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. (FG) Financials

Trailing 12 months to June 30, 2026

Revenue $6.1B +15.0% YoY

Net Income $401.0M +16.9% YoY

EPS (Diluted) $2.95 +19.0% YoY

Operating Cash Flow $4.3B -27.6% YoY

Market Cap $2.6B as of Oct 8, 2026

Price / Sales 0.4x on $6.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 6.4x on $401.0M net income, trailing 12 months to June 30, 2026

Price / Book 0.6x on $4.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FG SEC filings page.

F&G Annuities & Life, Inc. (FG) reported $6.1B in revenue over the twelve months to Jun 30, 2026, up 15.0% from the prior twelve months. 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 2026-10-03

F&G operates with an insurer-like balance sheet: assets and liabilities expanded rapidly, while 2025 earnings weakened despite substantial operating cash flow.

In FY2025, operating cash flow of $4.7B was nearly 19 times net income of $248M, so reported cash generation reflected balance-sheet flows far more than accounting profit. Investing used $8.4B while financing supplied $3.0B, pointing to capital being redeployed into investments and supplemented by funding rather than simply retained.

Revenue was essentially flat from FY2024 to FY2025, yet net margin compressed from 11.2% to 4.3%; this is earnings pressure without a comparable volume decline. Interest expense also rose from $132M to $164M, adding a clear financing cost to the weaker result.

From FY2023 to FY2025, total assets expanded from $70.2B to $98.4B, indicating continued balance-sheet scaling. Liabilities increased from $67.1B to $93.5B, while FY2025 equity was only $4.8B; the scale-up therefore depended mainly on obligations rather than retained capital.

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

Export CSV

Earnings & Revenue

Revenue

$1.4B

YoY+4.2%

QoQ+19.7%

F&G Annuities & Life, Inc. generated $1.4B in revenue in Q2 2026. This represents an increase of 4.2% from the same quarter a year earlier. Against the prior quarter it is up 19.7%.

Net Income

-$76.0M

YoY-290.0%

QoQ-130.6%

F&G Annuities & Life, Inc. reported -$76.0M in net income in Q2 2026. This represents a decrease of 290.0% from the same quarter a year earlier. Against the prior quarter it is down 130.6%.

EPS (Diluted)

-$0.62

YoY-338.5%

QoQ-134.8%

F&G Annuities & Life, Inc. earned -$0.62 per diluted share (EPS) in Q2 2026. This represents a decrease of 338.5% from the same quarter a year earlier. Against the prior quarter it is down 134.8%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$2.1B

YoY+11.6%

QoQ+58.8%

F&G Annuities & Life, Inc. held $2.1B in cash against $2.2B in long-term debt as of Q2 2026.

Dividends Per Share

$0.25

YoY+13.6%

QoQ0.0%

F&G Annuities & Life, Inc. paid $0.25 per share in dividends in Q2 2026. This represents an increase of 13.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

131M

YoY-2.8%

QoQ-1.2%

F&G Annuities & Life, Inc. had 131M shares outstanding in Q2 2026. This represents a decrease of 2.8% from the same quarter a year earlier. Against the prior quarter it is down 1.2%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

-5.3%

YoY-8.3pp

QoQ-26.2pp

F&G Annuities & Life, Inc.'s net profit margin was -5.3% in Q2 2026, showing the share of revenue converted to profit. This is down 8.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 26.2 percentage points.

Return on Equity

-1.7%

YoY-2.6pp

QoQ-7.0pp

F&G Annuities & Life, Inc.'s ROE was -1.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.0 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$94.0M

QoQ+224.1%

F&G Annuities & Life, Inc. spent $94.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 224.1%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

FG 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.

FG quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K
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 (Basic)	N/A	$1.89-62.0%	$4.98+1159.6%	-$0.47-108.5%	$5.52-53.3%	$11.81
EPS (Diluted)	$2.95	$1.88-61.5%	$4.88+1138.3%	-$0.47-108.5%	$5.52-53.3%	$11.81
Diluted Shares (Avg)	N/A	132M+0.8%	131M+5.6%	124M+7.8%	115M+9.5%	105M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.4B+4.2%	$1.2B+30.7%	$1.8B+13.2%	$1.7B+17.3%	$1.4B+16.4%	$908.0M-42.1%	$1.6B-3.3%	$1.4B+69.7%
SG&A Expenses	$77.0M0.0%	$60.0M-10.4%	$70.0M-13.6%	$79.0M-1.3%	$77.0M+11.6%	$67.0M+1.5%	$81.0M+24.6%	$80.0M+37.9%
Interest Expense	$41.0M0.0%	$41.0M+2.5%	$41.0M+7.9%	$42.0M+16.7%	$41.0M+46.4%	$40.0M+33.3%	$38.0M+46.2%	$36.0M+50.0%
Income Tax	-$19.0M-226.7%	$74.0M+1580.0%	$31.0M-63.5%	$11.0M+144.0%	$15.0M-70.0%	-$5.0M-119.2%	$85.0M+211.8%	-$25.0M-133.8%
Net Income	-$76.0M-290.0%	$248.0M+1281.0%	$111.0M-66.4%	$118.0M+2066.7%	$40.0M-80.3%	-$21.0M-118.3%	$330.0M+210.4%	-$6.0M-102.0%
EPS (Basic)	-$0.62-338.5%	$1.83+1015.0%	$0.94-63.4%	$0.86+1175.0%	$0.26-83.8%	-$0.20-122.2%	$2.57+206.6%	-$0.08-103.2%
EPS (Diluted)	-$0.62-338.5%	$1.78+990.0%	$0.94-62.4%	$0.85	$0.26-83.2%	-$0.20-122.7%	$2.50+204.2%	-$0.08
Diluted Shares (Avg)	130M-3.0%	139M+10.3%	N/A	139M	134M+2.3%	126M-3.1%	N/A	124M

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

FG Balance Sheet

FG quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K
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
Short-Term Investments	$1.0B-56.7%	$2.4B+66.0%	$1.5B-6.7%	$1.6B+317.2%	$373.0M
Long-Term Investments	$1.3B+123.1%	$580.0M+8.0%	$537.0M0.0%	$537.0M+9.8%	$489.0M
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	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$103.6B+12.8%	$101.0B+14.8%	$98.4B+15.9%	$96.1B+14.3%	$91.8B+16.9%	$88.0B+18.2%	$84.9B+21.0%	$84.1B+32.2%
Cash & Equivalents	$2.1B+11.6%	$1.3B-59.8%	$1.5B-34.4%	$2.2B-38.1%	$1.9B-46.6%	$3.3B+38.8%	$2.3B+44.8%	$3.5B+103.2%
Short-Term Investments	$545.0M-28.3%	$992.0M+80.7%	$1.0B-56.7%	$910.0M+33.6%	$760.0M+80.5%	$549.0M+108.7%	$2.4B+66.0%	$681.0M+305.4%
Long-Term Investments	$1.3B+31.8%	$1.3B+119.4%	$1.3B+123.1%	$1.0B+51.4%	$998.0M+51.2%	$587.0M-7.4%	$580.0M+8.0%	$675.0M+13.6%
Goodwill	$2.1B-2.5%	$2.1B-2.5%	$2.2B0.0%	$2.2B0.0%	$2.2B+8.0%	$2.2B+8.0%	$2.2B+24.6%	$2.2B+24.6%
Total Liabilities	$98.9B+13.3%	$96.3B+15.3%	$93.5B+15.7%	$91.2B+14.5%	$87.3B+16.8%	$83.5B+18.1%	$80.9B+20.5%	$79.6B+30.0%
Long-Term Debt	$2.2B+0.2%	$2.2B+0.2%	$2.2B+3.0%	$2.2B+9.7%	$2.2B+9.7%	$2.2B+27.8%	$2.2B+23.8%	$2.0B+29.9%
Total Equity	$4.6B+3.9%	$4.6B+6.3%	$4.8B+21.6%	$4.8B+11.0%	$4.4B+21.5%	$4.4B+23.0%	$4.0B+27.3%	$4.3B+83.2%
Retained Earnings	$2.7B+11.3%	$2.8B+16.3%	$2.6B+5.2%	$2.5B+15.5%	$2.4B+9.7%	$2.4B+18.8%	$2.4B+26.7%	$2.1B-4.8%

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

FG Cash Flow Statement

FG quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K
Operating Cash Flow	$4.3B	$4.7B-22.0%	$6.0B+2.8%	$5.8B+84.0%	$3.2B+69.5%	$1.9B
Depreciation & Amortization	N/A	$665.0M+16.9%	$569.0M+38.1%	$412.0M+27.2%	$324.0M+19.6%	$271.0M
Stock-Based Compensation	N/A	$31.0M+6.9%	$29.0M+26.1%	$23.0M+91.7%	$12.0M+33.3%	$9.0M
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	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.5B-8.2%	$743.0M-22.3%	$1.2B-11.5%	$937.0M-55.2%	$1.6B+53.6%	$956.0M-37.7%	$1.3B-40.6%	$2.1B+162.9%
Depreciation & Amortization	$175.0M+10.8%	$173.0M+13.1%	$174.0M+14.5%	$180.0M+22.4%	$158.0M+7.5%	$153.0M+24.4%	$152.0M+38.2%	$147.0M+36.1%
Stock-Based Compensation	N/A	$9.0M+12.5%	N/A	N/A	N/A	$8.0M+14.3%	N/A	N/A
Investing Cash Flow	$108.0M+103.1%	-$939.0M-16.1%	-$2.3B+18.6%	-$1.9B+2.5%	-$3.5B-87.8%	-$809.0M+41.5%	-$2.8B+14.0%	-$1.9B-36.1%
Financing Cash Flow	-$816.0M-287.6%	$34.0M-96.1%	$416.0M+95.3%	$1.2B+868.3%	$435.0M-77.6%	$882.0M+33.8%	$213.0M-75.3%	-$161.0M-124.1%
Share Buybacks	$94.0M	$29.0M+866.7%	$7.0M+16.7%	$0	$0	$3.0M-50.0%	$6.0M	$0-100.0%

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

FG 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.

FG quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K
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
Asset Turnover	0.060.0x	0.070.0x	0.060.0x	0.040.0x	0.08

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	-5.3%-8.3pp	20.9%+23.2pp	6.3%-14.9pp	7.0%+7.4pp	2.9%-14.4pp	-2.3%-9.6pp	21.2%+39.7pp	-0.4%-36.4pp
Return on Equity	-1.7%-2.6pp	5.3%+5.8pp	2.3%-6.0pp	2.5%+2.6pp	0.9%-4.7pp	-0.5%-3.7pp	8.3%+18.0pp	-0.1%-13.0pp
Return on Assets	-0.1%-0.1pp	0.3%+0.3pp	0.1%-0.3pp	0.1%+0.1pp	0.0%-0.2pp	0.0%-0.2pp	0.4%+0.8pp	0.0%-0.5pp
Debt-to-Equity	0.490.0x	0.480.0x	0.47-0.1x	0.460.0x	0.50-0.1x	0.510.0x	0.550.0x	0.47-0.2x
Asset Turnover	0.010.0x	0.010.0x	0.020.0x	0.020.0x	0.010.0x	0.010.0x	0.020.0x	0.020.0x

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

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
F&G Annuities & Life, Inc. FG	FY2025	$5.7B	$248.0M	4.3%	$2.6B	—
Jackson Financial Inc. JXN	FY2025	$6.7B	-$17.0M	-0.3%	$8.8B	8/100
Genworth Financial, Inc. GNW	FY2025	$7.3B	$223.0M	3.0%	$3.6B	16/100
CNO Financial Group, Inc. CNO	FY2025	$4.5B	$229.3M	5.1%	$4.9B	27/100
Brighthouse Financial, Inc. BHF	FY2025	$6.8B	$331.0M	4.9%	$2.9B	5/100
Lincoln National Corp. LNC	FY2025	$18.2B	$1.2B	6.5%	$7.8B	19/100

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 P/E ratio?

F&G Annuities & Life, Inc. (FG) trades at 6.4x earnings, its market capitalization divided by net income of $401.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.6B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is F&G Annuities & Life, Inc.'s price-to-sales ratio?

F&G Annuities & Life, Inc. (FG) trades at 0.4x sales, its market capitalization divided by revenue of $6.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.6B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

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.