A Business at a Glance
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F&G Annuities & Life, Inc.
FG
$3.9B
Mkt Cap
$29.65
+1.82%
F&G Annuities & Life, Inc. (FG) has a current P/E ratio of 15.8, compared to its historical median P/E of 8.3. The stock is currently considered Expensive based on its historical valuation range.
F&G Annuities & Life, Inc. (FG) has a 5-year average return on invested capital (ROIC) of 8.8%. This is below average and may indicate limited pricing power.
F&G Annuities & Life, Inc. (FG) has a market capitalization of $4.0B. It is classified as a mid-cap stock.
Yes, F&G Annuities & Life, Inc. (FG) pays a dividend with a trailing twelve-month yield of 3.64%. The company also returns capital through share buybacks, with a buyback yield of 0.90%.
Based on historical P/E analysis, F&G Annuities & Life, Inc. (FG) appears expensive. The current P/E of 15.8 is 90% above its historical median of 8.3. The estimated fair value CAGR (P/E method) is -23.9%.
F&G Annuities & Life, Inc. (FG) operates in the Life Insurance industry, within the Financials sector.
F&G Annuities & Life, Inc. (FG) reported annual revenue of $5.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Founded in 1959, F&G is a leading provider of insurance solutions serving retail annuity and life customers as well as institutional clients. Our mission is to help people turn their aspirations into reality. As of December 31, 2025, F&G has approximately 778,000 policyholders who count on the safety and protection of our fixed annuity and life insurance products. We also serve approximately 145,000 plan participants who will receive their pension payments from F&G through our pension risk transfer solutions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.0B | 5.7B | 5.7B | 4.5B | 2.3B | 4.0B |
| Net Income | 517M | 248M | 622M | -58M | 635M | 865M |
| EPS | $3.84 | $1.88 | $4.88 | $-0.47 | $5.52 | $11.81 |
| Free Cash Flow | 0 | 4.7B | 6.0B | 5.8B | 3.2B | 1.9B |
| ROIC | 0.0% | 3.8% | 11.3% | -1.4% | 13.3% | 17.2% |
| Gross Margin | - | 25.7% | 28.8% | 15.9% | - | - |
| Debt/Equity | 0.48 | 0.47 | 0.56 | 0.57 | 0.46 | 0.19 |
| Dividends/Share | $1.08 | $0.91 | $0.85 | $0.81 | $0.20 | $0.00 |
| Operating Income | 0 | 323M | - | -35M | 793M | 1.6B |
| Operating Margin | 0.0% | 5.6% | - | -0.8% | 33.8% | 39.1% |
| ROE | 11.1% | 5.7% | 17.6% | -2.1% | 17.1% | 19.0% |
| Shares Outstanding | 134M | 132M | 127M | 123M | 115M | 73M |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 4.0B | 2.3B | 4.5B | 5.7B | 5.7B | 6.0B |
| Gross Margin | N/A | N/A | 15.9% | 28.8% | 25.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 129M | 157M | 232M | 296M | 293M | 286M |
| EBIT | 1.6B | 793M | -35M | N/A | 323M | 0 |
| Op. Margin | 39.1% | 33.8% | -0.8% | N/A | 5.6% | 0.0% |
| Net Income | 865M | 635M | -58M | 622M | 248M | 517M |
| Net Margin | 21.8% | 27.0% | -1.3% | 10.8% | 4.3% | 8.6% |
| Non-Recurring | -14M | 14M | 13M | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 17.2% | 13.3% | -1.4% | 11.3% | 3.8% | 0.0% |
| ROE | 19.0% | 17.1% | -2.1% | 17.6% | 5.7% | 11.1% |
| ROA | 1.8% | 1.2% | -0.1% | 0.8% | 0.3% | 0.5% |
| Cash Flow | ||||||
| Op. Cash Flow | 1.9B | 3.2B | 5.8B | 6.0B | 4.7B | 4.5B |
| Free Cash Flow | 1.9B | 3.2B | 5.8B | 6.0B | 4.7B | 0 |
| Owner Earnings | 1.6B | 2.8B | 5.4B | 5.4B | 4.0B | 3.8B |
| CapEx | 0 | 0 | 27M | 24M | 15M | 0 |
| Maint. CapEx | 271M | 324M | 412M | 569M | 665M | 685M |
| Growth CapEx | N/A | N/A | 0 | 0 | 0 | 0 |
| D&A | 271M | 324M | 412M | 569M | 665M | 685M |
| CapEx/OCF | N/A | N/A | 0.5% | 0.4% | 0.3% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 101M | 121M | 137M | 145M |
| Dividend Yield | N/A | N/A | 3.4% | 2.4% | 3.0% | 3.6% |
| Share Buybacks | 0 | 0 | 18M | 12M | 10M | 36M |
| Buyback Yield | N/A | N/A | 0.3% | 0.2% | 0.2% | 0.9% |
| Stock-Based Comp | 9.0M | 12M | 23M | 29M | 31M | 32M |
| Debt Repayment | 0 | 4.0M | 16M | 20M | 11M | 11M |
| Balance Sheet | ||||||
| Net Debt | -929M | -1.4B | -1.3B | -2.5B | -259M | -78M |
| Cash & Equiv. | 1.5B | 960M | 1.6B | 2.3B | 1.5B | 2.3B |
| Long-Term Debt | 977M | 1.1B | 1.8B | 2.2B | 2.2B | 2.2B |
| Debt/Equity | 0.19 | 0.46 | 0.57 | 0.56 | 0.47 | 0.48 |
| Interest Coverage | 53.5 | 27.3 | -0.4 | N/A | 0.8 | 0.8 |
| Equity | 5.0B | 2.4B | 3.1B | 4.0B | 4.8B | 4.6B |
| Total Assets | 48.7B | 54.6B | 70.2B | 84.9B | 98.4B | 101.0B |
| Total Liabilities | 44.2B | 52.2B | 67.1B | 80.9B | 93.5B | 96.3B |
| Intangibles | 2.2B | 3.4B | 200M | 562M | 551M | 6.4B |
| Retained Earnings | 1.0B | 2.1B | 1.9B | 2.4B | 2.6B | 2.8B |
| Working Capital | 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 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||
| EPS | 11.81 | 5.52 | -0.47 | 4.88 | 1.88 | 3.84 |
| Owner EPS | 21.72 | 24.64 | 43.75 | 42.37 | 30.21 | 27.92 |
| Book Value | 68.73 | 20.91 | 25.15 | 31.00 | 36.42 | 34.53 |
| Cash Flow/Share | 25.55 | 27.57 | 47.28 | 47.07 | 35.49 | 8.95 |
| Dividends/Share | 0.00 | 0.20 | 0.81 | 0.85 | 0.91 | 1.08 |
| Shares Out. | 73.2M | 115.0M | 123.4M | 127.5M | 131.9M | 134.3M |
| Valuation | ||||||
| P/E Ratio | N/A | 3.3 | N/A | 8.3 | 17.1 | 7.7 |
| P/FCF | N/A | 0.7 | 0.9 | 0.9 | 0.9 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.9 | 1.7 | 1.3 | 0.9 | 0.9 |
| Price/Sales | N/A | 0.9 | 0.7 | 0.9 | 0.8 | 0.7 |
| FCF Yield | N/A | 149.6% | 107.5% | 116.3% | 110.4% | N/A |
| Market Cap | N/A | 2.1B | 5.4B | 5.2B | 4.2B | 4.0B |
| Avg. Price | N/A | 18.87 | 24.41 | 40.09 | 34.29 | 29.65 |
| Year-End Price | N/A | 18.42 | 43.96 | 40.46 | 32.13 | 29.65 |
F&G Annuities & Life, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
F&G Annuities & Life, Inc. trades at 15.8x trailing earnings, compared to its 15-year median P/E of 8.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 0.9x vs a median of 0.9x. The company's 5-year average ROIC is 8.8% with a gross margin of 23.5%. Total shareholder yield (dividends + buybacks) is 4.5%. At current prices, the estimated annualized return to fair value is +9.8%.
F&G Annuities & Life, Inc. (FG) has a net profit margin of 4.3%. This is a modest margin.
F&G Annuities & Life, Inc. (FG) generated $4.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
F&G Annuities & Life, Inc. (FG) has a debt-to-equity ratio of 0.47. This indicates a conservatively financed balance sheet.
F&G Annuities & Life, Inc. (FG) reported earnings per share (EPS) of $1.88 in its most recent fiscal year.
F&G Annuities & Life, Inc. (FG) has a return on equity (ROE) of 5.7%. This indicates moderate shareholder returns.
F&G Annuities & Life, Inc. (FG) has a 5-year average gross margin of 23.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for F&G Annuities & Life, Inc. (FG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
F&G Annuities & Life, Inc. (FG) has a book value per share of $36.42, based on its most recent annual SEC filing.