American International GROUP, Inc. (AIG) intrinsic value & 10-year financials
American International GROUP, Inc. (AIG) has a Graham intrinsic value of $99.88 per share. At $80.74 on Oct 17, 2026, the stock trades 19% below that value. Over the last 10 fiscal years revenue shrank 7.2% a year to $26.8B, with an average return on invested capital of 2.3%.
- Graham intrinsic value
- $99.88
- Share price (Oct 17, 2026)
- $80.74
- Price vs Graham value
- 19% below
- Market cap
- $46.1B
- Revenue (FY2025)
- $26.8B
- Revenue growth (10-yr CAGR)
- -7.2%
- ROIC (10-yr avg)
- 2.3%
- Free cash flow (FY2025)
- —
AIG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $26.8B | $3.1B | $5.43 | — | — | 6.2% |
| FY2024 | $27.3B | -$1.4B | -$2.17 | — | — | -2.7% |
| FY2023 | $46.8B | $3.6B | $4.98 | $6.0B | — | 6.0% |
| FY2022 | $56.4B | $10.3B | $13.01 | $4.0B | — | 12.8% |
| FY2021 | $52.1B | $9.4B | $10.82 | $5.9B | — | 9.6% |
| FY2020 | $43.7B | -$5.9B | -$6.88 | $685.0M | — | -6.0% |
| FY2019 | $49.7B | $3.3B | $3.74 | -$1.2B | — | 3.6% |
| FY2018 | $47.4B | -$6.0M | -$0.01 | -$307.0M | — | -0.0% |
| FY2017 | $49.5B | -$6.1B | -$6.54 | -$9.1B | — | -6.1% |
| FY2016 | $52.4B | -$849.0M | -$0.78 | $1.3B | — | -0.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
American International Group is facing top-line stagnation, with revenue contracting over the decade.
American International Group has historically struggled to out-earn its cost of capital, averaging just 2.3% ROIC.
Over the decade, American International Group shows that management has aggressively returned capital to shareholders by retiring 47.7% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, American International Group is modeled at 6.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $99.88 per share.