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EQH logoEquitable Holdings, Inc.(EQH)Earnings, Financials & Key Ratios

EQH•NYSE•Insurance & Managed Care
$43.72
$12.31B mkt cap·Price updated May 6, 2026
SectorFinancial ServicesIndustryDiversified InsuranceSub-IndustryLife, annuity and benefits insurers
AboutEquitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals. The Group Retirement segment provides tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities, and not-for-profit entities, as well as small and medium-sized businesses. The Investment Management and Research segment offers diversified investment management, research, and related solutions to various clients through institutional, retail, and private wealth management channels; and distributes its institutional research products and solutions. The Protection Solutions segment provides various variable universal life, indexed universal life, and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners; and a suite of life, short- and long-term disability, dental, and vision insurance products to small and medium-size businesses. The company was formerly known as AXA Equitable Holdings, Inc. and changed its name to Equitable Holdings, Inc. in January 2020. Equitable Holdings, Inc. was founded in 1859 and is based in New York, New York.Show more
  • Revenue$11.66B-6.2%
  • Combined Ratio110.23%+32.8%
  • Net Income-$1.38B-205.6%
  • Return on Equity-51.53%-272.0%
  • Medical Cost Ratio20.86%-55.6%
  • Operating Margin-10.23%-160.3%
  • Net Margin-11.83%-212.6%
  • ROA-0.45%-198.5%
  • Equity / Assets0.56%-53.4%
  • Book Value per Share6.00-45.4%
  • Tangible BV/Share-37.05-525.1%
  • Debt/Equity3.67+93.1%
Analysis→Technical→

EQH Key Insights

Equitable Holdings, Inc. (EQH) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Low loss ratio of 20.9%
  • ✓Healthy dividend yield of 2.4%
  • ✓Share count reduced 8.2% through buybacks

✗Weaknesses

  • ✗Unprofitable underwriting: 110.2% combined ratio
  • ✗High debt to equity ratio of 3.7x
  • ✗Weak 3Y average ROE of 2.7%
  • ✗Profits declining 16.3% over 5 years

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EQH Price & Volume

Equitable Holdings, Inc. (EQH) stock price & volume — 10-year historical chart

Loading chart...

EQH Growth Metrics

Equitable Holdings, Inc. (EQH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.47%
5 Years-1.24%
3 Years-2.65%
TTM-10.87%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-207.23%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-228.19%

Return on Capital

10 Years0.41%
5 Years0.53%
3 Years0.18%
Last Year-0.52%

EQH Recent Earnings

Equitable Holdings, Inc. (EQH) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
May 4, 2026
EPS
$1.62
Est $1.60
+1.3%
Revenue
$4.2B
Est $3.9B
+7.1%
Q1 2026
Feb 4, 2026
EPS
$1.76
Est $1.75
+0.6%
Revenue
$3.3B
Est $4.0B
-17.0%
Q4 2025
Nov 4, 2025
EPS
$1.48
Est $1.61
-8.1%
Revenue
$1.4B
Est $3.5B
-58.5%
Q3 2025
Aug 5, 2025
EPS
$1.21
Est $1.71
-170.8%
Revenue
$2.4B
Est $4.0B
-40.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$1.62vs $1.60+1.3%
$4.2Bvs $3.9B+7.1%
Q1 2026Feb 4, 2026
$1.76vs $1.75+0.6%
$3.3Bvs $4.0B-17.0%
Q4 2025Nov 4, 2025
$1.48vs $1.61-8.1%
$1.4Bvs $3.5B-58.5%
Q3 2025Aug 5, 2025
$1.21vs $1.71-170.8%
$2.4Bvs $4.0B-40.8%
Based on last 12 quarters of dataView full earnings history →

EQH Peer Comparison

Equitable Holdings, Inc. (EQH) competitors in Life, annuity and benefits insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
LNC logoLNCLincoln National CorporationDirect Competitor6.41B37.622.0453.61%11.43%20.18%0.77
PRU logoPRUPrudential Financial, Inc.Direct Competitor34.86B100.169.80-14.01%5.62%10.26%0.65
MET logoMETMetLife, Inc.Direct Competitor52.27B80.1616.7010.22%4.44%11.88%0.70
PFG logoPFGPrincipal Financial Group, Inc.Direct Competitor22B101.5519.34-3.11%7.58%9.89%0.34
VOYA logoVOYAVoya Financial, Inc.Direct Competitor7.46B80.4612.73-6.88%9.68%0.30
FG logoFGF&G Annuities & Life, Inc.Direct Competitor4B29.4615.675.72%4.8%5.61%0.45
BEN logoBENFranklin Resources, Inc.Product Competitor16.19B31.1634.243.45%5.64%0.94
IVZ logoIVZInvesco Ltd.Product Competitor12.15B27.35-17.095.11%-1.74%0.78

Compare EQH vs Peers

Equitable Holdings, Inc. (EQH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs LNC

Most directly comparable listed peer for EQH.

Scale Benchmark

vs MS

Larger-name benchmark to compare EQH against a more recognizable public peer.

Peer Set

Compare Top 5

vs LNC, PRU, MET, PFG

EQH Income Statement

Equitable Holdings, Inc. (EQH) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue12.46B12.07B9.62B12.41B7.61B12.64B10.53B12.44B11.66B
Revenue Growth %5.93%-3.14%-20.3%29.07%-38.67%66.06%-16.74%18.13%-6.21%
Medical Costs & Claims6.95B5.46B7.49B9.51B291M5.07B5.34B5.84B2.43B
Medical Cost Ratio %55.74%45.23%77.84%76.62%3.82%40.06%50.68%46.93%20.86%
Gross Profit
5.51B▲ 0%
6.61B▲ 19.9%
2.13B▼ 67.7%
2.9B▲ 36.2%
7.32B▲ 152.3%
7.58B▲ 3.5%
5.19B▼ 31.5%
6.6B▲ 27.1%
9.23B▲ 39.9%
Gross Margin %44.26%54.77%22.16%23.38%96.18%59.94%49.32%53.07%79.14%
Gross Profit Growth %-2.82%19.85%-67.75%36.16%152.26%3.5%-31.49%27.12%39.88%
Operating Expenses4.21B4.12B4.19B4B4.71B4.59B4.45B4.49B10.43B
OpEx / Revenue %33.78%34.14%43.58%32.19%61.91%36.28%42.31%36.09%89.37%
Depreciation & Amortization399M296M675M1.76B519M636M812M860M0
Combined Ratio %89.52%79.37%121.42%108.8%65.73%76.34%92.99%83.03%110.23%
Operating Income
1.31B▲ 0%
2.49B▲ 90.7%
-2.06B▼ 182.7%
-1.09B▲ 46.9%
2.61B▲ 338.7%
2.99B▲ 14.7%
738M▼ 75.3%
2.11B▲ 186.0%
-1.19B▼ 156.5%
Operating Margin %10.48%20.63%-21.42%-8.8%34.27%23.66%7.01%16.97%-10.23%
Operating Income Growth %-35.57%90.66%-182.73%46.94%338.7%14.68%-75.33%186.04%-156.51%
EBITDA1.71B2.79B-1.39B664M3.13B3.63B1.55B2.97B-969M
EBITDA Margin %13.68%23.08%-14.4%5.35%41.08%28.69%14.72%23.89%-8.31%
Interest Expense160M231M221M200M244M201M228M226M224M
Non-Operating Income-160M-231M-221M-200M-244M-201M-228M-226M-224M
Pretax Income
1.31B▲ 0%
2.49B▲ 90.7%
-2.06B▼ 182.7%
-1.09B▲ 46.9%
2.61B▲ 338.7%
2.99B▲ 14.7%
738M▼ 75.3%
2.11B▲ 186.0%
-1.19B▼ 156.5%
Pretax Margin %10.48%20.63%-21.42%-8.8%34.27%23.66%7.01%16.97%-10.23%
Income Tax49M301M-593M-744M439M598M-905M288M-156M
Effective Tax Rate %3.75%12.09%28.79%68.07%16.83%19.99%-122.63%13.64%13.08%
Net Income
834M▲ 0%
1.85B▲ 122.4%
-1.76B▼ 195.1%
-648M▲ 63.3%
1.75B▲ 370.8%
2.15B▲ 22.7%
1.3B▼ 39.5%
1.31B▲ 0.4%
-1.38B▼ 205.6%
Net Margin %6.69%15.37%-18.34%-5.22%23.05%17.03%12.37%10.51%-11.83%
Net Income Growth %-33.49%122.42%-195.09%63.27%370.83%22.68%-39.53%0.38%-205.59%
EPS (Diluted)
1.49▲ 0%
3.27▲ 119.5%
-3.51▼ 207.3%
-1.56▲ 55.6%
-1.24▲ 20.5%
5.46▲ 540.3%
3.48▼ 36.3%
3.78▲ 8.6%
-4.83▼ 227.8%
EPS Growth %-33.48%119.46%-207.34%55.56%20.51%540.32%-36.26%8.62%-227.78%
EPS (Basic)1.493.27-3.51-1.56-1.245.493.493.82-4.83
Diluted Shares Outstanding561M556.5M493.6M450.4M417.4M379.9M351.6M324.8M298.1M

EQH Balance Sheet

Equitable Holdings, Inc. (EQH) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets235.62B220.8B249.82B275.4B292.26B252.7B276.81B295.87B317.99B
Asset Growth %8.76%-6.29%13.14%10.24%6.12%-13.54%9.54%6.88%7.48%
Total Investment Assets67.07B65.22B85.92B102.54B102.88B91.32B96.62B108.46B120.6B
Long-Term Investments67.07B65.22B85.92B102.54B102.88B91.32B96.51B108.33B80.33B
Short-Term Investments000078.22B63.36B116M137M40.27B
Total Current Assets30.75B30.59B22.6B24.77B28.75B20.32B28.2B28.28B78.5B
Cash & Equivalents4.81B4.47B4.41B6.18B5.19B4.28B8.24B6.96B12.46B
Receivables000017.47B11.59B12.24B12B24.87B
Other Current Assets11.76B10.11B11.16B13.03B-72.13B-58.91B-64.86B-75.31B907M
Goodwill & Intangibles4.99B4.96B4.94B4.93B4.92B5.71B5.6B5.49B12.83B
Goodwill4.57B4.57B4.58B4.6B4.61B5.13B5.14B5.14B0
Intangible Assets416M388M360M331M316M571M452M352M12.83B
PP&E (Net)00687M691M637M520M516M618M0
Other Assets132.81B120.03B135.67B142.47B155.07B134.83B145.99B153.15B146.33B
Total Liabilities218.47B205.18B234.41B258.08B278.7B249.11B271.66B292.3B316.2B
Total Debt7.92B5.53B4.99B5.28B5.89B5.85B6.33B6.78B6.56B
Net Debt3.1B1.06B589M-896M702M1.57B-1.91B-182M-5.9B
Long-Term Debt3.08B4.41B4.11B4.43B5.03B4.47B5.38B5.95B6.54B
Short-Term Debt4.84B1.12B0092M759M370M137M25M
Total Current Liabilities11.86B8.14B13.79B18.17B16.69B6.34B12.54B18.93B138.87B
Accounts Payable00006.26B5.57B4.88B4.12B4.85B
Deferred Revenue000000000
Other Current Liabilities6.24B6.59B13.07B16.72B9.05B-701M6.05B13.81B133.58B
Deferred Taxes000000000
Other Liabilities203.53B192.63B215.62B234.63B256.21B237.67B253.16B266.82B170.8B
Total Equity
17.14B▲ 0%
15.62B▼ 8.9%
15.41B▼ 1.3%
17.32B▲ 12.4%
13.56B▼ 21.7%
3.6B▼ 73.5%
5.16B▲ 43.4%
3.57B▼ 30.8%
1.79B▼ 49.9%
Equity Growth %14.29%-8.9%-1.33%12.38%-21.69%-73.49%43.44%-30.83%-49.89%
Shareholders Equity13.42B13.87B13.46B15.58B11.52B1.4B2.65B1.58B-74M
Minority Interest3.72B1.75B1.96B1.74B2.04B2.19B2.51B1.98B1.86B
Retained Earnings12.22B13.99B11.74B10.7B8.88B9.82B10.24B10.65B8.37B
Common Stock5M5M5M5M4M4M5M5M5M
Accumulated OCI-108M-1.4B844M3.86B2B-8.99B-7.78B-8.71B-6.28B
Return on Equity (ROE)5.19%11.32%-11.37%-3.96%11.37%25.09%29.75%29.96%-51.53%
Return on Assets (ROA)0.37%0.81%-0.75%-0.25%0.62%0.79%0.49%0.46%-0.45%
Equity / Assets7.28%7.07%6.17%6.29%4.64%1.42%1.86%1.21%0.56%
Debt / Equity0.46x0.35x0.32x0.31x0.43x1.63x1.23x1.90x3.67x
Book Value per Share30.5628.0731.2238.4532.499.4714.6710.996.00
Tangible BV per Share21.6719.1521.2227.5120.70-5.55-1.25-5.93-37.05

EQH Cash Flow Statement

Equitable Holdings, Inc. (EQH) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-243M61M-216M-61M-193M-250M-208M1.64B713M
Operating CF Growth %-2.97%125.1%-454.1%71.76%-216.39%-29.53%16.8%887.5%-56.47%
Operating CF / Revenue %-1.95%0.51%-2.25%-0.49%-2.53%-1.98%-1.98%13.17%6.11%
Net Income1.26B2.15B-1.47B-349M388M2.39B1.3B1.31B-1.38B
Depreciation & Amortization399M296M675M1.76B519M636M812M0872M
Stock-Based Compensation247M228M278M210M274M328M-144M00
Deferred Taxes000000000
Other Non-Cash Items-2.78B-2.17B728M-1.79B983M-2.22B434M1.99B4.68B
Working Capital Changes637M-448M-430M110M-2.36B-1.39B-2.61B-1.66B-3.46B
Cash from Investing-9.69B-2.05B-8.5B-7.82B-12.69B-7.49B-4.85B-15.36B-10.75B
Capital Expenditures-102M-123M-93M-107M-120M-167M-117M-153M-34M
Acquisitions-130M-472M0219M040M0340M214M
Purchase of Investments-33.39B-29.25B-34.46B-30.31B-51.34B-21.33B-18.03B-31.25B-33.63B
Sale/Maturity of Investments22.57B26.82B26.69B23.82B40.44B17.02B15.26B14.9B22.94B
Other Investing1.36B978M-627M-1.44B-1.68B-3.05B-1.97B795M-274M
Cash from Financing9.07B1.66B8.71B9.67B11.95B7.04B9B12.1B15.5B
Dividends Paid0-157M-285M-350M-375M-374M-381M-382M-375M
Share Repurchases-275M-2.25B-1.52B-579M-1.9B-1.06B-1.06B-1.26B-2.82B
Stock Issued00775M494M293M0000
Debt Issuance (Net)1000K1000K-1000K1000K1000K-1000K1000K-1000K1000K
Other Financing8.61B3.01B10.1B9.81B13.32B8.54B9.54B14.55B18.41B
Net Change in Cash
-840M▲ 0%
-345M▲ 58.9%
-64M▲ 81.4%
1.77B▲ 2871.9%
-991M▼ 155.9%
-907M▲ 8.5%
3.96B▲ 536.4%
-1.64B▼ 141.5%
5.5B▲ 434.6%
Exchange Rate Effect22M-12M-57M-17M-56M-215M23M-20M36M
Cash at Beginning5.65B4.81B4.47B4.41B6.18B5.19B4.28B9.11B7.46B
Cash at End4.81B4.47B4.41B6.18B5.19B4.28B8.24B7.46B12.96B
Free Cash Flow
-345M▲ 0%
-62M▲ 82.0%
-309M▼ 398.4%
-168M▲ 45.6%
-313M▼ 86.3%
-417M▼ 33.2%
-325M▲ 22.1%
1.49B▲ 556.9%
679M▼ 54.3%
FCF Growth %-3.6%82.03%-398.39%45.63%-86.31%-33.23%22.06%556.92%-54.28%
FCF Margin %-2.77%-0.51%-3.21%-1.35%-4.11%-3.3%-3.09%11.94%5.82%
FCF per Share-0.61-0.11-0.63-0.37-0.75-1.1-0.924.572.28

EQH Key Ratios

Equitable Holdings, Inc. (EQH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Combined Ratio82.77%89.52%79.37%121.42%108.8%65.73%76.34%92.99%83.03%110.23%
Medical Cost Ratio51.76%55.74%45.23%77.84%76.62%3.82%40.06%50.68%46.93%20.86%
Return on Equity (ROE)8.77%5.19%11.32%-11.37%-3.96%11.37%25.09%29.75%29.96%-51.53%
Return on Assets (ROA)0.59%0.37%0.81%-0.75%-0.25%0.62%0.79%0.49%0.46%-0.45%
Equity / Assets6.92%7.28%7.07%6.17%6.29%4.64%1.42%1.86%1.21%0.56%
Book Value / Share26.7430.5628.0731.2238.4532.499.4714.6710.996
Debt / Equity0.54x0.46x0.35x0.32x0.31x0.43x1.63x1.23x1.90x3.67x
Revenue Growth16.71%5.93%-3.14%-20.3%29.07%-38.67%66.06%-16.74%18.13%-6.21%

EQH SEC Filings & Documents

Equitable Holdings, Inc. (EQH) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Apr 16, 2026·SEC

Material company update

Apr 8, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 24, 2025·SEC

10-Q Quarterly Reports

3
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 11, 2025·SEC

FY 2025

May 1, 2025·SEC

EQH Frequently Asked Questions

Equitable Holdings, Inc. (EQH) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Equitable Holdings, Inc. (EQH) saw revenue decline by 6.2% over the past year.

Equitable Holdings, Inc. (EQH) reported a net loss of $1.38B for fiscal year 2025.

Dividend & Returns

Yes, Equitable Holdings, Inc. (EQH) pays a dividend with a yield of 2.41%. This makes it attractive for income-focused investors.

Equitable Holdings, Inc. (EQH) has a return on equity (ROE) of -51.5%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Equitable Holdings, Inc. (EQH) has a combined ratio of 110.2%. A ratio above 100% means claims and expenses exceed premiums.

Explore More EQH

Equitable Holdings, Inc. (EQH) financial analysis — history, returns, DCA and operating performance tools

Full EQH Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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