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American National Group Inc. (ANG) Financials

ANG
Trailing 12 months to June 30, 2026
Revenue $7.2B -1.1% YoY
Net Income $790.0M +157.3% YoY
Free Cash Flow $2.9B +27.6% YoY
Operating Cash Flow $3.0B +26.2% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ANG SEC filings page.

American National Group Inc. (ANG) reported $7.2B in revenue over the twelve months to Jun 30, 2026, down 1.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ANG FY2025

ANG's dominant mechanic is asset-heavy growth funded by liabilities, while reported cash generation outpaces accounting earnings.

In FY2025, net income was $533M versus free cash flow of $2.7B, a wide gap that points to cash conversion being driven by more than reported profit. That gap widened from FY2024, when those measures were $729M and $2.5B, respectively, indicating weaker earnings quality despite stronger cash output.

By FY2025, liabilities were $120.6B against $130.3B of assets, leaving a thin equity cushion and making return ratios sensitive to small earnings changes. Debt-to-equity was 0.3x, down from 9.4x in FY2021, so that leverage measure improved even though liabilities still dominate the asset base.

FY2025's investing outflow of $9.7B arrived alongside financing inflow of $7.3B, a pattern consistent with major investment being funded externally rather than solely by operating cash. Capital expenditures were just $61M against $2.8B of operating cash flow, so reported reinvestment is not the main consumer of cash in the presented figures.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

American National Group Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
4/6

American National Group Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
5.22x

For every $1 of reported earnings, American National Group Inc. generates $5.22 in operating cash flow ($2.8B OCF vs $533.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.7B
YoY+1.5%
QoQ+6.6%

American National Group Inc. generated $1.7B in revenue in Q2 2026. This represents an increase of 1.5% from the same quarter a year earlier. Against the prior quarter it is up 6.6%.

Net Income
$204.0M
YoY+34.2%
QoQ+20500.0%

American National Group Inc. reported $204.0M in net income in Q2 2026. This represents an increase of 34.2% from the same quarter a year earlier. Against the prior quarter it is up 20500.0%.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow
$672.0M
YoY+30.5%
QoQ-2.3%

American National Group Inc. generated $672.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 30.5% from the same quarter a year earlier. Against the prior quarter it is down 2.3%.

Cash & Debt
$8.4B
YoY-30.5%
QoQ-5.8%
5Y CAGR-6.1%
10Y CAGR+18.5%

American National Group Inc. held $8.4B in cash against $3.0B in long-term debt as of Q2 2026.

Shares Outstanding
10,000
YoY0.0%
QoQ0.0%

American National Group Inc. had 10,000 shares outstanding in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Net Margin
12.0%
YoY+2.9pp
QoQ+12.0pp

American National Group Inc.'s net profit margin was 12.0% in Q2 2026, showing the share of revenue converted to profit. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.0 percentage points.

Return on Equity
2.4%
YoY+0.9pp
QoQ+2.4pp

American National Group Inc.'s ROE was 2.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures
$19.0M
YoY-5.0%
QoQ+72.7%

American National Group Inc. invested $19.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 5.0% from the same quarter a year earlier. Against the prior quarter it is up 72.7%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

ANG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ANG quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$1.7B+1.5%$1.6B-15.3%$1.9B+7.5%$2.1B+2.7%$1.7B-20.5%$1.9B+13.1%$1.7B$2.0B+58.5%
Interest Expense$42.0M-14.3%$49.0M+11.4%$43.0M-30.0%$47.0M-4.1%$49.0M+14.0%$44.0M+279.9%$61.4M$49.0M+308.2%
Income Tax$72.0M+166.7%$17.0M+127.4%-$104.0M-175.4%$119.0M+254.5%$27.0M+109.3%-$62.0M-313.8%$138.0M-$77.0M-955.6%
Net Income$204.0M+34.2%-$1.0M+99.5%$368.0M-43.3%$219.0M+176.0%$152.0M-40.4%-$206.0M-282.3%$649.0M-$288.0M-633.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

ANG Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ANG quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$131.7B+4.2%$130.4B+5.6%$130.3B+7.5%$130.6B+5.6%$126.3B+6.5%$123.4B+52.8%$121.2B+237.8%$123.7B+61.2%
Cash & Equivalents$8.4B-30.5%$8.9B+18.8%$11.7B+7.3%$11.6B-16.6%$12.1B-12.9%$7.5B-44.3%$10.9B+240.4%$13.9B+36.2%
Goodwill$748.0M-4.5%$748.0M-4.5%$748.0M0.0%$783.0M+3.8%$783.0M+3.8%$783.0M$748.0M+769.8%$754.0M
Total Liabilities$123.0B+6.0%$121.0B+6.7%$120.6B+8.4%$119.6B+5.2%$116.1B+6.2%$113.4B+46.1%$111.2B+270.8%$113.7B+52.3%
Long-Term Debt$3.0B+0.1%$3.0B-0.2%$3.0B-0.2%$3.4B+16.6%$3.0B+19.3%$3.0B$3.0B+98.1%$3.0B
Total Equity$8.7B-15.2%$9.4B-6.5%$9.7B-3.6%$11.0B+10.0%$10.2B+10.4%$10.0B+219.1%$10.0B+231.7%$10.0B+386.1%
Retained Earnings$2.0B+52.4%$1.8B+55.0%$1.8B+29.7%$1.5B+108.7%$1.3B+27.7%$1.1B-78.1%$1.4B+89.4%$709.0M-86.7%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.

ANG Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ANG quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$691.0M+29.2%$699.0M+4.2%$1.1B+174.2%$430.0M-40.9%$535.0M-52.0%$671.0M+156.1%$418.0M$727.0M+856.6%
Depreciation & AmortizationN/A$39.0M-25.0%$45.0M+60.7%$35.0M+40.0%$38.0M+123.5%$52.0M+766.7%$28.0M$25.0M
Capital Expenditures$19.0M-5.0%$11.0M+120.0%$19.0M-20.8%$17.0M-43.3%$20.0M-24.2%$5.0M+8.0%-$24.0M$30.0M-63.0%
Free Cash Flow$672.0M+30.5%$688.0M+3.3%$1.1B+186.0%$413.0M-40.7%$515.0M-52.7%$666.0M+158.8%$394.0M$697.0M+14040.0%
Investing Cash Flow-$1.9B-174.1%-$4.3B+24.9%-$3.3B+19.4%-$3.3B-201.5%$2.6B-71.7%-$5.7B-273.7%-$4.0B-$1.1B-2412.5%
Financing Cash Flow$726.0M-49.6%$889.0M-29.7%$2.2B+103.6%$2.4B+559.6%$1.4B+8.9%$1.3B+285.7%$1.1B$361.0M+48.6%
Dividends Paid$6.0M-45.5%$6.0M-68.4%$8.0M-27.3%$11.0M0.0%$11.0M0.0%$19.0M$11.0M$11.0M

Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.

ANG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ANG quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Net Margin12.0%+2.9pp-0.1%+10.8pp19.8%-17.7pp10.6%+25.0pp9.0%-3.0pp-10.9%-17.7pp37.5%-14.4%-18.6pp
Return on Equity2.4%+0.9pp0.0%+2.0pp3.8%-2.7pp2.0%+4.9pp1.5%-1.3pp-2.1%-5.6pp6.5%-2.9%-5.5pp
Return on Assets0.1%0.0pp0.0%+0.2pp0.3%-0.3pp0.2%+0.4pp0.1%-0.1pp-0.2%-0.3pp0.5%-0.2%-0.3pp
Debt-to-Equity0.34+0.1x0.310.0x0.310.0x0.310.0x0.290.0x0.29-24.4x0.29-0.2x0.30-36.0x
Asset Turnover0.010.0x0.010.0x0.010.0x0.020.0x0.010.0x0.020.0x0.010.020.0x
FCF Margin39.4%+8.7pp43.0%+7.7pp60.6%+37.8pp20.1%-14.7pp30.6%-20.8pp35.3%+19.9pp22.8%34.8%+35.2pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Frequently Asked Questions

What is American National Group Inc.'s annual revenue?

American National Group Inc. (ANG) reported $7.5B in total revenue for fiscal year 2025. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is American National Group Inc.'s revenue growing?

American National Group Inc. (ANG) revenue declined by 0.4% year-over-year, from $7.5B to $7.5B in fiscal year 2025.

Is American National Group Inc. profitable?

Yes, American National Group Inc. (ANG) reported a net income of $533.0M in fiscal year 2025, with a net profit margin of 7.1%.

As of fiscal year 2025, American National Group Inc. (ANG) had $11.7B in cash and equivalents against $3.0B in long-term debt.

American National Group Inc. (ANG) had a net profit margin of 7.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

American National Group Inc. (ANG) has a return on equity of 5.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

American National Group Inc. (ANG) generated $2.7B in free cash flow during fiscal year 2025. This represents a 9.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

American National Group Inc. (ANG) generated $2.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

American National Group Inc. (ANG) had $130.3B in total assets as of fiscal year 2025, including both current and long-term assets.

American National Group Inc. (ANG) invested $61.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

American National Group Inc. (ANG) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

American National Group Inc. (ANG) had a return on assets of 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

American National Group Inc. (ANG) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

American National Group Inc. (ANG) has an earnings quality ratio of 5.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

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