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Equitable Holdings EQH VUL — Capitalization

Other product segments

SCS
$190M+12.4%
IE
$23M+15.0%
EG
$15M-6.3%
UL
$4M+100%
EI
$2M0.0%
IUL
$2M-33.3%
Momentum
$2M0.0%
Term
$2M0.0%
GMxB Core
$1M0.0%
CB
$0
GMxB Legacy
$0

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PRUAnnuities — Capitalization
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AFLAccident — Capitalization
$32M0.0%
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AFLCancer — Capitalization
$88M+12.8%
Aflac logo
AFLDisability — Capitalization
$28M-6.7%
Aflac logo
AFLOther — Capitalization
$1M0.0%
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UNMGroup Disability — Capitalization
$17.7M+9.3%

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:DeferredPolicyAcquisitionCostsAdditions.

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 itemSix Months Ended June 30, 2026 / Retirement / GMx B CoreSix Months Ended June 30, 2026 / Retirement / EISix Months Ended June 30, 2026 / Retirement / IESix Months Ended June 30, 2026 / Retirement / SCSSix Months Ended June 30, 2026 / Retirement / EGSix Months Ended June 30, 2026 / Retirement / MomentumSix Months Ended June 30, 2026 / Corporate and Other / TermSix Months Ended June 30, 2026 / Corporate and Other / ULSix Months Ended June 30, 2026 / Corporate and Other / VULSix Months Ended June 30, 2026 / Corporate and Other / IULSix Months Ended June 30, 2026 / Corporate and Other / GMx B LegacyCorporate and Other / CBTotal
(in millions)
Balance, beginning of period$1,587$153$273$2,274$789$79$288$167$1,143$181$472$98$7,504
Capitalization63541373305265739594
Amortization (1)(81)(6)(13)(192)(24)(8)(17)(6)(35)(6)(29)(4)(421)
Recovery of acquisition costs (2)(42)(8)(3)(4)(1)(58)
Balance, end of period$1,569$152$301$2,413$795$76$265$164$1,161$177$452$94$7,619

Item 1. Consolidated Financial Statements

FAQ

What is Equitable Holdings's VUL — capitalization?
Equitable Holdings (EQH) reported VUL — capitalization of $27M in Q2 2026.
How has Equitable Holdings's VUL — capitalization changed year-over-year?
Equitable Holdings's VUL — capitalization decreased by 27.0% year-over-year, from $37M to $27M.
What is the long-term trend for Equitable Holdings's VUL — capitalization?
Over 4 years (2021 to 2025), Equitable Holdings's VUL — capitalization has grown at a 0.9% compound annual growth rate (CAGR), from $133M to $138M.
What does VUL — capitalization mean?
This reflects the total capital allocated or attributed to the specific business segment to support its operations and risk profile. It serves as a measure of the financial resources dedicated to maintaining the segment's solvency and growth objectives.

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