What is F&G Annuities & Life's return on invested capital?

F&G Annuities & Life (FG) reported return on invested capital of 2.1% in Q4 2023.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

F&G Annuities & Life FG Return on invested capital

Return on invested capital at other companies

Prudential FinancialPRU

10.2%+0.8pp

Fidelity National FinancialFNF

11.4%-5.5pp

Brighthouse FinancialBHF

-4.2%-21.2pp

Jackson FinancialJXN

-5.3%-7.5pp

American International GroupAIG

6.6%+1.5pp

Corebridge FinancialCRBG

——

Other financials

Income statement

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Revenue$1.2B+30.7%

Net income$248.0M+1,281%

EPS (diluted)$1.78+990%

Balance sheet

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Cash & equivalents$1.3B-59.8%

Total debt$2.2B+0.3%

Total equity$4.6B+6.3%

Total assets$101.03B+14.8%

Cash flow

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Operating cash flow$743.0M-22.3%

Valuation

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Market cap$3.69B-29.3%

Profitability

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Net margin8.9%-1.0pp

Returns & leverage

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Return on equity11.9%-0.9pp

Debt / equity0.5×0.0×

Where this comes from

Calculated from F&G Annuities & Life’s reported figures.

nopat/invested capital=2.1%

Based on trailing twelve months.

The official record: F&G Annuities & Life’s 10-Q, filed November 10, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is F&G Annuities & Life's return on invested capital?: F&G Annuities & Life (FG) reported return on invested capital of 2.1% in Q4 2023.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.