EQH Equitable Holdings, Inc.

Overview and Growth

In fiscal 2025, Equitable Holdings, Inc. recorded $11.66B of revenue, net loss of $1.38B, and an operating cash inflow of $714.00M. At $11.66B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 6.1% from $12.43B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was -$4.83, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS decreased by 230.9% from $3.69 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Diluted shares averaged 298.10M; this is the reported share base over which the company’s diluted per-share earnings were spread. The diluted share count was 8.2% lower than fiscal 2024, when diluted shares averaged 324.80M, adding context to the EPS comparison. Total assets stood at $317.99B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.04x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After all below-operating-line items, the company recorded a net loss of $1.38B for the fiscal year. The net loss equaled 11.8% of revenue, showing the bottom-line deficit relative to the company’s sales base. The pretax result was a loss of $1.19B, establishing the deficit before tax effects. The pretax loss equaled 10.2% of revenue, measuring the pre-tax deficit against sales. An income-tax benefit of $156.00M improved the final result relative to pretax income or loss. Relative to period-end equity, the net loss represented 94.1%. The loss-to-assets relationship was 0.4%, placing the bottom-line deficit against the company’s resource base. A $1.38B net loss replaced fiscal 2024 net income of $1.28B.

Liquidity and Capital Structure

At period end, the $317.99B asset base was financed through $316.20B of liabilities and $1.47B of equity. The company held $12.46B in cash and equivalents, a narrower liquidity measure than total current assets. Borrowings totaled $3.86B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 2.63x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 1.2% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 0.5% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 99.4% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 3.9% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 7.5% from $295.73B in fiscal 2024, leaving current total assets higher year over year. Reported equity changed 57.2% from $3.42B in fiscal 2024, placing the current capital base lower year over year. Compared with $6.96B in fiscal 2024, the current cash balance moved 78.9% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $714.00M, a reported cash inflow that can be compared directly with net income and capital spending. Compared with $2.01B in fiscal 2024, current operating cash flow of $714.00M was below the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.