📅 Fiscal year ends Dec🎙️ Last earnings: Feb 5, 2026
Latest Quarter Insights
2025 Q4
Sentiment
6/10-1
▸How this score was built
Base5Base 5GAAP revenue YoY +1.52% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean for a P&C insurer — premiums earned grew in line with reported top line and no structural sector mismatch applies (P&C insurers are not in the Sector Rules Table closed list).+EPS+1EPS +1GAAP EPS YoY 103.25% vs revenue YoY 1.52%, spread +101.73pp. Operating income cross-check: OI YoY 100.69% vs rev_yoy 1.52% = spread +99.17pp (inside same direction), so the earnings leverage is real and operating, driven by better underwriting losses, lower catastrophes, and prior-year reserve releases. +1 for margin expansion.+Guidance0Guidance 0Allstate does not issue formal forward revenue or EPS guidance. The $4B buyback authorization and 8% dividend increase are capital return actions, not guidance per rubric → 0.=Final6
How this score was built
Base5Base 5GAAP revenue YoY +1.52% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean for a P&C insurer — premiums earned grew in line with reported top line and no structural sector mismatch applies (P&C insurers are not in the Sector Rules Table closed list).+
Macro Signals
→Consumer Spending↑Inflation↑Credit
Key Themes7
positive📊 company
Net Income Doubled On Underwriting Gains
Net income applicable to common shareholders rose to $3.8 billion for the quarter from $1.9 billion a year ago, with better underwriting losses, lower catastrophes and prior year reserve releases cited as the three primary drivers.
MarginRevenue Growth
positive📊 company
Auto Combined Ratio Improved 10 Points
The auto combined ratio improved by 10 points compared to the prior year; excluding reserve changes and lower catastrophes, the underlying auto combined ratio was about 90, with full year 2025 auto underwriting income of $5.7 billion.
EPS +1GAAP EPS YoY 103.25% vs revenue YoY 1.52%, spread +101.73pp. Operating income cross-check: OI YoY 100.69% vs rev_yoy 1.52% = spread +99.17pp (inside same direction), so the earnings leverage is real and operating, driven by better underwriting losses, lower catastrophes, and prior-year reserve releases. +1 for margin expansion.
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Guidance0Guidance 0Allstate does not issue formal forward revenue or EPS guidance. The $4B buyback authorization and 8% dividend increase are capital return actions, not guidance per rubric → 0.
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Final6
Personal lines new business increased from 5.5 million in 2019 to 11.6 million in 2025 and total personal lines policies in force grew from 33.5 million to 38.1 million, with new business now balanced across agent, independent, and direct channels.
Revenue GrowthCompetitive Dynamics
positive📊 company
Homeowners Recorded 84.4 Combined Ratio
Homeowners recorded combined ratio of 84.4 with an underlying combined ratio of 57.9 on 15% premiums earned growth, generating $2.4 billion of underwriting income and compared favorably to Allstate's ten-year average combined ratio of 92.
MarginRevenue Growth
positive📊 company
$4 Billion Buyback And 8% Dividend Raise
Board authorized a new $4 billion share repurchase program to begin upon completion of the existing $1.5 billion program and increased the quarterly dividend by 8% to $1.08 per share, after returning $2.2 billion to shareholders in 2025.
Capital Allocation
mixed📊 company
Regulatory Constraints In NY, NJ, And Tort States
Allstate remains profitable but not growing in New York and New Jersey pending ASC auto product approvals; management flagged Florida's tort reform progress, which enabled the top five insurance companies in the state to request rate reductions of 5.9% in 2025.
Regulation Policy
positive📊 company
SAVE Program Reduced Premiums For 7.8M Customers
The SAVE program reduced 7.8 million customers' premiums by 17% on average, and cumulative earned premium impact from auto rate decreases and save actions reached $810 million by year-end, or approximately 2% of 2025 auto earned premiums.