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Equitable

EQH NYSE Diversified Financial Services Financials FY2016–FY2025

Equitable's revenue fell 6.1% to $11.7 billion in fiscal 2025. Its net margin was −11.8%, down from 10.3% a year earlier. It paid out $1.8 billion in dividends and buybacks. The diluted share count fell 8.2%.

Last close · Oct 23, 2026

$52.75

4.2%
Value it Compare
Revenue Total sales reported in the income statement.
$11.7B
6.1% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
−$1.4B
207.8%
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.
$14.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—

What Equitable does

No business description yet.

Legal name
EQUITABLE HOLDINGS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001333986-26-000012
0001333986

Revenue and margins

Equitable had $11.7B of revenue in fiscal 2025, down 6.1% 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

Equitable returned $1.8B to shareholders in fiscal 2025. The diluted share count fell 8.2%.

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

Value Equitable 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 $8.6B and divides by 298.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $5.2B$4.3B$8.2B$7.0B$12.5B
Debt incl. finance leases $3.9B$4.1B$4.1B$3.8B$3.9B
Interest coverage 11.7x15.9x4.1x9.6x−3.8x
Total assets $292.3B$252.7B$276.7B$295.7B$318.0B
Total liabilities $278.7B$249.1B$271.6B$292.2B$316.2B
Shareholders' equity $11.5B$1.4B$2.6B$1.6B−$74.0M
Net debt (− = net cash) −$1.3B−$200M−$4.2B−$3.1B−$8.6B

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

$6.9M

8 insiders

Of sales under plans

75%

$5.2M

DateInsiderTradeSharesPriceValueFiling
Sep 21, 2026 Bertram L ScottDirector Sold 2,780 $54.35 $0.2M Form 4
Sep 17, 2026 Craig C MacKayDirector Sold 2,000 $54.28 $0.1M Form 4
Sep 4, 2026 Arlene Isaacs-LoweDirector Sold 1,000 $52.83 $0.1M Form 4
Sep 4, 2026 Nick LaneSee Remarks Sold 14,923 $53.24 $0.8M Form 4
Aug 17, 2026 Jeffrey J HurdChief Operating Officer Sold plan 14,359 $51.98 $0.7M Form 4
Aug 11, 2026 Craig C MacKayDirector Sold 2,200 $51.37 $0.1M Form 4
Aug 10, 2026 William James Eckert IVChief Accounting Officer Sold 947 $52.88 $0.1M Form 4
Aug 6, 2026 Bertram L ScottDirector Sold 1,466 $51.15 $0.1M Form 4
Aug 6, 2026 Charles G.T. StonehillDirector Sold 7,500 $51.54 $0.4M Form 4
Jul 20, 2026 Mark PearsonPresident and CEO, Director Sold plan 39,700 $48.54 $1.9M Form 4
Jul 15, 2026 Jeffrey J HurdChief Operating Officer Sold plan 14,358 $48.86 $0.7M Form 4
Jun 18, 2026 Mark PearsonPresident and CEO, Director Sold plan 39,700 $45.29 $1.8M Form 4

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 0.6%−0.3%−0.7%
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
Equitable EQH $14.7B −6.1% — — — — —
Cincinnati Financial CINF $27.4B 11.4% — 24.5% 17.1% 8.3x — Compare →
Intercontinental Exchange ICE $92.1B 7.5% 39.0% 33.9% 7.7% 23.0x 8 Compare →
Fidelity National Information Services FIS $19.4B 5.4% 16.3% 23.0% 5.1% 5.8x 5 Compare →
Assurant AIZ $14.2B 7.9% — 12.5% 17.5% 13.6x — Compare →

10 years of figures

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

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $11.8B $12.5B $12.1B $9.6B $12.4B $7.6B $12.6B $10.5B $12.4B $11.7B
Interest expense $174M $160M $231M $221M $200M $244M $201M $228M $241M $248M
Pretax income $2.0B $1.3B $2.5B −$2.1B −$1.1B $2.6B $3.0B $714M $2.1B −$1.2B
Income tax $378M $49.0M $301M −$593M −$744M $439M $598M −$910M $280M −$156M
Net income $1.3B $834M $1.9B −$1.8B −$648M $1.8B $2.2B $1.3B $1.3B −$1.4B
Diluted EPS $2.24 $1.49 $3.33 −$3.57 −$1.56 $3.98 $5.46 $3.42 $3.69 −$4.83
Diluted shares 0.56B 0.56B 0.56B 0.49B 0.45B 0.42B 0.38B 0.35B 0.32B 0.30B
Cash flow
Cash from operations −$236M −$243M $61.0M −$216M −$61.0M −$193M −$250M −$208M $2.0B $714M
Depreciation and amortization — — $296M $675M — — — — — —
Stock-based compensation $213M $247M $228M $276M $252M $274M $328M $294M $313M $262M
Acquisitions $21.0M $130M $0.0M $0.0M $0.0M $0.0M $40.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $648M $1.4B $430M $1.6B $849M $919M $1.0B $1.5B
Dividends paid $1.1B $0.0M $157M $285M $297M $296M $294M $301M $302M $314M
Dividends and buybacks $1.1B $0.0M $805M $1.6B $727M $1.9B $1.1B $1.2B $1.3B $1.8B
Balance sheet
Cash and short-term investments $5.7B $4.8B $4.5B $4.4B $6.2B $5.2B $4.3B $8.2B $7.0B $12.5B
Total debt — — — — — $3.9B $4.1B $4.1B $3.8B $3.9B
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 — $235.6B $220.8B $249.8B $275.4B $292.3B $252.7B $276.7B $295.7B $318.0B
Total liabilities — $218.5B $205.2B $234.4B $258.1B $278.7B $249.1B $271.6B $292.2B $316.2B
Shareholders' equity $14.5B $13.4B $13.9B $13.5B $15.6B $11.5B $1.4B $2.6B $1.6B −$74.0M
Margins
EBITDA margin — — 25.0% −12.1% — — — — — —
Net margin 10.7% 6.7% 15.4% −18.3% −5.2% 23.1% 17.0% 12.3% 10.3% −11.8%
Returns
Return on equity — — 13.6% −12.9% −4.5% — — — — —
Return on assets — — 0.8% −0.8% −0.3% 0.6% 0.8% 0.5% 0.5% −0.5%
Growth
Revenue growth — 5.9% −3.1% −20.3% 29.1% −38.7% 66.1% −17.3% 18.8% −6.1%
Net income growth — −33.5% 122.4% −195.1% — — 22.7% −40.4% −0.2% −207.8%
EPS growth — −33.5% 123.5% −207.2% — — 37.2% −37.4% 7.9% −230.9%
Share count change — 0.0% −0.8% −11.3% −8.8% −6.5% −9.8% −7.5% −7.6% −8.2%
Financial health
Interest coverage 12.7x 9.2x 11.8x −8.3x −4.5x 11.7x 15.9x 4.1x 9.6x −3.8x
Capital allocation
Stock comp / revenue 1.8% 2.0% 1.9% 2.9% 2.0% 3.6% 2.6% 2.8% 2.5% 2.3%
Quality scores
Accruals ratio — — 0.8% −0.7% −0.2% 0.7% 0.9% 0.6% −0.3% −0.7%

Source: SEC EDGAR XBRL filings (CIK 0001333986). 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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