Assurant (AIZ) Q4 FY2025 earnings: revenue $3.4 billion, up 7.9% on the year

Assurant, Inc. (AIZ) reported revenue of $3.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 7.9% on the same quarter a year earlier. Net income was $225 million, up 11.9% on the year, and diluted earnings per share $4.41. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2026.

Revenue

$3.4 billion

+7.9% on the year · +3.7% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

8.5%

8.1% a year earlier

Q1 FY2024Q4 FY2025

Net income

$225 million

+11.9% on the year · -15.2% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$4.41

+14.0% on the year · -14.7% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 new.

Full-year GAAP net income up 15%: Full-year 2025 GAAP net income was $872.7 million, with diluted EPS of $16.93, up 17 percent. The company cited higher Global Housing segment earnings and lower catastrophes.
Full-year EBITDA up 11% ex catastrophes: Adjusted EBITDA was $1,536.2 million, up 16 percent. Excluding reportable catastrophes it was $1,734.4 million, up 11 percent, from growth in Global Housing and Global Lifestyle.
Global Housing full-year EBITDA up 28%: Global Housing Adjusted EBITDA was $858.7 million. Excluding catastrophes it was $1,057.5 million, up 15 percent, on lender-placed top-line growth and favorable non-catastrophe losses.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	3,350	3,232	3,105	+3.7%	+7.9%
Operating income	284	331	250	-14.4%	+13.4%
Operating margin	8.5%	10.2%	8.1%
Interest expense	28.3	27.9	26.8	+1.4%	+5.6%
Pre-tax income	284	331	250	-14.4%	+13.4%
Income tax	58.3	65.6	48.7	-11.1%	+19.7%
Effective tax rate	20.6%	19.8%	19.5%
Net income	225	266	201	-15.2%	+11.9%
Net margin	6.7%	8.2%	6.5%
Diluted EPS	$4.41	$5.17	$3.87	-14.7%	+14.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	671	505	103	+32.9%	+552.7%
Capital expenditure	59.3	62.9	68.0	-5.7%	-12.8%
Free cash flow	612	442	34.8	+38.4%	+1,657.8%
Free cash flow margin	18.3%	13.7%	1.1%
Cash from investing	-404	-270	71.0
Cash from financing	-136	-5.0	-160
Depreciation and amortisation	72.0	62.3	63.9	+15.6%	+12.7%
Share-based compensation	25.0	23.2	22.8	+7.8%	+9.6%
Buybacks	94.3	81.8	120	+15.3%	-21.6%
Dividends paid	44.2	40.6	41.1	+8.9%	+7.5%
Dividend per share	n/a	$0.80	n/a
Diluted shares, weighted	51m	51m	52m	-1.3%	-2.7%
Shares outstanding at period end	50m	50m	51m	-0.8%	-2.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	5,872	5,758	5,107	+2.0%	+15.0%
Other liabilities	30,418	30,024	29,914	+1.3%	+1.7%
Total liabilities and equity	36,290	35,782	35,021	+1.4%	+3.6%
Fixed assets	842	831	768	+1.3%	+9.6%
Goodwill	2,646	2,650	2,616	-0.1%	+1.2%
Intangible assets	522	528	536	-1.0%	-2.5%
Securities held for sale or to maturity	8,578	8,295	7,175	+3.4%	+19.5%
Cash and equivalents	1,834	1,712	1,808	+7.1%	+1.5%
Other assets	21,868	21,767	22,118	+0.5%	-1.1%
Total assets	36,290	35,782	35,021	+1.4%	+3.6%

Questions

What was Assurant's revenue in Q4 FY2025?

Assurant (AIZ) reported revenue of $3.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 7.9% on the same quarter a year earlier.

How much did Assurant earn in Q4 FY2025?

Net income for Q4 FY2025 was $225 million, up 11.9% on the year, and diluted earnings per share $4.41.

When did Assurant report Q4 FY2025 results?

Assurant filed its 10-K for the year that ended with the quarter on 19 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,575	2,483	2,510	2,548	2,653	2,643	2,732	2,774	2,983	2,880	2,925	2,968	3,105	3,074	3,158	3,232	3,350	3,420	3,454	3,530
SG&A	939	802	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	162	171	69.9	8.5	101	147	204	229	227	293	233	152	250	184	289	331	284	336	377	350
Operating margin	6%	7%	3%	0%	4%	6%	7%	8%	8%	10%	8%	5%	8%	6%	9%	10%	8%	10%	11%	10%
Interest expense	27.1	26.9	27.2	26.3	27.9	27.0	27.2	27.0	26.8	26.8	26.7	26.7	26.8	26.8	26.7	27.9	28.3	28.3	28.4	28.3
Pre-tax income	159	175	69.9	8.5	96.3	147	204	229	227	293	233	152	250	184	289	331	284	336	377	350
Tax rate	22%	15%	25%	14%	29%	23%	23%	17%	19%	19%	19%	12%	19%	20%	19%	20%	21%	18%	21%	21%
Net income	121	149	52.2	7.3	68.1	114	156	190	182	236	189	134	201	147	235	266	225	274	299	275
Net margin	5%	6%	2%	0%	3%	4%	6%	7%	6%	8%	6%	5%	6%	5%	7%	8%	7%	8%	9%	8%
Diluted EPS	$2.14	$2.65	$0.95	$0.14	$1.27	$2.12	$2.90	$3.54	$3.42	$4.47	$3.58	$2.55	$3.87	$2.83	$4.56	$5.17	$4.41	$5.41	$5.95	$5.49
Operating cash flow	255	-501	173	648	277	260	185	330	363	82.5	711	436	103	392	266	505	671	240	454	686
Capital expenditure	56.1	41.1	46.2	46.6	52.4	48.4	49.4	50.4	54.3	50.8	55.4	47.1	68.0	53.4	59.9	62.9	59.3	47.7	45.2	65.6
Free cash flow	199	-542	127	601	225	211	136	280	308	31.7	656	389	34.8	339	206	442	612	193	409	620
Buybacks	295	230	237	91.0	15.2	0.0	17.8	49.3	126	46.1	41.6	99.4	120	64.3	63.3	81.8	94.3	124	77.6	75.7
Dividends paid	39.1	37.4	38.6	36.7	37.5	37.0	39.7	37.1	38.5	37.4	39.9	37.5	41.1	40.9	42.7	40.6	44.2	44.0	47.9	43.6
Shares outstanding	56m	55m	53m	53m	53m	53m	53m	53m	52m	52m	52m	51m	51m	51m	51m	50m	50m	50m	49m	49m
Filing	10-K	10-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 19 February 2026: the filing.