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Axa Equitable Holdings Inc (EQH) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · ASSET MANAGEMENT · DATA UPDATED 2026-09-19

Axa Equitable Holdings Inc (EQH) operates in the ASSET MANAGEMENT industry and is headquartered in New York, United States with about 8,000 employees. Its market capitalization is roughly $15 billion. In the fiscal year ended 2025-12-31, EQH reported $11.7B in revenue and ($1.4B) in net income.

Equitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Asset Management, Protection Solutions, Wealth Management, and Legacy.

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EQH Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Total Revenue$10.6B$11.7B$12.4B$10.5B$12.6B$7.6B$12.4B$9.6B$12.1B$12.5B$11.8B$10.1B$13.1B
Gross Profit$9.2B$6.6B$6.3B$7.6B$7.3B$2.9B$2.1B$6.6B$5.5B$5.7B$4.3B$6.5B
Gross Margin %79.1%53.1%59.9%59.9%96.2%23.4%22.2%54.8%44.3%48.2%42.9%49.9%
Operating Income (EBIT)($1.2B)$2.1B$2.2B$3.0B$2.6B($1.1B)($2.1B)$2.5B$1.3B$2.0B$441M$2.4B
Operating Margin %-10.2%17.0%21.0%23.7%34.3%-8.8%-21.4%20.6%10.5%17.2%4.4%18.6%
Net Income($926M)($1.4B)$1.3B$1.3B$2.2B$1.8B($648M)($1.8B)$1.9B$834M$1.3B$333M$1.6B
Net Margin %-8.7%-11.8%10.5%12.4%17.0%23.1%-5.2%-18.3%15.4%6.7%10.7%3.3%12.5%
EBITDA($97M)$3.2B$2.2B$3.8B$3.4B$864M($1.2B)$3.0B$1.9B$3.0B$586M$3.2B
Earnings Per Share (EPS)$-3.07$-4.63$4.02$3.70$5.67$4.20$-1.44$-3.57$3.33$1.49$2.24$0.59$2.91
Shares Outstanding (M)298M325M352M380M417M450M494M556M561M561M561M561M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQH Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total Revenue$1.7B$4.2B$3.3B$1.4B$2.4B$3.9B$3.6B$3.0B$3.5B
Gross Profit$3.8B$2.9B($246M)$717M$3.1B$2.4B$2.3B$1.7B
Gross Margin %90.7%88.1%-17.0%30.4%80.6%67.2%77.8%49.8%
Operating Income (EBIT)$887M$344M($1.3B)($363M)$174M$1.2B($11M)$681M
Operating Margin %21.0%10.5%-93.0%-15.4%4.5%33.1%-0.4%19.4%
Net Income($453M)$621M$215M($1.3B)($349M)$63M$899M($132M)$428M
Net Margin %-27.3%14.7%6.6%-90.3%-14.8%1.6%24.8%-4.4%12.2%
EBITDA$1.2B$611M($1.1B)($82M)$442M$1.5B$256M$936M
Earnings Per Share (EPS)$-1.68$2.19$0.74$-4.32$-1.15$0.20$2.84$-0.41$1.31
Shares Outstanding (M)284M289M303M303M312M316M318M327M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQH Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Cash from Operations (CFO)$1.4B$713M$1.6B($208M)($851M)($756M)($61M)($216M)$61M($243M)($236M)($192M)($628M)
Capital Expenditures (CapEx)$68M$34M$153M$117M$167M$120M$107M$93M$123M$102M$97M$83M$92M
Free Cash Flow (FCF)$1.4B$679M$1.5B($325M)($1.0B)($876M)($168M)($309M)($62M)($345M)($333M)($275M)($720M)
FCF Margin %12.8%5.8%11.9%-3.1%-8.1%-11.5%-1.4%-3.2%-0.5%-2.8%-2.8%-2.7%-5.5%
Dividends Paid$375M$382M$381M$374M$375M$350M$285M$157M$157M$157M$157M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQH Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)$643M$499M($80M)$369M$52M$430M$400M$683M$892M
Capital Expenditures (CapEx)$10M$9M$16M$33M$7M$10M$26M$28M$36M
Free Cash Flow (FCF)$633M$490M($96M)$336M$45M$420M$374M$655M$856M
FCF Margin %38.2%11.6%-2.9%23.2%1.9%10.8%10.3%22.0%24.4%
Dividends Paid$90M$90M$97M$100M$88M$101M$90M$104M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQH Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-31
Total Assets$334.7B$318.0B$295.9B$276.8B$252.7B$292.3B$282.3B$249.9B$220.8B$235.6B$216.6B$205.6B
Cash & Cash Equivalents$17.2B$12.5B$7.0B$8.2B$4.3B$5.2B$6.2B$4.4B$4.5B$4.8B$5.7B$6.6B
Total Liabilities$333.4B$316.2B$292.3B$271.7B$249.1B$278.7B$265.0B$234.4B$205.2B$218.4B$201.7B$192.0B
Total Debt (Short + Long-Term)$7.0B$6.6B$6.2B$5.7B$5.2B$5.1B$8.2B$10.5B$7.5B$12.6B$6.2B$7.1B
Total Shareholders' Equity($785M)($74M)$1.6B$2.6B$1.4B$11.5B$17.3B$15.5B$15.6B$17.2B$14.9B$13.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive EQH viewer.

EQH Metric Deep Dives

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