| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 22.2x | 17.3x | Top tier | |
Growth | 59 | 29.9% | 7.1% | Around median | |
Quality | 48 | — | — | Around median | |
Safety | 8 | — | — | Bottom tier | |
Capital Return | 97 | 2.56% | 0.06% | Top tier | |
Momentum | 88 | 9.4% | -1.6% | Top tier | |
Sentiment | 76 | 10 | 3 | Top tier |
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Corebridge Financial operates in retirement solutions, life insurance, and institutional markets, generating income from spreads between its investments and product liabilities, fees on assets under management and administration, and insurance underwriting results. Its businesses include individual retirement, group retirement, life insurance, guaranteed investment contracts GIC, and pension risk transfer PRT. Its performance therefore depends on its ability to price liabilities, invest the assets backing them, and allocate capital across products based on risk-adjusted returns.
In quarter 2 of fiscal year 2026, ended 2026-06-30, adjusted pre-tax operating income was $664 million, and adjusted earnings per share were $1.12. Base sources of income, excluding variable investment income, grew 5% compared with the same quarter of the previous fiscal year, with spread income growing 4%, fee income growing 15%, and the underwriting margin declining 1%. Adjusted return on equity was 11.4%, while weak alternative investments limited the benefit that reported earnings received from improvements in core operations; these are adjusted measures that differ from accounting net income.
Sales in quarter 2 of fiscal year 2026, ended 2026-06-30, illustrate the different business drivers: individual retirement recorded $3.8 billion, institutional markets $2.6 billion, including GIC issuance of $1.8 billion, and life insurance $870 million; these are product sales, not a breakdown of accounting revenue. For fiscal year 2025, ended 2025-12-31, revenue was $18.5 billion and the net loss was $366.0 million, compared with revenue of $18.7 billion and net income of $2.2 billion in fiscal year 2024, ended 2024-12-31. This comparison tests whether improvements in adjusted operating performance can translate into sustainable accounting profitability.
When: 2026-11-02
Growth in base sources of income compared with the 5% level in the earnings announcement
Fee income growth compared with the 15% level in the earnings announcement
When:
The median analyst price target is $40 within a range of $36 to $45 from 4 analysts, a low-confidence indicative estimate reflecting expectations for growth and future performance, with analyst targets tending toward optimism. The industry-multiple valuation is $23 within a range of $15 to $57, based on book value and a median multiple of 1.0 across 126 companies, measuring Corebridge's value if its book assets were priced in line with peers. Analyst targets fall within the wide range of the industry method, but their median exceeds the central valuation of $23; the difference reflects the pricing of growth expectations in the targets versus the pricing of the book-value base at the peer multiple. Barclays raising its target to $39 on 2026-10-07 and UBS to $36 on 2026-10-06 is consistent with improving expectations, without eliminating the divergence between the two methods.
Figures in the text are as of 2026-10-19; the live price is shown at the top of the page.
Corebridge combines individual retirement, group retirement, life insurance, and institutional markets, earning income from investment spreads, fees, and underwriting results. In quarter 2 of fiscal year 2026, ended 2026-06-30, spread income increased 4% and fee income increased 15% compared with the same quarter of the previous fiscal year. Individual retirement sales were $3.8 billion and institutional markets sales were $2.6 billion during the same period, illustrating the importance of insurance and retirement products alongside asset management.
On 2026-08-05, management announced shareholder approval of the merger, with closing expected by the end of 2026. The combined company targets earnings of $5 billion, cash generation of $4 billion, and a return on equity exceeding 15% in 2027, supported by targeted cost savings of $500 million. Opportunities identified by management include expanding the PRT business, benefiting from AllianceBernstein's asset management capabilities, and making the variable universal life insurance product VUL available through Corebridge's distribution. Realizing these benefits remains dependent on completing the transaction and executing the integration, and these figures are not achieved results for the standalone company.
Automated analysis for informational purposes only — not investment advice.
Individual retirement base spread income at the $2.55 billion guidance level
When: Second half of fiscal year 2026
Execution of approximately $350 million in share repurchases
In quarter 2 of fiscal year 2026, ended 2026-06-30, base sources of income grew 5% compared with the same quarter of the previous fiscal year, but variable investment income fell below long-term expectations. Management explained on 2026-08-05 that lower private equity fund valuations, weakness in the software sector, and a backlog of exits limited the realization of gains that could offset valuation declines. Alternative investments represent less than 3% of the balance sheet according to management, but it expected variable investment returns to remain below target during the second half of fiscal year 2026.
In quarter 2 of fiscal year 2026, ended 2026-06-30, wealth management assets in group retirement reached $20 billion, increasing 18% compared with the same quarter of the previous fiscal year, and fee income increased 15%. However, the segment's adjusted pre-tax operating income, excluding variable investment income and notable items, declined 7% as spread income fell and expenses rose. On 2026-08-05, management identified a $30 billion growth opportunity from IRA rollovers and consolidating client assets, an opportunity the company is targeting rather than realized sales.
Corebridge returned $412 million to shareholders in quarter 2 of fiscal year 2026, ended 2026-06-30, including $300 million in share repurchases. The adjusted capital return ratio from the beginning of fiscal year 2026 through the end of that quarter was 84%, excluding proceeds from the previous variable annuity reinsurance transaction from this measure. On the 2026-08-05 call, management confirmed a target of approximately $350 million in repurchases during the second half of fiscal year 2026. Assessing the sustainability of this policy depends on cash generation, capital needs, and execution of the merger.