American Financial Group vs Assurant
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The short version
- Assurant is the larger business, with $12.8B of revenue in fiscal 2025 against $8.2B for American Financial Group, about 1.6 times as much.
- Assurant grew revenue faster (7.9%, against −1.8%).
- Investors pay more for each dollar of Assurant’s earnings: a P/E of 13.6x against 13.2x for American Financial Group.
| Latest fiscal year | AFG · FY25 | AIZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.5B | $14.2B |
| Revenue | $8.2B | $12.8B |
| Free cash flow | — | $1.6B |
| Net income | $842M | $873M |
| Growth | ||
| Revenue growth | −1.8% | 7.9% |
| 5-year growth | 7.2% | 6.0% |
| Share count change | −0.5% | −1.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 13.1% | — |
| Net margin | 10.3% | 6.8% |
| FCF margin | — | 12.5% |
| Return on capital | 17.8% | 17.5% |
| Return on equity | 18.1% | 15.9% |
| Balance sheet | ||
| Net debt | $93.0M | −$6.7M |
| Net debt / EBITDA | 0.1x | 0.0x |
| Dividends and buybacks | $705M | $472M |
| Valuation & quality | ||
| P/E | 13.2x | 13.6x |
| Piotroski F-score | — | — |
FY16
AFG $6.5B
AIZ $7.5B
FY17
AFG $6.9B
AIZ $6.4B
FY18
AFG $7.2B
AIZ $8.1B
FY19
AFG $6.2B
AIZ $9.6B
FY20
AFG $5.8B
AIZ $9.6B
FY21
AFG $6.6B
AIZ $10.2B
FY22
AFG $7.0B
AIZ $10.2B
FY23
AFG $7.8B
AIZ $11.1B
FY24
AFG $8.3B
AIZ $11.9B
FY25
AFG $8.2B
AIZ $12.8B
AFG
AIZ
FY16
AFG 12.1%
AIZ —
FY17
AFG 10.6%
AIZ —
FY18
AFG 8.9%
AIZ —
FY19
AFG 10.2%
AIZ —
FY20
AFG 5.9%
AIZ —
FY21
AFG 20.4%
AIZ —
FY22
AFG 16.0%
AIZ —
FY23
AFG 13.7%
AIZ —
FY24
AFG 13.5%
AIZ —
FY25
AFG 13.1%
AIZ —
AFG
AIZ
FY16
AFG —
AIZ $23.4M
FY17
AFG —
AIZ $468M
FY18
AFG —
AIZ $574M
FY19
AFG —
AIZ $1.3B
FY20
AFG —
AIZ $1.2B
FY21
AFG —
AIZ $594M
FY22
AFG —
AIZ $411M
FY23
AFG —
AIZ $936M
FY24
AFG —
AIZ $1.1B
FY25
AFG —
AIZ $1.6B
AFG
AIZ
FY16
AFG —
AIZ 15.5%
FY17
AFG —
AIZ 12.4%
FY18
AFG —
AIZ 6.9%
FY19
AFG —
AIZ 7.0%
FY20
AFG —
AIZ 11.1%
FY21
AFG 19.9%
AIZ 12.5%
FY22
AFG 18.9%
AIZ 7.2%
FY23
AFG 18.6%
AIZ 15.1%
FY24
AFG 19.6%
AIZ 16.8%
FY25
AFG 17.8%
AIZ 17.5%
AFG
AIZ
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.