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ALL-PB

The Allstate Corporation

ALL-PB

The Allstate Corporation • NYSE
$26.10 ▼ -0.68% (-0.18)
Market Cap $54.40 B
52w High $27.00
52w Low $25.00
Dividend Yield 1.98%
P/E 2.17
Volume 12.79K
Outstanding Shares 2.08B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $17.061B ▲ $1.42B ▲ $3.746B ▲ 21.957% ▲ $14.13 ▲ $5.035B ▲
Q2-2025 $16.546B ▲ $1.33B ▼ $2.109B ▲ 12.746% ▲ $7.86 ▲ $2.93B ▲
Q1-2025 $16.263B ▼ $2.309B ▼ $595M ▼ 3.659% ▼ $2.142 ▼ $951M ▼
Q4-2024 $16.342B ▼ $2.47B ▲ $1.928B ▲ 11.798% ▲ $7.16 ▲ $2.701B ▲
Q3-2024 $16.497B $2.316B $1.19B 7.213% $4.39 $1.662B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.674B ▼ $120.402B ▲ $92.913B ▲ $27.505B ▲
Q2-2025 $10.635B ▲ $115.894B ▲ $91.889B ▼ $24.019B ▲
Q1-2025 $7.381B ▲ $115.161B ▲ $93.109B ▲ $22.055B ▲
Q4-2024 $5.241B ▼ $111.617B ▼ $90.25B ▼ $21.442B ▲
Q3-2024 $7.81B $113.743B $92.905B $20.877B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.041B ▼ $3.284B ▲ $-2.805B ▼ $-634M ▼ $-64M ▼ $3.236B ▲
Q2-2025 $2.195B ▲ $1.873B ▼ $-1.208B ▲ $-620M ▼ $155M ▲ $1.874B ▲
Q1-2025 $596M ▼ $1.964B ▲ $-1.293B ▲ $-334M ▼ $136M ▲ $1.872B ▲
Q4-2024 $1.886B ▲ $1.705B ▼ $-1.671B ▲ $-260M ▼ $-112M ▼ $1.655B ▼
Q3-2024 $1.164B $3.201B $-2.685B $-185M $217M $3.138B

Revenue by Products

Product Q2-2024Q4-2024Q1-2025Q2-2025
Allstate Health And Benefits
Allstate Health And Benefits
 $620.00M ▲$1.92Bn ▲$0 ▼$110.00M ▲
Property Liability
Property Liability
 $14.32Bn ▲$44.02Bn ▲$0 ▼$500.00M ▲
Protection Services
Protection Services
 $770.00M ▲$2.45Bn ▲$0 ▼$110.00M ▲
Property Liability and Casualty Insurance Product Line
Property Liability and Casualty Insurance Product Line
 $0 ▲$0 ▲$14.70Bn ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Allstate’s income statement shows a company that went through a rough patch and then executed a strong earnings turnaround. Revenue has climbed steadily over the last five years, reflecting growth in premiums and pricing. Profitability, however, was hit hard in the middle of the period, with losses tied to underwriting pressure, inflation in auto and property claims, and catastrophe events. The most recent year marks a sharp recovery: margins improved, operating profit rebounded, and net income swung back into solidly positive territory. In plain terms, Allstate moved from earning well, to struggling, and then back to strong profitability after resetting prices and underwriting standards. The key question going forward is whether this improved profit level is sustainable in what remains a volatile claims environment.

Balance Sheet

Balance Sheet The balance sheet reflects a large, established insurer with sizable investment portfolios and moderate use of debt. Total assets have been broadly stable over time, which is typical for a mature insurance group. Shareholder equity declined during the loss years as earnings pressure and market moves weighed on capital, but it has since rebuilt as profits returned. Debt levels have been fairly steady, suggesting no major shift in leverage or financial risk. Cash on hand looks small in isolation, but for an insurer that’s normal because most funds are held in investment securities rather than as idle cash. Overall, the balance sheet looks solid and conservative, but not immune to market swings in bond and equity values or to large catastrophe events that can dent capital.

Cash Flow

Cash Flow Cash flow paints a steadier picture than reported earnings. Operating cash flow has been consistently strong across the entire period, even in years when accounting profits were weak or negative. That reflects the nature of insurance, where cash comes in upfront as premiums and claims are paid out over time. Capital spending needs are modest, so free cash flow remains healthy and has strengthened further in the most recent year. In everyday terms, the business has continued to generate real cash even through difficult profit cycles, which supports its ability to invest, pay obligations, and return capital, as long as claims volatility and catastrophe exposure remain manageable.

Competitive Edge

Competitive Edge Allstate holds a strong competitive position as one of the major U.S. property and casualty insurers, backed by a well-known brand and the long-standing “good hands” identity. Its multi-channel distribution model—exclusive agents, independent agents, and direct online and phone channels—lets it reach a broad range of customers in ways many peers cannot fully match. At the same time, it faces intense competition from other big auto and home insurers that aggressively market on price and convenience. Regulatory oversight, especially around rate approvals, can also slow or limit its ability to react to rising claims costs. The combination of brand strength, broad distribution, and growing data capabilities gives Allstate meaningful advantages, but it operates in a crowded, price-sensitive, and highly regulated arena where mispricing risk and catastrophe exposure remain ongoing challenges.

Innovation and R&D

Innovation and R&D Allstate is investing heavily to reinvent itself as a tech- and data-driven insurer, which could be a key long-term differentiator. Its telematics programs, Drivewise and Milewise, along with its data and analytics arm Arity, provide a deep pool of driving and behavioral data that supports more precise underwriting, pricing, and risk selection. The company is embedding artificial intelligence in claims handling, fraud detection, customer service, and underwriting, while building its ALLIE AI ecosystem to connect these capabilities more tightly. Beyond traditional auto and home, Allstate is widening its “circle of protection” into areas like identity and scam protection, digital footprint security, and other modern risks. These initiatives could strengthen its moat and open new revenue streams, but they also carry execution risk: technology spending must translate into better customer value, lower costs, and stable loss ratios in a competitive market that is rapidly adopting similar tools.

Summary

Allstate’s recent story is one of navigating through a profitability downturn and emerging with stronger earnings and healthy cash generation. The core insurance engine remains large and resilient, supported by a solid balance sheet and steady free cash flow, though exposed to the usual industry risks such as severe weather, inflation in repair and medical costs, and regulatory friction on rate increases. Competitively, its trusted brand, broad distribution network, and growing capabilities in data, telematics, and AI position it well relative to peers, but the marketplace remains fierce and price-driven. Its ongoing transformation into a more technology-centric protection company—spanning auto, home, digital identity, and beyond—creates clear growth and efficiency opportunities alongside the risk that heavy investment may not fully pay off. Overall, Allstate looks like a mature insurer actively trying to reinvent itself, with improved recent performance but still subject to the inherent volatility and uncertainty of property and casualty insurance.