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Financial statements

Corebridge Financial, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Corebridge Financial, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2020FY2022FY2022FY2023FY2024FY2025
Revenue15,06223,25724,69718,80018,70718,481
Selling, general and administrative2,0272,1042,3232,2822,0162,002
Interest expense490389534580554552
Pre-tax income85111,25410,4919402,803-541
Income tax-152,0822,012-96600-151
Net income to minority interests224929320-68-27-24
Net income6428,2438,1591,1042,230-366
EPS, basic12.631.723.73-0.68
EPS, diluted12.601.713.72-0.68
Shares, basic (weighted)646643598539
Shares, diluted (weighted)647645599539

Balance sheet

FY2020FY2022FY2022FY2023FY2024FY2025
Cash and equivalents918601633628824453
Property, plant and equipment403323440
Lease right-of-use assets5136207579
Goodwill218192175117
Intangible assets3118120
Total assets416,212360,322379,270389,397413,547
Short-term debt8,3171,5002501,1010
Total liabilities387,284350,003366,635377,071399,587
Total debt4277,868
Paid-in capital8,0548,0308,1498,1618,162
Retained earnings8,85918,20717,57219,25718,373
Treasury stock0-503-2,282-4,382
Other comprehensive income10,167-16,863-13,458-13,681-9,452
Shareholders' equity27,0869,38011,76611,46213,201
Minority interests1,759939869864759
Total equity39,78128,98910,31912,63512,32613,960
Total liabilities and equity416,212360,322379,270389,397413,547
Shares outstanding645622561496

Cash flow statement

FY2020FY2022FY2022FY2023FY2024FY2025
Net income8669,1728,4791,0362,203-390
Depreciation and amortization325413585366193556
Stock-based compensation748875605867
Deferred income tax-1,7391361,134-402635337
Cash from operations3,3272,4052,6213,3572,1512,021
Acquisitions00-107-500
Purchases of investments-35,635-36,641-19,499-18,321-29,644-44,452
Sales and maturities of investments15,50720,4209,6218,85916,16419,312
Cash from investing-7,909-1,967-7,253-5,476-11,536-13,332
Debt issued007,451
Debt repaid-11-568-1,228-535-982
Stock issued0010
Share buybacks00-498-1,792-2,118
Dividends paid00-876-1,722-544-511
Cash from financing4,666-7534,6742,1149,58010,939
Exchange rate effect7-2-10311
Net change in cash91-31732-2196-371
Interest paid279364472583538584
Income taxes paid1,9151,9131,10120252192

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $34.87 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Pre-tax margin5.4%Pre-tax income / revenue.
Net margin4.5%Net income / revenue.
Operating cash flow margin9.2%Cash from operations / revenue.
Effective tax rate18.7%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)8.5%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)0.2%Net income / average total assets.
SG&A / revenue9.4%Selling, general and administrative expense / revenue.
D&A / revenue3.5%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y-1.2%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y-9.2%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y4.2%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y-116.4%Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y-118.3%EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y-6.0%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y-8.3%Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y-9.5%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y15.2%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y12.1%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y6.2%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y4.7%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y-10.0%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y-5.9%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Liabilities / assets97.3%Total liabilities / total assets.
Tangible book value$10.65BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.05xRevenue / average total assets.

Per share

MetricValueHow it is calculated
EPS, diluted$2.00Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$44.17Revenue / diluted weighted shares.
Operating cash flow per share$4.08Cash from operations / diluted weighted shares.
Book value per share$23.89Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$23.89Tangible book value / shares outstanding.
Cash per share$0.80(Cash + short-term investments) / shares outstanding.
Payout ratio52.1%Dividends paid / net income, when net income is positive.

Valuation

MetricValueHow it is calculated
Market cap$15.54BShare price x shares outstanding.
Enterprise value$15.19BMarket cap + total debt - cash - short-term investments.
P/E17.1xMarket cap / net income. Only when net income is positive.
P/S0.77xMarket cap / revenue.
P/B1.46xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book1.46xMarket cap / tangible book value, when positive.
P/OCF8.39xMarket cap / cash from operations, when positive.
EV/Sales0.76xEnterprise value / revenue.
Earnings yield5.8%Net income / market cap (the inverse of P/E).
Dividend yield3.0%Dividends paid over the period / market cap.
Shareholder yield22.6%(Dividends paid + share buybacks) / market cap.
What was Corebridge Financial, Inc.'s revenue in fiscal 2025?

Corebridge Financial, Inc. reported revenue of $18.48B for fiscal 2025, 1.2% lower than the year before.

Was Corebridge Financial, Inc. profitable in fiscal 2025?

No. It reported a net loss of $366.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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