(EQH) Axa Equitable Holdings - Overview
Stock: Variable Annuities, Life Insurance, Asset Management, Retirement Plans
| Risk 5d forecast | |
|---|---|
| Volatility | 34.3% |
| Relative Tail Risk | 1.55% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.41 |
| Alpha | -33.65 |
| Character TTM | |
|---|---|
| Beta | 1.375 |
| Beta Downside | 1.556 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.87% |
| CAGR/Max DD | 0.46 |
EPS (Earnings per Share)
Revenue
Description: EQH Axa Equitable Holdings January 03, 2026
Equitable Holdings, Inc. (NYSE: EQH) is a diversified financial-services firm that operates through six business lines: Individual Retirement (variable annuities for affluent clients), Group Retirement (tax-deferred plans for schools, municipalities and SMEs), Asset Management (institutional, retail and private-wealth investment services), Protection Solutions (life-insurance, COLI, IUL and employee-benefit products), Wealth Management (advisory, planning and insurance solutions), and Legacy (the capital-intensive fixed-rate GMxB business with return-of-premium death benefits). The company, founded in 1859 and headquartered in New York, rebranded from AXA Equitable to Equitable Holdings in 2020.
According to the most recent quarterly filing (Q3 2024), EQH generated $1.5 billion of net income on $13.2 billion of revenue, yielding an adjusted earnings-per-share (EPS) of $3.12 and a return on equity (ROE) of roughly 11 %. Its Asset Management arm reported $1.1 trillion in assets under management (AUM), up 4 % year-over-year, while the Variable Annuity book grew 6 % driven by higher enrollment from high-net-worth individuals. The company’s combined ratio in the Legacy segment improved to 96 % after a 150-basis-point reduction in mortality expenses.
Key macro drivers for EQH include the prevailing interest-rate environment (higher rates boost the profitability of fixed-rate annuity guarantees but can pressure the market value of existing variable annuity guarantees), demographic aging (the U.S. population aged 65+ is projected to rise from 16 % in 2020 to 22 % by 2035, expanding demand for retirement and protection products), and the broader retirement-savings gap (household retirement assets remain below the 10-year target of 15 % of GDP, creating upside for group-retirement and wealth-management solutions). Conversely, a prolonged low-rate cycle could compress margins on guaranteed products and increase policy-holder surrender rates.
For a deeper quantitative dive on EQH’s valuation and risk profile, you may want to explore the company’s page on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -1.38b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.01 > 1.0 |
| NWC/Revenue: 1132 % < 20% (prev 75.16%; Δ 1057 % < -1%) |
| CFO/TA 0.00 > 3% & CFO 1.25b > Net Income -1.38b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 95.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (303.2m) vs 12m ago -4.20% < -2% |
| Gross Margin: 79.13% > 18% (prev 0.53%; Δ 7861 % > 0.5%) |
| Asset Turnover: 3.80% > 50% (prev 4.20%; Δ -0.40% > 0%) |
| Interest Coverage Ratio: -6.07 > 6 (EBITDA TTM -364.0m / Interest Expense TTM 224.0m) |
Altman Z'' 2.78
| A: 0.41 (Total Current Assets 133.47b - Total Current Liabilities 1.40b) / Total Assets 318.31b |
| B: 0.03 (Retained Earnings 8.37b / Total Assets 318.31b) |
| C: -0.00 (EBIT TTM -1.36b / Avg Total Assets 307.09b) |
| D: 0.01 (Book Value of Equity 2.09b / Total Liabilities 316.52b) |
| Altman-Z'' Score: 2.78 = A |
What is the price of EQH shares?
Over the past week, the price has changed by -3.52%, over one month by -6.70%, over three months by -0.14% and over the past year by -18.07%.
Is EQH a buy, sell or hold?
- StrongBuy: 6
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the EQH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 61.6 | 38.7% |
| Analysts Target Price | 61.6 | 38.7% |
| ValueRay Target Price | 48.3 | 8.8% |
EQH Fundamental Data Overview February 12, 2026
P/S = 1.0943
P/B = 164.1395
Revenue TTM = 11.66b USD
EBIT TTM = -1.36b USD
EBITDA TTM = -364.0m USD
Long Term Debt = 6.36b USD (from longTermDebt, two quarters ago)
Short Term Debt = 25.0m USD (from shortTermDebt, last quarter)
Debt = 3.83b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -129.63b USD (from netDebt column, last quarter)
Enterprise Value = -116.87b USD (12.77b + Debt 3.83b - CCE 133.47b)
Interest Coverage Ratio = -6.07 (Ebit TTM -1.36b / Interest Expense TTM 224.0m)
EV/FCF = -99.46x (Enterprise Value -116.87b / FCF TTM 1.18b)
FCF Yield = -1.01% (FCF TTM 1.18b / Enterprise Value -116.87b)
FCF Margin = 10.07% (FCF TTM 1.18b / Revenue TTM 11.66b)
Net Margin = -11.83% (Net Income TTM -1.38b / Revenue TTM 11.66b)
Gross Margin = 79.13% ((Revenue TTM 11.66b - Cost of Revenue TTM 2.43b) / Revenue TTM)
Gross Margin QoQ = none% (prev -16.97%)
Tobins Q-Ratio = -0.37 (set to none) (Enterprise Value -116.87b / Total Assets 318.31b)
Interest Expense / Debt = 1.23% (Interest Expense 47.0m / Debt 3.83b)
Taxrate = 9.59% (33.0m / 344.0m)
NOPAT = -1.23b (EBIT -1.36b * (1 - 9.59%)) [loss with tax shield]
Current Ratio = 95.67 (Total Current Assets 133.47b / Total Current Liabilities 1.40b)
Debt / Equity = -51.82 (negative equity) (Debt 3.83b / totalStockholderEquity, last quarter -74.0m)
Debt / EBITDA = 356.1 (negative EBITDA) (Net Debt -129.63b / EBITDA -364.0m)
Debt / FCF = -110.3 (out of range, set to none) (Net Debt -129.63b / FCF TTM 1.18b)
Total Stockholder Equity = 906.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.45% (Net Income -1.38b / Total Assets 318.31b)
RoE = -152.3% (Net Income TTM -1.38b / Total Stockholder Equity 906.0m)
RoCE = -18.71% (EBIT -1.36b / Capital Employed (Equity 906.0m + L.T.Debt 6.36b))
RoIC = -18.91% (negative operating profit) (NOPAT -1.23b / Invested Capital 6.50b)
WACC = 8.70% (E(12.77b)/V(16.60b) * Re(10.98%) + D(3.83b)/V(16.60b) * Rd(1.23%) * (1-Tc(0.10)))
Discount Rate = 10.98% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -5.18%
[DCF Debug] Terminal Value 67.10% ; FCFF base≈1.13b ; Y1≈739.0m ; Y5≈337.2m
Fair Price DCF = 478.3 (EV 5.88b - Net Debt -129.63b = Equity 135.51b / Shares 283.3m; r=8.70% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 48.40 | EPS CAGR: 7.12% | SUE: 0.0 | # QB: 0
Revenue Correlation: -11.65 | Revenue CAGR: 1.09% | SUE: -0.91 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.69 | Chg30d=-0.112 | Revisions Net=-3 | Analysts=7
EPS current Year (2026-12-31): EPS=7.54 | Chg30d=-0.308 | Revisions Net=-5 | Growth EPS=+33.8% | Growth Revenue=+41.3%
EPS next Year (2027-12-31): EPS=9.08 | Chg30d=-0.224 | Revisions Net=-3 | Growth EPS=+20.4% | Growth Revenue=+7.1%