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

Equitable Holdings' (EQH) quarterly Operating Expenses came in at $3.3 billion in Q1 2026, down 24.06% year-on-year from $4.4 billion in Q1 2025, and up 13.98% quarter-over-quarter from $2.9 billion in Q4 2025.

Equitable Holdings (EQH) 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.

  • On a quarterly basis, Operating Expenses fell 24.06% year-over-year to $3.3 billion in Q1 2026; TTM through Mar 2026 was $11.8 billion, a 7.39% decrease from a year earlier, with the FY2025 full-year figure at $12.9 billion, up 24.24% from the prior year.
  • Operating Expenses rose to $3.3 billion in Q1 2026 per EQH's latest filing, from $2.9 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $4.4 billion in Q1 2025 and bottomed at $1.7 billion in Q4 2022.
  • The 5-year median for Operating Expenses is $2.8 billion (2025), against an average of $2.7 billion.
  • Across the five-year window, Operating Expenses jumped 150.04% in 2022 and tumbled 46.59% in 2023, its largest moves.
  • Year by year, Operating Expenses 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.
  • Per Business Quant, the three latest EQH Operating Expenses figures stand at $3.3 billion (Q1 2026), $2.9 billion (Q4 2025), and $2.8 billion (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn -14.14 Bn
2 BlackRock 161.01 Bn 148.08 Bn - 3.88 Bn
3 Blackstone 97.77 Bn 96.72 Bn - 2.26 Bn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 4.68 Bn
5 State Street 51.30 Bn 51.30 Bn - 2.81 Bn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 32.93 Bn 32.93 Bn - 1.51 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 3.12 Bn
9 Price T Rowe 24.70 Bn 21.13 Bn - 1.18 Bn
10 Equitable Holdings 13.35 Bn 4.68 Bn 3.85 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