EQH financial statements

The full income statement, balance sheet, and cash-flow statement for Equitable Holdings Inc. (EQH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 319.8M2024-09 313.3M2024-12 307.8M2025-03 303.9M2025-06 299.5M2025-09 286.5M2025-12 280.3M2026-03 281.5M2026-06 273.0M-14.6% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	11.7B YoY-6.1%	12.4B YoY+18.8%	10.5B YoY-17.3%	12.6B YoY+66.1%	7.61B YoY-38.7%
Interest expense	248M YoY+2.9%	241M YoY+5.7%	228M YoY+13.4%	201M YoY-17.6%	244M YoY+22.0%
Interest & investment income	—	—	—	—	3.92B YoY+10.5%
Gain (loss) on equity securities	11.0M YoY-47.6%	21.0M YoY-22.2%	27.0M YoY+118.0%	-150M YoY-676.9%	26.0M
Pre-tax income	-1.19B YoY-157.5%	2.08B YoY+190.8%	714M YoY-76.0%	2.98B YoY+14.0%	2.61B YoY+338.7%
Income tax	-156M YoY-155.7%	280M YoY+130.8%	-910M YoY-253.2%	594M YoY+35.3%	439M YoY+159.0%
	-1.38B YoY-207.8%	1.28B YoY-0.2%	1.28B YoY-40.0%	2.14B YoY+21.9%	1.75B YoY+370.8%
Net income to non-controlling interest	343M YoY-33.5%	516M YoY+51.3%	341M YoY+41.5%	241M YoY-41.9%	415M YoY+38.8%
Preferred dividends	61.0M YoY-23.8%	80.0M YoY+0.0%	80.0M YoY+0.0%	80.0M YoY+1.3%	79.0M YoY+49.1%
Net income to common	-1.44B YoY-220.1%	1.20B YoY-0.2%	1.20B YoY-41.6%	2.06B YoY+22.9%	1.68B YoY+339.1%
	-$4.83 YoY-230.9%	$3.69 YoY+7.9%	$3.42 YoY-36.9%	$5.42 YoY+36.2%	$3.98 YoY+355.1%
EPS (basic)	-$4.83 YoY-229.1%	$3.74 YoY+8.7%	$3.44 YoY-37.0%	$5.46 YoY+35.8%	$4.02 YoY+357.7%
	298M YoY-7.2%	321M YoY-8.3%	350M YoY-7.3%	378M YoY-9.5%	417M YoY-7.3%
	298M YoY-8.2%	325M YoY-7.6%	352M YoY-7.4%	380M YoY-9.8%	421M YoY-6.5%
Dividends per share	$1.05 YoY+11.7%	$0.94 YoY+9.3%	$0.86 YoY+10.3%	$0.78 YoY+9.9%	$0.71 YoY+7.6%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	12.5B YoY+78.9%	6.96B YoY-15.5%	8.24B YoY+92.5%	4.28B YoY-17.5%	5.19B YoY-16.0%
	318B YoY+7.5%	296B YoY+6.9%	277B YoY+9.5%	253B YoY-13.5%	292B YoY+6.1%
Operating lease right-of-use	631M YoY+2.1%	618M YoY+19.8%	516M YoY-0.8%	520M YoY-18.4%	637M YoY-7.8%
Deferred tax assets	2.58B YoY+28.7%	2.00B YoY-2.5%	2.05B YoY+163.0%	781M YoY+300.5%	195M
Short-term & current debt	25.0M	0.00 YoY-100.0%	254M YoY-66.5%	759M YoY+725.0%	92.0M
	316B YoY+8.2%	292B YoY+7.6%	272B YoY+9.0%	249B YoY-10.6%	279B YoY+8.0%
Long-term debt	3.83B YoY+0.1%	3.83B YoY+0.3%	3.82B YoY+15.0%	3.32B YoY-13.5%	3.84B
Operating lease liability (total)	712M YoY+2.3%	696M YoY+20.2%	579M YoY-6.3%	618M YoY-19.5%	768M YoY-10.2%
Deferred tax liabilities	—	—	—	—	0.00 YoY-100.0%
	-74.0M YoY-104.7%	1.56B YoY-40.6%	2.64B YoY+88.2%	1.40B YoY-87.8%	11.5B YoY-26.0%
Common stock	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+25.0%	4.00M YoY+0.0%	4.00M YoY-20.0%
Additional paid-in capital	1.93B YoY-17.3%	2.34B YoY+0.3%	2.33B YoY+1.3%	2.30B YoY+19.8%	1.92B YoY-3.3%
Retained earnings	8.37B YoY-21.3%	10.6B YoY+3.7%	10.3B YoY+4.3%	9.82B YoY+10.6%	8.88B YoY-17.0%
Treasury stock	5.17B YoY+23.0%	4.20B YoY+13.1%	3.71B YoY+12.6%	3.30B YoY+15.7%	2.85B YoY+26.9%
Accumulated other comprehensive income	-6.28B YoY+27.9%	-8.71B YoY-11.7%	-7.80B YoY+13.3%	-8.99B YoY-548.7%	2.00B YoY-48.1%
Non-controlling interest	1.54B YoY-17.1%	1.86B YoY+6.8%	1.74B YoY-0.1%	1.74B YoY+10.4%	1.58B YoY-1.6%
Total equity incl. non-controlling	1.47B YoY-57.2%	3.42B YoY-21.8%	4.38B YoY+38.1%	3.17B YoY-73.4%	11.9B YoY-30.6%
Total liabilities & equity	318B YoY+7.5%	296B YoY+6.9%	277B YoY+9.5%	253B YoY-13.5%	292B YoY+6.1%
	468M YoY-2.0%	478M YoY-2.7%	491M YoY-3.4%	508M YoY-2.4%	521M YoY-5.8%
	283M YoY-8.6%	310M YoY-7.2%	334M YoY-8.5%	365M YoY-6.7%	391M YoY-11.2%
	280M YoY-8.9%	308M YoY-6.6%	330M YoY-8.9%	362M YoY-7.1%	390M YoY-10.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	714M YoY-64.4%	2.01B YoY+1064.4%	-208M YoY+16.8%	-250M YoY-29.5%	-193M YoY-216.4%
Deferred income taxes	-1.05B YoY-859.4%	138M YoY+114.7%	-939M YoY-258.3%	593M YoY+91.3%	310M YoY+141.4%
	-11.0B YoY+30.8%	-15.9B YoY-226.8%	-4.85B YoY+35.2%	-7.49B YoY+41.0%	-12.7B YoY-62.2%
Acquisitions	0.00	0.00	0.00 YoY+100.0%	-40.0M	0.00
Other investing activities	390M YoY+372.7%	-143M YoY-672.0%	25.0M YoY+131.3%	-80.0M YoY-139.0%	205M YoY+28.1%
	15.7B YoY+26.3%	12.4B YoY+38.2%	9.00B YoY+27.8%	7.04B YoY-41.0%	11.9B YoY+23.5%
Long-term debt issued	495M	0.00 YoY-100.0%	497M	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Net short-term debt	25.0M YoY+109.8%	-254M YoY+49.6%	-504M YoY-442.9%	147M YoY+59.8%	92.0M
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	1.45B YoY+43.0%	1.01B YoY+10.3%	919M YoY+8.2%	849M YoY-48.1%	1.64B YoY+280.7%
Dividends paid	314M YoY+4.0%	302M YoY+0.3%	301M YoY+2.4%	294M YoY-0.7%	296M YoY-0.3%
Other financing activities	5.00M YoY+171.4%	-7.00M YoY+30.0%	-10.0M YoY-132.3%	31.0M YoY+166.0%	-47.0M YoY-197.9%
FX effect on cash	36.0M YoY+280.0%	-20.0M YoY-187.0%	23.0M YoY+141.1%	-56.0M YoY-211.1%	-18.0M YoY-178.3%
Net change in cash	5.50B YoY+485.0%	-1.43B YoY-136.0%	3.96B YoY+629.9%	-748M YoY+21.4%	-952M YoY-152.5%
Interest paid	293M YoY-7.9%	318M YoY-7.6%	344M YoY+30.8%	263M YoY+22.3%	215M YoY+0.0%
Income taxes paid	576M YoY+1615.8%	-38.0M YoY-114.3%	265M YoY+197.8%	89.0M YoY-70.8%	305M YoY+276.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	13.4B YoY-8.0%	14.5B YoY+28.8%	11.3B YoY+6.1%	10.6B YoY-16.9%	12.8B YoY+14.6%
P/E	—	11.3× YoY+104.7%	5.5× YoY+136.8%	2.3× YoY-67.9%	7.3×
P/S	1.1× YoY-2.0%	1.2× YoY+5.4%	1.1× YoY+11.9%	1.0× YoY-41.0%	1.7× YoY+86.9%
P/B	—	9.3× YoY+35.2%	6.9× YoY+116.8%	3.2× YoY+185.5%	1.1× YoY+55.0%
P/FCF	219.0× YoY-8.0%	238.0× YoY+28.8%	184.8× YoY+6.1%	174.1× YoY-16.9%	209.4× YoY+14.6%
	—	8.8% YoY-51.1%	18.0% YoY-57.8%	42.7% YoY+211.1%	13.7%
	0.46% YoY+8.7%	0.42% YoY-22.4%	0.54% YoY-5.8%	0.57% YoY+20.3%	0.48% YoY-12.7%
	2.2% YoY+10.6%	2.0% YoY-22.8%	2.6% YoY-5.0%	2.7% YoY+25.5%	2.2% YoY-16.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EQH's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EQH filings on SEC EDGAR → Not investment advice.