VOYA Voya Financial, Inc.

Overview and Growth

Fiscal 2025 results for Voya Financial, Inc. combined $8.19B of revenue with net income of $654.00M and an operating cash inflow of $1.29B. Revenue of $8.19B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 1.7% above fiscal 2024 revenue of $8.05B, marking a year-over-year increase. The company reported diluted EPS of $6.29, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $6.17 in fiscal 2024, the current result was 1.9% higher. A diluted share base of 97.40M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Total assets stood at $178.86B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.05x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operating income was $1.04B, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 12.7% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $654.00M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 8.0% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $837.00M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 10.2%, relating income before taxes directly to revenue. Income tax expense totaled $104.00M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 12.4%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 9.6%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 0.4%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $667.00M to $654.00M, with the current outcome ending below that comparison.

Liquidity and Capital Structure

The company held $178.86B of assets against $171.82B of liabilities and $6.82B of equity, revealing how the asset base was financed. Cash and equivalents totaled $1.35B, identifying the most liquid reported component available within the broader current-asset balance. Total debt was $2.10B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.31x, showing how much debt the company carried for each unit of book equity. Debt represented 1.2% of total assets, placing borrowing in the context of the company’s full resource base. Equity equaled 3.8% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 96.1% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 0.8%, comparing reported cash and equivalents with the full positive asset balance. Compared with $163.89B in fiscal 2024, the current asset base moved 9.1% and finished higher. Reported equity changed 17.8% from $5.79B in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 11.0% from $1.51B in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $1.29B, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.97x, showing the relationship between accrual earnings and operating cash. Operating cash flow of $1.29B finished below fiscal 2024 operating cash flow of $1.34B, showing the year-over-year direction of cash generation.

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