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Voya Financial (VOYA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Voya Financial
NYSE•Financial Services•Financial Conglomerates
$104.09-0.77(-0.01%)Pre-market
Market Cap
$9.11B
P/E
15.0x
P/S
1.1x
P/B
1.9x

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.

B

How this company scores

GoodMetricSide Score: 66/100

Strongest: Profitability (18/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability18/25
Growth17/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality16/25
Strengths
Low leverageCash-backed earningsProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.0x5y range 3.4x – 15.0x
P/E 15.0x · above its 20-quarter median

Currently above its 20-quarter median.

P/S · 1.1x5y range 0.8x – 1.7x
P/S 1.1x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 1.9x5y range 0.8x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume
Market Cap $9.11B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$8.17B
3%
Q. Revenue
$1.90B
3Q
TTM EBITDA
$1.10B
48%
TTM Op. Income
$941.00M
58%
Q. Op. Income
$34.00M
2Q
TTM Net Income
$608.00M
14%
Q. Net Income
$94.00M
43%
EPS
$0.99
41%
Shares Out.
$90.80M
4Q
$8.17B in TTM revenue grew 3.2% YoY, reaching $1.90B last quarter. TTM EBITDA of $1.10B and TTM operating income of $941.00M show growth is flowing through to the bottom line. TTM net income of $608.00M means revenue is converting into profit. Over the past year, TTM revenue is up 3% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
3.3%
2Q
Op. Margin
1.8%
2Q
Net Margin
5.0%
41%
Op. margin of 1.8% is down 7.7% YoY — costs are rising relative to revenue. Net margin at 5.0% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
15.0x
17%
P/S Ratio
1.1x
29%
P/B Ratio
1.9x
31%
At 15.0x P/E, the stock trades below typical market levels. P/S of 1.1x and P/B of 1.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 17% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$182.95B
6%
Cash
$1.01B
15%
Long-Term Debt
$1.95B
2Q
Book Value
$4.68B
1%
D/E Ratio
0.4
3Q
Debt/EBITDA
31.0
2Q
With $182.95B in assets and $1.95B in long-term debt, D/E is 0.4and book value is $4.68B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$503.00M
32%
TTM Free Cash Flow
$1.19B
12%
FCF Margin
14.6%
15%
FCF / Net Income
2.0
23%
TTM FCF of $1.19B on $503.00M in operating cash flow. The FCF / Net Income ratio of 2.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 12% — a weakening trend.

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· above its 20-quarter median

Currently above its 20-quarter median.