What is F&G Annuities & Life Inc's earnings per share (EPS)?

F&G Annuities & Life Inc (FG) reported diluted earnings per share of $1.88 for fiscal year 2025. This represents a -61.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

F&G Annuities & Life Inc Financials

FY2025 annual

Revenue $5.7B -0.2% YoY

Net Income $248.0M -61.4% YoY

EPS (Diluted) $1.88 -61.5% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

F&G Annuities & Life Inc (FG) reported $5.7B in revenue for fiscal year 2025, down 0.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 FG FY2025 2026-05-07

A large balance sheet with stable operating cash generation drives the business, while reported earnings swing far more than cash.

From FY2023 through FY2025, operating cash flow stayed above $4.6B even as net income moved from a loss to a much smaller profit, so reported earnings appear more volatile than the underlying cash engine. That matters because assets reached $98.4B while return on assets was only 0.25% in FY2025, meaning a very large balance sheet is producing only a thin earnings spread.

Between FY2023 and FY2025, total assets climbed by about $28B and total liabilities by about $26B, so scale expanded faster than shareholder capital rather than through a large equity build. Even so, reported debt-to-equity eased from 0.6x to 0.5x, which suggests the heavier balance sheet is not chiefly a story of corporate borrowing.

FY2025 revenue was essentially flat, but interest expense rose to $164M from $132M in FY2024, which helps explain why profit compressed without a similar collapse in cash flow. At the same time, selling and administrative expense stayed near $293M, so the pressure looks more tied to balance-sheet economics than to a sudden jump in operating overhead.

Financial Health Signals

Financial health score not available

F&G Annuities & Life 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

4/7

F&G Annuities & Life Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

18.88x

For every $1 of reported earnings, F&G Annuities & Life Inc generates $18.88 in operating cash flow ($4.7B OCF vs $248.0M 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

$5.7B

YoY-0.2%

F&G Annuities & Life Inc generated $5.7B in revenue in fiscal year 2025. This represents a decrease of 0.2% from the prior year.

Net Income

$248.0M

YoY-61.4%

F&G Annuities & Life Inc reported $248.0M in net income in fiscal year 2025. This represents a decrease of 61.4% from the prior year.

EPS (Diluted)

$1.88

YoY-61.5%

F&G Annuities & Life Inc earned $1.88 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 61.5% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$1.5B

YoY-34.4%

F&G Annuities & Life Inc held $1.5B in cash against $2.2B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.91

YoY+7.1%

F&G Annuities & Life Inc paid $0.91 per share in dividends in fiscal year 2025. This represents an increase of 7.1% from the prior year.

Shares Outstanding

136M

YoY+7.0%

F&G Annuities & Life Inc had 136M shares outstanding in fiscal year 2025. This represents an increase of 7.0% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

4.3%

YoY-6.9pp

F&G Annuities & Life Inc's net profit margin was 4.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.9 percentage points from the prior year.

Return on Equity

5.2%

YoY-11.1pp

F&G Annuities & Life Inc's ROE was 5.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.1 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$10.0M

YoY-16.7%

F&G Annuities & Life Inc spent $10.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 16.7% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

FG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FG annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21
Revenue	$6.1B	$5.7B-0.2%	$5.7B+27.6%	$4.5B+91.6%	$2.3B-40.9%	$4.0B
SG&A Expenses	$286.0M	$293.0M-1.0%	$296.0M+27.6%	$232.0M+47.8%	$157.0M+21.7%	$129.0M
Interest Expense	$165.0M	$164.0M+24.2%	$132.0M+36.1%	$97.0M+234.5%	$29.0M0.0%	$29.0M
Income Tax	$97.0M	$52.0M-61.8%	$136.0M+491.3%	$23.0M-85.4%	$158.0M-50.6%	$320.0M
Net Income	$401.0M	$248.0M-61.4%	$642.0M+1206.9%	-$58.0M-109.1%	$635.0M-48.8%	$1.2B
EPS (Diluted)	—	$1.88-61.5%	$4.88+1138.3%	-$0.47-108.5%	$5.52-53.3%	$11.81

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$1.4B+19.7%	$1.2B-32.7%	$1.8B+4.2%	$1.7B+24.2%	$1.4B+50.2%	$908.0M-41.8%	$1.6B+8.0%	$1.4B
SG&A Expenses	$77.0M+28.3%	$60.0M-14.3%	$70.0M-11.4%	$79.0M+2.6%	$77.0M+14.9%	$67.0M-17.3%	$81.0M+1.3%	$80.0M
Interest Expense	$41.0M0.0%	$41.0M0.0%	$41.0M-2.4%	$42.0M+2.4%	$41.0M+2.5%	$40.0M+5.3%	$38.0M+5.6%	$36.0M
Income Tax	-$19.0M-125.7%	$74.0M+138.7%	$31.0M+181.8%	$11.0M-26.7%	$15.0M+400.0%	-$5.0M-105.9%	$85.0M+440.0%	-$25.0M
Net Income	-$76.0M-130.6%	$248.0M+123.4%	$111.0M-5.9%	$118.0M+195.0%	$40.0M+290.5%	-$21.0M-106.4%	$330.0M+5600.0%	-$6.0M
EPS (Diluted)	-$0.62-134.8%	$1.78	N/A	$0.85+226.9%	$0.26+230.0%	-$0.20	N/A	-$0.08

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

FG Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FG annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$98.4B+15.9%	$84.9B+21.0%	$70.2B+28.5%	$54.6B+12.1%	$48.7B
Cash & Equivalents	$1.5B-34.4%	$2.3B+44.8%	$1.6B+62.8%	$960.0M-37.4%	$1.5B
Goodwill	$2.2B0.0%	$2.2B+24.6%	$1.7B0.0%	$1.7B-0.4%	$1.8B
Total Liabilities	$93.5B+15.7%	$80.9B+20.5%	$67.1B+28.5%	$52.2B+18.0%	$44.2B
Long-Term Debt	$2.2B+3.0%	$2.2B+23.8%	$1.8B+57.5%	$1.1B+14.0%	$977.0M
Total Equity	$4.8B+21.6%	$4.0B+27.3%	$3.1B+29.0%	$2.4B-52.2%	$5.0B
Retained Earnings	$2.6B+5.2%	$2.4B+26.7%	$1.9B-6.6%	$2.1B+105.9%	$1.0B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$103.6B+2.5%	$101.0B+2.6%	$98.4B+2.4%	$96.1B+4.7%	$91.8B+4.3%	$88.0B+3.6%	$84.9B+1.0%	$84.1B
Cash & Equivalents	$2.1B+58.8%	$1.3B-10.9%	$1.5B-32.1%	$2.2B+16.2%	$1.9B-42.8%	$3.3B+45.5%	$2.3B-36.0%	$3.5B
Goodwill	$2.1B0.0%	$2.1B-2.6%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B
Total Liabilities	$98.9B+2.7%	$96.3B+3.0%	$93.5B+2.5%	$91.2B+4.5%	$87.3B+4.5%	$83.5B+3.3%	$80.9B+1.5%	$79.6B
Long-Term Debt	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B+2.9%	$2.2B+6.5%	$2.0B
Total Equity	$4.6B-0.6%	$4.6B-3.4%	$4.8B-0.4%	$4.8B+8.7%	$4.4B+1.7%	$4.4B+10.4%	$4.0B-9.1%	$4.3B
Retained Earnings	$2.7B-4.1%	$2.8B+8.2%	$2.6B+3.6%	$2.5B+3.5%	$2.4B+0.2%	$2.4B-2.1%	$2.4B+13.8%	$2.1B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.

FG Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FG annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$4.3B	$4.7B-22.0%	$6.0B+2.8%	$5.8B+84.0%	$3.2B+69.5%	$1.9B
Investing Cash Flow	-$5.0B	-$8.4B-6.0%	-$8.0B+10.8%	-$8.9B+4.8%	-$9.4B-36.5%	-$6.9B
Financing Cash Flow	$871.0M	$3.0B+11.9%	$2.7B-28.0%	$3.7B-34.5%	$5.6B-0.2%	$5.6B
Dividends Paid	N/A	N/A	N/A	$101.0M	$0	$0
Share Buybacks	$130.0M	$10.0M-16.7%	$12.0M-33.3%	$18.0M	$0	$0

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$1.5B+100.1%	$743.0M-36.4%	$1.2B+24.7%	$937.0M-42.2%	$1.6B+69.5%	$956.0M-27.6%	$1.3B-36.8%	$2.1B
Investing Cash Flow	$108.0M+111.5%	-$939.0M+58.9%	-$2.3B-22.4%	-$1.9B+46.0%	-$3.5B-328.2%	-$809.0M+71.2%	-$2.8B-46.6%	-$1.9B
Financing Cash Flow	-$816.0M-2500.0%	$34.0M-91.8%	$416.0M-66.4%	$1.2B+184.4%	$435.0M-50.7%	$882.0M+314.1%	$213.0M+232.3%	-$161.0M
Share Buybacks	$94.0M+224.1%	$29.0M+314.3%	$7.0M	$0	$0-100.0%	$3.0M-50.0%	$6.0M	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

FG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

FG annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21
Net Margin	4.3%-6.9pp	11.2%+12.5pp	-1.3%-28.3pp	27.0%-4.2pp	31.2%
Return on Equity	5.2%-11.1pp	16.3%+18.1pp	-1.9%-28.3pp	26.4%+1.8pp	24.6%
Return on Assets	0.3%-0.5pp	0.8%+0.8pp	-0.1%-1.2pp	1.2%-1.4pp	2.5%
Debt-to-Equity	0.47-0.1x	0.550.0x	0.57+0.1x	0.46+0.3x	0.19

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	-5.3%-26.2pp	20.9%+14.6pp	6.3%-0.7pp	7.0%+4.0pp	2.9%+5.2pp	-2.3%-23.5pp	21.2%+21.6pp	-0.4%
Return on Equity	-1.7%-7.0pp	5.3%+3.0pp	2.3%-0.1pp	2.5%+1.6pp	0.9%+1.4pp	-0.5%-8.8pp	8.3%+8.5pp	-0.1%
Return on Assets	-0.1%-0.3pp	0.3%+0.1pp	0.1%0.0pp	0.1%+0.1pp	0.0%+0.1pp	0.0%-0.4pp	0.4%+0.4pp	0.0%
Debt-to-Equity	0.490.0x	0.480.0x	0.470.0x	0.460.0x	0.500.0x	0.510.0x	0.55+0.1x	0.47

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

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Where F&G Annuities & Life Inc Ranks

Frequently Asked Questions

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

F&G Annuities & Life Inc (FG) reported $5.7B in total revenue for fiscal year 2025. This represents a -0.2% 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 F&G Annuities & Life Inc's revenue growing?

F&G Annuities & Life Inc (FG) revenue declined by 0.2% year-over-year, from $5.7B to $5.7B in fiscal year 2025.

Is F&G Annuities & Life Inc profitable?

Yes, F&G Annuities & Life Inc (FG) reported a net income of $248.0M in fiscal year 2025, with a net profit margin of 4.3%.

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

As of fiscal year 2025, F&G Annuities & Life Inc (FG) had $1.5B in cash and equivalents against $2.2B in long-term debt.

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

F&G Annuities & Life Inc (FG) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does F&G Annuities & Life Inc pay dividends?

Yes, F&G Annuities & Life Inc (FG) paid $0.91 per share in dividends during fiscal year 2025.

What is F&G Annuities & Life Inc's return on equity (ROE)?

F&G Annuities & Life Inc (FG) has a return on equity of 5.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is F&G Annuities & Life Inc's operating cash flow?

F&G Annuities & Life Inc (FG) generated $4.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are F&G Annuities & Life Inc's total assets?

F&G Annuities & Life Inc (FG) had $98.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does F&G Annuities & Life Inc buy back shares?

Yes, F&G Annuities & Life Inc (FG) spent $10.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does F&G Annuities & Life Inc have outstanding?

F&G Annuities & Life Inc (FG) had 136M shares outstanding as of fiscal year 2025.

What is F&G Annuities & Life Inc's debt-to-equity ratio?

F&G Annuities & Life Inc (FG) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is F&G Annuities & Life Inc's return on assets (ROA)?

F&G Annuities & Life Inc (FG) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is F&G Annuities & Life Inc's Piotroski F-Score?

F&G Annuities & Life Inc (FG) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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.

Are F&G Annuities & Life Inc's earnings high quality?

F&G Annuities & Life Inc (FG) has an earnings quality ratio of 18.88x, 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.