UTG, Inc.

UTG, Inc. reported total revenues of $42.3 million for FY 2025, down from $84.9 million in 2024, primarily due to lower net investment gains of $23.4 million compared to $63.3 million prior year, driven by a $21.6 million change in fair value of equity securities versus $56.8 million. Revenue before net investment gains was stable at $19.0 million. Net income attributable to common shareholders was $17.1 million, or $5 per basic and diluted share, versus $50.0 million or $15.80 per share in 2024. Income before taxes fell to $21.9 million from $63.1 million, with total benefits and expenses at $20.5 million slightly below $21.8 million prior year. Balance sheet showed total assets of $491.4 million, up from prior periods implied growth, with investments at $430.7 million (88% of assets) and shareholders' equity at $232.7 million. Cash flows reflected net operating use of $6.5 million, investing use of $6.9 million, and financing use of $1.3 million, leading to a $14.7 million cash decrease to $30.5 million end balance. Strong investment portfolio and insurance focus support stability, though volatility in equity gains poses risks.

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