VOYA
Voya Financial, Inc.
Next earnings Aug 3, 2026 (after close) · consensus $2.42 EPS, $1.96B rev
Last earnings +1.3% on 2026-05-05
$94.37
▲ +3.86%$94.37▲ +36.91%
over 1Y
L $65.14H $94.37
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.9%
1W+5.4%
1M+14.3%
3M+41.3%
YTD+26.4%
1Y+36.9%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 19 analysts
Buy
Capital-light retirement/benefits/asset-management franchise at 14.3x with 13.2% ROE, rising operating income and active capital return.
Diluted EPS $6.29 · FY2025
The read
The fundamentals carry the rating, but the price is rich (~25% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Voya Financial is a workplace-benefits, retirement and investment-management business that has reoriented toward higher-quality, capital-light fee earnings. FY2025 was steady-to-improving: operating income rose 19.3% to $1.04B (a 46.0% operating margin), diluted EPS edged up 1.9% to $6.29, and net income held near flat at $654M. Equity grew 23.7% to $4.95B while the company deleveraged meaningfully — long-term debt fell 27.8% to $1.52B — and returned capital via $200M of buybacks and $178M of dividends (+4.1%), shrinking the share count 2.9%. Return on equity of 13.2% is solid for a diversified insurer/asset manager.
The business model lowers the risk profile relative to a traditional life insurer: revenue ($2.25B, +4.9%) is increasingly fee- and spread-based across retirement plan administration, employee benefits and Voya Investment Management. Net income has been stable in the $625M-$667M range across FY2023-FY2025 after the FY2021 spike, suggesting a durable run-rate. Operating cash flow of $1.29B comfortably funds the dividend and buybacks.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:52 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.98B | $1.69B | $1.94B | $2.15B | $2.25B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | $916M | $870M | $1.04B |
| Net income | $2.37B | $510M | $625M | $667M | $654M |
| Diluted EPS | $18.56 | $4.30 | $5.42 | $6.17 | $6.29 |
| Net margin | 119.5% | 30.2% | 32.2% | 31.0% | 29.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF7.0
PEG (trailing)—
Earnings yield7.6%
FCF yield14.3%
Quality & risk
ROIC (est.)11.6%
Free cash flow$1.22B
Total debt$2.10B
Net cash-$756M
Piotroski F-Score5/7
Capital returns
Buyback yield2.3%
Dividend yield (est.)2.1%
Shareholder yield4.4%
Shares Δ YoY-2.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-01open ↗11-KPeriod ending 2025-12-312026-06-24open ↗11-KPeriod ending 2025-12-312026-06-24open ↗4Period ending 2026-06-082026-06-10open ↗144Filing2026-06-08open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗
Frequently asked
- Is Voya Financial, Inc. (VOYA) a buy?
- VOYA currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Capital-light retirement/benefits/asset-management franchise at 14.3x with 13.2% ROE, rising operating income and active capital return.
- What is VOYA's fair value?
- A Modified-Graham model based on VOYA's SEC fundamentals estimates a fair value of about $70.67. It is an estimate from reported earnings, not a price target.
- Is VOYA overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, VOYA currently appears overvalued relative to its SEC-grounded earnings power.
- What is Voya Financial, Inc.'s quality score?
- VOYA scores 76.54612957663805/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001535929, latest 10-Q filed 2026-05-07) · EODHD · Proprietary analysis · as of 6/21/2026, 8:52:53 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.