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Voya Financial VOYA Employee Benefits — Amortization of DAC and VOBA

Other financials

Income statement

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Revenue$2.0B+3.1%
Net income$182.0M+16.7%
EPS (diluted)$1.75+23.2%

Balance sheet

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Cash & equivalents$1.1B+7.9%
Total debt$2.5B+18.8%
Total equity$4.7B+6.3%
Total assets$173.43B+5.8%

Cash flow

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Operating cash flow-$36.0M+79.9%

Valuation

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Market cap$8.18B-2.1%
Enterprise value$9.59B+2.4%
P/E12×-2.6×
P/S-0.1×

Profitability

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Net margin8.2%+1.1pp
FCF margin26.1%

Returns & leverage

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Return on equity15%+1.6pp
Debt / equity0.5×+0.1×

Where this comes from

Reported directly by Voya Financial in its filing.

Tagged under the XBRL concept voya:SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCostsAndValueOfBusinessAcquiredVoba.

The official record: Voya Financial’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Voya Financial's employee benefits — amortization of DAC and VOBA?
Voya Financial (VOYA) reported employee benefits — amortization of DAC and VOBA of $10M in Q4 2025.
How has Voya Financial's employee benefits — amortization of DAC and VOBA changed year-over-year?
Voya Financial's employee benefits — amortization of DAC and VOBA increased by 11.1% year-over-year, from $9M to $10M.
What is the long-term trend for Voya Financial's employee benefits — amortization of DAC and VOBA?
Over 4 years (2021 to 2025), Voya Financial's employee benefits — amortization of DAC and VOBA has grown at a 13.6% compound annual growth rate (CAGR), from $24M to $40M.
What does employee benefits — amortization of DAC and VOBA mean?
The periodic expense recognized as the capitalized acquisition costs (DAC) and value of business acquired (VOBA) are amortized over the expected life of the insurance contracts. This reflects the matching of acquisition costs to the revenue generated by those policies.