Assurant key statistics and ratios
In fiscal 2025, Assurant had return on equity of 15.9%, a net margin of 6.8% and debt equal to 37.6% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 4.9% | 3.3% | 6.5% | 5.7% | 5.4% | 4.5% | 1.4% | 7.5% | 8.1% | 3.1% | 4.0% | 4.6% | 13.4% | 2.7% | 5.8% | 6.4% | 6.8% | 7.9% |
| Free-cash-flow margin | 2.5% | 5.7% | 9.9% | 7.3% | 10.8% | 3.0% | 1.1% | 0.3% | 7.3% | 7.1% | 13.6% | 12.7% | 5.8% | 4.0% | 8.4% | 9.4% | 12.5% | 12.3% |
| Return on equity | 9.1% | 6.0% | 11.3% | 9.6% | 9.8% | 9.4% | 2.9% | 13.1% | 12.4% | 5.4% | 7.1% | 7.6% | 23.9% | 5.7% | 14.2% | 15.3% | 15.9% | 17.8% |
| Return on assets | 1.7% | 1.1% | 2.0% | 1.7% | 1.7% | 1.5% | 0.5% | 1.9% | 1.7% | 0.7% | 0.9% | 1.0% | 3.5% | 0.8% | 1.9% | 2.2% | 2.4% | 2.9% |
| Asset turnover | 0.34 | 0.33 | 0.31 | 0.30 | 0.31 | 0.34 | 0.34 | 0.25 | 0.21 | 0.22 | 0.22 | 0.22 | 0.26 | 0.30 | 0.33 | 0.35 | 0.36 | 0.37 |
| Debt to equity | 20.7% | 21.0% | 19.9% | 18.8% | 33.9% | 22.6% | 25.7% | 26.0% | 25.0% | 39.2% | 35.5% | 37.9% | 40.3% | 50.4% | 43.3% | 40.8% | 37.6% | 36.2% |
| Effective tax rate | 35.2% | 35.9% | 23.7% | 36.2% | 38.1% | 36.7% | 29.6% | 33.4% | −16.9% | 24.3% | 32.6% | 10.2% | 21.8% | 20.9% | 20.4% | 18.0% | 19.7% | 19.9% |
| SG&A as % of revenue | 27.3% | 29.5% | 29.4% | 30.9% | 33.5% | 35.5% | 38.0% | 45.7% | 42.3% | 37.0% | 33.3% | 31.8% | 31.9% | — | — | — | — | — |
| Capital spending as % of revenue | 0.6% | 0.6% | 0.4% | 0.7% | 0.6% | 0.8% | 1.1% | 1.1% | 1.0% | 1.0% | 1.2% | 1.3% | 1.8% | 1.8% | 1.8% | 1.9% | 1.8% | 1.6% |
| Free cash flow ÷ net income | 49.7% | 175.7% | 152.1% | 128.8% | 199.5% | 65.9% | 81.2% | 4.1% | 90.1% | 228.6% | 340.6% | 277.0% | 43.6% | 148.4% | 145.6% | 146.2% | 183.2% | 155.7% |
| Dividends ÷ net income | 16.2% | 25.0% | 12.5% | 14.3% | 15.2% | 16.5% | 66.5% | 22.2% | 22.9% | 53.3% | 39.6% | 35.1% | 11.6% | 54.3% | 23.7% | 20.5% | 19.3% | 16.6% |
| Dividends and buybacks ÷ free cash flow | 47.4% | 121.0% | 73.4% | 77.3% | 47.9% | 94.3% | 336.6% | >999% | 108.5% | 47.6% | 32.5% | 37.0% | 167.7% | 176.1% | 36.9% | 41.7% | 29.5% | 33.5% |
Moat
Moderate moat
How hard Assurant's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 16 / 20
Net income has been a median 1.3% of total assets over 10 years.
- Durability 9 / 20
Net margin has been a median 5.3%; its worst year was 3.3%.
- Discipline 20 / 20
The diluted share count fell 18.8% over five years; stock-based pay has been a median 0.6% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (75 before it).
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