Brighthouse Financial, Inc. (BHF)

Brighthouse Financial, Inc. provides annuity and life insurance products in the United States. The company operates through Annuities, Life, and Run-off segments. The Annuities segment offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security. The Life segment provides term, universal, whole, and variable life products for policyholders' needs for financial security and protected wealth transfer. The Run-off segment manages universal life with secondary guarantees, structured settlements, pension risk transfer contracts, various company-owned life insurance policies, and funding agreements. Brighthouse Financial, Inc. was founded in 1863 and is headquartered in Charlotte, North Carolina.

Ticker: BHF
Exchange: Nasdaq
Sector: Financial Services
Industry: Insurance - Life
Market cap: $2.45B
52-week range: $41.01 - $66.80

Valuation

Share price: $42.60 (close of Nov 6, 2026)
P/E (TTM): 4.32x
Price to book: 0.48x
Price to free cash flow: -2.17x
Enterprise value: -$2.92B
Book value per share: $88.26

Price performance

Period	Change
1 day	+3.65%
5 days	-3.01%
1 month	-14.85%
3 months	-31.48%
6 months	-31.92%
Year to date	-34.25%
1 year	-35.16%
3 years	-11.40%
5 years	-21.05%
All time	-39.14%

Short interest

As of: Oct 15, 2026
Short % of float: 13.58%
Shares short: 6.86M
Days to cover: 9.54
Change since prior report: -5.04%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 6.34%
Return on assets: 0.18%
Net margin: 6.40%
Revenue growth: 43.23%
Net income growth: 11.60%

Cash flow and balance sheet

Free cash flow yield (TTM): -46.16%
Net debt to EBITDA: -5.71x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $6.77B
Net income: $433.00M
Earnings per share: $5.75
Interest expense: $152.00M
Shares outstanding: 57.53M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$6.77B	$433.00M	$5.75
2024-12-31	$4.72B	$388.00M	$4.67
2023-12-31	$4.12B	-$1.11B	-$18.39
2022-12-31	$6.87B	$3.88B	$51.73
2021-12-31	$4.98B	$1.64B	$18.54
2020-12-31	$8.50B	-$1.06B	-$11.58
2019-12-31	$6.55B	-$740.00M	-$6.76
2018-12-31	$8.96B	$865.00M	$7.24
2017-12-31	$6.84B	-$378.00M	-$3.16
2016-12-31	$3.02B	-$2.94B	-$24.54

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	6.40%	6.34%
2024-12-31	8.21%	7.72%
2023-12-31	-27.01%	-22.20%
2022-12-31	56.44%	69.29%
2021-12-31	33.02%	19.44%
2020-12-31	-12.48%	-5.87%
2019-12-31	-11.29%	-4.56%
2018-12-31	9.65%	5.97%
2017-12-31	-5.52%	-2.59%
2016-12-31	-97.38%	-19.78%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$5.39B	$3.15B
2024-12-31	$6.91B	$3.15B
2023-12-31	$5.02B	$3.16B
2022-12-31	$5.20B	$3.16B
2021-12-31	$6.32B	$3.16B
2020-12-31	$7.35B	$3.44B
2019-12-31	$4.83B	$4.37B
2018-12-31	$4.14B	$3.96B
2017-12-31	$2.17B	$3.61B
2016-12-31	$6.52B	$1.91B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$259.00M	$42.00M
2024-12-31	-$290.00M	$23.00M
2023-12-31	-$137.00M	$29.00M
2022-12-31	-$1.23B	$22.00M
2021-12-31	$641.00M	$23.00M
2020-12-31	$888.00M	$21.00M
2019-12-31	$1.83B	$21.00M
2018-12-31	$3.06B	-
2017-12-31	$3.40B	-
2016-12-31	$3.74B	-

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$5.03
2026-08-05	Jun 2026	$4.98
2026-05-06	Mar 2026	$4.75
2026-02-23	Dec 2025	$5.19
2025-11-06	Sep 2025	$5.09
2025-08-07	Jun 2025	$4.70
2025-05-08	Mar 2025	$4.72
2025-02-11	Dec 2024	$4.44

Filings and sources

Company website: brighthousefinancial.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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