American International
AIG · NYSEFire, Marine & Casualty Insurance · Fiscal year ends Dec 31
American International reported revenue of $26.8B in the fiscal year ended Dec 2025, down 1.7% from the year before. Net income was $3.1B. Net debt was $7.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $52.2B | $30B | $27.9B | $27.3B | $26.8B |
| Selling, general & admin | $8.7B | $6.2B | $5.4B | $5.5B | $5.1B |
| Interest expense | $1.3B | $603M | $516M | $462M | $396M |
| Pre-tax income | $13.3B | $3.8B | $2.9B | $3.9B | $3.9B |
| Income tax | $2.4B | $882M | $126M | $1.2B | $782M |
| Net income | $10.4B | $10.2B | $3.6B | −$1.4B | $3.1B |
| Diluted EPS | 11.95 | 12.94 | 4.98 | −2.17 | 5.43 |
| Diluted shares | 865M | 788M | 725M | 657M | 570M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.4B | $1.6B | $1.6B | $1.4B | $1.3B |
| Net PP&E | $1.8B | $1.2B | $1.1B | $1.1B | $1.4B |
| Goodwill | $4.1B | $3.8B | $3.4B | $3.4B | $3.4B |
| Total assets | $596B | $522B | $539B | $161B | $161B |
| Short-term debt | – | $1.5B | $250M | – | – |
| Long-term debt | $30.2B | $27.2B | $10.6B | $8.9B | $9.2B |
| Total liabilities | $527B | $479B | $488B | $119B | $120B |
| Shareholders' equity | $66B | $41B | $45.4B | $42.5B | $41.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $6.2B | $4.1B | $6.2B | $3.3B | $3.3B |
| Capital expenditure | $343M | $210M | $240M | – | – |
| Free cash flow | $5.9B | $3.9B | $6B | – | – |
| Depreciation & amortisation | $4.5B | $3.9B | $3.8B | $3.6B | $3.5B |
| Stock-based compensation | $278M | $288M | $199M | $211M | $207M |
| Share buybacks | $2.6B | $5.2B | $3B | $6.7B | $5.8B |
| Dividends paid | $1.1B | $982M | $997M | $1B | $976M |
| Dividend per share | 1.28 | 1.28 | 1.40 | 1.56 | 1.75 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −42.5% | −6.9% | −2.5% | −1.7% |
| EPS growth (YoY) | – | 8.3% | −61.5% | −143.6% | – |
| Net margin | 19.9% | 34.1% | 13.0% | −5.2% | 11.6% |
| Return on equityBlank when equity is negative | 15.7% | 25.0% | 8.0% | −3.3% | 7.5% |
| Free cash flow margin | 11.3% | 13.1% | 21.5% | – | – |
| Cash conversion (CFO ÷ net income) | 0.60x | 0.40x | 1.71x | −2.33x | 1.07x |
| Debt ÷ equity | 0.46x | 0.70x | 0.24x | 0.21x | 0.22x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $27.7B | $27.1B | $9.3B | $7.6B | $7.8B |
Recent filings
More in Fire, Marine & Casualty Insurance
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.