Financials F&G Annuities & Life, Inc.

Equities

FG

US30190A1043

Life & Health Insurance

Real-time Estimate Cboe BZX Other stock markets 03:58:55 2024-07-09 pm EDT			5-day change	1st Jan Change
38.06 ^USD	+0.78%		+1.98%	-17.07%

Jun. 28	Piper Sandler Adjusts Price Target on F&G Annuities & Life to $42 From $43, Maintains Neutral Rating	MT
Jun. 04	F&G Annuities & Life Announces Early Cash Tender Offer Results for Senior Notes	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025
Capitalization ¹	2,501	5,773	4,764	-
Enterprise Value (EV) ¹	2,655	5,773	4,764	4,764
P/E ratio	4.79 x	-97.9 x	8.36 x	7.25 x
Yield	-	-	-	-
Capitalization / Revenue	1.07 x	1.28 x	0.82 x	0.8 x
EV / Revenue	1.07 x	1.28 x	0.82 x	0.8 x
EV / EBITDA	-	-	-	-
EV / FCF	3,824,542 x	-	-	-
FCF Yield	0%	-	-	-
Price to Book	1.39 x	1.87 x	1.23 x	1.07 x
Nbr of stocks (in thousands)	125,000	125,497	126,125	-
Reference price ²	20.01	46.00	37.77	37.77
Announcement Date	2/22/23	2/21/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2022	2023	2024	2025
Net sales ¹	2,113	2,340	4,500	5,840	5,985
EBITDA	-	-	-	-	-
EBIT	510	-	-	-	-
Operating Margin	24.14%	-	-	-	-
Earnings before Tax (EBT) ¹	568	598	-35	685.5	853.5
Net income ¹	476	481	-58	560	647
Net margin	22.53%	20.56%	-1.29%	9.59%	10.81%
EPS ²	-	4.180	-0.4700	4.520	5.210
Free Cash Flow	-	654	-	-	-
FCF margin	-	27.95%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	135.97%	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	2/26/20	2/22/23	2/21/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	-	623	869	1,168	851	1,612	1,569	1,292	1,432	1,557	1,453	1,484
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	-176	-203	163	380	-375	142	174	184	196.5	207	217
Net income ¹	115	-100	-195	130	306	-299	111	142	150	157	-	-
Net margin	-	-16.05%	-22.44%	11.13%	35.96%	-18.55%	7.07%	10.99%	10.47%	10.08%	-	-
EPS ²	0.7600	-0.8000	-1.560	1.040	2.450	-2.410	0.8800	1.150	1.210	1.260	1.280	1.300
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/10/22	2/22/23	5/3/23	8/8/23	11/7/23	2/21/24	5/8/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2022	2023	2024	2025
Net Debt	-	154	-	-	-
Net Cash position	427	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	654	-	-	-
ROE (net income / shareholders' equity)	17.6%	7.9%	6.49%	8.44%	9.94%
ROA (Net income/ Total Assets)	-	-	0.54%	1.2%	1.19%
Assets ¹	-	-	-10,807	46,667	54,370
Book Value Per Share ²	-	14.40	24.60	30.80	35.30
Cash Flow per Share	-	27.60	-	-	-
Capex	-	32	-	-	-
Capex / Sales	-	1.37%	-	-	-
Announcement Date	2/26/20	2/22/23	2/21/24	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for F&G Annuities & Life, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

37.77 USD

Average target price

42.5 USD

Spread / Average Target

+12.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Life & Health Insurance

	1st Jan change	Capi.
F&G ANNUITIES & LIFE, INC.	-17.07%	4.76B
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MANULIFE FINANCIAL CORPORATION	+25.48%	48.37B
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GENERALI	+23.00%	40.04B
CHINA PACIFIC INSURANCE (GROUP) CO., LTD.	+21.57%	33.49B
SUN LIFE FINANCIAL INC.	-2.49%	28.51B
CATHAY FINANCIAL HOLDING CO., LTD.	+35.74%	28.14B
GREAT-WEST LIFECO INC.	-9.60%	27.07B

Other Life & Health Insurance