Zacks Investment Research·Jun 25, 2026
BHF Outperforms the Industry: Operational Momentum ContinuesBrighthouse Financial builds on annuity and life insurance momentum, supported by product innovation, investment income and capital strength.
Brighthouse Financial, Inc.(BHF)Earnings, Financials & Key Ratios
BHF•NASDAQ•Insurance & Managed Care
$65.27
11.3× P/E·Price updated Jul 7, 2026
AboutBrighthouse Financial, Inc. provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security. The Life segment provides term, universal, whole, and variable life policies for policyholders' needs for financial security and protected wealth transfer. The Run-off segment manages structured settlements, pension risk transfer contracts, certain company-owned life insurance policies, funding agreements, and universal life with secondary guarantees. The company was incorporated in 2016 and is based in Charlotte, North Carolina.Show more
- Revenue$6.21B+42.2%
- Combined Ratio92.37%+2.2%
- Net Income$433M+11.6%
- Return on Equity7.3%-5.6%
- Medical Cost Ratio29.06%-46.1%
- Operating Margin7.63%-21.0%
- Net Margin6.97%-21.5%
- ROA0.18%+10.7%
- Equity / Assets2.84%+35.2%
BHF Price & Volume
Brighthouse Financial, Inc. (BHF) stock price & volume — 10-year historical chart
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Derivative Volatility Masks Underlying Capital Structural Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:Derivative-driven earnings volatility
Key Thesis Takeaways
- Brighthouse Financial faces significant earnings instability driven by complex derivative hedging and LDTI accounting shifts, which frequently disconnect reported net income from core operational performance.
- While the company maintains a low P/B ratio of 0.53, the persistent volatility in underwriting margins—ranging from a 9.3% combined ratio in 2024Q1 to 186.2% in 2023Q4—suggests that equity holders remain exposed to substantial actuarial and market-linked risks.
- Investors should monitor the sustainability of capital returns, as the $161 million buyback in 2025Q4 appears disconnected from the erratic cash flow generation observed across recent quarters.
Verdict Logic
the company's reliance on complex derivatives and the extreme fluctuation in quarterly EPS, which swung from a negative $13.72 in 2026Q1 to a positive $10.79 in 2024Q4, indicate an unpredictable risk profile that outweighs the current 0.53 P/B valuation.
BHF Growth Metrics
Brighthouse Financial, Inc. (BHF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-3.52%
5 Years-5.56%
3 Years-2.15%
TTM-18.49%
Profit CAGR
10 Years-9.06%
5 Years-
3 Years-51.85%
TTM-110.6%
EPS CAGR
10 Years-4.44%
5 Years-
3 Years-51.67%
TTM-134.33%
Return on Capital
10 Years0.05%
5 Years0.69%
3 Years-0.09%
Last Year0.2%
BHF Recent Earnings
Brighthouse Financial, Inc. (BHF) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$4.35-4.8%
$4.57
Rev
$2.1B-4.9%
$2.2B
Q2 2026
May 6, 2026Metric
Actual
Est
EPS
$4.35-8.4%
$4.75
Rev
$2.1B-4.9%
$2.2B
Q1 2026
Feb 23, 2026Metric
Actual
Est
EPS
$3.93-24.3%
$5.19
Rev
$2.2B-3.4%
$2.2B
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$4.54-10.8%
$5.09
Rev
$1.7B-23.9%
$2.2B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $4.35vs $4.57-4.8% | $2.1Bvs $2.2B-4.9% |
| Q2 2026 | May 6, 2026 | $4.35vs $4.75-8.4% | $2.1Bvs $2.2B-4.9% |
| Q1 2026 | Feb 23, 2026 | $3.93vs $5.19-24.3% | $2.2Bvs $2.2B-3.4% |
| Q4 2025 | Nov 6, 2025 | $4.54vs $5.09-10.8% | $1.7Bvs $2.2B-23.9% |
Based on last 12 quarters of dataView full earnings history →
Latest BHF News
Recent stock market news and headlines for Brighthouse Financial, Inc. (BHF)
247 Wallst·Jun 22, 2026
A New Bill Would Ban Lawmakers From Betting on Politics and Elections in Prediction MarketsCNBC's Emily Wilkins reported last week that House lawmakers have introduced legislation that would prohibit members of Congress, their spouses, and dependent children from placing wagers in prediction markets on political, policy, or election outcomes. "House lawmakers are just dropping a brand new bill that would ban lawmakers from making any bets in prediction markets... A New Bill Would Ban Lawmakers From Betting on Politics and Elections in Prediction Markets
Peers Comparison
Key metrics vs top competitors for Brighthouse Financial, Inc. (BHF)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $65.27 | $3.75B | 11.27 | 42.16% | 6.97% | 7.3% | 2.73% | |
| $39.19 | $7.49B | 6.71 | 1.24% | 9.14% | 16.79% | — | |
| $112.88 | $24.38B | 21.50 | -3.11% | 10.03% | 12.72% | — | |
| $46.98 | $13.23B | -9.73 | -6.21% | -7.26% | -36.74% | — | |
| $115.47 | $40.16B | 11.30 | -14.01% | 5.62% | 10.26% | — | |
| $91.67 | $59.77B | 19.10 | 10.22% | 4.7% | 12.72% | — |
Compare BHF vs Peers
Brighthouse Financial, Inc. (BHF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BHF SEC Filings & Documents
Brighthouse Financial, Inc. (BHF) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 6, 2026·SEC
Material company update
Feb 23, 2026·SEC
Material company update
Feb 12, 2026·SEC
10-K Annual Reports
410-Q Quarterly Reports
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BHF Frequently Asked Questions
Brighthouse Financial, Inc. (BHF) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Brighthouse Financial, Inc. growing?
Brighthouse Financial, Inc. (BHF) grew revenue by 42.2% over the past year. This is strong growth.
Is BHF profitable?
Brighthouse Financial, Inc. (BHF) reported a net loss of $65.0M for fiscal year 2025.
Dividend & Returns
Does BHF pay dividends?
Yes, Brighthouse Financial, Inc. (BHF) pays a dividend with a yield of 2.73%. This makes it attractive for income-focused investors.
What is BHF's return on equity?
Brighthouse Financial, Inc. (BHF) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.
Industry Metrics
What is Brighthouse Financial, Inc.'s combined ratio?
Brighthouse Financial, Inc. (BHF) has a combined ratio of 92.4%. A ratio below 100% indicates underwriting profitability.