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Held by 104 of 2,417 reporting institutions (90th percentile) — extremely crowded.
Data as of Q3 2026
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No trend data available for this metric.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Leverage ratios is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
$587.0M of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Thin coverage — earnings barely cover interest. Effective rate ~5.8% on $3.04B of debt. Interest last disclosed in FY2019 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Ranked against 10 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MET | $64.1B | 21.4× | 6.8× | 0.8× | 8.6% | — | 4.4% | 11.9% | 11.8% | -3.5× | 461 |
| RGA | $17.2B | 14.9× | — | 0.7× | 7.2% | — | 5.0% | 8.8% | 6.2% | — | 159 |
| GL | $12.3B | 11.4× | — | 2.1× | 3.7% | — | 19.4% | 19.4% | 13.5% | — | 166 |
| VOYA | $8.9B | 15.6× | — | 1.1× | 1.7% | — | 8.0% | 13.2% | 9.3% | — | 104 |
| PRI | $8.7B | 12.4× | — | 2.6× | 6.6% | — | 22.8% | 30.7% | 30.7% | — | 123 |
| LNC | $7.9B | 7.1× | — | 0.4× | -1.2% | — | 6.5% | 10.8% | 6.9% | — | 156 |
| PFH | $5.3B | 1.5× | — | 0.1× | -13.7% | — | 5.9% | 11.0% | 6.8% | — | — |
| GNW | $3.4B | 16.7× | — | 0.5× | 0.1% | — | 3.1% | 2.5% | 2.2% | — | 75 |
| FG | $2.8B | 11.2× | — | 0.5× | -0.2% | — | 4.6% | 5.5% | 3.8% | — | 83 |
| BHF | $2.5B | 7.5× | — | 0.4× | 43.2% | — | 6.4% | 6.4% | 4.4% | — | 119 |
| UTGN | $192M | 11.3× | — | 4.5× | -50.1% | — | 40.3% | 7.4% | 7.4% | — | — |
Peers = companies sharing VOYA's sector (Life Insurance) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 14% of free cash flow, leaving room to grow it and fund buybacks. Last year: $178.0M dividends + $200.0M buybacks = $378.0M returned on $1.29B FCF.
5 consecutive years of dividend increases · 53%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
A reverse discounted cash flow is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Classified from the filings: SIC code.
EOD close · as of 2026-10-29
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.19B 100.0% | $8.05B 100.0% | $7.35B 100.0% | $5.93B 100.0% | $4.17B 100.0% | $7.65B 100.0% | $7.48B 100.0% | $7.16B 100.0% | $7.23B 100.0% | $8.79B 100.0% |
| Total Operating Expenses | $3.45B 42.1% | $3.08B 38.3% | $3.10B 42.1% | $2.54B 42.9% | $2.59B 62.0% | $2.65B 34.7% | $2.75B 36.8% | $2.60B 36.3% | $2.56B 35.4% | $2.65B 30.2% |
| Operating Income | $1.04B 12.7% | $870.0M 10.8% | $916.0M 12.5% | — | — | — | — | — | — | $114.5M 1.3% |
| Interest Expense | — | — | — | — | — | — | $176.0M 2.4% | $221.0M 3.1% | $184.0M 2.5% | $288.0M 3.3% |
| Other Income (Expense), net | — | — | — | $148.0M 2.5% | $579.0M 13.9% | $409.0M 5.3% | $465.0M 6.2% | $443.0M 6.2% | $379.0M 5.2% | $342.0M 3.9% |
| Pretax Income | $837.0M 10.2% | $799.0M 9.9% | $678.0M 9.2% | $428.0M 7.2% | $3.08B 73.9% | $352.0M 4.6% | $574.0M 7.7% | $521.0M 7.3% | $385.0M 5.3% | $777.3M 8.8% |
| Income Tax Expense | $104.0M 1.3% | $57.0M 0.7% | -$51.0M -0.7% | -$5.0M -0.1% | -$34.0M -0.8% | -$18.0M -0.2% | -$217.0M -2.9% | $39.0M 0.5% | $687.0M 9.5% | -$29.0M -0.3% |
| Net Income | $654.0M 8.0% | $667.0M 8.3% | $625.0M 8.5% | $510.0M 8.6% | $2.37B 56.8% | -$206.0M -2.7% | -$360.0M -4.8% | $762.0M 10.6% | -$2.99B -41.4% | -$327.0M -3.7% |
| Per Share | ||||||||||
| EPS (Basic) | $6.40 | $6.31 | $5.74 | $4.70 | $20.02 | -$1.90 | -$2.75 | $4.67 | -$16.25 | -$1.63 |
| EPS (Diluted) | $6.29 | $6.17 | $5.42 | $4.30 | $18.56 | -$1.84 | -$2.64 | $4.53 | -$16.25 | -$1.61 |
| Weighted Avg Shares (Basic) | 95.8M | 99.2M | 102.7M | 100.7M | 116.7M | 127.4M | 141.0M | 163.2M | 184.1M | 200.8M |
| Weighted Avg Shares (Diluted) | 97.4M | 101.4M | 108.8M | 110.2M | 125.8M | 131.9M | 147.0M | 168.2M | 184.1M | 202.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-26 | Ogle Trevor See Remarks | 10b5-1 plan sale | 2,093 | $95.81 | $201k |
| 2026-09-30 | Gillis Ruth Ann M Director | Grant | 89 | $94.48 | — |
| 2026-08-21 | 2 co-filers See Remarks | Option exercise2d late | 35,587 | $37.50 | $1.3m |
| 2026-08-21 | 2 co-filers See Remarks | Option exercise2d late | 35,587 | $0.00 | — |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 2026-08-16 | 3 co-filers Group filing | Option exercise | 1,645 | $0.00 | $0 |
| 2026-08-16 | 3 co-filers Group filing | Tax withholding | 730 | $100.14 | $73k |
| 2026-08-16 | 3 co-filers Group filing | Option exercise | 1,645 | $0.00 | — |
| 2026-06-30 | Gillis Ruth Ann M Director | Grant | 79 | $90.53 | — |
| 2026-06-08 | Ogle Trevor See Remarks | 10b5-1 plan sale | 3,994 | $90.00 | $359k |
| 2026-05-21 | Ersek Hikmet Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | $0 |
| 2026-05-21 | Mullaney William J Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | Lewis Aylwin B Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | Leary Robert G Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | Gillis Ruth Ann M Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | Derose Kathleen Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | $0 |
| 2026-05-21 | Biggar Lynne Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | Bowman Biff Director | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | $0 |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 2,547 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | 3 co-filers Group filing | Grant | 2,062 | $82.42 | — |
| 2026-05-21 | 3 co-filers Group filing | Grant | 2,062 | $82.42 | — |
| 2026-03-31 | Gillis Ruth Ann M Director | Grant | 104 | $68.32 | — |
| 2026-03-02 | Ogle Trevor See Remarks | 10b5-1 plan sale | 1,689 | $65.00 | $110k |
| 2026-02-20 | Oh Tony D See Remarks | Open-market sale | 3,515 | $73.78 | $259k |
| 2026-02-20 | Ogle Trevor See Remarks | 10b5-1 plan sale | 8,536 | $73.81 | $630k |
| 2026-02-18 | 2 co-filers Group filing | Option exercise | 197 | $74.51 | $15k |
| 2026-02-18 | 2 co-filers Group filing | Option exercise | 197 | $0.00 | — |
| 2026-02-17 | 8 co-filers See Remarks | Option exercise4d late | 683 | $0.00 | $0 |
| 2026-02-17 | 7 co-filers See remarks. | Option exercise | 452 | $0.00 | $0 |
| 2026-02-17 | 3 co-filers Group filing | Grant | 6,469 | $0.00 | — |
| 2026-02-17 | 5 co-filers Group filing | Option exercise | 17,675 | $0.00 | $0 |
| 2026-02-17 | 7 co-filers Group filing | Option exercise | 2,576 | $0.00 | $0 |
| 2026-02-17 | 7 co-filers See Remarks | Option exercise | 3,349 | $0.00 | $0 |
| 2026-02-17 | 7 co-filers See Remarks | Option exercise | 4,250 | $0.00 | $0 |
| 2026-02-17 | 7 co-filers See Remarks | Option exercise | 4,722 | $0.00 | $0 |
EOD close · as of 2026-10-29
Where each multiple sits in its own 13-yr range · 94th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 13% against ROIC 9% — 4% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 14.6% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 11.2× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Income | — | — | — | — | — | 12.5 | 10.8 | 12.7 |
| Income Tax | 0.5 | -2.9 | -0.2 | -0.8 | -0.1 | -0.7 | 0.7 | 1.3 |
| Net Income | 10.6 | -4.8 | -2.7 | 56.8 | 8.6 | 8.5 | 8.3 | 8.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VOYA: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | 1.3% | -3.7% |
| FY2017 | not reported | 0.1% | -41.4% |
| FY2018 | not reported | 1.1% | 10.6% |
| FY2019 | not reported | 1.5% | -4.8% |
| FY2020 | not reported | -0.7% | -2.7% |
| FY2021 | not reported | 60.0% | 56.8% |
| FY2022 | not reported | 4.7% | 8.6% |
| FY2023 | not reported | 12.5% | 8.5% |
| FY2024 | not reported | 10.8% | 8.3% |
| FY2025 | not reported | 12.7% | 8.0% |
Leverage and buybacks account for 4 points of the 13% return on equity in FY2025. The business earns 9% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: wacc.
Converts 1.85x of reported profit into free cash flow over 5 years, with accruals negative.
The cash conversion cycle could not be computed — receivables, inventory or cost of revenue is not reported — so the earliest accrual warning is not part of this verdict.
Leverage is not measurable this way for a insurer.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025. No cash figure on the matching balance sheet, so no coverage line is drawn.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $98.39, free cash flow must compound -5.53%/yr for 10 years. It has done -0.28%/yr over 6 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 4.0% | −5.5% |
| FY2021 | −98.4% | −5.5% |
| FY2022 | 6045.5% | −5.5% |
| FY2023 | 21.2% | −5.5% |
| FY2024 | −17.9% | −5.5% |
| FY2025 | −4.2% | −5.5% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2020, so part of it measures the restatement rather than the business.
| Step | Amount | Running total |
|---|---|---|
| Net income | $654M | $654M |
| Share-based comp | $72M | $726M |
| Other non-cash & working capital | $562M | $1.29B |
| Operating cash flow | $1.29B | $1.29B |
| Capex | $0 | $1.29B |
| Free cash flow | $1.29B | $1.29B |
| FCF after SBC | $1.22B | $1.22B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 2.3% | not reported | not reported |
| FY2021 | -45.4% | not reported | not reported |
| FY2022 | 42.1% | not reported | not reported |
| FY2023 | 23.9% | not reported | not reported |
| FY2024 | 9.6% | 6.5% | -3.1 points |
| FY2025 | 1.7% | 4.7% | 3.0 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | not reported | not reported | not reported | not reported |
| FY2020 | not reported | not reported | not reported | not reported |
| FY2021 | not reported | not reported | not reported | not reported |
| FY2022 | not reported | not reported | not reported | not reported |
| FY2023 | 16.8 days | not reported | not reported | not reported |
| FY2024 | 16.4 days | not reported | not reported | not reported |
| FY2025 | 16.8 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -1.0 percent |
| FY2020 | -0.9 percent |
| FY2021 | 1.4 percent |
| FY2022 | -0.6 percent |
| FY2023 | -0.6 percent |
| FY2024 | -0.4 percent |
| FY2025 | -0.3 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.