Corebridge Financial reported a net loss of $16 million, or $0.04 per share, for Q2 2026. However, the company posted adjusted after-tax operating income of $512 million, with operating earnings of $1.12 per share. Premiums and deposits reached $9.1 billion. The company returned $412 million to shareholders, including $300 million in share repurchases. Holding company liquidity stood at $1.4 billion. Corebridge declared a quarterly dividend of $0.25 per share, payable on 30 September to shareholders of record as of 16 September. CEO Marc Costantini highlighted strong earnings and resilient sales. On 30 July, shareholders approved Corebridge's merger with Equitable Holdings. The company is now focused on executing the merger roadmap.

Zscaler holds a net cash position of $1.67 billion, representing 7% of its market cap. The company pioneered the "zero trust" approach and provides cloud-based security platforms connecting users, devices, and applications without traditional network-based security hardware. Two companies face more challenging positions. Equitable Holdings has $5.77 billion in net cash but experienced revenue growth of just 2.5% over five years. Its pre-tax profit margin fell by 13.3 percentage points over two years. First American Financial holds $41.8 million in net cash. The title insurance provider saw net premiums earned contract by 1.9% annually over five years, whilst book value per share grew only 2.8% annually during that period.

Equitable Holdings (EQH) has raised $120 million at a $1.45 billion valuation in a Series C round led by Ribbit Capital, with participation from Sequoia, Kleiner Perkins and new backer Emerson Collective. The stock has posted mixed returns, down 11% year-to-date and 16% over the past year, whilst showing gains over the past month and three months. Recent short-term momentum suggests improvement following a weaker period. Valuation signals are conflicting. The most followed analyst narrative suggests EQH is 26.5% undervalued with a fair value of $57.92, citing strategic capital actions and share repurchases. However, a discounted cash flow model indicates the stock trades well above its estimated cash generation value of $2.68, creating tension over which valuation framework is more realistic.