ALLALLSTATE CORP
Fire, Marine & Casualty Insurance
- Revenue
- $67.7B
- 5.6% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $66.0B
- Employees
- 53,000
- $1M revenue each
- Net debt / EBITDA
- —
- $6.7B net debt
- AI in 10-K
- 0.8
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$19M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo99% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo22% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$1M · 42nd pctBottom quartile of its SIC industry
- Quiet on AINo0.8 per 10K words · 29th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$66.0B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$81M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $50.6B | $51.4B | $57.1B | $64.1B | $67.7B | 5.6% |
| Net income | $1.5B | −$1.4B | −$316M | $4.5B | $10.2B | 123% |
| Operating cash flow | $5.1B | $5.1B | $4.2B | $8.9B | $10.1B | 13% |
| Capex | $345M | $420M | $267M | $210M | $228M | 8.6% |
| Stock-based comp | $120M | $93M | $73M | $125M | $123M | 1.6% |
| Buybacks | $3.1B | $2.5B | $335M | $2M | $1.2B | 61550% |
| Dividends | $885M | $926M | $925M | $962M | $1.0B | 7.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $81M · 54
- Net
- −$81M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $23M | $45M | 214 | 214 |
| FY2024 | $27M | $57M | 194 | 200 |
| FY2023 | $16M | $8M | 138 | 158 |
| FY2022 | $15M | $30M | 130 | 149 |
| FY2021 | $19M | $28M | 110 | 131 |