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BHFAN

Brighthouse Financial, Inc.

BHFAN

Brighthouse Financial, Inc. • NASDAQ
$13.47 ▲ 2.20% (+0.29)
Market Cap $770.10 M
52w High $19.97
52w Low $11.51
Dividend Yield 1.34%
P/E 1.07
Volume 59.45K
Outstanding Shares 57.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.708B ▲ $287M ▼ $479M ▲ 28.044% ▲ $7.93 ▲ $623M ▲
Q2-2025 $790M ▼ $401M ▼ $85M ▲ 10.759% ▲ $1.05 ▲ $131M ▲
Q1-2025 $2.32B ▲ $423M ▲ $-268M ▼ -11.552% ▼ $-5.04 ▼ $-316M ▼
Q4-2024 $1.077B ▼ $351M ▼ $671M ▲ 62.303% ▲ $11.02 ▲ $872M ▲
Q3-2024 $1.963B $437M $176M 8.966% $2.48 $226M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $88.143B ▲ $244.679B ▲ $238.251B ▲ $6.363B ▲
Q2-2025 $87.545B ▲ $242.645B ▲ $236.907B ▲ $5.673B ▲
Q1-2025 $86.876B ▼ $234.681B ▼ $229.377B ▼ $5.239B ▲
Q4-2024 $86.968B ▼ $238.537B ▼ $233.513B ▼ $4.959B ▼
Q3-2024 $90.74B $245.156B $239.566B $5.525B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-268M ▼ $117M ▲ $1.372B ▲ $-423M ▼ $1.066B ▲ $117M ▲
Q2-2025 $268M ▲ $-1M ▼ $112M ▼ $762M ▲ $873M ▲ $-1M ▼
Q1-2025 $-268M ▼ $146M ▲ $563M ▲ $-1.087B ▼ $-378M ▲ $146M ▲
Q4-2024 $0 ▼ $-118M ▼ $-357M ▼ $-110M ▼ $-585M ▼ $-118M ▼
Q3-2024 $459M $24M $-130M $1.295B $1.189B $24M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q1-2025
Accident and Health Insurance Product Line
Accident and Health Insurance Product Line
 $0 ▲$0 ▲$0 ▲$0 ▲
Investment Product
Investment Product
 $0 ▲$0 ▲$0 ▲$590.00M ▲
Life Insurance Product Line
Life Insurance Product Line
 $0 ▲$0 ▲$0 ▲$280.00M ▲
Variable Annuity
Variable Annuity
 $0 ▲$0 ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Brighthouse’s income statement shows a business that can swing sharply between strong profits and meaningful losses from year to year. Revenue and earnings are quite volatile, which is common for life insurers because results are heavily influenced by interest rates, equity markets, and reserve assumptions. After a sizeable loss in the prior year, the company returned to a solid profit most recently, suggesting that much of the weakness was cyclical or market‑driven rather than purely operational. Over several years, the pattern is “lumpy profitability” rather than a smooth upward trend, which means results can look very different depending on the market environment.

Balance Sheet

Balance Sheet The balance sheet is large and broadly stable, which fits a life insurer that manages long‑term policy obligations and big investment portfolios. Total assets have edged up over time, and cash on hand has grown modestly, giving some day‑to‑day flexibility. Debt levels are fairly steady and not especially high relative to the overall asset base. Shareholders’ equity, however, is quite small compared with total assets and has come down significantly from earlier years, which is typical in this industry when interest rates and markets move, but it does mean the company operates with a thin capital cushion in accounting terms. Overall, the balance sheet looks typical for a life insurer: sizable, complex, and sensitive to financial market conditions.

Cash Flow

Cash Flow Cash flow is more concerning than headline earnings. Operating cash flow has been negative in most of the recent years, including the latest period, after being positive earlier in the decade. Since the company has essentially no traditional capital spending, free cash flow mirrors these swings. For a financial institution, reported cash flow can be distorted by investment and liability movements, so negative figures do not automatically signal stress, but persistent outflows are still something to watch. It suggests that accounting profits have not consistently translated into cash inflows and that the business is quite dependent on capital management and investment flows.

Competitive Edge

Competitive Edge Brighthouse competes as a focused provider of annuities and life insurance rather than as a broad, diversified financial conglomerate. This narrower strategy can be an advantage: it simplifies the story for advisors and customers and may help keep costs and risk more tightly controlled. The company relies heavily on a wide distribution network of financial advisors and partner institutions, which is a key strength in a product set that is sold, not bought. At the same time, it faces intense competition from much larger insurers and asset managers that may have stronger brands, more product breadth, and deeper resources. Its edge appears to come from product design, advisor relationships, and disciplined risk management, rather than from sheer scale.

Innovation and R&D

Innovation and R&D Innovation at Brighthouse is more about product design and digital tools than traditional research labs. The firm has invested in a digital platform for advisors that simplifies the annuity sales process from education through application, aiming to make it easier and faster for advisors to do business with them. On the product side, its Shield Level annuities and SmartCare hybrid life/long‑term care policy are clear attempts to address real retirement concerns: market volatility, income needs, and healthcare costs. These offerings emphasize clarity and protection features, which can stand out in a complex market. Looking ahead, the company appears focused on expanding digital capabilities, deepening partnerships with platforms like Envestnet, and using data analytics to refine product design, all of which suggest a steady, incremental innovation mindset rather than radical disruption.

Summary

Overall, Brighthouse Financial shows the profile of a specialized life insurer with meaningful earnings volatility, a large but capital‑thin balance sheet, and uneven cash generation. Its profitability can look strong in good markets but has proven vulnerable when conditions turn, which is visible in the sharp swings in recent years. The balance sheet and risk management approach are central to its resilience, given how small reported equity is relative to assets. Competitively, the company offsets its smaller scale with focus, strong advisor distribution, and differentiated retirement products. Its ongoing investment in digital tools and product innovation supports its niche, but the business remains highly exposed to interest rates, market performance, and regulatory and longevity trends. For anyone assessing BHFAN, these issuer‑level strengths and vulnerabilities form the core backdrop to consider.