# Voya Financial, Inc. (VOYA)

> Source: Nexqual · https://nexqual.com/VOYA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Voya Financial, Inc. (VOYA), nexqual.com/VOYA" · informational, not investment advice.

**Price:** USD 98.42 (+2.16% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 96.34 · day 95.65–98.61 · 52w 64.5–105.64 · market cap $8.92B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $8.17B, net income $608M (7.4% margin) (SEC filings).
- Valuation: P/E 14.7x (avg 11.4x at the last 3 fiscal year-ends), net debt $1.02B.
- 3 of 80 tracked superinvestors hold VOYA (13F, Q2 2026): 2 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (12 analysts), mean target USD 107.83 (range 90–127).
- Total return with dividends: 1Y +37.9% vs S&P 500 +14.9%; 5Y +56.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 2.59, revenue estimate $1.96B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.17B | $5.93B | $7.35B | $8.05B | $8.19B | $8.17B |
| Operating income | — | — | $916M | $870M | $1.04B | — |
| Net income | $2.37B | $510M | $625M | $667M | $654M | $608M |
| EPS (diluted) | $18.56 | $4.30 | $5.42 | $6.17 | $6.29 | — |
| Operating margin | — | — | 12.5% | 10.8% | 12.7% | — |
| Net margin | 56.8% | 8.6% | 8.5% | 8.3% | 8.0% | 7.4% |
| Revenue growth | -45.4% | +42.1% | +23.9% | +9.6% | +1.7% | — |
| Cash + short-term investments | $1.40B | $1.01B | $1.12B | $1.51B | $1.35B | — |
| Total debt | $2.60B | $2.23B | $2.10B | $2.50B | $2.10B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.7x · P/S 1.1x · EV/Sales 1.2x · P/B 1.9x · Earnings yield 6.82% · Dividend yield (paid, TTM) 2.01% · Buyback yield (TTM) 5.61% · Net debt $1.02B · EV $9.93B
P/E at fiscal year-ends: Dec 2025 11.1x, Dec 2024 10.5x, Dec 2023 12.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold VOYA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 1.08% | $120M | New position |
| Richard Pzena | Pzena Investment Management | 0.94% | $320M | Reduced -3.9% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $1.4M | New position |

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 12 analysts; mean target USD 107.83 (low 90, high 127).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | JP Morgan | Target lowered | Neutral | $109 → $105 |
| 2026-10-12 | Wells Fargo | Target lowered | Equal-Weight | $104 → $102 |
| 2026-10-09 | Keefe, Bruyette & Woods | Downgrade | Outperform → Market Perform | $110 → $108 |
| 2026-10-07 | Barclays | Target raised | Overweight | $105 → $109 |
| 2026-10-07 | Evercore ISI Group | Target lowered | Outperform | $111 → $110 |
| 2026-10-06 | UBS | Target raised | Buy | $125 → $127 |
| 2026-08-24 | Morgan Stanley | Target raised | Overweight | $92 → $105 |
| 2026-08-19 | Wells Fargo | Target raised | Equal-Weight | $100 → $104 |
| 2026-08-11 | JP Morgan | Target raised | Neutral | $105 → $109 |
| 2026-08-11 | Keefe, Bruyette & Woods | Target raised | Outperform | $109 → $110 |
| 2026-08-07 | Evercore ISI Group | Target raised | Outperform | $107 → $111 |
| 2026-08-06 | RBC Capital | Target raised | Outperform | $107 → $110 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +37.9% | +56.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +38.1% | +9.4% |
| Volatility (annualized) | 25.7% | 26.6% |
| Max drawdown | -16.5% (Jan 2026→Mar 2026) | -31.6% (Oct 2024→Apr 2025) |

## Peers (Financial Conglomerates)
FRHC (Freedom Holding Corp.) USD 167.49 -2.76% · HTH (Hilltop Holdings Inc.) USD 37.28 +2.14% · IX (ORIX Corporation) USD 36.72 -0.78% · TMS (Teamshares Inc.) USD 5.01 +1.73%

## More
Full page: https://nexqual.com/VOYA · 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

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.59 | $2.49 | +3.9% | $1.96B | 12 |
| Next quarter (ends 2026-12-31) | $2.67 | $2.60 | +2.6% | $1.98B | 9 |
| Current fiscal year (ends 2026-12-31) | $9.08 | $9.38 | -3.3% | $7.74B | 12 |
| Next fiscal year (ends 2027-12-31) | $11.31 | $11.27 | +0.4% | $8.09B | 11 |