Fundamentals snapshot
VOYA · NYQ · Financial Services · Financial Conglomerates
Current price
$98.05
52-week range
$64.50 - $105.64
Market cap
$8.88B
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 debt $3.21B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Voya Financial helps people save for retirement and offers insurance and investment services, mainly from employer-sponsored plans and investment products. This matters because they manage a lot of money for people's futures and employers' benefits. They make money on fees for managing these accounts and selling insurance, which helps their overall profitability, meaning the percentage of money left after paying for their business operations.
Voya Financial wasn't always Voya. It was formerly known as ING U.S., Inc., and it was part of the larger Dutch financial group ING. In 2013, ING decided to spin off its U.S. operations, and by April 2014, the company officially became Voya Financial. This separation allowed Voya to focus specifically on its American businesses in retirement, investment management, and employee benefits, aiming to become a more agile and focused financial services provider.
Voya Financial helps people and businesses manage their money for the future. Think of them as a financial partner for both big companies and individual employees. They offer ways for people to save for retirement, provide investment options to grow that money, and offer insurance products to protect against unexpected events. Essentially, Voya provides the tools and services that help individuals build financial security and employers support their workforce's well-being.
This is Voya's largest business, focusing on helping people save for retirement. They offer services to companies that manage their employees' retirement plans, like 401(k)s. This includes keeping track of everyone's savings (recordkeeping), offering different investment choices within those plans, and providing tools and advice to help employees feel more confident about their financial future. They also offer services for individual retirement accounts and manage investments designed to provide steady income, like stable value products (investments that aim to preserve principal and provide a modest, predictable return).
In this segment, Voya acts like a professional money manager for various clients. They create and manage different types of investment funds, such as those focused on bonds (fixed income), stocks (equity), or a mix of different assets (multi-asset). These funds are then offered to individual investors, financial advisors, and large institutions (like pension funds) who are looking for expertise to grow their money. Voya's investment professionals make decisions on where to invest the money to try and achieve specific financial goals for their clients.
This part of Voya focuses on providing insurance and other benefits to employees, usually through their employers. They offer a range of insurance products like group life insurance, disability insurance (which helps replace income if someone can't work due to illness or injury), and critical illness insurance. Beyond insurance, they also provide services that help employers manage benefits, such as health savings accounts (accounts to set aside money for medical expenses) and tools to help employees make better decisions about their benefits and overall financial wellness.
Voya's current strategy centers on simplifying its business and focusing on areas where it can be a leader, particularly in retirement and employee benefits. They are investing in technology to make their services easier for customers to use and to improve the efficiency of their operations. A key goal is to grow their customer base by offering attractive workplace benefits and retirement solutions that help individuals achieve financial security. This focus aims to create a more streamlined and profitable company by concentrating on core strengths and expanding their reach in key markets.
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 debt $3.2B. Interest coverage 4.4x.
Voya Financial, Inc.'s profit covers its interest bill about 4.4 times over. which is stronger than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Total debt $4.58B Interest coverage 4.39x This is the baseline the peer rows are being compared against.
Total debt $7.24B Interest coverage 6.89x +57% vs VOYA Carries about 1.6x more debt cushion than VOYA.
Total debt $3.52B Interest coverage 14.82x +238% vs VOYA Carries about 3.4x more debt cushion than VOYA.
Total debt $7.17B Interest coverage -4.33x -100% vs VOYA This peer has almost no interest-payment cushion compared with VOYA.
Total debt $14.47B Interest coverage -10.69x -100% vs VOYA This peer has almost no interest-payment cushion compared with VOYA.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
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Debt comparison
What you should know