Brighthouse Financial, Inc. BHF

Financials SIC 6311 - Life Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Life, Health, and Medical Insurance Carriers › Direct Life Insurance Carriers derived Nasdaq

We are one of the largest providers of annuity and life insurance products in the U.S. with over 2.0 million annuity contracts and insurance policies in force at December 31, 2025. We deliver our products through multiple independent distribution channels and marketing arrangements with a diverse network of distribution partners. We primarily transact business through our insurance subsidiaries, Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY ("BHNY") and New England Life Insurance Company ("NELICO"); however, NELICO does not currently write new business.

We believe we are a financially disciplined company with an emphasis on independent distribution and that our strategy of offering a targeted set of products to serve our customers and distribution partners will enhance our ability to invest in our business and distribute cash to our shareholders over time. We also believe that general demographic trends in the U.S. population, the increase in under-insured individuals, the potential risk to governmental social safety net programs and the shifting of responsibility for retirement planning and financial security from employers and other institutions to individuals will create opportunities to generate significant demand for our products.

Last close 45.41 2026-10-23
Market cap $2.61B 2026-06-30 share count
52-week range 45.18 - 66.80

Valuation FY2025 figures against the last close

P/S0.4x
P/E8.0x
P/FCF10.1x
EV/EBITDA—
Dividend yield—
Diluted EPS5.71

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.77B$4.72B$4.12B$6.87B$4.98B$8.50B$6.55B$8.96B$6.84B$3.02B
Total operating expenses $1.96B$1.95B$1.98B$2.08B$2.45B$2.35B$2.49B$2.58B$2.48B$2.28B
Pre-tax income $474.0M$422.0M-$1.47B$4.73B$2.01B-$1.42B-$1.05B$989.0M-$615.0M-$4.71B
Income tax $36.0M$29.0M$367.0M$848.0M$361.0M$363.0M$317.0M$119.0M$237.0M$1.77B
Net income $331.0M$286.0M-$1.21B$3.77B$1.55B-$1.06B-$740.0M$865.0M-$378.0M-$2.94B
EPS, basic 5.754.67-18.3951.7318.54-11.58-6.767.24-3.16-24.54
EPS, diluted 5.714.64-18.3951.3018.39-11.58-6.767.21-3.16-24.54
Shares, diluted (wtd. avg.) 57.9M61.6M66.0M73.6M84.5M95.4M112.5M119.8M119.8M119.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $5.39B$5.04B$3.85B$4.12B$4.47B$4.11B$2.88B$4.14B$1.86B$5.23B
Short-term investments —$1.87B$1.17B$1.08B$1.84B$3.24B$1.96B$0$312.0M$1.29B
Other intangibles ——————$78.0M$91.0M$105.0M$120.0M
Total assets $241.80B$238.54B$236.34B$224.85B$262.26B$247.87B$227.26B$206.29B$224.19B$221.93B
Long-term debt $3.15B$3.15B$3.16B$3.16B$3.16B$3.44B$4.37B$3.96B$3.61B$1.91B
Total liabilities $234.97B$233.51B$231.33B$219.25B$253.81B$229.78B$211.02B$191.81B$209.61B$207.07B
Retained earnings -$686.0M-$1.12B-$1.51B-$395.0M-$4.27B-$534.0M$585.0M$1.35B$406.0M$0
Total equity $6.77B$4.96B$5.01B$5.60B$8.45B$18.09B$16.24B$14.48B$14.58B$14.86B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $259.0M-$290.0M-$137.0M-$1.23B$641.0M$888.0M$1.83B$3.06B$3.40B$3.74B
Investing cash flow $751.0M-$2.19B-$3.20B-$8.28B-$12.24B-$5.84B-$7.34B-$4.54B-$3.92B$4.67B
Financing cash flow -$668.0M$3.68B$3.07B$9.14B$11.96B$6.19B$4.25B$3.76B-$2.85B-$4.75B
Dividends paid ————————$0$556.0M
Buybacks $102.0M$250.0M$250.0M$488.0M$499.0M$473.0M$442.0M$105.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-154952.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B Revenue, FY2016: 3B Net income, FY2016: -2.9B Revenue, FY2017: 6.8B Net income, FY2017: -378M Revenue, FY2018: 9B Net income, FY2018: 865M Revenue, FY2019: 6.6B Net income, FY2019: -740M Revenue, FY2020: 8.5B Net income, FY2020: -1.1B Revenue, FY2021: 5B Net income, FY2021: 1.6B Revenue, FY2022: 6.9B Net income, FY2022: 3.8B Revenue, FY2023: 4.1B Net income, FY2023: -1.2B Revenue, FY2024: 4.7B Net income, FY2024: 286M Revenue, FY2025: 6.8B Net income, FY2025: 331M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.02B $6.84B $8.96B $6.55B $8.50B $4.98B $6.87B $4.12B $4.72B $6.77B
Gross profit — — — — — — — — — —
Net income -$2.94B -$378.0M $865.0M -$740.0M -$1.06B $1.55B $3.77B -$1.21B $286.0M $331.0M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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