F&G Annuities & Life (FG) Financials

$34.76 +0.30 (+0.87%)

Closing price 03:59 PM Eastern

Extended Trading

$34.69 -0.07 (-0.20%)

As of 04:07 PM Eastern

Annual Income Statements for F&G Annuities & Life

This table shows F&G Annuities & Life's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,240	635	-58	622
Consolidated Net Income / (Loss)	1,240	635	-58	642
Net Income / (Loss) Continuing Operations	1,232	635	-58	642
Total Pre-Tax Income	1,552	793	-35	778
Total Operating Income	1,581	822	62	910
Total Gross Profit	3,845	2,192	4,268	5,448
Total Revenue	3,974	2,349	4,500	5,744
Operating Revenue	3,974	2,349	4,500	5,744
Total Cost of Revenue	129	157	232	296
Operating Cost of Revenue	129	157	232	296
Total Operating Expenses	2,264	1,370	4,206	4,538
Selling, General & Admin Expense	105	102	146	203
Depreciation Expense	271	324	412	569
Other Operating Expenses / (Income)	1,888	944	3,648	3,766
Total Other Income / (Expense), net	-29	-29	-97	-132
Interest Expense	29	29	97	132
Income Tax Expense	320	158	23	136
Preferred Stock Dividends Declared	-	0.00	0.00	17
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	3.00
Basic Earnings per Share	$11.81	$5.52	($0.47)	$4.98
Weighted Average Basic Shares Outstanding	105M	115M	124M	125M
Diluted Earnings per Share	$11.81	$5.52	($0.47)	$4.88
Weighted Average Diluted Shares Outstanding	105M	115M	124M	131M
Weighted Average Basic & Diluted Shares Outstanding	-	126.41M	126.28M	126.77M
Cash Dividends to Common per Share	-	$0.20	$0.81	$0.85

This table shows F&G Annuities & Life's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	187	-176	-195	130	306	-299	111	198	-10	323
Consolidated Net Income / (Loss)	187	-176	-195	130	306	-299	116	204	-5.00	327
Net Income / (Loss) Continuing Operations	187	-176	-195	130	306	-299	116	204	-5.00	327
Total Pre-Tax Income	238	-272	-203	163	380	-375	142	254	-30	412
Total Operating Income	244	-266	-181	188	404	-349	172	282	6.00	450
Total Gross Profit	924	582	816	1,112	793	1,547	1,514	1,083	1,293	1,558
Total Revenue	902	627	869	1,168	851	1,612	1,569	1,172	1,444	1,559
Operating Revenue	902	627	869	1,168	851	1,612	1,569	1,172	1,444	1,559
Total Cost of Revenue	-22	45	53	56	58	65	55	89	151	1.00
Operating Cost of Revenue	-22	45	53	56	58	65	55	89	151	1.00
Total Operating Expenses	680	848	997	924	389	1,896	1,342	801	1,287	1,108
Selling, General & Admin Expense	28	25	36	33	38	39	58	46	45	54
Depreciation Expense	82	86	90	104	108	110	123	147	147	152
Other Operating Expenses / (Income)	570	737	871	787	243	1,747	1,161	608	1,095	902
Total Other Income / (Expense), net	-6.00	-6.00	-22	-25	-24	-26	-30	-28	-36	-38
Interest Expense	6.00	6.00	22	25	24	26	30	28	36	38
Income Tax Expense	51	-96	-8.00	33	74	-76	26	50	-25	85
Preferred Stock Dividends Declared	-	-	0.00	0.00	0.00	-	4.00	5.00	4.00	4.00
Basic Earnings per Share	$1.50	($1.86)	($1.56)	$1.04	$2.47	($2.42)	$0.90	$1.60	($0.08)	$2.56
Weighted Average Basic Shares Outstanding	125M	115M	125M	125M	124M	124M	124M	124M	124M	125M
Diluted Earnings per Share	$1.50	($1.86)	($1.56)	$1.04	$2.45	($2.40)	$0.88	$1.55	($0.08)	$2.53
Weighted Average Diluted Shares Outstanding	125M	115M	125M	125M	125M	124M	130M	131M	124M	131M
Weighted Average Basic & Diluted Shares Outstanding	-	126.41M	126.38M	125.51M	125.50M	126.28M	126.14M	126.10M	126.09M	126.77M

This table details how cash moves in and out of F&G Annuities & Life's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Change in Cash & Equivalents	644	-573	603	701
Net Cash From Operating Activities	1,871	3,171	5,834	5,999
Net Cash From Continuing Operating Activities	1,871	3,171	5,834	5,999
Net Income / (Loss) Continuing Operations	1,240	635	-58	642
Consolidated Net Income / (Loss)	1,240	635	-58	642
Depreciation Expense	271	324	412	569
Non-Cash Adjustments To Reconcile Net Income	125	2,260	4,750	4,424
Changes in Operating Assets and Liabilities, net	235	-48	730	364
Net Cash From Investing Activities	-6,862	-9,370	-8,918	-7,953
Net Cash From Continuing Investing Activities	-6,862	-9,370	-8,918	-7,953
Purchase of Property, Plant & Equipment	-33	-32	-27	-24
Acquisitions	-1,731	-987	-1,137	-1,114
Purchase of Investments	-14,556	-12,426	-13,326	-16,922
Sale and/or Maturity of Investments	9,501	4,088	5,591	10,635
Other Investing Activities, net	-43	-13	-19	-528
Net Cash From Financing Activities	5,635	5,626	3,687	2,655
Net Cash From Continuing Financing Activities	5,635	5,626	3,687	2,655
Repayment of Debt	-2,931	-3,454	-4,826	-8,645
Repurchase of Common Equity	0.00	0.00	-18	-12
Payment of Dividends	0.00	0.00	-101	-135
Issuance of Debt	400	550	845	1,050
Issuance of Preferred Equity	-	0.00	0.00	250
Other Financing Activities, net	8,166	8,530	7,787	10,147

This table details how cash moves in and out of F&G Annuities & Life's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	392	-424	624	104	54	-179	809	1,154	13	-1,275
Net Cash From Operating Activities	1,160	1,283	1,437	1,380	795	2,222	1,534	1,055	2,090	1,320
Net Cash From Continuing Operating Activities	1,160	1,283	1,437	1,380	795	2,222	1,534	1,055	2,090	1,320
Net Income / (Loss) Continuing Operations	187	-176	-195	130	306	-299	116	204	-5.00	327
Consolidated Net Income / (Loss)	187	-176	-195	130	306	-299	116	204	-5.00	327
Depreciation Expense	82	86	90	104	108	110	123	147	147	152
Non-Cash Adjustments To Reconcile Net Income	667	1,347	1,571	1,053	490	1,636	1,114	736	1,733	841
Net Cash From Investing Activities	-2,168	-3,165	-2,408	-1,838	-1,408	-3,264	-1,384	-1,845	-1,916	-2,808
Net Cash From Continuing Investing Activities	-2,168	-3,165	-2,408	-1,838	-1,408	-3,264	-1,384	-1,845	-1,916	-2,808
Purchase of Property, Plant & Equipment	-7.00	-5.00	-6.00	-8.00	-7.00	-6.00	-7.00	-5.00	-7.00	-5.00
Acquisitions	-158	-141	-293	-358	-259	-227	-266	-397	-226	-225
Purchase of Investments	-2,989	-2,884	-3,900	-3,007	-3,286	-3,133	-3,636	-3,484	-4,895	-4,907
Sale and/or Maturity of Investments	986	-122	1,791	1,535	2,144	121	2,793	2,047	3,427	2,368
Other Investing Activities, net	-	-	0.00	-	-	-19	-268	-6.00	-215	-39
Net Cash From Financing Activities	1,400	1,458	1,595	562	667	863	659	1,944	-161	213
Net Cash From Continuing Financing Activities	1,400	1,458	1,595	562	667	863	659	1,944	-161	213
Repayment of Debt	-657	-1,053	-995	-1,129	-1,177	-1,525	-1,488	-2,538	-2,802	-1,817
Repurchase of Common Equity	-	-	0.00	-16	-2.00	-	-6.00	-	-	-6.00
Payment of Dividends	-	-	-25	-25	-25	-26	-26	-35	-37	-37
Issuance of Debt	-	550	500	-	-	345	0.00	550	-	500
Other Financing Activities, net	2,057	1,961	2,115	1,732	1,871	2,069	1,929	3,967	2,678	1,573

This table presents F&G Annuities & Life's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Total Assets	48,730	54,628	70,202	85,040
Total Current Assets	6,321	34,703	44,392	52,050
Cash & Equivalents	1,533	960	1,563	2,264
Short-Term Investments	373	32,774	41,871	48,727
Prepaid Expenses	613	941	931	1,059
Current Deferred & Refundable Income Taxes	50	28	27	0.00
Plant, Property, & Equipment, net	13	0.00	0.00	0.00
Total Noncurrent Assets	42,396	19,925	25,810	32,990
Long-Term Investments	34,788	4,059	5,082	5,456
Noncurrent Note & Lease Receivables	-	4,554	5,336	5,926
Goodwill	1,756	1,749	1,749	2,179
Intangible Assets	2,234	3,429	4,207	5,572
Noncurrent Deferred & Refundable Income Taxes	0.00	600	388	299
Other Noncurrent Operating Assets	3,618	5,534	9,048	13,558
Total Liabilities & Shareholders' Equity	48,730	54,628	70,202	85,040
Total Liabilities	44,245	52,223	67,099	80,964
Total Current Liabilities	1,297	1,260	2,011	2,224
Accounts Payable	1,297	1,260	2,011	2,219
Current Deferred & Payable Income Tax Liabilities	-	-	0.00	5.00
Total Noncurrent Liabilities	42,948	50,963	65,088	78,740
Long-Term Debt	977	1,114	1,754	2,171
Other Noncurrent Operating Liabilities	41,947	49,849	63,334	76,569
Total Equity & Noncontrolling Interests	4,485	2,405	3,103	4,076
Total Preferred & Common Equity	4,485	2,405	3,103	3,951
Preferred Stock	-	-	0.00	0.00
Total Common Equity	4,485	2,405	3,103	3,951
Common Stock	2,750	3,162	3,185	3,464
Retained Earnings	1,001	2,061	1,926	2,440
Treasury Stock	-	0.00	-18	-30
Accumulated Other Comprehensive Income / (Loss)	734	-2,818	-1,990	-1,923
Noncontrolling Interest	-	-	0.00	125

This table presents F&G Annuities & Life's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	59,414	62,587	63,623	74,434	78,512	84,123
Total Current Assets	37,530	39,398	39,884	46,269	48,767	52,073
Cash & Equivalents	1,584	1,688	1,742	2,372	3,526	3,539
Short-Term Investments	34,973	36,529	37,039	42,894	44,247	47,590
Prepaid Expenses	948	1,168	1,076	980	983	942
Current Deferred & Refundable Income Taxes	25	13	27	23	11	2.00
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	21,884	23,189	23,739	28,165	29,745	32,050
Long-Term Investments	4,463	4,773	4,655	5,544	5,876	6,177
Noncurrent Note & Lease Receivables	4,984	5,076	5,174	5,440	5,439	5,626
Goodwill	1,749	1,749	1,749	2,017	2,017	2,179
Intangible Assets	3,677	3,851	4,005	4,612	4,952	5,349
Noncurrent Deferred & Refundable Income Taxes	544	546	576	345	327	181
Other Noncurrent Operating Assets	6,467	7,194	7,580	10,207	11,134	12,538
Total Liabilities & Shareholders' Equity	59,414	62,587	63,623	74,434	78,512	84,123
Total Liabilities	56,929	60,069	61,251	70,751	74,724	79,648
Total Current Liabilities	1,453	1,719	1,452	2,237	2,328	3,291
Accounts Payable	1,453	1,719	1,452	2,237	2,328	3,291
Total Noncurrent Liabilities	55,476	58,350	59,799	68,514	72,396	76,357
Long-Term Debt	1,572	1,571	1,569	1,748	2,038	2,038
Other Noncurrent Operating Liabilities	53,904	56,779	58,230	66,766	70,358	74,319
Total Equity & Noncontrolling Interests	2,485	2,518	2,372	3,683	3,788	4,475
Total Preferred & Common Equity	2,485	2,518	2,372	3,546	3,654	4,346
Preferred Stock	-	-	-	0.00	0.00	0.00
Total Common Equity	2,485	2,518	2,372	3,546	3,654	4,346
Common Stock	3,167	3,173	3,178	3,442	3,449	3,456
Retained Earnings	1,866	1,971	2,252	2,011	2,182	2,145
Treasury Stock	0.00	-16	-18	-24	-24	-24
Accumulated Other Comprehensive Income / (Loss)	-2,548	-2,610	-3,040	-1,883	-1,953	-1,231
Noncontrolling Interest	-	-	-	137	134	129

This table displays calculated financial ratios and metrics derived from F&G Annuities & Life's official financial filings.

Metric	2021	2022	2023	2024
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	-40.89%	91.57%	27.64%
EBITDA Growth	0.00%	-38.12%	-58.64%	212.03%
EBIT Growth	0.00%	-48.01%	-92.46%	1,367.74%
NOPAT Growth	0.00%	-47.55%	-93.41%	1,630.24%
Net Income Growth	0.00%	-48.79%	-109.13%	1,206.90%
EPS Growth	0.00%	-53.26%	-108.51%	1,138.30%
Operating Cash Flow Growth	0.00%	69.48%	83.98%	2.83%
Free Cash Flow Firm Growth	0.00%	0.00%	154.81%	-22.66%
Invested Capital Growth	0.00%	-9.74%	-27.38%	-14.98%
Revenue Q/Q Growth	0.00%	0.00%	28.02%	-0.91%
EBITDA Q/Q Growth	0.00%	0.00%	-67.91%	131.82%
EBIT Q/Q Growth	0.00%	0.00%	-94.31%	719.82%
NOPAT Q/Q Growth	0.00%	0.00%	-95.83%	866.44%
Net Income Q/Q Growth	0.00%	0.00%	-189.23%	3,912.50%
EPS Q/Q Growth	0.00%	0.00%	-771.43%	9,860.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	19.18%	-13.07%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-35.90%
Invested Capital Q/Q Growth	0.00%	0.00%	-10.54%	1.17%
Profitability Metrics	-	-	-	-
Gross Margin	96.75%	93.32%	94.84%	94.85%
EBITDA Margin	46.60%	48.79%	10.53%	25.75%
Operating Margin	39.78%	34.99%	1.38%	15.84%
EBIT Margin	39.78%	34.99%	1.38%	15.84%
Profit (Net Income) Margin	31.20%	27.03%	-1.29%	11.18%
Tax Burden Percent	79.90%	80.08%	165.71%	82.52%
Interest Burden Percent	98.17%	96.47%	-56.45%	85.49%
Effective Tax Rate	20.62%	19.92%	0.00%	17.48%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	27.65%	18.43%	-2.11%	17.89%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	3.24%	1.59%	0.10%	1.17%
Return on Assets (ROA)	2.54%	1.23%	-0.09%	0.83%
Return on Common Equity (ROCE)	27.65%	18.43%	-2.11%	17.57%
Return on Equity Simple (ROE_SIMPLE)	27.65%	26.40%	-1.87%	16.25%
Net Operating Profit after Tax (NOPAT)	1,255	658	43	751
NOPAT Margin	31.58%	28.02%	0.96%	13.07%
Net Nonoperating Expense Percent (NNEP)	-0.04%	-0.06%	-0.24%	-0.22%
Return On Investment Capital (ROIC_SIMPLE)	-	18.70%	0.89%	12.02%
Cost of Revenue to Revenue	3.25%	6.68%	5.16%	5.15%
SG&A Expenses to Revenue	2.64%	4.34%	3.24%	3.53%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	56.97%	58.32%	93.47%	79.00%
Earnings before Interest and Taxes (EBIT)	1,581	822	62	910
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,852	1,146	474	1,479
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.19	1.00	1.83	1.33
Price to Tangible Book Value (P/TBV)	1.73	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.21	1.02	1.27	0.91
Price to Earnings (P/E)	0.69	3.78	0.00	8.42
Dividend Yield	0.00%	0.00%	1.80%	2.05%
Earnings Yield	145.18%	26.45%	0.00%	11.87%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.22	0.46	0.57	0.53
Long-Term Debt to Equity	0.22	0.46	0.57	0.53
Financial Leverage	-7.96	-10.51	-15.15	-14.07
Leverage Ratio	10.87	15.00	22.66	21.62
Compound Leverage Factor	10.67	14.47	-12.79	18.49
Debt to Total Capital	17.89%	31.66%	36.11%	34.75%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	17.89%	31.66%	36.11%	34.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	2.00%
Common Equity to Total Capital	82.11%	68.34%	63.89%	63.25%
Debt to EBITDA	0.53	0.97	3.70	1.47
Net Debt to EBITDA	-19.29	-32.01	-98.65	-36.70
Long-Term Debt to EBITDA	0.53	0.97	3.70	1.47
Debt to NOPAT	0.78	1.69	40.41	2.89
Net Debt to NOPAT	-28.46	-55.72	-1,077.47	-72.28
Long-Term Debt to NOPAT	0.78	1.69	40.41	2.89
Altman Z-Score	0.35	0.91	0.88	0.88
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	1.74%
Liquidity Ratios	-	-	-	-
Current Ratio	4.87	27.54	22.07	23.40
Quick Ratio	4.36	26.77	21.60	22.93
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	3,700	9,428	7,292
Operating Cash Flow to CapEx	5,669.70%	9,909.38%	21,607.41%	24,995.83%
Free Cash Flow to Firm to Interest Expense	0.00	127.59	97.20	55.24
Operating Cash Flow to Interest Expense	64.52	109.34	60.14	45.45
Operating Cash Flow Less CapEx to Interest Expense	63.38	108.24	59.87	45.27
Efficiency Ratios	-	-	-	-
Asset Turnover	0.08	0.05	0.07	0.07
Accounts Receivable Turnover	1,324.67	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	305.69	0.00	0.00	0.00
Accounts Payable Turnover	0.10	0.12	0.14	0.14
Days Sales Outstanding (DSO)	0.28	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	3,669.81	2,972.31	2,573.09	2,608.02
Cash Conversion Cycle (CCC)	-3,669.53	-2,972.31	-2,573.09	-2,608.02
Capital & Investment Metrics	-	-	-	-
Invested Capital	-31,232	-34,274	-43,659	-50,200
Invested Capital Turnover	-0.13	-0.07	-0.12	-0.12
Increase / (Decrease) in Invested Capital	0.00	-3,042	-9,385	-6,541
Enterprise Value (EV)	-34,863	-34,278	-41,069	-48,913
Market Capitalization	854	2,401	5,693	5,238
Book Value per Share	$42.71	$20.91	$24.73	$31.33
Tangible Book Value per Share	$4.71	($24.11)	($22.73)	($30.14)
Total Capital	5,462	3,519	4,857	6,247
Total Debt	977	1,114	1,754	2,171
Total Long-Term Debt	977	1,114	1,754	2,171
Net Debt	-35,717	-36,679	-46,762	-54,276
Capital Expenditures (CapEx)	33	32	27	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,118	-291	-1,053	-1,165
Debt-free Net Working Capital (DFNWC)	5,024	33,443	42,381	49,826
Net Working Capital (NWC)	5,024	33,443	42,381	49,826
Net Nonoperating Expense (NNE)	15	23	101	109
Net Nonoperating Obligations (NNO)	-35,717	-36,679	-46,762	-54,276
Total Depreciation and Amortization (D&A)	271	324	412	569
Debt-free, Cash-free Net Working Capital to Revenue	78.46%	-12.39%	-23.40%	-20.28%
Debt-free Net Working Capital to Revenue	126.42%	1,423.71%	941.80%	867.44%
Net Working Capital to Revenue	126.42%	1,423.71%	941.80%	867.44%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$4.18	($0.47)	$4.98
Adjusted Weighted Average Basic Shares Outstanding	0.00	115M	124M	125M
Adjusted Diluted Earnings per Share	$0.00	$4.18	($0.47)	$4.88
Adjusted Weighted Average Diluted Shares Outstanding	0.00	115M	124M	131M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	126.41M	126.28M	126.77M
Normalized Net Operating Profit after Tax (NOPAT)	1,255	658	43	751
Normalized NOPAT Margin	31.58%	28.02%	0.96%	13.07%
Pre Tax Income Margin	39.05%	33.76%	-0.78%	13.54%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	54.52	28.34	0.64	6.89
NOPAT to Interest Expense	43.28	22.70	0.45	5.69
EBIT Less CapEx to Interest Expense	53.38	27.24	0.36	6.71
NOPAT Less CapEx to Interest Expense	42.14	21.59	0.17	5.51
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-174.14%	21.03%
Augmented Payout Ratio	0.00%	0.00%	-205.17%	22.90%

This table displays calculated financial ratios and metrics derived from F&G Annuities & Life's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	15.87%	1,568.57%	-5.65%	157.10%	80.55%	0.34%	69.68%	-3.29%
EBITDA Growth	0.00%	0.00%	-121.21%	-48.86%	57.06%	-32.78%	424.18%	46.92%	-70.12%	351.88%
EBIT Growth	0.00%	0.00%	-151.27%	-61.71%	65.57%	-31.20%	195.03%	50.00%	-98.51%	228.94%
NOPAT Growth	0.00%	0.00%	-151.81%	-61.77%	69.69%	-31.20%	210.90%	51.05%	-98.71%	246.20%
Net Income Growth	0.00%	0.00%	-181.59%	-66.23%	63.64%	-69.89%	159.49%	56.92%	-101.63%	209.36%
EPS Growth	0.00%	0.00%	-168.42%	-71.11%	63.33%	-29.03%	156.41%	49.04%	-103.27%	205.42%
Operating Cash Flow Growth	0.00%	0.00%	239.72%	352.46%	-31.47%	73.19%	6.75%	-23.55%	162.89%	-40.59%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-76.77%	-76.57%	-71.62%	-24.53%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-27.38%	-22.77%	-22.94%	-28.61%	-14.98%
Revenue Q/Q Growth	1,188.57%	-30.49%	38.60%	34.41%	-27.14%	89.42%	-2.67%	-25.30%	23.21%	7.96%
EBITDA Q/Q Growth	-42.91%	-155.21%	-111.91%	420.88%	75.34%	-146.68%	223.43%	45.42%	-64.34%	293.46%
EBIT Q/Q Growth	-50.31%	-209.02%	-126.70%	203.87%	114.89%	-186.39%	149.28%	63.95%	-97.87%	7,400.00%
NOPAT Q/Q Growth	-51.12%	-197.12%	-126.70%	218.34%	116.97%	-175.09%	157.51%	61.19%	-98.15%	8,403.81%
Net Income Q/Q Growth	-51.43%	-194.12%	-10.80%	166.67%	135.38%	-197.71%	138.80%	75.86%	-102.45%	6,640.00%
EPS Q/Q Growth	-58.33%	-224.00%	16.13%	166.67%	135.58%	-197.96%	136.67%	76.14%	-105.16%	3,262.50%
Operating Cash Flow Q/Q Growth	280.33%	10.60%	12.00%	-3.97%	-42.39%	179.50%	-30.96%	-31.23%	98.10%	-36.84%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	6.01%	1.97%	-77.05%	-6.39%	6.92%	23.54%	-38.97%
Invested Capital Q/Q Growth	0.00%	0.00%	-7.85%	-5.24%	-1.53%	-10.54%	-3.94%	-5.39%	-6.21%	1.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	102.44%	92.82%	93.90%	95.21%	93.18%	95.97%	96.49%	92.41%	89.54%	99.94%
EBITDA Margin	36.14%	-28.71%	-10.47%	25.00%	60.16%	-14.83%	18.80%	36.60%	10.60%	38.61%
Operating Margin	27.05%	-42.42%	-20.83%	16.10%	47.47%	-21.65%	10.96%	24.06%	0.42%	28.86%
EBIT Margin	27.05%	-42.42%	-20.83%	16.10%	47.47%	-21.65%	10.96%	24.06%	0.42%	28.86%
Profit (Net Income) Margin	20.73%	-28.07%	-22.44%	11.13%	35.96%	-18.55%	7.39%	17.41%	-0.35%	20.98%
Tax Burden Percent	78.57%	64.71%	96.06%	79.75%	80.53%	79.73%	81.69%	80.32%	16.67%	79.37%
Interest Burden Percent	97.54%	102.26%	112.15%	86.70%	94.06%	107.45%	82.56%	90.07%	-500.00%	91.56%
Effective Tax Rate	21.43%	0.00%	0.00%	20.25%	19.47%	0.00%	18.31%	19.69%	0.00%	20.63%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	18.43%	8.09%	-2.14%	2.74%	-2.11%	8.20%	10.37%	0.47%	17.89%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-1.93%	-0.87%	0.92%	2.62%	-1.56%	0.85%	1.77%	0.03%	2.14%
Return on Assets (ROA)	0.00%	-1.28%	-0.93%	0.63%	1.99%	-1.34%	0.57%	1.28%	-0.03%	1.55%
Return on Common Equity (ROCE)	0.00%	18.43%	8.09%	-2.14%	2.74%	-2.11%	8.02%	10.15%	0.46%	17.57%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	8.09%	-2.14%	2.74%	0.00%	7.13%	8.95%	0.37%	0.00%
Net Operating Profit after Tax (NOPAT)	192	-186	-127	150	325	-244	141	226	4.20	357
NOPAT Margin	21.25%	-29.70%	-14.58%	12.84%	38.23%	-15.16%	8.96%	19.32%	0.29%	22.91%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.03%	-0.35%	-0.10%	-0.09%	-0.13%	-0.06%	-0.05%	-0.02%	-0.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-5.29%	-	-	-	-5.03%	-	-	-	5.72%
Cost of Revenue to Revenue	-2.44%	7.18%	6.10%	4.79%	6.82%	4.03%	3.51%	7.59%	10.46%	0.06%
SG&A Expenses to Revenue	3.10%	3.99%	4.14%	2.83%	4.47%	2.42%	3.70%	3.92%	3.12%	3.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	75.39%	135.25%	114.73%	79.11%	45.71%	117.62%	85.53%	68.34%	89.13%	71.07%
Earnings before Interest and Taxes (EBIT)	244	-266	-181	188	404	-349	172	282	6.00	450
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	326	-180	-91	292	512	-239	295	429	153	602
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.00	0.90	1.22	1.46	1.83	1.45	1.32	1.30	1.33
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	1.02	0.90	0.86	0.99	1.27	0.99	0.92	0.98	0.91
Price to Earnings (P/E)	0.00	3.78	11.10	0.00	53.45	0.00	20.67	15.22	0.00	8.42
Dividend Yield	0.00%	0.00%	1.13%	1.65%	2.18%	1.80%	2.02%	2.18%	1.88%	2.05%
Earnings Yield	0.00%	26.45%	9.01%	0.00%	1.87%	0.00%	4.84%	6.57%	0.00%	11.87%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.46	0.63	0.62	0.66	0.57	0.47	0.54	0.46	0.53
Long-Term Debt to Equity	0.00	0.46	0.63	0.62	0.66	0.57	0.47	0.54	0.46	0.53
Financial Leverage	0.00	-15.25	-15.87	-16.45	-17.65	-15.15	-14.35	-14.75	-14.19	-14.07
Leverage Ratio	0.00	15.00	23.91	24.86	26.82	22.66	21.70	22.38	21.58	21.62
Compound Leverage Factor	0.00	15.34	26.82	21.55	25.23	24.35	17.92	20.15	-107.89	19.80
Debt to Total Capital	0.00%	31.66%	38.75%	38.42%	39.81%	36.11%	32.19%	34.98%	31.29%	34.75%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	31.66%	38.75%	38.42%	39.81%	36.11%	32.19%	34.98%	31.29%	34.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.52%	2.30%	1.98%	2.00%
Common Equity to Total Capital	0.00%	68.34%	61.25%	61.58%	60.19%	63.89%	65.29%	62.72%	66.73%	63.25%
Debt to EBITDA	0.00	0.97	1.00	1.22	1.06	3.70	2.03	2.04	3.19	1.47
Net Debt to EBITDA	0.00	-32.01	-25.13	-32.08	-28.35	-98.65	-57.05	-51.77	-86.63	-36.70
Long-Term Debt to EBITDA	0.00	0.97	1.00	1.22	1.06	3.70	2.03	2.04	3.19	1.47
Debt to NOPAT	0.00	1.69	1.56	2.42	1.51	40.41	5.16	4.91	26.23	2.89
Net Debt to NOPAT	0.00	-55.72	-39.03	-63.69	-40.22	-1,077.47	-144.86	-124.34	-711.30	-72.28
Long-Term Debt to NOPAT	0.00	1.69	1.56	2.42	1.51	40.41	5.16	4.91	26.23	2.89
Altman Z-Score	0.00	0.84	0.83	0.86	0.88	0.86	0.87	0.87	0.84	0.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.22%	2.13%	1.88%	1.74%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	27.54	25.83	22.92	27.47	22.07	20.68	20.95	15.82	23.40
Quick Ratio	0.00	26.77	25.16	22.23	26.71	21.60	20.24	20.52	15.54	22.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	36,836	39,051	39,820	9,141	8,557	9,148	11,302	6,898
Operating Cash Flow to CapEx	16,571.43%	25,660.00%	23,950.00%	17,250.00%	11,357.14%	37,033.33%	21,914.29%	21,100.00%	29,857.14%	26,400.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	1,674.38	1,562.04	1,659.18	351.57	285.22	326.73	313.95	181.53
Operating Cash Flow to Interest Expense	193.33	213.83	65.32	55.20	33.13	85.46	51.13	37.68	58.06	34.74
Operating Cash Flow Less CapEx to Interest Expense	192.17	213.00	65.05	54.88	32.83	85.23	50.90	37.50	57.86	34.61
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.05	0.04	0.06	0.06	0.07	0.08	0.07	0.08	0.07
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.12	0.08	0.08	0.15	0.14	0.13	0.13	0.15	0.14
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	2,972.31	4,821.32	4,753.30	2,499.91	2,573.09	2,877.88	2,766.21	2,404.44	2,608.02
Cash Conversion Cycle (CCC)	0.00	-2,972.31	-4,821.32	-4,753.30	-2,499.91	-2,573.09	-2,877.88	-2,766.21	-2,404.44	-2,608.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-34,274	-36,963	-38,901	-39,495	-43,659	-45,379	-47,823	-50,793	-50,200
Invested Capital Turnover	0.00	-0.07	-0.13	-0.18	-0.18	-0.12	-0.13	-0.12	-0.13	-0.12
Increase / (Decrease) in Invested Capital	0.00	0.00	-36,963	-38,901	-39,495	-9,385	-8,416	-8,922	-11,298	-6,541
Enterprise Value (EV)	0.00	-34,278	-37,217	-38,358	-38,393	-41,069	-43,799	-46,667	-49,486	-48,913
Market Capitalization	854	2,401	2,231	3,061	3,474	5,693	5,126	4,810	5,653	5,238
Book Value per Share	$0.00	$20.91	$19.66	$19.92	$18.90	$24.73	$28.08	$28.97	$34.47	$31.33
Tangible Book Value per Share	$0.00	($24.11)	($23.27)	($24.39)	($26.95)	($22.73)	($24.41)	($26.28)	($25.23)	($30.14)
Total Capital	0.00	3,519	4,057	4,089	3,941	4,857	5,431	5,826	6,513	6,247
Total Debt	0.00	1,114	1,572	1,571	1,569	1,754	1,748	2,038	2,038	2,171
Total Long-Term Debt	0.00	1,114	1,572	1,571	1,569	1,754	1,748	2,038	2,038	2,171
Net Debt	0.00	-36,679	-39,448	-41,419	-41,867	-46,762	-49,062	-51,611	-55,268	-54,276
Capital Expenditures (CapEx)	7.00	5.00	6.00	8.00	7.00	6.00	7.00	5.00	7.00	5.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-291	-480	-538	-349	-1,053	-1,234	-1,334	-2,347	-1,165
Debt-free Net Working Capital (DFNWC)	0.00	33,443	36,077	37,679	38,432	42,381	44,032	46,439	48,782	49,826
Net Working Capital (NWC)	0.00	33,443	36,077	37,679	38,432	42,381	44,032	46,439	48,782	49,826
Net Nonoperating Expense (NNE)	4.71	-10	68	20	19	55	25	22	9.20	30
Net Nonoperating Obligations (NNO)	0.00	-36,679	-39,448	-41,419	-41,867	-46,762	-49,062	-51,611	-55,268	-54,276
Total Depreciation and Amortization (D&A)	82	86	90	104	108	110	123	147	147	152
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-12.39%	-19.45%	-15.09%	-9.93%	-23.40%	-23.73%	-25.63%	-40.49%	-20.28%
Debt-free Net Working Capital to Revenue	0.00%	1,423.71%	1,461.79%	1,056.62%	1,093.37%	941.80%	846.77%	892.37%	841.50%	867.44%
Net Working Capital to Revenue	0.00%	1,423.71%	1,461.79%	1,056.62%	1,093.37%	941.80%	846.77%	892.37%	841.50%	867.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.86)	($1.56)	$1.04	$2.47	($2.42)	$0.90	$1.60	($0.08)	$2.56
Adjusted Weighted Average Basic Shares Outstanding	0.00	115M	125M	125M	124M	124M	124M	124M	124M	125M
Adjusted Diluted Earnings per Share	$0.00	($1.86)	($1.56)	$1.04	$2.45	($2.40)	$0.88	$1.55	($0.08)	$2.53
Adjusted Weighted Average Diluted Shares Outstanding	0.00	115M	125M	125M	125M	124M	130M	131M	124M	131M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	126.41M	126.38M	125.51M	125.50M	126.28M	126.14M	126.10M	126.09M	126.77M
Normalized Net Operating Profit after Tax (NOPAT)	192	-186	-127	150	325	-244	141	226	4.20	357
Normalized NOPAT Margin	21.25%	-29.70%	-14.58%	12.84%	38.23%	-15.16%	8.96%	19.32%	0.29%	22.91%
Pre Tax Income Margin	26.39%	-43.38%	-23.36%	13.96%	44.65%	-23.26%	9.05%	21.67%	-2.08%	26.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	40.67	-44.33	-8.23	7.52	16.83	-13.42	5.73	10.07	0.17	11.84
NOPAT to Interest Expense	31.95	-31.03	-5.76	6.00	13.56	-9.40	4.68	8.09	0.12	9.40
EBIT Less CapEx to Interest Expense	39.50	-45.17	-8.50	7.20	16.54	-13.65	5.50	9.89	-0.03	11.71
NOPAT Less CapEx to Interest Expense	30.79	-31.87	-6.03	5.68	13.26	-9.63	4.45	7.91	-0.08	9.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	12.44%	-92.59%	115.38%	-174.14%	40.32%	34.25%	775.00%	21.03%
Augmented Payout Ratio	0.00%	0.00%	12.44%	-122.22%	143.08%	-205.17%	49.80%	36.70%	812.50%	22.90%

Frequently Asked Questions About F&G Annuities & Life's Financials

When does F&G Annuities & Life's financial year end?

According to the most recent income statement we have on file, F&G Annuities & Life's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has F&G Annuities & Life's net income changed over the last 3 years?

F&G Annuities & Life's net income appears to be on a downward trend, with a most recent value of $642 million in 2024, falling from $1.24 billion in 2021. The previous period was -$58 million in 2023.

What is F&G Annuities & Life's operating income?

F&G Annuities & Life's total operating income in 2024 was $910 million, based on the following breakdown:

Total Gross Profit: $5.45 billion
Total Operating Expenses: $4.54 billion

How has F&G Annuities & Life revenue changed over the last 3 years?

Over the last 3 years, F&G Annuities & Life's total revenue changed from $3.97 billion in 2021 to $5.74 billion in 2024, a change of 44.5%.

How much debt does F&G Annuities & Life have?

F&G Annuities & Life's total liabilities were at $80.96 billion at the end of 2024, a 20.7% increase from 2023, and a 83.0% increase since 2021.

How much cash does F&G Annuities & Life have?

In the past 3 years, F&G Annuities & Life's cash and equivalents has ranged from $960 million in 2022 to $2.26 billion in 2024, and is currently $2.26 billion as of their latest financial filing in 2024.

How has F&G Annuities & Life's book value per share changed over the last 3 years?

Over the last 3 years, F&G Annuities & Life's book value per share changed from 42.71 in 2021 to 31.33 in 2024, a change of -26.6%.

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This page (NYSE:FG) was last updated on 4/17/2025 by MarketBeat.com Staff

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F&G Annuities & Life (FG) Financials

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F&G Annuities & Life (FG) Financials

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