F&G Annuities & Life, Inc. (FG) Income Statement
FG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFG revenue and net income
Where FG's revenue goes
2025Each bar shows an amount and its share of revenue. FG kept 4.6% of revenue as net income.
FG profit margins
FG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.7% | +36.8% | +32.0% | — |
| Gross profit | +8.5% | +16.7% | +4.3% | — |
| Operating income | −58.5% | −25.9% | −24.7% | — |
| Net income | −58.5% | −25.3% | — | — |
| EPS (diluted) | −15.8% | +62.7% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FG quarterly EPS vs estimates
F&G Annuities & Life beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.60).
FG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.73B | $5.42B | $4.27B | $2.24B | $3.38B | $1.43B | $1.81B | $711.0M | $1.98B | $1.1M |
| Cost of revenue | $3.96B | $3.79B | $3.55B | $1.13B | $1.93B | $169.56B | $1.15B | $163.76B | $141.05B | $0 |
| Gross profit | $1.77B | $1.63B | $718.0M | $1.11B | $1.45B | $1.43B | $665.0M | $711.0M | $1.98B | $1.1M |
| Sales, general & admin | $293.0M | $296.0M | $232.0M | $157.0M | $129.0M | $19.92B | $78.0M | $150.0M | $132.0M | $1.4M |
| Total operating expenses | $1.45B | $852.0M | $753.0M | $320.0M | −$99.0M | $99.0M | $244.0M | $653.0M | $1.73B | $1.4M |
| Operating income | $323.0M | $778.0M | −$35.0M | $793.0M | $1.55B | $1.33B | $421.0M | $58.0M | $252.0M | −$336,266 |
| Interest income | $164.0M | $2.66B | $1.92B | $29.0M | $198.0M | $890.0M | $1.39B | $2.45B | $2.88B | — |
| Interest expense | $164.0M | $132.0M | $97.0M | $29.0M | $29.0M | — | $32.0M | — | — | — |
| Income before taxes | $323.0M | $778.0M | −$35.0M | $793.0M | $1.55B | −$128.0M | $421.0M | $29.0M | $228.0M | −$336,266 |
| Income taxes | $52.0M | $136.0M | $23.0M | $158.0M | $320.0M | −$89.0M | $60.0M | $16.0M | $1.32B | — |
| Net income | $265.0M | $639.0M | −$58.0M | $635.0M | $1.24B | −$178.0M | $412.0M | −$16.0M | −$1.12B | −$336,266 |
| EBITDA | $1.15B | $1.48B | $474.0M | $1.15B | $1.85B | $139.0M | $581.0M | −$58.0M | −$48.0M | — |
| EPS (diluted) | $3.62 | $4.30 | $2.58 | $0.84 | $9.81 | −$1.41 | $1.47 | $1.18 | $0.01 | −$0.02 |
| Gross margin | 30.8% | 30.1% | 16.8% | 49.7% | 42.9% | 100.0% | 36.7% | 100.0% | 100.0% | 100.0% |
| Operating margin | 5.6% | 14.4% | −0.8% | 35.4% | 45.8% | 93.1% | 23.2% | 8.2% | 12.7% | −31.6% |
| Net margin | 4.6% | 11.8% | −1.4% | 28.4% | 36.6% | −12.4% | 22.7% | −2.3% | −56.4% | −31.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.42B | $1.19B | $1.76B | $1.60B | $1.30B | $854.0M | $1.47B | $1.36B | $1.07B | $1.51B | $1.55B | $783.0M |
| Cost of revenue | $1.15B | $484.0M | $1.26B | $1.18B | $993.0M | $524.0M | $927.0M | $1.09B | $608.0M | $1.16B | $1.63B | $292.0M |
| Gross profit | $272.0M | $703.0M | $500.0M | $422.0M | $311.0M | $330.0M | $543.0M | $266.0M | $467.0M | $354.0M | −$80.0M | $491.0M |
| Sales, general & admin | $77.0M | $60.0M | $70.0M | $79.0M | $77.0M | $67.0M | $81.0M | $80.0M | $69.0M | $66.0M | $65.0M | $58.0M |
| Total operating expenses | $366.0M | $380.0M | $339.0M | $291.0M | $254.0M | $356.0M | $131.0M | $296.0M | $213.0M | $212.0M | $295.0M | $111.0M |
| Operating income | −$94.0M | $323.0M | $161.0M | $131.0M | $57.0M | −$26.0M | $412.0M | −$30.0M | $254.0M | $142.0M | −$375.0M | $380.0M |
| Interest income | $681.0M | $690.0M | $41.0M | $709.0M | $677.0M | $673.0M | $690.0M | $694.0M | $653.0M | $622.0M | $589.0M | $92.0M |
| Interest expense | $41.0M | $41.0M | $41.0M | $42.0M | $41.0M | $40.0M | $38.0M | $36.0M | $28.0M | $30.0M | $26.0M | $24.0M |
| Income before taxes | −$94.0M | $323.0M | $161.0M | $131.0M | $57.0M | −$26.0M | $412.0M | −$30.0M | $254.0M | $142.0M | −$375.0M | $380.0M |
| Income taxes | −$19.0M | $74.0M | $31.0M | $11.0M | $15.0M | −$5.0M | $85.0M | −$25.0M | $50.0M | $26.0M | −$76.0M | $74.0M |
| Net income | −$76.0M | $248.0M | $128.0M | $118.0M | $40.0M | −$21.0M | $327.0M | −$6.0M | $203.0M | $115.0M | −$299.0M | $306.0M |
| EBITDA | $122.0M | $537.0M | $376.0M | $353.0M | $256.0M | $167.0M | $602.0M | $153.0M | $429.0M | $295.0M | −$239.0M | $512.0M |
| EPS (diluted) | $0.65 | $0.82 | $0.91 | $1.22 | $0.77 | $0.72 | $1.12 | $1.22 | $1.10 | $0.86 | $0.60 | $0.96 |
| Gross margin | 19.1% | 59.2% | 28.3% | 26.3% | 23.8% | 38.6% | 36.9% | 19.5% | 43.4% | 23.4% | −5.2% | 62.7% |
| Operating margin | −6.6% | 27.2% | 9.1% | 8.2% | 4.4% | −3.0% | 28.0% | −2.2% | 23.6% | 9.4% | −24.2% | 48.5% |
| Net margin | −5.3% | 20.9% | 7.3% | 7.4% | 3.1% | −2.5% | 22.2% | −0.4% | 18.9% | 7.6% | −19.3% | 39.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FG's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FG financial results
In fiscal year 2025 (ended December 31, 2025), F&G Annuities & Life reported revenue of $5.7 billion, up 5.7% from the year before. It had net income of $265.0 million (down 58.5%), a net profit margin of 4.6%. Diluted earnings per share came to $3.62. Over five years revenue grew at an average rate of 32.0% a year.
See the FG stock overview for the latest quote and news, or the FG chart for price history and technical indicators.
FG income statement FAQ
What is F&G Annuities & Life's annual revenue?
F&G Annuities & Life reported total revenue of $5.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 5.7% from $5.4 billion the previous year.
Is F&G Annuities & Life profitable?
Yes. F&G Annuities & Life reported net income of $265.0 million in fiscal 2025, a net profit margin of 4.6%; its operating margin was 5.6%.
What is F&G Annuities & Life's gross margin?
F&G Annuities & Life's gross margin was 30.8% in fiscal 2025: for every $100 of revenue, F&G Annuities & Life kept $31 after the direct cost of its products and services.
How fast is F&G Annuities & Life growing?
Revenue grew 32.0% a year on average over the last five fiscal years, from $1.4 billion to $5.7 billion.
What are F&G Annuities & Life's earnings per share?
F&G Annuities & Life earned $3.62 per diluted share in fiscal 2025, compared with $4.30 a year earlier.
When will F&G Annuities & Life report its next earnings?
F&G Annuities & Life is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does F&G Annuities & Life's fiscal year end?
F&G Annuities & Life's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.