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VOYA

Voya Financial, Inc.

VOYA

Voya Financial, Inc. • NYSE
$70.30 ▼ -0.51% (-0.36)
Market Cap $6.76 B
52w High $83.59
52w Low $52.43
Dividend Yield 1.82%
P/E 12.02
Volume 462.39K
Outstanding Shares 96.13M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $-367M ▼ $192M ▲ 0% $1.83 ▲ $367M ▲
Q2-2025 $0 $-251M ▼ $166M ▲ 0% $1.68 ▲ $251M ▲
Q1-2025 $0 $-240M ▼ $156M ▲ 0% $1.45 ▲ $240M ▲
Q4-2024 $0 $-195M ▼ $97M ▼ 0% $0.97 ▼ $195M ▲
Q3-2024 $0 $-185M $114M 0% $1 $185M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $28.208B ▲ $177.448B ▲ $170.365B ▲ $4.957B ▲
Q2-2025 $27.648B ▲ $172.436B ▲ $165.883B ▲ $4.629B ▲
Q1-2025 $27.137B ▲ $163.95B ▲ $157.589B ▼ $4.383B ▲
Q4-2024 $25.697B ▼ $163.889B ▼ $157.882B ▼ $4.005B ▼
Q3-2024 $26.722B $166.933B $160.351B $4.719B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 $168M ▼ $-718M ▼ $505M ▲ $-45M ▼ $168M ▼
Q2-2025 $0 $742M ▲ $-524M ▼ $93M ▲ $311M ▲ $742M ▲
Q1-2025 $0 ▼ $-179M ▼ $245M ▲ $-570M ▼ $-504M ▼ $-179M ▼
Q4-2024 $97M ▲ $79M ▼ $-23M ▲ $-87M ▼ $-31M ▼ $79M ▼
Q3-2024 $0 $719M $-486M $132M $365M $719M

Revenue by Products

Product Q2-2024Q3-2024Q1-2025Q2-2025
Corporate Segment
Corporate Segment
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Employee Benefits
Employee Benefits
 $10.00M ▲$890.00M ▲$10.00M ▼$10.00M ▲
Investment Management
Investment Management
 $240.00M ▲$250.00M ▲$240.00M ▼$240.00M ▲
Investment Management Segment
Investment Management Segment
 $0 ▲$0 ▲$240.00M ▲$240.00M ▲
Retirement
Retirement
 $160.00M ▲$730.00M ▲$180.00M ▼$180.00M ▲
Retirement Segment
Retirement Segment
 $0 ▲$0 ▲$0 ▲$820.00M ▲
Health Solutions Segment
Health Solutions Segment
 $0 ▲$0 ▲$840.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Voya’s income statement shows a business that has grown revenue again after a dip a few years ago, with recent years looking stronger and more consistent. Profitability has improved from the pandemic period, moving from a loss to solid, recurring profits, although one year in the middle of the period looks unusually strong and likely reflects one‑time factors rather than a new normal. Overall, the trend suggests a company that has stabilized and is gradually expanding earnings, but results can still swing with markets, interest rates, and insurance-related items.

Balance Sheet

Balance Sheet The balance sheet reflects a large, complex financial institution with sizable assets and relatively stable debt over time. Shareholders’ equity has come down meaningfully compared with earlier years, which likely reflects a mix of capital returns to shareholders, market movements, and accounting effects rather than simple operating weakness. Cash on hand is modest compared with total assets, which is typical for this type of business, where most resources sit in investment portfolios and policy-related assets. The result is a leaner capital base and a more efficient structure, but also a somewhat thinner cushion if conditions turn sharply negative.

Cash Flow

Cash Flow Cash flow from operations has generally been positive but uneven, which is common in financial firms where timing of cash movements can vary a lot year to year. Free cash flow closely tracks operating cash flow because the business model is capital‑light and does not require heavy spending on physical assets. The pattern suggests that Voya can usually generate enough cash to support its strategy, including acquisitions and capital returns, but investors should recognize that cash generation can be lumpy and sensitive to markets and claims experience.

Competitive Edge

Competitive Edge Voya holds a solid position in retirement plans, workplace benefits, and investment management, helped by a diversified business mix across wealth, health, and asset management. Its focus on workplace solutions and a “business-to-business-to-consumer” model gives it access to large groups of employees at once, creating sticky, recurring relationships. The shift toward a more capital‑light model and targeted acquisitions, such as in benefits administration and retirement plans, further reinforces scale and relevance. At the same time, Voya faces intense competition from large insurers, asset managers, recordkeepers, and emerging fintech platforms, as well as ongoing regulatory and pricing pressure in retirement and health benefits.

Innovation and R&D

Innovation and R&D Innovation at Voya is centered on digital platforms, data, and behavioral insights rather than traditional physical R&D. Tools like the myVoyage financial‑wellness hub and Voya Claims 360 are designed to make financial decisions and claims handling more intuitive and integrated for users. Behind the scenes, Voya is investing in cloud technology, data analytics, and AI to personalize guidance, streamline operations, and support advisors. Its Behavioral Finance Institute adds a research-driven layer, aiming to design products and nudges that align with how people actually behave with money. The key question going forward is how effectively Voya can keep enhancing these tools, drive adoption at scale, and turn digital engagement into deeper, longer‑lasting customer relationships.

Summary

Voya appears to be a financial services company in a later stage of transition: earnings have recovered and grown from the pandemic period, the business mix has shifted toward more capital‑light, fee‑oriented areas, and cash generation is generally supportive of its strategy. The balance sheet is still substantial but now carries less equity, reflecting a move toward a more efficient structure with a bit less buffer. Competitively, Voya benefits from strong positions in retirement and workplace benefits, reinforced by acquisitions and a focus on integrated health‑and‑wealth offerings. Its heavy emphasis on digital platforms, data, AI, and behavioral finance is a key part of its differentiation, but also raises execution risk: success depends on integrating acquisitions smoothly, keeping technology ahead of peers, and navigating regulatory and market volatility. Overall, the story is of a diversified, tech‑enabled financial firm with improving fundamentals, but one whose results remain closely tied to economic conditions, markets, and its ability to keep delivering on its digital and workplace‑focused strategy.

NEWS

November 19, 2025 · 8:45 AM UTC

Voya Investment Management launches its first actively managed ETFs

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November 17, 2025 · 5:00 PM UTC

Voya Equity Closed End Funds Declare Distributions

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November 6, 2025 · 3:40 PM UTC

Voya surprises Montana teacher with $27,000 to support her "Indigi-STEAM" program for the Crow Reservation

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November 4, 2025 · 4:15 PM UTC

Voya Financial announces third-quarter 2025 results

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October 30, 2025 · 4:20 PM UTC

Voya Financial increases common dividend and declares preferred stock dividend

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