Equitable Holdings (EQH-PA) Operating Expenses (2017 - 2026)

Equitable Holdings (EQH-PA) recorded quarterly Operating Expenses of $3.3 billion in Q1 2026, up 13.98% quarter-over-quarter from $2.9 billion in Q4 2025, and down 24.06% on a YoY basis from $4.4 billion in Q1 2025.

Equitable Holdings (EQH-PA) Operating Expenses (2017 - 2026) Analysis & Trends

Equitable Holdings' Operating Expenses history runs 10 years deep, the most recent figure standing at $3.3 billion for Q1 2026.

  • In Q1 2026, Operating Expenses fell 24.06% year-over-year to $3.3 billion; the TTM figure through Mar 2026 stood at $11.8 billion (down 7.39% YoY), while the FY2025 annual figure was $12.9 billion, up 24.24% from the prior year.
  • Operating Expenses was $3.3 billion for Q1 2026 at Equitable Holdings, up from $2.9 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $4.4 billion in Q1 2025 to a low of $1.7 billion in Q4 2022.
  • Historically, Operating Expenses has averaged $2.7 billion across 5 years, with a median of $2.8 billion in 2025.
  • The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 150.04% in 2022, then tumbled 46.59% in 2023.
  • A 5-year view of Operating Expenses shows it stood at $1.7 billion in 2022, then jumped by 74.57% to $2.9 billion in 2023, then declined by 16.96% to $2.4 billion in 2024, then increased by 20.8% to $2.9 billion in 2025, then gained by 13.98% to $3.3 billion in 2026.
  • The last three Operating Expenses figures came in at $3.3 billion (Q1 2026), $2.9 billion (Q4 2025), and $2.8 billion (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 160.20 Bn 150.57 Bn - 3.88 Bn
2 Blackstone 96.40 Bn 95.35 Bn - 2.26 Bn
3 Kkr 85.87 Bn 133.39 Bn - 3.87 Bn
4 Apollo Global Management 79.90 Bn 98.63 Bn 5.04 Bn 4.68 Bn
5 State Street 46.62 Bn 20.95 Bn - 2.81 Bn
6 Ameriprise Financial 42.78 Bn 42.65 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 32.35 Bn 32.35 Bn - 1.51 Bn
8 Ares Management 30.25 Bn 33.62 Bn - 1.17 Bn
9 Raymond James Financial 30.24 Bn 18.99 Bn - 3.12 Bn
10 Equitable Holdings - - 3.83 Bn 3.34 Bn

Historic Data

Download Data
DateValue
Mar 31, 2026 3.34 Bn
Dec 31, 2025 2.93 Bn
Sep 30, 2025 2.80 Bn
Jun 30, 2025 2.73 Bn
Mar 31, 2025 4.40 Bn
Dec 31, 2024 2.43 Bn
Sep 30, 2024 3.08 Bn
Jun 30, 2024 2.83 Bn
Mar 31, 2024 2.01 Bn
Dec 31, 2023 2.92 Bn
Sep 30, 2023 2.18 Bn
Jun 30, 2023 1.82 Bn
Mar 31, 2023 2.82 Bn
Dec 31, 2022 1.68 Bn
Sep 30, 2022 2.17 Bn
Jun 30, 2022 3.42 Bn
Mar 31, 2022 2.41 Bn
Dec 31, 2021 -3.35 Bn
Sep 30, 2021 2.69 Bn
Jun 30, 2021 2.71 Bn