F&G Annuities & Life Inc. (FG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of F&G Annuities & Life Inc. $27.42, price $21.69, upside +26.4%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
46‑month range $13.67 – $46.34 · fair‑value band $27.12 – $27.42 · the $21.69 price screens below the $27.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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F&G Annuities & Life, Inc., together with its subsidiaries, provides annuity and life insurance products in the United States.
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F&G Annuities & Life, Inc., together with its subsidiaries, provides annuity and life insurance products in the United States. It offers fixed indexed annuities registered index-linked annuities, pension risk transfer and indexed universal life, and multi-year guarantee annuities; immediate annuities; indexed universal life insurance; pension risk transfer solutions; and institutional funding agreements. The company distributes its products through independent agents, banks, and broker-dealers to retail annuity and life customers, as well as institutional clients. The company was founded in 1959 and is headquartered in Des Moines, Iowa. F&G Annuities & Life, Inc. operates as a subsidiary of Fidelity National Financial, Inc.
Stock analysis
F&G Annuities & Life Inc. (FG) currently trades at $21.69, while our model-based Fair Value estimate is $27.42, implying the stock looks roughly 20.9% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $28.51 per share, and 4 of the 6 models we run sit above the $21.69 price.
Bear case: the Dividend Discount group reads lowest at $15.64, and 2 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: $27.12 (bear) to $27.42 (bull), the price of $21.69 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
F&G Annuities & Life Inc. reported revenue of $5.7B in FY2025 versus $3.4B in FY2021, a compound +14.1%/yr. Reported net income was $265M in FY2025, compounding −32.0%/yr from FY2021.
Key figures
Market cap $4.3B · P/E ratio 5.4 · P/S ratio 0.25 · EPS (TTM) $4.02 · Dividend yield 4.5% · Net margin 4.6% · Return on equity 11.7% · Return on assets (EBIT) 1.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 26%, FG screens cheaper than that median.
Fair Value models
Bear $27.12Fair Value $27.42Bull $27.42
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.23 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+36.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+32.0%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+159.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−37.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−42.4%
Dividend (yield on the price)4.5%
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 6%
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Compare F&G Annuities & Life Inc. with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Life · 95 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+26% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets1% · Bottom 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)31% · Above median
Growth and dividend
Revenue growth31% · Top 25%
Dividend yield (TTM)4.5% · Above median
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Insurance - Life median · lower = cheaper
P/E (TTM)5.4× · Cheapest 25%
P/B0.89× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "F&G Annuities & Life Inc. Fair Value". https://www.fairvalue-calculator.com/stock/FG
Frequently asked questions
Is F&G Annuities & Life Inc. (FG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $27.42 versus a price of $21.69, about +26% upside (undervalued).
What is the fair value of FG?
Our model-based fair value for F&G Annuities & Life Inc. is $27.42 (as of Sep 24, 2026), built from audited fundamentals. The current price: $21.69.
What is the quality score of FG?
F&G Annuities & Life Inc. has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for F&G Annuities & Life Inc. (FG)?
Our model-based price target is the fair value of $27.42 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario $27.12, optimistic scenario $27.42. It is a calculation from audited fundamentals, not an analyst target.
What is the F&G Annuities & Life Inc. stock forecast for 2026?
Our models put fair value at $27.42, about +26% upside versus a price of $21.69 (undervalued). Cautious scenario $27.12, optimistic scenario $27.42. The calculation is refreshed regularly with new filings.
What is the revenue of F&G Annuities & Life Inc. (FG)?
F&G Annuities & Life Inc. reported trailing-twelve-month revenue of about $6.0B (latest available figure, as of Sep 24, 2026).
Does F&G Annuities & Life Inc. pay a dividend?
F&G Annuities & Life Inc. currently shows a dividend yield of about 4.47% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of F&G Annuities & Life Inc. (FG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For F&G Annuities & Life Inc. it is $27.42 per share (as of Sep 24, 2026), against a price of $21.69. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is F&G Annuities & Life Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, FG trades below its calculated fair value: price $21.69, fair value $27.42, a gap of about +26% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FG?
No. The price is what the market pays today ($21.69); the fair value is what the company's own numbers justify ($27.42). For F&G Annuities & Life Inc. the two are $5.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is F&G Annuities & Life Inc. worth?
The market values F&G Annuities & Life Inc. at about $4.3B (market capitalisation, as of Sep 24, 2026). Per share that is $21.69; our models calculate a fair value of $27.42 per share.
What do the bullish and bearish scenarios say about FG?
Our models span a range for F&G Annuities & Life Inc.: cautious scenario $27.12, base $27.42, optimistic $27.42 per share (as of Sep 24, 2026, price $21.69). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FG?
F&G Annuities & Life Inc. trades at a price-to-earnings ratio of 5.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.42 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.7, EV/EBITDA 5.4.
How solid is the balance sheet of F&G Annuities & Life Inc. (FG)?
Balance-sheet figures for F&G Annuities & Life Inc. (as of Sep 24, 2026): return on equity 11.7%, debt of 0.47 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is FG from its 52-week high?
F&G Annuities & Life Inc. trades at $21.69, about 36% below its 52-week high of $33.99 and 7% above the low of $20.28 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $27.42 is for.
Which stocks are comparable to F&G Annuities & Life Inc.?
From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) Company, AIA Group, Manulife Financial Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is F&G Annuities & Life Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price $21.69, calculated fair value $27.42 (+26%), Quality Score 44/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FG calculated?
We run F&G Annuities & Life Inc. through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $27.42, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. F&G Annuities & Life Inc. currently trades 26 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of F&G Annuities & Life Inc. (FG)?
The closing price on Sep 23, 2026 was $21.69. Our model-based fair value is $27.42, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with F&G Annuities & Life Inc. right now?
The price is below even our cautious bear case ($27.12). The market is more pessimistic than our downside scenario. The models converge in a tight band ($27.12 to $27.42), unusually little disagreement for a valuation. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of F&G Annuities & Life Inc.
How large is the market capitalisation of F&G Annuities & Life Inc. (FG)?
The market capitalisation of F&G Annuities & Life Inc. is $4.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of F&G Annuities & Life Inc. (FG)?
The price-to-sales ratio of F&G Annuities & Life Inc. is 0.25 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of F&G Annuities & Life Inc. (FG)?
Earnings per share at F&G Annuities & Life Inc. are $4.02 (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of F&G Annuities & Life Inc. (FG)?
The dividend yield of F&G Annuities & Life Inc. is 4.5% (payout 24.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of F&G Annuities & Life Inc. (FG)?
The net margin of F&G Annuities & Life Inc. is 4.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of F&G Annuities & Life Inc. (FG)?
The return on equity (ROE) of F&G Annuities & Life Inc. is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of F&G Annuities & Life Inc. (FG)?
On an EBIT basis the return on assets of F&G Annuities & Life Inc. is 1.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of F&G Annuities & Life Inc. (FG)?
The operating margin of F&G Annuities & Life Inc. is 30.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at F&G Annuities & Life Inc. (FG)?
Revenue at F&G Annuities & Life Inc. is growing +30.7% versus a year earlier (3y avg +36.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at F&G Annuities & Life Inc. (FG)?
Earnings per share at F&G Annuities & Life Inc. are growing −64.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does F&G Annuities & Life Inc. (FG) generate?
The free cash flow of F&G Annuities & Life Inc. is $4.7B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does F&G Annuities & Life Inc. (FG) carry?
The net debt of F&G Annuities & Life Inc. is $751M (fiscal year 2025, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 24, 2026