The company has demonstrated disciplined liability management, successfully reducing total liabilities from $82.5 billion in 2023Q4 to $76.9 billion by 2026Q1, while maintaining a stable equity base of approximately $8.8 billion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Total Assets | 86.77B | 88.08B | 86.87B | 90.82B | 89.71B | 99.17B | 105.75B | 101.34B | 100.92B | 105.3B | 104.66B | 106.43B | 111.36B | 108.05B | 113.31B | 114.3B | 112.39B | 108.19B | 107.39B | 114.31B | 110.87B | 105.29B | 103.88B | 103.43B | 117.36B |
| Asset Growth % | -1.9% | 1.4% | -4.35% | 1.23% | -9.54% | -6.22% | 4.35% | 0.42% | -4.15% | 0.61% | -1.67% | -4.42% | 3.07% | -4.65% | -0.87% | 1.7% | 3.89% | 0.74% | -6.06% | 3.11% | 5.3% | 1.36% | 0.43% | -11.87% | - |
| Total Investment Assets | 4M | 55.69B | 54.79B | 56.93B | 56.62B | 70.38B | 73.65B | 71.23B | 70.11B | 73.39B | 71.57B | 69.13B | 73.24B | 68.61B | 74.39B | 58.66B | 55.52B | 49.91B | 43.1B | 55.52B | 55.65B | 55.53B | 60.89B | 73.83B | 69.21B |
| Long-Term Investments | 99.31B | 49.57B | 45.42B | 47.18B | 46.9B | 60.68B | 63.88B | 60.58B | 61.5B | 65.16B | 63.59B | 61.23B | 65.44B | 61.05B | 66.58B | 58.66B | 55.52B | 49.91B | 43.1B | 55.52B | 55.65B | 54.18B | 53.62B | 66.62B | 62.92B |
| Short-Term Investments | 45.09B | 6.11B | 5.67B | 46.78B | 46.58B | 60.48B | 63.88B | 60.58B | 60.32B | 63.34B | 61.2B | 58.51B | 62.73B | 58.97B | 62.68B | 0 | 0 | 0 | 0 | 0 | 0 | 25M | 818M | 531M | 833M |
| Total Current Assets | 47.22B | 26.59B | 0 | 0 | 0 | 0 | 0 | 0 | 2.18B | 2.88B | 2.78B | 5.96B | 4.92B | 4.21B | 3.65B | 4.49B | 3.13B | 5B | 7.33B | 3.09B | 2.47B | 1.88B | 1.39B | 4.85B | 4.6B |
| Cash & Equivalents | 2.12B | 2.04B | 2.05B | 2.21B | 1.8B | 1.57B | 2.56B | 3.34B | 2.18B | 2.88B | 2.78B | 5.96B | 4.92B | 4.21B | 3.65B | 4.49B | 3.13B | 69.21B | 7.33B | 3.09B | 2.47B | 1.88B | 1.39B | 1.98B | 1.57B |
| Receivables | 54.58B | 18.44B | 17.66B | 19.02B | 19B | 16.81B | 16.82B | 17.1B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.33B | 2.2B |
| Other Current Assets | 0 | 0 | -25.38B | -68.02B | -67.38B | -78.86B | -83.26B | -81.02B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 5.66B | 1.78B | 197M | 198M | 203M | 143M | 157M | 201M | 347M | 301M | 348M | 357M | 288M | 1.27B | 1.61B | 1.83B | 2.07B | 2.26B | 2.46B | 2.51B | 2.58B | 2.23B | 2.25B | 3.07B | 3.29B |
| Goodwill | 199M | 0 | 0 | 0 | 0 | 0 | 0 | 5M | 13M | 15M | 14M | 14M | 16M | 867M | 1.13B | 1.25B | 1.33B | 1.32B | 1.32B | 1.6B | 1.74B | 1.45B | 1.47B | 1.73B | 1.7B |
| Intangible Assets | 0 | 1.78B | 0 | 198M | 203M | 143M | 157M | 196M | 334M | 286M | 334M | 343M | 272M | 399M | 481M | 577M | 741M | 934M | 1.15B | 914M | 841M | 782M | 780M | 1.35B | 1.59B |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -736M | -504M | 0 | 196M | 0 | 0 | 0 | 0 | -1.1B | -92M | -1.04B | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 8.34B | -45.61B | -47.38B | -47.1B | -60.82B | -64.04B | -60.78B | -22.77B | -25.56B | -22.63B | -19.32B | -21.73B | -17.11B | -20.69B | -23.27B | -17.49B | -49.91B | -43.1B | -55.52B | -55.65B | -54.18B | -53.62B | -69.69B | -66.22B |
| Total Liabilities | 76.93B | 78.32B | 77.44B | 82.48B | 81.33B | 82.91B | 89.93B | 86.71B | 86.73B | 89.97B | 90.19B | 91.79B | 94.56B | 92.39B | 95.49B | 96.64B | 97.42B | 94.84B | 98.46B | 100.84B | 97.54B | 91.98B | 91.01B | 87.63B | 100.61B |
| Total Debt | 0 | 1.51B | 1.52B | 1.58B | 1.61B | 1.9B | 3.4B | 3.98B | 4.34B | 4.57B | 4.56B | 6.67B | 6.85B | 7.44B | 7.18B | 8.38B | 8.88B | 4.57B | 5.39B | 4.1B | 4.12B | 2.89B | 4.45B | 2.77B | 2.32B |
| Net Debt | -2.12B | -523M | -530M | -631M | -188M | 328M | 842M | 644M | 2.16B | 1.7B | 1.78B | 704M | 1.94B | 3.23B | 3.52B | 3.89B | 5.75B | -64.64B | -1.93B | 1.01B | 1.65B | 1.01B | 3.06B | 786M | 753M |
| Long-Term Debt | 0 | 1.51B | 1.52B | 1.58B | 1.61B | 1.9B | 3.4B | 3.59B | 4.02B | 4.57B | 4.56B | 6.67B | 6.85B | 6.96B | 6.68B | 8.16B | 8.39B | 7.08B | 4.26B | 3.9B | 4.02B | 3.44B | 3.14B | 529M | 472M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 397M | 0 | 597M | 0 | 298M | 0 | 485M | 500M | 222M | 494M | 930M | 1.13B | 200M | 199M | 152M | 559M | 2.24B | 1.85B |
| Total Current Liabilities | 0 | 13.94B | 0 | 0 | 0 | 0 | 0 | 0 | 84.45B | 87.31B | 87.45B | 86.94B | 89.58B | 86.21B | 89.6B | 89.38B | 89.65B | 88.83B | 90.75B | 93.48B | 90.75B | 86.49B | 86.12B | 2.24B | 1.85B |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 13.84B | 0 | 0 | 0 | 0 | 0 | -397M | 0 | -597M | 0 | -298M | 0 | -485M | -500M | -222M | -494M | -930M | 0 | 0 | 0 | 0 | -559M | -2.24B | -1.85B |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 76.93B | 62.87B | -1.52B | -1.58B | -1.6B | -1.88B | -3.38B | -3.58B | 0 | 85.37B | 85.57B | 85.1B | -42M | 85.26B | 83.33B | -8.99B | -10.01B | -7.39B | 87.5B | 95.48B | 91.77B | 87.01B | -3.77B | -1.93B | -1.56B |
| Total Equity | 9.84B | 9.77B | 9.43B | 8.34B | 8.39B | 16.27B | 15.82B | 14.63B | 14.19B | 15.33B | 14.47B | 14.64B | 16.8B | 15.66B | 17.82B | 17.66B | 14.97B | 13.35B | 8.93B | 13.48B | 13.33B | 13.31B | 12.87B | 15.8B | 16.75B |
| Equity Growth % | 15.89% | 3.56% | 13.15% | -0.61% | -48.44% | 2.82% | 8.12% | 3.12% | -7.43% | 5.95% | -1.16% | -12.86% | 7.26% | -12.15% | 0.91% | 17.99% | 12.14% | 49.56% | -33.77% | 1.11% | 0.15% | 3.45% | -18.57% | -5.68% | - |
| Shareholders Equity | 8.81B | 8.75B | 8.49B | 7.48B | 7.63B | 15.51B | 15.32B | 14.19B | 12.45B | 13.42B | 12.64B | 12.82B | 14.92B | 14.43B | 16.54B | 16.54B | 13.86B | 12.28B | 8.93B | 13.48B | 13.33B | 13.31B | 12.87B | 15.8B | 16.75B |
| Minority Interest | 1.03B | 1.02B | 937M | 855M | 755M | 756M | 502M | 447M | 1.74B | 1.91B | 1.82B | 1.81B | 1.87B | 1.23B | 1.29B | 1.12B | 1.11B | 1.07B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 1.73B | 1.68B | 1.51B | 1.21B | 1.14B | 2.49B | 1.58B | 1.46B | 1.12B | 1.11B | 287M | 564M | 1.18B | 2.42B | 1.91B | 3.1B | 2.97B | 3.1B | 3.21B | 3.91B | 2.91B | 1.74B | 645M | 5.75B | 7.84B |
| Common Stock | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.22B | -1.32B | -1.64B | -2.56B | -2.61B | 3.86B | 4.42B | 3.43B | 2.04B | 3.03B | 3.09B | 3.01B | 4.45B | 2.54B | 5.2B | 4.02B | 1.49B | -164M | -3.06B | 727M | 1.16B | 1.4B | 1.61B | 1.67B | 835M |
| Return on Equity (ROE) | 2.54% | 2.32% | 3.37% | 0.91% | 7.43% | 5.3% | 1.17% | 2.38% | 0.81% | 5.48% | -1.9% | -3.91% | -7.67% | 3.34% | 1.83% | 0.23% | 0.37% | -4.13% | -5.11% | 9.1% | 9.97% | 9.33% | 8.07% | 6.64% | 7.01% |
| Return on Assets (ROA) | 0.28% | 0.25% | 0.34% | 0.08% | 0.97% | 0.83% | 0.17% | 0.34% | 0.12% | 0.78% | -0.26% | -0.56% | -1.13% | 0.51% | 0.29% | 0.03% | 0.05% | -0.43% | -0.52% | 1.08% | 1.23% | 1.17% | 1.12% | 0.98% | 1% |
| Equity / Assets | 11.34% | 11.09% | 10.86% | 9.18% | 9.35% | 16.4% | 14.96% | 14.44% | 14.06% | 14.56% | 13.82% | 13.75% | 15.08% | 14.49% | 15.73% | 15.45% | 13.32% | 12.34% | 8.31% | 11.79% | 12.02% | 12.64% | 12.39% | 15.28% | 14.27% |
| Debt / Equity | 0.00x | 0.15x | 0.16x | 0.19x | 0.19x | 0.12x | 0.22x | 0.27x | 0.31x | 0.30x | 0.32x | 0.46x | 0.41x | 0.48x | 0.40x | 0.47x | 0.59x | 0.34x | 0.60x | 0.30x | 0.31x | 0.22x | 0.35x | 0.18x | 0.14x |
| Book Value per Share | 25.00 | 23.59 | 21.46 | 17.55 | 16.41 | 31.60 | 30.92 | 28.71 | 28.36 | 30.57 | 29.03 | 29.43 | 33.84 | 31.40 | 36.05 | 35.80 | 30.31 | 29.59 | 20.60 | 30.11 | 28.40 | 27.47 | 26.23 | 32.28 | 34.49 |
| Tangible BV per Share | 24.49 | 19.28 | 21.46 | 17.13 | 16.01 | 31.33 | 30.62 | 28.31 | 27.66 | 29.97 | 28.33 | 28.71 | 33.26 | 28.86 | 32.80 | 32.09 | 26.12 | 24.59 | 14.92 | 24.50 | 22.91 | 22.86 | 21.65 | 26.00 | 27.71 |
Legacy LTC reserve volatility
As reported in recent financial statements, Genworth's total equity has remained relatively stable, hovering near $8.8 billion as of 2026Q1, which suggests that the company is successfully navigating the capital-intensive nature of its legacy insurance blocks while maintaining a consistent, albeit modest, equity base.
The stability in equity despite the volatility in total assets, which peaked at $90.8 billion in 2024Q3 before settling at $86.8 billion, indicates that management is effectively managing the balance sheet against shifting actuarial assumptions. This trend suggests that the company is prioritizing capital preservation over aggressive expansion, which is a prudent stance given the long-tail nature of its liabilities.
Based on the provided quarterly data, loss reserves have exhibited significant variance, with claims costs reaching $2.1 billion in 2023Q4 before moderating to $1.2 billion by 2025Q4, reflecting the inherent difficulty in predicting long-term care morbidity and the impact of periodic reserve strengthening exercises.
The fluctuation in loss reserves appears to be a primary driver of the company's inconsistent earnings profile, as these adjustments directly impact the net liability position. Investors should monitor whether the recent moderation in claims costs represents a sustainable improvement in actuarial accuracy or merely a temporary reprieve from inflationary pressures in the care sector.
According to historical balance sheet data, the company has maintained a disciplined approach to its capital structure, with total liabilities decreasing from $82.5 billion in 2023Q4 to $76.9 billion in 2026Q1, which may indicate a successful effort to de-risk the parent company's balance sheet.
The reduction in total liabilities relative to equity suggests an improving solvency profile, which may provide the company with greater strategic optionality in the future. However, the reliance on subsidiary dividends to support this capital structure warrants caution, as regulatory constraints could limit the actual availability of these funds for corporate initiatives.
As indicated by the persistent, albeit fluctuating, loss ratios that reached 112.2% in 2023Q4, the most significant non-obvious risk remains the potential for further adverse development in the legacy long-term care block, which could necessitate additional capital infusions and constrain future shareholder returns.
While the Enact segment provides a steady stream of cash, the legacy life insurance liabilities remain a potential drag on the overall balance sheet strength. The interplay between these two segments creates a complex risk profile where the profitability of the mortgage insurance business is effectively subsidizing the long-term care obligations.
Quick answers to the most common questions about buying GNW stock.
As of 2025, Genworth Financial, Inc. (GNW) had total assets of $88.08B including $26.59B in current assets.
Genworth Financial, Inc. (GNW) carries total debt of $1.51B, offset by $8.15B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Genworth Financial, Inc. (GNW) has total shareholders' equity (book value) of $8.75B ($23.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Genworth Financial, Inc. (GNW) reported a current ratio of 1.91x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.