F&G Annuities And Life 7 950 Senior Notes due 2053 Financials

FGN

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) financial statements, including the 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 fgn FY2025 2026-04-22

FGN’s balance-sheet-funded model makes asset growth, not revenue growth, the main driver of cash generation and return swings.

Between FY2024 and FY2025, revenue held near $5.7B but net income fell from $639M to $265M as assets expanded to $98.4B. That pushed return on assets from 0.8% to 0.3%, a sign the company added balance-sheet volume faster than earnings.

The reported debt-to-equity of 0.5x looks modest, but total liabilities were $93.5B against just $4.8B of equity. That leaves a thin-equity, liability-funded structure, so small shifts in asset performance can change shareholder returns quickly because the equity cushion is small relative to the asset base.

FY2025 operating cash flow of $4.7B still far exceeded net income of $265M, so reported profit understates how much cash moves through the business. Even with $3.0B of financing inflow, heavy investing left year-end cash at $1.5B, showing expansion is consuming both internal and external funding.

Financial Health Signals

Financial Profile 29/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of F&G Annuities And Life 7 950 Senior Notes due 2053's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

F&G Annuities And Life 7 950 Senior Notes due 2053's revenue declined 0.2% year-over-year, from $5.7B to $5.7B. This contraction results in a growth score of 55/100.

Leverage

F&G Annuities And Life 7 950 Senior Notes due 2053 carries a low D/E ratio of 0.47, meaning only $0.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Returns

F&G Annuities And Life 7 950 Senior Notes due 2053 generates a 5.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is down from 16.2% the prior year.

Piotroski F-Score Neutral

4/9

F&G Annuities And Life 7 950 Senior Notes due 2053 passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

17.66x

For every $1 of reported earnings, F&G Annuities And Life 7 950 Senior Notes due 2053 generates $17.66 in operating cash flow ($4.7B OCF vs $265.0M 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 And Life 7 950 Senior Notes due 2053 generated $5.7B in revenue in fiscal year 2025. This represents a decrease of 0.2% from the prior year.

EBITDA

N/A

Net Income

$265.0M

YoY-58.5%

F&G Annuities And Life 7 950 Senior Notes due 2053 reported $265.0M in net income in fiscal year 2025. This represents a decrease of 58.5% from the prior year.

EPS (Diluted)

$1.88

YoY-61.5%

F&G Annuities And Life 7 950 Senior Notes due 2053 earned $1.88 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 61.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.5B

YoY-34.4%

F&G Annuities And Life 7 950 Senior Notes due 2053 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 And Life 7 950 Senior Notes due 2053 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 And Life 7 950 Senior Notes due 2053 had 136M shares outstanding in fiscal year 2025. This represents an increase of 7.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.6%

YoY-6.5pp

F&G Annuities And Life 7 950 Senior Notes due 2053's net profit margin was 4.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.5 percentage points from the prior year.

Return on Equity

5.5%

YoY-10.7pp

F&G Annuities And Life 7 950 Senior Notes due 2053's ROE was 5.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$10.0M

YoY-16.7%

F&G Annuities And Life 7 950 Senior Notes due 2053 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.

Capital Expenditures

N/A

FGN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$5.7B-0.2%	$5.7B+27.6%	$4.5B+91.6%	$2.3B-40.9%	$4.0B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$293.0M-1.0%	$296.0M+27.6%	$232.0M+47.8%	$157.0M+21.7%	$129.0M
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	$164.0M+24.2%	$132.0M+36.1%	$97.0M+234.5%	$29.0M0.0%	$29.0M
Income Tax	$52.0M-61.8%	$136.0M+491.3%	$23.0M-85.4%	$158.0M-50.6%	$320.0M
Net Income	$265.0M-58.5%	$639.0M+1201.7%	-$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	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$1.8B+4.2%	$1.7B+24.2%	$1.4B+50.2%	$908.0M-41.8%	$1.6B+8.0%	$1.4B+23.2%	$1.2B-25.3%	$1.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$70.0M-11.4%	$79.0M+2.6%	$77.0M+14.9%	$67.0M-17.3%	$81.0M+1.3%	$80.0M+15.9%	$69.0M+4.5%	$66.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$41.0M-2.4%	$42.0M+2.4%	$41.0M+2.5%	$40.0M+5.3%	$38.0M+5.6%	$36.0M+28.6%	$28.0M-6.7%	$30.0M
Income Tax	$31.0M+181.8%	$11.0M-26.7%	$15.0M+400.0%	-$5.0M-105.9%	$85.0M+440.0%	-$25.0M-150.0%	$50.0M+92.3%	$26.0M
Net Income	$128.0M+8.5%	$118.0M+195.0%	$40.0M+290.5%	-$21.0M-106.4%	$327.0M+5550.0%	-$6.0M-103.0%	$203.0M+76.5%	$115.0M
EPS (Diluted)	N/A	$0.85+226.9%	$0.26+230.0%	$-0.20	N/A	$-0.08-105.2%	$1.55+76.1%	$0.88

FGN 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
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.5B-34.4%	$2.3B+44.8%	$1.6B+62.8%	$960.0M-37.4%	$1.5B
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
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
Current Liabilities	N/A	N/A	N/A	N/A	N/A
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	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$98.4B+2.4%	$96.1B+4.7%	$91.8B+4.3%	$88.0B+3.6%	$84.9B+1.0%	$84.1B+7.1%	$78.5B+5.5%	$74.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.5B-32.1%	$2.2B+16.2%	$1.9B-42.8%	$3.3B+45.5%	$2.3B-36.0%	$3.5B+0.4%	$3.5B+48.7%	$2.4B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B+8.0%	$2.0B0.0%	$2.0B
Total Liabilities	$93.5B+2.5%	$91.2B+4.5%	$87.3B+4.5%	$83.5B+3.3%	$80.9B+1.5%	$79.6B+6.6%	$74.7B+5.6%	$70.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.2B0.0%	$2.2B0.0%	$2.2B0.0%	$2.2B+2.9%	$2.2B+6.5%	$2.0B0.0%	$2.0B+16.6%	$1.7B
Total Equity	$4.8B-0.4%	$4.8B+8.7%	$4.4B+1.7%	$4.4B+10.4%	$4.0B-9.1%	$4.3B+18.9%	$3.7B+3.0%	$3.5B
Retained Earnings	$2.6B+3.6%	$2.5B+3.5%	$2.4B+0.2%	$2.4B-2.1%	$2.4B+13.8%	$2.1B-1.7%	$2.2B+8.5%	$2.0B

FGN Cash Flow Statement

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

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$1.2B+24.7%	$937.0M-42.2%	$1.6B+69.5%	$956.0M-27.6%	$1.3B-36.8%	$2.1B+98.1%	$1.1B-31.2%	$1.5B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.3B-22.4%	-$1.9B+46.0%	-$3.5B-328.2%	-$809.0M+71.2%	-$2.8B-46.6%	-$1.9B-3.8%	-$1.8B-33.3%	-$1.4B
Financing Cash Flow	$416.0M-66.4%	$1.2B+184.4%	$435.0M-50.7%	$882.0M+314.1%	$213.0M+232.3%	-$161.0M-108.3%	$1.9B+195.0%	$659.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$26.0M
Share Buybacks	$7.0M	$0	$0-100.0%	$3.0M-50.0%	$6.0M	$0	$0-100.0%	$6.0M

FGN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	4.6%-6.5pp	11.1%+12.4pp	-1.3%-28.3pp	27.0%-4.2pp	31.2%
Return on Equity	5.5%-10.7pp	16.2%+18.0pp	-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%
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.47-0.1	0.55-0.0	0.57+0.1	0.46+0.3	0.19
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	7.2%+0.3pp	7.0%+4.0pp	2.9%+5.2pp	-2.3%-23.3pp	21.0%+21.4pp	-0.4%-17.7pp	17.3%+10.0pp	7.3%
Return on Equity	2.7%+0.2pp	2.5%+1.6pp	0.9%+1.4pp	-0.5%-8.8pp	8.3%+8.4pp	-0.1%-5.7pp	5.6%+2.3pp	3.2%
Return on Assets	0.1%+0.0pp	0.1%+0.1pp	0.0%+0.1pp	-0.0%-0.4pp	0.4%+0.4pp	-0.0%-0.3pp	0.3%+0.1pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.470.0	0.46-0.0	0.500.0	0.51-0.0	0.55+0.1	0.47-0.1	0.56+0.1	0.49
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is F&G Annuities And Life 7 950 Senior Notes due 2053's annual revenue?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) 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 And Life 7 950 Senior Notes due 2053's revenue growing?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) revenue declined by 0.2% year-over-year, from $5.7B to $5.7B in fiscal year 2025.

Is F&G Annuities And Life 7 950 Senior Notes due 2053 profitable?

Yes, F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) reported a net income of $265.0M in fiscal year 2025, with a net profit margin of 4.6%.

How much debt does F&G Annuities And Life 7 950 Senior Notes due 2053 have?

As of fiscal year 2025, F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) had $1.5B in cash and equivalents against $2.2B in long-term debt.

What is F&G Annuities And Life 7 950 Senior Notes due 2053's net profit margin?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) had a net profit margin of 4.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does F&G Annuities And Life 7 950 Senior Notes due 2053 pay dividends?

Yes, F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) paid $0.91 per share in dividends during fiscal year 2025.

What is F&G Annuities And Life 7 950 Senior Notes due 2053's return on equity (ROE)?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) has a return on equity of 5.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is F&G Annuities And Life 7 950 Senior Notes due 2053's operating cash flow?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) generated $4.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are F&G Annuities And Life 7 950 Senior Notes due 2053's total assets?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) had $98.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does F&G Annuities And Life 7 950 Senior Notes due 2053 buy back shares?

Yes, F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) 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 And Life 7 950 Senior Notes due 2053 have outstanding?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) had 136M shares outstanding as of fiscal year 2025.

What is F&G Annuities And Life 7 950 Senior Notes due 2053's debt-to-equity ratio?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) 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 And Life 7 950 Senior Notes due 2053's return on assets (ROA)?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) 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 And Life 7 950 Senior Notes due 2053's Piotroski F-Score?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 And Life 7 950 Senior Notes due 2053's earnings high quality?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) has an earnings quality ratio of 17.66x, 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.

How financially healthy is F&G Annuities And Life 7 950 Senior Notes due 2053?

F&G Annuities And Life 7 950 Senior Notes due 2053 (fgn) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.