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Voya Financial VOYA Investment Management — 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 investment management — amortization of DAC and VOBA?
Voya Financial (VOYA) reported investment management — amortization of DAC and VOBA of $0 in Q4 2025.
What does investment management — amortization of DAC and VOBA mean?
This represents the periodic expense recognized for the systematic write-down of deferred policy acquisition costs and the value of business acquired. It reflects the allocation of upfront costs associated with securing long-term insurance or investment contracts over the expected life of those contracts.