NYSE : CRBG
Corebridge Financial, Inc. — Financial statements
Financials · Asset Management · United States
Last price 34.81 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 15.52B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 5.48B | 5.86B | 4.53B | 7.61B | 5.09B | 5.65B |
| Total Interest & Dividend Income | 12.98B | 13.12B | 12.23B | 11.08B | 9.58B | 11.67B |
| Gain (Loss) on Sale of Investments | -576.00M | -925.00M | -1.26B | -474.00M | -481.00M | 1.79B |
| Other Revenue | 1.63B | 554.00M | 3.07B | 788.00M | 9.76B | 3.81B |
| Total Revenue | 19.52B | 18.62B | 18.57B | 19.00B | 23.94B | 22.93B |
| Policy Benefits | 13.95B | 14.11B | 11.87B | 13.79B | 10.45B | 10.95B |
| Policy Acquisition & Underwriting Costs | 1.44B | 1.60B | 1.65B | 1.63B | 1.59B | 1.57B |
| Selling, General & Administrative | 2.12B | 2.28B | 2.30B | 2.54B | 2.59B | 2.43B |
| Total Operating Expenses | 17.52B | 17.99B | 15.82B | 17.96B | 14.63B | 14.95B |
| Operating Income | 2.00B | 631.00M | 2.74B | 1.04B | 9.31B | 7.98B |
| Interest Expense | -529.00M | -552.00M | -554.00M | -580.00M | -534.00M | -389.00M |
| Currency Exchange Gain (Loss) | 546.00M | -136.00M | 141.00M | -205.00M | 756.00M | 330.00M |
| Other Non Operating Income (Expenses) | -936.00M | -484.00M | 227.00M | 6.00M | 958.00M | 473.00M |
| EBT Excluding Unusual Items | 1.08B | -541.00M | 2.56B | 264.00M | 10.49B | 8.39B |
| Gain (Loss) on Sale of Assets | 2.00M | 245.00M | 676.00M | -1.00M | 3.08B | |
| Other Unusual Items | -219.00M | |||||
| Pretax Income | 1.08B | -541.00M | 2.80B | 940.00M | 10.49B | 11.25B |
| Income Tax Expense | 202.00M | -151.00M | 600.00M | -96.00M | 2.01B | 2.08B |
| Earnings From Continuing Ops. | 876.00M | -390.00M | 2.20B | 1.04B | 8.48B | 9.17B |
| Minority Interest in Earnings | 31.00M | 24.00M | 27.00M | 68.00M | -320.00M | -929.00M |
| Net Income | 907.00M | -366.00M | 2.23B | 1.10B | 8.16B | 8.24B |
| Preferred Dividends & Other Adjustments | 18.00M | |||||
| Net Income to Common | 889.00M | -366.00M | 2.23B | 1.10B | 8.16B | 8.24B |
| Shares Outstanding (Basic) | 494.15M | 539.30M | 598.00M | 643.30M | 646.10M | 645.00M |
| Shares Outstanding (Diluted) | 494.15M | 539.30M | 599.20M | 645.20M | 647.40M | 645.00M |
| EPS (Basic) | 1.80 | -0.68 | 3.73 | 1.72 | 12.63 | 12.78 |
| EPS (Diluted) | 1.80 | -0.68 | 3.72 | 1.71 | 12.60 | 12.78 |
| Dividend Per Share | 0.98 | 0.96 | 0.92 | 0.92 | 0.46 | |
| Operating Margin | 10.22% | 3.39% | 14.78% | 5.49% | 38.90% | 34.80% |
| Profit Margin | 4.55% | -1.97% | 12.01% | 5.81% | 34.08% | 35.95% |
| EBITDA | 2.71B | 1.19B | 2.94B | 1.41B | 9.90B | 8.39B |
| EBITDA Margin | 13.87% | 6.38% | 15.82% | 7.41% | 41.34% | 36.60% |
| D&A For EBITDA | 711.00M | 556.00M | 193.00M | 366.00M | 585.00M | 413.00M |
| EBIT | 2.00B | 631.00M | 2.74B | 1.04B | 9.31B | 7.98B |
| EBIT Margin | 10.22% | 3.39% | 14.78% | 5.49% | 38.90% | 34.80% |
| Effective Tax Rate | 18.74% | 21.41% | 19.18% | 18.50% | ||
| Revenue as Reported | 20.06B | 18.48B | 18.71B | 18.80B | 24.70B | 23.26B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 194.74B | 194.79B | 176.10B | 171.10B | 160.56B | 200.65B |
| Investments in Equity & Preferred Securities | 50.00M | 79.00M | 56.00M | 63.00M | 170.00M | 242.00M |
| Policy Loans | 1.66B | 1.69B | 1.73B | 1.75B | 1.75B | 1.83B |
| Other Investments | 14.89B | 14.92B | 13.40B | 12.66B | 12.92B | 13.63B |
| Total Investments | 262.04B | 262.59B | 240.47B | 229.42B | 215.48B | 253.41B |
| Cash & Equivalents | 353.00M | 447.00M | 806.00M | 612.00M | 552.00M | 537.00M |
| Reinsurance Recoverable | 25.56B | 26.05B | 26.49B | 28.39B | 29.36B | 31.40B |
| Other Receivables | 5.39B | 5.69B | 6.17B | 5.80B | 7.30B | 5.62B |
| Deferred Policy Acquisition Cost | 8.84B | 8.88B | 10.29B | 10.01B | 10.56B | 8.06B |
| Separate Account Assets | 98.77B | 95.58B | 93.89B | 91.00B | 84.85B | 109.11B |
| Property, Plant & Equipment | 79.00M | 75.00M | 20.00M | |||
| Restricted Cash | 3.00M | 4.00M | 4.00M | 3.00M | 81.00M | 64.00M |
| Other Current Assets | 976.00M | 441.00M | 193.00M | 2.63B | 299.00M | |
| Long-Term Deferred Tax Assets | 7.29B | 7.47B | 7.90B | 8.58B | 8.83B | 4.84B |
| Other Long-Term Assets | 6.58B | 6.31B | 3.11B | 2.79B | 3.01B | 3.18B |
| Total Assets | 415.79B | 413.55B | 389.40B | 379.27B | 360.32B | 416.21B |
| Insurance & Annuity Liabilities | 263.49B | 260.12B | 238.46B | 227.72B | 214.20B | 217.45B |
| Current Portion of Long-Term Debt | 1.25B | 1.10B | ||||
| Current Portion of Leases | 18.00M | |||||
| Short-Term Debt | 3.60B | 4.50B | 3.00B | 2.75B | 4.60B | 12.02B |
| Long-Term Debt | 9.62B | 10.91B | 11.29B | 11.62B | 13.83B | 7.36B |
| Long-Term Leases | 62.00M | 80.00M | 26.00M | 43.00M | 66.00M | |
| Separate Account Liability | 98.77B | 95.58B | 93.89B | 91.00B | 84.85B | 109.11B |
| Other Current Liabilities | 23.24B | 23.95B | 24.40B | 27.84B | 26.65B | 35.34B |
| Other Long-Term Liabilities | 4.44B | 4.45B | 4.85B | 5.66B | 5.84B | 5.95B |
| Total Liabilities | 404.42B | 399.59B | 377.07B | 366.63B | 350.00B | 387.28B |
| Preferred Stock, Redeemable | 493.00M | 493.00M | ||||
| Total Preferred Equity | 493.00M | 493.00M | ||||
| Common Stock | 7.00M | 7.00M | 7.00M | 6.00M | 6.00M | 6.00M |
| Additional Paid-In Capital | 8.15B | 8.16B | 8.16B | 8.15B | 8.03B | 8.05B |
| Retained Earnings | 18.07B | 18.37B | 19.26B | 17.57B | 18.21B | 8.86B |
| Treasury Stock | -5.91B | -4.38B | -2.28B | -503.00M | ||
| Comprehensive Income & Other | -10.17B | -9.45B | -13.68B | -13.46B | -16.86B | 10.17B |
| Total Common Equity | 10.16B | 12.71B | 11.46B | 11.77B | 9.38B | 27.09B |
| Minority Interest | 722.00M | 759.00M | 864.00M | 869.00M | 939.00M | 1.84B |
| Shareholders' Equity | 11.37B | 13.96B | 12.33B | 12.63B | 10.32B | 28.93B |
| Total Liabilities & Equity | 415.79B | 413.55B | 389.40B | 379.27B | 360.32B | 416.21B |
| Filing Date Shares Outstanding | 445.77M | 481.69M | 556.00M | 622.55M | 647.56M | 645.00M |
| Total Common Shares Outstanding | 445.77M | 496.37M | 561.49M | 621.66M | 645.00M | 645.00M |
| Total Debt | 14.47B | 15.49B | 15.47B | 14.40B | 18.47B | 19.45B |
| Net Cash (Debt) | -14.12B | -15.04B | -14.67B | -13.79B | -17.92B | -18.91B |
| Net Cash Per Share | -28.57 | -27.89 | -24.48 | -21.37 | -27.68 | -29.32 |
| Book Value Per Share | 22.79 | 25.60 | 20.41 | 18.93 | 14.54 | 41.99 |
| Tangible Book Value | 10.16B | 12.71B | 11.46B | 11.77B | 9.38B | 27.09B |
| Tangible Book Value Per Share | 22.79 | 25.60 | 20.41 | 18.93 | 14.54 | 41.99 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 907.00M | -366.00M | 2.23B | 1.10B | 8.16B | 8.24B |
| Depreciation & Amortization | 711.00M | 556.00M | 193.00M | 366.00M | 585.00M | 413.00M |
| Gain (Loss) on Sale of Assets | -2.00M | -245.00M | -676.00M | 1.00M | -3.08B | |
| Gain (Loss) on Sale of Investments | 451.00M | 1.05B | 1.05B | 304.00M | 377.00M | -1.74B |
| Change in Accounts Receivable | 34.00M | 174.00M | -167.00M | -265.00M | 40.00M | 156.00M |
| Reinsurance Recoverable | 661.00M | 1.02B | 825.00M | 675.00M | 1.09B | 307.00M |
| Change in Income Taxes | 206.00M | -343.00M | 349.00M | -116.00M | 912.00M | 169.00M |
| Change in Insurance Reserves / Liabilities | 188.00M | 630.00M | 980.00M | 770.00M | 996.00M | 1.54B |
| Change in Other Net Operating Assets | -205.00M | -523.00M | -412.00M | 1.13B | 390.00M | -709.00M |
| Other Operating Activities | 993.00M | 1.78B | 12.00M | 1.38B | -297.00M | -739.00M |
| Operating Cash Flow | 1.85B | 2.02B | 2.15B | 3.36B | 2.62B | 2.40B |
| Cash Acquisitions | -5.00M | -107.00M | ||||
| Investment in Securities | -9.09B | -11.56B | -5.71B | -2.59B | 284.00M | -1.18B |
| Other Investing Activities | 1.26B | -803.00M | -37.00M | -622.00M | -1.04B | -591.00M |
| Investing Cash Flow | -7.75B | -13.33B | -11.54B | -5.48B | -7.25B | -1.97B |
| Short-Term Debt Issued | 1.51B | 345.00M | ||||
| Long-Term Debt Issued | 1.62B | 2.13B | 1.46B | 8.40B | 4.69B | |
| Total Debt Issued | 1.65B | 1.62B | 2.13B | 1.46B | 9.91B | 5.04B |
| Total Debt Repaid | -1.60B | -1.67B | -1.23B | -2.33B | -10.19B | -5.94B |
| Net Debt Issued (Repaid) | 42.00M | -48.00M | 895.00M | -868.00M | -278.00M | -904.00M |
| Issuance of Common Stock | 1.00M | |||||
| Repurchases of Common Stock | -3.04B | -2.12B | -1.79B | -498.00M | ||
| Issuance of Preferred Stock | 493.00M | 493.00M | ||||
| Common Dividends Paid | -473.00M | -511.00M | -544.00M | -1.72B | -876.00M | -1.58B |
| Common & Preferred Dividends Paid | -18.00M | |||||
| Total Dividends Paid | -491.00M | -511.00M | -544.00M | -1.72B | -876.00M | -1.58B |
| Other Financing Activities | -716.00M | -680.00M | -396.00M | 144.00M | -32.00M | -1.23B |
| Financing Cash Flow | 5.96B | 10.94B | 9.58B | 2.11B | 4.67B | -753.00M |
| Foreign Exchange Rate Adjustments | 2.00M | 1.00M | 1.00M | 3.00M | -10.00M | -2.00M |
| Miscellaneous Cash Flow Adjustments | -3.00M | |||||
| Net Cash Flow | 62.00M | -371.00M | 196.00M | -5.00M | 32.00M | -317.00M |
| Levered Free Cash Flow | 642.25M | -426.62M | 1.59B | 752.38M | 304.25M | 8.09B |
| Unlevered Free Cash Flow | 972.88M | -81.62M | 1.93B | 1.11B | 638.00M | 8.33B |
| Cash Interest Paid | 552.00M | 584.00M | 538.00M | 583.00M | 472.00M | 364.00M |
| Cash Income Tax Paid | 192.00M | 252.00M | 20.00M | 1.10B | 1.91B | |
| Change in Working Capital | -1.27B | -1.06B | -1.22B | 801.00M | -6.13B | -759.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.68B | 15.70B | 17.03B | 13.64B | 12.94B | |
| Enterprise Value | 29.79B | 30.88B | 34.34B | 26.66B | 28.98B | |
| PE Ratio | 19.57 | 7.63 | 12.35 | 1.59 | ||
| PS Ratio | 0.81 | 0.84 | 0.92 | 0.72 | 0.54 | |
| PB Ratio | 1.53 | 1.12 | 1.38 | 1.08 | 1.25 | |
| P/OCF Ratio | 8.53 | 7.77 | 7.92 | 4.06 | 4.94 | |
| EV/Sales Ratio | 1.53 | 1.66 | 1.85 | 1.40 | 1.21 | |
| EV/EBITDA Ratio | 11.06 | 26.02 | 11.69 | 18.92 | 2.93 | |
| EV/EBIT Ratio | 15.00 | 48.94 | 12.52 | 25.56 | 3.11 | |
| Debt / Equity Ratio | 1.27 | 1.11 | 1.25 | 1.14 | 1.79 | 0.67 |
| Debt / EBITDA Ratio | 5.30 | 12.81 | 5.24 | 10.10 | 1.86 | 2.31 |
| Net Debt / Equity Ratio | 1.24 | 1.08 | 1.19 | 1.09 | 1.74 | 0.65 |
| Net Debt / EBITDA Ratio | 5.22 | 12.67 | 4.99 | 9.78 | 1.81 | 2.25 |
| Quick Ratio | 0.19 | 0.24 | 0.23 | 0.18 | 0.19 | 0.14 |
| Current Ratio | 1.22 | 1.25 | 1.24 | 1.26 | 1.20 | 0.85 |
| Asset Turnover | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 |
| Return on Equity (ROE) | 7.14% | -2.97% | 17.65% | 9.03% | 43.21% | 26.68% |
| Return on Assets (ROA) | 0.31% | 0.10% | 0.45% | 0.18% | 1.50% | 1.21% |
| Return on Invested Capital (ROIC) | 5.95% | 2.21% | 7.87% | 3.74% | 19.51% | 12.61% |
| Earnings Yield | 5.11% | -2.33% | 13.10% | 8.10% | 63.06% | |
| Dividend Yield | 2.84% | 3.03% | 3.03% | 4.19% | 2.29% | |
| Payout Ratio | 55.65% | 24.39% | 155.98% | 10.74% | 19.13% | |
| Buyback Yield / Dilution | 12.72% | 10.00% | 7.13% | 0.34% | -0.37% | -0.47% |
| Total Shareholder Return | 15.55% | 13.03% | 10.16% | 4.53% | 1.92% | -0.47% |