Latest Ratios: P/E Ratio -50.2x · EV/EBITDA 1711.5x · ROE -2.8%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.2B | $16.3B | $17.9B | $14.0B | $13.0B | — | — | — |
| Enterprise Value | $25.7B | $26.7B | $29.5B | $25.2B | $27.8B | — | — | — |
| P/E Ratio → | -50.19 | — | 8.05 | 12.67 | 1.59 | — | — | — |
| P/S Ratio | 6.51 | 6.96 | 8.44 | 7.86 | 9.66 | — | — | — |
| P/B Ratio | 1.32 | 1.17 | 1.45 | 1.11 | 1.26 | — | — | — |
| P/FCF | 7.53 | 8.05 | 8.34 | 4.16 | 4.95 | — | — | — |
| P/OCF | 7.53 | 8.05 | 8.34 | 4.16 | 4.95 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.44 | 13.90 | 14.18 | 20.64 | — | — | — |
| EV / EBITDA | 1711.54 | 1781.98 | 9.85 | 19.32 | 2.51 | — | — | — |
| EV / EBIT | — | 2429.97 | 8.79 | 16.60 | 2.52 | — | — | — |
| EV / FCF | — | 13.23 | 13.72 | 7.52 | 10.59 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.9% | 80.9% | 79.3% | 75.4% | 71.6% | 63.6% | -21.9% | -22.8% |
| Operating Margin | -18.7% | -18.7% | 104.7% | 39.8% | 558.3% | 45.8% | -35.4% | -37.7% |
| Net Profit Margin | -12.7% | -12.7% | 83.3% | 46.8% | 434.2% | 33.3% | 4.3% | 0.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -2.8% | -2.8% | 17.9% | 9.6% | 41.6% | 21.4% | 1.6% | — |
| ROA | -0.1% | -0.1% | 0.6% | 0.3% | 2.1% | 1.8% | 0.2% | — |
| ROIC | -1.6% | -1.6% | 8.5% | 2.8% | 22.4% | 15.9% | -7.8% | — |
| ROCE | -0.1% | -0.1% | 0.7% | 0.3% | 2.9% | 2.7% | -1.4% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.78 | 0.78 | 1.01 | 0.94 | 1.49 | 0.54 | 0.28 | — |
| Debt / EBITDA | 727.07 | 727.07 | 4.14 | 9.09 | 1.38 | 1.47 | — | — |
| Net Debt / Equity | — | 0.75 | 0.94 | 0.89 | 1.43 | 0.52 | 0.27 | — |
| Net Debt / EBITDA | 697.27 | 697.27 | 3.87 | 8.62 | 1.33 | 1.42 | — | — |
| Debt / FCF | — | 5.18 | 5.39 | 3.35 | 5.64 | 6.30 | 3.18 | — |
| Interest Coverage | 0.02 | 0.02 | 6.06 | 2.62 | 20.65 | 27.03 | 2.74 | -8.98 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.84 | 2.84 | 58.70 | 688.28 | 108.44 | 1.11 | 1.38 | — |
| Quick Ratio | 2.84 | 2.84 | 58.70 | 688.28 | 108.44 | 1.11 | 1.38 | — |
| Cash Ratio | 0.02 | 0.02 | 0.73 | 2.45 | 0.37 | 0.01 | 0.02 | — |
| Asset Turnover | — | 0.01 | 0.01 | 0.01 | 0.01 | 0.05 | 0.04 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 3.1% | 3.0% | 12.3% | 6.7% | — | — | — |
| Payout Ratio | — | — | 24.4% | 156.0% | 10.7% | 21.4% | 73.5% | 3248.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 12.4% | 7.9% | 62.8% | — | — | — |
| FCF Yield | 13.3% | 12.4% | 12.0% | 24.0% | 20.2% | — | — | — |
| Buyback Yield | 13.9% | 13.0% | 10.0% | 3.6% | 0.0% | — | — | — |
| Total Shareholder Yield | 16.7% | 16.2% | 13.0% | 15.9% | 6.7% | — | — | — |
| Shares Outstanding | — | $539M | $599M | $645M | $647M | $645M | $645M | $645M |
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying CRBG stock.
Corebridge Financial, Inc.'s current P/E ratio is -50.2x. The historical average is 7.4x.
Corebridge Financial, Inc.'s current EV/EBITDA is 1711.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.6x.
Corebridge Financial, Inc.'s return on equity (ROE) is -2.8%. The historical average is 14.9%.
Based on historical data, Corebridge Financial, Inc. is trading at a P/E of -50.2x. Compare with industry peers and growth rates for a complete picture.
Corebridge Financial, Inc.'s current dividend yield is 2.78%.
Corebridge Financial, Inc. has 80.9% gross margin and -18.7% operating margin.
Corebridge Financial, Inc.'s Debt/EBITDA ratio is 727.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
LDTI and MRB volatility
Metrics are mathematically derived from official filings.
Discount Reflecting Earnings Distortions
Corebridge trades at 1.23x book and 7.06x forward earnings, a discount to MetLife's 2.15x and Prudential's 1.19x, as per recent market data, suggesting the market prices in accounting volatility.
The forward P/E of 7.06 implies the market expects normalized earnings well above the negative trailing GAAP results, which are distorted by LDTI and MRB swings. The P/B of 1.23 is below the peer average, but given the thin equity base (equity/assets of 3%), the multiple may overstate value if unrealized losses exist in the securities portfolio. Investors appear to be valuing the stable retirement franchise, but the discount suggests skepticism about earnings quality.
ROE Swings Mask Underlying Franchise
Reported ROE swung from -5.3% in 2025Q1 to 16.2% in 2024Q4, with 2026Q2 at 0.0%, as per financial statements, indicating that GAAP earnings are heavily influenced by non-economic items.
The DuPont decomposition is obscured by accounting volatility: NIM is a negligible 0.1%, while fee income constitutes 82% of revenue, yet the efficiency ratio spiked to 98.7% in 2026Q2. This suggests that operating leverage is poor when markets are turbulent, and the negative net margin (-12.7%) in recent quarters may reflect hedging costs and DAC amortization rather than core business deterioration. The positive revenue growth of 7.9% does not translate into bottom-line stability, indicating that profitability quality is low.
Thin Spreads and Cost Pressures
Net interest margin has remained at 0.1% for five consecutive quarters, as reported, while the efficiency ratio deteriorated to 98.7% in 2026Q2 from 73.3% in Q1, signaling cost pressures.
The persistently low NIM suggests that rising rates have not improved spreads, possibly due to hedging or crediting rate increases. The efficiency ratio spike indicates that non-interest expenses consumed nearly all revenue, which may be due to one-time charges or elevated administrative costs. This trend warrants monitoring, as it implies limited operating leverage and potential margin compression if investment yields do not rise further.
Thin Equity Base Limits Flexibility
Equity-to-assets ratio stands at 0.03, unchanged over the past year, as per balance sheet data, indicating a thin capital buffer relative to the $415.8B asset base.
The low equity ratio suggests limited capacity for additional capital return without depleting buffers, despite the company's continued dividends and buybacks. Regulatory capital ratios are not disclosed in the provided data, but the statutory capital position may be stronger than GAAP equity suggests. Investors should monitor whether the company can maintain its capital return program while funding growth in the Institutional Markets segment.
Credit Costs Swing Dramatically
Loan loss provisions swung from an $851M charge in 2026Q1 to a $131M reversal in 2026Q2, as per reported figures, highlighting unpredictable credit quality.
The volatility in provisions suggests that credit quality is sensitive to market conditions and may be influenced by changes in the macroeconomic outlook. The reversal in Q2 contributed to the positive net income, but such swings make it difficult to assess the adequacy of reserves. Investors should monitor the trend in charge-offs and non-performing assets, which are not disclosed in the provided data, to gauge the sustainability of credit performance.
P/E Misleads on Earnings Power
The trailing P/E of -46.99 is meaningless due to negative GAAP earnings, while the forward P/E of 7.06 may overstate earnings quality, as per market data, given LDTI volatility.
For life insurers, P/E ratios are often distorted by non-economic accounting items such as market risk benefits and DAC amortization. A more appropriate metric is P/B adjusted for unrealized gains/losses on the securities portfolio, or price to adjusted operating earnings, which excludes these volatile items. The negative ROE and net margin in recent quarters suggest that reported earnings are not a reliable indicator of underlying profitability, and investors should focus on statutory capital and distributable earnings.