Pricing Log in Create free account
Friday 6 November 2026 Export CRBG’s income statement to Excel — free account

Corebridge Financial, Inc.

CRBG Financial Asset Management

Corebridge Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.5 billion, down 1.21% from fiscal 2024.

Revenue
+13.8%
EPS
+1,100.2%
Free cash flow
+2,420.8%
Total debt
+5.11%

Quarter to September 2026, against a year earlier

34.19 2.05 −5.66%
Market cap
$15.0B
P/E
7.3×
Fwd P/E
16.6×
Dividend yield
2.90%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2024

  • Individual Retirement
  • Institutional Markets
  • Life Insurance
  • Group Retirement
  • Other, not broken out
  • Corporate & Other

Every year since 2020 →

Insider Decisions last twelve months

Bought, $m 369.75
Sold, $m 1,242.45
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 15 21 2
Sell — — 2 — — — — 2 3 — — —
Insider Ownership 10.99%

Capital & Financial Ratios $m

Size
Market Cap 15,010.00
Revenue ttm 20,809.00
Net income ttm 2,183.00
Free cash flow ttm 2,433.00
Net debt Q 11,126.00
Valuation
P/E 7.30
Forward P/E 16.60
Price / sales 0.73
Forward P/S Powerpack
Price / FCF 6.26
Price / book 2.20
Financial health
Current ratio Q 0.09
Debt / equity Q 1.56
Interest coverage Q 18.34
Growth
Revenue growth Q +13.81% (above 0%: growing)
Operating income growth Q +2,543.01% (above 0%: growing)
EPS, this year +3.10%
EPS, next year A +25.13% (at or above 15%: strong)
Revenue, next year A +3.53%
EPS, past 5 yrs —
EPS, next 5 yrs A +14.02%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 40.24%
10-year low 10-year high
P/S against its own 10 years 41.30%
10-year low 10-year high
P/B against its own 10 years 98.08%
10-year low 10-year high

Dividends raised every year since 2022

Yield
2.90%
Annual rate
0.99
Payout ratio
21.2%
Growth, 2022–25
+27.8%/yr
  1. 0.46 ’22
  2. 0.69 ’23 +50
  3. 0.92 ’24 +33
  4. 0.96 ’25 +4
  5. 1.01 ’26e +5
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 612 806 447 453
Receivables 28,986 27,206 26,699 24,505
Inventory — — — —
Other — — — —
29,598 28,012 27,146 24,958
2023 2024 2025 Q'26
Payables 83,065 80,563 84,619 77,547
ST’ Debt 9,368 10,454 9,359 —
Other 164,912 176,568 191,835 197,358
257,345 267,585 285,813 274,905

Compound Annual Growth %

10y 5y 3y
Sales — 4.18% (9.21%)
Cash Flow — (9.49%) (8.30%)
Earnings — 0.00% 0.00%
Book Value — (18.90%) 10.60%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.22 Actual 1.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.11 1.22 Beat by 0.11
Q1 FY26 1.07 1.05 Miss by 0.02
Q2 FY26 1.08 1.12 Beat by 0.04
Q3 FY26 1.22 1.22 Met by 0.00
Q4 FY26 1.15 — Reports 8 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.11) (0.04) 3.23 — —
’25 (1.19) (1.20) 0.27 1.59 (0.68)
’24 1.41 0.59 (2.02) 3.80 3.72
’23 (0.70) 1.18 3.28 (2.07) 1.71
’22 5.33 4.15 3.63 (0.30) 12.59
’21 — — 2.44 — 13.18
’20 — — — — 1.00
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,964 3,914 6,164 — —
’25 3,572 2,726 5,416 6,767 18,481
’24 5,836 3,710 2,599 6,562 18,707
’23 4,262 5,757 5,505 3,276 18,800
’22 7,240 6,790 6,538 4,129 24,697
’21 — — 5,521 — 23,257
’20 — — — — 15,062
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (9) (44) 605 — —
’25 375 (259) 24 1,881 2,021
’24 598 (9) 83 1,479 2,151
’23 301 1,271 1,018 767 3,357
’22 (3) 538 1,615 471 2,621
’21 — — 2,032 429 2,405
’20 — — — 3,327 3,327
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (9) (44) 605 — —
’25 375 (259) 24 1,881 2,021
’24 598 (9) 83 1,479 2,151
’23 301 1,271 1,018 767 3,357
’22 (3) 538 1,615 471 2,621
’21 — — 2,032 429 2,405
’20 — — — 3,327 3,327
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 13.4% a year for ten years.

Implied
13.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — 15,532 13,210 15,062 23,257 24,697 18,800 18,707 18,481 20,809 +2.5% 19,133 20,603 22,033 +6.0%
Gross margin, % — — 0.00 32.26 32.74 52.92 57.68 26.65 36.54 23.67 38.87 +23.7 pt
EBT — — (166) 139 851 11,254 10,491 940 2,803 (541) 3,444 +18.4%
EBT margin, % — — (1.07) 1.05 5.65 48.39 42.48 5.00 14.98 (2.93) 16.55 (1.9) pt
Net income — — (80) 307 866 9,172 8,479 1,036 2,203 (390) 2,183 +25.4%
Per share, $
Per share, $ Revenue — — 24.08 20.48 23.35 36.06 38.22 29.22 31.28 34.27 46.70 +5.2%
Earnings — — (0.12) 0.08 1.00 13.18 12.59 1.72 3.73 (0.68) 4.68 +28.1%
Cash flow — — 4.97 3.79 5.16 3.73 4.06 5.22 3.60 3.75 5.46 (4.0%)
Capex — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow — — 4.97 3.79 5.16 3.73 4.06 5.22 3.60 3.75 5.46 (4.0%)
Book value — — 0.00 0.00 61.68 44.72 15.97 19.64 20.61 25.89 16.67 n/m
Shares, m — — 645 645 645 645 646 643 598 539 478 (2.5%)
Valuation, ×
Valuation, × P/E — — 1.27 1.27 1.27 1.27 1.57 12.96 7.88 0.00 7.30 3.4
P/S — — 0.00 0.00 0.00 0.00 0.53 0.75 0.96 0.88 0.73 0.4
P/B — — 0.34 0.34 0.34 0.34 1.26 1.12 1.45 1.21 2.20 0.8
EV/Sales — — 0.00 0.00 0.00 0.00 1.13 1.35 1.58 1.45 — 0.7
EV/FCF — — 8.00 8.00 8.00 8.00 10.60 7.58 13.71 13.23 — 9.6
Cash, $m
Cash, $m Operating cash flow — — 3,208 2,445 3,327 2,405 2,621 3,357 2,151 2,021 2,433 (6.4%)
Capex — — — — — — — — — — — —
Free cash flow — — 3,208 2,445 3,327 2,405 2,621 3,357 2,151 2,021 2,433 (6.4%)
Balance, $m
Balance, $m Working capital — — — — (215,454) (228,082) (206,683) (227,747) (239,573) (258,667) (249,947) +3.7%
Net debt — — — — 10,592 15,143 14,774 11,260 11,586 10,459 11,126 (0.3%)
Shareholders’ equity — — — — 39,781 28,845 10,319 12,635 12,326 13,960 7,426 (18.9%)
Returns, %
Returns, % ROA — — 0.00 0.00 0.31 1.99 2.10 0.30 0.58 (0.09) 0.54 (0.1) pt
ROIC — — — 0.00 1.66 16.54 27.46 3.98 8.77 0.03 13.38 0.0 pt
ROE — — 0.00 0.00 0.00 24.02 41.67 9.62 17.87 (2.84) 20.56 (2.8) pt
People
People Employees — — — — — 8,545 1,100 5,700 5,200 4,800 — (13.4%)
Revenue/emp, $m — — 0.00 0.00 0.00 2.72 22.45 3.30 3.60 3.85 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Corebridge Financial provides retirement and insurance products, principally in the United States. It serves individuals saving for retirement, employers offering retirement plans, life insurance customers and institutions seeking to manage financial obligations. Marc Costantini is its president and chief executive officer.

Its Individual Retirement business sells annuities: contracts that help customers accumulate savings or receive retirement income. Fixed annuities offer principal protection and a specified return for a period. Fixed index annuities link returns to market indexes, while registered index-linked annuities offer some downside protection but can expose customers to losses beyond that protection. Some contracts offer optional lifetime income or death benefits.

Where the money comes from and where it goes Fiscal 2024

Fiscal 2024: revenue by segment, and margins
Individual Retirement 5,787 30.93%
Institutional Markets 5,226 27.94%
Life Insurance 4,351 23.26%
Group Retirement 2,717 14.52%
Other, not broken out 483 2.58%
Corporate & Other 143 0.76%
Gross margin 36.54%
Operating margin 17.95%
Pre-tax margin 14.98%

Revenue by segment since 2020

Corebridge Financial, Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TPG TPG Inc. $18.0B 19.7× 23.7× −0.20% (below 0%: shrinking) +367.06% (above 0%: growing) −57.60% (below 0%: shrinking) 100.00% 18.08% Compare
BEN Franklin Resources Inc $16.4B 22.0× 16.0× +14.26% (above 0%: growing) +106.67% (above 0%: growing) −55.71% (below 0%: shrinking) 100.00% 9.15% Compare
OWL Blue Owl Capital Inc. $15.5B 71.1× 35.0× +10.79% (above 0%: growing) +200.00% (above 0%: growing) +42.36% (above 0%: growing) 100.00% 18.32% Compare
CRBG Corebridge Financial, Inc. $15.0B 7.3× 16.6× +13.81% (above 0%: growing) +1,100.22% (above 0%: growing) +2,420.83% (above 0%: growing) 53.67% 39.88%
CG Carlyle Group Inc. $14.2B 39.7× 14.5× −28.57% (below 0%: shrinking) −57.30% (below 0%: shrinking) +82.56% (above 0%: growing) 100.00% 39.97% Compare
EQH Equitable Holdings, Inc. $14.2B 9.5× 15.9× +167.66% (above 0%: growing) n/m +385.71% (above 0%: growing) 73.90% 37.18% Compare
ARCC Ares Capital Corporation $14.0B 15.8× 14.9× −2.43% (below 0%: shrinking) −22.26% (below 0%: shrinking) +236.09% (above 0%: growing) 100.00% 72.74% Compare
SEIC SEI Investments Company $12.5B 17.9× 17.1× +14.44% (above 0%: growing) +6.77% (above 0%: growing) −9.48% (below 0%: shrinking) 100.00% 29.91% Compare
IVZ Invesco Ltd. $11.9B — (loss-making) 10.1× +14.19% (above 0%: growing) −1.49% (below 0%: shrinking) −24.49% (below 0%: shrinking) 65.64% 23.30% Compare
Median of peers $14.2B 19.7× 16.0× +12.49% +6.77% +16.44% 100.00% 26.61%

All 121 Asset Management stocks →

From the latest earnings call

Updated

  • CEO Marc Costantini said Corebridge shifted capital toward institutional markets as competition tightened in individual retirement, and expected retail sales to rebound in Q3.
  • Interim CFO Chris Filiaggi said variable investment income returns would remain below target for the rest of the year, reflecting the investment environment.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 109.16%
Held by the ten largest 77.32%
Holder Shares Stake Change
NIPPON LIFE INSURANCE CO 121.96m 27.36% 0.00
Blackstone Inc. 61.96m 13.90% 0.00
PZENA INVESTMENT MANAGEMENT LLC 33.79m 7.58% +6.74m
BlackRock 25.38m 5.69% +25.37m
Vanguard 24.78m 5.56% −2.04m
HARRIS ASSOCIATES L P 24.62m 5.52% +233.30k
Fidelity (FMR) 14.61m 3.28% +13.82m
Norges Bank 14.21m 3.19% +14.21m
Dimensional Fund Advisors 11.72m 2.63% +2.85m
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 11.64m 2.61% +2.56m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Corebridge Financial, Inc. (CRBG) Latest News

3 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · GuruFocus.com
Impact 3 · · Moby

2 Nov

Impact 3 · · Business Wire

29 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 · · Zacks

12 Oct

Impact 4 · · Business Wire

18 Sep

Impact 3 ·

16 Sep

Impact 4 · · MarketBeat

11 Aug

Impact 4 · · The Motley Fool transcript

6 Aug

Impact 3 ·
Impact 3 · · MarketBeat transcript

5 Aug

Impact 4 ·
Impact 3 · · Moby transcript

4 Aug

Impact 4 ·
Impact 3 ·

30 Jul

Impact 4 ·
Impact 3 ·

27 Jul

Impact 3 ·

9 Jun

Impact 3 · · Business Wire

6 Jun

Impact 3 · · Simply Wall St.

12 May

Impact 4 · · Business Wire

11 May

Impact 5 · · PR Newswire

6 May

Impact 4 · · MarketBeat
Impact 4 · · lifeinsuranceinternational.com

5 May

Impact 4 · · Business Wire
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

4 May

Impact 4 ·
Impact 4 · · Zacks

CRBG metrics, ten years each

stockrow.com/CRBG · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com