What is Voya Financial Inc's earnings per share (EPS)?

Voya Financial Inc (VOYA) reported diluted earnings per share of $6.29 for fiscal year 2025. This represents a 1.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Voya Financial Inc Financials

VOYA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Voya Financial Inc (VOYA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VOYA FY2025 2026-04-22

A thin equity base against a huge asset pool makes small asset-return moves matter more than headline profit.

In FY2025, ROA was only 0.4% while ROE was 13.2%, meaning shareholder returns were amplified by balance-sheet structure rather than unusually high earnings on assets. That setup became slightly less stretched than FY2024 as equity rose to $5.0B and long-term debt fell to $1.5B, but liabilities still do most of the funding work.

Cash conversion has been sturdier than accounting profit: operating cash flow topped net income in each of the last three years, including $1.3B versus $654M in FY2025. That points to earnings quality that is more cash-backed than the modest net margin alone suggests.

Capital deployment turned more restrained in FY2025: buybacks fell to $200M from $640M, easing pressure on a balance sheet with limited equity. The company was still returning capital, but the mix shifted toward balance-sheet flexibility rather than aggressive repurchases.

Financial Health Signals

Financial Profile 38/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Voya Financial Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Voya Financial Inc has an operating margin of 12.7%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is up from 10.8% the prior year.

Growth

Voya Financial Inc's revenue grew a modest 1.7% year-over-year to $8.2B. This slow but positive growth earns a score of 43/100.

Leverage

Voya Financial Inc carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.

Returns

Voya Financial Inc's ROE of 13.2% shows moderate profitability relative to equity, earning a score of 44/100. This is down from 16.7% the prior year.

Piotroski F-Score Neutral

5/9

Voya Financial Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.97x

For every $1 of reported earnings, Voya Financial Inc generates $1.97 in operating cash flow ($1.3B OCF vs $654.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.2B

YoY+1.7%

5Y CAGR+1.4%

10Y CAGR-0.6%

Voya Financial Inc generated $8.2B in revenue in fiscal year 2025. This represents an increase of 1.7% from the prior year.

EBITDA

N/A

Net Income

$654.0M

YoY-1.9%

10Y CAGR+4.8%

Voya Financial Inc reported $654.0M in net income in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

EPS (Diluted)

$6.29

YoY+1.9%

10Y CAGR+13.3%

Voya Financial Inc earned $6.29 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.3B

YoY-11.0%

5Y CAGR-2.1%

10Y CAGR-2.9%

Voya Financial Inc held $1.3B in cash against $1.5B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.82

YoY+7.1%

5Y CAGR+24.8%

10Y CAGR+46.5%

Voya Financial Inc paid $1.82 per share in dividends in fiscal year 2025. This represents an increase of 7.1% from the prior year.

Shares Outstanding

93M

YoY-2.9%

5Y CAGR-5.7%

10Y CAGR-7.8%

Voya Financial Inc had 93M shares outstanding in fiscal year 2025. This represents a decrease of 2.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

12.7%

YoY+1.9pp

10Y CAGR+10.9pp

Voya Financial Inc's operating margin was 12.7% in fiscal year 2025, reflecting core business profitability. This is up 1.9 percentage points from the prior year.

Net Margin

8.0%

YoY-0.3pp

5Y CAGR+10.7pp

10Y CAGR+3.3pp

Voya Financial Inc's net profit margin was 8.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

13.2%

YoY-3.5pp

5Y CAGR+15.2pp

10Y CAGR+10.2pp

Voya Financial Inc's ROE was 13.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$200.0M

YoY-68.8%

5Y CAGR-17.3%

10Y CAGR-18.2%

Voya Financial Inc spent $200.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 68.8% from the prior year.

Capital Expenditures

N/A

VOYA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.2B+1.7%	$8.1B+9.6%	$7.3B+23.9%	$5.9B+42.1%	$4.2B-45.4%	$7.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$1.0B+19.3%	$870.0M-5.0%	$916.0M	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$104.0M+82.5%	$57.0M+211.8%	-$51.0M-920.0%	-$5.0M+85.3%	-$34.0M-88.9%	-$18.0M
Net Income	$654.0M-1.9%	$667.0M+6.7%	$625.0M+22.5%	$510.0M-78.5%	$2.4B+1250.5%	-$206.0M
EPS (Diluted)	$6.29+1.9%	$6.17+13.8%	$5.42+26.0%	$4.30-76.8%	$18.56+1108.7%	$-1.84

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.1B-0.8%	$2.1B+7.4%	$2.0B+0.6%	$2.0B-2.0%	$2.0B+2.8%	$2.0B-3.8%	$2.0B-0.9%	$2.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$20.0M-42.9%	$35.0M+29.6%	$27.0M+22.7%	$22.0M+2300.0%	-$1.0M-105.6%	$18.0M-56.1%	$41.0M+4200.0%	-$1.0M
Net Income	$140.0M-27.1%	$192.0M+15.7%	$166.0M+6.4%	$156.0M+60.8%	$97.0M-14.9%	$114.0M-44.4%	$205.0M-18.3%	$251.0M
EPS (Diluted)	N/A	$1.80+8.4%	$1.66+16.9%	$1.42	N/A	$0.98-50.0%	$1.96-12.5%	$2.24

VOYA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$178.9B+9.1%	$163.9B+4.3%	$157.1B+7.1%	$146.6B-14.4%	$171.3B-5.1%	$180.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.3B-11.0%	$1.5B+35.4%	$1.1B+11.0%	$1.0B-28.2%	$1.4B-6.7%	$1.5B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$378.0M+4.7%	$361.0M+6.5%	$339.0M	N/A	N/A	N/A
Goodwill	$804.0M+7.5%	$748.0M0.0%	$748.0M+128.7%	$327.0M+354.2%	$72.0M+50.0%	$48.0M
Total Liabilities	$171.8B+8.8%	$157.9B+4.5%	$151.0B+6.7%	$141.6B-12.3%	$161.4B-4.7%	$169.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.5B-27.8%	$2.1B+0.3%	$2.1B+0.1%	$2.1B-19.3%	$2.6B-14.8%	$3.0B
Total Equity	$5.0B+23.7%	$4.0B-4.5%	$4.2B+25.2%	$3.3B-59.4%	$8.3B-18.4%	$10.1B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$178.9B+0.8%	$177.4B+2.9%	$172.4B+5.2%	$163.9B0.0%	$163.9B-1.8%	$166.9B+3.5%	$161.3B-0.2%	$161.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.3B+5.6%	$1.3B-3.4%	$1.3B+30.8%	$1.0B-33.3%	$1.5B-2.0%	$1.5B+30.9%	$1.2B+0.3%	$1.2B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$378.0M+10.9%	$341.0M+5.6%	$323.0M-9.5%	$357.0M-1.1%	$361.0M+6.5%	$339.0M+14.1%	$297.0M-12.4%	$339.0M
Goodwill	$804.0M0.0%	$804.0M0.0%	$804.0M0.0%	$804.0M+7.5%	$748.0M0.0%	$748.0M0.0%	$748.0M0.0%	$748.0M
Total Liabilities	$171.8B+0.9%	$170.4B+2.7%	$165.9B+5.3%	$157.6B-0.2%	$157.9B-1.5%	$160.4B+3.2%	$155.4B-0.2%	$155.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.5B0.0%	$1.5B-8.4%	$1.7B-21.2%	$2.1B0.0%	$2.1B0.0%	$2.1B+23.2%	$1.7B0.0%	$1.7B
Total Equity	$5.0B-0.1%	$5.0B+7.1%	$4.6B+5.6%	$4.4B+9.4%	$4.0B-15.1%	$4.7B+16.7%	$4.0B-2.6%	$4.2B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VOYA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.3B-4.2%	$1.3B-17.9%	$1.6B+21.2%	$1.4B+6045.5%	$22.0M-98.4%	$1.4B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.4B-384.6%	$481.0M-81.0%	$2.5B+230.1%	-$1.9B-495.1%	-$327.0M+86.7%	-$2.5B
Financing Cash Flow	-$85.0M+94.1%	-$1.4B+64.8%	-$4.1B-14596.4%	$28.0M+110.6%	-$265.0M-115.6%	$1.7B
Dividends Paid	$178.0M+4.1%	$171.0M+34.6%	$127.0M+53.0%	$83.0M+130.6%	$36.0M0.0%	$36.0M
Share Buybacks	$200.0M-68.8%	$640.0M+73.4%	$369.0M-50.8%	$750.0M-32.6%	$1.1B+115.7%	$516.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$557.0M+231.5%	$168.0M-77.4%	$742.0M+514.5%	-$179.0M-326.6%	$79.0M-89.0%	$719.0M+127.5%	$316.0M+36.8%	$231.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$372.0M+48.2%	-$718.0M-37.0%	-$524.0M-313.9%	$245.0M+1165.2%	-$23.0M+95.3%	-$486.0M-428.3%	-$92.0M-108.5%	$1.1B
Financing Cash Flow	-$113.0M-122.4%	$505.0M+443.0%	$93.0M+116.3%	-$570.0M-555.2%	-$87.0M-165.9%	$132.0M+160.0%	-$220.0M+82.5%	-$1.3B
Dividends Paid	$45.0M+4.7%	$43.0M-8.5%	$47.0M+9.3%	$43.0M0.0%	$43.0M-2.3%	$44.0M+2.3%	$43.0M+4.9%	$41.0M
Share Buybacks	$100.0M0.0%	$100.0M	$0	$0-100.0%	$120.0M-30.2%	$172.0M-2.3%	$176.0M+2.3%	$172.0M

VOYA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	12.7%+1.9pp	10.8%-1.7pp	12.5%	N/A	N/A	N/A
Net Margin	8.0%-0.3pp	8.3%-0.2pp	8.5%-0.1pp	8.6%-48.2pp	56.8%+59.5pp	-2.7%
Return on Equity	13.2%-3.5pp	16.7%+1.7pp	14.9%-0.3pp	15.2%-13.5pp	28.7%+30.8pp	-2.0%
Return on Assets	0.4%-0.0pp	0.4%+0.0pp	0.4%+0.1pp	0.4%-1.0pp	1.4%+1.5pp	-0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.31-0.2	0.53+0.0	0.50-0.1	0.63+0.3	0.31+0.0	0.30
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	6.6%-2.4pp	9.0%+0.6pp	8.4%+0.5pp	7.9%+3.1pp	4.8%-1.0pp	5.8%-4.3pp	10.1%-2.2pp	12.2%
Return on Equity	2.8%-1.0pp	3.9%+0.3pp	3.6%+0.0pp	3.6%+1.1pp	2.4%0.0pp	2.4%-2.7pp	5.1%-1.0pp	6.0%
Return on Assets	0.1%-0.0pp	0.1%+0.0pp	0.1%0.0pp	0.1%+0.0pp	0.1%-0.0pp	0.1%-0.1pp	0.1%-0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.310.0	0.31-0.1	0.36-0.1	0.48-0.0	0.53+0.1	0.45+0.0	0.42+0.0	0.41
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Voya Financial Inc's annual revenue?

Voya Financial Inc (VOYA) reported $8.2B in total revenue for fiscal year 2025. This represents a 1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Voya Financial Inc's revenue growing?

Voya Financial Inc (VOYA) revenue grew by 1.7% year-over-year, from $8.1B to $8.2B in fiscal year 2025.

Is Voya Financial Inc profitable?

Yes, Voya Financial Inc (VOYA) reported a net income of $654.0M in fiscal year 2025, with a net profit margin of 8.0%.

How much debt does Voya Financial Inc have?

As of fiscal year 2025, Voya Financial Inc (VOYA) had $1.3B in cash and equivalents against $1.5B in long-term debt.

What is Voya Financial Inc's operating margin?

Voya Financial Inc (VOYA) had an operating margin of 12.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Voya Financial Inc's net profit margin?

Voya Financial Inc (VOYA) had a net profit margin of 8.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Voya Financial Inc pay dividends?

Yes, Voya Financial Inc (VOYA) paid $1.82 per share in dividends during fiscal year 2025.

What is Voya Financial Inc's return on equity (ROE)?

Voya Financial Inc (VOYA) has a return on equity of 13.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Voya Financial Inc's operating cash flow?

Voya Financial Inc (VOYA) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Voya Financial Inc's total assets?

Voya Financial Inc (VOYA) had $178.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Voya Financial Inc buy back shares?

Yes, Voya Financial Inc (VOYA) spent $200.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Voya Financial Inc have outstanding?

Voya Financial Inc (VOYA) had 93M shares outstanding as of fiscal year 2025.

What is Voya Financial Inc's debt-to-equity ratio?

Voya Financial Inc (VOYA) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Voya Financial Inc's return on assets (ROA)?

Voya Financial Inc (VOYA) had a return on assets of 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Voya Financial Inc's Piotroski F-Score?

Voya Financial Inc (VOYA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Voya Financial Inc's earnings high quality?

Voya Financial Inc (VOYA) has an earnings quality ratio of 1.97x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Voya Financial Inc?

Voya Financial Inc (VOYA) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.