Voya Financial, Inc.

Life Insurance

VOYAMixed10 of 11 basics passed

$94.67

-2.04%

Market cap $8.58B

$94.67

-2.04%

Market cap $8.58B

Voya Financial Inc is a financial services company, which, through its subsidiaries, provides various investment, insurance, and retirement solutions to individual and institutional clients in the United States.

It is a $8.58B financial services company. Revenue grew 3.2% over the last year, and it keeps 7¢ of every dollar of sales as profit. It trades at 14.1× earnings — in the most expensive third of its own history.

Website: voya.com
Location: New York, NY
Employees: 11 000
Sector: Financial Services
Founded: 2013

Share price · 3 years

$66.52 → $94.67+42.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $8.17B
Profit: keeps 7¢ of every $1 sold; $608M
Free cash flow: cash left after running the business; $1.19B
Net debt: debt minus cash on hand; $611M
P/E: years of profit in the price; 14.1
EPS: earnings per share, TTM; $5.85
Dividend: pays out 36% of profit · 18% of FCF; 2.55%
Shares: down 7% since 2020 — buybacks; 104.0M
Volatility: beta vs the market — under 1 swings less; 0.85

Revenue, last 10 years

52-week range

Low $65.51$94.67High $104.86

Today's price is 74% of the way from the year's low to its high.

P/E vs its history4y

14.6×median 12.0×

Higher than 90% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

14.6×

10%

P/S

1.1×

53%

EV/EBITDA

14.0×

28%

P/B

1.3×

83%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$3.49Mnet selling

Purchases$0

Sales$3.49M

Insiders trading, last 14d0 buy · 0 sell

Standing in Financial Services

Size$8.58Btop 95%
Revenue growth+11%top 39%
Net margin7%top 77%
Return on equity13%top 50%
P/E14.1×top 52%
Dividend yield2.55%top 34%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation; Growth, Profitability, Quality and Moat lag behind.

Valuation75

P/E vs own history90th pct · 0/25
FCF yield13.9% · 25/25
P/S1.1x · 25/25
EV/EBITDA9.7x · 25/25

Growth45

Revenue CAGR18.0% · 20/25
Net income CAGR-25.5% · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth55.2% · 25/25

Profitability49

ROIC11.8% · 12/25
ROE12.6% · 12/25
Net margin7.4% · 13/25
Operating margin12.1% · 12/25

Health55

Altman Zn/a · 0/25
Current ratio50.89 · 25/25
Interest coverage4.4x · 10/25
Net cash / debtD/A 0% · 20/25

Quality47

Piotroski F5/9 · 15/25
Beneish M-2.41 · 20/25
FCF conversionn/a · 0/25
Margin stabilityσ 12.4% · 12/25

Moat6

ROIC >12% years2/5 yrs · 6/25
Median gross marginn/a · 0/25
FCF-positive yearsn/a · 0/25
Worst-year net marginworst -34.7% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Best year on record
$2.13B net income
FY2018Financial
Turned profitable
$875M net income after a loss year
FY2016Financial
Revenue already above $10B
$10.8B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
2014Milestone
The company rebranded itself as Voya Financial
2013Founded
Voya began as ING U.S., the United States operating subsidiary of ING Group

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$15 262 today — price return only

$8.2B revenue in FY2025

Profitable 5 years in a row

Positive free cash flow 10 years in a row

11 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

No standout strengths in the available data.

Watch-outs

Loss-making in 4 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+3.2% YoY
Profitable — makes more than it spends$608M TTM
Profit growing — earnings are higher than last year+13.2% YoY
Generates cash — cash left after running and investing$1.19B TTM
Debt under control — could handle its obligations~0.5y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$8.58B market cap
Not printing shares — share count not ballooning — you keep your slice-7.1% shares over ~5y
Proven track record — years of profitability behind it6/10 profitable years
Financially stable — balance sheet not near distresshealth score 35/100
Pays a dividend — returns cash to shareholdersyield 2.55%
Valuation not extreme — price not wildly above earningsP/E 14.1

Peer comparisonVoya Financial, Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
VOYA this company	$8.6B	14.1	+3.2%	7.4%	Mixed
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: VOYA vs BRK.A · VOYA vs BRK.B · VOYA vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 3Buy 10Hold 5Sell 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $8.17B · net income $608M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$8.17B

YoY 3.2%

Net income (TTM)

$608M

Margin 7.4%

Operating margin

12.1%

P/E ratio

14.1

Dividend yield

2.55%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	7.6	4.2	5.9	7.3	8.1	8.2
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	—	2.8	0.4	0.7	0.8	0.8
Net income	-0.2	2.1	0.5	0.6	0.7	0.7
EPS (diluted)	-1.84	—	4.30	5.42	6.17	6.29

Cash flowFree cash flow $1.19B · operating cash flow $1.19B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.19B

Margin 14.6%

Operating cash flow (TTM)

$1.19B

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	1.2	0.1	1.4	1.6	1.3	1.3
Capital expenditure	—	—	—	—	—	—
Free cash flow	1.2	0.1	1.4	1.6	1.3	1.3
FCF margin	15.8%	1.7%	22.8%	22.3%	16.7%	15.7%

Balance sheetAssets $179B · net debt $611M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $179B of assets is financed

97%

Liabilities $172B — borrowed moneyEquity $4.95B — owners' stake

Cash vs debt

Total debt $2.10B − cash $1.49B = net debt $611M

Cash on hand covers 71% of debt.

Interest coverage

4.4x

EBIT ÷ interest expense

ROE

12.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	1.6	1.5	1.4	1.3	1.6	1.5
Total assets	180.5	171.3	147.7	157.1	163.9	178.9
Total liabilities	169.3	161.4	141.5	151.0	157.9	171.8
Total debt	3.0	2.6	2.2	2.1	2.5	2.1
Equity	10.1	8.3	4.5	4.2	4.0	5.0
Net debt	1.4	1.1	0.9	0.8	0.9	0.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of VOYA on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $94.67 · market cap $8.58B.