Voya Financial, Inc. (VOYA) Income Statement
VOYA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVOYA revenue and net income
Where VOYA's revenue goes
2025Each bar shows an amount and its share of revenue. VOYA kept 8.7% of revenue as net income.
VOYA profit margins
VOYA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.9% | +8.1% | +0.3% | −1.5% |
| Gross profit | +0.2% | +9.4% | −12.1% | +2.1% |
| Operating income | −67.3% | −15.2% | — | −5.8% |
| Net income | −1.9% | +8.6% | +12.1% | +4.8% |
| EPS (diluted) | +25.0% | +4.8% | +21.1% | +11.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VOYA quarterly EPS vs estimates
Voya Financial beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 2, 2026 (estimate $2.64).
VOYA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.50B | $8.05B | $7.35B | $5.93B | $3.25B | $7.39B | $7.33B | $8.22B | $7.23B | $8.79B |
| Cost of revenue | $3.61B | $4.17B | $3.66B | $2.96B | $224.0M | $254.0M | $3.95B | −$292.0M | $4.36B | $6.16B |
| Gross profit | $3.89B | $3.88B | $3.69B | $2.97B | $3.25B | $7.39B | $7.33B | $8.22B | $2.87B | $2.63B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | — | — | — | — | — | $2.13B | $1.97B | $2.69B | $2.04B | $2.18B |
| Total operating expenses | $3.62B | $3.08B | $3.01B | $2.54B | −$1.80B | −$7.94B | −$8.35B | $6.64B | $2.48B | $2.62B |
| Operating income | $261.0M | $799.0M | $678.0M | $428.0M | $1.45B | −$549.0M | −$1.02B | $1.19B | $385.0M | $10.0M |
| Interest income | — | — | — | — | — | — | $214.0M | $262.0M | $264.0M | $390.0M |
| Interest expense | $117.0M | $299.0M | $298.0M | $183.0M | $186.0M | $159.0M | $176.0M | $221.0M | $264.0M | $390.0M |
| Income before taxes | $837.0M | $799.0M | $678.0M | $428.0M | $2.78B | $352.0M | $560.0M | $610.0M | $385.0M | $10.0M |
| Income taxes | $104.0M | $57.0M | −$51.0M | −$5.0M | −$98.0M | −$18.0M | −$205.0M | $55.0M | $687.0M | −$29.0M |
| Net income | $654.0M | $667.0M | $625.0M | $510.0M | $2.88B | $370.0M | $765.0M | $875.0M | −$2.99B | −$327.0M |
| EBITDA | $261.0M | $1.10B | $976.0M | $611.0M | $700.0M | −$192.0M | −$1.02B | $1.19B | $649.0M | $498.6M |
| EPS (diluted) | $8.29 | $6.63 | $8.04 | $7.21 | $8.37 | $3.18 | $4.47 | $4.06 | $2.86 | $3.03 |
| Gross margin | 51.8% | 48.2% | 50.2% | 50.1% | 100.0% | 100.0% | 100.0% | 100.0% | 39.6% | 29.9% |
| Operating margin | 3.5% | 9.9% | 9.2% | 7.2% | 44.6% | −7.4% | −13.9% | 14.5% | 5.3% | 0.1% |
| Net margin | 8.7% | 8.3% | 8.5% | 8.6% | 88.5% | 5.0% | 10.4% | 10.6% | −41.4% | −3.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.90B | $1.87B | $1.42B | $2.13B | $1.98B | $1.97B | $2.01B | $1.96B | $2.03B | $2.05B | $1.82B | $1.82B |
| Cost of revenue | $0 | $0 | $57.0M | $60.0M | $63.0M | $67.0M | $1.14B | $1.06B | $1.00B | $965.0M | $1.01B | $934.0M |
| Gross profit | $1.90B | $1.87B | −$57.0M | −$60.0M | −$63.0M | −$67.0M | $873.0M | $891.0M | $1.03B | $1.09B | $805.0M | $889.0M |
| Sales, general & admin | — | — | $76.9M | — | — | — | — | — | — | — | — | — |
| Total operating expenses | $1.86B | $1.64B | −$226.0M | −$367.0M | −$251.0M | −$240.0M | $753.0M | $775.0M | $752.0M | $799.0M | $703.0M | $717.0M |
| Operating income | $34.0M | $230.0M | $169.0M | $307.0M | $188.0M | $173.0M | $120.0M | $116.0M | $276.0M | $287.0M | $102.0M | $172.0M |
| Interest expense | $33.0M | $29.0M | $57.0M | $60.0M | $63.0M | $67.0M | $75.0M | $69.0M | $98.0M | $57.0M | $80.0M | $76.0M |
| Income before taxes | $34.0M | $230.0M | $169.0M | $307.0M | $188.0M | $173.0M | $120.0M | $116.0M | $276.0M | $287.0M | $102.0M | $172.0M |
| Income taxes | $16.0M | $35.0M | $20.0M | $35.0M | $27.0M | $22.0M | −$1.0M | $18.0M | $41.0M | −$1.0M | −$17.0M | −$74.0M |
| Net income | $94.0M | $182.0M | $140.0M | $192.0M | $166.0M | $156.0M | $97.0M | $114.0M | $205.0M | $251.0M | $122.0M | $262.0M |
| EBITDA | $96.0M | $259.0M | $226.0M | $367.0M | $251.0M | $240.0M | $323.0M | $185.0M | $374.0M | $344.0M | $182.0M | $248.0M |
| EPS (diluted) | $1.51 | $2.26 | $1.94 | $1.80 | $2.40 | $2.15 | $1.50 | $0.98 | $2.27 | $1.88 | $1.97 | $2.07 |
| Gross margin | 100.0% | 100.0% | −4.0% | −2.8% | −3.2% | −3.4% | 43.4% | 45.6% | 50.6% | 52.9% | 44.3% | 48.8% |
| Operating margin | 1.8% | 12.3% | 11.9% | 14.4% | 9.5% | 8.8% | 6.0% | 5.9% | 13.6% | 14.0% | 5.6% | 9.4% |
| Net margin | 5.0% | 9.7% | 9.9% | 9.0% | 8.4% | 7.9% | 4.8% | 5.8% | 10.1% | 12.2% | 6.7% | 14.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VOYA's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VOYA financial results
In fiscal year 2025 (ended December 31, 2025), Voya Financial reported revenue of $7.5 billion, down 6.9% from the year before. It had net income of $654.0 million (down 1.9%), a net profit margin of 8.7%. Diluted earnings per share came to $8.29. Over five years revenue grew at an average rate of 0.3% a year.
See the VOYA stock overview for the latest quote and news, or the VOYA chart for price history and technical indicators.
VOYA income statement FAQ
What is Voya Financial's annual revenue?
Voya Financial reported total revenue of $7.5 billion for fiscal year 2025, which ended on December 31, 2025. That was down 6.9% from $8.1 billion the previous year.
Is Voya Financial profitable?
Yes. Voya Financial reported net income of $654.0 million in fiscal 2025, a net profit margin of 8.7%; its operating margin was 3.5%.
What is Voya Financial's gross margin?
Voya Financial's gross margin was 51.8% in fiscal 2025: for every $100 of revenue, Voya Financial kept $52 after the direct cost of its products and services.
How fast is Voya Financial growing?
Revenue grew 0.3% a year on average over the last five fiscal years, from $7.4 billion to $7.5 billion.
What are Voya Financial's earnings per share?
Voya Financial earned $8.29 per diluted share in fiscal 2025, compared with $6.63 a year earlier.
When will Voya Financial report its next earnings?
Voya Financial is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Voya Financial's fiscal year end?
Voya Financial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.