DCF Studio

    AIG · NYQ · Financial Services

    American International Group, Inc.

    Also onShortfallConsensus DriftCrosscheck

    Implied value per share

    USD 66.64

    Market price

    USD 82.40

    Implied upside

    -19.1%

    10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31

    NoteA financial, valued on excess returns over book equity.

    Excess Returns

    Return on equity
    7.3%
    Payout
    30%
    Cost of equity
    7.64%
    LineFY26FY27FY28FY29FY30FY31FY32FY33FY34FY35
    Opening book equityUSD 41.1bnUSD 43.1bnUSD 45.1bnUSD 47.1bnUSD 49.0bnUSD 50.8bnUSD 52.6bnUSD 54.4bnUSD 56.0bnUSD 57.5bn
    Return on equity7.3%7.3%7.3%7.3%7.3%7.3%7.3%7.3%7.3%7.3%
    Excess returnUSD -146.0mUSD -153.1mUSD -160.1mUSD -167.0mUSD -173.8mUSD -180.4mUSD -186.8mUSD -192.9mUSD -198.8mUSD -204.2m
    Present valueUSD -135.7mUSD -132.2mUSD -128.4mUSD -124.4mUSD -120.3mUSD -116.0mUSD -111.6mUSD -107.1mUSD -102.5mUSD -97.9m
    Book equityUSD 41.1bn
    Present value of excess returnsUSD -1.2bn
    Terminal, growing at 2.50%USD -2.0bn
    Equity valueUSD 38.0bn
    Per shareUSD 66.64

    Discount Rate

    Risk-free rate4.89%US 10-year Treasury (^TNX), 2026-11-02
    Equity risk premium4.23%Damodaran, January 2026
    Beta0.648Reported 0.475, pulled toward 1.0 (Blume)
    Cost of equity7.64%Risk-free + beta x equity risk premium
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    Yahoo Finance and RBA data. General information, not advice. Methodology.