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Athene Holding Ltd. (ATH.PA) stock analysis

ATH.PANYSELife InsuranceFiscal year ends December 31Also trades as ATH.PB, ATH.PD, ATH.PE, ATHS
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 8/30
$22.33−0.07 (-0.31%)

Close on Nov 13, 2026Market cap $4.55MP/E –Yield –

StockData Score

Prices as of Nov 13, 2026How the score works

Value2Growth2Performance1Health0Dividend3

Weak8 of 30 checks passed

Athene passes 8 of the 30 checks behind our score; 16 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
2/6
Growth
2/6
Past performance
1/6
Financial health
0/6
Dividend
3/6

What stands out

  • Earnings grew over 5 years

    Net income grew 12.0% a year on average over the last five fiscal years.

  • Revenue growing 10%+ a year

    Revenue grew 49.9% a year over the last three fiscal years.

  • P/S below the industry

    Athene's price-to-sales of 0.00 is below the Life Insurance median of 0.65.

  • P/B below the industry

    Athene's price-to-book of 0.00 is below the Life Insurance median of 1.11.

What to watch

  • Return on equity under 15%

    Return on equity was -9.2% over the last twelve months and averaged 16.1% over five years; we look for 15% on both.

  • Earnings growth not accelerating

    Net income grew -148% over the last twelve months, against a 5-year average of 12.0% a year.

  • Return on assets under 1%

    Return on assets was -0.3%; for a bank or insurer, 1% or more is considered good.

  • Return on equity below the industry

    Athene's return on equity of -9.2% is below the Life Insurance median of 12.6%.

Valuation2/6

  • 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 below the industry

    Athene's price-to-sales of 0.00 is below the Life Insurance median of 0.65.

  • P/B below the industry

    Athene's price-to-book of 0.00 is below the Life Insurance median of 1.11.

  • 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.

Growth2/6

  • Revenue growing 10%+ a year

    Revenue grew 49.9% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth not accelerating

    Net income grew -148% over the last twelve months, against a 5-year average of 12.0% a year.

  • Growing faster than the industry

    Revenue grew 12.6% over the last twelve months; the Life Insurance median is 7.1%.

  • 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 performance1/6

  • Return on equity under 15%

    Return on equity was -9.2% over the last twelve months and averaged 16.1% over five years; we look for 15% on both.

  • Return on assets under 1%

    Return on assets was -0.3%; for a bank or insurer, 1% or more is considered good.

  • Return on equity below the industry

    Athene's return on equity of -9.2% is below the Life Insurance median of 12.6%.

  • Earnings grew over 5 years

    Net income grew 12.0% a year on average over the last five fiscal years.

  • Net margin below its 5-year average

    Net margin was -6.4% over the last twelve months, against a 5-year average of 4.1%.

  • Net margin below the industry

    Athene's net margin of -6.4% is below the Life Insurance median of 8.1%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • 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.

Dividend3/6

  • Pays a dividend

    Athene paid dividends worth 7.1% of the share price over the last twelve months.

  • Yield above Treasuries

    The 7.1% yield is above the 4.7% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 3.8% or more; Athene yields 7.1%.

  • Dividend stability

    Fewer than five years of dividend history.

  • Earnings cover

    Needs dividends paid and net income.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Athene. 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.

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

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
$1.90M
Value traded per 1% price move
$3.77M

Downside

Low risk

Typical loss in a bad month
5.0%
Volatility (annualized)
8%
Sharpe ratio, 1 year
-1.94
Beta to the S&P 500 (5Y)
0.39

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2013 to 2025

Net margin

10.6%+0.1 pts over 5 years

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