Assured Guaranty (AGO) Financials

$84.06 -0.08 (-0.10%)

As of 01:07 PM Eastern

Annual Income Statements for Assured Guaranty

This table shows Assured Guaranty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	376	739	124	389	362	402	521	730	779	1,056
Consolidated Net Income / (Loss)	392	761	137	419	368	401	521	730	881	1,056
Net Income / (Loss) Continuing Operations	392	761	137	419	368	401	521	730	779	1,056
Total Pre-Tax Income	488	668	148	477	413	464	580	991	1,017	1,431
Total Operating Income	426	640	187	383	386	460	579	991	1,017	1,431
Total Gross Profit	898	1,211	707	1,068	912	870	937	1,351	1,382	1,783
Total Revenue	872	1,373	723	848	1,115	963	1,001	1,739	1,677	2,207
Operating Revenue	872	1,373	723	848	1,115	963	1,001	1,739	1,677	2,207
Total Cost of Revenue	-26	162	16	-220	203	93	64	388	295	424
Operating Cost of Revenue	-26	162	16	-220	203	93	64	388	295	424
Total Operating Expenses	472	571	520	685	526	410	358	360	365	352
Selling, General & Admin Expense	159	217	167	179	197	125	96	101	245	231
Amortization Expense	20	13	14	14	16	18	16	19	18	20
Other Operating Expenses / (Income)	293	341	339	492	313	267	246	240	102	101
Total Other Income / (Expense), net	62	28	-39	94	27	4.00	1.00	0.00	-102	0.00
Interest & Investment Income	62	28	-39	94	27	4.00	1.00	0.00	-	-
Income Tax Expense	96	-93	11	58	45	63	59	261	136	375
Net Income / (Loss) Attributable to Noncontrolling Interest	16	22	13	30	6.00	-1.00	0.00	0.00	-	-
Basic Earnings per Share	$7.01	$12.54	$1.95	$5.29	$4.22	$4.04	$4.73	$6.05	$6.61	$7.12
Weighted Average Basic Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Diluted Earnings per Share	$6.87	$12.30	$1.92	$5.23	$4.19	$4.00	$4.68	$5.96	$6.56	$7.08
Weighted Average Diluted Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Weighted Average Basic & Diluted Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Cash Dividends to Common per Share	$0.31	-	$1.00	$0.22	$0.20	$0.18	$0.64	$0.57	$0.52	$0.48

This table shows Assured Guaranty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	176	18	171	78	109	376	157	125	81	94	11
Consolidated Net Income / (Loss)	185	22	176	81	113	379	159	126	97	82	5.00
Net Income / (Loss) Continuing Operations	185	24	176	79	113	379	159	126	97	82	5.00
Total Pre-Tax Income	229	30	220	94	144	202	202	144	120	99	-22
Total Operating Income	176	15	202	89	120	199	184	139	118	107	-2.00
Total Gross Profit	305	130	320	202	246	324	303	305	279	247	116
Total Revenue	345	156	269	202	245	327	403	360	283	292	41
Operating Revenue	345	156	269	202	245	327	403	360	283	292	41
Total Cost of Revenue	40	28	-51	-2.00	-1.00	3.00	100	55	4.00	45	-75
Operating Cost of Revenue	40	28	-51	-2.00	-1.00	3.00	100	55	4.00	45	-75
Total Operating Expenses	129	114	118	115	125	125	119	166	161	140	118
Selling, General & Admin Expense	42	35	44	41	39	47	44	71	55	47	37
Amortization Expense	5.00	6.00	5.00	3.00	6.00	3.00	4.00	3.00	3.00	3.00	4.00
Other Operating Expenses / (Income)	82	72	69	71	81	75	71	92	103	90	77
Total Other Income / (Expense), net	53	15	18	5.00	24	3.00	18	5.00	2.00	-8.00	-20
Interest & Investment Income	53	15	18	5.00	24	3.00	18	5.00	2.00	-8.00	-20
Income Tax Expense	44	8.00	44	13	31	-177	43	18	23	17	-27
Net Income / (Loss) Attributable to Noncontrolling Interest	9.00	4.00	5.00	3.00	4.00	3.00	2.00	1.00	16	-12	-6.00
Basic Earnings per Share	$3.49	$0.41	$3.23	$1.43	$1.94	$6.43	$2.65	$2.09	$1.37	$1.51	$0.18
Weighted Average Basic Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M
Diluted Earnings per Share	$3.44	$0.40	$3.17	$1.41	$1.89	$6.30	$2.60	$2.06	$1.34	$1.50	$0.18
Weighted Average Diluted Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M
Weighted Average Basic & Diluted Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M

This table details how cash moves in and out of Assured Guaranty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-158	79	-135	44	115	79	-40	17	-39	72
Net Cash From Operating Activities	47	461	-2,479	-1,937	-853	-509	462	433	-132	-71
Net Cash From Continuing Operating Activities	47	461	-2,479	-1,937	-853	-509	462	433	-132	-71
Net Income / (Loss) Continuing Operations	392	761	137	419	368	401	521	730	881	1,056
Consolidated Net Income / (Loss)	392	761	137	419	368	401	521	730	881	1,056
Amortization Expense	-23	-37	5.00	0.00	-	-35	31	-46	-34	-25
Non-Cash Adjustments To Reconcile Net Income	-276	115	-2,607	-2,328	-1,133	-913	-254	-333	-947	-632
Changes in Operating Assets and Liabilities, net	-46	-378	-14	-28	-88	38	162	82	-32	-470
Net Cash From Investing Activities	780	286	1,740	23	788	1,169	297	345	1,076	994
Net Cash From Continuing Investing Activities	780	286	1,740	23	788	1,169	297	345	1,076	994
Purchase of Investments	-1,474	-754	-459	-1,315	-1,484	-1,102	-2,208	-2,807	-1,836	-1,680
Sale of Property, Plant & Equipment	41	29	36	-	-	-	-	-	-	-
Sale and/or Maturity of Investments	2,198	839	2,082	1,282	2,188	2,317	2,410	2,938	2,727	3,005
Other Investing Activities, net	15	172	81	56	84	99	95	119	620	469
Net Cash From Financing Activities	-983	-670	612	1,960	183	-584	-795	-766	-978	-847
Net Cash From Continuing Financing Activities	-983	-670	612	1,960	183	-584	-795	-766	-978	-847
Repayment of Debt	2.00	-151	-1,163	-2,955	-242	-325	-108	-38	-2.00	-4.00
Repurchase of Common Equity	-502	-199	-500	-496	-446	-500	-500	-501	-308	-562
Payment of Dividends	-78	-147	-90	-78	-112	-78	-71	-70	-69	-72
Issuance of Debt	0.00	-4.00	2,404	5,503	972	482	0.00	0.00	-	-
Other Financing Activities, net	-405	-169	-39	-14	11	-163	-116	-157	-599	-209
Effect of Exchange Rate Changes	-2.00	2.00	-8.00	-2.00	-3.00	3.00	-4.00	5.00	-5.00	-4.00
Cash Interest Paid	88	77	77	80	81	84	99	77	95	95
Cash Income Taxes Paid	90	4.00	105	24	-25	4.00	-4.00	10	74	103

This table details how cash moves in and out of Assured Guaranty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-36	-46	65	-103	-74	429	111	-71	-390	-1,918	68
Net Cash From Operating Activities	87	46	17	58	-74	203	-178	124	312	-631	-54
Net Cash From Continuing Operating Activities	0.00	47	-	-	0.00	461	-	-	0.00	-2,479	-
Net Income / (Loss) Continuing Operations	0.00	392	-	-	0.00	761	-	-	0.00	137	-
Net Cash From Investing Activities	134	236	204	87	253	103	311	-34	-94	612	70
Net Cash From Continuing Investing Activities	134	236	204	87	253	103	311	-34	-94	612	70
Purchase of Investments	-359	-402	-393	-302	-377	-152	-284	-71	-247	-127	-116
Sale of Property, Plant & Equipment	10	6.00	2.00	16	17	13	5.00	6.00	5.00	1.00	1.00
Sale and/or Maturity of Investments	482	631	591	368	608	143	530	24	142	729	155
Other Investing Activities, net	1.00	1.00	4.00	5.00	5.00	85	74	7.00	6.00	9.00	30
Net Cash From Financing Activities	-170	-324	-159	-173	-327	-137	-200	-37	-296	-43	-4.00
Net Cash From Continuing Financing Activities	-170	-324	-159	-173	-327	-137	-200	-37	-296	-43	-4.00
Repayment of Debt	1.00	-	30	-	-28	349	-314	11	-197	-72	31
Repurchase of Common Equity	-120	-90	-131	-152	-129	-109	-64	-24	-2.00	-100	-97
Payment of Dividends	-19	-16	-23	-17	-22	-16	-24	-19	-88	-22	-19
Other Financing Activities, net	-32	-218	-35	-4.00	-148	-12	-143	-5.00	-9.00	1.00	-10
Cash Interest Paid	21	22	21	23	22	22	14	31	10	30	9.00
Cash Income Taxes Paid	-3.00	31	1.00	-	-	1.00	1.00	-	-	8.00	-

This table presents Assured Guaranty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	11,901	12,539	16,843	18,208	15,334	14,326	13,603	14,433	14,151	14,544
Total Current Assets	3,040	9,851	9,637	2,717	11,158	169	104	11,733	720	11,922
Cash & Equivalents	121	97	107	120	162	169	104	144	118	166
Short-Term Investments	1,368	8,286	8,232	1,225	9,624	-	-	10,674	590	11,023
Other Current Assets	1,551	1,468	1,298	1,372	1,372	-	-	915	-	693
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	8,861	2,688	7,206	15,491	4,176	14,157	13,499	2,581	13,431	2,622
Long-Term Investments	7,295	829	133	8,383	214	10,240	10,873	721	10,395	169
Other Noncurrent Operating Assets	1,566	1,859	6,910	6,933	3,759	3,701	2,602	1,860	1,963	2,177
Total Liabilities & Shareholders' Equity	11,901	12,539	16,843	18,208	15,334	14,326	13,603	14,433	14,151	14,544
Total Liabilities	6,348	6,774	11,551	11,708	8,629	7,674	7,048	7,594	7,647	8,481
Total Current Liabilities	0.00	0.00	0.00	0.00	0.00	4,786	4,689	0.00	0.00	0.00
Total Noncurrent Liabilities	6,348	6,774	11,551	11,708	8,629	2,895	2,359	7,594	7,647	8,481
Long-Term Debt	1,699	1,694	1,675	1,673	1,224	1,235	1,233	1,292	1,306	1,300
Other Noncurrent Operating Liabilities	4,649	5,080	9,876	10,035	7,405	1,660	1,126	6,302	6,341	7,181
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,553	5,765	5,292	6,478	6,684	6,645	6,555	6,839	6,504	6,063
Total Preferred & Common Equity	5,495	5,713	5,064	6,292	6,643	6,639	6,555	6,839	6,504	6,063
Total Common Equity	5,495	5,713	5,064	6,292	6,643	6,639	6,555	6,839	6,504	6,063
Common Stock	1.00	1.00	1.00	1.00	1.00	1.00	87	574	1,061	1,343
Retained Earnings	5,878	6,070	5,577	5,990	6,143	6,295	6,374	5,892	5,289	4,478
Accumulated Other Comprehensive Income / (Loss)	-385	-359	-515	300	498	342	93	372	149	237
Other Equity Adjustments	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	5.00	5.00
Noncontrolling Interest	58	52	228	186	41	6.00	0.00	-	-	-

This table presents Assured Guaranty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	11,938	12,291	12,088	12,168	11,944	16,852	16,778	16,660
Total Current Assets	9,455	9,594	9,508	9,577	9,527	10,230	10,133	8,088
Cash & Equivalents	177	147	92	115	108	114	118	131
Short-Term Investments	7,710	7,934	7,944	8,012	8,043	8,478	8,442	7,957
Other Current Assets	1,568	1,513	1,472	1,450	1,376	1,417	1,346	-
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,483	2,697	2,580	2,591	2,417	6,622	6,645	8,572
Long-Term Investments	960	912	882	875	765	146	140	523
Other Noncurrent Operating Assets	1,523	1,785	1,698	1,716	1,646	6,470	6,499	7,883
Total Liabilities & Shareholders' Equity	11,938	12,291	12,088	12,168	11,944	16,852	16,778	16,660
Total Liabilities	6,281	6,509	6,493	6,486	6,643	11,397	11,363	11,486
Total Current Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4,478
Total Noncurrent Liabilities	6,281	6,509	6,493	6,486	6,643	11,397	11,363	7,008
Long-Term Debt	1,700	1,698	1,696	1,695	1,693	1,677	1,676	1,675
Other Noncurrent Operating Liabilities	4,581	4,811	4,797	4,791	4,950	9,670	9,636	5,333
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,657	5,782	5,595	5,682	5,301	5,455	5,415	5,153
Total Preferred & Common Equity	5,590	5,728	5,539	5,629	5,252	5,276	5,220	4,929
Total Common Equity	5,590	5,728	5,539	5,629	5,252	5,276	5,220	4,929
Common Stock	0.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Retained Earnings	5,903	5,957	5,929	6,014	5,815	5,732	5,638	5,579
Accumulated Other Comprehensive Income / (Loss)	-314	-231	-392	-387	-565	-458	-420	-652
Other Equity Adjustments	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Noncontrolling Interest	67	54	56	53	49	179	195	224

This table displays calculated financial ratios and metrics derived from Assured Guaranty's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-36.49%	89.90%	-14.74%	-23.95%	15.78%	-3.80%	-42.44%	3.70%	-24.01%	10.68%
EBITDA Growth	-33.17%	214.06%	-51.64%	-1.24%	-5.41%	-30.33%	-35.45%	-3.87%	-30.09%	-7.19%
EBIT Growth	-33.44%	242.25%	-51.17%	-0.78%	-16.09%	-20.55%	-41.57%	-2.56%	-28.93%	-6.53%
NOPAT Growth	-53.07%	321.20%	-48.55%	-2.18%	-13.48%	-23.56%	-18.46%	-17.14%	-16.57%	-2.94%
Net Income Growth	-48.49%	455.47%	-67.30%	13.86%	-8.23%	-23.03%	-28.63%	-17.14%	-16.57%	-2.94%
EPS Growth	-44.15%	540.63%	-63.29%	24.82%	4.75%	-14.53%	-21.48%	-9.15%	-7.34%	13.10%
Operating Cash Flow Growth	-89.80%	118.60%	-27.98%	-127.08%	-67.58%	-210.17%	6.70%	428.03%	-85.92%	-112.31%
Free Cash Flow Firm Growth	-87.60%	693.74%	168.55%	-57.44%	56.54%	-244.13%	-81.11%	438.55%	-72.33%	42.51%
Invested Capital Growth	12.61%	-16.48%	3.22%	24.92%	18.11%	20.70%	9.58%	-7.11%	17.57%	9.29%
Revenue Q/Q Growth	-16.40%	2.62%	4.18%	-12.03%	8.04%	9.43%	-6.36%	-9.80%	-15.39%	-6.20%
EBITDA Q/Q Growth	-35.73%	7.49%	-51.88%	62.70%	3.34%	-3.41%	-6.59%	-15.93%	-27.08%	-13.80%
EBIT Q/Q Growth	-30.16%	16.79%	-51.30%	67.25%	3.49%	8.75%	-8.82%	-10.40%	-23.53%	-10.73%
NOPAT Q/Q Growth	-50.57%	62.01%	-49.04%	63.86%	-2.08%	13.68%	7.24%	-16.57%	-20.84%	-8.89%
Net Income Q/Q Growth	-47.66%	64.01%	-59.35%	46.50%	3.66%	13.60%	14.85%	-16.57%	-20.84%	-8.89%
EPS Q/Q Growth	-46.20%	64.00%	-52.00%	58.01%	6.89%	15.27%	8.08%	-13.50%	-18.81%	-1.26%
Operating Cash Flow Q/Q Growth	-76.96%	223.59%	-24.39%	2.22%	-5.57%	-99.61%	14.39%	5.35%	40.27%	-137.17%
Free Cash Flow Firm Q/Q Growth	-57.21%	60.17%	-72.68%	-234.46%	79.55%	-146.89%	151.74%	25.36%	-58.18%	13.71%
Invested Capital Q/Q Growth	-1.26%	8.79%	14.59%	5.81%	-8.43%	10.29%	5.25%	-0.97%	8.50%	6.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	102.98%	88.20%	97.79%	125.94%	81.79%	90.34%	187.21%	77.69%	82.41%	80.79%
EBITDA Margin	46.22%	43.92%	26.56%	46.82%	36.05%	44.13%	128.76%	54.34%	58.62%	63.71%
Operating Margin	48.85%	46.61%	25.86%	45.17%	34.62%	47.77%	126.24%	56.99%	60.64%	64.84%
EBIT Margin	48.85%	46.61%	25.86%	45.17%	34.62%	47.77%	57.84%	56.99%	60.64%	64.84%
Profit (Net Income) Margin	44.95%	55.43%	18.95%	49.41%	33.00%	41.64%	52.05%	41.98%	52.53%	47.85%
Tax Burden Percent	80.33%	113.92%	92.57%	87.84%	89.10%	86.42%	0.00%	73.66%	86.63%	73.79%
Interest Burden Percent	114.55%	104.38%	79.14%	124.54%	106.99%	100.87%	0.00%	100.00%	100.00%	100.00%
Effective Tax Rate	19.67%	-13.92%	7.43%	12.16%	10.90%	13.58%	0.00%	26.34%	13.37%	26.21%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	6.93%	13.77%	2.32%	6.35%	5.51%	6.08%	15.56%	10.94%	14.02%	17.87%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	3.49%	4.36%	1.07%	2.28%	2.60%	3.29%	4.13%	6.93%	7.09%	9.71%
Return on Assets (ROA)	3.21%	5.18%	0.78%	2.50%	2.48%	2.87%	3.72%	5.11%	6.14%	7.17%
Return on Common Equity (ROCE)	6.86%	13.42%	2.24%	6.22%	5.49%	6.07%	15.56%	10.94%	14.02%	17.87%
Return on Equity Simple (ROE_SIMPLE)	7.13%	13.32%	2.71%	6.66%	5.54%	6.04%	7.95%	10.67%	13.55%	17.42%
Net Operating Profit after Tax (NOPAT)	342	729	173	336	344	398	520	730	881	1,056
NOPAT Margin	39.24%	53.10%	23.94%	39.67%	30.85%	41.28%	51.96%	41.98%	52.53%	47.85%
Net Nonoperating Expense Percent (NNEP)	0.68%	0.45%	-0.49%	0.98%	0.27%	0.04%	0.01%	0.00%	0.00%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	4.72%	9.77%	2.48%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	-2.98%	11.80%	2.21%	-25.94%	18.21%	9.66%	6.39%	22.31%	17.59%	19.21%
SG&A Expenses to Revenue	18.23%	15.80%	23.10%	21.11%	17.67%	12.98%	19.18%	5.81%	14.61%	10.47%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	54.13%	41.59%	71.92%	80.78%	47.17%	42.58%	77.92%	20.70%	21.77%	15.95%
Earnings before Interest and Taxes (EBIT)	426	640	187	383	386	460	579	991	1,017	1,431
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	403	603	192	397	402	425	610	945	983	1,406
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.83	0.74	0.71	0.53	0.36	0.64	0.55	0.51	0.66	0.52
Price to Tangible Book Value (P/TBV)	0.83	0.74	0.74	0.55	0.37	0.66	0.55	0.51	0.66	0.52
Price to Revenue (P/Rev)	5.25	3.07	4.99	3.94	2.14	4.42	3.62	2.01	2.55	1.44
Price to Earnings (P/E)	12.19	5.71	29.11	8.59	6.58	10.59	6.95	4.80	5.49	3.01
Dividend Yield	1.38%	1.52%	1.66%	1.84%	2.71%	1.61%	3.73%	1.91%	1.59%	2.13%
Earnings Yield	8.21%	17.51%	3.43%	11.64%	15.20%	9.45%	14.38%	20.84%	18.22%	33.19%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.31	0.29	0.32	0.26	0.18	0.19	0.00	0.19	0.20	0.21
Long-Term Debt to Equity	0.31	0.29	0.32	0.26	0.18	0.19	0.00	0.19	0.20	0.21
Financial Leverage	-1.29	-1.29	-1.26	-1.27	-1.34	-1.43	-2.99	-1.51	-1.58	-1.71
Leverage Ratio	2.16	2.66	2.97	2.54	2.22	2.12	4.20	2.14	2.28	2.49
Compound Leverage Factor	2.47	2.77	2.35	3.16	2.38	2.13	0.00	2.14	2.28	2.49
Debt to Total Capital	23.43%	22.71%	24.04%	20.47%	15.44%	15.67%	0.00%	15.89%	16.72%	17.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	23.43%	22.71%	24.04%	20.47%	15.44%	15.67%	0.00%	15.89%	16.72%	17.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.80%	0.70%	3.27%	2.55%	0.78%	0.08%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.77%	76.59%	72.69%	76.99%	83.78%	84.25%	0.00%	84.11%	83.28%	82.34%
Debt to EBITDA	4.22	2.81	8.72	4.21	3.04	2.91	2.02	1.37	1.33	0.92
Net Debt to EBITDA	-17.58	-12.47	-35.40	-20.29	-21.83	-21.59	-15.97	-10.84	-9.97	-7.15
Long-Term Debt to EBITDA	4.22	2.81	8.72	4.21	3.04	2.91	11.81	1.37	1.33	0.92
Debt to NOPAT	4.97	2.32	9.68	4.97	3.56	3.11	2.37	1.77	1.48	1.23
Net Debt to NOPAT	-20.70	-10.31	-39.27	-23.94	-25.52	-23.08	-18.73	-14.04	-11.12	-9.52
Long-Term Debt to NOPAT	4.97	2.32	9.68	4.97	3.56	3.11	2.37	1.77	1.48	1.23
Altman Z-Score	1.62	2.27	1.42	0.93	1.76	0.73	0.77	2.17	1.28	2.12
Noncontrolling Interest Sharing Ratio	0.97%	2.53%	3.70%	2.04%	0.51%	0.05%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.00	0.00	0.00
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	121	977	123	-180	-114	-262	182	964	179	647
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.09	0.04	0.05	0.08	0.07	0.15	0.12	0.12	0.15
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1,532	-1,753	-1,505	-1,555	-2,071	-2,529	-3,189	-3,527	-3,293	-3,995
Invested Capital Turnover	-0.53	-0.84	-0.47	-0.47	-0.48	-0.34	-0.60	-0.51	-0.46	-0.53
Increase / (Decrease) in Invested Capital	221	-248	50	516	458	660	338	-234	702	409
Enterprise Value (EV)	-2,445	-3,245	-2,959	-4,505	-6,333	-4,912	-6,121	-6,744	-5,522	-6,876
Market Capitalization	4,582	4,221	3,610	3,342	2,381	4,256	3,623	3,503	4,275	3,182
Book Value per Share	$107.96	$99.78	$84.41	$90.08	$82.21	$69.60	$62.03	$58.23	$49.89	$42.90
Tangible Book Value per Share	$107.96	$99.78	$81.69	$87.57	$79.70	$67.33	$61.81	$58.23	$49.89	$42.90
Total Capital	7,252	7,459	6,967	8,173	7,929	7,880	7,788	8,131	7,810	7,363
Total Debt	1,699	1,694	1,675	1,673	1,224	1,235	1,233	1,292	1,306	1,300
Total Long-Term Debt	1,699	1,694	1,675	1,673	1,224	1,235	1,233	1,292	1,306	1,300
Net Debt	-7,085	-7,518	-6,797	-8,055	-8,776	-9,174	-9,744	-10,247	-9,797	-10,058
Capital Expenditures (CapEx)	-41	-29	-36	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,551	1,468	1,298	1,372	1,372	-4,786	-4,689	915	12	733
Debt-free Net Working Capital (DFNWC)	3,040	9,851	9,637	2,717	11,158	-4,617	-4,585	11,733	720	11,922
Net Working Capital (NWC)	3,040	9,851	9,637	2,717	11,158	-4,617	-4,585	11,733	720	11,922
Net Nonoperating Expense (NNE)	-50	-32	36	-83	-24	-3.46	-0.90	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	-7,085	-7,518	-6,797	-8,055	-8,776	-9,174	-9,744	-10,366	-9,797	-10,058
Total Depreciation and Amortization (D&A)	-23	-37	5.00	14	16	-35	31	-46	-34	-25
Debt-free, Cash-free Net Working Capital to Revenue	177.87%	106.92%	179.53%	161.79%	123.05%	-496.99%	-468.43%	52.62%	0.72%	33.21%
Debt-free Net Working Capital to Revenue	348.62%	717.48%	1,332.92%	320.40%	1,000.72%	-479.44%	-899.76%	674.70%	42.93%	540.19%
Net Working Capital to Revenue	348.62%	717.48%	1,332.92%	320.40%	1,000.72%	-479.44%	-899.76%	674.70%	42.93%	540.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.01	$12.54	$1.95	$5.29	$4.22	$4.04	$4.73	$6.05	$6.61	$7.12
Adjusted Weighted Average Basic Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Adjusted Diluted Earnings per Share	$6.87	$12.30	$1.92	$5.23	$4.19	$4.00	$4.68	$5.96	$6.56	$7.08
Adjusted Weighted Average Diluted Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.10M	55.46M	59.06M	66.06M	153.30M	92.58M	103.09M	115.33M	125.02M	135.93M
Normalized Net Operating Profit after Tax (NOPAT)	342	448	173	336	344	398	520	730	881	1,056
Normalized NOPAT Margin	39.24%	32.63%	23.94%	39.67%	30.85%	41.28%	51.96%	41.98%	52.53%	47.85%
Pre Tax Income Margin	55.96%	48.65%	20.47%	56.25%	37.04%	48.18%	115.88%	56.99%	60.64%	64.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.90%	19.32%	65.69%	18.62%	30.43%	19.45%	13.63%	9.59%	7.83%	6.82%
Augmented Payout Ratio	147.96%	45.47%	430.66%	136.99%	151.63%	144.14%	109.60%	78.22%	42.79%	60.04%

This table displays calculated financial ratios and metrics derived from Assured Guaranty's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	40.82%	-52.29%	-33.25%	-43.89%	-13.43%	11.99%	882.93%	300.00%	-5.67%	11.03%	-80.66%
EBITDA Growth	43.65%	-89.60%	10.11%	-35.21%	4.13%	83.64%	9,300.00%	847.37%	12.04%	-64.29%	113.33%
EBIT Growth	46.67%	-92.46%	9.78%	-35.97%	1.69%	85.98%	9,300.00%	731.82%	13.46%	-64.80%	88.89%
NOPAT Growth	50.99%	-97.05%	11.58%	-36.94%	-1.28%	321.29%	10,445.12%	889.77%	13.73%	-65.68%	98.06%
Net Income Growth	63.72%	-94.20%	10.69%	-35.71%	16.49%	362.20%	3,080.00%	604.00%	29.33%	-70.92%	-75.00%
EPS Growth	82.01%	-93.65%	21.92%	-31.55%	41.04%	320.00%	1,344.44%	378.38%	36.73%	-58.10%	-18.18%
Operating Cash Flow Growth	217.57%	-77.34%	109.55%	-53.23%	-123.72%	132.17%	-229.63%	113.75%	134.98%	-335.17%	93.59%
Free Cash Flow Firm Growth	110.91%	-133.80%	-181.16%	-114.47%	-117.17%	1,508.68%	178.13%	182.06%	197.03%	114.98%	133.11%
Invested Capital Growth	8.31%	12.61%	21.28%	8.44%	8.96%	-16.48%	-9.08%	-27.66%	-19.24%	3.22%	-6.72%
Revenue Q/Q Growth	121.15%	-42.01%	33.17%	-17.55%	-25.08%	-18.86%	11.94%	27.21%	-3.08%	612.20%	-54.44%
EBITDA Q/Q Growth	761.90%	-89.86%	125.00%	-26.98%	-37.62%	7.45%	32.39%	17.36%	10.00%	5,400.00%	110.53%
EBIT Q/Q Growth	1,073.33%	-92.57%	126.97%	-25.83%	-39.70%	8.15%	32.37%	17.80%	10.28%	5,450.00%	90.91%
NOPAT Q/Q Growth	1,192.58%	-93.19%	110.71%	-18.56%	-74.78%	157.80%	19.08%	27.51%	7.62%	6,430.45%	90.91%
Net Income Q/Q Growth	740.91%	-87.50%	117.28%	-28.32%	-70.18%	138.36%	26.19%	29.90%	18.29%	1,540.00%	120.00%
EPS Q/Q Growth	760.00%	-87.38%	124.82%	-25.40%	-70.00%	142.31%	26.21%	53.73%	-10.67%	733.33%	124.32%
Operating Cash Flow Q/Q Growth	89.13%	170.59%	-70.69%	178.38%	-136.45%	214.04%	-243.55%	-60.26%	149.45%	-1,068.52%	94.01%
Free Cash Flow Firm Q/Q Growth	103.42%	15.12%	-237.48%	-11.35%	-110.59%	103.84%	-39.83%	32.15%	892.55%	-64.76%	117.75%
Invested Capital Q/Q Growth	2.74%	-1.26%	7.01%	-0.12%	7.30%	8.79%	-8.16%	0.45%	-18.60%	14.59%	-26.58%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	88.41%	83.33%	118.96%	100.00%	100.41%	99.08%	75.19%	84.72%	98.59%	84.59%	282.93%
EBITDA Margin	52.46%	13.46%	76.95%	45.54%	51.43%	61.77%	46.65%	39.44%	42.76%	37.67%	4.88%
Operating Margin	51.01%	9.62%	75.09%	44.06%	48.98%	60.86%	45.66%	38.61%	41.70%	36.64%	-4.88%
EBIT Margin	51.01%	9.62%	75.09%	44.06%	48.98%	60.86%	45.66%	38.61%	41.70%	36.64%	-4.88%
Profit (Net Income) Margin	53.62%	14.10%	65.43%	40.10%	46.12%	115.90%	39.45%	35.00%	34.28%	28.08%	12.20%
Tax Burden Percent	80.79%	73.33%	80.00%	86.17%	78.47%	187.62%	78.71%	87.50%	80.83%	82.83%	-22.73%
Interest Burden Percent	130.11%	200.00%	108.91%	105.62%	120.00%	101.51%	109.78%	103.60%	101.69%	92.52%	1,100.00%
Effective Tax Rate	19.21%	26.67%	20.00%	13.83%	21.53%	-87.62%	21.29%	12.50%	19.17%	17.17%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	8.18%	6.93%	13.52%	13.25%	14.00%	13.77%	8.86%	5.62%	2.78%	2.32%	5.83%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	4.11%	0.69%	6.46%	3.58%	4.52%	5.69%	4.27%	2.23%	1.70%	1.51%	-0.20%
Return on Assets (ROA)	4.32%	1.01%	5.63%	3.26%	4.25%	10.83%	3.69%	2.02%	1.40%	1.16%	0.49%
Return on Common Equity (ROCE)	8.10%	6.86%	13.39%	12.97%	13.69%	13.42%	8.61%	5.40%	2.68%	2.24%	5.65%
Return on Equity Simple (ROE_SIMPLE)	8.30%	0.00%	13.08%	13.22%	13.80%	0.00%	8.83%	5.88%	3.05%	0.00%	6.84%
Net Operating Profit after Tax (NOPAT)	142	11	162	77	94	373	145	122	95	89	-1.40
NOPAT Margin	41.21%	7.05%	60.07%	37.97%	38.44%	114.18%	35.94%	33.78%	33.70%	30.35%	-3.41%
Net Nonoperating Expense Percent (NNEP)	0.59%	0.15%	0.20%	0.06%	0.26%	0.08%	0.20%	0.06%	0.02%	-0.09%	0.09%
Return On Investment Capital (ROIC_SIMPLE)	1.93%	0.15%	-	-	-	5.01%	-	-	-	1.27%	-
Cost of Revenue to Revenue	11.59%	17.95%	-18.96%	-0.99%	-0.41%	0.92%	24.81%	15.28%	1.41%	15.41%	-182.93%
SG&A Expenses to Revenue	12.17%	22.44%	16.36%	20.30%	15.92%	14.37%	10.92%	19.72%	19.43%	16.10%	90.24%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	37.39%	73.08%	43.87%	56.93%	51.02%	38.23%	29.53%	46.11%	56.89%	47.95%	287.80%
Earnings before Interest and Taxes (EBIT)	176	15	202	89	120	199	184	139	118	107	-2.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	181	21	207	92	126	202	188	142	121	110	2.00
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.79	0.83	0.73	0.76	0.88	0.74	0.66	0.61	0.55	0.71	0.59
Price to Tangible Book Value (P/TBV)	0.79	0.83	0.73	0.76	0.88	0.74	0.67	0.62	0.55	0.74	0.61
Price to Revenue (P/Rev)	4.54	5.25	4.01	3.55	3.71	3.07	2.61	3.32	4.10	4.99	4.18
Price to Earnings (P/E)	9.96	12.19	5.70	5.81	6.46	5.71	7.64	10.43	20.81	29.11	9.89
Dividend Yield	1.44%	1.38%	1.52%	1.54%	1.33%	1.52%	1.83%	1.94%	2.10%	1.66%	2.07%
Earnings Yield	10.04%	8.21%	17.54%	17.21%	15.48%	17.51%	13.09%	9.59%	4.80%	3.43%	10.11%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.31	0.29	0.30	0.30	0.29	0.32	0.31	0.31	0.32	0.32
Long-Term Debt to Equity	0.30	0.31	0.29	0.30	0.30	0.29	0.32	0.31	0.31	0.32	0.32
Financial Leverage	-1.27	-1.29	-1.31	-1.31	-1.31	-1.29	-1.35	-1.29	-1.29	-1.26	-1.30
Leverage Ratio	2.13	2.16	2.19	2.62	2.61	2.66	2.73	3.07	3.03	2.97	2.96
Compound Leverage Factor	2.77	4.32	2.38	2.77	3.13	2.70	3.00	3.18	3.08	2.75	32.59
Debt to Total Capital	23.11%	23.43%	22.70%	23.26%	22.98%	22.71%	24.21%	23.51%	23.64%	24.04%	24.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	23.11%	23.43%	22.70%	23.26%	22.98%	22.71%	24.21%	23.51%	23.64%	24.04%	24.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.91%	0.80%	0.72%	0.77%	0.72%	0.70%	0.70%	2.51%	2.75%	3.27%	3.58%
Common Equity to Total Capital	75.98%	75.77%	76.58%	75.97%	76.30%	76.59%	75.09%	73.98%	73.61%	72.69%	71.97%
Debt to EBITDA	3.39	4.22	2.71	2.79	2.58	2.81	3.02	4.47	7.83	8.72	4.20
Net Debt to EBITDA	-14.27	-17.58	-11.63	-11.88	-11.10	-12.47	-12.88	-18.83	-32.82	-35.40	-17.38
Long-Term Debt to EBITDA	3.39	4.22	2.71	2.79	2.58	2.81	3.02	4.47	7.83	8.72	4.20
Debt to NOPAT	4.36	4.97	2.45	2.51	2.35	2.32	3.76	5.10	9.18	9.68	4.93
Net Debt to NOPAT	-18.31	-20.70	-10.54	-10.70	-10.14	-10.31	-16.05	-21.46	-38.46	-39.27	-20.42
Long-Term Debt to NOPAT	4.36	4.97	2.45	2.51	2.35	2.32	3.76	5.10	9.18	9.68	4.93
Altman Z-Score	2.19	1.51	2.14	2.14	2.24	2.16	2.12	1.46	1.41	1.40	0.92
Noncontrolling Interest Sharing Ratio	1.06%	0.97%	0.93%	2.13%	2.23%	2.53%	2.81%	4.02%	3.58%	3.70%	2.95%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.81
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.18	-210	-247	-73	-66	621	305	507	383	39	110
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.07	0.09	0.08	0.09	0.09	0.09	0.06	0.04	0.04	0.04
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1,490	-1,532	-1,513	-1,627	-1,625	-1,753	-1,922	-1,777	-1,785	-1,505	-1,762
Invested Capital Turnover	-0.62	-0.53	-0.61	-0.69	-0.78	-0.84	-0.73	-0.62	-0.43	-0.47	-0.41
Increase / (Decrease) in Invested Capital	135	221	409	150	160	-248	-160	-385	-288	50	-111
Enterprise Value (EV)	-2,666	-2,445	-3,055	-2,983	-2,298	-3,245	-3,682	-3,638	-3,936	-2,959	-3,793
Market Capitalization	4,414	4,582	4,186	4,183	4,956	4,221	3,492	3,244	2,893	3,610	2,898
Book Value per Share	$111.57	$107.96	$108.82	$101.74	$103.39	$99.78	$89.61	$88.91	$88.39	$84.41	$79.57
Tangible Book Value per Share	$111.57	$107.96	$108.82	$101.74	$103.39	$99.78	$89.51	$88.81	$88.29	$81.69	$76.89
Total Capital	7,357	7,252	7,480	7,291	7,377	7,459	6,994	7,132	7,091	6,967	6,849
Total Debt	1,700	1,699	1,698	1,696	1,695	1,694	1,693	1,677	1,676	1,675	1,675
Total Long-Term Debt	1,700	1,699	1,698	1,696	1,695	1,694	1,693	1,677	1,676	1,675	1,675
Net Debt	-7,147	-7,085	-7,295	-7,222	-7,307	-7,518	-7,223	-7,061	-7,024	-6,797	-6,936
Capital Expenditures (CapEx)	-10	-6.00	-2.00	-16	-17	-13	-5.00	-6.00	-5.00	-1.00	-1.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,568	1,551	1,513	1,472	1,450	1,468	1,376	1,638	1,573	1,298	-4,478
Debt-free Net Working Capital (DFNWC)	9,455	3,040	9,594	9,508	9,577	9,851	9,527	10,230	10,133	9,637	3,610
Net Working Capital (NWC)	9,455	3,040	9,594	9,508	9,577	9,851	9,527	10,230	10,133	9,637	3,610
Net Nonoperating Expense (NNE)	-43	-11	-14	-4.31	-19	-5.63	-14	-4.38	-1.62	6.63	-6.40
Net Nonoperating Obligations (NNO)	-7,147	-7,085	-7,295	-7,222	-7,307	-7,518	-7,223	-7,232	-7,200	-6,797	-6,936
Total Depreciation and Amortization (D&A)	5.00	6.00	5.00	3.00	6.00	3.00	4.00	3.00	3.00	3.00	4.00
Debt-free, Cash-free Net Working Capital to Revenue	161.32%	177.87%	145.06%	125.06%	108.61%	106.92%	102.84%	167.83%	222.80%	179.53%	-645.25%
Debt-free Net Working Capital to Revenue	972.74%	348.62%	919.85%	807.82%	717.38%	717.48%	712.03%	1,048.16%	1,435.27%	1,332.92%	520.17%
Net Working Capital to Revenue	972.74%	348.62%	919.85%	807.82%	717.38%	717.48%	712.03%	1,048.16%	1,435.27%	1,332.92%	520.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.49	$0.41	$3.23	$1.43	$1.94	$6.43	$2.65	$2.09	$1.37	$1.51	$0.18
Adjusted Weighted Average Basic Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M
Adjusted Diluted Earnings per Share	$3.44	$0.40	$3.17	$1.41	$1.89	$6.30	$2.60	$2.06	$1.34	$1.50	$0.18
Adjusted Weighted Average Diluted Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	49.09M	50.10M	50.90M	52.64M	54.44M	55.46M	57.26M	58.61M	59.34M	59.06M	59.99M
Normalized Net Operating Profit after Tax (NOPAT)	142	11	162	77	94	139	145	122	95	89	-1.40
Normalized NOPAT Margin	41.21%	7.05%	60.07%	37.97%	38.44%	42.60%	35.94%	33.78%	33.70%	30.35%	-3.41%
Pre Tax Income Margin	66.38%	19.23%	81.78%	46.53%	58.78%	61.77%	50.12%	40.00%	42.40%	33.90%	-53.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.16%	19.90%	10.41%	10.79%	10.42%	19.32%	32.97%	47.74%	97.48%	65.69%	25.22%
Augmented Payout Ratio	122.41%	147.96%	79.97%	72.81%	52.38%	45.47%	73.92%	119.68%	317.61%	430.66%	200.59%

Frequently Asked Questions About Assured Guaranty's Financials

When does Assured Guaranty's financial year end?

According to the most recent income statement we have on file, Assured Guaranty's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Assured Guaranty's net income changed over the last 9 years?

Assured Guaranty's net income appears to be on a downward trend, with a most recent value of $392 million in 2024, falling from $1.06 billion in 2015. The previous period was $761 million in 2023. Check out Assured Guaranty's forecast to explore projected trends and price targets.

What is Assured Guaranty's operating income?

Assured Guaranty's total operating income in 2024 was $426 million, based on the following breakdown:

Total Gross Profit: $898 million
Total Operating Expenses: $472 million

How has Assured Guaranty revenue changed over the last 9 years?

Over the last 9 years, Assured Guaranty's total revenue changed from $2.21 billion in 2015 to $872 million in 2024, a change of -60.5%.

How much debt does Assured Guaranty have?

Assured Guaranty's total liabilities were at $6.35 billion at the end of 2024, a 6.3% decrease from 2023, and a 25.2% decrease since 2015.

How much cash does Assured Guaranty have?

In the past 9 years, Assured Guaranty's cash and equivalents has ranged from $97 million in 2023 to $169 million in 2019, and is currently $121 million as of their latest financial filing in 2024.

How has Assured Guaranty's book value per share changed over the last 9 years?

Over the last 9 years, Assured Guaranty's book value per share changed from 42.90 in 2015 to 107.96 in 2024, a change of 151.6%.

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This page (NYSE:AGO) was last updated on 5/29/2025 by MarketBeat.com Staff

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Assured Guaranty (AGO) Financials

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