Explain this page
Arphra AIPlain-English read on Assurant, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +40.73% | +76.85% | +77.35% | +76.71% | +77.15% | +75.89% | +79.11% | +76.98% |
| Operating margin | +7.57% | +3.43% | +7.25% | +7.81% | +8.49% | +7.70% | +7.67% | +7.74% |
| EBITDA margin | +10.35% | +6.28% | +9.98% | +10.59% | +11.29% | +10.82% | +10.56% | +10.51% |
| EBIT margin | +8.67% | +4.50% | +8.22% | +8.71% | +9.34% | +8.91% | +8.82% | +9.00% |
| Pre-tax margin | +7.57% | +3.43% | +7.25% | +7.81% | +8.49% | +7.70% | +8.00% | +7.81% |
| Net margin | +13.37% | +2.71% | +5.77% | +6.40% | +6.81% | +6.32% | +6.19% | +6.28% |
| Cost structure | ||||||||
| Cost of revenue / sales | +59.27% | +23.15% | +22.65% | +23.29% | +22.85% | +23.25% | +23.60% | +23.09% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Effective tax rate | +21.83% | +20.95% | +20.36% | +18.02% | +19.74% | +19.25% | +19.00% | +19.08% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +24.92% | +6.54% | +13.36% | +14.89% | +14.86% | +14.47% | +13.72% | +14.15% |
| Return on assets (ROA) | +4.01% | +0.84% | +1.91% | +2.17% | +2.40% | +2.13% | +2.15% | +2.17% |
| Return on capital (ROC) | +10.06% | +5.50% | +11.71% | +12.90% | +13.46% | +12.47% | +12.14% | +12.37% |
| Return on invested capital (ROIC) | +17.76% | +4.35% | +9.33% | +10.57% | +10.80% | +10.24% | +9.80% | +10.04% |
| Asset turnover | +30.03% | +30.78% | +33.10% | +33.92% | +35.31% | +33.67% | +34.78% | +34.56% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +13.37% | +2.71% | +5.77% | +6.40% | +6.81% | +6.32% | +6.19% | +6.28% |
| Asset turnover (× revenue / assets) | +30.03% | +30.78% | +33.10% | +33.92% | +35.31% | +33.67% | +34.78% | +34.56% |
| Equity multiplier (× assets / equity) | +620.79% | +783.16% | +699.35% | +685.78% | +618.05% | +679.81% | +637.07% | +651.54% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.30 | 0.31 | 0.33 | 0.34 | 0.35 | 0.34 | 0.35 | 0.35 |
| Fixed-asset turnover | 18.15 | 15.80 | 16.23 | 15.46 | 15.22 | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — |
| Receivables turnover | 1.24 | 1.07 | 1.24 | 1.22 | 1.49 | — | — | — |
| Payables turnover | 2.94 | 0.87 | 1.04 | 0.95 | 1.39 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 293.28 | 339.86 | 295.49 | 300.05 | 244.85 | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 123.99 | 418.05 | 350.16 | 384.49 | 261.95 | — | — | — |
| Cash conversion cycle | 169.29 | -78.19 | -54.67 | -84.44 | -17.10 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.57 | 2.16 | 1.77 | 1.75 | 2.10 | 1.88 | 1.94 | 1.91 |
| FCF / Net income | 0.44 | 1.48 | 1.46 | 1.46 | 1.83 | 1.58 | 1.62 | 1.61 |
| FCF margin | +5.83% | +4.03% | +8.40% | +9.36% | +12.47% | +9.97% | +10.02% | +10.10% |
| OCF margin | +7.67% | +5.86% | +10.22% | +11.22% | +14.31% | +11.87% | +11.99% | +12.03% |
| CapEx / Revenue | +1.84% | +1.83% | +1.82% | +1.86% | +1.84% | +1.79% | +1.86% | +1.82% |
| CapEx / D&A | 1.09 | 1.02 | 1.03 | 0.99 | 0.94 | — | — | — |
| Stock-based comp / Revenue | +0.65% | +0.61% | +0.67% | +0.68% | 0.00% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 10.20 | 5.05 | 11.95 | 14.46 | 17.39 | 21.04 | 22.41 | 24.41 |
| EPS · basic | 10.37 | 5.09 | 12.02 | 14.55 | 17.29 | 21.24 | 22.40 | 24.10 |
| Book value / share | 90.88 | 77.19 | 89.42 | 97.12 | 116.97 | 120.69 | 132.73 | 135.72 |
| Tangible BV / share | -120.10 | -163.43 | -156.51 | -152.86 | -149.10 | 120.69 | 132.73 | 135.72 |
| Sales / share | 169.44 | 186.06 | 206.97 | 225.89 | 255.28 | 276.24 | 294.11 | 305.57 |
| Operating CF / share | 13.00 | 10.90 | 21.16 | 25.35 | 36.53 | 32.79 | 35.26 | 36.76 |
| Free cash flow / share | 9.88 | 7.50 | 17.40 | 21.14 | 31.84 | 27.54 | 29.48 | 30.87 |
| Dividends / share | 2.62 | 2.74 | 2.83 | 2.96 | 3.35 | 3.67 | 3.87 | 3.99 |
| Payout ratio | +11.57% | +54.30% | +23.70% | +20.51% | +19.30% | +21.00% | +21.25% | +20.75% |
| Retention ratio | +88.43% | +45.70% | +76.30% | +79.49% | +80.70% | +79.00% | +78.75% | +79.25% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +0.05% | +9.21% | +6.70% | +7.89% | +8.48% | +5.60% | +4.76% | +6.06% |
| Gross profit · YoY | — | +88.76% | +9.91% | +5.82% | +8.51% | +6.71% | +10.08% | +1.94% | +16.15% |
| Profit | |||||||||
| Operating income · YoY | — | -54.64% | +130.58% | +14.94% | +17.27% | -1.54% | +5.20% | +5.74% | +6.40% |
| EBITDA · YoY | — | -39.30% | +73.57% | +13.19% | +15.05% | +3.94% | +3.02% | +4.36% | +6.30% |
| Net income · YoY | — | -79.69% | +132.28% | +18.32% | +14.80% | +0.73% | +3.37% | +6.37% | -4.78% |
| Operating | |||||||||
| EBIT · YoY | — | -48.11% | +99.65% | +13.06% | +15.74% | +3.49% | +4.54% | +6.91% | +6.64% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | -50.49% | +136.63% | +21.00% | +20.26% | +20.98% | +6.52% | +8.94% | +13.28% |
| EPS · basic · YoY | — | -50.92% | +136.15% | +21.05% | +18.83% | +22.87% | +5.42% | +7.61% | +12.80% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $2.2B | $2.13B | $2.08B | $2.08B | $2.21B | $2.51B | $2.65B | $2.8B |
| Net debt | $161.7M | $593.2M | $453M | $275.4M | $372.8M | $505.87M | $441.09M | $598.97M |
| Net debt / EBITDA | 0.15 | 0.93 | 0.41 | 0.22 | 0.26 | 0.34 | 0.28 | 0.37 |
| Debt / equity | 0.40 | 0.50 | 0.43 | 0.41 | 0.38 | 0.41 | 0.40 | 0.41 |
| Debt / assets | +6.49% | +6.43% | +6.19% | +5.95% | +6.08% | +6.09% | +6.28% | +6.29% |
| Equity / assets | +16.11% | +12.77% | +14.30% | +14.58% | +16.18% | +14.71% | +15.70% | +15.35% |
| Coverage | ||||||||
| EBITDA / interest expense | 9.43 | 5.91 | 10.29 | 11.76 | 13.19 | 12.00 | 11.30 | 11.91 |
| Operating income / interest | 6.90 | 3.23 | 7.47 | 8.67 | 9.91 | 8.54 | 8.21 | 8.77 |
| Interest expense | $111.8M | $108.3M | $108M | $107M | $109.7M | $125.32M | $137.14M | $135.77M |
| Liquidity | ||||||||
| Current ratio | 0.81 | 0.74 | 0.54 | 0.79 | 0.55 | — | — | — |
| Quick ratio | 0.81 | 0.74 | 0.54 | 0.79 | 0.55 | — | — | — |
| Cash ratio | 0.09 | 0.06 | 0.07 | 0.08 | 0.08 | — | — | — |
| Working capital | -$4.04B | -$6.28B | -$10.72B | -$4.93B | -$10.74B | — | — | — |
| Working capital / revenue | -39.67% | -61.58% | -96.30% | -41.54% | -83.82% | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).