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| Date | Value |
|---|---|
| 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 |