Athene Holding Ltd. Depositary Financials

ATH-PA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Athene Holding Ltd. Depositary passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

0.54x

For every $1 of reported earnings, Athene Holding Ltd. Depositary generates $0.54 in operating cash flow ($1.9B OCF vs $3.5B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Athene Holding Ltd. Depositary (ATH-PA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$20.7B

YoY-26.6%

5Y CAGR+4.9%

10Y CAGR+17.6%

Athene Holding Ltd. Depositary generated $20.7B in revenue in fiscal year 2024. This represents a decrease of 26.6% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$3.5B

YoY-25.8%

5Y CAGR+9.8%

10Y CAGR+22.5%

Athene Holding Ltd. Depositary reported $3.5B in net income in fiscal year 2024. This represents a decrease of 25.8% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$14.3B

YoY+9.5%

5Y CAGR+27.5%

10Y CAGR+18.2%

Athene Holding Ltd. Depositary held $14.3B in cash against $6.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

16.7%

YoY+0.2pp

5Y CAGR+3.4pp

10Y CAGR+5.6pp

Athene Holding Ltd. Depositary 's net profit margin was 16.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.2 percentage points from the prior year.

Return on Equity

21.2%

YoY-12.6pp

5Y CAGR+4.9pp

10Y CAGR+11.2pp

Athene Holding Ltd. Depositary 's ROE was 21.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 12.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ATH-PA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$20.7B-26.6%	$28.2B+269.9%	$7.6B-71.0%	$26.3B+78.3%	$14.8B-9.2%	$16.3B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$730.0M+162.9%	-$1.2B-79.7%	-$646.0M-267.4%	$386.0M+35.4%	$285.0M+143.6%	$117.0M
Net Income	$3.5B-25.8%	$4.7B+260.3%	-$2.9B-175.4%	$3.9B+150.4%	$1.5B-29.1%	$2.2B
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$8.0B+49.2%	$5.4B+28.0%	$4.2B+10.7%	$3.8B-18.9%	$4.7B-18.5%	$5.7B-42.9%	$10.0B+597.2%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$266.0M+882.4%	-$34.0M-119.4%	$175.0M+146.5%	$71.0M-55.9%	$161.0M-47.6%	$307.0M+119.0%	-$1.6B-1099.4%	$162.0M
Net Income	$1.3B+171.3%	$464.0M-0.2%	$465.0M-54.2%	$1.0B+61.4%	$629.0M-47.2%	$1.2B-59.9%	$3.0B+511.1%	$486.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ATH-PA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$363.3B+20.9%	$300.6B+23.2%	$243.9B+3.7%	$235.1B+16.0%	$202.8B+38.1%	$146.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$14.3B+9.5%	$13.0B+67.4%	$7.8B-17.9%	$9.5B+23.0%	$7.7B+81.7%	$4.2B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.1B0.0%	$4.1B+0.2%	$4.1B	$0	N/A	N/A
Total Liabilities	$337.5B+20.8%	$279.3B+19.7%	$233.4B+9.6%	$213.0B+16.6%	$182.6B+37.6%	$132.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$6.3B+49.9%	$4.2B+15.1%	$3.7B+23.4%	$3.0B+50.0%	$2.0B+99.2%	$992.0M
Total Equity	$16.4B+18.2%	$13.8B+93.3%	$7.2B-64.4%	$20.1B+7.9%	$18.7B+39.3%	$13.4B
Retained Earnings	$2.2B+2531.5%	-$92.0M+97.5%	-$3.6B-133.0%	$11.0B+36.7%	$8.1B+16.3%	$6.9B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$429.9B+6.1%	$405.3B+6.2%	$381.5B+5.0%	$363.3B+9.2%	$332.6B+3.8%	$320.6B+6.7%	$300.6B+11.4%	$269.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$18.0B+46.8%	$12.2B-8.7%	$13.4B-6.0%	$14.3B-2.7%	$14.7B-3.9%	$15.3B+17.1%	$13.0B+30.3%	$10.0B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.1B-0.1%	$4.1B+0.2%	$4.1B+0.1%	$4.1B0.0%	$4.1B0.0%	$4.1B0.0%	$4.1B+0.1%	$4.1B
Total Liabilities	$396.9B+5.5%	$376.1B+6.3%	$353.7B+4.8%	$337.5B+9.5%	$308.3B+3.7%	$297.4B+6.5%	$279.3B+9.2%	$255.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$7.9B-0.1%	$7.9B+24.8%	$6.3B-0.1%	$6.3B+10.0%	$5.7B-0.1%	$5.7B+36.4%	$4.2B+15.8%	$3.6B
Total Equity	$20.4B+12.5%	$18.1B+3.6%	$17.5B+7.1%	$16.4B+9.1%	$15.0B+1.6%	$14.8B+6.7%	$13.8B+62.1%	$8.5B
Retained Earnings	$3.7B+38.7%	$2.7B+8.3%	$2.5B+10.4%	$2.2B+77.0%	$1.3B+45.6%	$868.0M+1043.5%	-$92.0M+96.8%	-$2.8B

ATH-PA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$1.9B-62.4%	$5.0B-20.4%	$6.3B-39.2%	$10.3B+147.8%	$4.2B+56.4%	$2.7B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$61.9B-41.9%	-$43.6B-27.0%	-$34.4B-23.1%	-$27.9B-88.5%	-$14.8B-48.8%	-$10.0B
Financing Cash Flow	$59.4B+32.7%	$44.8B+69.1%	$26.5B+34.9%	$19.6B+35.5%	$14.5B+69.7%	$8.5B
Dividends Paid	$452.0M-51.8%	$937.0M-28.6%	$1.3B	$0	$0	N/A
Share Buybacks	N/A	$0	$0-100.0%	$8.0M-98.1%	$428.0M-48.6%	$832.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$636.0M-39.8%	$1.1B+147.9%	$426.0M+10.4%	$386.0M-26.5%	$525.0M+183.8%	$185.0M-85.5%	$1.3B+282.2%	-$702.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$13.4B+33.3%	-$20.1B-20.5%	-$16.7B-1.2%	-$16.5B-12.9%	-$14.6B+10.7%	-$16.4B-11.8%	-$14.7B-36.1%	-$10.8B
Financing Cash Flow	$18.5B+3.5%	$17.9B+16.0%	$15.4B-0.6%	$15.5B+31.2%	$11.8B-35.1%	$18.2B+8.0%	$16.9B+70.2%	$9.9B
Dividends Paid	$188.0M+0.5%	$187.0M-0.5%	$188.0M+141.0%	$78.0M-58.3%	$187.0M0.0%	$187.0M0.0%	$187.0M-0.5%	$188.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ATH-PA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	16.7%+0.2pp	16.6%+54.7pp	-38.2%-52.8pp	14.7%+4.2pp	10.4%-2.9pp	13.4%
Return on Equity	21.2%-12.6pp	33.7%	N/A	19.2%+10.9pp	8.3%-8.0pp	16.2%
Return on Assets	0.9%-0.6pp	1.6%+2.7pp	-1.2%-2.8pp	1.6%+0.9pp	0.8%-0.7pp	1.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.39+0.1	0.30-0.2	0.51+0.4	0.15+0.0	0.11+0.0	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	15.7%+7.1pp	8.7%-2.5pp	11.1%-15.7pp	26.8%+13.4pp	13.5%-7.4pp	20.8%-8.8pp	29.7%-4.2pp	33.8%
Return on Equity	6.2%+3.6pp	2.6%-0.1pp	2.6%-3.6pp	6.2%+2.0pp	4.2%-3.9pp	8.1%-13.4pp	21.5%+15.8pp	5.7%
Return on Assets	0.3%+0.2pp	0.1%0.0pp	0.1%-0.2pp	0.3%+0.1pp	0.2%-0.2pp	0.4%-0.6pp	1.0%+0.8pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.38-0.0	0.43+0.1	0.36-0.0	0.390.0	0.380.0	0.39+0.1	0.30-0.1	0.43
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Athene Holding Ltd. Depositary 's annual revenue?

Athene Holding Ltd. Depositary (ATH-PA) reported $20.7B in total revenue for fiscal year 2024. This represents a -26.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Athene Holding Ltd. Depositary 's revenue growing?

Athene Holding Ltd. Depositary (ATH-PA) revenue declined by 26.6% year-over-year, from $28.2B to $20.7B in fiscal year 2024.

Is Athene Holding Ltd. Depositary profitable?

Yes, Athene Holding Ltd. Depositary (ATH-PA) reported a net income of $3.5B in fiscal year 2024, with a net profit margin of 16.7%.

How much debt does Athene Holding Ltd. Depositary have?

As of fiscal year 2024, Athene Holding Ltd. Depositary (ATH-PA) had $14.3B in cash and equivalents against $6.3B in long-term debt.

What is Athene Holding Ltd. Depositary 's net profit margin?

Athene Holding Ltd. Depositary (ATH-PA) had a net profit margin of 16.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Athene Holding Ltd. Depositary 's return on equity (ROE)?

Athene Holding Ltd. Depositary (ATH-PA) has a return on equity of 21.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Athene Holding Ltd. Depositary 's operating cash flow?

Athene Holding Ltd. Depositary (ATH-PA) generated $1.9B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Athene Holding Ltd. Depositary 's total assets?

Athene Holding Ltd. Depositary (ATH-PA) had $363.3B in total assets as of fiscal year 2024, including both current and long-term assets.

What is Athene Holding Ltd. Depositary 's debt-to-equity ratio?

Athene Holding Ltd. Depositary (ATH-PA) had a debt-to-equity ratio of 0.39 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Athene Holding Ltd. Depositary 's return on assets (ROA)?

Athene Holding Ltd. Depositary (ATH-PA) had a return on assets of 0.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Athene Holding Ltd. Depositary 's Piotroski F-Score?

Athene Holding Ltd. Depositary (ATH-PA) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Athene Holding Ltd. Depositary 's earnings high quality?

Athene Holding Ltd. Depositary (ATH-PA) has an earnings quality ratio of 0.54x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.