American National Group Inc. ANG-PD
American National Group Inc., together with its subsidiaries (collectively, "ANGI", "we", "our", "us", or the "Company"), is focused on being a source of certainty for individuals and institutions through a range of insurance and retirement services. Our business is presently conducted through our subsidiaries under two operating segments, which we refer to as our Annuities and Life Insurance segments. We conduct our business in 50 states, the District of Columbia, Bermuda, Guam, and Puerto Rico. Throughout this report, unless otherwise specified or the context otherwise requires, all references to "ANGI", the "Company", "we", "our" and similar references are to American National Group Inc. and its consolidated subsidiaries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.49B | $7.52B | $3.40B | $1.41B | $3.69B | $2.42B | $3.46B | $1.55B | $3.89B | $2.22B |
| Total operating expenses | $725.0M | $701.0M | $430.0M | — | — | — | — | — | — | — |
| Interest expense | $183.0M | $165.0M | $99.0M | — | — | — | — | — | — | — |
| Pre-tax income | $394.0M | $370.0M | $452.0M | $2.43B | $702.8M | $816.0M | $315.6M | $565.7M | $316.3M | $130.2M |
| Income tax | $20.0M | $199.0M | $43.0M | $511.1M | $149.8M | $144.5M | $69.5M | $107.7M | $141.6M | $47.0M |
| Net income | $533.0M | $729.0M | $392.0M | $1.92B | $553.0M | $671.5M | $246.1M | $458.0M | $174.6M | $83.2M |
| EPS, basic | — | — | 2.10 | 20.72 | 5.43 | 6.93 | 2.70 | 5.07 | 1.96 | 0.98 |
| EPS, diluted | — | — | 2.06 | 20.50 | 5.39 | 6.90 | 2.68 | 5.01 | 1.93 | 0.97 |
| Shares, diluted (wtd. avg.) | — | — | $81.0M | $91.5M | $94.5M | $92.4M | $91.8M | $91.4M | $90.3M | $85.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $11.66B | $10.87B | $3.05B | $1.39B | $1.93B | $9.10B | $2.29B | $344.4M | $1.43B | $791.3M |
| Short-term investments | $600.0M | $4.18B | $2.40B | — | — | — | — | — | — | — |
| Goodwill | $748.0M | $748.0M | $86.0M | $86.0M | $44.0M | — | — | — | — | — |
| Other intangibles | $1.50B | $1.53B | $44.0M | — | — | — | — | — | — | — |
| Total assets | $130.26B | $121.22B | $35.88B | $73.18B | $78.35B | $71.69B | $69.70B | $61.63B | $62.03B | $56.05B |
| Long-term debt | $2.95B | $2.96B | $1.49B | — | — | — | — | — | — | — |
| Total liabilities | $120.59B | $111.19B | $29.99B | $70.81B | $72.03B | $65.34B | $65.13B | $59.23B | $59.18B | $53.76B |
| Retained earnings | $1.76B | $1.36B | $716.0M | $4.69B | $2.77B | $2.37B | $1.77B | $1.55B | $1.24B | $1.09B |
| Total equity | $9.67B | $10.03B | $5.90B | $3.75B | $7.00B | $6.35B | $4.43B | $2.40B | $2.85B | $2.29B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.78B | $2.52B | $1.19B | $2.04B | $4.23B | $1.30B | $3.35B | $43.2M | $1.92B | $1.42B |
| Depreciation and amortisation | $170.0M | $76.0M | $19.0M | — | — | — | — | — | — | — |
| Stock-based compensation | — | — | $29.3M | $15.8M | $24.6M | $10.2M | $11.3M | $11.1M | $6.5M | $6.7M |
| Capital expenditure | $61.0M | $37.0M | $133.0M | $41.0M | $18.1M | $13.2M | $4.0M | $4.3M | $4.8M | $1.2M |
| Investing cash flow | -$9.75B | $2.52B | -$1.30B | -$2.45B | -$6.22B | $5.13B | -$3.05B | -$2.41B | -$2.59B | -$4.50B |
| Financing cash flow | $7.29B | $3.10B | $1.92B | -$2.18B | -$2.60B | $362.5M | $1.65B | $1.28B | $1.31B | $3.48B |
| Dividends paid | $49.0M | $33.0M | $750.0M | $30.2M | $31.4M | $28.9M | $27.3M | $25.3M | $23.1M | $21.1M |
| Buybacks | — | — | $309.4M | $566.6M | $99.4M | $165.1M | $0 | $0 | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001039828-26-000004.
Others in SIC 6311
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MET | METLIFE INC | $62.04B | 20.7x | 8.5% |
| PRU | PRUDENTIAL FINANCIAL INC | $42.10B | 12.2x | -13.7% |
| RGA | REINSURANCE GROUP OF AMERICA INC | $16.54B | 14.3x | 7.2% |
| CRBG | Corebridge Financial, Inc. | $15.37B | — | -1.2% |
| GL | GLOBE LIFE INC. | $13.39B | 12.4x | 3.7% |
| JXN | Jackson Financial Inc. | $9.52B | — | 104.3% |
| VOYA | Voya Financial, Inc. | $9.43B | 16.5x | 4.9% |
| PRI | Primerica, Inc. | $9.10B | 12.9x | 6.6% |