Allstate (ALL) financial statements
Allstate reported revenue of $67.7B in fiscal 2025, up 6.8% a year over 9 years.
Net income was $10.3B and the operating margin 17.1%, against 7.4% in 2016.
Free cash flow was $9.9B, and the company returned $1.0B in dividends and $1.2B in net buybacks.
The diluted share count fell 29% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Allstate's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.4B | $39.4B | $39.8B | $41.5B | $41.9B | $50.6B | $51.4B | $57.1B | $64.1B | $67.7B |
| Operating income | $2.7B | $4.5B | $2.6B | $5.4B | $6.8B | $6.5B | -$1.8B | -$348M | $5.8B | $11.6B |
| Interest expense | $295M | $335M | $332M | $327M | $318M | $330M | $335M | $379M | — | — |
| Pre-tax income | — | — | — | — | — | — | — | -$348M | $5.8B | $13.2B |
| Income tax | $877M | $995M | $468M | $1.1B | $1.4B | $1.3B | -$488M | -$135M | $1.2B | $2.9B |
| Net income | $1.9B | $3.6B | $2.2B | $4.8B | $5.6B | $1.6B | -$1.3B | -$188M | $4.7B | $10.3B |
| EPS (diluted) | $4.67 | $9.35 | $5.70 | $14.03 | $17.31 | $5.01 | -$5.14 | -$1.20 | $16.99 | $38.06 |
| Diluted shares | 377M | 368M | 353M | 334M | 316M | 299M | 271M | 262M | 268M | 267M |
| Operating margin | 7.4% | 11.5% | 6.6% | 13.1% | 16.2% | 12.8% | -3.6% | -0.6% | 9.0% | 17.1% |
| Net margin | 5.0% | 9.0% | 5.4% | 11.7% | 13.3% | 3.2% | -2.5% | -0.3% | 7.3% | 15.2% |
Balance sheet
Fiscal years, from Allstate's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $4.7B | $2.6B | $3.5B | $4.6B | $7.1B | $4.8B | $4.9B | $5.9B | $5.2B | $5.6B |
| Receivables | $5.6B | $5.8B | $6.2B | $6.5B | $6.5B | $8.4B | $9.2B | $10.0B | $10.6B | $11.5B |
| Property, plant and equipment | $1.1B | $1.1B | $1.0B | $1.1B | $1.1B | $939M | $987M | $859M | $669M | $627M |
| Goodwill | $1.2B | $2.2B | $2.5B | $2.5B | $2.4B | $3.5B | $3.5B | $3.5B | $3.2B | $3.1B |
| Total assets | $108.6B | $112.4B | $112.2B | $120.0B | $126.0B | $99.4B | $98.0B | $103.4B | $111.6B | $119.8B |
| Total liabilities | $88.0B | $89.9B | $90.9B | $94.0B | $95.8B | $74.3B | $80.6B | $85.7B | $90.2B | $89.2B |
| Shareholders' equity | $20.6B | $22.6B | $21.3B | $26.0B | $30.2B | $24.9B | $17.5B | $17.8B | $21.4B | $30.6B |
| Net debt | -$436M | -$617M | -$499M | -$338M | -$311M | -$763M | -$736M | -$722M | -$704M | -$678M |
Cash flow
Fiscal years, from Allstate's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.0B | $4.3B | $5.2B | $5.1B | $5.5B | $5.1B | $5.1B | $4.2B | $8.9B | $10.1B |
| Capital spending | $313M | $299M | $277M | $433M | $308M | $345M | $420M | $267M | $210M | $228M |
| Free cash flow | $3.7B | $4.0B | $4.9B | $4.7B | $5.2B | $4.8B | $4.7B | $4.0B | $8.7B | $9.9B |
| Stock-based compensation | $80M | $106M | $125M | $105M | $124M | $120M | $93M | $73M | $125M | $123M |
| Dividends paid | $486M | $525M | $614M | $653M | $668M | $885M | $926M | $925M | $962M | $1.0B |
| Share buybacks (net) | -$1.3B | -$1.5B | -$2.3B | -$1.7B | -$1.7B | -$3.1B | -$2.5B | -$335M | -$2M | -$1.2B |
| Net borrowing | $1.2B | $0 | $98M | $174M | $1.2B | -$436M | $0 | -$7M | $145M | -$600M |
| Free cash flow margin | 9.8% | 10.2% | 12.3% | 11.3% | 12.4% | 9.4% | 9.1% | 6.9% | 13.6% | 14.6% |
| Dividends per share | $1.29 | $1.43 | $1.74 | $1.96 | $2.12 | $2.96 | $3.41 | $3.52 | $3.59 | $3.88 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ALL.
Open ALL in InvestinglyQuestions
What was Allstate's revenue in 2025?
$67.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Allstate generate?
$9.9B in fiscal 2025 (operating cash flow minus capital spending).
From Allstate's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.