AHL (ASPEN INSURANCE HOLDINGS LTD) Stock Financials & Earnings | Market Cap Arena

AHL (ASPEN INSURANCE HOLDINGS LTD) Stock Financials & Earnings | Market Cap Arena

AHLASPEN INSURANCE HOLDINGS LTD

Mkt Cap$3B

Financial Services·Insurance - Property & Casualty·🇧🇲 Bermuda·NYSE

Revenue (TTM)$3.2B

Net Income (TTM)$454M

EPS (TTM)$5.82

Free Cash Flow (TTM)$286M

Gross Margin35.4%

Op. Margin14.2%

Net Margin14.1%

FCF Margin8.9%

P/S Ratio (TTM)1.1x

P/E Ratio (TTM)7.6x

YoY Rev Growth+6.6%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q3 22	$642M	-$15M	-$155M
Q4 22	$721M	$250M	$75M
Q2 23	$731M	$251M	$109M
Q3 23	$735M	$210M	$92M
Q4 23	$719M	$221M	$56M
Q1 24	$751M	$273M	$126M
Q2 24	$764M	$238M	$80M
Q3 24	$776M	$210M	$63M
Q4 24	$908M	$339M	$195M
Q1 25	$765M	$214M	$47M
Q2 25	$714M	$245M	$58M
Q3 25	$822M	$337M	$156M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q3 22	1.5x	—
Q4 22	1.4x	—
Q2 23	1.3x	75.9x
Q3 23	1.2x	19.3x
Q4 23	1.2x	6.0x
Q1 24	1.2x	6.7x
Q2 24	1.2x	6.9x
Q3 24	1.1x	7.4x
Q4 24	1.1x	7.1x
Q1 25	1.1x	8.4x
Q2 25	1.1x	8.9x
Q3 25	1.1x	7.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 18	-$82M	-$88M
Q1 19	-$180M	-$183M
Q2 19	-$133M	-$142M
Q3 23	$29M	$23M
Q4 23	$31M	$30M
Q1 24	$103M	$99M
Q2 24	$75M	$70M
Q3 24	$190M	$189M
Q4 24	$188M	$180M
Q1 25	$105M	$99M
Q2 25	$23M	$13M
Q3 25	-$4M	-$6M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 18	$7M
Q1 19	$4M
Q2 19	$9M
Q3 23	$6M
Q4 23	$2M
Q1 24	$4M
Q2 24	$5M
Q3 24	$1M
Q4 24	$8M
Q1 25	$7M
Q2 25	$10M
Q3 25	$1M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	-4.2%	+13.8%
Q4 22	+24.8%	-10.4%
Q2 23	+32.6%	+14.1%
Q3 23	+49.8%	+18.9%
Q4 23	+12.1%	-16.7%
Q1 24	+4.0%	-3.4%
Q2 24	+4.5%	+9.9%
Q3 24	+5.6%	+10.8%
Q4 24	+26.2%	+7.5%
Q1 25	+2.0%	+15.1%
Q2 25	-6.5%	-4.0%
Q3 25	+5.9%	-6.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 18	$1M	0.2%
Q1 19	$0	0.0%
Q2 19	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$9M	1.1%

OpEx Breakdown

Quarter	G&A
Q3 22	$97M
Q4 22	$211M
Q2 23	$118M
Q3 23	$120M
Q4 23	$247M
Q1 24	$131M
Q2 24	$99M
Q3 24	$126M
Q4 24	$133M
Q1 25	$158M
Q2 25	$105M
Q3 25	$172M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.3B	$0	$1.3B
Q4 22	$959M	$3.8B	$4.8B
Q2 23	$1.1B	$4.1B	$5.2B
Q3 23	$989M	$0	$989M
Q4 23	$1.0B	$4.2B	$5.3B
Q1 24	$0	$0	$0
Q2 24	$921M	$4.5B	$5.4B
Q3 24	$1.2B	$4.7B	$5.9B
Q4 24	$914M	$5.0B	$5.9B
Q1 25	$845M	$5.3B	$6.1B
Q2 25	$939M	$5.3B	$6.2B
Q3 25	$1.1B	$6.6B	$7.7B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q3 22	60M	+0.0%
Q4 22	60M	+0.0%
Q2 23	60M	+0.0%
Q3 23	60M	+0.0%
Q4 23	60M	+0.0%
Q1 24	60M	+0.6%
Q2 24	60M	+0.0%
Q3 24	60M	+0.0%
Q4 24	60M	+0.0%
Q1 25	60M	+0.0%
Q2 25	91M	+50.7%
Q3 25	92M	+1.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 13	$3M	945
FY 14	$3M	998
FY 15	$2M	1K
FY 16	$2M	2K
FY 17	$2M	1K
FY 18	$2M	1K
FY 19	$3M	963
FY 20	$3M	907
FY 21	$3M	910
FY 22	$3M	946
FY 23	$3M	1K
FY 24	$3M	1K