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Brighthouse Financial, Inc. (BHF) Financials

BHF
Trailing 12 months to June 30, 2026
Revenue $6.7B +2.6% YoY
Net Income $729.0M +29.7% YoY
EPS (Diluted) $12.53 +40.6% YoY
Operating Cash Flow -$538.0M -1154.9% YoY
Market Cap $2.8B as of Oct 8, 2026
Price / Sales 0.4x on $6.7B revenue, trailing 12 months to June 30, 2026
Price / Earnings 3.9x on $729.0M net income, trailing 12 months to June 30, 2026
Price / Book 0.4x on $6.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BHF SEC filings page.

Brighthouse Financial, Inc. (BHF) reported $6.7B in revenue over the twelve months to Jun 30, 2026, up 2.6% 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).

Rhea AI BHF FY2025

Brighthouse runs a massive liability-funded balance sheet where earnings recovery is improving cash flow but not making it cash-rich.

FY2024 paired positive net income with negative operating cash flow; FY2025 paired both with positive readings, an earnings-quality improvement rather than merely a larger accounting profit. Even then, FY2025 operating cash flow was only 0.1% of $241.8B of assets, showing that the balance sheet—not near-term cash generation—is the dominant operating feature.

Capital structure looks thin relative to the asset base: FY2025 liabilities were about 97.2% of assets, leaving equity at roughly 2.8%. Debt-to-equity improved to 0.5x from 0.6x while long-term debt stayed near $3.2B, indicating the ratio improved mainly because equity rebuilt, not because borrowings were materially reduced.

FY2025 revenue reached $6.8B, yet net profit margin was 4.9%, down from 6.1% in FY2024; growth did not widen earnings conversion. The move from a FY2023 net loss of $1.2B to profits in the next two years marks a recovery, but also shows that reported earnings have been highly variable.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Loss Ratio PremiumGrowth Capital Investment Yield CombinedRatio Stability 5 / 100
Financial Health Score 5/100
Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Brighthouse Financial, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio
3

Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Brighthouse Financial, Inc. scores 3/100 on it among other insurers.

Premium Growth
0

Not available for Brighthouse Financial, Inc., and counted as zero in the overall score.

Capital
7

Brighthouse Financial, Inc. funded 2.8% of its assets with shareholders' equity at the end of fiscal year 2025, holding $6.8B of equity against $241.8B of assets. Capital ranks insurers on that cushion, and Brighthouse Financial, Inc. scores 7/100 among other insurers.

Investment Yield
0

Not available for Brighthouse Financial, Inc., and counted as zero in the overall score.

Combined Ratio
2

Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Brighthouse Financial, Inc. scores 2/100 on it among other insurers.

Stability
16

Brighthouse Financial, Inc. reported net income of $331.0M in fiscal year 2025, against $286.0M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Brighthouse Financial, Inc. scores 16/100 among other insurers.

Piotroski F-Score Partial
6/7

Brighthouse Financial, Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.78x

For every $1 of reported earnings, Brighthouse Financial, Inc. generates $0.78 in operating cash flow ($259.0M OCF vs $331.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.6B
YoY+86.2%
QoQ+6.2%

Brighthouse Financial, Inc. generated $1.6B in revenue in Q2 2026. This represents an increase of 86.2% from the same quarter a year earlier. Against the prior quarter it is up 6.2%.

Net Income
$981.0M
YoY+1054.1%
QoQ+228.1%

Brighthouse Financial, Inc. reported $981.0M in net income in Q2 2026. This represents an increase of 1054.1% from the same quarter a year earlier. Against the prior quarter it is up 228.1%.

EPS (Diluted)
$16.53
YoY+1520.6%
QoQ+219.6%
5Y CAGR+172.5%

Brighthouse Financial, Inc. earned $16.53 per diluted share (EPS) in Q2 2026. This represents an increase of 1520.6% from the same quarter a year earlier. Against the prior quarter it is up 219.6%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$7.1B
YoY+28.2%
QoQ+44.8%
5Y CAGR+7.8%

Brighthouse Financial, Inc. held $7.1B in cash against $3.2B in long-term debt as of Q2 2026.

Shares Outstanding
58M
YoY+0.6%
QoQ+0.1%
5Y CAGR-7.1%

Brighthouse Financial, Inc. had 58M shares outstanding in Q2 2026. This represents an increase of 0.6% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Net Margin
60.5%
YoY+50.7pp
QoQ+110.6pp

Brighthouse Financial, Inc.'s net profit margin was 60.5% in Q2 2026, showing the share of revenue converted to profit. This is up 50.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 110.6 percentage points.

Return on Equity
15.0%
YoY+13.5pp
QoQ+28.7pp

Brighthouse Financial, Inc.'s ROE was 15.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 13.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 28.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks
$0
YoY-100.0%

Brighthouse Financial, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

BHF 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.

BHF quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$1.6B+86.2%$1.5B-36.1%$1.7B+40.2%$1.8B-10.0%$871.0M-39.0%$2.4B+3129.7%$1.2B-13.9%$2.0B+72.5%
SG&A Expenses$111.0M+7.8%$114.0M-12.3%$116.0M+23.4%$100.0M-2.0%$103.0M+2.0%$130.0M+17.1%$94.0M$102.0M+4.1%
Interest Expense$38.0M0.0%$38.0M0.0%$38.0M0.0%$38.0M0.0%$38.0M0.0%$38.0M0.0%$38.0M$38.0M0.0%
Income Tax$245.0M+2962.5%-$222.0M-152.3%$12.0M-92.6%$104.0M+940.0%$8.0M+140.0%-$88.0M+28.5%$162.0M$10.0M-90.8%
Net Income$981.0M+1054.1%-$766.0M-185.8%$35.0M-93.8%$479.0M+172.2%$85.0M+150.0%-$268.0M+45.6%$569.0M+162.1%$176.0M-63.3%
EPS (Basic)$16.62+1513.6%-$13.82-174.2%$1.95-81.4%$7.93+218.5%$1.03+758.3%-$5.04+38.7%$10.49+171.4%$2.49-64.0%
EPS (Diluted)$16.53+1520.6%-$13.82-174.2%$1.93$7.89+219.4%$1.02-$5.04+38.7%$10.46+171.2%$2.47-64.2%
Diluted Shares (Avg)58M+0.2%57M-1.6%N/A58M-5.6%58M58M-7.6%N/A61M-7.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

BHF 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.

BHF quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$247.2B+1.9%$236.8B+0.9%$241.8B+1.4%$244.7B-0.2%$242.6B+2.2%$234.7B-2.1%$238.5B+0.9%$245.2B+9.7%
Cash & Equivalents$7.1B+28.2%$4.9B+5.1%$5.4B+6.8%$6.6B+17.3%$5.5B+24.7%$4.7B+22.1%$5.0B+31.0%$5.6B+46.7%
Short-Term Investments$960.0M-17.9%$1.2B-21.2%$1.2B-35.9%$778.0M-57.1%$1.2B-15.8%$1.6B+16.5%$1.9B+59.8%$1.8B+80.7%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$240.6B+1.5%$231.2B+0.8%$235.0B+0.6%$238.3B-0.5%$236.9B+1.6%$229.4B-2.6%$233.5B+0.9%$239.6B+9.2%
Long-Term Debt$3.2B0.0%$3.2B0.0%$3.2B0.0%$3.2B0.0%$3.2B0.0%$3.2B0.0%$3.2B0.0%$3.2B-0.1%
Total Equity$6.5B+15.5%$5.6B+6.2%$6.8B+36.5%$6.4B+15.2%$5.7B+37.0%$5.2B+24.9%$5.0B+0.3%$5.5B+35.8%
Retained Earnings-$471.0M+63.8%-$1.5B-4.7%-$686.0M+38.7%-$823.0M+54.0%-$1.3B+33.8%-$1.4B+30.6%-$1.1B+25.7%-$1.8B-203.4%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.

BHF 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.

BHF quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$431.0M-43000.0%-$221.0M-251.4%-$3.0M+97.5%$117.0M+387.5%-$1.0M-100.3%$146.0M+127.5%-$118.0M-177.6%$24.0M-92.9%
Investing Cash Flow-$97.0M-186.6%-$485.0M-186.1%-$1.3B-263.0%$1.4B+1155.4%$112.0M+110.4%$563.0M+190.1%-$357.0M+35.3%-$130.0M+86.8%
Financing Cash Flow$2.7B+257.7%$226.0M+120.8%$80.0M+172.7%-$423.0M-132.7%$762.0M-44.2%-$1.1B-196.5%-$110.0M-126.7%$1.3B+73.1%
Share Buybacks$0-100.0%$0-100.0%$0-100.0%$0-100.0%$43.0M-32.8%$59.0M-4.8%$60.0M0.0%$64.0M0.0%

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid.

BHF 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.

BHF quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Net Margin60.5%+50.7pp-50.2%-39.0pp2.1%-45.1pp26.4%+17.7pp9.8%+7.4pp-11.2%47.2%+112.7pp8.7%-32.2pp
Return on Equity15.0%+13.5pp-13.8%-8.6pp0.5%-10.9pp7.5%+4.3pp1.5%+0.7pp-5.1%+6.6pp11.5%+30.0pp3.2%-8.6pp
Return on Assets0.4%+0.4pp-0.3%-0.2pp0.0%-0.2pp0.2%+0.1pp0.0%0.0pp-0.1%+0.1pp0.2%+0.6pp0.1%-0.1pp
Debt-to-Equity0.48-0.1x0.570.0x0.47-0.2x0.50-0.1x0.56-0.2x0.60-0.1x0.640.0x0.57-0.2x
Asset Turnover0.010.0x0.010.0x0.010.0x0.010.0x0.000.0x0.010.0x0.010.0x0.010.0x

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.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Brighthouse Financial, Inc. BHF FY2025 $6.8B $331.0M 4.9% $2.8B 5/100
Genworth Financial, Inc. GNW FY2025 $7.3B $223.0M 3.0% $3.6B 15/100
F&G Annuities & Life, Inc. FG FY2025 $5.7B $248.0M 4.3% $2.6B 9/100
CNO Financial Group, Inc. CNO FY2025 $4.5B $229.3M 5.1% $4.9B 26/100
Lincoln National Corp. LNC FY2025 $18.2B $1.2B 6.5% $7.8B 18/100
Jackson Financial Inc. JXN FY2025 $6.7B -$17.0M -0.3% $8.8B 8/100

Frequently Asked Questions

What is Brighthouse Financial, Inc.'s annual revenue?

Brighthouse Financial, Inc. (BHF) reported $6.8B in total revenue for fiscal year 2025. This represents a 43.2% 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 Brighthouse Financial, Inc.'s revenue growing?

Brighthouse Financial, Inc. (BHF) revenue grew by 43.2% year-over-year, from $4.7B to $6.8B in fiscal year 2025.

Is Brighthouse Financial, Inc. profitable?

Yes, Brighthouse Financial, Inc. (BHF) reported a net income of $331.0M in fiscal year 2025, with a net profit margin of 4.9%.

Brighthouse Financial, Inc. (BHF) reported diluted earnings per share of $5.71 for fiscal year 2025. This represents a 23.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Brighthouse Financial, Inc. (BHF) had $5.4B in cash and equivalents against $3.2B in long-term debt.

Brighthouse Financial, Inc. (BHF) had a net profit margin of 4.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Brighthouse Financial, Inc. (BHF) has a return on equity of 4.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Brighthouse Financial, Inc. (BHF) generated $259.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Brighthouse Financial, Inc. (BHF) had $241.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Brighthouse Financial, Inc. (BHF) spent $102.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Brighthouse Financial, Inc. (BHF) had 57M shares outstanding as of fiscal year 2025.

Brighthouse Financial, Inc. (BHF) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Brighthouse Financial, Inc. (BHF) had a return on assets of 0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Brighthouse Financial, Inc. (BHF) trades at 3.9x earnings, its market capitalization divided by net income of $729.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.8B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Brighthouse Financial, Inc. (BHF) trades at 0.4x sales, its market capitalization divided by revenue of $6.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.8B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Brighthouse Financial, Inc. (BHF) has a Piotroski F-Score of 6 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.

Brighthouse Financial, Inc. (BHF) has an earnings quality ratio of 0.78x, 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.

Brighthouse Financial, Inc. (BHF) scores 5 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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