Assurant vs Equitable
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KIRA’s take AI analyst
I put Assurant and Equitable side by side, using each one’s latest annual report. Here is what stands out:
- Assurant is the larger business, with $12.8B of revenue in fiscal 2025 against $11.7B for Equitable.
- Assurant grew revenue faster (7.9%, against −6.1%).
Who comes out ahead
Of the 4 measures where higher (or lower) is clearly better, how many each company leads.
Assurant
AIZ
3/4
Revenue growth5-year growthNet margin
Equitable
EQH
1/4
Share count change
Side by side
Best in the row
| Latest fiscal year | AIZ FY25 | EQH FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.2B | $14.7B |
| Revenue | $12.8B | $11.7B |
| Free cash flow | $1.6B | — |
| Net income | $873M | −$1.4B |
| Growth | ||
| Revenue growth | 7.9% | −6.1% |
| 5-year growth | 6.0% | −1.2% |
| Share count change | −1.9% | −8.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 6.8% | −11.8% |
| FCF margin | 12.5% | — |
| Return on capital | 17.5% | — |
| Return on equity | 15.9% | — |
| Balance sheet | ||
| Net debt | −$6.7M | −$8.6B |
| Net debt / EBITDA | 0.0x | — |
| Dividends and buybacks | $472M | $1.8B |
| Valuation & quality | ||
| P/E | 13.6x | — |
| Piotroski F-score | — | — |
Ten years
Revenue
FY16
AIZ $7.5B
EQH $11.8B
FY17
AIZ $6.4B
EQH $12.5B
FY18
AIZ $8.1B
EQH $12.1B
FY19
AIZ $9.6B
EQH $9.6B
FY20
AIZ $9.6B
EQH $12.4B
FY21
AIZ $10.2B
EQH $7.6B
FY22
AIZ $10.2B
EQH $12.6B
FY23
AIZ $11.1B
EQH $10.5B
FY24
AIZ $11.9B
EQH $12.4B
FY25
AIZ $12.8B
EQH $11.7B
AIZ
EQH
Operating margin
FY16
AIZ —
EQH —
FY17
AIZ —
EQH —
FY18
AIZ —
EQH —
FY19
AIZ —
EQH —
FY20
AIZ —
EQH —
FY21
AIZ —
EQH —
FY22
AIZ —
EQH —
FY23
AIZ —
EQH —
FY24
AIZ —
EQH —
FY25
AIZ —
EQH —
AIZ
EQH
Free cash flow
FY16
AIZ $23.4M
EQH —
FY17
AIZ $468M
EQH —
FY18
AIZ $574M
EQH —
FY19
AIZ $1.3B
EQH —
FY20
AIZ $1.2B
EQH —
FY21
AIZ $594M
EQH —
FY22
AIZ $411M
EQH —
FY23
AIZ $936M
EQH —
FY24
AIZ $1.1B
EQH —
FY25
AIZ $1.6B
EQH —
AIZ
EQH
Return on capital
FY16
AIZ 15.5%
EQH —
FY17
AIZ 12.4%
EQH —
FY18
AIZ 6.9%
EQH —
FY19
AIZ 7.0%
EQH —
FY20
AIZ 11.1%
EQH —
FY21
AIZ 12.5%
EQH —
FY22
AIZ 7.2%
EQH —
FY23
AIZ 15.1%
EQH —
FY24
AIZ 16.8%
EQH —
FY25
AIZ 17.5%
EQH —
AIZ
EQH
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.