Equitable (EQH) Financials

$53.90 +2.10 (+4.06%)

Closing price 03:59 PM Eastern

Extended Trading

$53.97 +0.06 (+0.12%)

As of 06:08 PM Eastern

Annual Income Statements for Equitable

This table shows Equitable's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Net Income / (Loss) Attributable to Common Shareholders	1,227	1,222	2,073	1,676	-701	-1,764	1,855	834	1,254
Consolidated Net Income / (Loss)	1,823	1,643	2,394	2,170	-349	-1,467	2,189	1,257	1,649
Net Income / (Loss) Continuing Operations	1,823	1,643	2,394	2,170	-349	-1,467	2,189	1,257	1,649
Total Pre-Tax Income	2,111	738	2,992	2,609	-1,093	-2,060	2,490	1,306	2,027
Total Operating Income	4,975	3,837	5,614	3,217	-415	-649	3,874	1,481	2,269
Total Gross Profit	7,433	6,159	8,672	1,595	4,249	3,080	7,220	5,134	5,557
Total Revenue	12,570	11,241	13,589	6,746	11,671	9,546	12,155	12,475	11,831
Operating Revenue	15,121	13,638	12,682	13,895	13,393	13,558	12,405	12,261	13,679
Other Revenue	-2,551	-2,397	907	-7,149	-1,722	-4,012	-250	214	-1,848
Total Cost of Revenue	5,137	5,082	4,917	5,151	7,422	6,466	4,935	7,341	6,274
Operating Cost of Revenue	5,137	5,082	4,917	5,151	7,422	6,466	4,935	7,341	6,274
Total Operating Expenses	2,458	2,322	3,058	-1,622	4,664	3,729	3,346	3,653	3,288
Selling, General & Admin Expense	1,822	1,898	2,185	2,107	1,700	1,890	1,810	2,069	1,509
Amortization Expense	711	641	586	552	1,613	597	371	503	779
Other Operating Expenses / (Income)	-75	-217	287	-4,281	1,351	1,242	1,165	1,081	1,000
Total Other Income / (Expense), net	-2,864	-3,099	-2,622	-608	-678	-1,411	-1,384	-175	-242
Interest Expense	2,731	2,386	1,677	1,476	1,422	1,484	1,298	160	174
Other Income / (Expense), net	-133	-713	-945	868	744	73	-86	-	-
Income Tax Expense	288	-905	598	439	-744	-593	301	49	378
Preferred Stock Dividends Declared	80	80	80	79	53	0.00	0.00	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	516	341	241	415	299	297	334	423	395
Basic Earnings per Share	$3.82	$3.49	$5.49	$4.02	($1.56)	($3.57)	$3.33	$1.49	$2.24
Weighted Average Basic Shares Outstanding	321.20M	350.10M	377.60M	417.40M	450.40M	493.60M	556.40M	561M	561M
Diluted Earnings per Share	$3.78	$3.48	$5.46	$3.98	($1.56)	($3.57)	$3.33	$1.49	$2.24
Weighted Average Diluted Shares Outstanding	324.80M	351.60M	379.90M	421.20M	450.40M	493.60M	556.50M	561M	561M
Weighted Average Basic & Diluted Shares Outstanding	307.82M	329.71M	361.81M	389.56M	435.54M	463.71M	521.19M	-	-
Cash Dividends to Common per Share	$0.94	$0.86	$0.78	$0.71	$0.66	$0.58	$0.26	$0.00	$0.00

This table shows Equitable's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	49	873	-148	402	100	-724	1,050	733	163	36	580
Consolidated Net Income / (Loss)	150	1,015	26	565	217	-589	1,135	831	266	138	648
Net Income / (Loss) Continuing Operations	150	1,015	26	565	217	-589	1,135	831	266	138	648
Total Pre-Tax Income	174	1,197	-14	681	247	-817	1,475	539	-459	158	825
Total Operating Income	919	1,906	811	1,348	910	40	2,546	1,095	156	1,000	1,606
Total Gross Profit	3,230	2,629	1,888	1,944	972	563	2,749	1,716	1,131	969	2,127
Total Revenue	4,590	3,669	3,122	3,510	2,269	2,385	4,035	2,377	2,444	1,871	3,324
Operating Revenue	3,791	3,922	3,836	3,718	3,645	3,639	3,420	3,294	3,285	3,180	3,125
Other Revenue	799	-253	-714	-208	-1,376	-1,254	615	-917	-841	-1,309	199
Total Cost of Revenue	1,360	1,040	1,234	1,566	1,297	1,822	1,286	661	1,313	902	1,197
Operating Cost of Revenue	1,360	1,040	1,234	1,566	1,297	1,822	1,286	661	1,313	902	1,197
Total Operating Expenses	2,311	723	1,077	596	62	523	203	621	975	-31	521
Selling, General & Admin Expense	950	513	329	427	553	559	450	466	423	572	496
Amortization Expense	188	186	184	169	172	169	165	155	152	150	148
Other Operating Expenses / (Income)	1,173	-	564	-	-663	-	-412	-	400	-753	-123
Total Other Income / (Expense), net	-745	-709	-825	-667	-663	-857	-1,071	-556	-615	-842	-781
Interest Expense	731	661	779	667	624	642	660	556	528	787	449
Other Income / (Expense), net	-14	-	-46	-	-39	-	-411	-	-87	-55	-332
Income Tax Expense	24	182	-40	116	30	-228	340	-292	-725	20	177
Preferred Stock Dividends Declared	14	26	14	26	14	26	14	26	14	26	14
Net Income / (Loss) Attributable to Noncontrolling Interest	87	116	160	137	103	109	71	72	89	76	54
Basic Earnings per Share	$0.16	$2.75	($0.47)	$1.24	$0.30	($2.05)	$3.03	$2.06	$0.45	$0.13	$1.55
Weighted Average Basic Shares Outstanding	307.80M	321.20M	318.20M	324.20M	330.20M	350.10M	346.40M	355.20M	361.90M	377.60M	374.50M
Diluted Earnings per Share	$0.16	$2.72	($0.47)	$1.23	$0.30	($2.05)	$3.02	$2.06	$0.45	$0.13	$1.54
Weighted Average Diluted Shares Outstanding	311.90M	324.80M	318.20M	327.30M	332.70M	351.60M	348M	356.10M	364.10M	379.90M	376.80M
Weighted Average Basic & Diluted Shares Outstanding	303.90M	307.82M	313.34M	319.76M	325.24M	329.71M	338.49M	347.35M	356.08M	361.81M	370.04M

This table details how cash moves in and out of Equitable's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Net Change in Cash & Equivalents	-1,428	3,964	-748	-952	1,813	1.00	-333	-840	-903
Net Cash From Operating Activities	2,006	-208	-250	-193	-61	-216	61	-243	-236
Net Cash From Continuing Operating Activities	2,006	-208	-250	-193	-61	-216	61	-243	-236
Net Income / (Loss) Continuing Operations	1,823	1,643	2,394	2,170	-349	-1,467	2,189	1,257	1,649
Consolidated Net Income / (Loss)	1,823	1,643	2,394	2,170	-349	-1,467	2,189	1,257	1,649
Depreciation Expense	860	812	636	519	1,757	675	296	399	758
Non-Cash Adjustments To Reconcile Net Income	-107	-758	-3,195	-2,364	-438	666	-2,582	-1,449	-1,942
Changes in Operating Assets and Liabilities, net	-570	-1,905	-85	-518	-1,031	-90	158	-450	-701
Net Cash From Investing Activities	-15,855	-4,851	-7,487	-12,689	-7,823	-8,496	-2,049	-9,689	-5,768
Net Cash From Continuing Investing Activities	-15,855	-4,851	-7,487	-12,689	-7,823	-8,496	-2,049	-9,689	-5,768
Purchase of Property, Plant & Equipment	-153	-117	-167	-120	-107	-93	-123	-102	-98
Acquisitions	0.00	0.00	40	0.00	0.00	-	-	-130	-72
Purchase of Investments	-27,109	-18,317	-22,014	-52,096	-30,315	-34,893	-29,486	-35,853	-25,448
Sale of Property, Plant & Equipment	1,170	446	1,154	1,696	630	952	768	-	740
Divestitures	0.00	0.00	0.00	215	219	5.00	139	0.00	136
Sale and/or Maturity of Investments	13,634	15,517	17,066	41,396	23,657	26,993	27,151	27,354	20,052
Other Investing Activities, net	-3,397	-2,380	-3,566	-3,780	-1,907	-1,460	-498	-958	-1,078
Net Cash From Financing Activities	12,441	9,000	7,045	11,948	9,674	8,705	1,655	9,070	5,111
Net Cash From Continuing Financing Activities	12,518	9,000	7,045	11,948	9,674	8,705	1,655	9,070	5,111
Repayment of Debt	-11,292	-10,316	-6,827	-7,304	-4,284	-4,899	-9,034	-4,125	-4,989
Repurchase of Preferred Equity	-55	0.00	0.00	-	-	-573	-1,314	-	-
Repurchase of Common Equity	-1,014	-919	-849	-1,637	-430	-1,350	-648	0.00	0.00
Payment of Dividends	-766	-715	-775	-767	-654	-541	-503	-348	-294
Issuance of Debt	0.00	497	0.00	0.00	0.00	-546	4,057	1,394	4.00
Other Financing Activities, net	25,645	20,453	15,496	21,363	14,548	15,839	9,097	12,149	10,163
Effect of Exchange Rate Changes	-20	23	-56	-18	23	8.00	-	22	-10
Cash Interest Paid	318	344	263	215	215	273	178	119	119
Cash Income Taxes Paid	-38	266	89	305	-173	-506	57	31	31

This table details how cash moves in and out of Equitable's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	1,200	-2,615	-105	-992	2,284	2,135	-1,587	2,674	742	301	-970
Net Cash From Operating Activities	158	400	683	892	31	-392	410	361	-587	61	229
Net Cash From Continuing Operating Activities	158	400	683	892	31	-393	411	361	-587	61	229
Net Income / (Loss) Continuing Operations	150	1,015	26	565	217	-589	1,135	831	266	138	648
Consolidated Net Income / (Loss)	150	1,015	26	565	217	-589	1,135	831	266	138	648
Depreciation Expense	213	220	211	189	240	236	196	156	224	245	213
Non-Cash Adjustments To Reconcile Net Income	24	-858	686	331	-266	354	-995	37	-154	-317	-610
Changes in Operating Assets and Liabilities, net	-229	23	-240	-193	-160	-394	75	-663	-923	-5.00	-22
Net Cash From Investing Activities	-1,199	-5,536	-2,392	-5,245	-2,682	115	-2,449	-1,087	-1,430	-3,215	-2,524
Net Cash From Continuing Investing Activities	-1,199	-5,536	-2,392	-5,245	-2,682	115	-2,449	-1,087	-1,430	-3,215	-2,524
Purchase of Property, Plant & Equipment	-10	-26	-28	-36	-63	-35	-25	-39	-18	-65	-83
Purchase of Investments	-5,350	-7,825	-5,020	-9,089	-5,175	-2,642	-5,876	-6,424	-3,375	-3,938	-3,567
Sale and/or Maturity of Investments	4,802	3,723	3,213	4,117	2,581	3,539	3,843	5,692	2,443	1,681	2,358
Other Investing Activities, net	-641	-1,568	-1,107	-441	-281	-840	-508	-471	-561	-2,047	-1,272
Net Cash From Financing Activities	2,228	2,549	1,583	3,364	4,945	2,387	470	3,394	2,749	3,421	1,363
Net Cash From Continuing Financing Activities	2,228	2,626	1,583	3,364	4,945	2,387	470	3,394	2,749	3,422	1,362
Repayment of Debt	-2,542	-2,775	-2,994	-2,703	-2,820	-2,865	-1,898	-2,893	-2,660	-1,993	-1,919
Repurchase of Common Equity	-262	-260	-254	-247	-253	-241	-238	-226	-214	-150	-200
Payment of Dividends	-218	-207	-179	-194	-186	-182	-169	-189	-175	-183	-169
Issuance of Debt	529	-	-	-	0.00	-	1.00	-	496	-	-
Other Financing Activities, net	4,721	5,923	5,010	6,508	8,204	5,675	2,774	6,702	5,302	5,748	3,650
Effect of Exchange Rate Changes	13	-28	21	-3.00	-10	25	-18	6.00	10	34	-38

This table presents Equitable's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017
Total Assets	295,866	276,814	252,702	292,262	275,397	249,818	220,797	235,615
Total Current Assets	86,753	8,239	4,281	5,188	6,179	70,748	4,469	4,814
Cash & Equivalents	6,964	8,239	4,281	5,188	6,179	4,405	4,469	4,814
Short-Term Investments	79,789	-	-	-	-	66,343	-	-
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	209,113	268,575	248,421	287,074	266,730	179,070	216,328	230,801
Long-Term Investments	36,658	84,002	76,616	91,078	95,928	26,997	81,333	81,782
Goodwill	5,371	5,433	5,482	4,728	4,737	4,751	4,780	4,824
Noncurrent Deferred & Refundable Income Taxes	1,997	2,050	781	195	0.00	-	-	84
Other Noncurrent Operating Assets	165,087	158,919	149,061	177,040	152,906	147,322	130,215	144,111
Total Liabilities & Shareholders' Equity	295,866	276,814	252,702	292,262	275,397	249,818	220,797	235,615
Total Liabilities	292,298	271,656	249,106	278,699	258,077	234,406	205,178	218,471
Total Current Liabilities	3,340	4,058	5,723	5,073	5,120	4,651	4,533	7,287
Short-Term Debt	0.00	254	759	92	-	-	-	-
Accounts Payable	1,933	2,201	3,323	3,600	3,417	2,523	3,095	2,229
Other Current Liabilities	1,407	1,450	1,533	1,381	1,381	1,404	1,438	5,058
Other Current Nonoperating Liabilities	0.00	153	108	0.00	322	724	0.00	-
Total Noncurrent Liabilities	288,958	267,598	243,383	273,626	252,957	229,755	200,645	211,184
Long-Term Debt	3,833	3,820	3,322	3,839	4,115	4,111	4,955	2,408
Other Noncurrent Operating Liabilities	285,125	263,778	240,061	269,787	248,093	225,116	195,690	208,776
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Redeemable Noncontrolling Interest	125	770	455	468	143	365	187	626
Total Equity & Noncontrolling Interests	3,443	4,388	3,141	13,095	17,177	15,047	15,432	16,518
Total Preferred & Common Equity	1,585	2,649	1,401	11,519	15,576	13,456	13,866	13,421
Total Common Equity	1,585	2,649	1,401	11,519	15,576	13,456	13,866	13,421
Common Stock	2,341	2,333	2,303	1,923	1,990	1,925	1,913	1,304
Retained Earnings	10,647	10,243	9,825	8,880	10,699	11,744	13,989	12,225
Treasury Stock	-4,198	-3,712	-3,297	-2,850	-2,245	-1,832	-640	0.00
Accumulated Other Comprehensive Income / (Loss)	-8,712	-7,777	-8,992	2,004	3,863	844	-1,396	-108
Other Equity Adjustments	1,507	1,562	1,562	1,562	1,269	775	0.00	-
Noncontrolling Interest	1,858	1,739	1,740	1,576	1,601	1,591	1,566	3,097

This table presents Equitable's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	287,366	298,989	287,769	285,577	260,252	269,006	261,500	245,600
Total Current Assets	8,164	89,739	84,983	10,357	72,209	75,491	72,454	4,139
Cash & Equivalents	8,164	9,579	9,684	10,357	6,096	7,693	5,018	4,139
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	279,202	209,250	202,786	275,220	188,043	193,515	189,046	240,172
Long-Term Investments	98,342	34,086	32,427	84,050	31,096	29,924	28,787	76,829
Noncurrent Note & Lease Receivables	20,566	-	-	18,570	-	-	-	15,688
Goodwill	5,356	5,388	5,403	5,419	5,448	5,463	5,478	5,635
Noncurrent Deferred & Refundable Income Taxes	1,687	1,701	2,117	2,063	2,035	1,726	1,294	2,222
Other Noncurrent Operating Assets	153,251	168,075	162,839	165,118	149,464	156,402	153,487	139,798
Total Liabilities & Shareholders' Equity	287,366	298,989	287,769	285,577	260,252	269,006	261,500	245,600
Total Liabilities	282,872	292,791	283,296	280,831	256,335	263,215	255,416	240,413
Total Current Liabilities	3,492	3,216	3,423	3,778	3,961	4,059	4,932	4,709
Short-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	751	-
Accounts Payable	2,135	1,795	2,060	2,162	2,321	2,526	2,595	3,361
Other Current Liabilities	1,357	1,421	1,363	1,377	1,424	1,404	1,428	1,348
Total Noncurrent Liabilities	279,380	289,575	279,873	277,053	252,374	259,156	250,484	235,704
Long-Term Debt	4,330	3,831	3,830	3,821	3,820	3,819	3,819	4,088
Other Noncurrent Operating Liabilities	275,050	285,744	276,043	273,232	248,554	255,337	246,665	231,616
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	289	1,223	1,088	991	636	531	613	354
Total Equity & Noncontrolling Interests	4,205	4,975	3,385	3,755	3,281	5,260	5,471	4,833
Total Preferred & Common Equity	2,401	3,220	1,644	2,032	1,642	3,553	3,754	3,354
Total Common Equity	2,401	3,220	1,644	2,032	1,642	3,553	3,754	3,354
Common Stock	2,310	2,348	2,342	2,327	2,311	2,301	2,302	2,031
Retained Earnings	10,447	9,977	10,317	10,110	11,163	10,325	9,806	10,839
Treasury Stock	-4,296	-4,072	-3,932	-3,801	-3,592	-3,493	-3,400	-3,202
Accumulated Other Comprehensive Income / (Loss)	-7,567	-6,595	-8,645	-8,166	-9,802	-7,142	-6,516	-7,876
Other Equity Adjustments	1,507	1,562	1,562	1,562	1,562	1,562	1,562	1,562
Noncontrolling Interest	1,804	1,755	1,741	1,723	1,639	1,707	1,717	1,479

This table displays calculated financial ratios and metrics derived from Equitable's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	11.82%	-17.28%	101.44%	-42.20%	22.26%	-21.46%	-2.57%	5.44%	0.00%
EBITDA Growth	44.87%	-25.81%	15.23%	120.71%	2,007.07%	-97.58%	117.23%	-37.89%	0.00%
EBIT Growth	54.99%	-33.09%	14.30%	1,141.64%	157.12%	-115.21%	155.77%	-34.73%	0.00%
NOPAT Growth	-49.71%	90.17%	67.88%	1,021.07%	36.06%	-113.34%	138.92%	-22.78%	0.00%
Net Income Growth	10.96%	-31.37%	10.32%	721.78%	76.21%	-167.02%	74.14%	-23.77%	0.00%
EPS Growth	8.62%	-36.26%	37.19%	355.13%	56.30%	-207.21%	123.49%	-33.48%	0.00%
Operating Cash Flow Growth	1,064.42%	16.80%	-29.53%	-216.39%	71.76%	-454.10%	125.10%	-2.97%	0.00%
Free Cash Flow Firm Growth	104.80%	1,665.54%	15.99%	-127.53%	-57.26%	643.27%	-97.68%	0.00%	0.00%
Invested Capital Growth	-40.01%	-13.33%	7.19%	4.91%	-6.89%	-18.81%	2.71%	0.00%	0.00%
Revenue Q/Q Growth	11.38%	4.79%	22.50%	-8.00%	-13.41%	-26.59%	23.16%	0.00%	0.00%
EBITDA Q/Q Growth	43.09%	-29.94%	-38.36%	328.94%	-31.67%	-97.36%	73.71%	0.00%	0.00%
EBIT Q/Q Growth	55.74%	-34.88%	-41.87%	267.69%	-74.18%	-118.90%	122.43%	0.00%	0.00%
NOPAT Q/Q Growth	-38.79%	28.71%	-29.75%	256.91%	-136.02%	-114.90%	134.51%	0.00%	0.00%
Net Income Q/Q Growth	732.42%	-30.68%	-50.52%	240.18%	-267.37%	-201.24%	171.93%	0.00%	0.00%
EPS Q/Q Growth	481.82%	-38.52%	-50.14%	197.31%	-34.48%	-275.86%	382.61%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	65.24%	-184.90%	-66.67%	54.05%	-175.31%	-125.00%	104.29%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	47.08%	-36.96%	-249.86%	18.56%	176.32%	-24.88%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-1.95%	13.11%	-0.18%	-0.22%	-5.39%	0.10%	-0.51%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	59.13%	54.79%	63.82%	23.64%	36.41%	32.26%	59.40%	41.15%	46.97%
EBITDA Margin	45.36%	35.01%	39.04%	68.25%	17.87%	1.04%	33.60%	15.07%	25.59%
Operating Margin	39.58%	34.13%	41.31%	47.69%	-3.56%	-6.80%	31.87%	11.87%	19.18%
EBIT Margin	38.52%	27.79%	34.36%	60.55%	2.82%	-6.03%	31.16%	11.87%	19.18%
Profit (Net Income) Margin	14.50%	14.62%	17.62%	32.17%	-2.99%	-15.37%	18.01%	10.08%	13.94%
Tax Burden Percent	86.36%	222.63%	80.01%	83.17%	31.93%	71.21%	87.91%	96.25%	81.35%
Interest Burden Percent	43.60%	23.62%	64.08%	63.87%	-332.22%	357.64%	65.73%	88.18%	89.33%
Effective Tax Rate	13.64%	-122.63%	19.99%	16.83%	0.00%	0.00%	12.09%	3.75%	18.65%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	41.78%	37.54%	27.90%	14.05%	-2.13%	-9.46%	13.36%	7.33%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	1.69%	1.18%	1.71%	1.44%	0.13%	-0.24%	1.66%	0.63%	0.00%
Return on Assets (ROA)	0.64%	0.62%	0.88%	0.76%	-0.13%	-0.62%	0.96%	0.53%	0.00%
Return on Common Equity (ROCE)	20.27%	17.37%	21.01%	12.33%	-1.89%	-8.32%	11.13%	5.74%	0.00%
Return on Equity Simple (ROE_SIMPLE)	115.02%	62.02%	170.88%	18.84%	-2.24%	-10.90%	15.79%	9.37%	0.00%
Net Operating Profit after Tax (NOPAT)	4,296	8,542	4,492	2,676	-291	-454	3,406	1,425	1,846
NOPAT Margin	34.18%	75.99%	33.06%	39.66%	-2.49%	-4.76%	28.02%	11.43%	15.60%
Net Nonoperating Expense Percent (NNEP)	-2.38%	-8.38%	-2.48%	-0.53%	-0.06%	-1.17%	-1.47%	-0.40%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	59.05%	100.95%	62.20%	-	-	-	-	-	-
Cost of Revenue to Revenue	40.87%	45.21%	36.18%	76.36%	63.59%	67.74%	40.60%	58.85%	53.03%
SG&A Expenses to Revenue	14.49%	16.88%	16.08%	31.23%	14.57%	19.80%	14.89%	16.59%	12.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.55%	20.66%	22.50%	-24.04%	39.96%	39.06%	27.53%	29.28%	27.79%
Earnings before Interest and Taxes (EBIT)	4,842	3,124	4,669	4,085	329	-576	3,788	1,481	2,269
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,702	3,936	5,305	4,604	2,086	99	4,084	1,880	3,027
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.33	4.16	7.18	1.07	0.66	0.79	0.57	0.20	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	1.81	0.95	1.23	0.88	0.32	0.00
Price to Revenue (P/Rev)	1.18	0.98	0.74	1.83	0.88	1.12	0.65	0.22	0.23
Price to Earnings (P/E)	12.05	9.01	4.85	7.35	0.00	0.00	4.29	3.29	2.19
Dividend Yield	1.99%	2.64%	2.87%	2.33%	2.84%	3.26%	1.83%	0.00%	0.00%
Earnings Yield	8.30%	11.10%	20.61%	13.61%	0.00%	0.00%	23.33%	30.38%	45.68%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	1.07	0.79	1.13	0.29	0.24	0.27	0.32	0.14	0.00
Long-Term Debt to Equity	1.07	0.74	0.92	0.28	0.24	0.27	0.32	0.14	0.00
Financial Leverage	-23.79	-18.82	-9.85	-6.23	-5.90	-5.60	-5.04	-4.91	0.00
Leverage Ratio	65.63	60.49	31.76	18.38	16.05	15.17	13.93	13.74	0.00
Compound Leverage Factor	28.61	14.29	20.35	11.74	-53.31	54.24	9.16	12.12	0.00
Debt to Total Capital	51.79%	44.13%	53.16%	22.47%	19.20%	21.06%	24.08%	12.32%	0.00%
Short-Term Debt to Total Capital	0.00%	2.75%	9.89%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	51.79%	41.38%	43.27%	21.94%	19.20%	21.06%	24.08%	12.32%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	26.79%	27.18%	28.59%	11.68%	8.14%	10.02%	8.52%	19.04%	0.00%
Common Equity to Total Capital	21.42%	28.69%	18.25%	65.85%	72.67%	68.92%	67.40%	68.64%	0.00%
Debt to EBITDA	0.67	1.04	0.77	0.85	1.97	41.53	1.21	1.28	0.00
Net Debt to EBITDA	-20.97	-22.40	-14.48	-20.06	-46.98	-945.80	-19.80	-44.78	0.00
Long-Term Debt to EBITDA	0.67	0.97	0.63	0.83	1.97	41.53	1.21	1.28	0.00
Debt to NOPAT	0.89	0.48	0.91	1.47	-14.17	-9.05	1.45	1.69	0.00
Net Debt to NOPAT	-27.83	-10.32	-17.10	-34.51	337.32	206.11	-23.74	-59.06	0.00
Long-Term Debt to NOPAT	0.89	0.45	0.74	1.43	-14.17	-9.05	1.45	1.69	0.00
Altman Z-Score	0.52	0.17	0.19	0.14	0.13	0.44	0.22	0.14	0.00
Noncontrolling Interest Sharing Ratio	51.48%	53.74%	24.70%	12.27%	11.30%	11.95%	16.71%	21.72%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	25.97	2.03	0.75	1.02	1.21	15.21	0.99	0.66	0.00
Quick Ratio	25.97	2.03	0.75	1.02	1.21	15.21	0.99	0.66	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	37,450	18,286	-1,168	-1,390	5,050	11,816	1,590	68,469	0.00
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-238.24%	0.00%
Free Cash Flow to Firm to Interest Expense	13.71	7.66	-0.70	-0.94	3.55	7.96	1.22	427.93	0.00
Operating Cash Flow to Interest Expense	0.73	-0.09	-0.15	-0.13	-0.04	-0.15	0.05	-1.52	-1.36
Operating Cash Flow Less CapEx to Interest Expense	1.11	0.05	0.44	0.94	0.32	0.43	0.54	-2.16	2.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.05	0.02	0.04	0.04	0.05	0.05	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	2.49	1.84	1.42	1.47	2.50	2.30	1.85	3.29	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	146.87	198.37	256.96	248.61	146.06	158.57	196.89	110.83	0.00
Cash Conversion Cycle (CCC)	-146.87	-198.37	-256.96	-248.61	-146.06	-158.57	-196.89	-110.83	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	-116,010	-82,856	-73,112	-78,772	-82,838	-77,498	-65,228	-67,044	0.00
Invested Capital Turnover	-0.13	-0.14	-0.18	-0.08	-0.15	-0.13	-0.18	-0.37	0.00
Increase / (Decrease) in Invested Capital	-33,154	-9,744	5,660	4,066	-5,340	-12,270	1,816	-67,044	0.00
Enterprise Value (EV)	-102,815	-74,649	-64,561	-77,980	-85,923	-81,013	-71,144	-77,720	0.00
Market Capitalization	14,780	11,009	10,060	12,311	10,325	10,665	7,950	2,745	2,745
Book Value per Share	$5.06	$7.83	$3.79	$28.46	$35.03	$27.50	$24.83	$23.92	$0.00
Tangible Book Value per Share	($12.08)	($8.22)	($11.03)	$16.78	$24.37	$17.79	$16.27	$15.32	$0.00
Total Capital	7,401	9,232	7,677	17,494	21,435	19,523	20,574	19,552	0.00
Total Debt	3,833	4,074	4,081	3,931	4,115	4,111	4,955	2,408	0.00
Total Long-Term Debt	3,833	3,820	3,322	3,839	4,115	4,111	4,955	2,408	0.00
Net Debt	-119,578	-88,167	-76,816	-92,335	-97,992	-93,634	-80,847	-84,188	0.00
Capital Expenditures (CapEx)	-1,017	-329	-987	-1,576	-523	-859	-645	102	-642
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,340	-3,804	-4,964	-4,981	-5,120	-4,651	-4,533	-7,287	0.00
Debt-free Net Working Capital (DFNWC)	83,413	4,435	-683	207	1,059	66,097	-64	-2,473	0.00
Net Working Capital (NWC)	83,413	4,181	-1,442	115	1,059	66,097	-64	-2,473	0.00
Net Nonoperating Expense (NNE)	2,473	6,899	2,098	506	59	1,013	1,217	168	197
Net Nonoperating Obligations (NNO)	-119,578	-88,014	-76,708	-92,335	-100,158	-92,910	-80,847	-84,188	0.00
Total Depreciation and Amortization (D&A)	860	812	636	519	1,757	675	296	399	758
Debt-free, Cash-free Net Working Capital to Revenue	-26.57%	-33.84%	-36.53%	-73.84%	-43.87%	-48.72%	-37.29%	-58.41%	0.00%
Debt-free Net Working Capital to Revenue	663.59%	39.45%	-5.03%	3.07%	9.07%	692.41%	-0.53%	-19.82%	0.00%
Net Working Capital to Revenue	663.59%	37.19%	-10.61%	1.70%	9.07%	692.41%	-0.53%	-19.82%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.82	$3.49	$4.52	($1.24)	($1.56)	($3.51)	$3.27	$1.49	$2.24
Adjusted Weighted Average Basic Shares Outstanding	321.20M	350.10M	377.60M	417.40M	450.40M	493.60M	556.40M	561M	561M
Adjusted Diluted Earnings per Share	$3.78	$3.48	$4.49	($1.24)	($1.56)	($3.51)	$3.27	$1.48	$2.24
Adjusted Weighted Average Diluted Shares Outstanding	324.80M	351.60M	379.90M	417.40M	450.40M	493.60M	556.50M	561M	561M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	307.82M	329.71M	361.81M	389.56M	435.54M	463.71M	521.19M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	4,296	2,686	4,492	2,676	-291	-454	3,406	1,425	1,846
Normalized NOPAT Margin	34.18%	23.89%	33.06%	39.66%	-2.49%	-4.76%	28.02%	11.43%	15.60%
Pre Tax Income Margin	16.79%	6.57%	22.02%	38.67%	-9.37%	-21.58%	20.49%	10.47%	17.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.77	1.31	2.78	2.77	0.23	-0.39	2.92	9.26	13.04
NOPAT to Interest Expense	1.57	3.58	2.68	1.81	-0.20	-0.31	2.62	8.91	10.61
EBIT Less CapEx to Interest Expense	2.15	1.45	3.37	3.84	0.60	0.19	3.42	8.62	16.73
NOPAT Less CapEx to Interest Expense	1.95	3.72	3.27	2.88	0.16	0.27	3.12	8.27	14.30
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.02%	43.52%	32.37%	35.35%	-187.39%	-36.88%	22.98%	27.69%	17.83%
Augmented Payout Ratio	97.64%	99.45%	67.84%	110.78%	-310.60%	-128.90%	52.58%	27.69%	17.83%

This table displays calculated financial ratios and metrics derived from Equitable's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	102.29%	53.84%	-22.63%	47.67%	-7.16%	27.47%	21.39%	-51.71%	-29.61%	399.36%	-3.71%
EBITDA Growth	1.54%	670.29%	-58.13%	22.86%	279.18%	-76.81%	56.76%	-25.67%	-68.99%	-66.95%	7.44%
EBIT Growth	5.23%	4,665.00%	-64.17%	23.11%	1,162.32%	-95.77%	67.58%	-33.52%	-91.41%	-72.35%	-1.70%
NOPAT Growth	-1.03%	5,672.14%	-71.02%	-33.75%	632.12%	-96.79%	55.31%	13.31%	-88.11%	-67.90%	35.59%
Net Income Growth	-23.08%	272.33%	-97.71%	-32.01%	-18.42%	-526.81%	75.15%	-17.80%	-55.44%	-94.66%	-15.29%
EPS Growth	-30.43%	232.68%	-115.56%	-40.29%	-33.33%	-1,676.92%	96.10%	-16.60%	-65.91%	-97.69%	-3.14%
Operating Cash Flow Growth	409.68%	202.04%	66.59%	147.09%	105.28%	-742.62%	79.04%	430.88%	3.45%	-62.11%	-4.98%
Free Cash Flow Firm Growth	-159.42%	255.81%	-21.86%	-37.96%	-10,557.48%	304.15%	658.83%	13,345.65%	99.08%	-255.97%	-568.96%
Invested Capital Growth	12.33%	-40.01%	-19.34%	-14.04%	5.34%	-13.33%	-30.65%	-29.45%	0.16%	7.19%	7.14%
Revenue Q/Q Growth	25.10%	17.52%	-11.05%	54.69%	-4.86%	-40.89%	69.75%	-2.74%	30.63%	-43.71%	-32.47%
EBITDA Q/Q Growth	-47.41%	117.83%	-36.50%	38.34%	302.54%	-88.16%	86.33%	326.96%	-75.38%	-19.97%	-11.65%
EBIT Q/Q Growth	-52.52%	149.15%	-43.25%	54.76%	2,077.50%	-98.13%	94.98%	1,486.96%	-92.70%	-25.82%	-22.65%
NOPAT Q/Q Growth	-50.98%	184.69%	-49.24%	39.89%	2,755.26%	-98.57%	16.05%	1,445.98%	-87.50%	-30.76%	-15.34%
Net Income Q/Q Growth	-85.22%	3,803.85%	-95.40%	160.37%	136.84%	-151.89%	36.58%	212.41%	92.75%	-78.70%	-35.91%
EPS Q/Q Growth	-94.12%	678.72%	-138.21%	310.00%	114.63%	-167.88%	46.60%	357.78%	246.15%	-91.56%	-37.65%
Operating Cash Flow Q/Q Growth	-60.50%	-41.43%	-23.43%	2,777.42%	107.91%	-195.61%	13.57%	161.50%	-1,062.30%	-73.36%	236.76%
Free Cash Flow Firm Q/Q Growth	-137.25%	82.89%	30.67%	461.16%	-114.42%	-59.83%	3.73%	62,145.53%	99.21%	-9.95%	-2,358.76%
Invested Capital Q/Q Growth	15.80%	-1.95%	-4.30%	-27.46%	15.27%	13.11%	0.34%	-5.80%	-23.69%	-0.18%	1.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.37%	71.65%	60.47%	55.38%	42.84%	23.61%	68.13%	72.19%	46.28%	51.79%	63.99%
EBITDA Margin	24.36%	57.94%	31.26%	43.79%	48.96%	11.57%	57.77%	52.63%	11.99%	63.60%	44.74%
Operating Margin	20.02%	51.95%	25.98%	38.40%	40.11%	1.68%	63.10%	46.07%	6.38%	53.45%	48.32%
EBIT Margin	19.72%	51.95%	24.50%	38.40%	38.39%	1.68%	52.91%	46.07%	2.82%	50.51%	38.33%
Profit (Net Income) Margin	3.27%	27.66%	0.83%	16.10%	9.56%	-24.70%	28.13%	34.96%	10.88%	7.38%	19.49%
Tax Burden Percent	86.21%	84.80%	-185.71%	82.97%	87.85%	72.09%	76.95%	154.17%	-57.95%	87.34%	78.55%
Interest Burden Percent	19.23%	62.80%	-1.83%	50.52%	28.36%	-2,042.50%	69.09%	49.22%	-665.22%	16.72%	64.76%
Effective Tax Rate	13.79%	15.20%	0.00%	17.03%	12.15%	0.00%	23.05%	-54.17%	0.00%	12.66%	21.45%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	38.65%	41.78%	4.33%	25.88%	29.44%	37.54%	52.07%	28.66%	25.86%	27.90%	52.30%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	1.03%	2.28%	0.99%	1.68%	1.55%	0.07%	2.24%	1.77%	0.13%	2.52%	1.60%
Return on Assets (ROA)	0.17%	1.21%	0.03%	0.71%	0.39%	-1.05%	1.19%	1.34%	0.51%	0.37%	0.82%
Return on Common Equity (ROCE)	18.09%	20.27%	2.08%	13.10%	15.73%	17.37%	28.57%	19.95%	18.98%	21.01%	42.49%
Return on Equity Simple (ROE_SIMPLE)	74.05%	0.00%	6.80%	80.78%	78.44%	0.00%	144.34%	53.00%	54.95%	0.00%	144.25%
Net Operating Profit after Tax (NOPAT)	792	1,616	568	1,118	799	28	1,959	1,688	109	873	1,261
NOPAT Margin	17.26%	44.05%	18.18%	31.86%	35.23%	1.17%	48.55%	71.02%	4.47%	46.68%	37.95%
Net Nonoperating Expense Percent (NNEP)	-0.59%	-0.58%	-0.49%	-0.51%	-0.62%	-0.75%	-0.93%	-0.94%	0.16%	-0.87%	-0.72%
Return On Investment Capital (ROIC_SIMPLE)	9.28%	22.21%	-	-	-	0.33%	-	-	-	12.09%	-
Cost of Revenue to Revenue	29.63%	28.35%	39.53%	44.62%	57.16%	76.39%	31.87%	27.81%	53.72%	48.21%	36.01%
SG&A Expenses to Revenue	20.70%	13.98%	10.54%	12.17%	24.37%	23.44%	11.15%	19.60%	17.31%	30.57%	14.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.35%	19.71%	34.50%	16.98%	2.73%	21.93%	5.03%	26.13%	39.89%	-1.66%	15.67%
Earnings before Interest and Taxes (EBIT)	905	1,906	765	1,348	871	40	2,135	1,095	69	945	1,274
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,118	2,126	976	1,537	1,111	276	2,331	1,251	293	1,190	1,487
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.68	9.33	4.17	8.03	6.25	4.16	5.85	2.63	2.34	7.18	2.79
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.08	1.18	1.19	1.08	1.15	0.98	0.90	0.93	0.70	0.74	0.84
Price to Earnings (P/E)	13.38	12.05	0.00	15.95	10.97	9.01	4.85	6.18	5.12	4.85	2.15
Dividend Yield	1.84%	1.99%	2.19%	2.22%	2.34%	2.64%	3.04%	3.12%	3.29%	2.87%	3.05%
Earnings Yield	7.47%	8.30%	0.00%	6.27%	9.12%	11.10%	20.63%	16.17%	19.54%	20.61%	46.59%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.96	1.07	0.62	0.86	0.81	0.79	0.98	0.66	0.75	1.13	0.79
Long-Term Debt to Equity	0.96	1.07	0.62	0.86	0.81	0.74	0.98	0.66	0.63	0.92	0.79
Financial Leverage	-23.73	-23.79	-21.68	-20.95	-17.25	-18.82	-19.49	-13.91	-12.35	-9.85	-9.19
Leverage Ratio	62.26	65.63	55.29	54.25	50.52	60.49	55.56	39.77	33.80	31.76	28.66
Compound Leverage Factor	11.97	41.22	-1.01	27.40	14.33	-1,235.48	38.39	19.58	-224.82	5.31	18.56
Debt to Total Capital	49.07%	51.79%	38.20%	46.13%	44.60%	44.13%	49.37%	39.74%	42.89%	53.16%	44.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	2.75%	0.00%	0.00%	7.05%	9.89%	0.00%
Long-Term Debt to Total Capital	49.07%	51.79%	38.20%	46.13%	44.60%	41.38%	49.37%	39.74%	35.85%	43.27%	44.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	23.72%	26.79%	29.69%	34.07%	31.68%	27.18%	29.40%	23.29%	21.87%	28.59%	19.76%
Common Equity to Total Capital	27.21%	21.42%	32.11%	19.80%	23.72%	28.69%	21.22%	36.97%	35.24%	18.25%	36.16%
Debt to EBITDA	0.76	0.67	0.96	0.67	0.80	1.04	0.68	0.81	0.98	0.77	0.48
Net Debt to EBITDA	-17.87	-20.97	-30.11	-19.91	-19.05	-22.40	-17.71	-21.64	-20.78	-14.48	-8.93
Long-Term Debt to EBITDA	0.76	0.67	0.96	0.67	0.80	0.97	0.68	0.81	0.82	0.63	0.48
Debt to NOPAT	1.01	0.89	0.55	0.94	0.75	0.48	0.58	0.56	0.86	0.91	0.64
Net Debt to NOPAT	-23.77	-27.83	-17.09	-28.00	-17.87	-10.32	-14.99	-14.87	-18.16	-17.10	-12.02
Long-Term Debt to NOPAT	1.01	0.89	0.55	0.94	0.75	0.45	0.58	0.56	0.72	0.74	0.64
Altman Z-Score	0.17	0.48	0.47	0.48	0.15	0.14	0.47	0.44	0.43	0.14	0.14
Noncontrolling Interest Sharing Ratio	53.21%	51.48%	51.93%	49.37%	46.57%	53.74%	45.12%	30.42%	26.61%	24.70%	18.74%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.34	25.97	27.90	24.83	2.74	2.03	18.23	18.60	14.69	0.75	0.88
Quick Ratio	2.34	25.97	27.90	24.83	2.74	2.03	18.23	18.60	14.69	0.75	0.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12,951	34,770	19,012	14,549	-4,029	9,772	24,329	23,453	-38	-4,787	-4,354
Operating Cash Flow to CapEx	1,580.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	93.85%	275.90%
Free Cash Flow to Firm to Interest Expense	-17.72	52.60	24.41	21.81	-6.46	15.22	36.86	42.18	-0.07	-6.08	-9.70
Operating Cash Flow to Interest Expense	0.22	0.61	0.88	1.34	0.05	-0.61	0.62	0.65	-1.11	0.08	0.51
Operating Cash Flow Less CapEx to Interest Expense	0.20	0.81	1.55	1.59	0.36	-0.52	0.76	0.86	-0.99	-0.01	0.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.04
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	2.49	2.88	2.60	2.13	1.84	1.47	1.28	1.44	1.42	1.28
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	146.87	126.91	140.17	171.37	198.37	249.15	284.39	253.58	256.96	284.40
Cash Conversion Cycle (CCC)	0.00	-146.87	-126.91	-140.17	-171.37	-198.37	-249.15	-284.39	-253.58	-256.96	-284.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-97,682	-116,010	-113,796	-109,107	-85,601	-82,856	-95,352	-95,676	-90,429	-73,112	-72,982
Invested Capital Turnover	-0.14	-0.13	-0.11	-0.12	-0.13	-0.14	-0.13	-0.12	-0.14	-0.18	-0.15
Increase / (Decrease) in Invested Capital	13,743	-33,154	-18,444	-13,431	4,828	-9,744	-22,370	-21,765	147	5,660	5,615
Enterprise Value (EV)	-84,049	-102,815	-103,577	-97,548	-75,163	-74,649	-87,604	-90,010	-85,540	-64,561	-65,685
Market Capitalization	16,034	14,780	13,439	13,203	12,709	11,009	9,606	9,348	8,801	10,060	9,362
Book Value per Share	$7.80	$5.06	$10.07	$5.05	$6.15	$7.83	$4.73	$9.98	$10.38	$3.79	$8.93
Tangible Book Value per Share	($9.60)	($12.08)	($6.78)	($11.56)	($10.26)	($8.22)	($10.96)	($5.36)	($4.76)	($11.03)	($6.07)
Total Capital	8,824	7,401	10,029	8,303	8,567	9,232	7,737	9,610	10,654	7,677	9,275
Total Debt	4,330	3,833	3,831	3,830	3,821	4,074	3,820	3,819	4,570	4,081	4,088
Total Long-Term Debt	4,330	3,833	3,831	3,830	3,821	3,820	3,820	3,819	3,819	3,322	4,088
Net Debt	-102,176	-119,578	-119,994	-113,580	-90,586	-88,167	-99,485	-101,596	-96,671	-76,816	-76,880
Capital Expenditures (CapEx)	10	-134	-522	-168	-193	-58	-92	-116	-63	65	83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,492	-3,340	-3,216	-3,423	-3,778	-3,804	-3,961	-4,059	-4,181	-4,964	-4,709
Debt-free Net Working Capital (DFNWC)	4,672	83,413	86,523	81,560	6,579	4,435	68,248	71,432	68,273	-683	-570
Net Working Capital (NWC)	4,672	83,413	86,523	81,560	6,579	4,181	68,248	71,432	67,522	-1,442	-570
Net Nonoperating Expense (NNE)	642	601	542	553	582	617	824	857	-157	735	613
Net Nonoperating Obligations (NNO)	-102,176	-119,578	-119,994	-113,580	-90,347	-88,014	-99,269	-101,467	-96,513	-76,708	-78,169
Total Depreciation and Amortization (D&A)	213	220	211	189	240	236	196	156	224	245	213
Debt-free, Cash-free Net Working Capital to Revenue	-23.45%	-26.57%	-28.50%	-28.06%	-34.14%	-33.84%	-36.93%	-40.53%	-33.29%	-36.53%	-42.45%
Debt-free Net Working Capital to Revenue	31.37%	663.59%	766.64%	668.58%	59.45%	39.45%	636.23%	713.18%	543.53%	-5.03%	-5.14%
Net Working Capital to Revenue	31.37%	663.59%	766.64%	668.58%	59.45%	37.19%	636.23%	713.18%	537.55%	-10.61%	-5.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.16	$2.75	($0.47)	$1.24	$0.30	($2.05)	$3.03	$2.06	$0.45	$0.13	$0.69
Adjusted Weighted Average Basic Shares Outstanding	307.80M	321.20M	318.20M	324.20M	330.20M	350.10M	346.40M	355.20M	361.90M	377.60M	374.50M
Adjusted Diluted Earnings per Share	$0.16	$2.72	($0.47)	$1.23	$0.30	($2.05)	$3.02	$2.06	$0.45	$0.13	$0.69
Adjusted Weighted Average Diluted Shares Outstanding	311.90M	324.80M	318.20M	327.30M	332.70M	351.60M	348M	356.10M	364.10M	379.90M	376.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	303.90M	307.82M	313.34M	319.76M	325.24M	329.71M	338.49M	347.35M	356.08M	361.81M	370.04M
Normalized Net Operating Profit after Tax (NOPAT)	792	1,616	568	1,118	799	28	1,959	767	109	873	1,261
Normalized NOPAT Margin	17.26%	44.05%	18.18%	31.86%	35.23%	1.17%	48.55%	32.25%	4.47%	46.68%	37.95%
Pre Tax Income Margin	3.79%	32.62%	-0.45%	19.40%	10.89%	-34.26%	36.56%	22.68%	-18.78%	8.44%	24.82%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.24	2.88	0.98	2.02	1.40	0.06	3.23	1.97	0.13	1.20	2.84
NOPAT to Interest Expense	1.08	2.45	0.73	1.68	1.28	0.04	2.97	3.04	0.21	1.11	2.81
EBIT Less CapEx to Interest Expense	1.22	3.09	1.65	2.27	1.71	0.15	3.37	2.18	0.25	1.12	2.65
NOPAT Less CapEx to Interest Expense	1.07	2.65	1.40	1.93	1.59	0.13	3.11	3.25	0.33	1.03	2.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.88%	42.02%	338.36%	55.05%	45.55%	43.52%	30.21%	38.02%	35.24%	32.37%	16.25%
Augmented Payout Ratio	102.42%	97.64%	792.69%	128.77%	105.65%	99.45%	65.15%	79.98%	73.24%	67.84%	40.37%

Frequently Asked Questions About Equitable's Financials

When does Equitable's fiscal year end?

According to the most recent income statement we have on file, Equitable's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Equitable's net income changed over the last 8 years?

Equitable's net income appears to be on an upward trend, with a most recent value of $1.82 billion in 2024, rising from $1.65 billion in 2016. The previous period was $1.64 billion in 2023. See Equitable's forecast for analyst expectations on what’s next for the company.

What is Equitable's operating income?

Equitable's total operating income in 2024 was $4.98 billion, based on the following breakdown:

Total Gross Profit: $7.43 billion
Total Operating Expenses: $2.46 billion

How has Equitable revenue changed over the last 8 years?

Over the last 8 years, Equitable's total revenue changed from $11.83 billion in 2016 to $12.57 billion in 2024, a change of 6.2%.

How much debt does Equitable have?

Equitable's total liabilities were at $292.30 billion at the end of 2024, a 7.6% increase from 2023, and a 33.8% increase since 2017.

How much cash does Equitable have?

In the past 7 years, Equitable's cash and equivalents has ranged from $4.28 billion in 2022 to $8.24 billion in 2023, and is currently $6.96 billion as of their latest financial filing in 2024.

How has Equitable's book value per share changed over the last 8 years?

Over the last 8 years, Equitable's book value per share changed from 0.00 in 2016 to 5.06 in 2024, a change of 505.8%.

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This page (NYSE:EQH) was last updated on 5/27/2025 by MarketBeat.com Staff

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Equitable (EQH) Financials

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Equitable (EQH) Financials

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