Fundamentals snapshot
EQH · NYQ · Financial Services · Asset Management
Current price
$53.85
52-week range
$35.20 - $55.67
Market cap
$14.69B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $11.96B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Equitable Holdings sells financial products like retirement plans and insurance to individuals and businesses, making most of its money from fees on investments and insurance policies. This matters because it shows how stable their income is, as many of these fees are recurring revenue (money that comes in regularly, like a subscription). The company helps people save for retirement and protect themselves financially, making it a key player in the financial services industry.
Equitable Holdings has a long history, tracing its roots back to 1859. It was formerly known as AXA Equitable Holdings, Inc., but in January 2020, it officially changed its name to Equitable Holdings, Inc. This rebranding marked a significant step in its journey as an independent, diversified financial services company. The company has evolved over many decades, adapting to changing market conditions and customer needs in the financial services landscape.
Equitable Holdings is a financial services company that helps individuals and institutions manage their money and plan for the future. Think of it like a financial guide that offers various tools and services to help people save, invest, and protect their assets. They provide products and advice for retirement planning, investment management, and insurance needs, aiming to help clients achieve their financial goals.
This part of Equitable Holdings focuses on helping individual people save for retirement. They offer products like variable annuities, which are essentially investment accounts designed for retirement savings that can grow over time. These are often geared towards individuals with more significant assets, helping them plan for their later years with various investment and income options.
This segment provides retirement savings and investment services to groups, such as employees of educational institutions, non-profits, and small to medium-sized businesses. It's like offering a company-sponsored 401(k) plan, but Equitable provides the investment options and administrative services. They help organizations offer retirement benefits to their employees, making it easier for people to save for their future through their workplace.
In this business, Equitable acts as an investment manager for various clients, including institutions and individuals. They take money from clients and invest it in stocks, bonds, and other assets with the goal of growing that money over time. This segment is about expertise in picking investments and managing portfolios to meet different financial objectives, making up a significant portion of the company's overall operations.
This area of Equitable Holdings is focused on insurance products that protect individuals and businesses. They offer life insurance policies, which provide a financial payout to beneficiaries upon the insured person's death, and also various employee benefits like group life, dental, and disability insurance. These products act as a safety net, providing financial security in case of unexpected events.
This segment offers a more comprehensive suite of financial services, including investment advice, financial planning, and the sale of investment products like annuities and life insurance. It's about providing personalized guidance to help clients manage their overall financial picture, not just a single aspect like retirement. This business line works closely with clients to create tailored strategies for their financial well-being.
The Legacy segment manages older business lines that are more capital-intensive, specifically focusing on guaranteed minimum death benefit (GMxB) products. These are essentially older types of insurance or annuity contracts with built-in guarantees. This segment represents business that is no longer actively being sold but still requires management and capital allocation from the company.
Equitable Holdings is focusing on growing its core businesses, particularly in retirement and wealth management, by emphasizing investment solutions and advice. They aim to attract more assets under management, which are the total market value of investments they handle for clients. A key strategy involves leveraging their technology and digital platforms to reach more customers and provide a seamless experience. Management is also prioritizing operational efficiency to improve profitability and deliver value to shareholders.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $12.0B - more cash than debt. Interest coverage -4.3x.
Equitable Holdings, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Total debt $7.17B Interest coverage -4.33x This is the baseline the peer rows are being compared against.
Total debt $14.47B Interest coverage -10.69x Neither company has much profit cushion over interest right now.
Total debt $3.52B Interest coverage 14.82x This peer still has a real interest-payment cushion, while EQH does not.
Total debt $4.58B Interest coverage 4.39x This peer still has a real interest-payment cushion, while EQH does not.
Total debt $7.24B Interest coverage 6.89x This peer still has a real interest-payment cushion, while EQH does not.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
Metric explainer
Debt comparison
What you should know