# Brighthouse Financial, Inc. (BHFAP)

> Source: Nexqual · https://nexqual.com/BHFAP · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Brighthouse Financial, Inc. (BHFAP), nexqual.com/BHFAP" · informational, not investment advice.

**Price:** USD 12.54 (-0.56% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 12.61 · day 12.52–12.66 · 52w 12.36–17.95 · market cap null · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.65B, net income $831M (12.5% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y -10.8% vs S&P 500 +13.4%; 5Y -32.4% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.98B | $6.87B | $4.12B | $4.72B | $6.77B | $6.65B |
| Net income | $1.64B | $3.88B | -$1.11B | $388M | $433M | $831M |
| EPS (diluted) | $18.39 | $51.30 | -$18.39 | $4.64 | $5.71 | — |
| Net margin | 33.0% | 56.4% | -27.0% | 8.2% | 6.4% | 12.5% |
| Revenue growth | -41.5% | +38.1% | -40.1% | +14.7% | +43.2% | — |
| Cash + short-term investments | $6.32B | $5.20B | $5.02B | $6.91B | $6.58B | — |
| Total debt | $3.16B | $3.16B | $3.16B | $3.15B | $3.15B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 2.0x, Dec 2024 3.4x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -10.8% | -32.4% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -10.8% | -7.5% |
| Volatility (annualized) | 21.8% | 23.3% |
| Max drawdown | -21.5% (Feb 2026→Oct 2026) | -40.8% (Nov 2024→Oct 2026) |

## Peers (Insurance - Life)
MFC (Manulife Financial Corporation) USD 44.26 -2.98% · MET (MetLife, Inc.) USD 98.82 -4.59% · AFL (AFLAC Incorporated) USD 120.51 -2.24% · PRU (Prudential Financial, Inc.) USD 114.99 -2.69% · PUK (Prudential Public Limited Compa) USD 23.7 -1.29% · UNM (Unum Group) USD 90.28 -3.70%

## More
Full page: https://nexqual.com/BHFAP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BHFAP's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1685040/000168504026000011/bhf-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | METLIFE INC (MET) | "Under the tax separation agreement with MetLife, Inc. (the "Tax Separation Agreement"), MetLife is generally obligated to indemnify us against such taxes if the failure to qualify for tax-free treatment results from, amo…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Annuities | $852.0M | 52.5% | +321.8% | $349.0M | 41.0% |
| Run-off | $358.0M | 22.1% | +71.3% | -$56.0M | -15.6% |
| Life | $265.0M | 16.3% | -1.5% | -$4.0M | -1.5% |
| Corporate Segment and Other Operating | $147.0M | 9.1% | -23.0% | -$31.0M | -21.1% |
| Total revenue | $1.62B | 100% | — | $258.0M | 15.9% |

## Company outlook (8-K filed 2026-08-05)

- "The merger is expected to close in 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | — | — | — | $2.21B | — |
| Next quarter (ends 2026-12-31) | — | — | — | $2.20B | — |
| Current fiscal year (ends 2026-12-31) | — | — | — | $8.64B | — |
| Next fiscal year (ends 2027-12-31) | — | — | — | $8.80B | — |