# The Allstate Corporation (ALL) — Stock CV

The Allstate Corporation is a $58.0B financial services company. Revenue grew 5.9% over the last year, and it keeps 19¢ of every dollar of sales as profit. It trades at 4.4× earnings — near the lowest of its own history.

> Allstate is one of the largest US property-casualty insurers in the US. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products.

## Identity

- **Ticker**: ALL
- **Sector**: Financial Services
- **Industry**: Fire, Marine & Casualty Insurance
- **Headquarters**: NORTHBROOK, IL
- **Employees**: 53 300
- **Website**: https://www.allstate.com
- **Market cap**: $58.0B
- **Last price**: $229.43
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $70.1B
- **Net income**: $13.3B
- **Free cash flow**: $12.2B
- **Net debt**: $2.60B
- **P/E**: 4.4
- **Revenue growth (YoY)**: 5.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 100 |
| Growth | 57 |
| Profitability | 90 |
| Health | 48 |
| Quality | 74 |
| Moat | 43 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +5.9% YoY
- [x] Profitable — $13.3B TTM
- [x] Profit growing — +16.9% YoY
- [x] Generates cash — $12.2B TTM
- [x] Debt under control — ~0.2y of cash flow to repay
- [x] Established company — $58.0B market cap
- [x] Not printing shares — -15.3% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [ ] Financially stable — Altman Z 1.2 — distress
- [x] Pays a dividend — yield 2.04%
- [x] Valuation not extreme — P/E 4.4

## Experience (career milestones)

- **FY2025** — Best year on record: $10.3B net income
- **FY2021** — Revenue crossed $50B: $50.6B for the year
- **2017** — Allstate acquired SquareTrade, a consumer electronics and appliance protection plan provider
- **FY2016** — First recorded profitable year: $1.88B net income
- **FY2016** — Revenue already above $10B: $36.5B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2003** — Actor Dennis Haysbert became Allstate's spokesman, using the tagline "That’s Allstate’s stand." In May…
- **1999** — Allstate purchased the personal-lines division of CNA Financial and subsequently renamed it to Encompass…
- **1995** — Allstate became completely independent in June 1995, when Sears spun off the remaining 80% stake in the company,…
- **1993** — 19.8% of Allstate became public through a stock offering
- **1991** — The company went public
- **1950** — The company's "You're in Good Hands with Allstate" slogan, which featured a cradling hands, was created in 1950 by…
- **1934** — Allstate opened its first permanent sales office in a Chicago Sears store
- **1933** — At the Century of Progress World's Fair in Chicago, Allstate's Richard E
- **1931** — Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993, but was still partially owned by Sears…

## Strengths

- Strong cash conversion — FCF is 17.5% of revenue
- Could repay net debt from ~0.5 years of free cash flow
- Interest covered 14.1× by operating earnings
- High returns on invested capital (ROIC 31.0%)

## Watch-outs

- Altman Z-Score 1.24 — elevated financial-distress risk
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $50.6B | $1.60B | $4.77B |
| FY2022 | $51.4B | -$1.31B | $4.70B |
| FY2023 | $57.1B | -$188M | $3.96B |
| FY2024 | $64.1B | $4.67B | $8.72B |
| FY2025 | $67.7B | $10.3B | $9.88B |

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Source: https://stockcv.com/ALL — derived from company filings; may be delayed or incomplete. Information, not investment advice.