Aspen Insurance Holdings (AHL) Financials
Newest figures come from the 20-F for FY2025, filed Mar 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AHL SEC filings page.
Aspen Insurance Holdings Limited (AHL) reported $3.2B in revenue for fiscal year 2025, down 1.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
Aspen remains cash-generative and better capitalized, but FY2025 shows a stalled top line meeting a much heavier expense base.
FY2025 revenue fell1.2% while SG&A rose25.9% , and net profit margin fell4.3 percentage points to10.6% ; the combination indicates cost absorption pressure, not revenue-led expansion of earnings.
Liabilities were
Operating cash flow was
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Aspen Insurance Holdings Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Aspen Insurance Holdings Limited scores 66/100 on it among other insurers.
Aspen Insurance Holdings Limited reported revenue of $3.2B in fiscal year 2025, against $3.3B in fiscal year 2024. Premium Growth ranks insurers on the three-year path of the premiums they write rather than on total revenue, and Aspen Insurance Holdings Limited scores 38/100 among other insurers.
Aspen Insurance Holdings Limited funded 22.2% of its assets with shareholders' equity at the end of fiscal year 2025, holding $3.6B of equity against $16.3B of assets. Capital ranks insurers on that cushion, and Aspen Insurance Holdings Limited scores 45/100 among other insurers.
Not available for Aspen Insurance Holdings Limited, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Aspen Insurance Holdings Limited scores 79/100 on it among other insurers.
Aspen Insurance Holdings Limited reported net income of $340.2M in fiscal year 2025, against $486.1M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Aspen Insurance Holdings Limited scores 45/100 among other insurers.
Aspen Insurance Holdings Limited passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) does not pass.
Key Financial Metrics
Earnings & Revenue
Aspen Insurance Holdings Limited generated $3.2B in revenue in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Aspen Insurance Holdings Limited reported $340.2M in net income in fiscal year 2025. This represents a decrease of 30.0% from the prior year.
Aspen Insurance Holdings Limited earned $3.17 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Aspen Insurance Holdings Limited held $1.7B in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Aspen Insurance Holdings Limited's net profit margin was 10.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.3 percentage points from the prior year.
Aspen Insurance Holdings Limited's ROE was 9.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.0 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
AHL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B-1.2% | $3.3B+9.9% | $3.0B+2.6% | $2.9B+9.9% | $2.6B-7.1% | $2.8B+9.2% | $2.6B+2.4% | $2.5B-4.6% | $2.7B-9.7% | $2.9B+6.7% | $2.8B+4.0% | $2.6B+9.2% | $2.4B+4.0% | $2.3B+7.3% | $2.2B |
| SG&A Expenses | $671.4M+25.9% | $533.1M+5.9% | $503.6M+1.9% | $494.2M+18.2% | $418.0M+1.7% | $410.9M-21.2% | $521.6M+6.1% | $491.7M-2.1% | $502.2M+2.5% | $490.1M+15.6% | $424.0M-4.9% | $445.7M+21.1% | $368.1M+6.7% | $345.1M+21.3% | $284.5M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $293.6Mn/m | -$111.0M |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $314.8Mn/m | -$99.8M |
| Interest Expense | $31.7M-49.0% | $62.1M+12.5% | $55.2M+26.3% | $43.7M+205.6% | $14.3M-57.8% | $33.9M+67.8% | $20.2M-22.0% | $25.9M-12.2% | $29.5M0.0% | $29.5M0.0% | $29.5M0.0% | $29.5M-9.8% | $32.7M+5.8% | $30.9M+0.3% | $30.8M |
| Income Tax | $103.9Mn/m | -$22.0Mn/m | -$132.1Mn/m | -$78.1M-1573.6% | $5.3M-71.2% | $18.4M-19.7% | $22.9Mn/m | -$10.2Mn/m | -$15.4M-352.5% | $6.1M-57.6% | $14.4M+19.0% | $12.1M-9.7% | $13.4M-10.7% | $15.0Mn/m | -$37.2M |
| Net Income | $340.2M-30.0% | $486.1M-9.1% | $534.7M+946.4% | $51.1M+71.5% | $29.8Mn/m | -$56.4Mn/m | -$238.3Mn/m | -$146.8Mn/m | -$267.7M-231.7% | $203.3M-36.9% | $322.3M-9.2% | $355.0M+7.8% | $329.3M+17.4% | $280.4Mn/m | -$110.1M |
| EPS (Basic) | $3.18-33.1% | $4.75-11.0% | $5.34 | $0.07n/m | -$0.24 | N/A | N/A | -$2.97n/m | -$5.22 | $2.67-42.5% | $4.64-5.7% | $4.92+14.7% | $4.29+22.2% | $3.51n/m | -$1.88 |
| EPS (Diluted) | $3.17-33.3% | $4.75-11.0% | $5.34 | $0.07n/m | -$0.24 | N/A | N/A | -$2.97n/m | -$5.22 | $2.61-42.5% | $4.54-5.8% | $4.82+16.4% | $4.14+22.1% | $3.39n/m | -$1.88 |
| Diluted Shares (Avg) | 92M+0.8% | 91M0.0% | 91M | 91M | N/A | N/A | N/A | 60M-0.2% | 60M | 62M-1.3% | 63M-4.8% | 66M-5.1% | 69M-5.8% | 74M+4.3% | 71M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
AHL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.3B+3.6% | $15.7B+3.4% | $15.2B+0.4% | $15.2B+9.5% | $13.8B+5.8% | $13.1B+4.1% | $12.6B+0.4% | $12.5B-2.9% | $12.9B+6.8% | $12.1B+9.4% | $11.0B+3.1% | $10.7B+4.7% | $10.2B-0.8% | $10.3B+9.0% | $9.5B |
| Cash & Equivalents | $1.7B+81.4% | $914.2M-11.1% | $1.0B+7.2% | $959.2M-27.0% | $1.3B-24.8% | $1.7B+69.6% | $1.0B-4.9% | $1.1B+2.7% | $1.1B0.0% | $1.1B-17.2% | $1.3B+8.1% | $1.2B-8.9% | $1.3B-11.6% | $1.5B+18.1% | $1.2B |
| Goodwill | $2.1M0.0% | $2.1M-46.2% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M-83.9% | $24.2Mn/m | $0n/m | $0 | N/A | N/A | N/A |
| Total Liabilities | $12.7B+2.5% | $12.4B+0.5% | $12.3B-3.8% | $12.8B+15.6% | $11.1B+8.5% | $10.2B+3.5% | $9.9B-0.4% | $9.9B-0.9% | $10.0B+18.2% | $8.4B+10.7% | $7.6B+4.5% | $7.3B+5.3% | $6.9B+1.6% | $6.8B+8.2% | $6.3B |
| Long-Term Debt | N/A | N/A | $300.0Mn/m | $0-100.0% | $299.9M0.0% | $299.9M0.0% | $299.8M-29.4% | $424.7M-22.7% | $549.5M0.0% | $549.3M0.0% | $549.2M0.0% | $549.1M0.0% | $549.0M+10.0% | $499.1M0.0% | $499.0M |
| Total Equity | $3.6B+7.5% | $3.4B+15.9% | $2.9B+23.3% | $2.4B-15.0% | $2.8B-3.9% | $2.9B+9.9% | $2.6B-0.5% | $2.6B-9.4% | $2.9B-20.2% | $3.6B+6.7% | $3.4B0.0% | $3.4B+3.6% | $3.3B-5.4% | $3.5B+10.5% | $3.2B |
| Retained Earnings | $2.3B+14.3% | $2.0B+13.2% | $1.8B+33.0% | $1.3B-2.4% | $1.4B-1.1% | $1.4B-7.8% | $1.5B-15.4% | $1.8B-11.6% | $2.0B-15.3% | $2.4B+4.8% | $2.3B+11.4% | $2.1B+15.0% | $1.8B+15.5% | $1.5B+15.1% | $1.3B |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
AHL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $439.0M-20.9% | $554.9M+70.9% | $324.7Mn/m | -$55.0M-110.5% | $524.7Mn/m | -$672.7Mn/m | -$337.8Mn/m | -$304.5Mn/m | -$111.5M-124.6% | $453.2M-21.1% | $574.2M-5.5% | $607.4M+7.2% | $566.4M+14.1% | $496.4M+44.5% | $343.5M |
| Depreciation & Amortization | $7.9Mn/m | -$1.0M-109.1% | $11.0M-74.6% | $43.3M-18.8% | $53.3M+16.4% | $45.8M+15.1% | $39.8M+34.0% | $29.7M-14.2% | $34.6M+53.1% | $22.6M+222.9% | $7.0M-14.6% | $8.2M-43.1% | $14.4M-32.1% | $21.2M+89.3% | $11.2M |
| Stock-Based Compensation | $61.5M | N/A | N/A | N/A | N/A | $0n/m | $0-100.0% | $10.1M+3.1% | $9.8M-36.8% | $15.5M-13.4% | $17.9M+18.5% | $15.1M-29.4% | $21.4M+20.2% | $17.8M+345.0% | $4.0M |
| Investing Cash Flow | $339.8Mn/m | -$352.8Mn/m | -$172.2Mn/m | -$196.5Mn/m | -$950.3M-182.5% | $1.2B+427.3% | $218.3M-66.8% | $657.3M+56.9% | $419.0Mn/m | -$350.9Mn/m | -$501.9Mn/m | -$515.0Mn/m | -$497.9Mn/m | -$317.2Mn/m | -$210.5M |
| Financing Cash Flow | -$48.7Mn/m | -$307.9Mn/m | -$90.2Mn/m | -$84.6M-17020.0% | $500K-99.8% | $223.5M+242.8% | $65.2Mn/m | -$307.2Mn/m | -$540.4M-700.4% | $90.0Mn/m | -$133.5Mn/m | -$196.4Mn/m | -$240.8M-774.5% | $35.7Mn/m | -$72.7M |
| Dividends Paid | $0-100.0% | $195.0M+383.9% | $40.3M+0.8% | $40.0Mn/m | $0n/m | $0n/m | $0-100.0% | $42.9M-23.7% | $56.2M | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | $0n/m | $0-100.0% | $100Kn/m | $0-100.0% | $30.0M-60.0% | $75.0M-10.4% | $83.7M-53.7% | $180.9M-41.6% | $309.6M+393.8% | $62.7M+674.1% | $8.1M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
AHL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 12.6%+17.7pp | -5.1% |
| Net Margin | 10.6%-4.3pp | 14.9%-3.1pp | 18.0%+16.3pp | 1.8%+0.6pp | 1.1%+3.1pp | -2.0%+7.2pp | -9.2%-3.4pp | -5.8%+4.3pp | -10.1%-17.0pp | 6.9%-4.8pp | 11.7%-1.7pp | 13.4%-0.2pp | 13.6%+1.6pp | 12.0%+17.1pp | -5.1% |
| Return on Equity | 9.4%-5.0pp | 14.4%-4.0pp | 18.4%+16.2pp | 2.2%+1.1pp | 1.1%+3.0pp | -1.9%+7.1pp | -9.1%-3.5pp | -5.6%+3.6pp | -9.2%-14.8pp | 5.6%-3.9pp | 9.4%-1.0pp | 10.4%+0.4pp | 10.0%+1.9pp | 8.0%+11.5pp | -3.5% |
| Return on Assets | 2.1%-1.0pp | 3.1%-0.4pp | 3.5%+3.2pp | 0.3%+0.1pp | 0.2%+0.7pp | -0.4%+1.5pp | -1.9%-0.7pp | -1.2%+0.9pp | -2.1%-3.8pp | 1.7%-1.2pp | 2.9%-0.4pp | 3.3%+0.1pp | 3.2%+0.5pp | 2.7%+3.9pp | -1.2% |
| Debt-to-Equity | N/A | N/A | 0.10+0.1x | 0.00-0.1x | 0.110.0x | 0.100.0x | 0.110.0x | 0.160.0x | 0.190.0x | 0.150.0x | 0.160.0x | 0.160.0x | 0.170.0x | 0.140.0x | 0.16 |
| Liabilities-to-Equity | 3.50-0.2x | 3.67-0.6x | 4.23-1.2x | 5.43+1.4x | 3.99+0.5x | 3.53-0.2x | 3.750.0x | 3.75+0.3x | 3.43+1.1x | 2.31+0.1x | 2.23+0.1x | 2.130.0x | 2.10+0.1x | 1.960.0x | 2.00 |
| Asset Turnover | 0.200.0x | 0.210.0x | 0.190.0x | 0.190.0x | 0.190.0x | 0.220.0x | 0.210.0x | 0.200.0x | 0.210.0x | 0.240.0x | 0.250.0x | 0.250.0x | 0.240.0x | 0.230.0x | 0.23 |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Aspen Insurance Holdings Limited AHL | FY2025 | $3.2B | $340.2M | 10.6% | N/A | 55/100 |
| W.R. Berkley Corporation WRB | FY2025 | $14.7B | $1.8B | 12.1% | $28.5B | 64/100 |
| Palomar Holdings, Inc. PLMR | FY2025 | $876.0M | $197.1M | 22.5% | $3.8B | 81/100 |
| American Financial Group, Inc. AFG | FY2025 | $8.2B | $842.0M | 10.3% | $12.8B | 45/100 |
| Kinsale Capital Group, Inc. KNSL | FY2025 | $1.9B | $503.6M | 26.9% | $8.8B | 72/100 |
| White Mountains Insurance Group Ltd. WTM | FY2025 | $3.7B | $1.1B | 29.6% | $5.7B | 51/100 |
Where Aspen Insurance Holdings Limited Ranks
Frequently Asked Questions
Aspen Insurance Holdings Limited (AHL) reported $3.2B in total revenue for fiscal year 2025. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Aspen Insurance Holdings Limited (AHL) revenue declined by 1.2% year-over-year, from $3.3B to $3.2B in fiscal year 2025.
Yes, Aspen Insurance Holdings Limited (AHL) reported a net income of $340.2M in fiscal year 2025, with a net profit margin of 10.6%.
Aspen Insurance Holdings Limited (AHL) had a net profit margin of 10.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Aspen Insurance Holdings Limited (AHL) has a return on equity of 9.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Aspen Insurance Holdings Limited (AHL) generated $439.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Aspen Insurance Holdings Limited (AHL) had $16.3B in total assets as of fiscal year 2025, including both current and long-term assets.
Aspen Insurance Holdings Limited (AHL) had a liabilities-to-equity ratio of 3.50 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Aspen Insurance Holdings Limited (AHL) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Aspen Insurance Holdings Limited (AHL) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Aspen Insurance Holdings Limited (AHL) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its insurers peer group. The score is the average of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Aspen Insurance Holdings Limited it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.