Filing Flows › F&G Annuities & Life (FG) › Q4 2025
F&G Annuities & Life (FG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
F&G Annuities & Life (FG) reported revenue of $1.8B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +4% from the quarter before. Operating margin was 9.1%, net earnings $128M (7.3% of revenue).
F&G Annuities & Life, Q4 2025: revenue $1.8B (+13% year over year), operating margin 9.1%, net earnings $128M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +4% | +13% |
| Operating profit | $161M | +23% | -61% |
| Net earnings | $128M | +8% | -61% |
| Operating cash flow | $1.2B | +25% | -12% |
What changed
Revenue was $1.8B in Q4 2025, up 13% year over year and up 4% from the previous quarter.
Operating profit was $0.16B, a 9.1% margin (down 17.3 points year over year). Operating profit fell $0.25B even though revenue rose $0.21B versus a year earlier, so costs grew faster than sales. Total costs grew 40% against revenue growth of 13%. Net earnings were $0.13B, down 61% year over year. The effective tax rate was 19.3%.
Operating cash flow was $1.2B (down 12% year over year), 898% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.85B.
Questions
What was F&G Annuities & Life's revenue in the fourth quarter 2025?
F&G Annuities & Life (FG) reported revenue of $1.8B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +4% from the quarter before.
Was F&G Annuities & Life profitable in the fourth quarter 2025?
Operating profit was $161M (9.1% of revenue) and net earnings $128M.