A Business at a Glance
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Index to Business Our Company Our Segments Investment Management Human Capital Management Intellectual Property Information about our Executive Officers Corebridge | 2025 Form 10-K 5 TABLE OF CONTENTS Our Company We are one of the largest providers of retirement solutions and insurance products in the United States, committed to helping individuals plan, save for and achieve secure financial futures. Our addressable markets are large, with powerful, long-term secular trends given an aging U.S. population and a growing need for retirement solutions. We offer a broad set of products and services through our market leading Individual Retirement, Group Retirement, Life Insurance and Institutional Markets businesses, each of which features capabilities and industry experience we believe are difficult to replicate.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 18.5B | 18.5B | 18.7B | 18.8B | 24.7B | 23.3B |
| Net Income | -366M | -366M | 2.2B | 1.1B | 8.2B | 8.2B |
| EPS | $-0.68 | $-0.68 | $3.72 | $1.71 | $12.60 | - |
| Free Cash Flow | 2.0B | 2.0B | 2.2B | 3.4B | 2.6B | 2.4B |
| ROIC | -3.4% | -2.9% | 18.0% | 7.5% | 36.5% | 59.9% |
| Gross Margin | -2.9% | -2.9% | 15.0% | 5.0% | 42.5% | 48.4% |
| Debt/Equity | 0.00 | 0.00 | 0.18 | 0.78 | 1.00 | 0.32 |
| Dividends/Share | $0.95 | $0.95 | $0.91 | $2.67 | $0.23 | - |
| Operating Income | -541M | -541M | 2.8B | 940M | 10.5B | 11.3B |
| Operating Margin | -2.9% | -2.9% | 15.0% | 5.0% | 42.5% | 48.4% |
| ROE | -2.8% | -3.0% | 19.2% | 10.4% | 44.7% | 60.9% |
| Shares Outstanding | 538M | 538M | 599M | 646M | 648M | - |
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 15.1B | 23.3B | 24.7B | 18.8B | 18.7B | 18.5B | 18.5B |
| Gross Margin | 5.6% | 48.4% | 42.5% | 5.0% | 15.0% | -2.9% | -2.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.0B | 2.1B | 2.3B | 2.3B | 2.0B | 2.0B | 2.0B |
| EBIT | 851M | 11.3B | 10.5B | 940M | 2.8B | -541M | -541M |
| Op. Margin | 5.6% | 48.4% | 42.5% | 5.0% | 15.0% | -2.9% | -2.9% |
| Net Income | 642M | 8.2B | 8.2B | 1.1B | 2.2B | -366M | -366M |
| Net Margin | 4.3% | 35.4% | 33.0% | 5.9% | 11.9% | -2.0% | -2.0% |
| Non-Recurring | 80M | 32M | 25M | 69M | 69M | 52M | 52M |
| Returns on Capital | |||||||
| ROIC | 3.8% | 59.9% | 36.5% | 7.5% | 18.0% | -2.9% | -3.4% |
| ROE | 3.8% | 60.9% | 44.7% | 10.4% | 19.2% | -3.0% | -2.8% |
| ROA | N/A | 4.0% | 2.1% | 0.3% | 0.6% | -0.1% | -0.1% |
| Cash Flow | |||||||
| Op. Cash Flow | 3.3B | 2.4B | 2.6B | 3.4B | 2.2B | 2.0B | 2.0B |
| Free Cash Flow | 3.3B | 2.4B | 2.6B | 3.4B | 2.2B | 2.0B | 2.0B |
| Owner Earnings | 2.9B | 1.8B | 1.9B | 2.6B | 1.6B | 1.5B | 1.5B |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 325M | 493M | 616M | 680M | 528M | 406M | 406M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 325M | 493M | 616M | 680M | 528M | 406M | 406M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 876M | 1.7B | 544M | 511M | 511M |
| Dividend Yield | N/A | N/A | 8.0% | 16.5% | 3.4% | 3.0% | 3.8% |
| Share Buybacks | 0 | 0 | 0 | 498M | 1.8B | 2.1B | 2.1B |
| Buyback Yield | 0.0% | N/A | N/A | 3.8% | 10.3% | 12.9% | 15.8% |
| Stock-Based Comp | 74M | 88M | 75M | 60M | 58M | 67M | 67M |
| Debt Repayment | 11M | 568M | 1.2B | 535M | 982M | 1.1B | 1.1B |
| Balance Sheet | |||||||
| Net Debt | -2.2B | 3.2B | 4.3B | 4.2B | -3.7B | -6.1B | -453M |
| Cash & Equiv. | 918M | 57M | 633M | 628M | 824M | 453M | 453M |
| Long-Term Debt | 0 | 427M | 7.9B | 535M | 982M | N/A | N/A |
| Debt/Equity | 0.00 | 0.32 | 1.00 | 0.78 | 0.18 | 0.00 | 0.00 |
| Interest Coverage | 1.7 | 28.9 | 19.6 | 1.6 | 5.1 | -1.0 | -1.0 |
| Equity | -1.0M | 27.1B | 9.4B | 11.8B | 11.5B | 13.2B | 13.2B |
| Total Assets | N/A | 416.2B | 360.3B | 379.3B | 389.4B | 413.5B | 413.5B |
| Total Liabilities | N/A | 387.3B | 350.0B | 366.6B | 377.1B | 399.6B | 399.6B |
| Intangibles | N/A | 18M | 12M | 0 | N/A | N/A | N/A |
| Retained Earnings | N/A | 8.9B | 18.2B | 17.6B | 19.3B | 18.4B | 18.4B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||
| EPS | N/A | N/A | 12.60 | 1.71 | 3.72 | -0.68 | -0.68 |
| Owner EPS | N/A | N/A | 2.98 | 4.05 | 2.61 | 2.88 | 2.88 |
| Book Value | N/A | N/A | 14.49 | 18.22 | 19.12 | 24.53 | 24.53 |
| Cash Flow/Share | N/A | N/A | 4.05 | 5.20 | 3.59 | 3.75 | 0.07 |
| Dividends/Share | N/A | N/A | 0.23 | 2.67 | 0.91 | 0.95 | 0.95 |
| Shares Out. | N/A | N/A | 647.5M | 645.6M | 599.5M | 538.2M | 538.2M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | 1.3 | 12.0 | 7.8 | N/A | -36.7 |
| P/FCF | N/A | N/A | 4.0 | 3.9 | 8.1 | 8.1 | 6.6 |
| EV/EBIT | N/A | N/A | 1.4 | 17.8 | 8.3 | N/A | N/A |
| Price/Book | N/A | N/A | 1.1 | 1.1 | 1.5 | 1.2 | 1.0 |
| Price/Sales | N/A | N/A | 0.4 | 0.6 | 0.9 | 0.9 | 0.7 |
| FCF Yield | N/A | N/A | 25.2% | 25.4% | 12.3% | 12.3% | 15.1% |
| Market Cap | 0 | N/A | 10.4B | 13.2B | 17.5B | 16.5B | 13.4B |
| Avg. Price | 0.00 | N/A | 16.84 | 16.12 | 26.83 | 31.54 | 24.94 |
| Year-End Price | 0.00 | N/A | 16.05 | 20.47 | 29.13 | 30.59 | 24.94 |
Corebridge Financial, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 6.6x vs a median of 6.0x. The company's 5-year average ROIC is 23.8% with a gross margin of 21.6%. Total shareholder yield (dividends + buybacks) is 19.6%. At current prices, the estimated annualized return to fair value is +0.2%.
Corebridge Financial, Inc. (CRBG) has a 5-year average return on invested capital (ROIC) of 23.8%. This indicates strong capital allocation and a potential competitive advantage.
Corebridge Financial, Inc. (CRBG) has a market capitalization of $13.4B. It is classified as a large-cap stock.
Yes, Corebridge Financial, Inc. (CRBG) pays a dividend with a trailing twelve-month yield of 3.81%. The company also returns capital through share buybacks, with a buyback yield of 15.78%.
Corebridge Financial, Inc. (CRBG) operates in the Life Insurance industry, within the Financials sector.
Corebridge Financial, Inc. (CRBG) reported annual revenue of $18.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Corebridge Financial, Inc. (CRBG) has a net profit margin of -2.0%. The company is currently unprofitable.
Corebridge Financial, Inc. (CRBG) generated $2.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Corebridge Financial, Inc. (CRBG) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Corebridge Financial, Inc. (CRBG) reported earnings per share (EPS) of $-0.68 in its most recent fiscal year.
Corebridge Financial, Inc. (CRBG) has a return on equity (ROE) of -3.0%. A negative ROE may indicate losses or negative equity.
Corebridge Financial, Inc. (CRBG) has a 5-year average gross margin of 21.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 6 years of financial data for Corebridge Financial, Inc. (CRBG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Corebridge Financial, Inc. (CRBG) has a book value per share of $24.53, based on its most recent annual SEC filing.