NYSE · Financial Statements

F&G Annuities & Life, Inc. (FG) Financial Statements

$20.66 NYSE: FG Market Cap $2.74B

F&G Annuities & Life, Inc. most recently reported annual revenue of $5.7B, net profit of $265.0M. Revenue grew at an average annual rate of 32.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

F&G Annuities & Life, Inc.: Revenue rose from $1.0M in 2016 to $5.7B in 2025, a change of +573000.0% over 9 years; net profit was positive in 5 of 10 reported years; operating margin moved from -31.6% to 5.6%, a shift of +37.2 percentage points; the most recent year shows net profit of $265.0M.

Income Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$1.0M	$2.0B	$711.0M	$1.8B	$1.4B	$3.4B	$2.2B	$4.3B	$5.4B	$5.7B
Operating Expenses	$1.0M	$1.7B	$653.0M	$1.4B	$99.0M	$1.8B	$1.4B	$4.3B	$4.6B	$5.4B
Operating Profit	$0	$252.0M	$58.0M	$421.0M	$1.3B	$1.6B	$793.0M	$-35.0M	$778.0M	$323.0M
Operating Margin	-31.6%	12.7%	8.2%	23.2%	93.1%	45.9%	35.4%	-0.8%	14.3%	5.6%
Other Income	$0	$-24.0M	$-29.0M	$0	$-1.5B	$0	$0	$0	$0	$0
Interest	$0	$0	$0	$32.0M	$0	$29.0M	$29.0M	$97.0M	$132.0M	$164.0M
Depreciation	$0	$-252.0M	$-58.0M	$128.0M	$0	$271.0M	$324.0M	$412.0M	$569.0M	$665.0M
Profit Before Tax	$0	$228.0M	$29.0M	$421.0M	$-128.0M	$1.6B	$793.0M	$-35.0M	$778.0M	$323.0M
Tax	$0	$579.0M	$55.2M	$14.3M	$69.5M	$20.6M	$19.9M	$-65.7M	$17.5M	$16.1M
Net Profit	$0	$-1.1B	$-16.0M	$412.0M	$-178.0M	$1.2B	$635.0M	$-58.0M	$639.0M	$265.0M
EPS	$-0.02	$-5.21	$-0.07	$1.93	$-0.31	$8.24	$5.52	$-0.47	$4.88	$1.88
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$783.0M	$1.6B	$1.5B	$1.1B	$1.4B	$1.5B	$854.0M	$1.3B	$1.6B	$1.8B	$1.2B	$1.4B
Operating Expenses	$403.0M	$1.9B	$1.4B	$821.0M	$1.4B	$1.1B	$880.0M	$1.2B	$1.5B	$1.6B	$864.0M	$1.5B
Operating Profit	$380.0M	$-375.0M	$142.0M	$254.0M	$-30.0M	$412.0M	$-26.0M	$57.0M	$131.0M	$161.0M	$323.0M	$-94.0M
Operating Margin	48.5%	-24.2%	9.4%	23.6%	-2.2%	28.0%	-3.0%	4.4%	8.2%	9.1%	27.2%	-6.6%
Interest	$24.0M	$26.0M	$30.0M	$28.0M	$36.0M	$38.0M	$40.0M	$41.0M	$42.0M	$41.0M	$41.0M	$41.0M
Profit Before Tax	$380.0M	$-375.0M	$142.0M	$254.0M	$-30.0M	$412.0M	$-26.0M	$57.0M	$131.0M	$161.0M	$323.0M	$-94.0M
Tax	$19.5M	$20.3M	$18.3M	$19.7M	$83.3M	$20.6M	$19.2M	$26.3M	$8.4M	$19.3M	$22.9M	$20.2M
Net Profit	$306.0M	$-299.0M	$115.0M	$203.0M	$-6.0M	$327.0M	$-21.0M	$40.0M	$118.0M	$128.0M	$248.0M	$-76.0M
EPS	$2.45	$-2.41	$0.85	$1.55	$-0.08	$2.50	$-0.20	$0.26	$0.85	$0.89	$1.78	$-0.62

Over the 10 years reported for F&G Annuities & Life, Inc., cash stood at $1.5B in the latest year, shareholders' equity was $0.

Balance Sheet — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$692.0M	$29.9B	$30.9B	$36.7B	$39.8B	$48.7B	$54.6B	$70.2B	$85.0B	$98.4B
Current Assets	$1.0M	$1.2B	$571.0M	$969.0M	$0	$35.5B	$0	$0	$48.6B	$1.5B
Cash	$1.0M	$1.2B	$571.0M	$969.0M	$889.0M	$1.5B	$960.0M	$1.6B	$2.3B	$1.5B
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Receivables	$0	$0	$0	$0	$3.2B	$3.7B	$5.4B	$9.0B	$13.4B	$17.6B
Fixed Assets	$0	$0	$0	$0	$19.0M	$21.0M	$21.0M	$0	$0	$285.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$0	$0	$54.1B	$64.2B	$68.8B	$87.4B	$49.9B	$57.6B
Other Assets	$0	$467.0M	$467.0M	$467.0M	$1.8B	$1.8B	$1.7B	$1.7B	$2.2B	$2.2B
Total Liabilities	$0	$27.9B	$30.0B	$34.0B	$35.7B	$44.2B	$52.2B	$67.1B	$81.0B	$93.5B
Current Liabilities	$0	$43.0M	$81.0M	$129.0M	$0	$220.0M	$0	$0	$11.8B	$0
Borrowings	$0	$412.0M	$541.0M	$542.0M	$603.0M	$991.0M	$1.1B	$1.8B	$2.2B	$2.2B
Other Liabilities	$0	$27.5B	$29.5B	$33.4B	$35.1B	$43.3B	$51.1B	$65.3B	$78.8B	$91.3B
Equity	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Reserves	$5.0M	$2.0B	$919.0M	$2.8B	$4.1B	$4.5B	$2.4B	$3.1B	$4.0B	$4.8B

For F&G Annuities & Life, Inc., operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $4.7B; free cash flow was positive in 9 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$-1.0M	$1.0B	$897.0M	$652.0M	$63.0M	$1.9B	$3.2B	$5.8B	$6.0B	$4.7B
Investing Cash Flow	$-828.0M	$-276.0M	$-2.3B	$-1.5B	$-2.6B	$-6.9B	$-9.4B	$-8.9B	$-8.0B	$-8.4B
Financing Cash Flow	$830.0M	$540.0M	$735.0M	$1.3B	$2.5B	$5.2B	$5.1B	$3.1B	$2.1B	$2.8B
Net Cash Flow	$1.0M	$1.3B	$-644.0M	$413.0M	$818.0M	$644.0M	$-573.0M	$603.0M	$701.0M	$-778.0M
Free Cash Flow	$-1.0M	$1.0B	$890.0M	$637.0M	$35.0M	$1.8B	$3.1B	$5.8B	$6.0B	$4.7B

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.43
EV / EBITDA	2.19
FCF Yield	161.46%
Quick Ratio	0.93
Interest Coverage	3.16
Return 1Y	-0.36%
Return 3Y	28.76%
Return 5Y	—

F&G Annuities & Life, Inc. (FG) financials — frequently asked questions

What is F&G Annuities & Life, Inc.'s annual revenue?

F&G Annuities & Life, Inc. (FG) reported annual revenue of $5.7B in its most recent fiscal year.

What is F&G Annuities & Life, Inc.'s net profit?

F&G Annuities & Life, Inc. (FG) reported net profit of $265.0M in its most recent fiscal year.

What is FG EV/EBITDA?

F&G Annuities & Life, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 2.19.

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