Company Overview
Corebridge Financial, Inc. operates within the Financial Services sector, specifically focusing on the Asset Management industry, where it delivers retirement solutions and insurance products across the United States. The company's operational scope is divided into distinct segments including Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets, which collectively serve a broad range of financial needs. As a publicly traded entity with the ticker CRBG, the organization employs a workforce of 4,800 individuals to support its extensive product offerings and service delivery. With a market capitalization of $10.74 billion and annual revenue of $18.62 billion, Corebridge Financial represents a significant presence in the financial landscape. These valuation figures indicate that the company commands a substantial asset base and revenue stream, positioning it as a major player capable of influencing market dynamics within the asset management and insurance sectors.
Financial Health
The company reports a Trailing Twelve Months (TTM) revenue of $18.62 billion, yet this top-line growth masks a net income of -$366,000,000, while EBITDA stands at $1.19 billion. The substantial gap between the $18.62 billion in revenue and the negative net income reveals a cost structure where operating expenses and tax provisions, or non-operating costs, are high enough to erade all pre-tax profits into a net loss. This dynamic is further reflected in the free cash flow of -$426,624,992, which suggests that the company is currently burning cash rather than generating liquidity, potentially limiting its immediate financial flexibility for capital expenditures or acquisitions. Despite the negative net income, the margin profile shows a gross margin of 15.6% and an operating margin of 15.1%, indicating that the core business operations retain a healthy portion of sales after direct costs and before general expenses. However, the profit margin stands at -2.0%, confirming that bottom-line profitability is currently compromised. On the balance sheet, the company holds $6.12 billion in cash against $15.49 billion in debt, resulting in a debt-to-equity ratio of 110.93, which signifies a highly leveraged position rather than a conservative one. Liquidity for short-term obligations is supported by a current ratio of 1.25, suggesting the company possesses sufficient current assets to cover its current liabilities. Return metrics further highlight financial challenges, with a Return on Equity of -3.0% and a Return on Assets of 0.1%, revealing that management effectiveness is currently under pressure to generate returns for shareholders and optimize asset utilization.
Valuation Assessment
Valuation multiples for Corebridge Financial show a P/E Ratio (TTM) of N/A due to the negative earnings, while the Forward P/E is listed at 3.78. The absence of a trailing P/E and the existence of a forward P/E implies that the market is pricing the stock based on anticipated future earnings recovery rather than current profitability performance. The price-to-book ratio is recorded at 0.87, indicating that the stock is trading at a discount to its book value rather than a premium. Additionally, the price-to-sales ratio is 0.58 and the EV/EBITDA stands at 18.00, which suggests the market is valuing the company based on its sales and earnings before interest, taxes, depreciation, and amortization, often a method used for capital-intensive or turnaround situations. The stock has traded between a 52-week high of $36.57 and a 52-week low of $22.19, providing a historical range for price volatility analysis. Without a specific current price listed in the facts, the valuation relative to this range cannot be calculated, but the range itself demonstrates the extent of recent price movement. The beta value is 1.01, which indicates that the stock's price volatility is roughly equivalent to the broader market, meaning it does not exhibit significantly higher or lower sensitivity to market movements compared to the average equity.
Growth & Income
Growth metrics indicate a Revenue Growth (YoY) of 5.7% while Earnings Growth (YoY) is -58.1%, showing that earnings are contracting significantly faster than revenue is expanding. This divergence implies that while top-line sales are increasing, underlying profitability is deteriorating rapidly, likely due to the negative net income and cash flow issues previously noted. Regarding income, the company offers a Dividend Yield of 4.3% with a Payout Ratio of 64.6%, though the sustainability of this payout is questionable given the negative net income and negative free cash flow. The high payout ratio in the context of losses suggests a reliance on retained earnings or other capital sources to fund the dividend rather than current operational profits. The overall growth and income profile presents a mixed picture of moderate top-line expansion offset by severe earnings contraction and a high-yield dividend that may face sustainability risks without a return to profitability.