Allstate Corp

Finance
Property-Casualty Insurers
www.allstate.com

Earnings Score
Safety Score

Market Cap $52.93B
PE 13
Debt $8.08B
Cash $816.00M
EV $60.19B
FCF $8.22B

Earnings

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Sales & Net Margins

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Earnings	$4.11B
ROE	20%
FCF	$8.22B
Equity	$20.88B
Growth Stability	-37%
PE	12.87
PEG	-2.21
PB	2.54
P/FCF	6.44
P/S	0.85
Price/Cash	0.02
Debt/Equity	0.39
Debt/FCF	0.98
Net Margins	6%
Earnings CAGR	1%
Sales Growth YoY	15%
Sales Growth QoQ	6%
Sales CAGR	6%
FCF CAGR	4%
Equity CAGR	-1%
Earnings Stability	0.01
Earnings Growth YoY	-3K%
Earnings Growth QoQ	286%

Earnings CAGR 5Y	-6%
Sales CAGR 5Y	7%
FCF CAGR 5Y	1%
Equity CAGR 5Y	-11%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	16%
Equity CAGR 3Y	-7%
Market Cap	$52.93B
Revenue	$62.43B
Dividend Yield	2%
Payout Ratio	23%
Assets	$113.74B
Total Debt	$8.08B
Cash	$816.00M
Shares Outstanding	264.04M
EV	60.19B
Earnings Score	6%
Safety Score	65%
Shares Growth 3y	-1%
Equity Growth QoQ	12%
Equity Growth YoY	43%

Assets & ROA

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Stockholders Equity & ROE

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The Allstate Corporation is an American insurance company, headquartered in Glenview, Illinois (with a Northbrook, Illinois address) since 2022. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993, but was still partially owned by Sears until it became an independent company completely in June 1995. The company also has personal lines insurance operations in Canada. Allstate is a large corporation, and with 2018 revenues of $39.8 billion, it ranked 79th in the 2019 Fortune 500 list of the largest United States corporations by total revenue. Its long-running advertising campaign, in use since 1950, asks, 'Are you in good hands?', and the recognizable logo portrays a suburban-style dwelling cradled protectively in a pair of giant human hands.

SEC Filings

Direct access to Allstate Corp (ALL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Allstate Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Allstate Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 1%

Stability 1%

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Allstate Corp Discounted Cash Flow

Fully customizable DCF calculator online for Allstate Corp.

Years

Calculation mode

= $111B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$8.2B	$8.6B	$9B	$9.4B	$9.8B	$10B	$11B	$11B	$12B	$12B	$13B	$127B
DCF		$7.8B	$7.4B	$7B	$6.7B	$6.3B	$6B	$5.7B	$5.4B	$5.2B	$4.9B	$49B
Value	$111B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	8%	6%	5%	8%	5%	10%	12%	3%	-3%	-1%	6%
ROA	-	-	-	-	-	-	-	-	-	-	-
ROE	-	10%	9%	14%	10%	18%	18%	6%	-8%	-2%	20%

Bad Net Margins (5.57%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	1.56	1.74	1.6	1.33	1.42	1.52	1.67	1.7	2.02	0.98
Debt over Equity	0.23	0.26	0.31	0.28	0.31	0.26	0.26	0.32	0.46	0.45	0.39
Growth Stability	-	-	-	100%	92%	100%	100%	36%	-37%	-17%	-37%

Good Debt/FCF ratio (0.98)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.39)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-37%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	1%	2%	5%	3%	12%	0%	13%	2%	11%	7%
Earnings YoY growth	-	-25%	-14%	75%	-32%	122%	17%	-73%	-195%	-78%	-6%
Equity YoY growth	-	-10%	3%	10%	-5%	22%	16%	-17%	-31%	2%	-11%
FCF YoY growth	-	12%	11%	9%	22%	-4%	10%	-8%	-1%	-16%	1%