ALL · NYQ · Financial Services
The Allstate Corporation
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 823.40
Market price
USD 263.99
Implied upside
+211.9%
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
- 28.9%
- Payout
- 18%
- Cost of equity
- 6.62%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 28.6bn | USD 33.8bn | USD 39.4bn | USD 45.2bn | USD 51.1bn | USD 56.9bn | USD 62.3bn | USD 67.1bn | USD 71.1bn | USD 74.1bn |
| Return on equity | 28.0% | 27.1% | 26.2% | 25.3% | 24.4% | 23.5% | 22.7% | 21.8% | 20.9% | 20.0% |
| Excess return | USD 6.1bn | USD 6.9bn | USD 7.7bn | USD 8.5bn | USD 9.1bn | USD 9.6bn | USD 10.0bn | USD 10.2bn | USD 10.1bn | USD 9.9bn |
| Present value | USD 5.7bn | USD 6.1bn | USD 6.4bn | USD 6.5bn | USD 6.6bn | USD 6.5bn | USD 6.4bn | USD 6.1bn | USD 5.7bn | USD 5.2bn |
| Book equity | USD 28.6bn |
| Present value of excess returns | USD 61.3bn |
| Terminal, growing at 2.50% | USD 130.0bn |
| Equity value | USD 219.9bn |
| Per share | USD 823.40 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.408 | Reported 0.116, pulled toward 1.0 (Blume) |
| Cost of equity | 6.62% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.