American International Group, Inc. (AIG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+309.7%

$338.56

vs $82.64 price

Levered DCF

$123.31

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.05

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.61×	-33.24×	13.5×	4.83×	4.7×	-5.54×	13.54×	-5,882.09×
P/B	1.18×	1.12×	1.07×	1.2×	0.74×	0.5×	0.69×	0.63×
P/S	1.81×	1.74×	1.74×	1.64×	0.93×	0.75×	0.9×	0.75×
EV / EBITDA	7.28×	6.94×	8.04×	9.03×	3.99×	-21.31×	7.53×	11.94×
Gross margin	34.5%	34.0%	15.6%	24.2%	38.7%	100.0%	100.0%	100.0%
Operating margin	14.5%	14.2%	10.2%	12.6%	25.7%	-16.6%	10.6%	0.5%
Net margin	11.6%	-5.1%	13.0%	34.1%	19.9%	-13.6%	6.7%	-0.0%
Current ratio	0.85×	1.28×	1.26×	3.27×	3.88×	0×	0×	0×
Debt / equity	0.22×	0.21×	0.24×	0.66×	0.46×	0.57×	0.54×	0.61×
Interest coverage	9.8×	8.37×	5.55×	6.25×	10.23×	-5.01×	3.73×	0.2×
Dividend yield	2.0%	2.2%	2.1%	2.1%	2.3%	3.4%	2.5%	3.2%
Payout ratio	31.5%	-72.9%	28.2%	9.9%	10.7%	-19.0%	33.9%	-18966.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.5%	-3.3%	8.0%	25.0%	15.7%	-9.0%	5.1%	-0.0%
Return on invested capital	5.3%	4.5%	0.6%	0.7%	2.2%	0.0%	0.0%	0.0%
Return on assets	1.9%	-0.9%	0.7%	2.0%	1.7%	-1.0%	0.6%	-0.0%
Free cash flow yield	6.9%	6.9%	12.8%	8.4%	12.8%	3.2%	-4.0%	-1.1%
Earnings yield	6.4%	-3.0%	7.5%	20.8%	21.3%	-18.1%	7.4%	-0.0%
Enterprise value	$56.3B	$55B	$58.1B	$74.4B	$76.5B	$67.6B	$77.5B	$67.1B
Net debt / EBITDA	1.02×	0.96×	1.29×	3.05×	1.46×	-10.94×	3.16×	5.64×
Cash conversion cycle (days)	556	535	552	1,039	624	94	75	85