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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

34.33 0.09 +0.26%
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

Corebridge Financial, Inc. (CRBG) valuation and DCF model

What the price implies · reverse DCF

At $34.33 the price implies 13.5% a year of dividend growth, at a 9.0% cost of equity.

Return on equity averaged 11.3% over ten years; the price implies 15.9% for good.

In December 2022 the price assumed 7.1% a year; Corebridge Financial, Inc. went on to grow the dividend a share −8.3% a year to FY2025.

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
13.5% a year for ten years
$34.33
today’s price
Its base case
5.0% a year for five years, then 3.0%
$16.96
50.6% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Corebridge Financial, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 13.5% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Corebridge Financial, Inc.’s own cost of capital: risk-free 4.3% + beta 1.08 × equity premium 4.5% = 9.2% cost of equity; weighted, 9.2%.

Use 9.2%
Base case value per share $16.96 ten years discounted, and what follows
Current price $34.33 market price per share
Below today’s price 50.6% downside at the base case’s assumptions

How we got there$7.59 10 years of dividends+$9.37 terminal value=$16.96 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Asset Management).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 7.30× 6.20× 4.35× 68% above 13.38× 45% below
P/FCF 6.26× 6.36× 5.52× 13% above 7.79× 20% below
P/B 2.20× 1.45× 0.95× 130% above 0.91× 142% above
EV/EBITDA — 17.83× 17.83× — 3.38× —
EV/Sales — 1.38× 1.38× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
1.11×1.27×1.42×1.58×10Y avg 1.38×2022202320242025

EV/Sales has no reading today; its 10-year average is 1.38×.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.