B | -1.04B | -1.21B | -130.64M |
| Total Equity | 5.56B | 5.79B | 5.55B | 5.76B | 5.29B | 6.5B | 6.71B | 6.65B | 6.55B | 6.84B | 6.5B | 6.06B | 5.76B | 5.12B | 4.99B | 4.72B | 3.8B | 3.52B | 1.93B | 1.67B | 1.65B | 1.66B | 1.53B | 1.44B |
| Equity Growth % | 4.22% | 4.25% | -3.68% | 8.94% | -18.58% | -3.06% | 0.8% | 1.48% | -4.15% | 5.15% | 7.27% | 5.3% | 12.57% | 2.42% | 5.84% | 24.21% | 7.92% | 82.75% | 15.58% | 0.96% | -0.65% | 8.77% | 6.26% | - |
| Shareholders Equity | 5.54B | 5.66B | 5.5B | 5.71B | 5.06B | 6.29B | 6.64B | 6.64B | 6.55B | 6.84B | 6.5B | 6.06B | 5.76B | 5.12B | 4.99B | 4.72B | 3.8B | 3.52B | 1.93B | 1.67B | 1.65B | 1.66B | 1.53B | 1.44B |
| Minority Interest | 22M | 126M | 58M | 52M | 228M | 208M | 62M | 13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -400K | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 5.82B | 5.83B | 5.88B | 6.07B | 5.58B | 5.99B | 6.14B | 6.29B | 6.37B | 5.89B | 5.29B | 4.48B | 3.49B | 2.48B | 1.75B | 1.77B | 1.1B | 789.9M | 638.1M | 585.26M | 896.95M | 747.69M | 568.25M | 390.02M |
| Common Stock | 0 | 0 | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 2M | 2M | 2M | 1.82M | 1.84M | 1.8M | 900K | 799K | 675K | 748K | 757K | 16.4M |
| Accumulated OCI | -280M | -168M | -385M | -359M | -515M | 300M | 498M | 342M | 93M | 372M | 149M | 237M | 370M | 160M | 515M | 367.5M | 110.64M | 141.8M | 2.9M | 56.63M | 41.88M | 45.83M | 78.96M | 81.19M |
| Return on Equity (ROE) | 7.27% | 8.87% | 6.64% | 13.37% | 2.1% | 5.89% | 5.42% | 6.09% | 7.78% | 10.94% | 14.02% | 17.87% | 20.01% | 15.99% | 2.27% | 18.15% | 13.23% | 3.16% | 3.83% | -18.28% | 9.64% | 11.82% | 12.33% | 14.92% |
| Return on Assets (ROA) | 3.39% | 4.18% | 3.08% | 5.03% | 0.71% | 2.32% | 2.44% | 2.88% | 3.72% | 5.11% | 6.14% | 7.17% | 6.97% | 4.82% | 0.62% | 4.01% | 2.61% | 0.81% | 1.65% | -9% | 5.69% | 7.02% | 6.59% | 7.51% |
| Equity / Assets | 44.04% | 47.54% | 46.66% | 45.98% | 31.42% | 35.7% | 43.73% | 46.43% | 48.19% | 47.38% | 45.96% | 41.69% | 38.58% | 31.41% | 28.96% | 26.08% | 18.56% | 21.21% | 42.28% | 43.85% | 56.24% | 62.08% | 56.7% | 50.3% |
| Debt / Equity | 0.31x | 0.29x | 0.31x | 0.29x | 1.32x | 0.26x | 0.18x | 0.19x | 0.19x | 0.19x | 0.20x | 0.21x | 0.23x | 0.16x | 0.17x | 0.22x | 0.28x | 0.30x | 0.18x | 0.12x | 0.12x | 0.12x | 0.13x | 0.05x |
| Book Value per Share | 122.56 | 117.19 | 102.27 | 96.73 | 82.82 | 87.48 | 77.78 | 66.39 | 58.89 | 55.92 | 48.50 | 40.69 | 33.17 | 27.27 | 26.19 | 25.44 | 20.11 | 27.27 | 21.87 | 24.50 | 22.22 | 22.31 | 20.39 | 19.17 |
| Tangible BV per Share | 122.56 | 113.30 | 99.02 | 96.63 | 80.27 | 85.13 | 75.43 | 64.23 | 57.74 | 55.09 | 47.71 | 39.93 | 32.47 | 26.60 | 25.58 | 25.44 | 20.11 | 27.27 | 20.90 | 23.24 | 21.07 | 21.16 | 19.25 | 18.01 |
Municipal credit cycle volatility
According to the provided financial data, Assured Guaranty has maintained a resilient equity base, which stood at $5.5 billion in 2026Q1, reflecting a stable capital position despite the inherent volatility in total assets that fluctuated between $11.9 billion and $12.6 billion over the last ten quarters.
The relative stability of the equity base suggests that the company is successfully absorbing underwriting volatility without eroding its core capital cushion. Investors should monitor whether this capital preservation continues as the company navigates shifting municipal bond issuance environments.
As reported in financial statements, the company's loss reserve activity has been highly erratic, with quarterly claims and loss figures swinging from a $45.0 million expense in 2025Q1 to a $46.0 million benefit in 2024Q3, indicating significant sensitivity to underlying credit performance and actuarial adjustments.
These sharp fluctuations in loss provisions suggest that the company's balance sheet is subject to periodic, non-linear impacts from specific stressed sectors. This volatility warrants further investigation into the long-term adequacy of reserves against potential systemic shocks in the municipal and infrastructure debt markets.
Based on the reported figures, Assured Guaranty maintains a robust equity-to-liability ratio, with total liabilities of $7.1 billion against $5.5 billion in equity as of 2026Q1, providing a substantial buffer that supports the company's ongoing strategy of aggressive share repurchases and capital management.
The company's ability to maintain this capital structure while returning value to shareholders appears to indicate a high degree of confidence in its solvency profile. However, analysts should remain cautious regarding how future regulatory capital requirements might constrain this flexibility if credit spreads widen significantly.
As indicated by the provided data, the company's investment portfolio is reported at a static $1.0 million value, which appears to be a placeholder or reporting anomaly that obscures the true market value and duration risk of the underlying assets backing the insurance liabilities.
This lack of transparency regarding the investment portfolio's composition and valuation makes it difficult to assess the company's true interest rate sensitivity and credit risk exposure. Investors should monitor future disclosures for more granular data to determine if this represents a material risk to the balance sheet.
Quick answers to the most common questions about buying AGO stock.
As of 2025, Assured Guaranty Ltd. (AGO) had total assets of $12.18B including $4.46B in current assets.
Assured Guaranty Ltd. (AGO) carries total debt of $1.70B, offset by $2.43B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Assured Guaranty Ltd. (AGO) has total shareholders' equity (book value) of $5.66B ($117.19 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Assured Guaranty Ltd. (AGO) reported a current ratio of 1.13x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.