Brighthouse (BHF) | Financial Analysis & Statements
Brighthouse Financial Inc. Mid-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.6B
Net Income
138.0M
8.77%
EPS (Diluted)
$1.93
Balance Sheet Metrics
Total Assets
241.8B
Total Liabilities
235.0B
Shareholders Equity
6.8B
Debt to Equity
34.39
Cash Flow Metrics
Free Cash Flow
-3.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Brighthouse Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 6.4B | 4.4B | 4.0B | 6.6B | 3.6B |
| Cost of Goods Sold | - | - | - | - | - |
| Gross Profit | - | - | - | - | - |
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 750.0M | 693.0M | 730.0M | 647.0M | 665.0M |
| Other Operating Expenses | 725.0M | 736.0M | 728.0M | 878.0M | 1.0B |
| Total Operating Expenses | 1.5B | 1.4B | 1.5B | 1.5B | 1.7B |
| Operating Income | - | - | - | - | - |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | 152.0M | 152.0M | 153.0M | 153.0M | 163.0M |
| Other Non-Operating Income | 555.0M | 579.0M | 483.0M | 478.0M | 450.0M |
| Pre-tax Income | 474.0M | 422.0M | -1.5B | 4.7B | 2.0B |
| Income Tax | 36.0M | 29.0M | -367.0M | 848.0M | 361.0M |
| Effective Tax Rate % | 7.6% | 6.9% | 0.0% | 17.9% | 18.0% |
| Net Income | 438.0M | 393.0M | -1.1B | 3.9B | 1.6B |
| Net Margin % | 6.9% | 9.0% | -28.0% | 58.6% | 46.0% |
| Key Metrics | |||||
| EBITDA | - | - | - | - | - |
| EPS (Basic) | $5.75 | $4.88 | $-18.65 | $55.29 | $-2.53 |
| EPS (Diluted) | $5.71 | $4.88 | $-18.77 | $51.30 | $-2.53 |
| Basic Shares Outstanding | 57526188 | 58629049 | 63503355 | 68278068 | 77870072 |
| Diluted Shares Outstanding | 57526188 | 58629049 | 63503355 | 68278068 | 77870072 |
Income Statement Trend
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Brighthouse Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 5.4B | 5.0B | 3.9B | 4.1B | 4.5B |
| Short-term Investments | 83.2B | 81.9B | 82.2B | 76.7B | 89.4B |
| Accounts Receivable | 21.6B | 21.1B | 19.8B | 18.5B | 16.1B |
| Inventory | - | - | - | - | - |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | - | - | - | - | - |
| Non-Current Assets | |||||
| Property, Plant & Equipment | - | - | - | - | - |
| Goodwill | - | - | 416.0M | 459.0M | 530.0M |
| Intangible Assets | - | - | 416.0M | 459.0M | 530.0M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - |
| Total Non-Current Assets | - | - | - | - | - |
| Total Assets | 241.8B | 238.5B | - | - | - |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | - | - | - | - | - |
| Short-term Debt | - | - | - | - | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | - | - | - | - | - |
| Non-Current Liabilities | |||||
| Long-term Debt | 3.2B | 3.2B | 3.2B | 3.2B | 3.2B |
| Deferred Tax Liabilities | - | - | - | - | 1.1B |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 235.0B | 233.5B | - | - | - |
| Equity | |||||
| Common Stock | 1.0M | 1.0M | 1.0M | 1.0M | 1.0M |
| Retained Earnings | -686.0M | -1.1B | -1.5B | -395.0M | -642.0M |
| Treasury Stock | 2.7B | 2.6B | 2.3B | 2.0B | 1.5B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 6.8B | 5.0B | 5.0B | 5.6B | 16.2B |
| Key Metrics | |||||
| Total Debt | 3.2B | 3.2B | 3.2B | 3.2B | 3.2B |
| Working Capital | 0 | 0 | 0 | 0 | 0 |
Balance Sheet Composition
Brighthouse Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 438.0M | 393.0M | -1.1B | 3.9B | 1.6B |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | - | - | - | - | - |
| Working Capital Changes | 1.4B | -1.9B | -1.3B | -2.5B | -1.1B |
| Operating Cash Flow | -269.0M | -3.6B | -4.7B | -992.0M | -2.3B |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | 292.0M | 38.0M | -248.0M | -562.0M | -566.0M |
| Investment Purchases | -30.8B | -24.9B | -14.5B | -20.5B | -25.8B |
| Investment Sales | 30.3B | 24.2B | 11.1B | 16.0B | 18.1B |
| Investing Cash Flow | -204.0M | -648.0M | -3.6B | -5.0B | -8.3B |
| Financing Activities | |||||
| Share Repurchases | -102.0M | -250.0M | -250.0M | -488.0M | -499.0M |
| Dividends Paid | -102.0M | -102.0M | -102.0M | -104.0M | -89.0M |
| Debt Issuance | - | - | 0 | 0 | 400.0M |
| Debt Repayment | -2.0M | -2.0M | -2.0M | -3.0M | -680.0M |
| Financing Cash Flow | -1.5B | 3.5B | 4.0B | 10.9B | 10.9B |
| Free Cash Flow | 259.0M | -290.0M | -137.0M | -1.2B | 641.0M |
| Net Change in Cash | -2.0B | -796.0M | -4.3B | 4.8B | 408.0M |
Cash Flow Trend
Brighthouse Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
10.84
Forward P/E
3.19
Price to Book
0.52
Price to Sales
0.51
PEG Ratio
-0.13
Profitability Ratios
Profit Margin
6.23%
Operating Margin
21.29%
Return on Equity
7.39%
Return on Assets
0.21%
Financial Health
Current Ratio
0.68
Debt to Equity
145.50
Beta
0.92
Per Share Data
EPS (TTM)
$5.71
Book Value per Share
$118.38
Revenue per Share
$120.78
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| BHF | 3.6B | 10.84 | 0.52 | 7.39% | 6.23% | 145.50 |
| Manulife Financial | 64.6B | 17.18 | 1.86 | 11.49% | 18.67% | 48.35 |
| Aflac | 59.1B | 16.88 | 2.02 | 13.12% | 21.24% | 42.68 |
| Primerica | 8.9B | 12.26 | 3.65 | 31.93% | 22.43% | 77.92 |
| Jackson Financial | 8.0B | 15.31 | 0.80 | 0.71% | 0.40% | 55.12 |
| Lincoln National | 7.0B | 6.25 | 0.70 | 12.28% | 6.44% | 64.67 |
Financial data is updated regularly. All figures are in the company's reporting currency.






