F&G Annuities & Life, Inc. (FG) 10-Year Financial Performance & Capital Metrics

FG • • Insurance & Managed Care

Financial ServicesLife InsuranceAnnuity-Focused ProvidersSpecialized Annuity Providers

AboutF&G Annuities & Life, Inc. provides fixed annuities and life insurance products. It serves retail annuity and life customers, as well as institutional clients. The company was founded in 1959 and is headquartered in Des Moines, Iowa. F&G Annuities & Life, Inc. is a subsidiary of Fidelity National Financial, Inc.Show more

Revenue $5.42B +26.9%
Combined Ratio 85.65% -15.0%
Net Income $639M +1201.7%
Return on Equity 17.8% +945.3%
Medical Cost Ratio 69.93% -15.9%
Operating Margin 14.35% +1851.3%
Net Margin 11.79% +968.0%
ROA 0.82% +986.1%
Equity / Assets 4.79% +8.4%
Book Value per Share 31.11 +24.3%
Tangible BV/Share -28.05 -21.9%
Debt/Equity 0.54 -5.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 85.6% combined ratio
✓Strong Piotroski F-Score: 7/9
✓Healthy dividend yield of 3.3%
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak momentum: RS Rating 19 (bottom 19%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y24.49%

3Y17%

TTM-4.94%

Profit (Net Income) CAGR

10Y-

5Y9.17%

3Y-19.83%

TTM3469.23%

EPS CAGR

10Y-

5Y20.39%

3Y-16.02%

TTM3863.8%

ROCE

10Y Avg1.41%

5Y Avg1.93%

3Y Avg0.89%

Latest1.18%

Peer Comparison

Specialized Annuity Providers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FGF&G Annuities & Life, Inc.	3.73B	27.74	5.68	26.93%	8.87%	9.39%	100%	0.54
FGNF&G Annuities & Life, Inc.	3.47B	25.75	5.42	26.6%	8.4%	9.39%	100%	0.53

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.06M	1.98B	711M	1.81B	1.43B	3.38B	2.24B	4.27B	5.42B
Revenue Growth %	-	1859.15%	-0.64%	1.55%	-0.21%	1.37%	-0.34%	0.91%	0.27%
Medical Costs & Claims+	0	0	0	1.15B	0	1.93B	1.13B	3.55B	3.79B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-
Gross Profit+	1.06M	1.98B	711M	665M	1.43B	1.45B	1.11B	718M	1.63B
Gross Margin %	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-	1859.15%	-0.64%	-0.06%	1.15%	0.02%	-0.23%	-0.35%	1.27%
Operating Expenses+	1.4M	1.73B	653M	244M	99M	-99M	320M	753M	852M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	336.27K	-252M	-58M	128M	0	271M	324M	412M	569M
Combined Ratio %	-	-	-	-	-	-	-	-	-
Operating Income+	-336.27K	252M	58M	421M	1.33B	1.55B	793M	-35M	778M
Operating Margin %	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-	750.41%	-0.77%	6.26%	2.16%	0.17%	-0.49%	-1.04%	23.23%
EBITDA+	0	0	0	549M	1.33B	1.82B	1.12B	377M	1.35B
EBITDA Margin %	-	-	-	-	-	-	-	-	-
Interest Expense	0	0	0	32M	0	29M	29M	97M	132M
Non-Operating Income	0	0	0	-32M	1.33B	-29M	-29M	-97M	-132M
Pretax Income+	-336.27K	228M	29M	421M	-128M	1.55B	793M	-35M	778M
Pretax Margin %	-	-	-	-	-	-	-	-	-
Income Tax+	0	1.32B	16M	60M	-89M	320M	158M	23M	136M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-
Net Income+	-336.27K	-1.12B	-16M	412M	-178M	1.24B	635M	-58M	639M
Net Margin %	-	-	-	-	-	-	-	-	-
Net Income Growth %	-	-3317.8%	0.99%	26.75%	-1.43%	7.97%	-0.49%	-1.09%	12.02%
EPS (Diluted)+	-0.02	-5.21	-0.07	1.93	-0.31	8.24	5.52	-0.47	4.88
EPS Growth %	-	-286.85%	0.99%	27.05%	-1.16%	27.58%	-0.33%	-1.09%	11.38%
EPS (Basic)	-0.02	-5.28	-0.07	1.92	-0.31	8.24	5.52	-0.47	4.98
Diluted Shares Outstanding	18.56M	214.37M	216.02M	213.36M	150M	105M	115M	124M	131M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	692M	29.92B	30.95B	36.71B	39.76B	48.73B	54.63B	70.2B	85.04B
Asset Growth %	-	42.24%	0.03%	0.19%	0.08%	0.23%	0.12%	0.29%	0.21%
Total Investment Assets+	0	0	0	0	31.2B	64.19B	41.39B	52.29B	49.88B
Long-Term Investments	0	0	0	0	28.17B	33.86B	36.05B	45.55B	3.56B
Short-Term Investments	0	0	0	0	25.95B	30.34B	32.77B	41.87B	46.32B
Total Current Assets+	1.02M	1.22B	571M	969M	0	35.53B	0	0	48.58B
Cash & Equivalents	1.02M	1.22B	571M	969M	889M	1.53B	960M	1.56B	2.26B
Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-30.45B	-1M	-40.12B	-53.35B	-13.37B
Goodwill & Intangibles+	0	1.32B	1.83B	1.92B	3.67B	3.99B	5.18B	5.96B	7.75B
Goodwill	0	467M	467M	467M	1.76B	1.76B	1.75B	1.75B	2.18B
Intangible Assets	0	853M	1.36B	1.46B	1.92B	2.23B	3.43B	4.21B	5.57B
PP&E (Net)	0	0	0	0	19M	21M	21M	0	0
Other Assets	690.98M	27.39B	28.55B	33.82B	-31.86B	0	-41.25B	-51.5B	0
Total Liabilities	70K	27.94B	30.03B	33.95B	35.68B	44.24B	52.22B	67.1B	80.96B
Total Debt+	0	412M	541M	542M	603M	991M	1.13B	1.76B	2.18B
Net Debt	-1.02M	-803M	-30M	-427M	-286M	-542M	167M	202M	-83M
Long-Term Debt	0	412M	541M	542M	589M	977M	1.11B	1.75B	2.17B
Short-Term Debt	0	0	0	0	0	0	0	0	0
Total Current Liabilities+	70K	43M	81M	129M	0	220M	0	0	11.79B
Accounts Payable	0	0	0	0	206M	220M	231M	378M	207M
Deferred Revenue	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	129M	-572M	-248M	-794M	-1.05B	11.07B
Deferred Taxes	0	0	0	0	0	1000K	0	0	0
Other Liabilities	0	27.48B	29.4B	33.28B	-605M	-1.05B	-1.33B	-1.76B	66.99B
Total Equity+	5M	1.99B	919M	2.76B	4.07B	4.49B	2.4B	3.1B	4.08B
Equity Growth %	-	396.2%	-0.54%	2%	0.48%	0.1%	-0.46%	0.29%	0.31%
Shareholders Equity	5M	1.99B	919M	2.76B	4.07B	4.49B	2.4B	3.1B	3.95B
Minority Interest	0	0	0	0	0	0	0	0	125M
Retained Earnings	-280.22K	-149M	-167M	300M	136M	1B	2.06B	1.93B	2.44B
Common Stock	1.99K	0	0	0	0	0	0	0	0
Accumulated OCI	0	75M	-937M	481M	1.2B	734M	-2.82B	-1.99B	-1.92B
Return on Equity (ROE)	-0.07%	-1.12%	-0.01%	0.22%	-0.05%	0.29%	0.18%	-0.02%	0.18%
Return on Assets (ROA)	-0%	-0.07%	-0%	0.01%	-0%	0.03%	0.01%	-0%	0.01%
Equity / Assets	-	-	-	-	-	-	-	-	-
Debt / Equity	-	0.21x	0.59x	0.20x	0.15x	0.22x	0.47x	0.57x	0.54x
Book Value per Share	0.27	9.26	4.25	12.94	27.16	42.71	20.91	25.02	31.11
Tangible BV per Share	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-645.71K	1.02B	897M	652M	63M	1.87B	3.17B	5.83B	6B
Operating CF Growth %	-	1580.65%	-0.12%	-0.27%	-0.9%	28.7%	0.69%	0.84%	0.03%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-
Net Income	-336.27K	-1.09B	13M	412M	-178M	865M	481M	-58M	642M
Depreciation & Amortization	0	-24M	-21M	128M	-13M	484M	329M	412M	569M
Stock-Based Compensation	0	-12M	4M	4M	7M	9M	12M	23M	29M
Deferred Taxes	0	0	0	42M	0	-1.09B	0	0	0
Other Non-Cash Items	-384.32K	1.82B	484M	-124M	259M	-180M	-561M	165M	-800M
Working Capital Changes	74.87K	324M	417M	190M	-12M	1.78B	2.91B	5.29B	5.56B
Cash from Investing+	-828M	-264M	-2.28B	-1.53B	-2.59B	-6.86B	-9.37B	-8.92B	-7.95B
Capital Expenditures	0	-12M	-7M	-15M	-28M	-33M	-32M	-27M	-24M
Acquisitions	0	0	-57M	-588M	0	-1.75B	-982M	-1.14B	-482M
Purchase of Investments	0	0	0	-5.83B	0	-14.58B	-14.1B	-13.37B	-18.02B
Sale/Maturity of Investments	0	0	0	1000K	0	1000K	1000K	1000K	1000K
Other Investing	-828M	-252M	-2.22B	50M	-2.56B	150M	313M	340M	-682M
Cash from Financing+	829.87M	540M	739M	1.29B	2.52B	5.63B	5.63B	3.69B	2.65B
Dividends Paid	0	0	0	-9M	0	0	0	-101M	-121M
Share Repurchases	0	0	-4M	-65M	0	0	0	-18M	-12M
Stock Issued	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	0	0	0	0	0	1000K	1000K	1000K	1000K
Other Financing	829.87M	540M	739M	1.36B	2.52B	5.24B	5.08B	3.15B	2.1B
Net Change in Cash+	1.22M	1.3B	-644M	413M	818M	644M	-573M	603M	701M
Exchange Rate Effect	0	0	0	0	1000K	0	0	0	0
Cash at Beginning	0	0	1.22B	522M	935M	889M	1.53B	960M	1.56B
Cash at End	1.22M	1.3B	571M	935M	1.75B	1.53B	960M	1.56B	2.26B
Free Cash Flow+	-645.71K	1.01B	890M	637M	35M	1.84B	3.14B	5.81B	5.97B
FCF Growth %	-	1562.07%	-0.12%	-0.28%	-0.95%	51.51%	0.71%	0.85%	0.03%
FCF Margin %	-	-	-	-	-	-	-	-	-
FCF per Share	-0.03	4.7	4.12	2.99	0.23	17.5	27.3	46.83	45.61

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	131.59%	87.27%	91.84%	76.78%	6.92%	54.15%	64.58%	100.82%	85.65%
Medical Cost Ratio	0%	0%	0%	63.32%	0%	57.08%	50.29%	83.19%	69.93%
Return on Equity (ROE)	-6.73%	-112.1%	-1.1%	22.4%	-5.21%	28.98%	18.43%	-2.11%	17.8%
Return on Assets (ROA)	-0.05%	-7.29%	-0.05%	1.22%	-0.47%	2.8%	1.23%	-0.09%	0.82%
Equity / Assets	0.72%	6.64%	2.97%	7.52%	10.25%	9.2%	4.4%	4.42%	4.79%
Book Value / Share	0.27	9.26	4.25	12.94	27.16	42.71	20.91	25.02	31.11
Debt / Equity	-	0.21x	0.59x	0.20x	0.15x	0.22x	0.47x	0.57x	0.54x
Revenue Growth	-	185914.7%	-64.09%	154.99%	-21.13%	136.71%	-33.86%	90.75%	26.93%

Revenue by Segment

	2024
Reportable	5.74B
Reportable Growth	-

Frequently Asked Questions

Valuation & Price

F&G Annuities & Life, Inc. (FG) has a price-to-earnings (P/E) ratio of 5.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

F&G Annuities & Life, Inc. (FG) grew revenue by 26.9% over the past year. This is strong growth.

Yes, F&G Annuities & Life, Inc. (FG) is profitable, generating $464.0M in net income for fiscal year 2024 (11.8% net margin).

Dividend & Returns

Yes, F&G Annuities & Life, Inc. (FG) pays a dividend with a yield of 3.33%. This makes it attractive for income-focused investors.

F&G Annuities & Life, Inc. (FG) has a return on equity (ROE) of 17.8%. This is reasonable for most industries.

Industry Metrics

F&G Annuities & Life, Inc. (FG) has a combined ratio of 85.6%. A ratio below 100% indicates underwriting profitability.

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