NYSE · Financial Services

The Allstate Corporation

ALL · Insurance - Property & Casualty

$221.17

▼ -0.49 (-0.22%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

B⤢

Net Income Margin 14.7%

Fin. Health

D⤢

Years to Pay Off Debt 3.0 yrs

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 1.92x

Cash Flow

A⤢

Free Cash Flow $3.5B

CapEx % of Net Income 1.6%

Owner Earnings $2.6B

Cash Flow

Free Cash Flow $3.5B

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 1.6%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $2.6B

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About The Allstate Corporation

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in four segments: Allstate Protection; Run-off Property-Liability; Protection Services; and Corporate and Other. The company offers private passenger auto, homeowners, other personal lines and commercial insurance through exclusive agents, independent agents, contact centers and online under the Allstate, National General, Direct Auto and Answer Financial brands. It also provides consumer product protection plans, device and mobile data collection services, and analytic solutions using automotive telematics information, roadside assistance, and protection plans; and insurance products, such as identity protection and restoration. In addition, the company offers property and casualty insurance, as well as engages in company activities and certain non-insurance operations, including expenses associated with strategic initiatives. Further, it offers automotive protection; vehicle service contracts, guaranteed asset protection, road hazard tires and wheels, and paintless dent repair protection; and roadside assistance, mobility data collection services, and analytic solutions using automotive telematics information, identity theft protection, and remediation services. The Allstate Corporation was founded in 1931 and is headquartered in Northbrook, Illinois.

Metric Explanations

What each dimension measures and where the thresholds come from.

Market Data

Market Cap $56.9B

Enterprise Value $61.5B

P/E (TTM) 4.89

Dividend Yield 1.84%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 14.7%

Company Info

Sector Financial Services

Industry Insurance - Property & Casualty

Employees 53000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering The Allstate Corporation at $221.17.

The business passes only 3 of 6 of Graham's defensive criteria — well below his required standard.

At $221.17, the stock trades at a 43% premium to its Graham Number of $154.71. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Gross Profit %	N/A•	N/A•	N/A
Operating Margin %	N/A•	N/A•	N/A
Net Income %	14.7%▼	22.3%•	N/A
Diluted EPS	9.25▼	14.37•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$124.0B	$119.8B	N/A
Total Debt	$7.5B▲	$7.5B•	N/A
Working Capital	N/A•	N/A•	N/A
Years to Pay Debt	3.05	1.95	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$3.5B▲	$2.9B•	N/A
Owner Earnings	$2.6B	$4.0B	N/A
CapEx % of Net Income	1.6%	2.3%	N/A

Income Statement

	2026	2025	2024
Tax Effect Of Unusual Items	-1,046	-4,427
Tax Rate For Calcs	0	0
Total Unusual Items	-5,000	-20,000
Total Unusual Items Excluding Goodwill	-5,000	-20,000
Net Income From Continuing Operation Net Minority Interest	2,457,000	3,832,000
Reconciled Depreciation	101,000	108,000
EBIT	3,206,000	5,013,000
Net Interest Income	-98,000	-98,000
Interest Expense	98,000	98,000
Normalized Income	2,460,954	3,847,573
Net Income From Continuing And Discontinued Operation	2,457,000	3,832,000
Total Expenses	13,643,000	12,284,000
Diluted Average Shares	262,600	264,700
Basic Average Shares	259,400	261,300
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	2,428,000	3,803,000
Net Income Common Stockholders	2,428,000	3,803,000
Preferred Stock Dividends	29,000	29,000
Net Income	2,457,000	3,832,000
Minority Interests	-1,000	5,000
Net Income Including Noncontrolling Interests	2,458,000	3,827,000
Net Income Continuous Operations	2,458,000	3,827,000
Tax Provision	650,000	1,088,000
Pretax Income	3,108,000	4,915,000
Other Income Expense	719,000	755,000
Special Income Charges	-5,000	-20,000
Other Special Charges		7,000
Restructuring And Mergern Acquisition	5,000	13,000
Net Non Operating Interest Income Expense	-98,000	-98,000
Interest Expense Non Operating	98,000	98,000
Other Operating Expenses	2,225,000	2,332,000
Depreciation And Amortization In Income Statement	47,000	56,000
Amortization	47,000	56,000
Selling General And Administration	19,000	-5,000
General And Administrative Expense	19,000	-5,000	-52,000
Salaries And Wages	19,000	-5,000
Total Revenue	16,751,000	17,199,000
Operating Revenue	16,751,000	17,199,000
Loss Adjustment Expense	9,261,000	7,804,000
Net Policyholder Benefits And Claims	9,261,000	7,804,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	642,000	640,000
Preferred Shares Number	82,000	82,000
Ordinary Shares Number	257,800	260,136
Share Issued	899,800	900,136
Net Debt	6,794,000	6,812,000
Total Debt	7,491,000	7,490,000
Tangible Book Value	26,488,000	24,933,000
Invested Capital	37,097,000	36,099,000
Net Tangible Assets	28,489,000	26,934,000
Common Stock Equity	29,606,000	28,609,000
Preferred Stock Equity	2,001,000	2,001,000
Total Capitalization	39,098,000
Total Equity Gross Minority Interest	31,587,000	30,589,000
Minority Interest	-20,000	-21,000
Stockholders Equity	31,607,000	30,610,000
Gains Losses Not Affecting Retained Earnings	-292,000	255,000
Other Equity Adjustments	-219,000	299,000
Foreign Currency Translation Adjustments	-83,000	-55,000
Minimum Pension Liabilities	10,000	11,000
Treasury Stock	38,820,000	38,206,000
Retained Earnings	64,540,000	62,393,000
Additional Paid In Capital	4,169,000	4,158,000
Capital Stock	2,010,000	2,010,000
Common Stock	9,000	9,000
Preferred Stock	2,001,000	2,001,000
Total Liabilities Net Minority Interest	92,385,000	89,169,000
Non Current Deferred Liabilities		227,000
Non Current Deferred Taxes Liabilities		227,000
Long Term Debt And Capital Lease Obligation	7,491,000	6,940,000
Long Term Debt	7,491,000	6,940,000
Current Debt And Capital Lease Obligation		550,000	600,000
Current Debt		550,000	600,000
Current Notes Payable		550,000	600,000
Total Assets	123,972,000	119,758,000
Investments And Advances	83,142,000	81,244,000
Long Term Equity Investment	8,946,000	8,844,000
Investments In Other Ventures Under Equity Method	8,946,000	8,844,000
Goodwill And Other Intangible Assets	3,118,000	3,676,000
Other Intangible Assets		558,000	754,000
Goodwill	3,118,000	3,118,000
Net PPE	606,000	627,000
Receivables	20,070,000	19,975,000
Loans Receivable	520,000	473,000
Accounts Receivable	20,070,000	19,975,000
Cash Cash Equivalents And Short Term Investments	5,402,000	5,565,000
Other Short Term Investments	4,705,000	4,887,000
Cash And Cash Equivalents	697,000	678,000

Cash Flow

	2026	2025	2024
Free Cash Flow	3,522,000	2,900,000
Repurchase Of Capital Stock	-614,000	-434,000
Repayment Of Debt		-600,000	0
Capital Expenditure	-40,000	-89,000	-50,000
End Cash Position	697,000	678,000
Other Cash Adjustment Outside Changein Cash	0
Beginning Cash Position	678,000	931,000
Changes In Cash	19,000	-253,000
Financing Cash Flow	-916,000	-1,293,000
Cash Flow From Continuing Financing Activities	-916,000	-1,293,000
Net Other Financing Charges	-4,000	23,000
Proceeds From Stock Option Exercised	-8,000	10,000
Cash Dividends Paid	-290,000	-292,000
Preferred Stock Dividend Paid	-29,000	-29,000
Common Stock Dividend Paid	-261,000	-263,000
Net Common Stock Issuance	-614,000	-434,000
Common Stock Payments	-614,000	-434,000
Long Term Debt Payments		-600,000	0
Investing Cash Flow	-2,627,000	-1,949,000
Cash Flow From Continuing Investing Activities	-2,627,000	-1,949,000
Net Investment Purchase And Sale	-2,557,000	-1,906,000
Sale Of Investment	26,005,000	17,092,000
Purchase Of Investment	-28,562,000	-18,998,000
Net Business Purchase And Sale	-40,000	108,000
Sale Of Business	346,000	416,000
Purchase Of Business	-386,000	-308,000
Net PPE Purchase And Sale	-40,000	-89,000
Purchase Of PPE	-40,000	-89,000
Operating Cash Flow	3,562,000	2,989,000
Cash Flow From Continuing Operating Activities	3,562,000	2,989,000
Change In Working Capital	579,000	-875,000
Change In Other Working Capital	520,000	51,000
Change In Receivables	-112,000	1,306,000
Changes In Account Receivables	-112,000	1,306,000
Depreciation And Amortization	101,000	108,000
Depreciation	101,000	108,000
Operating Gains Losses	418,000	-69,000
Pension And Employee Benefit Expense	19,000	-5,000
Earnings Losses From Equity Investments	16,000	-6,000
Gain Loss On Investment Securities	383,000	-65,000
Gain Loss On Sale Of Business		7,000
Net Income From Continuing Operations	2,458,000	3,827,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $16.3B ▲ $16.8B +3.0%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Net Margin

Prior year: 3.7% ▲ 14.7% +11.0pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$16.8B/qtr (≈$67.0B ann.)

vs > $1.5B annualised revenue

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$3.5B

vs Positive

Operating Cash Flow

$3.6B

Latest quarter · Buffett's cash reality check

ROIC

N/A

Based on latest annual operating income

Market Cap / Net Assets

1.8x

Net Assets: $31.6B

Peers & Industry

No auto-detected peers for Insurance - Property & Casualty. You can manually compare ALL against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.50%

Low — management has little skin in the game

Return on Equity (ROE)

8.3%

Adequate — returns are moderate

Return on Assets (ROA)

2.0%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$1.2B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+0.0% YoY

Debt is roughly stable

Leadership Team

Thomas Joseph Wilson II

Chairman of the Board, President & CEO

Age 67

Pay: $7,504,271

0.305% of net income

John Edward Dugenske ,

Interim CFO and President of Investments & Corporate Strategy

Age 58

Pay: $3,601,897

0.147% of net income

Mario Rizzo CPA

Executive VP & COO

Age 57

Pay: $3,134,536

0.128% of net income

Jesse Edward Merten

Executive VP & President of Property-Liability

Age 50

Pay: $3,155,733

0.128% of net income

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	8.50%	21,889,106
Vanguard Capital Management LLC	6.56%	16,879,864
Vanguard Portfolio Management LLC	5.30%	13,649,711
State Street Corporation	4.76%	12,259,933
Price (T.Rowe) Associates Inc	4.20%	10,811,211
Franklin Resources, Inc.	3.12%	8,022,317
Bank of America Corporation	3.07%	7,913,320
Geode Capital Management, LLC	2.82%	7,258,398

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.19

Low volatility — more stable than the market

Short Interest

0.0% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.24x

Conservative balance sheet — low financial risk

Current Ratio

0.36x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $188.08 Current: $221.17 High: $227.62

Currently at 84% of 52-week range