Corebridge Financial Inc CRBD

FinancialsInsuranceUnited States of America

Last close 20.60 USD on Nov 1, 2026, −6.6% year to date

Quant rating

Quant rating C Rank 446 of 799 in Financials

Growth B 153 of 799
Valuation B 315 of 799
Quality C 343 of 799
Revisions C 323 of 799
Momentum D 706 of 799

Wall Street consensus Buy (2.00)Average target 39.18 USD +90.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 15.5B
Enterprise value: 27.2B
52-week range: 19.74 – 25.10
3-year range: 19.74 – 25.60
Dividend yield: 7.74%
Beta (5 years): –
Shares outstanding: 446M
Next earnings: Nov 2, 2026

About the company

Corebridge Financial, Inc. is a provider of retirement solutions and insurance products in the United States. The Company partners with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. Its Individual Retirement segment consists of fixed annuities, fixed index annuities, and registered index-linked annuities. Its Group Retirement segment consists of recordkeeping, plan administrative and compliance services, financial planning and advisory solutions offered in-plan, along with proprietary and limited non-proprietary annuities, advisory and brokerage products offered out-of-plan. Its Life Insurance segment consists of term and universal life insurance products in the United States. Its Institutional Markets segment consists of stable value wrap (SVW) products, structured settlement and pension risk transfer (PRT) annuities, guaranteed investment contracts (GICs) and corporate markets products.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	8,597	7,427	10,410	8,005	8,658	–
Revenue growth	15.8%	−28.7%	30.0%	−7.5%	20.0%	3.6%
EPS (basic, normalized)	4.42	4.83	4.10	2.87	–	–
EPS growth	−8.5%	17.8%	42.9%	–	–	–
Gross margin	–	–	–	–	–	–
Net margin	−2.1%	12.5%	6.2%	34.5%	37.3%	17.7%
ROE	19.8%	24.9%	26.5%	10.5%	–	20.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	10,870
Net debt (mil)	–
Total equity (mil)	10,651
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	8,597	+15.8%	3.2x	25.60	−19.0%	0.8x	4.42	−8.5%	4.7x
2026	19,415	+125.8%	1.4x	32.01	+25.0%	0.6x	4.57	+3.4%	4.5x
2027	21,235	+9.4%	1.3x	36.13	+12.9%	0.6x	5.72	+25.1%	3.6x
2028	22,683	+6.8%	1.2x	42.51	+17.7%	0.5x	6.58	+15.0%	3.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	19,415	−1.1%	−2.8%	−7.8%	4.57	−0.6%	+1.3%	−6.5%
2027	21,235	−0.9%	−3.1%	−5.0%	5.72	−0.6%	−0.8%	−2.3%
2028	22,683	+0.1%	−1.1%	−2.4%	6.58	−0.7%	−1.2%	−2.0%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	5,853	4,176	4,533	5,016	4,736	4,420	5,626	6,341	4,085	4,296
Sales mean (mil)	5,440	5,763	5,668	5,777	5,272	4,892	4,766	5,054	4,842	4,385
Surprise	+7.6%	−27.5%	−20.0%	−13.2%	−10.2%	−9.7%	+18.1%	+25.5%	−15.6%	−2.0%
EPS reported	1.10	1.13	1.38	1.23	1.16	1.36	0.96	1.22	1.05	1.12
EPS mean	1.06	1.09	1.17	1.20	1.14	1.15	1.09	1.11	1.04	1.09
Surprise	+3.6%	+3.3%	+18.2%	+2.7%	+1.5%	+17.9%	−12.1%	+10.0%	+1.3%	+2.6%

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
CRBD Corebridge Financial Inc	15.5B	19.8%	−2.1%	1.46x	4.5x	3.6x	0.6x	0.6x
PZAKY PZU SA	15.9B	19.8%	11.6%	1.81x	9.3x	8.7x	1.5x	1.4x
AMIGY Admiral Group PLC	15.8B	53.0%	14.5%	7.92x	16.3x	14.4x	7.6x	6.4x
CRBG Corebridge Financial Inc	15.5B	19.8%	−2.1%	1.46x	7.6x	6.1x	1.1x	1.0x
EG Everest Group, Ltd.	15.4B	12.8%	9.0%	1.03x	7.8x	6.8x	1.0x	0.9x
TDHOY T&D Holdings, Inc.	15.1B	9.2%	4.3%	1.40x	7.9x	5.8x	0.7x	0.7x
Mean		22.4%	5.9%	2.51x	8.9x	7.5x	2.1x	1.8x
Median		19.8%	6.7%	1.46x	7.9x	6.4x	1.1x	0.9x

Technical analysis

1M−0.4%
3M−5.5%
1Y−11.0%
3Y−8.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Corebridge Financial Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	8,597	7,427	10,410	8,005	8,658	7,215
Other revenue	9,166	10,345	7,506	15,667	13,424	6,775
Total revenue	17,763	17,772	17,916	23,672	22,082	13,990
Losses, benefits and adjustments	9,001	7,506	10,211	7,554	8,332	7,522
Amortization of policy acquisition costs	1,050	1,060	1,042	1,020	951	543
Selling, general & administrative expenses	5,933	5,240	4,427	3,732	3,562	3,528
Interest expense (income), operating	–	–	–	–	–	–
Other operating expenses	1,768	609	716	341	−2,406	1,056
Operating income	11.0	3,357	1,520	11,025	11,643	1,341
Net interest income (expense)	−552	−554	−580	−534	−389	−490
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−541	2,803	940	10,491	11,254	851
Provision for taxes	−151	600	−96.0	2,012	2,082	−15.0
Minority interest	24.0	27.0	68.0	−320	−929	−224
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−366	2,230	1,104	8,159	8,243	642
Extraordinary items	–	–	–	–	–	–
Net income	−366	2,230	1,104	8,159	8,243	642
Basic weighted average shares (mil)	539	598	643	646	645	645
Diluted weighted average shares (mil)	539	599	645	647	645	645
Basic EPS, normalized	4.42	4.83	4.10	2.87	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Corebridge Financial Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	79.0	75.0	20.0	36.0	51.0	63.0
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Insurance receivables	–	–	–	–	–	–
Long-term investments	267,646	245,090	233,540	220,912	256,318	260,274
Note receivable	–	–	–	–	–	–
Other long-term assets	7,473	8,115	10,827	8,843	4,837	3,640
Deferred policy acquisition costs	8,885	10,293	10,011	10,563	8,058	7,363
Other assets	129,017	125,018	124,260	119,416	146,411	138,161
Total assets	413,547	389,397	379,270	360,322	416,212	410,155
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	80.0	80.0	26.0	43.0	66.0	81.0
Policy liabilities	372,039	351,019	338,982	320,865	361,701	349,123
Short-term debt	0	1,101	250	1,500	8,317	0
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	10,906	11,291	11,622	13,826	7,363	11,246
Minority interest	759	864	869	939	1,842	2,600
Other liabilities	16,562	13,580	15,755	13,769	9,837	9,873
Total liabilities	400,346	377,935	367,504	350,942	389,126	372,923
Shareholders' equity
Preferred stock	493	–	–	–	–	–
Common stock	7.0	7.0	6.0	6.0	6.0	6.0
Additional paid-in capital	8,162	8,161	8,149	8,030	8,054	–
Retained earnings (accumulated deficit)	18,373	19,257	17,572	18,207	8,859	22,573
Treasury stock	−4,382	−2,282	−503	–	–	–
Other equity	−9,452	−13,681	−13,458	−16,863	10,167	14,653
Total equity	13,201	11,462	11,766	9,380	27,086	37,232
Total liabilities & shareholders' equity	413,547	389,397	379,270	360,322	416,212	410,155

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Corebridge Financial Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−390	2,203	1,036	8,479	9,172	866
Depreciation, depletion & amortization	556	193	366	585	413	325
Deferred taxes	–	–	–	–	–	–
Non-cash items	1,867	−72.0	850	−688	−4,684	−81.0
Changes in working capital	−12.0	−173	1,102	−5,755	−2,496	2,217
Cash from operations	2,021	2,151	3,354	2,621	2,405	3,327
Investing activities
Capital expenditures	–	–	–	–	–	–
Other investing cash flows	−13,332	−11,536	−5,476	−7,253	−1,967	−7,909
Cash from investing	−13,332	−11,536	−5,476	−7,253	−1,967	−7,909
Financing activities
Financing cash flow items	13,123	11,020	5,202	5,828	151	4,168
Cash dividends paid	−511	−544	−1,722	−876	0	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,673	−896	−1,366	−278	−904	498
Cash from financing	10,939	9,580	2,114	4,674	−753	4,666
Foreign exchange effects	1.0	1.0	3.0	−10.0	−2.0	7.0
Net change in cash	−371	196	−8.0	32.0	−317	91.0
Free cash flow	2,021	2,151	3,354	2,621	2,405	3,327

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.