F&G Annuities & Life (FG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

F&G Annuities & Life

NYSE•Financial Services•Insurance - Life

$23.05-0.22(-0.01%)Pre-market

Market Cap

$3.00B

P/E

7.2x

P/S

0.5x

P/B

0.7x

F&G Annuities & Life, Inc., together with its subsidiaries, provides annuity and life insurance products in the United States. It offers fixed indexed annuities registered index-linked annuities, pension risk transfer and indexed universal life, and multi-year guarantee annuities; immediate annuities; indexed universal life insurance; pension risk transfer solutions; and institutional funding agreements. The company distributes its products through independent agents, banks, and broker-dealers to 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. operates as a subsidiary of Fidelity National Financial, Inc.

How this company scores

GoodMetricSide Score: 63/100

Strongest: Growth (19/25); weakest: Profitability (9/25).

Profitability9/25

Growth19/25

Balance Sheet & Red Flags19/25

Cash & Earnings Quality16/25

Strengths

Growing revenueLow leverageCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 7.2x5y range 4.8x – 426.6x

Currently near its 11-quarter median.

P/S · 0.5x5y range 0.5x – 1.2x

Currently below its 12-quarter median.

P/B · 0.7x5y range 0.7x – 1.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $3.00B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.07B
Q. Revenue: $1.42B
TTM EBITDA: $1.22B
TTM Op. Income: $521.00M
Q. Op. Income: $-94.00M
TTM Net Income: $418.00M
Q. Net Income: $-76.00M
EPS: $-0.62
Shares Out.: $130.00M

$6.07B in TTM revenue grew 15.0% YoY, reaching $1.42B last quarter. TTM EBITDA of $1.22B and TTM operating income of $521.00M show growth is flowing through to the bottom line. TTM net income of $418.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 5.7%
Op. Margin: -6.6%
Net Margin: -5.3%

Op. margin of -6.6% is down 10.8% YoY — costs are rising relative to revenue. Net margin at -5.3% Over the past year, operating margin is down 258% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 7.2x
P/S Ratio: 0.5x
P/B Ratio: 0.7x

At 7.2x P/E, the stock trades below typical market levels. P/S of 0.5x and P/B of 0.7x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 43% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $103.59B
Cash: $2.10B
Long-Term Debt: $2.24B
Book Value: $4.61B
D/E Ratio: 0.5
Debt/EBITDA: 27.6

With $103.59B in assets and $2.24B in long-term debt, D/E is 0.5and book value is $4.61B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.49B
TTM Free Cash Flow: $4.33B
FCF Margin: 71.3%
FCF / Net Income: 10.3

TTM FCF of $4.33B on $1.49B in operating cash flow. The FCF / Net Income ratio of 10.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 4 consecutive quarters — a weakening trend.