Aspen Insurance Holdings Ltd (AHL.PD) stock analysis
Close on Nov 13, 2026Market cap $1.54BP/E 5.3Yield –
StockData Score
Prices as of Nov 13, 2026How the score works
Weak5 of 30 checks passed
Aspen Insurance passes 5 of the 30 checks behind our score; 19 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 1/6
- Past performance
- 2/6
- Financial health
- 2/6
- Dividend
- 0/6
What stands out
Low debt
Debt is 8.2% of shareholders' equity, under the 40% we consider low.
EPS growing 10%+ a year
Diluted EPS grew 256% a year over the last three fiscal years.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 148% of total debt.
Return on assets over 1%
Return on assets was 2.1%; for a bank or insurer, 1% or more is considered good.
What to watch
Return on equity under 15%
Return on equity was 9.7% over the last twelve months and averaged 11.9% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew 3.7% a year over the last three fiscal years, short of the 10% we look for.
Growing slower than the industry
Revenue grew -1.2% over the last twelve months; the Fire, Marine, and Casualty Insurance median is 5.0%.
Return on equity below the industry
Aspen Insurance's return on equity of 9.7% is below the Fire, Marine, and Casualty Insurance median of 15.9%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
P/S against the industry
Not enough revenue data to compare.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth1/6
Revenue growing under 10% a year
Revenue grew 3.7% a year over the last three fiscal years, short of the 10% we look for.
EPS growing 10%+ a year
Diluted EPS grew 256% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew -1.2% over the last twelve months; the Fire, Marine, and Casualty Insurance median is 5.0%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
Banks and insurers do not report gross profit.
Past performance2/6
Return on equity under 15%
Return on equity was 9.7% over the last twelve months and averaged 11.9% over five years; we look for 15% on both.
Return on assets over 1%
Return on assets was 2.1%; for a bank or insurer, 1% or more is considered good.
Return on equity below the industry
Aspen Insurance's return on equity of 9.7% is below the Fire, Marine, and Casualty Insurance median of 15.9%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 10.6% over the last twelve months, against a 5-year average of 9.3%.
Net margin below the industry
Aspen Insurance's net margin of 10.6% is below the Fire, Marine, and Casualty Insurance median of 12.0%.
Financial health2/6
Low debt
Debt is 8.2% of shareholders' equity, under the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 148% of total debt.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
Insurers do not split assets into current and non-current.
Bankruptcy risk (Altman Z)
The Altman model does not apply to insurers.
Dividend0/6
No dividend
Aspen Insurance has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Aspen Insurance. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $1.41M
- Value traded per 1% price move
- $657.39K
Downside
Low risk
- Typical loss in a bad month
- 8.4%
- Volatility (annualized)
- 12%
- Sharpe ratio, 1 year
- -2.04
- Beta to the S&P 500 (5Y)
- 0.58
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.2% | +3.7% | +2.6% | +1.6% | |
| Net income | -30.0% | +88.1% | – | +0.5% | |
| EPS, diluted | -33.3% | +256.4% | – | +0.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 9.7% | |
| Return on assets | 1.8% | -0.4% | 2.1% | |
| Diluted shares | 93M | – | 92M |
Cash use needs five years of cash flow figures
Aspen Insurance does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.6% | 0.20× | 4.58× | 9.7% |
| FY2024 | 14.9% | 0.21× | 4.93× | 15.5% |
| FY2023 | 18.0% | 0.20× | 5.77× | 20.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$340.20M
- Cash generatingOperating cash flow above zero$439.00M
- Return on assets improvedROA up on the prior year3.2% → 2.2%
- Earnings backed by cashOperating cash flow above net income$439.00M vs $340.20M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise91M → 92M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.21 → 0.20
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