Latest Ratios: P/E Ratio 6.6x · EV/EBITDA 5.2x · ROE 39.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $64.7B | $55.1B | $51.6B | $36.7B | $36.8B | $35.2B | $34.7B | $37.5B | $29.2B | $38.5B | $28.0B |
| Enterprise Value | $71.5B | $61.9B | $59.0B | $44.0B | $44.0B | $42.4B | $42.2B | $43.8B | $35.1B | $44.2B | $33.9B |
| P/E Ratio → | 6.58 | 5.45 | 11.35 | — | — | 6.82 | 6.35 | 8.01 | 13.50 | 11.20 | 15.87 |
| P/S Ratio | 0.97 | 0.83 | 0.81 | 0.65 | 0.73 | 0.72 | 0.83 | 0.91 | 0.73 | 0.98 | 0.75 |
| P/B Ratio | 2.18 | 1.80 | 2.42 | 2.08 | 2.12 | 1.40 | 1.15 | 1.44 | 1.37 | 1.71 | 1.36 |
| P/FCF | 6.55 | 5.58 | 5.92 | 9.28 | 7.82 | 7.38 | 6.69 | 7.99 | 5.96 | 9.59 | 7.60 |
| P/OCF | 6.40 | 5.45 | 5.78 | 8.69 | 7.18 | 6.88 | 6.32 | 7.31 | 5.64 | 8.93 | 7.00 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.93 | 0.93 | 0.78 | 0.87 | 0.87 | 1.01 | 1.07 | 0.88 | 1.12 | 0.91 |
| EV / EBITDA | 5.25 | 4.54 | 9.34 | 123.50 | — | 5.61 | 5.64 | 7.19 | 11.19 | 8.79 | 10.80 |
| EV / EBIT | 5.44 | 4.57 | 9.58 | 1418.22 | — | 6.24 | 5.93 | 7.59 | 11.87 | 9.06 | 11.11 |
| EV / FCF | — | 6.26 | 6.77 | 11.10 | 9.36 | 8.89 | 8.14 | 9.33 | 7.17 | 11.02 | 9.21 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | 33.2% | 22.8% | 12.7% | 11.2% | 24.7% | 31.2% | 27.1% | 23.1% | 25.8% | 21.5% |
| Operating Margin | 19.8% | 19.8% | 9.1% | -0.6% | -3.6% | 13.3% | 16.3% | 13.2% | 6.6% | 11.5% | 7.4% |
| Net Profit Margin | 15.5% | 15.5% | 7.3% | -0.3% | -2.5% | 3.3% | 13.4% | 11.8% | 5.4% | 9.0% | 5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 39.6% | 39.6% | 23.9% | -1.1% | -6.1% | 5.8% | 19.8% | 20.5% | 9.8% | 16.5% | 9.2% |
| ROA | 8.9% | 8.9% | 4.3% | -0.2% | -1.3% | 1.4% | 4.5% | 4.2% | 1.9% | 3.2% | 1.8% |
| ROIC | 29.8% | 29.8% | 16.1% | -1.1% | -4.8% | 13.8% | 14.6% | 13.7% | 7.1% | 12.5% | 8.1% |
| ROCE | 29.4% | 29.4% | 5.4% | -0.3% | -1.9% | 5.7% | 5.5% | 5.4% | 2.7% | 4.7% | 2.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.38 | 0.45 | 0.46 | 0.32 | 0.26 | 0.26 | 0.30 | 0.28 | 0.31 |
| Debt / EBITDA | 0.55 | 0.55 | 1.28 | 22.31 | — | 1.06 | 1.05 | 1.09 | 2.06 | 1.26 | 2.02 |
| Net Debt / Equity | — | 0.22 | 0.35 | 0.41 | 0.42 | 0.29 | 0.25 | 0.24 | 0.28 | 0.25 | 0.29 |
| Net Debt / EBITDA | 0.50 | 0.50 | 1.17 | 20.28 | — | 0.96 | 1.00 | 1.03 | 1.90 | 1.14 | 1.88 |
| Debt / FCF | — | 0.69 | 0.85 | 1.82 | 1.54 | 1.51 | 1.45 | 1.34 | 1.22 | 1.43 | 1.61 |
| Interest Coverage | 33.97 | 33.97 | 15.40 | 0.08 | -4.46 | 20.59 | 22.39 | 17.65 | 8.92 | 14.58 | 10.34 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.37 | 0.37 | — | — | — | — | — | 1.26 | 1.29 | 1.32 | 1.49 |
| Quick Ratio | 0.37 | 0.37 | — | — | — | — | — | 1.26 | 1.29 | 1.32 | 1.49 |
| Cash Ratio | 0.08 | 0.08 | — | — | — | — | — | 0.29 | 0.24 | 0.20 | 0.37 |
| Asset Turnover | — | 0.55 | 0.57 | 0.55 | 0.52 | 0.49 | 0.33 | 0.34 | 0.35 | 0.35 | 0.34 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 1.9% | 1.9% | 2.5% | 2.5% | 2.5% | 1.9% | 1.7% | 2.1% | 1.4% | 1.7% |
| Payout Ratio | 10.1% | 10.1% | 20.6% | — | — | 54.8% | 12.0% | 13.5% | 28.4% | 14.8% | 25.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.2% | 18.3% | 8.8% | — | — | 14.7% | 15.7% | 12.5% | 7.4% | 8.9% | 6.3% |
| FCF Yield | 15.3% | 17.9% | 16.9% | 10.8% | 12.8% | 13.6% | 14.9% | 12.5% | 16.8% | 10.4% | 13.2% |
| Buyback Yield | 1.9% | 2.2% | 0.0% | 0.9% | 6.9% | 10.1% | 5.8% | 7.6% | 9.2% | 3.9% | 4.8% |
| Total Shareholder Yield | 3.5% | 4.1% | 1.9% | 3.4% | 9.4% | 12.7% | 7.8% | 9.4% | 11.3% | 5.2% | 6.5% |
| Shares Outstanding | — | $265M | $268M | $263M | $271M | $299M | $316M | $334M | $353M | $368M | $377M |
Catastrophe loss volatility
According to recent market data, Allstate trades at a P/B of 2.07, which appears to discount the company relative to peers like Progressive, potentially reflecting investor skepticism regarding the long-term sustainability of the recent underwriting margin expansion observed over the last ten quarters.
The current P/B multiple suggests that the market is pricing in a normalization of underwriting profitability rather than the peak performance levels seen in 2025Q4. Investors should monitor whether the current valuation gap to higher-multiple peers narrows as the company demonstrates consistent, non-volatile earnings growth through its transformative initiatives.
As reported in financial statements, the combined ratio improved from a peak of 97.2% in 2024Q2 to 81.1% in 2026Q1, indicating that aggressive rate adjustments have successfully outpaced the inflationary pressures that previously constrained underwriting profitability across the core personal lines portfolio.
The sharp reduction in the loss ratio from 83.8% to 54.7% over the same period suggests a significant improvement in risk selection and pricing precision. This trend warrants further investigation to determine if the current expense ratio of 26.4% represents a new structural floor or if further efficiencies are achievable.
Based on reported figures, Allstate maintains a D/E ratio of 0.24, which appears exceptionally conservative for a major P&C insurer, suggesting that the company possesses significant balance sheet flexibility to absorb potential catastrophe-related volatility without compromising its core underwriting leverage or regulatory capital requirements.
This low leverage profile provides a buffer against the inherent volatility of the P&C business model, allowing management to prioritize capital returns while maintaining a strong surplus. Analysts should verify if this debt level is sustainable or if it reflects a temporary deleveraging phase prior to future strategic capital deployment.
The P/E ratio is frequently misapplied to Allstate, as evidenced by its TTM P/E of 6.27, which obscures the underlying volatility of underwriting results and the significant impact of non-recurring investment gains or losses on reported net income figures.
Because P/E ignores the capital-intensive nature of insurance and the importance of book value as a proxy for the float, it often leads to misleading conclusions about the company's true earnings power. Investors should instead prioritize the combined ratio and P/B as more reliable indicators of long-term franchise value and underwriting health.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ALL stock.
The Allstate Corporation's current P/E ratio is 6.6x. The historical average is 12.5x. This places it at the 7th percentile of its historical range.
The Allstate Corporation's current EV/EBITDA is 5.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.6x.
The Allstate Corporation's return on equity (ROE) is 39.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 12.4%.
Based on historical data, The Allstate Corporation is trading at a P/E of 6.6x. This is at the 7th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Allstate Corporation's current dividend yield is 1.56% with a payout ratio of 10.1%.
The Allstate Corporation has 33.2% gross margin and 19.8% operating margin. Operating margin between 10-20% is typical for established companies.
The Allstate Corporation's Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.