VOYA-PBNYSELife InsuranceUS GAAP · USD

Voya Financial, Inc.

Voya Financial is a U.S.-based financial services holding company organized around retirement, investment management, and employee benefits. Through its subsidiaries, it serves employers, plan participants, individual investors, institutions, and group benefits customers, with operations centered in the United States and a global asset-management footprint in Europe and Asia.

Kysy yhtiöstä
Liikevaihto8 189milj. USD
+1,7 %v/v
Liikevoitto (EBIT)1 038milj. USD
+19,3 %v/v
EBIT-marginaali12,7%
+1,9 %-yks.v/v
Nettotulos654milj. USD
−1,9 %v/v
Vapaa kassavirta1 288milj. USD
−4,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

02 0004 0006 0008 00010 000milj. USD2020: 7 649 milj. USD20202021: 4 174 milj. USD20212022: 5 930 milj. USD20222023: 7 348 milj. USD2023: EBIT 916 milj. USD20232024: 8 050 milj. USD2024: EBIT 870 milj. USD20242025: 8 189 milj. USD2025: EBIT 1 038 milj. USD20258 1891 038
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Voya Financial, Inc.

Liiketoiminta

Osuus liikevaihdosta
Retirement solutions40 %

Plan administration, recordkeeping, participant accounts, and workplace retirement services.

Investment management30 %

Public and private fixed income, equities, multi-asset, and alternative strategies.

Employee benefits25 %

Supplemental health, life, disability, voluntary insurance, and HSA/FSA products.

Benefits administration technology5 %

Open-architecture benefits administration and utilization solutions through Benefitfocus.

Asiakkaat

Voya sells primarily to U.S. employers, their employees, and retirement plan participants, while its asset-management business serves institutional clients, financial intermediaries, and individual investors. Its employee benefits products are bought by employers and health plans to cover workers and manage benefits administration, and its retail wealth offerings are used by individuals seeking IRA and advice solutions.

U.S. employers

Buy retirement plans, employee benefits, and benefits administration tools to support workforce financial and health coverage.

Plan participants

Use workplace retirement accounts, advice, and savings solutions offered through employer-sponsored channels.

Institutional clients

Buy fixed income, equity, multi-asset, and alternative strategies for portfolios and liability-driven needs.

Retail investors

Buy IRA accounts, financial planning, and retail investment products through intermediary channels.

Health plans and benefits administrators

Use open-architecture benefits administration and utilization solutions to manage employee benefits workflows.

Strategia

Voya’s strategy centers on a capital-light mix of retirement, benefits, and asset-management businesses that generate fee-based, spread-based, and underwriting revenue. The company emphasizes scale in workplace solutions, broader distribution, and disciplined capital deployment while managing risk across its insurance and investment portfolios.

Grow retirement scale and capabilitiesKeskipitkä aikaväli

Retirement is a core workplace franchise and scale improves distribution, servicing, and operating leverage.

Expand asset-management distributionKeskipitkä aikaväli

Broader distribution supports AUM growth and diversifies the client base across retail and institutional channels.

Maintain a capital-light, diversified earnings mixPitkä aikaväli

Diversification across fee-based, spread-based, and underwriting revenue supports resilience through market cycles.

Deploy capital prudently and return excess capitalLyhyt aikaväli

Holding-company flexibility and subsidiary dividend capacity are central to funding operations and shareholder returns.

Maantiede

Voya’s core business is concentrated in the United States, where it serves employers, plan participants, and group benefits customers. Its investment-management platform also has distribution and client relationships in Europe and Asia, and the company maintains a global services capability center in India.

Riskit

Voya is exposed to market, credit, liquidity, and interest-rate risk because its businesses depend on investment performance, policyholder behavior, and capital-market conditions. It also relies on intermediaries, subsidiary dividend capacity, and complex insurance and asset-management relationships, which can be disrupted by rating pressure, regulation, technology failures, or adverse experience.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Interest-rate and market volatility1Credit and investment impairment risk2Subsidiary dividend and capital transfer restrictions3Distribution and intermediary dependence4Operational and cybersecurity disruption5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Interest-rate and market volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company’s retirement, insurance, and asset-management businesses are sensitive to rates, spreads, and market levels.

    KohdistuuStable value productsInvested assetsAUMPolicyholder behavior
  2. Credit and investment impairment riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Declines in asset values or defaults can reduce investment income and require impairments or allowances.

    KohdistuuFixed maturitiesMortgage loansAlternative investments
  3. Subsidiary dividend and capital transfer restrictionsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The parent company depends on operating subsidiaries for cash, and insurance regulation can limit upstream distributions.

    Kohdistuu: Holding-company liquidity and debt service

  4. Distribution and intermediary dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Sales depend on banks, broker-dealers, advisers, and other intermediaries that can change relationships or economics.

    Kohdistuu: Retail wealth and investment management channels

  5. Operational and cybersecurity disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Technology failures or data breaches could interrupt servicing, damage trust, and create legal or remediation costs.

    KohdistuuRetirement administrationBenefits platformsClient data
Kysy Clarifolta: Voya Financial, Inc.

Kirjanpito

Harkinnanvaraiset erät
Insurance reserves and policyholder assumptions

Reserve estimates depend on mortality, morbidity, lapse, and other experience assumptions that can change over time.

Vaikutus: Affects benefit expense, liabilities, and earnings volatility

Investment impairments and credit losses

Fixed maturities and mortgage loans can require allowances or impairments when credit quality deteriorates.

Vaikutus: Affects investment income and reported capital

Fair value measurements and derivatives

Market-based valuation of investments, hedges, and embedded exposures can create earnings swings.

Vaikutus: Affects net investment results and balance-sheet volatility

Goodwill and intangible asset impairment

Acquisitions and distribution relationships create intangible assets that must be tested for impairment.

Vaikutus: Could create non-cash charges if expected cash flows weaken

Subsidiary dividend capacity

Parent-company liquidity depends on upstream cash flows from regulated subsidiaries.

Vaikutus: Affects capital allocation, debt service, and buybacks

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Päivitetty: 24.9.2026

Voya Financial, Inc. (NYSE) – Life Insurance | Analyysi – Clarifo