Brighthouse Financial, Inc.
Brighthouse Financial, Inc.
Brighthouse Financial, Inc. (BHF) — SEC Financial Statements & Analysis
Brighthouse Financial, Inc. (BHF) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Available For Sale Securities Debt Securities | 81,232 | 82,014 | 81,537 | 80,835 | 80,640 | 80,055 | 83,298 | 80,581 | 80,474 | 80,991 | 75,433 | 77,577 | |||||
Trading Securities Debt | 544 | 506 | 528 | 520 | 365 | 0 | - | - | - | - | - | - | |||||
Equity Securities Fv Ni Current And Noncurrent | 76 | 79 | 78 | 74 | 73 | 77 | 87 | 85 | 86 | 102 | 90 | 91 | |||||
Mortgage Loans On Real Estate Commercial And Consu… | 22,620 | 22,755 | 22,862 | 22,993 | 23,051 | 23,286 | 22,938 | 22,641 | 22,670 | 22,508 | 22,682 | 22,614 | |||||
Investments | |||||||||||||||||
Investments | 121,456 | 120,629 | 120,880 | 120,747 | 117,257 | 117,387 | 118,854 | 115,299 | 115,894 | 115,456 | 108,660 | 111,286 | |||||
Loans Insurance Policy | 1,458 | 1,450 | 1,439 | 1,425 | 1,436 | 2,024 | 1,387 | 1,470 | 1,651 | 1,331 | 1,311 | 1,288 | |||||
Real Estate Investments | 4,673 | 4,696 | 4,816 | 4,798 | 4,839 | 4,827 | 4,870 | 4,938 | 4,920 | 4,946 | 4,931 | 4,914 | |||||
Other Short Term Investments | 1,236 | 1,197 | 778 | 1,170 | 1,569 | 1,868 | 1,812 | 1,390 | 1,347 | 1,169 | 1,003 | 1,125 | |||||
Other Investments | 9,617 | 7,932 | 8,842 | 8,932 | 5,284 | 5,250 | 4,462 | 4,194 | 4,746 | 4,409 | 3,210 | 3,677 | |||||
Cash And Cash Equivalents At Carrying Value | 4,907 | 5,387 | 6,606 | 5,540 | 4,667 | 5,045 | 5,630 | 4,441 | 3,823 | 3,851 | 3,839 | 3,737 | |||||
Accrued Investment Income Receivable | 1,302 | 1,260 | 1,350 | 1,235 | 1,267 | 1,277 | 2,083 | 1,169 | 1,297 | 1,183 | 1,143 | 1,027 | |||||
Premiums And Other Receivables Net | 20,826 | 21,579 | 21,244 | 21,258 | 21,188 | 21,126 | 20,692 | 20,043 | 20,234 | 19,761 | 19,066 | 19,223 | |||||
Deferred Policy Acquisition Costs And Value Of Bus… | 4,520 | 4,567 | 4,603 | 4,636 | 4,672 | 4,710 | 4,745 | 4,791 | 4,829 | 4,872 | 4,919 | 4,968 | |||||
Income Tax Receivable | 16 | 16 | 17 | 17 | 20 | 19 | 28 | 28 | 28 | 27 | 31 | 31 | |||||
Deferred Income Tax Assets Net | 1,781 | 1,442 | 1,531 | 1,695 | 1,808 | 1,875 | 1,737 | 2,087 | 2,063 | 1,893 | 2,121 | 1,897 | |||||
Market Risk Benefit Asset Amount | 850 | 1,060 | 979 | 1,084 | 914 | 1,092 | 750 | 916 | 839 | 656 | 694 | 602 | |||||
Other Assets | 324 | 332 | 342 | 348 | 364 | 370 | 324 | 404 | 349 | 370 | 368 | 382 | |||||
Separate Account Assets | 80,821 | 85,528 | 87,127 | 86,085 | 82,524 | 85,636 | 90,313 | 88,260 | 90,332 | 88,271 | 82,675 | 88,392 | |||||
Assets | 236,803 | 241,800 | 244,679 | 242,645 | 234,681 | 238,537 | 245,156 | 237,438 | 239,688 | 236,340 | 223,516 | 231,545 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liability For Future Policy Benefit After Reinsura… | 31,773 | 32,025 | 32,021 | 31,974 | 31,834 | 31,475 | 32,781 | 31,886 | 32,245 | 32,569 | 30,404 | 31,899 | |||||
Policyholder Contract Deposits | 86,379 | 87,952 | 88,703 | 88,046 | 85,618 | 87,989 | 87,678 | 85,865 | 84,159 | 81,068 | 78,371 | 78,643 | |||||
Market Risk Benefit Liability Amount | 8,564 | 8,063 | 8,529 | 8,051 | 9,165 | 8,329 | 9,580 | 8,708 | 8,964 | 10,323 | 8,830 | 9,783 | |||||
Other Policyholder Funds | 3,994 | 3,893 | 3,918 | 3,977 | 3,866 | 3,878 | 3,853 | 3,796 | 3,798 | 3,836 | 3,806 | 3,784 | |||||
Obligation To Return Securities Received As Collat… | 4,661 | 4,705 | 4,347 | 3,994 | 3,904 | 3,891 | 3,764 | 3,906 | 3,653 | 3,670 | 3,941 | 4,133 | |||||
Liabilities | |||||||||||||||||
Liabilities | 231,175 | 234,967 | 238,251 | 236,907 | 229,377 | 233,513 | 239,566 | 233,232 | 235,428 | 231,332 | 219,382 | 226,573 | |||||
Long Term Debt | 3,154 | 3,155 | 3,155 | 3,155 | 3,155 | 3,155 | 3,155 | 3,155 | 3,155 | 3,156 | 3,157 | 3,156 | |||||
Other Liabilities | 11,829 | 9,646 | 10,451 | 11,625 | 9,311 | 9,160 | 8,442 | 7,656 | 9,122 | 8,439 | 8,198 | 6,783 | |||||
Separate Accounts Liability | 80,821 | 85,528 | 87,127 | 86,085 | 82,524 | 85,636 | 90,313 | 88,260 | 90,332 | 88,271 | 82,675 | 88,392 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Additional Paid In Capital | 13,869 | 13,870 | 13,893 | 13,918 | 13,939 | 13,927 | 13,953 | 13,972 | 13,989 | 14,004 | 14,022 | 14,039 | |||||
Stockholders Equity | |||||||||||||||||
Retained Earnings Accumulated Deficit | -1,452 | -686 | -823 | -1,302 | -1,387 | -1,119 | -1,790 | -1,966 | -2,000 | -1,507 | -590 | -1,069 | |||||
Stockholders Equity | 5,563 | 6,768 | 6,428 | 5,673 | 5,304 | 4,959 | 5,590 | 4,141 | 4,195 | 5,008 | 4,134 | 4,972 | |||||
Treasury Stock Value | -2,699 | -2,688 | -2,688 | -2,687 | -2,644 | -2,572 | -2,512 | -2,447 | -2,382 | -2,309 | -2,248 | -2,183 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -4,156 | -3,729 | -4,020 | -4,257 | -4,670 | -5,278 | -4,127 | -5,419 | -5,413 | -5,246 | -7,116 | -5,881 | |||||
Minority Interest | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | |||||
Liabilities And Stockholders Equity | 236,803 | 241,800 | 244,679 | 242,645 | 234,681 | 238,537 | 245,156 | 237,438 | 239,688 | 236,340 | 223,516 | 231,545 | |||||
Available For Sale Debt Securities Amortized Cost … | 87,206 | 87,046 | 86,564 | 86,762 | 87,070 | 87,603 | 87,838 | 88,176 | 87,555 | 87,131 | 86,373 | 85,570 | |||||
Debt Securities Available For Sale Allowance For C… | 65 | 64 | 64 | 67 | 56 | 81 | 61 | 45 | 27 | 21 | 22 | 12 | |||||
Allowance For Loan And Lease Losses Real Estate | 210 | 200 | 205 | 209 | 209 | 178 | 167 | 155 | 142 | 137 | 137 | 145 | |||||
Reinsurance Recoverables Allowance | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 13 | 10 | |||||
Equity | |||||||||||||||||
Preferred Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Preferred Stock Liquidation Preference Value | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | 1,753 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||
Common Stock Shares Issued | 125 | 124 | 124 | 124 | 124 | 123 | 123 | 123 | 123 | 123 | 123 | 123 | |||||
Shares Outstanding | 57 | 57 | 57 | 57 | 58 | 59 | 60 | 61 | 63 | 64 | 65 | 66 | |||||
Treasury Stock Common Shares | 67 | 67 | 67 | 67 | 66 | 65 | 64 | 62 | 61 | 59 | 58 | 57 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.41% | 2.38% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 1.82% | -7.32% | -14.52% | 6.15% | 25.20% | 4.76% | -0.70% | -1.76% | -2.88% | -4.06% | 0.58% | 1.10% |
| 2024 | -2.75% | -5.31% | 7.28% | 8.87% | 5.86% | 12.45% | 3.48% | -4.53% | 0.34% | -2.24% | -14.60% | 2.83% |
| 2023 | 4.11% | 13.14% | 23.87% | 0.85% | -3.51% | -11.99% | 12.58% | 13.25% | 14.96% | -0.27% | 0.52% | -4.25% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Efficiency & Turnover | |||||||||||||||||
| Days Sales Outstanding TTM | 1,298.93 | 1,151.89 | 1,218.29 | 1,162.47 | 1,073.79 | 1,579.57 | 1,475.06 | 1,760.27 | 2,461.02 | 1,698.18 | 2,603.13 | 2,575.90 | |||||
| Receivables Turnover TTM | 0.28 | 0.32 | 0.30 | 0.31 | 0.34 | 0.23 | 0.25 | 0.21 | 0.15 | 0.21 | 0.14 | 0.14 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -1.53 | 7.56 | 16.95 | 11.64 | 11.09 | 6.38 | -19.61 | -14.33 | -17.47 | -16.77 | -0.81 | -1.39 | |||||
| Free Cash Flow Per Share TTM | -1.88 | 4.50 | 2.52 | 0.89 | 6.63 | -4.74 | -0.33 | 4.76 | -2.65 | -2.08 | -7.87 | -27.22 | |||||
| Dividend Per Share TTM | 1.78 | 1.77 | 1.78 | 1.78 | 1.75 | 1.67 | 1.68 | 1.65 | 1.62 | 1.55 | 1.57 | 1.53 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 69.63% | 73.32% | 71.82% | 68.48% | 71.95% | 51.44% | 52.39% | 28.52% | -1.72% | 35.00% | 13.78% | 14.33% | |||||
| Operating Profit Margin TTM | -2.68% | 7.01% | 18.43% | 11.74% | 9.69% | 8.93% | -32.24% | -29.08% | -49.36% | -35.80% | -10.04% | -13.30% | |||||
| Net Profit Margin TTM | -1.49% | 6.47% | 15.52% | 10.36% | 9.18% | 8.32% | -24.29% | -21.91% | -37.87% | -26.89% | -2.05% | -3.66% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | -16.15% | 43.23% | 27.71% | 59.27% | 142.17% | 14.74% | 89.92% | 60.21% | -52.69% | -40.10% | -71.27% | -75.58% | |||||
| Net Income Growth (1Y) | -113.62% | 11.45% | -181.59% | -175.34% | -158.67% | -135.50% | 2,154.72% | 859.14% | -161.13% | -128.50% | -101.43% | -102.55% | |||||
| EPS Growth (1Y) | -113.84% | 18.57% | -186.42% | -181.30% | -163.49% | -138.29% | 2,333.58% | 932.91% | -165.82% | -131.51% | -101.56% | -102.85% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -39.01 | 8.51 | 3.11 | 4.59 | 5.23 | 7.48 | -2.28 | -3.01 | -2.95 | -3.16 | -60.40 | -33.97 | |||||
| P/B | 0.61 | 0.55 | 0.47 | 0.54 | 0.64 | 0.59 | 0.49 | 0.64 | 0.76 | 0.70 | 0.77 | 0.64 | |||||
| P/S TTM | 0.58 | 0.55 | 0.48 | 0.48 | 0.48 | 0.62 | 0.55 | 0.66 | 1.12 | 0.85 | 1.24 | 1.24 | |||||
| Market Cap | 3.43B | 3.73B | 3.04B | 3.09B | 3.38B | 2.94B | 2.73B | 2.69B | 3.25B | 3.49B | 3.20B | 3.16B | |||||
| Enterprise Value | 1.68B | 1.50B | -413.98M | 702.01M | 1.87B | 1.05B | 253.86M | 1.40B | 2.58B | 2.80B | 2.52B | 2.58B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -108.00M | 259.00M | 144.00M | 51.00M | 386.00M | -290.00M | -20.00M | 295.00M | -167.00M | -137.00M | -515.00M | -1.82B | |||||
| Net Debt | -1.75B | -2.23B | -3.45B | -2.39B | -1.51B | -1.89B | -2.48B | -1.29B | -668.00M | -695.00M | -682.00M | -581.00M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
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| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
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| Altman D | |||||||||||||||||
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| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
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| NOPAT TTM | |||||||||||||||||
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| Payout Ratio TTM | |||||||||||||||||
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| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
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| EV EBITDA TTM | |||||||||||||||||
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| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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