ALLSTATE CORP
$267.64
+0.95 (+0.36%) · delayed · Nov 13, 2026
Five-year price
52w $191.13 to $281.11
- Market cap
- $66.2B
- Enterprise value
- $73.0B
- P/E
- 7.0×
- 14.9× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 14.9%
- ROIC
- —
- Debt / equity
- 0.24
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
75
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- ○ROE > 15% (5y avg)5y avg ROE 10.7%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ●Earnings convert to cashFCF / net income 193% (5y avg)
- ●Growing revenueRevenue CAGR 5y 10.1%
- ●Shrinking share countDiluted shares -15.3% over 5y
Value
100
- ●P/E below 15P/E 7.0
- –EV/EBIT below 12EV/EBIT n/a
- ●FCF yield above 6%FCF yield 14.9%
- ●Price below Graham NumberGraham Number $325.47
- ●P/B below 3P/B 2.2
Safety
67
- ●Debt / equity below 0.5D/E 0.24
- ●Debt payable in < 4 yrs of earningsNet debt $6.8B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
67
- ●Adequate size (revenue > $2B)Revenue $67.7B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 173%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 14.9
- ○P/E × P/B ≤ 22.5Product 32.3
Valuation lab
What do you have to believe?
At $267.64, the market is pricing in about −7.8% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $6.8B · 247M shares · 5y revenue CAGR 10.1%
Intrinsic value
$1,082.51
Price
$267.64
Margin of safety
75%
What the price implies
The market is paying for −7.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
62% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 37,399 | 39,407 | 39,815 | 41,541 | 41,909 | 50,601 | 51,411 | 57,094 | 64,106 | 67,685 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Pre-tax income | — | — | — | — | — | — | — | (348) | 5,761 | 13,156 |
| Income tax | 877 | 995 | 468 | 1,116 | 1,373 | 1,292 | (488) | (135) | 1,162 | 2,890 |
| Net income | 1,877 | 3,554 | 2,160 | 4,847 | 5,576 | 1,614 | (1,289) | (188) | 4,667 | 10,282 |
| EPS (diluted) | 4.67 | 9.35 | 5.70 | 14.03 | 17.31 | 5.01 | -5.14 | -1.20 | 16.99 | 38.06 |
| Diluted shares | 377 | 368 | 353 | 334 | 316 | 299 | 271 | 263 | 268 | 267 |
Who owns it