American International Group (AIG)
Financials · $38.8B market cap · SEC CIK 0000005272
fundamentals score out of 100
Next reports on Nov 2, 2026, after the close, with analysts expecting $1.82 in earnings per share.
The case for AIG
- Trades at 0.97× book value, below what the balance sheet says it owns.
- Reasonably priced at 13.1× earnings.
- Moves less than the market (beta 0.52).
- Pays a modest 2.2% dividend.
The case against
- Revenue slipped 4.2% on the year.
- Return on equity of only 7%.
- Revenue has shrunk 9.3% a year over five years.
- The price trend is weak (39/100): -3.2% over a year, +0.7% over three months, 25% of the way up its 52-week range.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 79 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 11 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 34 |
| Momentumhow the price has behaved lately | 39 |
| Stabilityhow violently it moves, what it owes and what it pays you | 88 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 13.1× |
|---|---|
| Price / book | 0.97× |
| Price / sales | 1.5× |
| Revenue growth (YoY) | -4.2% |
| EPS growth (YoY) | +3.0% |
| Gross margin | — |
| Operating margin | 15% |
| Net margin | 11% |
| Return on equity | 7% |
| Debt / equity | 0.22× |
| Current ratio | 0.04 |
| Dividend yield | 2.21% |
| Beta | 0.52 |
| 52-week range | $71.25 – $87.29 |
| Position in that range | 25% of the way up |
| 3-month return | +0.7% |
| 1-year return | -3.2% |
Five years of financials, as filed
Pulled from American International Group's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $26.8B | $27.3B | $27.9B | $30.0B | $52.2B |
| Net income | $3.1B | -$1.4B | $3.6B | $10.2B | $10.4B |
| Operating cash flow | $3.3B | $3.3B | $6.2B | $4.1B | $6.2B |
| Capital expenditure | — | — | $240M | $210M | $343M |
| Total assets | $161B | $161B | $539B | $522B | $596B |
| Total liabilities | $120B | $119B | $488B | $479B | $527B |
| Shareholder equity | $41.1B | $42.5B | $45.4B | $41.0B | $66.0B |
| Cash | $1.3B | $1.4B | $1.6B | $1.6B | $2.4B |
| Long-term debt | $9.2B | $8.9B | $10.6B | $27.2B | $30.2B |
| Free cash flow | — | — | $6.0B | $3.9B | $5.9B |
| Net margin | 11.6% | -5.2% | 13.0% | 34.1% | 19.9% |
| Diluted shares | 570M | 657M | 725M | 788M | 865M |
Share count is down 34.1% over 4 years. Buybacks have been shrinking the pie.
What American International Group says it does
– Regulation – Privacy, Data Protection, Cybersecurity and Artificial Intelligence Requirements and Part II, Item 7. MD&A – Enterprise Risk Management – Technology Risk – Cybersecurity Risk. Our development and use of new technology, such as generative artificial intelligence, may present risks. We use artificial intelligence (AI) in our business, including applying generative AI to certain aspects of the underwriting and claims processes in certain lines of business, which may raise technological, security, legal, regulatory and other risks and challenges that may adversely affect our operations, business or reputation. Such risks include the misuse, inadvertent or otherwise, of personal data or other sensitive, confidential or proprietary information, flaws in our or third-party models or training datasets resulting in biased, inaccurate or unanticipated outcomes, ethical considerations regarding the use and deployment of AI…
Risk factors AIG lists in its 10-K
- For additional information regarding our liquidity sources, see Part II, Item 7. MD&A – Liquidity and Capital Resources – Liquidity and Capital Resources of AIG Parent and Subsidiaries – Insurance Companies
- Investment Portfolio and Concentration of Investments
- The amount and timing of insurance liability claims are difficult to predict and such claims may exceed the related liability for unpaid losses and loss adjustment expenses
- For additional information on reserve development, see Part II, Item 7. MD&A – Insurance Reserves
- For additional information on our loss reserves, see Part II, Item 7. MD&A – Critical Accounting Estimates – Loss Reserves and Note 13 to the Consolidated Financial Statements
- Reinsurance may be unavailable or too expensive relative to its benefit and may not be adequate to protect us against losses
- For additional information on reinsurance, see Note 8 to the Consolidated Financial Statements
- Our consolidated results of operations, liquidity, financial condition and ratings are subject to the effects of natural and man-made catastrophic events as well as mass torts
- For additional information on potential catastrophic events, including a sensitivity analysis of our exposure to certain catastrophes, see Part II, Item 7. MD&A – Enterprise Risk Management – Insurance Risk
- For information regarding the effects of climate change on our business, see "Climate change may adversely affect our business and financial condition" below
- Climate change may adversely affect our business and financial condition
- For more information regarding risks associated with legal proceedings, see Business and Operations – "Significant legal or regulatory proceedings may adversely affect our business, results of operations or financial condition."
- Concentration of our insurance, reinsurance and other risk exposures may have adverse effects
- Losses due to nonperformance or defaults by counterparties may materially and adversely affect the value of our investments, our profitability and sources of liquidity