Stock fact sheet · data as of
F&G Annuities & Life, Inc. (FG): fair value, margin of safety and Wheel Score
Ticker symbol FG · Financial Services · Insurance - Life · United States · Value Income
Is FG undervalued?
At 22.11 (close of 5 Nov 2026), FG trades 88% below the GLS average fair value of 186.91. That average comes from 9 models run on the latest filings, and 8 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns F&G Annuities & Life, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between DDM (14.71) and 10 Cap (736.56). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, FG is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 90, growth score 51, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for FG
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 254.00 | +1049% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 50.65 | +129% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 183.92 | +732% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 80.38 | +264% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 83.17 | +276% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 736.56 | +3231% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 243.09 | +999% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 14.71 | -33% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 35.73 | +62% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -694.62 | -3242% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 24.00 | +9% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
F&G Annuities & Life, Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 1.9/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 3.8%, ROE 5.5%, ROA 0.3% - with debt at 0.47 times equity and a free-cash-flow yield of 160.1%.
The dividend yield is high at 4.52% (payout ratio 35%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Reportable 100% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 30 Sep 2026.
| Piotroski F-score | 6 / 9 | ROIC | 3.8% |
|---|---|---|---|
| GLS Moat | 1.9 / 10 | ROE | 5.5% |
| Debt / equity | 0.47 | ROA | 0.3% |
| Free-cash-flow yield | 160.1% | Payout ratio | 35% |
| Institutions | 10 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 41: Weak
With a Wheel Score of 41 F&G Annuities & Life, Inc. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (910 open interest, 362 a day); and filter 6, no serious red flags - Red Flags score 55 (under 60); Red Flags (weak) is its weakest part.
Implied volatility is 51% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 910 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 434k shares a day on a market cap of $2.9B, with a beta of 1.26 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (910 open interest, 362 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Fails | Red Flags score 55 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 88% below fair value | |
| Premium | Strong | implied volatility 51% | |
| Moat | Weak | moat 1.9/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Weak | Red Flags score 55/100 | |
| Option trading | Weak | 362 contracts a day, 910 open interest | |
| Stability | Fair | beta 1.26, $2.9B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
F&G Annuities & Life, Inc. reports earnings on 5 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Life
The 12 companies below are the closest to F&G Annuities & Life, Inc. by market cap within the Insurance - Life industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| BHFAL Brighthouse Financial, Inc. | 15.00 | 120.27 | +88% | 29No options | $2.5B |
| BHFAO Brighthouse Financial, Inc. | 12.89 | 125.14 | +90% | 29No options | $2.5B |
| BHFAN Brighthouse Financial, Inc. | 10.54 | 120.64 | +91% | 29No options | $2.5B |
| BHFAM Brighthouse Financial, Inc. | 9.37 | 118.40 | +92% | 29No options | $2.5B |
| BHF Brighthouse Financial, Inc. | 42.45 | 181.74 | +77% | 39Weak | $2.4B |
| FGN F&G Annuities & Life, Inc. | 22.80 | 173.87 | +87% | 30No options | $4.1B |
| BHFAP Brighthouse Financial, Inc. | 12.54 | 124.47 | +90% | 29No options | $2.1B |
| ATHS Athene Holding Ltd. 7.250% Fixe | 23.28 | 118.56 | +80% | 27No options | $4.5B |
| CNO CNO Financial Group, Inc. | 57.73 | 87.53 | +34% | 46Weak | $5.3B |
| PRS Prudential Financial, Inc. 5.62 | 19.78 | 150.21 | +87% | 36No options | $6.8B |
| PRH Prudential Financial, Inc. 5.95 | 21.10 | 151.61 | +86% | 35No options | $7.3B |
| MHNC Maiden Holdings North America, Ltd. | 10.95 | 28.51 | +62% | 28No options | $1.1B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about FG
Is FG undervalued right now?
By the GLS models, yes: at 22.11 the stock is 88% below the average fair value of 186.91 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FG and what does it mean?
FG scores 41 out of 100 (Weak) - it fails Wheel Trade Filters 1, 6. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FG?
186.91 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does F&G Annuities & Life, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does FG have listed options, and how liquid are they?
Yes. The nightly snapshot found 36 listed contracts with 910 open interest across all expiries and implied volatility of 51% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.