F&G Annuities & Life, Inc. (FG) vs Primerica, Inc. (PRI)

F&G Annuities & Life, Inc. and Primerica, Inc. are both Insurance Life companies. Primerica, Inc. is the larger, with a market value of $8.5B against $2.8B — 3.0× the size. F&G Annuities & Life, Inc. trades at the lower P/E: 7.4× against 11.1×. F&G Annuities & Life, Inc. grew revenue faster over the last twelve months: 15.0% against 8.57%. Primerica, Inc. has the higher net margin (23.2% vs 6.61%) and the higher return on invested capital (17.9% vs 8.88%). Both pay a dividend; F&G Annuities & Life, Inc. yields more (1.34% vs 1.10%). Across the 23 metrics below, F&G Annuities & Life, Inc. leads on 14 and Primerica, Inc. on 9.

Valuation

Metric FG PRI Insurance Life median
P/E 7.36 11.05 12.15
P/S 0.47 2.51 0.75
P/B 0.61 3.41 1.12
Price to free cash flow 0.66 10.21 7.78
EV/EBITDA 2.17 7.87 8.42
EV/Sales 0.50 3.20 0.80
Earnings yield 13.58% 9.05% 8.23%
Free cash flow yield 150.61% 9.80% 11.12%

Profitability

Metric FG PRI Insurance Life median
Gross margin 30.01% 81.38% 32.44%
Operating margin 11.31% 30.60% 11.31%
Net margin 6.61% 23.20% 6.61%
Free cash flow margin 71.29% 24.54% 15.04%
Return on equity 8.67% 32.97% 8.67%
Return on assets 0.41% 5.38% 0.67%
Return on invested capital 8.88% 17.86% 8.20%

Growth

Metric FG PRI Insurance Life median
Revenue growth (TTM) 15.01% 8.57% 7.91%
EPS growth (last fiscal year) (61.48%) 67.10% —
Revenue growth, 5-year CAGR 32.79% 8.22% 1.08%
Net income growth, 5-year CAGR 0.00% 14.33% 0.00%

Health

Metric FG PRI Insurance Life median
Debt to equity 0.48 0.66 0.48
Current ratio 0.30 0.33 0.21
Net debt to EBITDA 0.65 0.76 0.12

Dividend

Metric FG PRI Insurance Life median
Dividend yield 1.34% 1.10% 2.41%
Payout ratio — 0.22 0.17

Size

Metric FG PRI Insurance Life median
Market cap 2.82b 8.45b 7.92b

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