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Brighthouse Financial

BHF Nasdaq Life & Health Insurance Financials FY2016–FY2025

Brighthouse Financial's revenue rose 43.2% to $6.8 billion in fiscal 2025. Its net margin was 6.4%, down from 8.2% a year earlier. It paid out $102 million in dividends and buybacks. The diluted share count fell 5.9%.

Last close · Oct 23, 2026

$45.41

2.0%
Value it Compare
Revenue Total sales reported in the income statement.
$6.8B
43.2% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$433M
11.6%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$2.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
3.6x
On $12.53 EPS (TTM)

What Brighthouse Financial does

No business description yet.

Legal name
Brighthouse Financial, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001685040-26-000011
0001685040

Revenue and margins

Brighthouse Financial had $6.8B of revenue in fiscal 2025, up 43.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Brighthouse Financial returned $102M to shareholders in fiscal 2025. The diluted share count fell 5.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Brighthouse Financial yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $3.4B and divides by 57.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 3.6x · peers 14.7x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Brighthouse Financial can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $6.3B$5.2B$5.0B$6.9B$6.6B
Debt incl. finance leases $3.2B$3.2B$3.2B$3.2B$3.2B
Debt / equity 0.2x————
Interest coverage 13.3x31.9x−8.6x3.8x4.1x
Total assets $262.3B$224.8B$236.3B$238.5B$241.8B
Total liabilities $253.8B$219.2B$231.3B$233.5B$235.0B
Shareholders' equity $16.1B$5.5B$4.9B$5.0B$6.8B
Net debt (− = net cash) −$3.2B−$2.0B−$1.9B−$3.8B−$3.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✓ ✓
Cash from operations is positive ✕ ✕ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✕ ✕
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✓
F-score — / 9— / 9— / 9
Accruals ratio −0.4%0.3%0.1%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Brighthouse Financial BHF $2.6B 43.2% — — — 3.6x —
Globe Life GL $12.2B 3.7% — 20.9% 16.0% 10.3x — Compare →
CNO Financial Group CNO $5.1B 0.9% 12.3% — — 18.4x — Compare →
Unum UNM $14.4B 1.5% — 4.3% 7.6% 21.0x — Compare →
Primerica PRI $8.6B 6.6% — — 34.5% 11.0x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.0B $6.8B $9.0B $6.6B $8.5B $5.0B $6.9B $4.1B $4.7B $6.8B
Interest expense $133M $135M $158M $191M $184M $163M $153M $153M $152M $152M
Pretax income −$4.7B −$615M $989M −$1.1B −$1.4B $2.0B $4.7B −$1.5B $422M $474M
Income tax −$1.8B −$237M $119M −$317M −$363M $361M $848M −$367M $29.0M $36.0M
Net income −$2.9B −$378M $865M −$740M −$1.1B $1.6B $3.9B −$1.1B $388M $433M
Diluted EPS −$24.54 −$3.16 $7.21 −$6.76 −$11.58 $18.39 $51.30 −$18.39 $4.64 $5.71
Diluted shares 0.12B 0.12B 0.12B 0.11B 0.10B 0.08B 0.07B 0.07B 0.06B 0.06B
Cash flow
Cash from operations $3.7B $3.4B $3.1B $1.8B $888M $641M −$1.2B −$137M −$290M $259M
Stock-based compensation — — — $21.0M $21.0M $23.0M $22.0M $29.0M $23.0M $42.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $105M $442M $473M $499M $488M $250M $250M $102M
Dividends paid $556M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $556M $0.0M $105M $442M $473M $499M $488M $250M $250M $102M
Balance sheet
Cash and short-term investments $6.5B $2.2B $4.1B $4.8B $7.4B $6.3B $5.2B $5.0B $6.9B $6.6B
Total debt $1.9B $3.6B $4.0B $4.4B $3.4B $3.2B $3.2B $3.2B $3.2B $3.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $221.9B $224.2B $206.3B $227.3B $247.9B $262.3B $224.8B $236.3B $238.5B $241.8B
Total liabilities $207.1B $209.6B $191.8B $211.0B $229.8B $253.8B $219.2B $231.3B $233.5B $235.0B
Shareholders' equity $14.9B $14.5B $14.4B $16.2B $18.0B $16.1B $5.5B $4.9B $5.0B $6.8B
Margins
Net margin −97.4% −5.5% 9.7% −11.3% −12.5% 33.0% 56.4% −27.0% 8.2% 6.4%
Returns
Return on equity — −2.6% 6.0% −4.8% −6.2% 9.6% — — — —
Return on assets — −0.2% 0.4% −0.3% −0.5% 0.6% 1.6% −0.5% 0.2% 0.2%
Growth
Revenue growth −66.1% 126.7% 31.0% −26.9% 29.7% −41.5% 38.1% −40.1% 14.7% 43.2%
Net income growth −362.7% — — −185.6% — — 136.1% −128.7% — 11.6%
EPS growth — — — −193.8% — — 179.0% −135.9% — 23.1%
Share count change — 0.0% 0.1% −6.1% −15.3% −11.4% −12.9% −10.3% −6.7% −5.9%
Financial health
Debt / equity 0.1x 0.3x 0.3x 0.3x 0.2x 0.2x — — — —
Interest coverage −34.4x −3.6x 7.3x −4.5x −6.7x 13.3x 31.9x −8.6x 3.8x 4.1x
Capital allocation
Stock comp / revenue — — — 0.3% 0.3% 0.5% 0.3% 0.7% 0.5% 0.6%
Quality scores
Accruals ratio — −1.7% −1.0% −1.2% −0.8% 0.4% 2.1% −0.4% 0.3% 0.1%

Source: SEC EDGAR XBRL filings (CIK 0001685040). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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