Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) Financials
Newest figures come from the 10-Q 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 ATHS SEC filings page.
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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 (10-K and 10-Q reports).
The business is asset-heavy and liability-financed, while recent expansion has produced weaker returns and uneven conversion of profit into cash.
In FY2024, operating cash flow was only$1.88B , or54.2% of net income. In FY2025, it reached$5.16B and equaled190.3% of net income, showing that reported profit is not a stable proxy for cash generation across periods.
From FY2023 to FY2025, assets expanded
Revenue recovered in FY2025, but net profit margin fell
Financial Health Signals
We do not publish a peer-relative financial health score for Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064, because the score only covers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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 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.
For every $1 of reported earnings, Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 generates $1.90 in operating cash flow ($5.2B OCF vs $2.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064'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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064'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.
ATHS 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| 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).
ATHS 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| 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.
ATHS 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| 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.
ATHS 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| 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.
Where Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 Ranks
Frequently Asked Questions
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) revenue grew by 24.1% year-over-year, from $20.7B to $25.7B in fiscal year 2025.
No, Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) had $16.9B in cash and equivalents against $7.8B in long-term debt.
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) generated $5.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) had $442.2B in total assets as of fiscal year 2025, including both current and long-term assets.
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) 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.
Athene Holding Ltd. 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064 (ATHS) has an earnings quality ratio of 1.90x, considered cash-backed (high 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.