AFG vs AIZ: American Financial and Assurant compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Assurant is the larger company, worth $13.9B, close to American Financial's $11.9B.
- Assurant grew revenue faster over the last year (+9.4% vs +5.5%).
- American Financial keeps more of each dollar of revenue as operating profit (14.5% vs 9.9%).
- On earnings, American Financial is the cheaper stock (13.6x vs 14.3x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AFG | AIZ |
|---|---|---|
| Market cap | $11.9B | $13.9B |
| Share price | $141.08 | $266.49 |
| Revenue (last fiscal year) | $8.2B | $12.8B |
| Free cash flow (last fiscal year) | — | $1.6B |
| Revenue growth, last year | +5.5% | +9.4% |
| Revenue growth per year, last 5 fiscal years | +5.7% | +5.9% |
| Operating margin | 14.5% | 9.9% |
| Net margin | 11.5% | 7.9% |
| Return on equity | 19.8% | 17.4% |
| P/E (trailing) | 13.6x | 14.3x |
| Price / free cash flow | 8.51x | 8.67x |
| EV / EBITDA | — | 2.01x |
| FCF growth the price implies | — | -6.1% |
| Dividend yield | 2.4% | 1.2% |
| Debt / equity | 5.85x | 4.92x |
| Fundamental grade | C | C |
| Superinvestors holding it | 2 | 3 |
| Insider purchases, last 12 months | 4 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
American Financial
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.6B | — | 20.4% |
| 2022 | $7.0B | — | 16.0% |
| 2023 | $7.8B | — | 13.7% |
| 2024 | $8.3B | — | 13.5% |
| 2025 | $8.2B | — | 13.1% |
Assurant
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $10.2B | $594M | 7.6% |
| 2022 | $10.2B | $411M | 3.4% |
| 2023 | $11.1B | $936M | 7.2% |
| 2024 | $11.9B | $1.1B | 7.8% |
| 2025 | $12.8B | $1.6B | 8.5% |
Where the revenue comes from
American Financial
No segment breakdown reported.
Assurant · by segments, 2021
Global Lifestyle$7.9B78%
Global Housing$2.1B20%
Corporate and Other$161M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AFG in InvestinglyQuestions
Which is bigger, American Financial or Assurant?
Assurant (AIZ), at $13.9B against $11.9B.
Is AFG or AIZ cheaper?
By trailing P/E, American Financial (13.6x) is cheaper than Assurant (14.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, AFG or AIZ?
Assurant: revenue grew +9.4% over the last year, against +5.5%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.