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Equitable Holdings EQH Purchased MRB — Changes in the instrument-specific credit risk

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Other financials

Income statement

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Revenue$1.7B-29.8%
Net income-$453.0M-29.8%
EPS (diluted)-$1.68-38.8%

Balance sheet

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Cash & equivalents$17.2B+14.9%
Total debt$3.8B-11.4%
Total equity-$785.0M-168%
Total assets$334.66B+10.4%

Cash flow

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Operating cash flow$643.0M+88.6%

Valuation

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Market cap$14B-9.3%
Enterprise value$658.75M-86.3%
P/S1.3×+0.2×

Profitability

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Net margin-5.9%

Returns & leverage

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Return on equity-42%
Debt / equity14.1×+12.3×

Where this comes from

Reported directly by Equitable Holdings in its filing.

Tagged under the XBRL concept us-gaap:MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk.

The source filing: Equitable Holdings’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 2:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001333986-26-000040
Line itemThree Months Ended June 30, 2026 / Retirement / GMx B CoreThree Months Ended June 30, 2026 / Corporate and Other / GMx B LegacyThree Months Ended June 30, 2026 / Corporate and Other / Legacy Purchased MRBThree Months Ended June 30, 2026 / Corporate and Other / Net LegacyThree Months Ended June 30, 2025 / Retirement / GMx B CoreThree Months Ended June 30, 2025 / Corporate and Other / GMx B LegacyThree Months Ended June 30, 2025 / Corporate and Other / Legacy Purchased MRBThree Months Ended June 30, 2025 / Corporate and Other / Net Legacy
Actual policyholder behavior different from expected behavior617(6)11722(14)8
Changes in future economic assumptions(49)(78)76(2)(42)(232)140(92)
Issuances(2)
Balance EOP before changes in the instrument-specific credit risk3226,935(4,705)2,2303858,486(5,531)2,955
Changes in the instrument-specific credit risk (2)281421(5)416268326(10)316
Balance, end of period$603$7,356$(4,710)$2,646$653$8,812$(5,541)$3,271
Weighted-average age of policyholders (years)66.874.674.0N/A65.974.073.4N/A
Net amount at risk$2,799$13,628$6,145N/A$2,953$15,835$7,099N/A

Item 1. Consolidated Financial Statements

FAQ

What is Equitable Holdings's purchased MRB — changes in the instrument-specific credit risk?
Equitable Holdings (EQH) reported purchased MRB — changes in the instrument-specific credit risk of -$5M in Q2 2026.
How has Equitable Holdings's purchased MRB — changes in the instrument-specific credit risk changed year-over-year?
Equitable Holdings's purchased MRB — changes in the instrument-specific credit risk increased by 50.0% year-over-year, from -$10M to -$5M.
What is the long-term trend for Equitable Holdings's purchased MRB — changes in the instrument-specific credit risk?
Over 3 years (2022 to 2025), Equitable Holdings's purchased MRB — changes in the instrument-specific credit risk has grown at a -61.7% compound annual growth rate (CAGR), from -$321M to -$18M.
What does purchased MRB — changes in the instrument-specific credit risk mean?
Represents the impact of changes in the company's own credit standing on the fair value of Market Risk Benefit (MRB) liabilities. This metric captures how fluctuations in credit spreads affect the valuation of obligations to policyholders, independent of broader market movements. It is a critical component in assessing the volatility of insurance liabilities under fair value accounting frameworks.

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