Equitable Holdings, Inc. (EQH)

Equitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Asset Management, Protection Solutions, Wealth Management, and Legacy. The Individual Retirement variable annuity products, including structured capital strategies, retirement cornerstone, and investment edge primarily to affluent and high net worth individuals. The Group Retirement provides tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities, and not-for-profit entities, as well as small and medium-sized businesses. It offers guaranteed and structured investment option, and personal income benefit variable annuity products and open architecture mutual fund platform. The Asset Management segment offers investment management and related services to various clients through institutions, retail, and private wealth management. The Protection Solutions segment provides life insurance products, such as VUL and COLI insurance, IUL insurance, and term life; and employee benefits business which includes group life, supplemental life, dental, vision, short-term disability, long-term disability, critical illness, accident and hospital indemnity insurance products to small and medium-sized businesses. The Wealth Management segment offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products. The Legacy segment consists of the capital intensive fixed-rate GMxB business that includes ROP death benefits. The company was formerly known as AXA Equitable Holdings, Inc. and changed its name to Equitable Holdings, Inc. in January 2020. Equitable Holdings, Inc. was founded in 1859 and is based in New York, New York.

Ticker
EQH
Exchange
NYSE
Sector
Financial Services
Industry
Asset Management
52-week range
$35.19 - $56.83

Valuation

Share price
$52.66 (close of Nov 6, 2026)
P/E (TTM)
10.03x
Price to book
-78.11x
Price to free cash flow
5.40x
Book value per share
$-0.67

Price performance

PeriodChange
1 day-0.47%
5 days-2.21%
1 month-3.38%
3 months+0.94%
6 months+20.45%
Year to date+10.51%
1 year+17.36%
3 years+98.19%
5 years+49.64%
All time+158.90%

Short interest

As of
Oct 15, 2026
Short % of float
2.33%
Shares short
5.80M
Days to cover
2.30
Change since prior report
+6.06%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-94.13%
Return on assets
-0.43%
Net margin
-11.83%
Revenue growth
-6.12%
Net income growth
-207.81%
Free cash flow growth
-64.41%

Cash flow and balance sheet

Free cash flow yield (TTM)
18.53%
Net debt to EBITDA
-6.93x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$11.66B
Net income
-$1.38B
Earnings per share
$-4.83
Interest expense
$224.00M
Shares outstanding
298.10M

Income statement by year

Period endRevenueNet incomeEPS
2025-12-31$11.66B-$1.38B-$4.83
2024-12-31$12.43B$1.28B$3.74
2023-12-31$10.46B$1.28B$3.44
2022-12-31$12.64B$2.15B$5.49
2021-12-31$7.61B$1.75B$4.02
2020-12-31$12.41B-$648.00M-$1.56
2019-12-31$9.62B-$1.76B-$3.57
2018-12-31$12.07B$1.85B$3.33
2017-12-31$12.46B$834.00M$1.49
2016-12-31$11.76B$1.25B$2.24

Margins and returns by year

Period endNet marginReturn on equity
2025-12-31-11.83%-94.13%
2024-12-3110.30%37.39%
2023-12-3112.27%29.33%
2022-12-3117.03%67.96%
2021-12-3123.05%14.71%
2020-12-31-5.22%-3.77%
2019-12-31-18.34%-11.72%
2018-12-3115.37%12.07%
2017-12-316.69%5.08%
2016-12-3110.66%8.62%

Cash and debt by year

Period endCashDebt
2025-12-31$12.46B$3.83B
2024-12-31$6.96B$3.83B
2023-12-31$8.24B$3.82B
2022-12-31$4.28B$3.32B
2021-12-31$5.19B$3.84B
2020-12-31$6.18B-
2019-12-31$4.41B-
2018-12-31$4.47B-
2017-12-31$4.81B-
2016-12-31$5.65B-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$714.00M$262.00M
2024-12-31$2.01B$313.00M
2023-12-31-$208.00M$294.00M
2022-12-31-$250.00M$328.00M
2021-12-31-$193.00M$274.00M
2020-12-31-$61.00M$252.00M
2019-12-31-$216.00M$276.00M
2018-12-31$61.00M$228.00M
2017-12-31-$243.00M$247.00M
2016-12-31-$236.00M$213.00M

Dividend history

Most recent payment
Aug 3, 2026
Paid in the last twelve months
$1.14
Payment dateDividend per share
2026-08-03$0.30
2026-06-01$0.30
2026-03-04$0.27
2025-11-24$0.27
2025-08-05$0.27
2025-06-02$0.27
2025-03-05$0.24
2024-11-26$0.24

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-02Sep 2026$1.87
2026-08-04Jun 2026$1.66
2026-05-04Mar 2026$1.60
2026-02-04Dec 2025$1.75
2025-11-04Sep 2025$1.59
2025-08-05Jun 2025$1.28
2025-04-29Mar 2025$1.49
2025-02-05Dec 2024$1.61

Filings and sources

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

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