Corebridge Financial, Inc. (CRBG) AI Stock Analysis

• Market Cap: $12.09B
• Dividend Yield: 3.14%
• Average Volume (3M): 3.91M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 25.32%
• EPS Growth: N/A
• Country: US
• Employees: 5,200
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.22
• Shares Outstanding: 481,685,880
• 10 Day Avg. Volume: 3,486,581
• 30 Day Avg. Volume: 3,905,204
• PEG Ratio: 0.38
• Price to Book (P/B): 1.23
• Price to Sales (P/S): 5.63
• P/FCF Ratio: 8.05
• Enterprise Value/Market Cap: 1.97
• Enterprise Value/Revenue: 8.24
• Enterprise Value/Gross Profit: 10.18
• Enterprise Value/Ebitda: 41.97
• 1Y Price Target: $36.89
• Price Target Upside: 39.47% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 5.14
• Revenue Forecast (FY): $21.28B

• Rating: 60 Neutral
• Price Target: $28.00 ▲(5.86% Upside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is anchored by mixed financial performance: improving leverage and solid positive cash generation are offset by high earnings volatility and a net loss in 2025. Earnings-call commentary adds support via derisking, reduced rate sensitivity, strong liquidity, and substantial capital return plans, while technicals and valuation remain more neutral-to-cautious given the stock’s position below moving averages and a negative P/E despite a moderate dividend yield.

Positive Factors

Balance-sheet derisking and improved leverage

Corebridge materially reduced structural liability risk via the multi-stage variable-annuity reinsurance and Bermuda cessions, improving leverage to ~0.71. Higher RBC (>430%) and holding-company liquidity >$2.3B increase solvency and strategic optionality for capital allocation and risk-taking over 2–6 months.

Consistent positive cash generation

Steady positive operating and free cash flow, and a 25% FCF increase in 2025, provides durable internal funding for buybacks, dividends and reinvestment. Reliable cash generation underpins capital-return programs and reduces the need for dilutive external financing over the near term.

Diversified revenue & product momentum

Strong, broad sales and product success (record $42B sales, institutional growth, RILA market penetration and rising fee income) reflect durable distribution scale and a shift toward fee-based and institutional channels. This diversification reduces reliance on volatile segments and supports steadier long-term distributable cash.

Negative Factors

High earnings volatility and 2025 net loss

Historic swings in margins and a 2025 net loss show earnings are sensitive to underwriting, market and accounting items. That volatility weakens predictability of distributable earnings, complicates capital planning and makes sustained EPS or ROE improvement less certain over the next several quarters.

Life underwriting pressure and margin compression

A pronounced decline in Life APTI and lower underwriting margins indicate elevated mortality and underwriting risk that can persistently depress earnings. Structural underwriting headwinds raise the probability of lower long-term underwriting margins and increased reserve or reinsurance needs.

Weak cash coverage of debt and funding complexity

Although cash flows are positive, low operating-cashflow-to-debt coverage (~0.22x) and recent preferred issuance signal limited cushion relative to total obligations. This constrains flexibility for large organic investments or sustained high capital returns if earnings weaken, increasing funding risk over the medium term.

Corebridge Financial, Inc. Business Overview & Revenue Model

Company Description

Corebridge Financial, Inc. provides retirement solutions and insurance products in the United States. It operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities and retail mutual funds. The Group Retirement segment offers record-keeping services, plan administration and compliance services, and financial planning and advisory solutions to employer-defined contribution plans and their participants, as well as proprietary and non-proprietary annuities, advisory services, and brokerage products. The Life Insurance segment offers term life and universal life insurance in the United States, as well as issues individual life, whole life, and group life insurance in the United Kingdom; and distributes medical insurance in Ireland. The Institutional Markets segment provides stable value wraps, structured settlement and pension risk transfer annuities, corporate and bank owned life insurance, high net worth products, and guaranteed investment contracts. The company was formerly known as SAFG Retirement Services, Inc. Corebridge Financial, Inc. was incorporated in 1998 and is headquartered in Houston, Texas. Corebridge Financial, Inc. operates as a subsidiary of American International Group, Inc.

How the Company Makes Money

Corebridge Financial generates revenue through multiple streams, including premiums from life insurance policies, fees from retirement annuities, and investment income from managed assets. The company earns significant income from the sale of various insurance products, with a focus on life and health insurance, where it collects premiums over time. Additionally, Corebridge receives fees for managing retirement accounts and investment products, which can include administrative fees, investment management fees, and performance-based fees. Strategic partnerships with financial advisors and institutions also enhance its distribution capabilities, further contributing to its earnings. The company's emphasis on customer-centric solutions and effective risk management plays a vital role in sustaining its revenue growth.

Corebridge Financial, Inc. Financial Statement Overview

Summary

Financials are mixed: leverage improved (debt-to-equity fell to ~0.71 in 2025 from ~1.08 in 2024) and operating/free cash flow stayed positive with free cash flow up ~25% in 2025. Offsetting this, profitability is highly volatile and culminated in a net loss in 2025, and cash flow coverage of debt is only middling (~0.22x operating cash flow to total debt).

Income Statement

Results are highly volatile. Revenue shows a sharp jump in 2025 (annual revenue up dramatically versus 2024), but profitability deteriorated with a net loss in 2025 and a negative net margin. Prior years show unusually strong profitability in 2022 and 2024 (very high net margins) contrasted with weak/negative gross profit in 2020–2021, suggesting earnings quality and comparability are inconsistent year to year. Overall: strong revenue momentum recently, but limited confidence due to big swings in margins and earnings.

Balance Sheet

Balance sheet looks moderately levered for the period shown. Debt-to-equity improved to ~0.71 in 2025 from ~1.08 in 2024, indicating reduced leverage, and equity remains sizable. However, returns to shareholders weakened materially with negative return on equity in 2025 after healthy positive levels in 2023–2024, reflecting the earnings downturn. Overall: leverage trend is improving, but profitability pressure raises risk if weak earnings persist.

Cash Flow

Cash generation is positive and fairly steady, with operating cash flow and free cash flow both around ~$2.0–$3.4B across most years and free cash flow up ~25% in 2025. That said, cash flow relative to debt is not especially strong in 2025 (operating cash flow covers only ~0.22x of total debt), and coverage has been inconsistent across years. Overall: solid positive cash flow, but debt coverage and year-to-year reliability are only middling.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.89B	2.68B	2.36B	1.88B	22.10B
Gross Profit	2.34B	2.12B	1.78B	1.34B	14.05B
EBITDA	567.00M	3.55B	1.89B	11.61B	11.08B
Net Income	-366.00M	2.23B	1.10B	8.16B	7.36B
Balance Sheet
Total Assets	413.55B	389.40B	379.27B	360.32B	416.21B
Cash, Cash Equivalents and Short-Term Investments	66.54B	63.92B	171.47B	161.75B	204.58B
Total Debt	10.91B	12.39B	11.87B	15.33B	15.68B
Total Liabilities	399.59B	377.07B	366.63B	350.00B	387.28B
Stockholders Equity	13.20B	11.46B	11.77B	9.38B	27.09B
Cash Flow
Free Cash Flow	2.02B	2.15B	3.36B	2.62B	2.40B
Operating Cash Flow	2.02B	2.15B	3.36B	2.62B	2.40B
Investing Cash Flow	-13.33B	-11.54B	-5.38B	-7.25B	-1.97B
Financing Cash Flow	10.94B	9.58B	2.02B	4.67B	-753.00M

Corebridge Financial, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 26.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRBG, the sentiment is Negative. The current price of 26.45 is below the 20-day moving average (MA) of 29.13, below the 50-day MA of 29.95, and below the 200-day MA of 31.67, indicating a bearish trend. The MACD of -1.22 indicates Positive momentum. The RSI at 37.12 is Neutral, neither overbought nor oversold. The STOCH value of 22.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CRBG.

Corebridge Financial, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TROW	73 Outperform	$20.06B	12.86	19.21%	4.88%	4.26%	0.42%
BEN	69 Neutral	$13.84B	12.10	4.58%	5.33%	2.31%	5.71%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
AMP	67 Neutral	$42.75B	13.05	60.51%	1.26%	5.76%	39.77%
STT	66 Neutral	$35.09B	12.09	11.07%	2.43%	5.62%	49.49%
CRBG	60 Neutral	$12.09B	-44.46	-2.97%	3.14%	25.32%	―
CG	60 Neutral	$18.66B	26.29	14.23%	2.30%	-24.62%	437.16%

Corebridge Financial, Inc. Corporate Events

Corebridge Announces $750 Million Share Repurchase from AIG

On February 12, 2026, Corebridge Financial, Inc. entered into a share repurchase agreement with American International Group, Inc., agreeing to buy back common shares at $30.42 per share, the closing price of its stock that day on the New York Stock Exchange. Subject to customary closing conditions, the company plans to complete the repurchase on February 17, 2026, for a total of about $750 million, a move that reduces AIG’s stake and signals a significant capital return to Corebridge shareholders.

The transaction underscores Corebridge’s willingness to deploy substantial capital to repurchase its own equity, which may enhance earnings per share and support its valuation in public markets. The sizeable buyback from a major shareholder also marks a further step in Corebridge’s transition away from its former parent AIG’s ownership, potentially increasing the stock’s free float and reshaping its investor base.

The most recent analyst rating on (CRBG) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.

Corebridge Finalizes Multi-Stage Variable Annuity Reinsurance Deal

On January 5, 2026, Corebridge Financial announced the completion of the final portions of its agreement with Corporate Solutions Life Reinsurance Company, an insurance subsidiary of Venerable Holdings, covering the reinsurance of all individual retirement variable annuities issued by The United States Life Insurance Company in the City of New York and the sale of its related investment adviser and manager, SunAmerica Asset Management, LLC (SAAMCo). These closings on January 1 and 2, 2026, follow the August 2025 completion of the largest component of the transaction, the reinsurance of all individual retirement variable annuities issued by American General Life Insurance Company, marking the full execution of a multi-stage deal that reshapes Corebridge’s variable annuity exposure and aligns its retirement business with Venerable’s specialized annuity platform.

The most recent analyst rating on (CRBG) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.