Investment Thesis
Assurant demonstrates solid operational performance with 7.9% revenue growth and improving earnings per share (+17.1% YoY), indicating successful capital management and operational leverage. Strong free cash flow generation of $1.6B (12.5% FCF margin) combined with a healthy debt/equity ratio of 0.38x and solid interest coverage of 9.9x provide financial stability. The 14.9% ROE reflects efficient use of shareholder capital, though modest net margin of 6.8% and low ROA of 2.4% warrant monitoring for improvement opportunities.
AIZN Strengths
- Revenue growth of 7.9% YoY with net income growth of 0.9% shows improving operational efficiency and earnings leverage
- Strong free cash flow generation of $1.6B with 12.5% FCF margin demonstrates the business model's cash conversion capability
- Conservative capital structure with debt/equity of 0.38x and strong interest coverage of 9.9x provides financial flexibility and low default risk
- Solid ROE of 14.9% indicates effective capital deployment and shareholder value creation
- Operating cash flow of $1.8B exceeds net income, suggesting quality earnings and minimal working capital pressures
AIZN Risks
- Net margin of 6.8% is modest for an insurance carrier, indicating competitive pressure or operational challenges in the underwriting business
- ROA of only 2.4% despite $36.3B in assets suggests low asset productivity or significant intangible asset depreciation risk
- EPS growth of 17.1% significantly outpaces net income growth of 0.9%, raising questions about share buyback sustainability and capital allocation strategy
- Elevated insider trading activity (10 Form 4 filings in 90 days) warrants monitoring for potential signaling of management confidence or concerns
Key Metrics to Watch
- Net margin expansion as percentage of growing revenue base
- Return on assets improvement and asset quality metrics
- Free cash flow sustainability and capital allocation decisions
- Combined ratio trends in insurance operations
- Debt/equity ratio maintenance and refinancing terms
AIZN Financial Metrics
AIZN Profitability Ratios
AIZN Balance Sheet & Liquidity
AIZN 5-Year Financial Trend
5-Year Trend Summary: ASSURANT, INC.'s revenue has grown significantly by 26% over the 5-year period, indicating strong business expansion. The most recent EPS of $11.95 reflects profitable operations.
AIZN Growth Metrics (YoY)
AIZN Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $3.0B | $133.8M | $2.55 |
| Q2 2025 | $2.9B | $188.7M | $3.58 |
| Q1 2025 | $2.9B | $146.6M | $2.83 |
| Q3 2024 | $2.8B | $133.8M | $2.55 |
| Q2 2024 | $2.7B | $156.3M | $2.90 |
| Q1 2024 | $2.6B | $113.6M | $2.12 |
| Q3 2023 | $2.5B | $7.3M | $0.14 |
| Q2 2023 | $2.5B | $52.2M | $0.95 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
AIZN Capital Allocation
AIZN SEC Filings
Access official SEC EDGAR filings for ASSURANT, INC. (CIK: 0001267238)