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ALL-PH

The Allstate Corporation

ALL-PH

The Allstate Corporation • NYSE
$21.20 ▼ -0.84% (-0.18)
Market Cap $52.74 B
52w High $23.38
52w Low $19.37
Dividend Yield 1.27%
P/E 3.38
Volume 46.14K
Outstanding Shares 2.49B

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 Q2-2024Q3-2024Q4-2024Q1-2025
Property Liability and Casualty Insurance Product Line
Property Liability and Casualty Insurance Product Line
 $0 ▲$0 ▲$0 ▲$14.70Bn ▲
Allstate Health And Benefits
Allstate Health And Benefits
 $620.00M ▲$630.00M ▲$650.00M ▲$0 ▼
Property Liability
Property Liability
 $14.32Bn ▲$15.15Bn ▲$15.00Bn ▼$0 ▼
Protection Services
Protection Services
 $770.00M ▲$830.00M ▲$870.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Allstate’s revenue has grown steadily over the last several years, suggesting it is still winning and retaining a lot of customers. The more important story, though, is profitability: underwriting results were weak and even loss-making in the middle of this period, then turned sharply higher most recently. That pattern points to a classic property‑casualty cycle: higher claim costs and catastrophe losses squeezed margins, and it has taken time to reprice policies and tighten underwriting. The latest year shows a strong recovery in operating and net income, indicating that recent price increases and underwriting actions are gaining traction. The key watchpoint is sustainability. The rebound in profit looks strong, but the recent history of losses shows earnings can be quite sensitive to storms, inflation in repair costs, and competitive pricing pressure. Investors often focus less on a single strong year, and more on whether Allstate can hold more stable, healthy margins across a full cycle.

Balance Sheet

Balance Sheet Allstate’s balance sheet shows a large, diversified asset base typical of a major insurer and only modest movement over the period. Debt levels have stayed fairly stable, which suggests the company has not relied heavily on borrowing to navigate recent challenges. Shareholders’ equity dipped earlier in the period and has been rebuilding more recently, but it remains below its earlier peak. That pattern likely reflects a mix of underwriting pressure, catastrophe losses, and swings in the value of the investment portfolio as interest rates moved. The recent rebuilding of equity is a positive sign for financial strength. Overall, the balance sheet looks solid but not bulletproof. Allstate has meaningful capacity to absorb risk, yet its capital cushion has been thinner than in the past, so ongoing discipline in underwriting and investment risk remains important.

Cash Flow

Cash Flow Cash generation has been a relative bright spot. Allstate produced positive operating cash flow throughout the period, even in years when reported earnings were weak or negative. That is common in insurance, but the consistency here is still reassuring. Capital spending has been modest, so most operating cash has flowed through to free cash flow. Free cash flow improved notably in the most recent year, in line with the earnings turnaround, suggesting the company again has strong internal resources to fund growth initiatives, technology investment, and shareholder returns. The main risk is that unusually severe catastrophe years or adverse reserve developments could pressure cash in the future. For now, though, the cash profile looks healthy and supports the view that recent earnings improvements are backed by real cash, not just accounting.

Competitive Edge

Competitive Edge Allstate holds a strong position in U.S. personal property and casualty insurance. Its brand is widely recognized and associated with trust and reliability, which matters in a product where customers largely buy peace of mind. The company’s multi‑channel distribution—exclusive agents, independent agents, and direct digital channels—gives it broad reach and flexibility as customer preferences shift. Scale and data are important advantages. Allstate insures a very large number of drivers and homeowners, and through its Arity subsidiary it collects vast amounts of driving and behavior data. This can support more accurate pricing and risk selection, which smaller rivals may struggle to match. That said, the market is highly competitive, with aggressive national peers, regional specialists, and new digital‑only players. Regulation limits how quickly insurers can raise prices, and customers can switch carriers if they see better deals. Allstate appears to have a moderate but not unassailable moat: strong advantages, but constant competitive and regulatory pressure.

Innovation and R&D

Innovation and R&D Allstate is leaning heavily into technology and data as core differentiators. Arity provides a powerful data engine using telematics and mobility analytics, giving Allstate deep insight into driving behavior and risk. This data is used both internally and as a product sold to third parties, turning a cost center into a potential growth platform. Programs like Drivewise and Milewise show a clear push toward usage‑based and mobile‑first insurance, where pricing reflects how and how much people actually drive. This can attract safer or low‑mileage drivers and improve risk selection. Meanwhile, AI and machine learning are being woven into underwriting, pricing, claims handling, and customer service to speed up decisions and personalize products. Beyond core auto and home, Allstate is expanding into services like identity protection and investing in climate‑related technologies through its venture arm. These moves aim to reposition the company as a broader protection provider and to prepare for long‑term risks such as climate change. However, there are real execution risks: integrating AI at scale, managing data privacy and legal challenges around Arity, and proving that “Transformative Growth” initiatives translate into durable profit, not just short‑term buzz.

Summary

Allstate’s recent financial story is one of recovery after a difficult stretch. Revenues have climbed steadily, while profitability went through a rough patch and then rebounded sharply in the latest year. The turnaround suggests that pricing and underwriting changes are starting to work, but the earlier losses underline how exposed results can be to claims inflation and severe weather. The balance sheet appears solid with steady debt levels and recovering equity, and cash flow has remained consistently positive, even in weaker years. That combination indicates a business with good underlying financial resilience, provided it maintains discipline on risk and capital. Competitively, Allstate benefits from a powerful brand, large scale, and rich data, which together form a meaningful—though not impregnable—moat in a crowded, regulated market. Its push into telematics, AI, usage‑based products, and identity protection shows a clear intent to differentiate through technology and broaden its role beyond traditional insurance. Key uncertainties to monitor include: how well Allstate can sustain improved underwriting margins across a full cycle; the impact of climate‑driven catastrophes; regulatory and privacy risks around data use; and whether its “Transformative Growth” and technology investments yield enduring advantages. The overall picture is of a major insurer emerging from a tough period with renewed momentum, but still facing structurally high volatility and execution risk.