Corebridge Financial Intrinsic Value – COREBRIDGE FINANCIAL Reports Second Quarter Earnings Results for FY 2023
August 12, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023 (ending June 30, 2023), COREBRIDGE FINANCIAL ($NYSE:CRBG) reported total revenue of USD 6.0 billion, which was 11.7% lower than the same quarter in the prior year. Net income for the quarter decreased by 70.3% to USD 0.77 billion, compared to the year-ago period.
Share Price
On Friday, COREBRIDGE FINANCIAL reported second quarter earnings results for the financial year ending 2023. The company’s stock opened at $19.6 and closed at $19.5, up by 0.1% from its previous closing price of $19.5. Despite the positive financial results, COREBRIDGE FINANCIAL’s stock price remained largely unchanged in response to the report.
This could be partly attributed to investors remaining cautious in anticipation of the company’s next quarter results. Overall, while COREBRIDGE FINANCIAL has demonstrated positive financial performance in the second quarter of FY 2023, further growth will depend on its performance in the subsequent quarters of the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Corebridge Financial. More…
| Total Revenues | Net Income | Net Margin |
| 22.48k | 2.5k | 10.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Corebridge Financial. More…
| Operations | Investing | Financing |
| 3.73k | -5.69k | 2.22k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Corebridge Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 367.47k | 356k | 16.61 |
Key Ratios Snapshot
Some of the financial key ratios for Corebridge Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 26.4% | – | 16.5% |
| FCF Margin | ROE | ROA |
| 16.6% | 21.0% | 0.6% |
Analysis – Corebridge Financial Intrinsic Value
GoodWhale has conducted an analysis of COREBRIDGE FINANCIAL‘s wellbeing, and based on our proprietary Valuation Line we have calculated that the fair value of their shares is around $17.5. However, the stock is currently trading at $19.5, making it overvalued by 11.6%. We believe that this represents a good opportunity for investors to buy in at a fair price. More…
Peers
Corebridge Financial Inc is one of the leading players in the global financial services industry, competing with other major companies such as Union Financière de France Banque, Legal & General Group PLC, and Principal Financial Group Inc. The competition between these companies is fierce, as they all strive to provide the best financial services and products to their customers.
– Union Financière de France Banque ($LSE:LGEN)
Legal & General Group PLC is a multinational financial services company based in the United Kingdom. Founded in 1836, it is one of the oldest and most respected providers of life insurance, pensions, investments, and general insurance products. As of 2023, Legal & General Group PLC has a market capitalization of 13.7 billion pounds. This market capitalization reflects the company’s strong reputation and market presence. Additionally, Legal & General Group PLC generates a healthy return on equity of 15.46%, indicating how profitable their investments and products are. With a history of over 180 years, Legal & General Group PLC continues to be a leader in the financial services industry.
– Legal & General Group PLC ($NASDAQ:PFG)
Principal Financial Group Inc is a financial services company with a market cap of 17.4 billion as of 2023. It provides asset management, retirement and insurance services to individuals and businesses around the world. Principal Financial Group Inc has an impressive Return on Equity (ROE) of 11.55%, which is significantly higher than the industry average. This indicates that the company is efficient at generating income from its shareholder’s investments, making it an attractive option for investors. Principal Financial Group Inc is an excellent choice for those seeking a reliable and long-term financial partner.
Summary
Despite a decrease in total revenue of 11.7%, COREBRIDGE FINANCIAL reported a net income of USD 0.77 billion for the second quarter of 2023. This was a significant drop from the same period in the previous year of 70.3%. Investors should monitor the company’s performance to gain insight into its profitability and assess the risk of investing in the company. Additionally, investors should look at other factors such as competitive industry trends and the macroeconomic environment to make informed decisions about their investments in COREBRIDGE FINANCIAL.
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