# Corebridge Financial, Inc. (CRBG) — Stock CV

Corebridge Financial, Inc. is a $15.2B financial services company. Revenue grew 28.6% over the last year, and it keeps 5¢ of every dollar of sales as profit. It trades at 16.8× earnings — in the most expensive third of its own history.

> Corebridge Financial Inc provides retirement solutions and insurance products in the United States, offering fixed, fixed index, and registered index-linked annuities with optional benefits, including lifetime income guarantees and death benefits, distributed through an extensive platform.

## Identity

- **Ticker**: CRBG
- **Sector**: Financial Services
- **Industry**: Life Insurance
- **Headquarters**: HOUSTON, TX
- **Employees**: 4 800
- **Website**: https://www.corebridgefinancial.com
- **Market cap**: $15.2B
- **Last price**: $34.09
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $20.0B
- **Net income**: $907M
- **Free cash flow**: $1.85B
- **Net cash**: $4.13B
- **P/E**: 16.8
- **Revenue growth (YoY)**: 28.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 75 |
| Growth | 25 |
| Profitability | 23 |
| Health | 31 |
| Quality | 36 |
| Moat | 18 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +28.6% YoY
- [x] Profitable — $907M TTM
- [ ] Profit growing — -116.4% YoY
- [x] Generates cash — $1.85B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $15.2B market cap
- [x] Not printing shares — -16.4% shares over ~5y
- [ ] Proven track record — 4/5 profitable years
- [ ] Financially stable — Altman Z 0.1 — distress
- [x] Pays a dividend — yield 3.23%
- [x] Valuation not extreme — P/E 16.8

## Experience (career milestones)

- **Q4 2026** — 6 open-market insider purchases: ~1.2M shares bought by insiders
- **Q3 2026** — 9 open-market insider purchases: ~1.9M shares bought by insiders
- **2026** — Corebridge Financial announced a merger with Equitable Holdings through an all-stock merger worth $22…
- **Dec 31, 2025** — Nippon became the company's largest shareholder, with a 24.6% stake
- **FY2024** — Became debt-free: cash now exceeds total debt
- **2024** — Nippon Life Insurance Company acquired an equity interest in Corebridge Financial from AIG
- **Sep 15, 2022** — The new company was launched on September 15, 2022, in the largest IPO of 2022 to date
- **2022** — Corebridge was formed by an AIG spin-off of the company via IPO in 2022
- **FY2021** — First recorded profitable year: $8.24B net income
- **FY2021** — Revenue already above $10B: $22.9B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **FY2021** — Best year on record: $8.24B net income
- **2021** — The company announced that Blackstone Group would acquire 9.9% of the new unit for $2.2 billion cash
- **2020** — AIG announced plans to perform the spin-off with a 2022 IPO
- **2003** — Old Line Life Insurance merged with American General
- **2001** — It was announced that American General would be acquired by Prudential plc in a deal worth $26.6 billion
- **1983** — American General acquired Gulf United's insurance operations

## Strengths

- Revenue growing 28.6% year over year
- Net cash position after subtracting debt from cash

## Watch-outs

- Altman Z-Score 0.09 — elevated financial-distress risk
- Thin interest coverage (0.0×)
- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $22.9B | $8.24B | $2.40B |
| FY2022 | $26.7B | $8.15B | $2.69B |
| FY2023 | $18.9B | $1.10B | $3.36B |
| FY2024 | $18.8B | $2.23B | $2.15B |
| FY2025 | $18.5B | -$366M | $2.02B |

---

Source: https://stockcv.com/CRBG — derived from company filings; may be delayed or incomplete. Information, not investment advice.