NYSE : AGO

Assured Guaranty Ltd. — Financial statements

Financials · Insurance - Specialty · Bermuda

Last price 70.88 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.12B

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Premiums & Annuity Revenue384.00M380.00M403.00M344.00M494.00M414.00M
Total Interest & Dividend Income373.00M359.00M340.00M365.00M269.00M269.00M
Gain (Loss) on Sale of Investments-2.00M-7.00M51.00M25.00M-66.00M-13.00M
Other Revenue-41.00M77.00M36.00M183.00M28.00M-14.00M
Total Revenue813.00M832.00M830.00M970.00M818.00M744.00M
Policy Benefits24.00M56.00M-26.00M162.00M16.00M-220.00M
Policy Acquisition & Underwriting Costs22.00M22.00M20.00M13.00M14.00M14.00M
Other Operating Expenses180.00M174.00M157.00M214.00M167.00M163.00M
Total Operating Expenses500.00M461.00M353.00M640.00M455.00M187.00M
Operating Income313.00M371.00M477.00M330.00M363.00M557.00M
Interest Expense-88.00M-89.00M-91.00M-90.00M-81.00M-87.00M
Earnings From Equity Investments66.00M102.00M62.00M28.00M-39.00M94.00M
Currency Exchange Gain (Loss)-41.00M96.00M-27.00M53.00M-112.00M-23.00M
EBT Excluding Unusual Items250.00M480.00M421.00M321.00M131.00M541.00M
Merger & Restructuring Charges-4.00M
Gain (Loss) on Sale of Assets262.00M
Asset Writedown65.00M79.00M67.00M85.00M17.00M111.00M
Legal Settlements103.00M103.00M
Other Unusual Items-175.00M
Pretax Income414.00M662.00M488.00M668.00M148.00M477.00M
Income Tax Expense37.00M119.00M96.00M-93.00M11.00M58.00M
Earnings From Continuing Ops.377.00M543.00M392.00M761.00M137.00M419.00M
Minority Interest in Earnings-26.00M-40.00M-16.00M-22.00M-13.00M-30.00M
Net Income351.00M503.00M376.00M739.00M124.00M389.00M
Preferred Dividends & Other Adjustments3.00M4.00M3.00M6.00M1.00M
Net Income to Common348.00M499.00M373.00M733.00M123.00M389.00M
Shares Outstanding (Basic)45.65M48.10M53.30M58.40M62.90M73.50M
Shares Outstanding (Diluted)46.15M48.70M54.30M59.60M63.90M74.30M
EPS (Basic)7.6210.377.0012.551.965.29
EPS (Diluted)7.5410.266.8712.301.925.23
Dividend Per Share1.441.361.241.121.000.88
Operating Margin38.50%44.59%57.47%34.02%44.38%74.87%
Profit Margin42.80%59.98%44.94%75.57%15.04%52.29%
EBITDA479.00M332.00M374.00M569.00M
EBITDA Margin57.71%34.23%45.72%76.48%
D&A For EBITDA2.00M2.00M11.00M12.00M
EBIT313.00M371.00M477.00M330.00M363.00M557.00M
EBIT Margin38.50%44.59%57.47%34.02%44.38%74.87%
Effective Tax Rate8.94%17.98%19.67%7.43%12.16%
Revenue as Reported940.00M1.11B872.00M1.37B723.00M848.00M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Investments in Debt Securities6.82B6.37B6.37B6.31B7.12B8.30B
Investments in Equity & Preferred Securities1.07B1.25B1.01B906.00M557.00M421.00M
Other Investments911.00M915.00M1.23B1.92B1.18B1.54B
Total Investments8.93B8.65B8.76B9.45B9.16B10.27B
Cash & Equivalents317.00M396.00M123.00M132.00M204.00M340.00M
Reinsurance Recoverable3.00M5.00M
Other Receivables2.04B2.09B2.02B1.84B6.30B6.64B
Deferred Policy Acquisition Cost201.00M192.00M176.00M161.00M147.00M131.00M
Property, Plant & Equipment54.00M60.00M71.00M87.00M100.00M
Goodwill117.00M117.00M
Other Intangible Assets46.00M58.00M
Restricted Cash1.00M1.00M5.00M1.00M2.00M
Other Current Assets296.00M30.00M
Long-Term Deferred Tax Assets246.00M262.00M250.00M114.00M
Other Long-Term Assets856.00M510.00M492.00M642.00M664.00M546.00M
Total Assets12.64B12.18B11.90B12.54B16.84B18.21B
Accrued Expenses112.00M570.00M
Insurance & Annuity Liabilities1.05B309.00M268.00M376.00M296.00M869.00M
Unearned Premiums3.60B3.62B3.72B3.66B3.62B3.72B
Reinsurance Payable16.00M
Current Portion of Leases13.00M
Short-Term Debt35.00M37.00M
Current Income Taxes Payable68.00M13.00M9.00M43.00M
Long-Term Debt1.71B1.70B1.70B1.69B1.99B1.80B
Long-Term Leases62.00M84.00M97.00M116.00M136.00M
Long-Term Deferred Tax Liabilities33.00M
Other Current Liabilities14.00M19.00M29.00M53.00M184.00M197.00M
Other Long-Term Liabilities693.00M587.00M536.00M887.00M5.20B4.29B
Total Liabilities7.06B6.39B6.35B6.77B11.55B11.71B
Common Stock1.00M1.00M1.00M1.00M
Retained Earnings5.81B5.83B5.88B6.07B5.58B5.99B
Comprehensive Income & Other-250.00M-167.00M-384.00M-358.00M-514.00M301.00M
Total Common Equity5.56B5.66B5.50B5.71B5.06B6.29B
Minority Interest23.00M126.00M58.00M52.00M228.00M208.00M
Shareholders' Equity5.58B5.79B5.55B5.76B5.29B6.50B
Total Liabilities & Equity12.64B12.18B11.90B12.54B16.84B18.21B
Filing Date Shares Outstanding43.96M44.93M50.08M55.42M59.02M66.01M
Total Common Shares Outstanding44.03M45.16M50.48M56.18M58.98M67.47M
Total Debt1.71B1.78B1.78B1.79B2.14B1.97B
Net Cash (Debt)-1.39B-1.38B-1.66B-1.66B-1.94B-1.63B
Net Cash Per Share-30.10-28.40-30.57-27.84-30.28-21.97
Book Value Per Share126.25125.39108.85101.6985.8693.25
Tangible Book Value5.56B5.66B5.50B5.71B4.90B6.12B
Tangible Book Value Per Share126.25125.39108.85101.6983.1090.66

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income351.00M503.00M376.00M739.00M124.00M389.00M
Depreciation & Amortization12.00M
Gain (Loss) on Sale of Assets-262.00M
Gain (Loss) on Sale of Investments-55.00M-55.00M-74.00M-62.00M71.00M13.00M
Change in Accounts Receivable-18.00M-18.00M-80.00M-157.00M74.00M
Change in Unearned Revenue-96.00M-96.00M62.00M26.00M-93.00M-17.00M
Change in Income Taxes63.00M63.00M-6.00M72.00M-106.00M64.00M
Change in Insurance Reserves / Liabilities-10.00M-10.00M-202.00M35.00M-1.21B-99.00M
Change in Other Net Operating Assets-115.00M-115.00M-40.00M-209.00M-39.00M46.00M
Other Operating Activities250.00M33.00M26.00M300.00M-1.35B-2.25B
Operating Cash Flow324.00M259.00M47.00M461.00M-2.48B-1.94B
Cash Acquisitions-145.00M
Investment in Securities313.00M560.00M765.00M114.00M1.66B-33.00M
Other Investing Activities87.00M81.00M15.00M172.00M81.00M56.00M
Investing Cash Flow255.00M641.00M780.00M286.00M1.74B23.00M
Long-Term Debt Issued345.00M2.40B5.50B
Total Debt Repaid-16.00M-16.00M-375.00M-645.00M-1.27B-3.03B
Net Debt Issued (Repaid)-16.00M-16.00M-375.00M-300.00M1.13B2.47B
Repurchases of Common Stock-389.00M-534.00M-532.00M-219.00M-514.00M-496.00M
Common Dividends Paid-68.00M-68.00M-68.00M-67.00M-64.00M-66.00M
Other Financing Activities-96.00M2.00M-8.00M-84.00M56.00M53.00M
Financing Cash Flow-569.00M-616.00M-983.00M-670.00M612.00M1.96B
Foreign Exchange Rate Adjustments-4.00M7.00M-2.00M2.00M-8.00M-2.00M
Net Cash Flow6.00M291.00M-158.00M79.00M-135.00M44.00M
Levered Free Cash Flow14.62M411.25M738.25M-843.00M381.25M407.75M
Unlevered Free Cash Flow69.62M466.88M795.12M-786.75M431.88M462.12M
Cash Interest Paid85.00M85.00M88.00M77.00M77.00M80.00M
Cash Income Tax Paid51.00M51.00M90.00M4.00M105.00M24.00M
Change in Working Capital-176.00M-176.00M-266.00M-233.00M-1.37B-6.00M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization3.10B4.14B4.58B4.28B3.73B3.50B
Enterprise Value4.49B5.77B6.18B5.91B5.64B5.33B
PE Ratio9.348.3012.285.8430.359.01
PS Ratio3.814.985.524.414.564.71
PB Ratio0.560.710.820.740.700.54
P/OCF Ratio9.5615.9997.449.29
EV/Sales Ratio5.526.937.456.096.897.16
EV/EBITDA Ratio12.9117.8015.089.36
EV/EBIT Ratio14.3415.5412.9717.9115.539.56
Debt / Equity Ratio0.310.310.320.310.400.30
Debt / EBITDA Ratio5.234.633.645.215.543.38
Net Debt / Equity Ratio0.250.240.300.290.370.25
Net Debt / EBITDA Ratio3.475.005.172.87
Quick Ratio0.880.930.921.040.790.88
Current Ratio0.990.950.941.060.810.90
Asset Turnover0.070.070.070.070.050.04
Return on Equity (ROE)6.67%9.57%6.93%13.76%2.32%6.35%
Return on Assets (ROA)1.58%1.93%2.44%1.40%1.29%2.08%
Return on Invested Capital (ROIC)3.92%4.08%5.15%4.40%4.23%5.91%
Earnings Yield10.70%12.14%8.21%17.26%3.32%11.10%
Dividend Yield2.16%1.48%1.37%1.47%1.58%1.69%
Payout Ratio20.15%13.52%18.09%9.07%51.61%16.97%
Buyback Yield / Dilution10.04%10.31%8.89%6.73%14.00%13.80%
Total Shareholder Return12.20%11.80%10.26%8.20%15.58%15.50%