Athene Holding Ltd. (ATH-PA) Financials
Newest figures come from the filing for Q3 FY2026, filed Nov 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ATH-PA SEC filings page.
Athene Holding Ltd. (ATH-PA) reported $24.0B in revenue over the twelve months to Sep 30, 2026, up 12.6% from the prior twelve months. This page shows its 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.
The business is expanding its balance sheet rapidly, but earnings and asset efficiency are weakening as liabilities remain the primary funding base.
Between FY2023 and FY2025, assets grew47.1% while net income fell41.9% , so expansion has not translated into proportional earnings. The combination of 2025 ROA at0.6% and liabilities at91.9% of assets points to a balance sheet whose scale is doing more work than its earning power.
Cash conversion reversed sharply in FY2025: operating cash flow reached
Long-term debt was modest relative to equity at a 0.4x debt-to-equity ratio. Yet total liabilities were
Financial Health Signals
We do not publish a peer-relative financial health score for Athene Holding Ltd., because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Athene Holding Ltd. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
Key Financial Metrics
Earnings & Revenue
Athene Holding Ltd. generated $3.1B in revenue in Q3 2026. This represents a decrease of 61.7% from the same quarter a year earlier. Against the prior quarter it is down 66.5%.
Athene Holding Ltd. reported a net loss of $1.1B in Q3 2026. This represents a decrease of 189.2% from the same quarter a year earlier. Against the prior quarter it is down 213.5%.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Athene Holding Ltd. held $18.6B in cash against $8.8B in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Athene Holding Ltd.'s net profit margin was -36.6% in Q3 2026, showing the share of revenue converted to profit. This is down 52.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 47.5 percentage points.
Athene Holding Ltd.'s quarterly ROE was -8.4% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 14.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.7 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
None of these metrics is reported for Q3 2026.
ATH-PA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1B-61.7% | $9.2B+70.8% | $3.7B-12.4% | $8.1B+115.1% | $8.0B+22.6% | $5.4B+14.9% | $4.2B-26.8% | $3.8B-62.2% |
| Income Tax | -$419.0M-257.5% | $217.0Mn/m | $1.7B+856.0% | $479.0M+574.6% | $266.0M+39.3% | -$34.0M-121.1% | $175.0M-43.0% | $71.0Mn/m |
| Net Income | -$1.1B-189.2% | $989.0M+113.1% | -$1.9B-516.8% | $523.0M-48.5% | $1.3B+101.4% | $464.0M-26.2% | $465.0M-61.0% | $1.0B-65.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
ATH-PA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $477.6B+11.1% | $472.9B+16.7% | $447.8B+17.4% | $442.2B+21.7% | $429.9B+21.1% | $405.3B+21.9% | $381.5B+19.0% | $363.3B+20.9% |
| Cash & Equivalents | $18.6B+3.5% | $23.7B+93.7% | $19.3B+44.0% | $16.9B+18.5% | $18.0B+20.9% | $12.2B-16.5% | $13.4B-12.1% | $14.3B+9.5% |
| Goodwill | $4.1B+0.2% | $4.1B+0.1% | $4.1B+0.3% | $4.1B+0.2% | $4.1B0.0% | $4.1B+0.3% | $4.1B+0.1% | $4.1B0.0% |
| Total Liabilities | $448.4B+13.0% | $438.1B+16.5% | $414.1B+17.1% | $406.6B+20.5% | $396.9B+21.1% | $376.1B+22.0% | $353.7B+18.9% | $337.5B+20.8% |
| Long-Term Debt | $8.8B+12.2% | $7.8B-0.4% | $7.8B+24.4% | $7.8B+24.4% | $7.9B+37.2% | $7.9B+37.2% | $6.3B+9.8% | $6.3B+49.9% |
| Total Equity | $13.4B-34.3% | $18.6B+2.5% | $17.8B+1.6% | $20.5B+25.3% | $20.4B+17.0% | $18.1B+21.0% | $17.5B+18.7% | $16.4B+18.2% |
| Retained Earnings | $1.1B-70.8% | $2.4B-8.8% | $1.7B-30.9% | $3.9B+74.1% | $3.7B+175.8% | $2.7B+111.6% | $2.5B+184.4% | $2.2Bn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
ATH-PA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $827.0M+30.0% | $1.8B+70.1% | $835.0M+96.0% | $3.0B+688.1% | $636.0M-18.5% | $1.1B+101.1% | $426.0M+130.3% | $386.0M-69.8% |
| Investing Cash Flow | -$15.5Bn/m | -$15.7Bn/m | -$7.9Bn/m | -$13.5Bn/m | -$13.4Bn/m | -$20.1Bn/m | -$16.7Bn/m | -$16.5Bn/m |
| Financing Cash Flow | $9.6B-48.4% | $18.3B+2.4% | $9.5B-38.7% | $9.4B-39.5% | $18.5B+34.1% | $17.9B+51.3% | $15.4B-15.3% | $15.5B-8.0% |
| Dividends Paid | $188.0M0.0% | $187.0M0.0% | $188.0M0.0% | $189.0M+142.3% | $188.0Mn/m | $187.0M0.0% | $188.0M+0.5% | $78.0M-58.3% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
ATH-PA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -36.6%-52.4pp | 10.8%+2.2pp | -52.8%-63.9pp | 6.4%-20.4pp | 15.7%+6.2pp | 8.7%-4.8pp | 11.1%-9.7pp | 26.8%-2.8pp |
| Return on Equity | -8.4%-14.5pp | 5.3%+2.8pp | -10.9%-13.5pp | 2.5%-3.7pp | 6.2%+2.6pp | 2.6%-1.6pp | 2.6%-5.4pp | 6.2%-15.3pp |
| Return on Assets | -0.2%-0.5pp | 0.2%+0.1pp | -0.4%-0.5pp | 0.1%-0.2pp | 0.3%+0.1pp | 0.1%-0.1pp | 0.1%-0.3pp | 0.3%-0.7pp |
| Debt-to-Equity | 0.66+0.3x | 0.420.0x | 0.44+0.1x | 0.380.0x | 0.38+0.1x | 0.43+0.1x | 0.360.0x | 0.39+0.1x |
| Liabilities-to-Equity | 33.43+14.0x | 23.55+2.8x | 23.26+3.1x | 19.84-0.8x | 19.44+0.7x | 20.72+0.2x | 20.190.0x | 20.63+0.4x |
| Asset Turnover | 0.010.0x | 0.020.0x | 0.010.0x | 0.020.0x | 0.020.0x | 0.010.0x | 0.010.0x | 0.010.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Athene Holding Ltd. ATH-PA | FY2025 | $25.7B | $2.7B | 10.6% | N/A | — |
| JPMorgan Chase & Co. JPM | FY2025 | $182.4B | $57.0B | 31.3% | $895.8B | 52/100 |
| VISA Inc. V | FY2026 | $45.9B | $23.5B | 51.2% | $789.8B | 76/100 |
| Mastercard Incorporated MA | FY2025 | $32.8B | $14.9B | 45.6% | $571.4B | 75/100 |
Where Athene Holding Ltd. Ranks
Frequently Asked Questions
Athene Holding Ltd. (ATH-PA) reported $25.7B in total revenue for fiscal year 2025. This represents a 24.1% 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.
Athene Holding Ltd. (ATH-PA) revenue grew by 24.1% year-over-year, from $20.7B to $25.7B in fiscal year 2025.
No, Athene Holding Ltd. (ATH-PA) reported a net loss of $1.5B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $2.7B, with a net profit margin of 10.6%.
As of fiscal year 2025, Athene Holding Ltd. (ATH-PA) had $16.9B in cash and equivalents against $7.8B in long-term debt.
Athene Holding Ltd. (ATH-PA) had a net profit margin of 10.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Athene Holding Ltd. (ATH-PA) has a return on equity of 13.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Athene Holding Ltd. (ATH-PA) generated $5.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Athene Holding Ltd. (ATH-PA) had $442.2B in total assets as of fiscal year 2025, including both current and long-term assets.
Athene Holding Ltd. (ATH-PA) had a debt-to-equity ratio of 0.38 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Athene Holding Ltd. (ATH-PA) had a liabilities-to-equity ratio of 19.84 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Athene Holding Ltd. (ATH-PA) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Athene Holding Ltd. (ATH-PA) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.