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

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.

Ticker: FG
Exchange: NYSE
Sector: Financial Services
Industry: Insurance - Life
Market cap: $3.06B
52-week range: $18.75 - $35.33

Valuation

Share price: $23.38 (close of Nov 6, 2026)
P/E (TTM): 2.96x
Price to book: 0.69x
Price to free cash flow: 0.70x
Enterprise value: $3.75B
Book value per share: $34.04

Price performance

Period	Change
1 day	+7.84%
5 days	+10.65%
1 month	+12.84%
3 months	-19.88%
6 months	-20.67%
Year to date	-24.21%
1 year	-21.73%
3 years	-26.89%
All time	+39.58%

Short interest

As of: Oct 15, 2026
Short % of float: 13.65%
Shares short: 4.53M
Days to cover: 5.54
Change since prior report: +12.78%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 5.39%
Return on assets: 0.27%
Net margin: 4.62%
Revenue growth: -0.23%
Net income growth: -58.53%
Free cash flow growth: -21.97%

Cash flow and balance sheet

Free cash flow yield (TTM): 143.06%
Net debt to EBITDA: 0.31x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $5.73B
Net income: $265.00M
Earnings per share: $1.89
Interest expense: $164.00M
Shares outstanding: 131.00M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$5.73B	$265.00M	$1.89
2024-12-31	$5.74B	$639.00M	$4.98
2023-12-31	$4.50B	-$58.00M	-$0.47
2022-12-31	$2.35B	$635.00M	$5.52
2021-12-31	$3.97B	$1.24B	$11.81

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	4.62%	5.39%
2024-12-31	11.12%	15.68%
2023-12-31	-1.29%	-1.87%
2022-12-31	27.03%	26.40%
2021-12-31	31.20%	24.63%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.49B	$2.24B
2024-12-31	$2.26B	$2.17B
2023-12-31	$1.56B	$1.75B
2022-12-31	$960.00M	$1.11B
2021-12-31	$1.53B	$977.00M
2020-12-31	$889.00M	$603.00M
2019-12-31	$969.00M	$542.00M
2018-12-31	$571.00M	$541.00M
2017-12-31	$1.22B	$412.00M
2016-12-31	$1.02M	-

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$4.68B	$31.00M
2024-12-31	$6.00B	$29.00M
2023-12-31	$5.83B	$23.00M
2022-12-31	$3.17B	$12.00M
2021-12-31	$1.87B	$9.00M
2020-12-31	$35.00M	$7.00M
2019-12-31	$637.00M	$4.00M
2018-12-31	$890.00M	$4.00M
2017-12-31	$1.01B	-$12.00M
2016-12-31	-$645.71K	-

Dividend history

Most recent payment: Sep 16, 2026
Paid in the last twelve months: $1.00

Payment date	Dividend per share
2026-09-16	$0.25
2026-06-16	$0.25
2026-03-17	$0.25
2025-12-17	$0.25
2025-09-16	$0.22
2025-06-16	$0.22
2025-03-17	$0.22
2024-12-17	$0.22

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$0.66
2026-08-05	Jun 2026	$0.78
2026-05-06	Mar 2026	-
2026-02-19	Dec 2025	$1.34
2025-11-06	Sep 2025	$1.02
2025-08-06	Jun 2025	$0.64
2025-05-07	Mar 2025	$1.19
2025-02-20	Dec 2024	$1.26

Filings and sources

Company website: fglife.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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