Voya Financial, Inc. (VOYA) Stock Analysis
Financial Services · Financial Conglomerates · NYSE
Voya Financial, Inc. (VOYA) posted $8.19B in revenue for fiscal 2025 (up 1.7% year over year), at a 7.5% net margin, and has compounded revenue about 1.4%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Voya Financial, Inc.
Voya Financial, Inc. has grown revenue from $8.79B to $8.19B over the last 10 fiscal years, compounding about 1.4% a year. The most recent year was up 1.7%, roughly in line with its longer-run pace.
Net margin sits at 7.5%, down 0.3 points year over year. It carries about $2.69B of total debt.
At today's valuation the market is pricing in roughly -26.3% annual free-cash-flow growth — versus the -3.5% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven.
Synthesised from Voya Financial, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Voya Financial, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.79B | $7.23B | $7.16B | $7.48B | $7.65B | $4.17B | $6.18B | $6.82B | $8.05B | $8.19B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $-327.00M | $-2.99B | $762.00M | $-360.00M | $-206.00M | $2.37B | $474.00M | $589.00M | $626.00M | $613.00M |
| Net margin | -3.7% | -41.4% | 10.6% | -4.8% | -2.7% | 56.8% | 7.7% | 8.6% | 7.8% | 7.5% |
Source: Voya Financial, Inc. SEC filings (10-K). 15 years of history available in the interactive view.
Voya Financial, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into VOYA stock?
At today's market cap of $8.12B, Voya Financial, Inc. is priced for free-cash-flow growth of about -26.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $3.63B from the FY ending 2016-12-31). For comparison, free cash flow actually grew -3.5%/yr over the last five fiscal years and revenue 1.4%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 15 years of Voya Financial, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Voya Financial, Inc. financial history by metric
Compare Voya Financial, Inc. with peers
About Voya Financial, Inc.
Voya Financial, Inc. provides workplace benefits, and savings solutions and technologies in the United States and internationally. The company operates through three segments: Retirement, Investment Management and Employee Benefits. The Retirement segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees. This segment also provides wealth management services, such as individual retirement, managed, and brokerage accounts, as well as financial guidance and advisory services. This segment serves corporate, public and private school systems, higher education institutions, hospitals and healthcare facilities, other non-profit organizations, and state and local governments, as well as institutional clients and individual customers. The Employee Benefits segment offers various insurance products comprising stop loss, group life, group disability, whole and term life, critical illness, accident, and hospital indemnity insurance. This segment also provides worksite employee benefits, health account solutions, leave management, benefits administration, health plan enrollment, financial wellness, and decision support products and services to mid-size and large corporate employers and professional associations. The Investment Management segment provides fixed income, equity, multi-asset, and alternative products and solutions to individual investors, financial intermediaries, and institutional clients through its direct sales force, consultant channel, intermediary partners, banks, broker-dealers, and independent financial advisers. The company was formerly known as ING U.S., Inc. and changed its name to Voya Financial, Inc. in April 2014. Voya Financial, Inc. was founded in 1975 and is based in New York, New York.
Voya Financial, Inc. — frequently asked questions
What is Voya Financial, Inc.'s revenue?
Voya Financial, Inc. (VOYA) reported revenue of $8.19B for fiscal year 2025, up 1.7% from the prior year, according to its SEC filings.
Is Voya Financial, Inc. profitable?
Yes. VOYA earned net income of $613.00M in fiscal 2025, a net margin of 7.5%.
What is VOYA's P/E ratio?
Voya Financial, Inc. trades at a price-to-earnings ratio of about 13.5 based on the latest data in our nightly-refreshed cache.
How fast is Voya Financial, Inc. growing?
VOYA's revenue grew at roughly 1.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Voya Financial, Inc. have?
As of fiscal year 2025, VOYA carried roughly $2.69B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Voya Financial, Inc.'s market cap?
Voya Financial, Inc. (VOYA) has a market capitalization of about $8.12B, based on the latest data in our nightly-refreshed cache.
When does Voya Financial, Inc.'s fiscal year end?
VOYA's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into VOYA stock?
At today's market cap of $8.12B, Voya Financial, Inc. is priced for free-cash-flow growth of about -26.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $3.63B from the FY ending 2016-12-31). For comparison, free cash flow actually grew -3.5%/yr over the last five fiscal years and revenue 1.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Voya Financial, Inc.'s official SEC filings (10-K and 10-Q), covering 15 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.